Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

catherinecashmore-6LXia3pPQj

"Our distrust is very expensive": We can't have a trustworthy financial market without an honest property system

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The love affair with tall buildings is undeniable. Initially very much a western society symbol of power and progress that started in the late 19th century, the tall building love affair has well and truly infected developing nations throughout Asia and the Middle East, for many of the same reasons. Keen to be seen as the new power-houses of the world, these nations are falling over themselves to build the biggest and greatest symbols of their city's and creator's success. However, do tall buildings actually make these cities better places?

I will leave it to the architects out there to debate the merits and attributes of the tower design itself. A tall building is very hard to hide, so the importance of getting it right and designing an object of beauty is paramount.

A common concern with tall buildings is the way the building relates to the street or ground level. Can you remember the last time a tall building was promoted by its relationship to the street? The promotional visualisations always focus on the impact on the city skyline or the bird's eye view of the tower. Too often the designers are so absorbed in the iconic form of the tower structure that the lower levels are designed as an afterthought.

Typically the ground level is dominated by blank walls, security grilles, service and plant rooms, and car park access ramps. Token provision of retail or commercial outlets to activate the street often fail due to poor siting, economic feasibility and microclimatic conditions on the ground caused by the building itself.

It''s not just the ground floor that is of concern. The lower levels of the building also have a vital role to play in activating the street. Studies have shown that beyond a four to five storey height the occupants of the building lose their connection and interaction with the street. When these lower levels consist of car parking podium levels, the effect is obviously detrimental.

In relation to the Australia 108 tower, Melbourne Mayor Robert Doyle said: "We've got to keep an eye on where we want area like Southbank going. We don't want a canyon of enormous buildings with no life at street level."

Common problems with the public realm around tall buildings include:

<ul>
<li>Restricted sunlight</li>
	<li>Exacerbated wind conditions</li>
	<li>Lack of activation at ground lower levels resulting in poor safety and surveillance</li>
	<li>Poor contextual response</li>
</ul>
But these can be tackled with good landscape and urban design.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image12mei.jpg" rel="gallery-all" title="Principles of landscape and urban design "><img alt="" class="image-article-full-width-580px" height="375" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image12mei.jpg?itok=AOBlpptO" title="Principles of landscape and urban design " width="580"></a>

<figcaption>Principles of landscape and urban design</figcaption></figure><h2>Wind Conditions</h2>

Tall buildings are known to exacerbate wind conditions at street level, often causing very unpleasant and potentially dangerous micro-climatic conditions. Early engagement with wind modeling specialists is vital before the building design has gone too far. The modernist box may need to be relaxed if we wish to create a public realm that people can enjoy without the buffeting effects of the wind. It is about being contextually appropriate to the conditions and location of the proposed tower. Strategic planning should also look to address wind issues and determine what the collective result of many tall towers in a precinct may be.

Apart from the form, orientation and permeability of the building itself, the public realm can be designed to further ameliorate wind conditions at the street level. Canopies of trees or structures around the base of the building can help disperse winds; pathways can be directed away from specific spots that modelling suggests will be highly wind prone, shrubs and screens can create protected areas.

<h2>Active Edges</h2>

The most successful public realms and streets in our cities are those with mid-rise buildings providing a near continuous building frontage that supports an active street life.

In contrast, tall buildings that sit as freestanding objects in a plaza (think Le Corbusier) seek to remove themselves from city and street life with the result being soulless spaces that no one spends time in. Developing cities in the Middle East and Asia continue along this disastrous path.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661_chapel_street.jpg" rel="gallery-all" title="Meinhardt acted as landscape architect for 661 Chapel Street, South Yarra"><img alt="" class="image-article-full-width-580px" height="281" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/661_chapel_street.jpg?itok=yqz0zXhQ" title="Meinhardt acted as landscape architect for 661 Chapel Street, South Yarra" width="580"></a>

<figcaption>Meinhardt acted as landscape architect for 661 Chapel Street, South Yarra</figcaption></figure>The failure of the freestanding object in a space is obvious when one considers that buildings need to have areas for services, car park access, and other non-active uses. A building in a plaza has nowhere to hide or ability to place these out of view.

A hybrid solution exists whereby the tower is placed on a podium which creates built form at the street level of a human scale and form. The podium however must contain active uses ands access for the public, not simply at ground level of retail with levels of car parking above. This solution still allows the tower component to be a creative and unique design. If the tower is setback from the podium, the podium can also assist with wind amelioration. Service areas should be located on side or rear lanes.

<h2>Restricted Sunlight</h2>

Very simple and effective tools now exist to measure the effects of shadow caused by tall buildings. Using these tools early on in the design process is of great benefit. Towers should be slender and aligned to allow light into public gathering areas. The number of tall towers in an area should be carefully monitored so that the collective result is not detrimental. Strategic Plans should be prepared for precinct undergoing this type of development pressure so that this impact can be understood.

Undoubtedly, increased shadowing will be an inevitable result of tall building. Public realm design must respond to this and consider such things as plant and tree selection for these conditions, creation of public space where it can be modeled that sunlight will be captured, especially during peak times (ie lunch breaks), use of lighter coloured materials and potentially artificial lighting.

Understanding where areas will be heavily shaded should also determine the location of active ground level uses. Retail outlets typically prefer a sunny outlook. Don't waste sunny aspects on car park ramps, service areas and blank walls.

In very hot climates, the reverse situation to the above might be true. Public realm design in some Middle Eastern cities seeks to take advantage of the self shading caused by buildings to ameliorate the temperature and provide for more pleasant pedestrian conditions.

<h2>Contextual Response</h2>

Neighbourhood character is a dirty term where tall buildings are concerned, specially when proposed in areas previously devoid of such structures. How for example, does an area like Fishermans Bend in Melbourne successfully transform from a low-rise industrial area to a suburb of tall residential towers? Within the central CBD's of most cities it is a different story, where the tall tower is the accepted form.

For places like Fishermans Bend, a structure plan is essential that sets out the scale, form and uses of future development. Allowing open slather could result in 50 storey or greater towers across the entire area creating many of the problems outlined earlier in this article. Design and planning principles must be established such as ensuring towers are placed on or behind human scaled podiums, that building frontages have active edges including doors and windows, that floor levels respond to the public realm, that service areas are placed away from the prominent street frontages and many of the other suggestions already outlines in this article.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image10mei.jpg" rel="gallery-all" title="A Meinhardt project: 60-82 Johnson Street, South Melbourne located within Fishermans Bend"><img alt="" class="image-article-full-width-580px" height="249" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image10mei.jpg?itok=odzDrdy-" title="A Meinhardt project: 60-82 Johnson Street, South Melbourne located within Fishermans Bend" width="580"></a>

<figcaption>A Meinhardt project: 60-82 Johnson Street, South Melbourne located within Fishermans Bend</figcaption></figure>However, even these aideas may still result in a development that is largely out of context with its surrounds. We can either accept that this is an inevitable outcome of urban development or perhaps take a more radical (perhaps more conservative) approach that seeks to adjust the character of an area more slowly over time.

The first few tall buildings in an area like Fishermans Bend will vastly alter the area's character. What if instead, the first number of buildings are only allowed to be say, 20 storeys and then gradually over time as more and more is developed, this height limit be increased. This is really not so different from how the Melbourne CBD has evolved and allows the city and its inhabitants to embrace this change with less angst.

The unifying element in all this is the public realm, which fills in all the spaces between and around these tall buildings. Melbourne is much more defined by its great streets and lanes than by its tall buildings. If we want these streets and lanes to remain as a defining element of a livable city, then we must be very careful that our love affair with the tall building does not destroy them.

Jon Brock is National Director of Land Development at <a href="http://www.meinhardt.com.au/" target="_blank">Meinhardt</a>, a multi-disciplinary engineering and professional technical services consulting firm with a strong presence in the Melbourne and Australian market.
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Jon Brock

Tall buildings and the public realm

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The recent House Rules contestants Ryan Pusic and former partner Candy Stuart secured a bullish $590,000 when they sold the Emu Plains house they renovated on the hit Channel 7 show.
It represented a $190,000 subsidised flip success.
Selling agent Paul Wallace at Property Central Penrith told Property Observer that he had issued 15 contracts pre-auction.
There were eight registered bidders with around four getting in a bid at the weekend auction.
45 Gough Street had been listed with $499,950 plus price guidance for its August 30 on site auction which was attended by a crowd of 250, including the two vendors.
Ryan Pusic said it closed a chapter in the now separated couple’s lives.
He plans to stay in the Penrith region.
Since the show ended, the entire house had been rendered along with a fresh paint job.
The property is on a 626 square metre block.
<img src="/images/2014/08/08/house%20rules.jpg" alt="">
Above: Candy and Ryan's unrenovated home in 2013. 
Candy and Ryan purchased the home for $400,000 in August 2013.
The suburb, <a href="/news">according to RP Data</a>, comes with a median house price of $471,000, up from $437,000 when the couple made their purchase.
The neighbouring four bedroom 1970s house fetched $500,000, in the street's most recent comparable in 2012, then put up for rent at $530 a week.
Property Observer understands that contestant couples are contracted not to immediately sell their renovated home post-production, other than in circumstances deemed appropriate by Channel 7.
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jchancellor-FAypfDUnLy

House Rules' Candy and Ryan secure $190,000 Emu Plains sale flip success

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Australian cricket captain Michael Clarke has yet to sell his Lilli Pilli house after there were no bids at today's auction.
There was $2.7 million plus price guidance from listing agent Matthew King for its McGrath auction. There was only a $2.7 million vendor bid. The McGrath website has it now for private treaty sale with $2.7 million plus suggestions. News Ltd reported the auction lasted just five minutes.
Clarke paid $2.87 million in 2006 and has renovated it since.
<table class="container" cellspacing="0" cellpadding="0"><tbody><tr>
<td valign="top" width="377px"><img class="image" src="https://media.mcgrath.com.au/webimages/properties/0/2/0/6/8/2/4/FB2126F3-AF3C-9715-8D30B0085F9BEB23_m.jpg" width="376" height="299"></td>
</tr></tbody></table>
Back in 2009 Clarke thought of quitting the Sutherland Shire but failed to achieve his then $3.4 million hopes.
<a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">The contemporary five-bedroom, four-bathroom split-level house</a> comes with pool, spa and boatshed on its 1670 square metre bushland riverfront block.
Earlier this year Clarke and wife, Kyly spent $8.3 million in Vaucluse.
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No bid Michael Clarke Lilli Pilli home auction result

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There was an initial 81.9% clearance rate at Sydney weekend auctions, continuing the recent renewed strength.
The revised APM prior weekend result was a strong 78.9%.
Umbrellas galore when Sydney's wet auctions got underway today on the busy last Saturday in August.
There were six bidders, barely visible, spotted amid the downpour when <a href="https://www.ppdre.com.au/selling/NSW/Eastern-Suburbs/Queens-Park/House/1P0577" target="_blank">53 Alt Street, Queens Park</a> went to auction.
<img src="/images/2014/09/01/rainy-day-sept-1-one.jpg" alt="">
Bidding opened at $2 million, with the hammer coming down on the Federation home at $2.51 million when auctioned through Debbie Donnelly at Phillips Panzter Donnelly. It was $160,000 over reserve.
The 53 Alt Street offering, Mayo was sold as a deceased estate.
The double-fronted brick house presented as an exciting prospect for a complete renovation and transformation with rear and second floor extensions (STCA) similar to neighbouring homes. Owned by the same family for many decades, it has a wealth of original features including leadlight windows and a tessellated tiled verandah with timber fretwork.
Another nearby offering at 6 Lynch Avenue, Queens Park (pictured below) sold this afternoon for $1.45 million.
<img src="/images/2014/09/01/quenns%20park%20sept%201%20towo.jpg" alt="">
<div>There were five registered bidders – with competition from three of them.</div>
<div> </div>
<div>The buyers are a young couple upgrading from a unit in Bondi.</div>
<div> </div>
<div>He’s a builder and they will add the approved second storey.</div>
<div> </div>
<div>The two bedroom house had already been renovated when it last traded for $1.325 million in November 2011.</div>
APM noted auction numbers in Sydney have risen steadily over recent weekends with this weekend some 573 auctions scheduled compared to the previous weekend’s 440.
There were the 550 listed over the same weekend last year.
The city and east hosted the most number of auctions with 82 followed by the inner west with 81.
Mosman hosted the most auctions this weekend in Sydney with 12. Next highest was Epping on the upper north shore, Strathfield in the inner west and Manly on the northern beaches each with 9 auctions.
With five Saturdays, Sydney has recorded its highest ever August for auction listings this year with 2660 properties going under the hammer.
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Bids aplenty as rain buckets down on Sydney weekend auctions

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Taking on a substantial amount of debt can be concerning, and rightly so – the added responsibility and requirements mean that you need to ensure you can always service your repayments or fear losing your home.
All being said and done, you do not need to enter into home ownership blind.
Here are 10 things you can do to prepare yourself for the debt and responsibility ahead:
<ul>
<li>Find out what your repayments may be</li>
</ul>
If you’re still looking for a property, then get onto your bank’s calculator and estimate how much your repayments are going to be. Be honest with yourself about what you can afford and have a look at what you’ll be expected to pay.
Having a clear understanding of what owning a property means financially for you day in, day out is crucial.
<ul>
<li>Have a budget plan</li>
</ul>
Now that you are away of the amount of funds required for your repayments, you can work out a debt management plan (here’s a <a href="https://www.moneyhelp.org.au/tools-tips/budget-planner/debt-management-plan/" target="_blank">good tool from Money Help</a>), or a ‘budget’ that will ensure you can keep track of your outgoings. You may already have a good budget in place if you’ve been spending time saving for your deposit, so now you want to double check that it covers you enough.
<ul>
<li>Practice paying your mortgage</li>
</ul>
If you know how much your loan repayment is likely to be, and your budget plan, then it’s time for you to practice what it would be like to pay it each fortnight or month. For instance, if the amount you’ll be required to pay is $350 a week, and your rent is currently $300 a week, see how you handle putting aside the extra $50.
If you’re living with your parents and not paying rent, or paying far less than your upcoming repayments, this becomes even more critical.
Property Observer recommends factoring in other costs, such as strata fees and rates, so you can really see how you’ll handle those costs. Make it a habit before you even get your property. If it means you’ll never be able to eat out socially, and this is a nightmare for you, then you need to come up with a different plan. Remember, this is paying off the bare minimum – most people will want to pay off more.
<ul>
<li>Factor in a rate increase</li>
</ul>
You’ve practiced paying off your repayments as they’ll be when you own, but if you’re not on a fixed rather then you will need to ensure you can afford to keep paying in the event of a rate increase. Factor in up to an extra 2% on top of your current interest rate, and check whether or not this affects your ability to pay.
<ul>
<li>Ensure you know how much debt is too much</li>
</ul>
Now that you know how much you can personally afford to pay for your loan, and your own habits and ability to pay it on time and in the full amount, be honest with yourself. This is a personal situation, and will be a different answer for every prospective property buyer.
Ask yourself these four questions:
<ol>
<li>Can I afford to do this for the length of the loan term? 
</li>
<li>How can I stop myself from continuing any bad financial habits? 
</li>
<li>What is my “tipping point” (the amount where you stop being able to afford the repayments)? 
</li>
<li>What parts of my lifestyle, if any, am I willing to sacrifice to keep up with the repayments?</li>
</ol>
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li>Familiarise yourself with what to do if you miss a payment</li>
</ul>
If you do miss a repayment or find yourself suddenly struggling with hardship, then there are certainly things you can do. <a href="/news/vic/victoria-s-mortgage-delinquency-on-the-rise-how-you-can-stay-above-water">Here’s some information to assist you with understanding what to do</a> if you get into this situation.
<ul>
<li>Get income protection and necessary insurances</li>
</ul>
Do not wait until you own the property to take out insurances on your income. If you fall sick and are unable to pay your mortgage and associated bills, you will find yourself struggling. Research and get the required insurances early in the piece.
<ul>
<li>Chat with a broker</li>
</ul>
Find yourself a good broker, and start talking about your options when it comes to mortgages and other home loan products. Understand what an offset account is, <a href="/expert-insights/finance/what-is-an-lvr-investment-terms-explained">what LVR means</a> and whether or not you’ll need LMI. You want to know <a href="/expert-insights/finance/top-10-tips-to-save-money-on-your-home-loan">how the frequency of repayments affects your overall loan</a>, any associated costs and the limits to the product you’re choosing. Here’s <a href="/expert-insights/finance/how-to-pick-the-best-mortgage-broker">how to pick the best mortgage broker to get you started</a>.
The more you know now, the better prepared you will be later on - make sure you understand the requirements of your loan product and exactly what you're signing up for.
<ul>
<li>Find out how other people are implicated</li>
</ul>
Yes, if you miss your mortgage repayments then you will be the one facing off against the lender. However, if you are sharing the repayments in a joint venture, have someone standing guarantor, or are buying on behalf of your family then it’s time to be honest with yourself.
How badly can things work out if you default? Could your parents lose their home? You need to prepare for the worst eventuality, and ensure those involved know that there is a possibility, even a small one, of this happening.
Be upfront, have the required paperwork, and understand expectations. For instance, in a joint venture where one person has stumped up the entire deposit, will you both be paying equal amounts of the mortgage? Do you own exactly equally? Answer these questions before you get to the property ownership stage.
<ul>
<li>Get your documents together</li>
</ul>
You’re going to need quite a few documents to apply for your home loan, and now is the time to get everything in order.
Read through the requirements with the lender of your choice, however the majority of the time you will need identification, proof of earning and details about the property itself.
Make sure you know that your credit record is clean. Make sure you <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">know what pre-approval is</a>, and that you understand its limitations.
You can read <a href="/expert-insights/buying/getting-your-first-loan-heres-what-you-need-to-know">Property Observer’s guide on getting your first loan here</a>.
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Preparing yourself for debt: 10 things to do now to make home ownership easier

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Saving for a deposit - particularly on a single income - is a difficult task.
If you've cut back all you can but desperately want to purchase your own home, it can be done for less than you think.
A $25,000 home deposit may be tempting, but the reality is more difficult than it seems.
If you're only putting down $25,000 for your deposit, it's likely that you're only paying a 5% or 10% deposit, rather than the 10% to 20% that many people prefer.
Policies will change between lenders but if you're borrowing more than 80% of the value of your property, you'll most likely be required to pay Lenders Mortgage Insurance (LMI). LMI protects your lender against a loss if they sell your home after you default - essentially making up for the additional risk they take on when increasing the proportional value of your loan.
If you want to put down a small deposit, budget in your LMI payment. The two major LMI providers in Australia, <a href="https://www.genworth.com.au/borrower-centre/homebuyer-tools/lmi-premium-estimator/?gclid=CO2R6M2yprgCFQMwpAodTjQASA" target="_blank">Genworth</a> and QBE LMI, both offer calculators to help you budget in the additional cost. (For more on LMI, <a href="/expert-insights/investing/less-than-a-20-deposit-the-8-things-you-need-to-know-about-lenders-mortgage-insurance-lmi">see this article</a>.
While your LMI will most likely cost less than an additional 10% deposit, remember that you are not exchanging that sum for equity in your home - once your LMI payment is gone, it's gone forever - and you'll still have to pay that extra 10% you've dodged now to your lender later on (with interest).
Though buying a home with a $25,000 deposit now can speed up the home buying process, keep in mind the benefits of waiting until you're more financially secure before you purchase a home. It may be the case that <a href="/expert-insights/buying/the-10-signs-that-you-may-not-be-ready-to-buy">you're just not ready to purchase yet</a>.
And while it's probably the biggest financial hurdle you face in purchasing a home, the <a href="/news/vic/how-to-work-out-how-much-buying-a-home-costs">deposit isn't the only cost associated with buying a home</a>. 
But if you do have $25,000 in the bank that you're itching to invest, what can you buy? Assuming you need to pay a 10% deposit (and the bank will approve your loan), Property Observer has tracked down some bargain buys. For each of these homes, a first home buyer could expect to pay an additional $3,060 LMI premium, according to Genworth.
<ul>
<li><a href="https://www.realestate.com.au/property-house-qld-vincent-117792651" target="_blank">254 Palmerston Street, Vincent, QLD</a></li>
</ul>
<img src="/images/2014/08/29/palmerston%20aug%2029.jpg" alt="">
Vendors are accepting offers in the mid-$200,000s for this three bedroom Townsville Queenslander. The currently rented house is within walking distance of the Vincent primary school and shopping centre, and is set on a 731 square metre block.
<ul>
<li><a href="https://www.realestate.com.au/property-apartment-vic-carlton-117792195" target="_blank">523/800 Swanston Street Carlton Vic 3053</a></li>
</ul>
<img src="/images/2014/08/29/carlton%20aug%2029.jpg" alt="">
If you want something close to an urban centre, this one bedroom apartment in Melbourne's inner city is on the market for $180,000 plus. Tenanted until February next year at a 9.3% yield ($1,439 per month), the apartment is a ten minute walk to the CBD. However, it's micro sized, with only 32 square metres of floor space.
<ul>
<li><a href="https://www.realestate.com.au/property-apartment-wa-east+perth-117538663" target="_blank">22/45 Adelaide Terrace East Perth WA 6004</a></li>
</ul>
<img src="/images/2014/08/29/east%20perth%20aug%2029.jpg" alt="">
Another snug apartment is on offer in East Perth, with an asking price of $245,000. The 33 square metre studio apartment is currently rented out at $320 per week.
<ul>
<li><a href="https://www.realestate.com.au/property-house-nsw-scone-114888183" target="_blank">37 Scott Street Scone NSW 2337</a></li>
</ul>
<img src="/images/2014/08/29/scone%20aug%2029%20one.jpg" alt="">
This two bedroom weatherboard house in the Hunter Valley comes with a price guidance of $230,000. Set on a quarter acre block (1,012 square metres), the house has a lounge room with a separate dining area that could be converted to a third bedroom.
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jrichardson-uRX5hFdKfN

What can you buy with a $25,000 deposit? 

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If you're about to start your search for your first home, don't worry.
All that stands between you and your first dwelling of your own is figuring out a budget, getting loan approval, determining the best area for your lifestyle and investment ambitions, the other buyers and the price negotiation process. Oh, and plenty of open home inspections.
Thankfully, the open home inspection is the most fun part of the process. This is the part where you get to explore someone else's home (never underestimate how satisfying a good stickybeak can be) and imagine your own future. That shelf full of cookbooks - wouldn't it look good with the cabinet you inherited from your grandmother? And that rug is ugly, but you spotted a really great one last weekend. And that mantle would be terrific for all your travel photos.
Before you know it, you've gotten carried away. And on the drive home, you suddenly can't remember exactly how big that second bedroom was, whether there were tiles or lino in the kitchen, or how high the ceilings were.
It pays to be prepared for an open home inspection. Here's Property Observer's step by step guide to attending an open home.
<ul>
<li>Prepare a checklist </li>
</ul>
Before you head off, prepare a checklist of things to look for at the open for inspection. There will be vital aspects of the home are things you're not willing to budge on - this could include the minimum number of bedrooms, the size of the backyard, a double garage, or a separate laundry. 
Your negotiable items are ones that you're curious about but aren't dealbreakers. Is the home close to a school? In the shadow of an industrial plant? Can your neighbours see into the property? 
Finally, there are aspects that might seem superficial at first but could really make a difference down the track - things like ceiling height, aspect and natural light, layout and floor materials are all important, as are noise levels. 
By preparing a checklist before you step foot in a property, you'll allow yourself to take out some of the emotion of inspecting a home. 
If making your own checklist seems daunting, <a href="https://advice.realestateview.com.au/buying-investing/ultimate-first-home-buyers-guide/12/" target="_blank" style="line-height: 1.3em;">check out this one from realestateVIEW</a> - it'll be particularly handy for keeping your homes straight when you have a few under your belt.
<ul>
<li>Gather your things</li>
</ul>
In addition to your checklist, bring along a copy of the listing, with any particular points marked out that need further following up with the agent.  A suburb report with median prices might be handy if you're neighbourhood hopping, and your ID is often required by the agent. 
Bring along a camera (your smartphone will do) to help jog your memory later on and a tape measure, with a pen and pad (or phone) to take notes on, are also very handy on the day. 
Even if you have good spacial awareness, take along the floorplan - it's much easier to walk through a home with one eye on the floor plan than it is to look over the floor plan and try to recall how each room fits plan later on.
<ul>
<li>Stickybeak around the street</li>
</ul>
Remember, you're not just hoping to buy a home in a vacuum. You're buying a house on a particular street in a particular suburb. If you have time, build in 15 minutes before the open home to take a walk down the street and through the main strip of your potential new neighbourhood. 
The suburb cruise can be more illuminating than you might think. If you want to buy into a suburb with a good school or great cafes, try taking a walk between your prospective home and those areas. If your child will have to traipse through a poorly lit park to get home, the house's location might not be as good as it first seemed.
If there's no secure parking on the property, check out the street - is there plenty of room for you to park your car? Does the street look well lit and secure?
Article continues on the next page. Please click below. 
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<ul>
<li>The outside</li>
</ul>
While street appeal isn't everything, check out the exterior of the property and the landscaping. If there's a spectacular garden, keep in mind that you'll need to maintain it once its in your possession. 
Think about what's appropriate for your family - if you have young children or pets, you will have to keep fencing in mind, for safety and privacy.
Keep an eye out for any rotting wooden cladding or peeling paint as well - fixing those problems up will cost you money down the line.
<ul>
<li>Speak to the agent</li>
</ul>
While you don't want to seem too peachy keen, it's often good to have a quick chat to the agent so you're on their radar. They'll take your name and number and will often want to see your ID as well.
<ul>
<li>Kitchens</li>
</ul>
The heart of the home and one of the more expensive areas to make improvements to down the line, the kitchen is an important area to check out. Some important things to take note of:
<ol>
<li>Materials: Splashbacks, benchtops and flooring - make sure it's easy to maintain and suits your personal style.</li>
<li>Layout: If you have a big family or entertain often, a small galley kitchen might not cut it. Make sure there's enough space for your fridge (with plenty of room to swing the door open).</li>
<li>Cooktops and ovens: Keep in mind that electricity is more expensive than gas.</li>
<li>Dishwashers: Is there an existing dishwasher, or room for one if you need it down the line?</li>
<li>Storage solutions: Make sure there's enough room for all your pots, pans, plates and plastic tupperware.</li>
<li>Rangehoods and fans: Check out the noise level and efficacy of the rangehood - more importantly, make sure there's a rangehood in the first place. They're difficult and sometimes impossible to install retrospectively.</li>
</ol>
<ul>
<li>Bathrooms</li>
</ul>
Another expensive area of the home to re-do, bathrooms are worth getting right. 
Make sure there are enough bathrooms in the house (particularly if you have a growing family) and decide whether it's important to have a toilet that's separate to the main bathroom. 
Tiles should be easy to clean, and a bath is pretty vital if you're planning to have young kids. The bathroom should be well ventilated (check the fan - without good ventilation, hazardous mould can grow quickly) and have enough storage space and power points.
If there's no separate laundry, your washing machine will need to go in the bathroom. Make sure there are washing machine taps, room for a dryer if you use one, enough space for your washing machine and an adequate sink.
<ul>
<li>Living and dining areas</li>
</ul>
Check the layout of your living and dining areas - is it open plan? If you have children, could you watch them play in the living room from the kitchen or your workspace? 
Look for power points, phone cables or ports for internet connection and television connections, and make sure you'll be able to figure out a tidy and space efficient way to arrange your furniture and entertainment devices.
Also keep heating and cooling in mind - is there a simple reverse cycle air conditioning unit in the living room? Think about whether this will cut it in the height of summer or the middle of winter, particularly given the building materials and level of light in the home.
<ul>
<li>Bedrooms</li>
</ul>
Keep an eye out for outlets, layout and size and lighting. Think about how you use your bedroom. Is there enough storage space for your clothes? If you needed to get another storage unit for new clothes or your partner is moving in with you for the first time, will there be enough room then? Is there adequate light if you like to work in your bedroom, and room for a desk?
For children's bedrooms, make sure they're easy to clean and close to your room, particularly if you have very young children that you may need to attend to during the night. Check the windows on your bedrooms to make sure they're easy to open and secure.
<ul>
<li>Garage spaces</li>
</ul>
One person's "secure parking" is another person's "tiny backyard with barn-style gate that opens on to an alley". If you have a vehicle which you need to keep secure, make sure there's adequate garage space - wide enough for your car, with a working door and enough space for your tools, bikes or workbenches.
<ul>
<li>On your way out</li>
</ul>
Make a note of any discrepancies between the home and the listing information, and be sure to raise them with the agent, either at the inspection or later on the phone. Thank the agent, and make sure you have his details to contact him later.
<ul>
<li>Back home</li>
</ul>
Don't think all the work is done once you've returned from the open inspection. If it seems like the property is a serious prospect, go back over the notes you've made and highlight any questions you want to ask the agent or a building inspector. 
If that seems like a lot of work for a house that you might not be interested in, think again. Even if the house is off your radar, keep an eye on it and how much it sells for eventually - every open home you go to will give you a better idea of the market which holds your future home.
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Step by step guide to attending an open home

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Is e-Conveyancing going to be a way of ensuring that foreign nationals comply with Australian foreign investment rules?
The Real Estate Institute of Australia suggests that this might be exactly the case.
As part of the House of Representatives Standing Committee on Economics’ public hearings into the Inquiry into Foreign Investment in Australian real estate, REIA board member First National's Ray Ellis is to address the inquiry and detail the possibility of using e-Conveyancing to improve compliance.
This would ensure greater inter-departmental and agency communication, including with the Department of Immigration, with REIA CEO Amanda Lynch noting that later in the year the first national e-Conveyancing platform will be rolled out.
“While it is important to stress that the new online platform is heavily regulated with keen focus on protecting privacy of individuals, it will be capturing a rich set of data including identification where the transaction involves foreign nationals,” said Lynch.
“Lawyers and conveyancers will have to verify the identity of the clients they represent and reflect the client’s foreign residency status while filling the form in an online workspace,” she said.
They will reflect the paper versions of transfer in each state and territory, with the same data fields, however will store data electronic – something that matches the expectation for 85% of all property transactions over the next two years to be electronic, explained Lynch.
Monitoring could more easily be undertaken under this system.
“The transition towards e-Conveyancing provides the opportunity for easier detection of irregular activity,” said Lynch.
“The last thing that the sector wants to see is unnecessary red tape around foreign investment in Australia and here is an ideal platform that is available for all property purchases, not just those involving foreign investment,” she said, noting the REIA supports both foreign investment in Australia, and the current guidelines.
Ellis noted that the issue isn't that foreign investment happens, but that it is inadequately monitored and regulated.
"Australia has long depended upon migration and foreign investment. It’s vital to a thriving economy in a country with a comparatively small population," he said.   "However, there appears to be evidence that some wealthy foreign investors have been purchasing existing homes and leaving them vacant to avoid detection by the Foreign Investment Review Board (FIRB)."
He noted that there is currently an $85,000 fine for breaching this law.
"Foreign developer investment, when compliant with our laws, creates jobs and benefits the construction industry. However, if foreign residential property investors believe they can buy existing properties and leave them vacant, to avoid detection, this is clearly against the rules and objectives of the FIRB scheme and measures should be put in place to address this cavalier attitude," he said.
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How e-Conveyancing can help ensure foreign investors comply with rules: REIA

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Genworth Australia chief commercial officer Bridget Sakr says that consumers have some common misconceptions about lenders mortgage insurance (LMI), which are often due to a lack of understanding about what it is.
Sakr notes that they’re here to clear the record with <a href="https://www.genworth.com.au/lmifactually/welcome" target="_blank">LMI Factually</a> – a digital platform where property investors, first home buyers, mortgage brokers and industry leaders discuss LMI.
She says that misunderstandings may have deterred people from considering it as viable to help them enter the market.
“The reality is there are many consumers, brokers and leading business figures who are advocates for the product and even use it personally,” she explains.
This has spurred on a series of video interviews with leading industry figures such as Century 21’s Charles Tarbey, Finance Made Easy’s Tony Bice, Aussie Home Loans’ John Symonds and Empire Property Portfolios’ Chris Gray.
“LMI Factually aims to showcase a number of these views while encouraging Australians to learn more about the product and decide whether it is an appropriate product for their circumstances,” said Sakr.
“Achieving the dream of homeownership is one of the most exciting accomplishments in life for many Australians. However, it can also be one of life’s most difficult challenges due to the length of time it takes for most people to save the traditional 20 per cent deposit.”
If you want to know more about LMI, you can read this article where <a href="/expert-insights/finance/how-buying-lenders-mortgage-insurance-can-allow-you-to-grow-your-property-assets-faster">Chan &amp; Naylor’s Albertus Waldron explains how it can get you into a property quicker</a>.
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