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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

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It’s hardly surprising that the Reserve Bank of Australia (RBA) decided to park the cash rate indefinitely, given the complexities associated with Australia’s fascination of owning real estate. 
When one looks closely at the RBA data, our household debt has now climbed to a record $1.870 trillion. Its cause has certainly not been assisted by the avalanche of "<a href="/expert-insights/autopilot-investing-a-major-problem-for-the-property-market">autopilot investors</a>" which led the RBA to announce this week that it has concerns about ‘significant’ uncertainty.
Of great concern globally, is that all the central banks presently have their respective cash rates parked at close to zero which has resulted in even greater debt, even though growth keeps trending well below expectations. It is becoming quite clear that those who subscribed to the modern theory that short-term pain would be exceeded by significant long-term gains, have been proved wrong. When growth is trending at below expectation levels, so too are wages, which is why Australia has a ‘significant’ problem. It reminds me of the saying: 'After all, life is really simple, we ourselves create the circumstances that complicate it.'
Once upon a time cash was king – today, debt is king. If you cast your minds back to last year when RBA governor Glenn Stevens addressed the Wall Street Journal he said recession in Australia has a “more or less” 100% probability; only timing is uncertain. It has become clear that a record low cash rate for many has become a 'fool's gold'. Having said that, the money lending market has expanded to unprecedented levels with Coles and Woolworths the latest to apply for entry into the home lending markets.
When one looks a bit deeper into the demographic property markets (over bundling them all together to hide the weak performers) the top end markets have clearly demonstrated a much more cautious outlook. Without a doubt they were the hardest hit during the global financial crisis (GFC) although this time around they are throwing caution to the wind.
I would not be alone by saying the eagerly awaited detailed release of the Murray financial system will make for riveting reading given it is the first inquiry in over 17 years for the property industry – which is absolutely ridiculous. It’s already been announced that the former CBA chief wants to “leave his mark” by setting stringent lending guidelines as against the current format of the 'Big Four' banks boasting who has the greatest market share in Australian property – combined they hold nearly 80% of the overall debt.
<img src="/images/2014/08/25/simeon%20aug%2025%20one.jpg" alt="">
When the RBA does decide to raise the cash rate there will be a tsunami of bad debt which explains the latest RBA decision to park the Australian property market (for the time being). Globally the property markets are cactus – Alan Kohler wrote a great piece this week – '<a href="https://www.businessspectator.com.au/article/2014/8/18/global-financial-crisis/world-must-inflate-or-bust-australia-mustnt-join" target="_blank" title="The world must inflate or bust; Australia mustn’t join in.">The world must inflate or bust; Australia mustn’t join in</a>'. “The world’s central banks are overly trying to increase inflation because it’s the only realistic solution for the world’s (still) excessive debt, and the Reserve Bank of Australia will soon have to decide whether to join in or bear down on inflation with relatively higher interest rates.”
“A central banker on one panel noted that, in his view, too much is being asked of monetary policy; the main thing that low interest rates and quantitative easing are producing at the moment is more risk taking by financial institutions.
“That’s the problem with too much debt: the only easy solution is more debt, which is no solution at all.”
I have never been a fan of mortgagee in possession sales as they clearly demonstrate a panic mentality which inevitably results in heartbreak together with considerable capital losses. Having worked through the boom of the late 80s and then the “recession we had to have” in the early 1990s, we don’t appear to have learnt much.
I would prefer to see when a home owner is deemed to be in financial difficulty that the property (principal place of residence only) is placed into quarantine for five years. When the property value recovers only then is it sold – with the parties deciding (depending on the circumstances) if it is mutually agreed that it be rented out over that period. If this were to happen maybe then a home loan may be scrutinised much more closely – as against what we are seeing and reading today.
In a perfect world the authorities would make such an announcement sooner rather than when the proverbial hits the fan.
The lending institutions could make the landing a lot softer when and if a recession eventuates.
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robertsimeon-hRNTwJyXkQ

With the RBA's help, debt has become king

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GUEST OBSERVATION

I recently had a friend who went to auction, underprepared, and who had neglected to thoroughly review the contract prior. 

She was a little under the pump, given her partner had only seen the house 30 minutes prior to the auction commencing. Meanwhile her solicitor/friend was doing her a favour trying to review the contract copy over his iPhone, in a rushed five minute window over a family lunch.

Needless to say, the environment wasn’t exactly conducive to a trouble-free sale and a few items were overlooked in the lack of due diligence, one of them being a land tax adjustment for a whopping $7,000!

[smartcode_project:default project_id=7758]

This insidious tax that most investors overlook in their haste to rack up their property portfolio can creep up quickly, adding significantly to your costs as a land owner. This tax differs from state to state here in Australia. What some home buyers fail to realise is that you can also be up for the previous owner’s land tax costs if you aren’t careful, even if you are purchasing the home as a principal place of residence (PPOR).

On the NSW sales contract, if the 'yes' box is marked on the front page next to the checkbox that asks “Is land tax adjustable?”, be aware that you may be up for unwanted land tax costs. You will have to reimburse the vendor for land tax based on the proportion of the year you each own the property.

[smartcode_project:default project_id=6798]

For more information on land tax and ramifications here visit the<a href="https://www.osr.nsw.gov.au" target="_blank"> NSW Office of State Revenue website</a> and for other states, also ensure you read the fine print on contracts.  

Otherwise, as with my friend, you may well find yourself paying the price for lack of knowledge and preparation.

Jacque Parker is director of <a href="https://www.housesearchaustralia.com.au">House Search Australia</a> and the president of the <a href="https://rebaa.com.au/" target="_blank">Real Estate Buyers Agents Association of Australia</a> (REBAA).
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JacqueParker-uBQkZrvXSL

How you could end up paying someone else's land tax bill

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PARTNER CONTENT
Unfortunately, waiting until a development is completed is a sure-fire way to miss out on the best opportunities within the complex.
Buying a property off the plan may be one of the only options you have to purchase a property within a popular area. So here are six tips you need to know about buying off the plan properties to make sure you get the place you want.
<ol>
<li>
Take advantage of displays. Despite the fact that you can’t see the finished property, you need to find out what kind of quality you’re purchasing. The developer should have a display set up where you can see the finishes and fixtures you can expect within your new place. Then, ask for previous projects they’ve completed and how you can get in to inspect how they’ve lasted. 
</li>
<li>
Learn to understand floor plans. This may seem fairly basic, however it is essential to understand how large rooms are when buying off the plan. Measure it out in an existing property and work out what space you have. Does your bed actually fit into your new bedroom? A good tip is to mark out your new room and use newspaper on the floor to represent furniture sizes. 
</li>
<li>
Finance clauses are worthless, or are they? Due to the potentially lengthy time before completion of an off the plan purchase, banks are generally not willing to give unconditional approval on the loan in the event the market shifts. As such, if the market declines you could be dipping into your savings when you finally settle, so budget for this just in case. It is still a good idea to include a finance clause in your contract and get a valuation (‘as-if-complete’) when you’re getting your initial approval. This will allow you to gauge how the property stands within the current market, as well as how the bank views the area and the property’s potential.  
</li>
<li>
Befriend your council Most city councils have online databases with zoning, neighbourhood plans, infrastructure works and development application details. It’s quick and easy to check what’s going on around your potential purchase, as well as making sure your new view will stay the same, at least for the foreseeable future.  
</li>
<li>
Use the time wisely Buying off the plan can have benefits other than just getting the pick of the complex. Generally off the plan purchases only require a 10% deposit with the balance due at settlement; so you can keep saving until then to reduce your mortgage. Getting in early also allows you to customise your new place; ask the developer what finish options you can change to truly make it your own.  
</li>
<li>
Get early legal advice Even though settlement may be 18 months away, get legal advice as early as possible, preferably before you sign any contracts. Amongst other things make sure you understand the delivery timeframes of the projects, the sunset clauses and confirm what you’re actually purchasing.</li>
</ol>
By conducting your due diligence and taking your time, you can take advantage of what off the plan purchasing can offer buyers; a way to secure a quality property in the future, at today’s price.
ANDREW HERBERT is partner of <a href="https://myfirstplace.com.au/Property-Observer" target="_blank">My First Place</a>.
<a href="https://myfirstplace.com.au/Property-Observer" target="_blank">My First Place</a> is offering a buyers club to support buyers in finding their property. For August, club membership is free to Property Observer readers.
For First Home Buyers there’s a package worth $4,200 that covers solicitor fees, mortgage application fees, building inspection, insurance and utilities.
For investors the package is worth $3,350 and it covers solicitor fees, mortgage application fees, building inspection, landlord insurance and a depreciation schedule.
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po-LsXgBTHBmX

Six tips you need to know about buying off the plan

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With property prices soaring it’s no surprise that first time buyers are increasingly looking at properties that need a little bit of work.
These “doer upper” or “renovator’s dream” properties offer huge potential for adding value through a renovation. However, novice investors and buyers do not want to be going in unsure of what they’re getting themselves in for.
Firstly, new buyers should look for properties that need what is called a ‘cosmetic’ renovation first. If you don’t know what this is, you <a href="/expert-insights/what-is-a-cosmetic-renovation-investment-terms-explained">can read our explanation here</a>, but essentially it's a light fix up that doesn't require structural changes or, usually, any council approvals. These are the best projects for novice renovators and homebuyers and the least likely to see you make poor decisions.
The pitfalls around renovating can be many and they can be very expensive. From overcapitalising, to DIY-ing where you shouldn’t, you must go in with a plan in mind.
However, it doesn’t always have to cost you a fortune. Reno Kings’ Paul Eslick suggests focusing on the following areas for bang for your buck:
<ul>
<li>A new coat of paint</li>
<li>Install a fence</li>
<li>Get your gloves on and do some light landscaping</li>
<li>Laminate and tile paint in the kitchen and bathroom (also consider replacing hardware such as taps and handles)</li>
<li>Window furnishings can make your home look a lot better, consider straight venetian blinds</li>
<li>Better lighting</li>
</ul>
These simple things should help improve any lacklustre purchase.
Renovating for Profit’s Cherie Barber treats renovating as a scientific process. Here is her eight-step process that she follows to get the maximum equity out of her properties in the quickest time possible:
<ol>
<li>
Structure and strategy - The structure in which you purchase is crucial to ensuring you are taxed efficiently at the very end of the process. Should you purchase in a trust, SMSF or company structure? - Decide on the strategy upfront: Is it buy/renovate/hold, buy/renovate/sell or something else? 
</li>
<li>
Suburb due diligence - Investors must know suburbs down to a street level. Pointing to her target suburb of <a href="/news">Balmain</a>, she explained that she knows where the negative and positive price pockets are, or where the prices change, and the reasons for this. - Ensure you're targeting the right type of suburb for the renovation you intend to undertake. Middle ring and outer areas tend to suit cosmetic renovations, while inner city areas tend to favour structural. 
</li>
<li>
Pricing due diligence - The real estate agent's job is to make the vendor money, never forget this.  - Ensure you are looking at true comparables - your suburb due diligence should assist you with this process. 
</li>
<li>
Property due diligence - Ensure you're not purchasing a property with major defects you cannot rectify under your budget (think about the hidden problems, such as termite damage or bad wiring). - Check that the property stacks up for the majority of buyers in the area. Your demographic is crucial, and you should be thinking about a property as a product. - Calling council and a number of other local experts will save you money in the long run. 
</li>
<li>
Acquire - The purchasing process and negotiation can be crucial for getting the price right. Ensure you enter in unemotionally and knowing the value (pricing due diligence). - There are a number of different conditions, requests for early access and similar that can be asked for at this part in the process. 
</li>
<li>
Council approval (usually for structural renovations) - The earlier this part of the process is started the better. Investors should be prepared for councils to take longer than is often stated on their websites. - To get an idea of how long the process might take, check online and see what has already been approved and the time frames. Expect it to take longer. 
</li>
<li>
Renovate - Get some good tradespeople and treat them well. It can often take a number of renovations to get your team selected. - Keep organised, keep timelines and ensure effective communication. - Avoid being the DIY-er unless you have done it before effectively. 
</li>
<li>
Sell/Rent - While you should have been clear on which of these approaches you were going to take since step one, it's now important to ensure you approach the best real estate agents and property managers for the job. - Treat choosing agents as an interview process, rather than solely basing it on personality. - Ensure that at any opens, the changes you have made to that process are highly visible and communicated to potential tenants/purchasers.
</li>
</ol>
You might also want to read <a href="/expert-insights/building/twelve-key-points-to-consider-before-you-start-home-renovations">Lisa Montgomery’s 12 things to consider before you start your home renovations</a>.
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jduke-EHk3XBmHkn

Looking for a “renovator’s dream”? Here’s what you need to know first

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Buying a property is the “Australian dream” and in our national psyche. However, not every person is quite ready to buy a property.
Here are 10 reasons that may suggest you’re not quite ready yet.
<ol>
<li>
You’re not ready financially If you haven’t got the required deposit yet, or you’re going to be financially stretching yourself to cover repayments, then it might be a sign you shouldn’t be buying quite yet. You might also have other financial goals, such as starting a business, that don’t align with owning a property. Be honest with yourself about what you can afford and your comfort level associated with debt. When you manage to reach that bracket then you can consider buying. In the meantime, keep saving and learning about real estate – just because you’re not ready today, doesn’t mean you won’t be ready in six months or longer. Buying a property is a huge financial commitment,and so speaking to a broker or a financial planner could be worthwhile considerations as you get your finances in line. 
</li>
<li>
You’re not ready personally Perhaps you’re enjoying the flexibility of your lifestyle as a renter, or you have to regularly travel for work – these may suggest to you that owning a home isn’t quite the desired situation for you yet. On the other hand, if you’re considering an investment property, you need to ask yourself whether you’re personally ready to be a landlord. If the idea of having tenants potentially breaking things in your home, or just making it messy with day to day living, fills you with dread, then you need to reconsider. 
</li>
<li>
The properties you want are out of your skill set This ties back into our first point about finances, however it’s also about your plans with that property. If you’re hoping to renovate, but don’t have extra savings on top or any knowledge of renovating – then you might not want to take on this particular burden. You may consider bringing in experts first, however don’t consider DIY-ing a project with little knowledge about it. Know your limits - don’t head in looking to do a knock-down rebuild with no experience. 
</li>
<li>
The market is in free-fall Do your research, and don’t ignore the experts. If you’re being warned about collapsing property prices in an area and you don’t have good reason to think they’re wrong – you may want to think twice and set about researching more. Even a flat market for an investor may cost you in “opportunity cost” elsewhere, so pick wisely, study up on a location and listen to other people who know more than you do. 
</li>
<li>
Insurance is the last thing you want to think about Home ownership comes with a significant amount of responsibility, particularly if others are implicated by your decision – such as a partner or children. If you are paying the loan, and you’re not interest in income protection should something happen to you, then alarm bells should be ringing. Insurance on the home, landlord’s insurance if necessary and other policies should be of interest to you. Do not ignore this simple safety net. Similarly, if your job is on shaky ground, then you might want to reconsider taking on another financial commitment. 
</li>
<li>
The market is too hot While there’s no guarantee waiting will be beneficial for you, it may see fewer bidders at auction and a little less competition on the day. If the market is booming, it might just be time to look elsewhere or take a step back. Do not be forced into buying because it seems “everyone else is”. As in point two, this is a personal step and you need to buy for the right reasons, not because of market hype. 
</li>
<li>
Renting is a lot cheaper If you’re looking for a home, but owning is going to be substantially more costly on an equalized week-by-week basis, then you might want to have another think about purchasing. Yes, there are multiple reasons you’d consider buying a home beyond the day to day financials, however it doesn’t stack up for everyone. You might want to <a href="/expert-insights/renting-v-buying-how-does-it-stack-up-for-you">read our Renting versus Buying debate</a>. 
</li>
<li>
The building and pest inspection is a shocker If the rectification work noted on that building and pest inspection works out to be a stack load more money than expected, and the vendor isn’t budging on the price, then you want to steer clear. Unless you’re getting the property at a steal – in which situation you’d want to be wondering why it’s so cheap – it’s not always worth the aggravation. 
</li>
<li>
A lot of properties are being developed This point is down to your own research and analysis of an area. However, if you’re looking to buy a standard apartment and a vast number of other apartments are slated for development, it should have you a little concerned about how supply may affect your re-sale value. You also want to consider if any of your views are being built out, or if congestion will become unbearable. While local development isn’t always a negative, it can be the nail in the coffin for your own property purchase. 
</li>
<li>
You don’t want to cover maintenance Part of owning a house, and keeping it in good condition for future re-sale, is maintenance. Whether it’s fixing leaks, paying for things to be re-painted, or just chasing the council round the clock to prune back trees or get neighbours to move their trash – it can be hands on being a home owner. Where renters can call the property manager and ask for a fix that doesn’t always come, home owners will need to proactively do these things themselves. If paying for maintenance and upkeep doesn’t suit you, it might be that property ownership isn’t for you quite yet.
</li>
</ol>
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The 10 signs that you may not be ready to buy

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When looking to buy a property, the one thing that concerns every purchaser is how much the property is really worth.
As one of the most expensive purchases of lives, it’s understandable to be concerned about overpaying.
However, determining “market value” is trickier than it sounds. While it is effectively true that "market value" is whatever the market will pay for the property when it sells, this advice doesn’t do new buyers, or even experienced buyers, any favours when they’re working out what they should prudently offer or bid for a home.
The methods to work out what you should pay are varied and some of them require a lot of time and effort.
Heading to the suburb’s median price may be on many a person’s “top” thing to do to get an idea of value in a suburb. However, this is fraught with difficulty. Here are four things you should know about median price first, before deciding to use this as a way to determine value (it’s not).
With median prices ruled out, what are we left with?
Buyer’s agent Patrick Bright says that it is through comparative market analysis that buyers will work out the best price to pay. That is, looking at other properties on the market or hose that have recently sold and using this to get a gauge for what this property should sell for. This isn’t a bad technique.
He suggests that 100 comparable homes are inspected. Quite an undertaking.
“When I started in real estate as a selling agent I didn't really have a clue what homes in the area were worth. The owner of the real estate office said to me, 'Patrick, you need to learn what the market value is of homes in the area. I want you to go out and see as many properties as you can in the next few weeks'. He told me I had to inspect each home and document all its relevant features,” writes Bright.
“I decided that I was going to inspect 100 properties and so I pretended to be a home buyer for about four weeks. I covered four or five suburbs, looked at a little over 100 properties and took notes on each one. I wrote down the asking price and what I thought they were worth and followed them up after they'd been sold,” he explained.
He attended a lot of auctions as well, and by the end of the month he was fairly confident about what the market was doing and what properties were worth.
He says this is some of the best advice he has ever received and <a href="/expert-insights/investing/how-to-determine-a-propertys-true-value-patrick-bright">while it’s a lot of work, it’s worthwhile</a>.
Meanwhile, Michael Matusik points to rental returns as a key factor in determining value, particularly for investment properties. He says that they should really be used as the benchmark.
“And the 5% gross rental return – the old school marker which essentially converts to $1 in weekly rent for every $1,000 spent buying a property – is still the most accurate measure, in my opinion, to help determine investment value,” he writes in his explanation.
Technology is increasingly looking to make our property research easier. The new app RealAs looks to present predictions of what the properties are worth, and notes that they do so with a high degree of accuracy – factoring in features like what is on the market and comparable aspects.
Sadly, the algorithm is a closely guarded secret and is not available for everyone to play around with – but it <a href="/news/can-this-algorithm-determine-what-a-bad-property-is">does allow you to plug in any property that’s on the market right now and see their estimate</a>.
Then there’s the option to pay for a professional valuation. There are four types:
<ol>
<li>Full valuation 
</li>
<li>Short form or pro forma valuation 
</li>
<li>Restricted valuation (to include “restricted assessment”, “kerbside” and “drive by” valuations) 
</li>
<li>Desktop (to include electronic valuer review - EVR)</li>
</ol>
Source: RP Data
If you want to know the differences between these valuations, and how each of them is calculated, you can <a href="/news/how-much-is-my-home-worth-judging-a-propertys-value">read our in-depth explanation here</a>.
See over page for the things you must know about valuations.
<hr class="system-pagebreak">
A valuation may appear to be the natural way to answer this question of what your property is worth, so let's take a closer look.
<blockquote>
MUST KNOW ELEMENTS:
<ul>
<li>It's not an appraisal</li>
<li>They're not an exact science</li>
<li>There are multiple types of valuation</li>
<li>Comparables are heavily relied upon</li>
<li>You can assist the valuer</li>
</ul>
</blockquote>
There are also many reasons why you’d want to get an independent valuation – observer<a href="/expert-insights/investing/five-great-reasons-to-get-an-independent-valuation"> Cameron McEvoy aptly describes five crucial reasons you’d consider this</a> - and so it pays to be aware of what is involved.
Here are five ‘must know’ elements of valuations:
<img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">It’s not an appraisal
You may have had an appraisal with a real estate agent and now believe that your home can fetch in excess of $630,000 on the current market. This may be the case, however a real estate agent’s appraisal is not a valuation and will not be accepted by the bank as such.
While most real estate agents act with professionalism, investors must be aware that it’s not unheard of for real estate agents to alter the appraisal they provide you to match your expectations and to be fairly bullish with their appraisals to secure a listing.
A valuer, however, is immune to these pressures, tasked with one job and one job alone – valuing your home.
<img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">They’re not an exact science
It will be of no surprise to any savvy investor that figuring out the price of a property is never an exact science, even for those trained in the valuation field. Similarly, obtaining two different valuations also isn’t an unheard of occurrence and is the reason many investors will head to a different bank to obtain financing, particularly after a renovation.
Observer <a href="/expert-insights/investing/the-murky-waters-of-bank-valuations-mark-armstrong">Mark Armstrong refers to bank valuations as being ‘murky waters’</a>. “Remember if a valuation comes in too high and the bank loses money on the loan then the valuer maybe legally liable,” he notes, which may suggest why there is also a general impression in real estate that valuers are conservative with their estimates.
Similarly, it has been pointed out time and time again, such as <a href="/expert-insights/investing/home-valuations-can-be-subjective">by Mal James in this article</a>, that valuers are subjective. This is because they are human beings, and they act with the information provided and their knowledge to come up with the best possible response.
<img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">There are multiple types of valuation
While we’re focusing on a fairly rigorous in-person valuation, there are a number of different types of valuations. From the DIY desktop valuation (which have <a href="/expert-insights/investing/diy-website-property-valuations-mostly-askew">varying results of accuracy</a>), to the ‘kerbside’ drive by valuation, be aware that not all are created equal.
RP Data lists four different types of valuation that you'll want to understand:
<ul>
<li>Full valuation</li>
<li>Short form or pro forma valuation</li>
<li>Restricted valuation (to include “restricted assessment”, “kerbside” and “drive by” valuations)</li>
<li>Desktop (to include electronic valuer review - EVR)</li>
</ul>
<img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">Comparables are heavily relied upon
One of the major aspects that valuers look at to come up with a final figure is that of 'comparables'. That is, recent sales in your area that are close to your property in location and type. A valuer will be required to judge whether your property is superior or inferior to these sales, and so adjust their valuation accordingly.
If you want to get an idea of how the valuation may stack up, it'd be worth finding out the latest sales that they will be looking at. This also means that for properties in remote areas, or unique style homes, it will be trickier for the valuer to come up with a figure and, therefore, more subjective and down to interpretation.
<img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">You can assist the valuer 
As with any property, present it with its best foot forward for the best change of securing a good valuation. While valuers do not want to be harassed, told how to do their jobs or provided information that could sway them against the numbers, you can be helpful and provide information about improvements undertaken since purchase.
Be on site, ready to ask and answer questions, and have all the information about your property on hand.
Despite the reasons to get a valuation, there’s always the other side of the argument. If you’re considering a valuation, you may also want to hear <a href="/expert-insights/investing/property-valuations-a-waste-of-time-and-money-terry-ryder">Terry Ryder’s thoughts on why valuations are a “waste of time and money”</a>. Late last year, Property Observer also covered a heated debate that asked for an ‘overhaul’ of the valuations industry.
Tips for those wanting to get the best from a valuer:
<ul>
<li>Provide them a list of comparable sales (potentially inside the same project, as well as some that are not). While not all valuers will use them, some will. 
</li>
<li>Apply for finance six months before completion, not six days and if you find the valuation comes in low it gives you time to get a third and a fourth. 
</li>
<li>Attain your own valuation, using a valuer that is on your bank's panel of valuers. 
</li>
<li>Ask to see a soft valuation so you can check the comparables used and the comments made. 
</li>
<li>Bear in mind that the valuer often has a different valuation for mortgage purposes as opposed to sale purposes. But mainly: 
</li>
<li>Do your research beforehand.  Go out and look at 100 or even 10 before you make a purchase decision. If you've done your research you should be confident it will value up.</li>
</ul>
Source: CPM Realty
FURTHER USEFUL READING 
<a href="/expert-insights/finance/how-to-get-property-valuations-right-terry-hayes">How to get property valuations right</a>
<a href="/expert-insights/investing/property-valuation-101">Property valuation 101</a>
<a href="/expert-insights/letters-to-the-editor-valuation-experiences">Letters to the editor: Valuation experiences</a>
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How to: Determine market value so you don’t overpay

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Building and pest inspections may set you back a few hundred dollars, but are a crucial piece of information that can serve to be either a negotiation tool or a warning sign about the property you’ve been considering.
For those who haven’t seen many building and pest inspections, you need to be prepared. A mention of termite damage isn’t necessarily a death sentence, while smaller elements can be more worrying than you’d think. The trick is to keep a calm mind.
First things first, you need to pick a building and pest inspector. Just like every other profession, they’re not all made equal and you want to know exactly how good their services are first. You can read our <a href="/news/how-to-choose-a-building-and-pest-inspector">“how to” guide on picking a building and pest inspector here</a>. You can get the building inspection and pest inspection done separately, or opt to have one but not the other. However, it's common to have both done in one go. It is also increasingly common for inspections to be undertaken even on new builds, to ensure everything was done to standard.
For Compass Queensland building and pest inspectors, a three or four bedroom house will set you back $495. They cover the roof cavity, sub floors, fences and gardens and send in two inspectors. You are welcome to go with them, and it is often the case that you can accompany the inspectors. They will often use thermal imaging, moisture detectors and other instruments to determine if there are any issues.
Usually, the standard turnaround from booking is within 48 hours – however, you should always prepare in advance in case they are busy.
Then, when you have the report, don’t be taken aback.
“When the report arrives, it’s usually around 30 pages long and for first-time readers, can completely shock and turn them off a property,” explains Jo Chivers.
It will include information about the internals and externals of the property, and most likely will include photographs. Some include videos as well, and some are presented entirely in digital form (usually preferred).
“The report contains a lot of information that the inspector needs to explain and also to include in order to “cover” himself.  It’s his job to point out all the things wrong with the house, but then it’s our job to sift through the data and explain to our clients what we believe to be acceptable or common in houses in this particular area and of this particular age," Chivers explains in her observer column about <a href="/expert-insights/building/how-to-read-between-the-lines-of-a-pest-and-building-report-jo-chivers">understanding the inspection process.</a>
Usually, the first page will give you an idea of the overall condition and how this lines up with other properties locally (this is why it can be beneficial to use a local building inspector).
While the building and pest inspectors are legally required to meet thorough inspection standards, their reports often come with a number of clauses, terms and conditions to avoid potential lawsuits in the future. This is now standard and the inspection is no warranty or guarantee of the quality of the build.
If you don’t understand something in the report, call the inspector and ask them to go through it in detail. However, they are unable to give you advice as to whether you should still purchase.
Then it’s time to either decide that the faults identified in the report were expected or not an issue, choose to not continue with the purchase, or <a href="/expert-insights/investing/renegotiate-with-your-building-and-pest-report">look to re-negotiate the asking price based on any faults you’ve found in the inspection</a>. This is increasingly common practice.
For every defect you see noted, you need to ask yourself (or head to a builder or other professional) how much it will cost to rectify that issue. If the damage or any infestation seems excessive and leaves you concerned, it’s worth asking a few builders to quote you on the repairs. Keep these quotes as they can help in your negotiations for justifying any discount you are asking for.
It’s also interesting to note <a href="/expert-insights/investing/key-steps-for-preparing-your-house-for-a-building-inspection-michael-ferrier">how the buyers are expected to prepare for the inspection</a>, as this can give you an understanding of where issues may be hidden - and why your inspector is warning you they didn't get access to a certain area.
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How to: Navigate the building and pest inspection

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You're house is being auctioned off and the proceedings have stalled - significantly.
You feel like all the buyers need is a little push, but they aren't moving - and the highest bid is well below your reserve.
Suddenly, you're wishing that you had authorised your auctioneer to put in a vendor bid on your behalf to keep the ball rolling.
A vendor bid is just what it sounds like - a bid from the seller to help push up the price at auction. The regulations around vendor bids vary from state to state, but in general, an auctioneer must announce if a bid is being made through the vendor.
Everyone wants to do what they can to push up the price of their property at auction, but when exactly do you use a vendor bid?
Vendors certainly don't have to bid on their own property. If a vendor does want to put in a bid, it should only be put in if the prices are hovering below the reserve price, and shouldn't be put in above the reserve price.
In fact, once you've passed your reserve, making a vendor bid is illegal in some states and known as a false bid - if you're not willing to accept a price above your reserve, you should have set your reserve higher. After the reserve is passed, the highest bid must be accepted by the vendor as the sales price (assuming finances all come through as they should).
Similarly, if your auctioneer doesn't announce that the bid came from you, it becomes a dummy bid - also illegal. The same goes for bids made by your family or friends if they don't intend to purchase the property. 
In New South Wales, only one vendor bid can be made, while other states accept multiple vendor bids. If you're selling a property in NSW, carefully talk over when you should make a vendor bid (if necessary) with your auctioneer before the auction, because you only get one chance.
 
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jrichardson-uRX5hFdKfN

When should you use a vendor bid?

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Sydney’s south-west site The Hermitage’s latest land release Gabriel’s Run has secured a sell out of the land lots in their Gledswood Hills release.
More than 650 registrations of interest were received for the launch, said Sekisui House sales and customer relations manager for <a href="https://www.thehermitagesydney.com.au" target="_blank">The Hermitage</a>, Craig Barnes.
“Sekisui House has and continues to experience an unprecedented demand for land at The Hermitage which is showing no signs of slowing,” said Barnes.
He said that each release consistently received between 300 and 500 registrations of interest.
In this latest release, lots ranged from 476 square metres to 760 square metres, priced from $285,000 to $385,000.
Barnes said that the next land release is expected later in the year.
At present, The Hermitage includes the largest display village in Sydney’s south-west, HomeWorld. Over 700 lots have sold since its March 2012 launch.
Including Gabriel’s Run there are another three precincts – Hardy’s Rise, Chisholm’s Corner and Donohue’s View.
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Gabriel’s Run, Gledswood Hills latest release secures weekend sell out

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Chinese developers are making their presence increasingly felt in Australia and it doesn’t seem that they’re set to slow down.
While Sydney and Melbourne has typically been a popular spot for Chinese apartment developers, it appears that larger companies are looking far and wide across Australia’s market for opportunities.
Here are eight you should know about.
<ul>
<li>Zone Q Investments Pty Ltd</li>
</ul>
Just this week, a $70 million residential tower Pinnacle in South Perth was announced by developer Zone Q as the project that will mark their entry into the Australian market. Zone Q, whose parent company is a privately-owned group with a presence in South China’s apartment market and a focus on Shenzhen, has also earmarked two other Western Australia sites for development.
Zone Q is the Australian arm of mainland Chinese developer JiaHe JianAn Group.
This South Perth, Labouchere Road apartment project will be 20-storeys of luxury dwellings, overlooking Perth Zoo, and will include a $30 million seven-storey commercial tower with retail ground floor.
The entire development, totaling $100 million, will be complete in late-2016. It also marks the tallest tower receiving approval in the City of South Perth in 45 years.
The two lots that form the site for Pinnacle were purchase in late-2013 for $10.7 million, and will soon house the 60 two-bedroom apartments, 40 one-bedroom apartments and two three-bedroom penthouses.
<ul>
<li>Country Garden Australia</li>
</ul>
Country Garden, the Hong Kong-listed development company, has recently <a href="/expert-insights/buying/ryde-garden-debut-for-country-garden-australia">been named as one of the interested parties in purchasing Harry Triguboff’s Meriton</a>.
Country Garden are the developers behind <a href="/expert-insights/buying/strong-off-the-plan-sales-at-country-gardens-ryde-garden-project">North Ryde development Ryde Garden</a> that saw 296 sales in six hours of its launch. This was their first Australian development site, which they purchased in late-2013 for $73 million.
They're a high-end focused developer, and Ryde Garden was notable for being part of one of the biggest urban renewal projects in the history of the state.
<ul>
<li>Wanda Group and Ridong Group</li>
</ul>
The chairman of Dalian Wanda Group is Wang Jianlin – the richest man in China, and recently decided to buy into a Surfers Paradise hotel development site in a joint venture of the $1 billion project.
Known as the Jewel development, it includes 1.13 hectares, set to span three-towers and covers 110 metres of beachfront.
We’ve put Ridong Group in the same entry as Wanda Group as they listed the Broadbeach opportunity seeking equity partners.
Sydney has also reportedly been on the Wanda radar, and for the meantime <a href="/news/chinas-richest-man-wang-jianlin-close-to-buying-into-surfers-paradise-development-site">we’re likely to hear a lot more about Jewel, with construction to start in 2015</a> and scheduled to be completed in 2018.
<ul>
<li>Greenland Group</li>
</ul>
Launching a new North Sydney development called Lucent late next month. With a display suite opening this weekend, they’re also behind what is set to be Sydney’s tallest residential tower Greenland Centre.
Greenland Centre, at 115 Bathurst Street and 339 Pitt Street,
The new North Sydney development will include 211 apartments, from studios to three-bedroom residences. Pricing is as yet unavailable, other than studios – which will start from $528,000. The state-owned Shanghai based group is positioned 87th among the top 500 China enterprises since 1992, and has construction projects in 65 cities in 24 provinces of China.
Their aim is reportedly to enter the Fortune 200 list by 2015.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li>Harman Global Holdings</li>
</ul>
This Chinese-backed group has made the list for being one of the few to offer house and land packages, with a particular focus on the north-west suburbs of Sydney, the Hills District.
An $80 million Castle Hill development and a $5 million Kellyville site have both been purchased for house and land packages.
The Australian Financial Review reports that the majority of the purchasers into these house and land estates are Chinese.
They also recently spent $33 million purchasing the Kooindah Waters Residential Golf and Spa Resort on the Central Coast, which is set to remain operating, including a hotel and house and land offerings.
<ul>
<li>Bridgehill Group</li>
</ul>
Notably more quiet with their developments, Bridgehill Group hasn’t been any less successful. With their Milsons Point, Arthur Street apartment development – which began construction in December – it was an office block that they have been converting into apartments.
More recently, they spent more than $90 million for an ex-council depot in Zetland. The intention is to built a $500 million apartment development.
They were previously the developers of Azure and Monaco at Rhodes, and are notable for the currently selling Esprit by Bridgehill in Mascot.
<ul>
<li>Starryland Australia</li>
</ul>
Fuxing Huiyu Real Estate Co Ltd, the 23rd largest publicly-listed company in China, is making waves. Their first Australian foray has been the much-publicised $550 million spend across 11 apartment towers in <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">Sydney’s Parramatta through newly created Starryland Australia</a>.
Promenade Parramatta, their creation, saw the land for the development bought in September last year by Starryland after their June 2013 formation. They are, however, Melbourne-based.
<ul>
<li>Ausbao</li>
</ul>
Recently dipping their toes into the residential market, Ausbao is looking to redevelop a Sydney CBD office building into apartments at 286 Sussex Street. In June this year they lodged a development application for a 26-storey creation on the site.
The company, a subsidiary of Beijing Capital Development Holdings, are known for Chinatown’s The Quay, a mixed-use development with 270 apartments. The site had been long dormant due to the effects of the GFC.
Honourable mentions go to Marine Parade Holdings, a wholly owned subsidiary of Chinese-based Sunbano Group, for their $85 million Coolangatta development Sanbano Coolangatta, which their marketeers where calling the <a href="/expert-insights/buying/chinese-developer-creates-the-palazzo-versace-of-the-southern-gold-coast">"Palazzo Versace of the southern Gold Coast".</a>
Hengyi, an affiliate of Shandong HYI, also narrowly missed our top eight – recently bringing Light House and The William to market, although remaining quiet about their future plans.
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