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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Searching for an investment property or a home loan was not stressful for 76.3% of those surveyed in RAMS’ latest First Time Investor Survey 2014.
However a quarter of respondents said that they still don’t know where to start. There were also a number of pet peeves listed by new buyers.
In particular, the RAMS survey found three common property descriptions that first time buyers detested so much, that they would apparently seek legislative action to never see again.
The top three property descriptions that those surveyed wanted “outlawed”:
<ul>
<li>"Hot Property"</li>
<li>"Water Glimpses"</li>
<li>"Renovator’s Dream"</li>
</ul>
Source: RAMS.
According to the survey results, first time investors initially turn to real estate websites (38%) before trying a friend, family member or colleague (24%) and then looking to a real estate agent (23%) for assistance in finding their first investment.
The survey uncovered a majority of first time investors (51%) said that they would prefer researching their first investment property to having dinner with the in-laws (15.4%) or completing a tax return (11.2%).
A majority noted that they were looking for somewhere in a quiet neighbourhood, new appliances and fittings and close to public transport. The main purposes of the investment was potential capital group, followed by current low interest rates and tax benefits.
RAMS CEO Martine Jager said that first time investors are becoming savvier and increasingly using the resources available. However, she noted that face to face expert advice is still one of the most valuable tools.
Despite the lack of stress in searching for a property, 43% noted that rising interest rates are a concern and their long-term ability to pay for the property, as well as bad property management, were areas of worry.
“Despite first time investors being wary of rising interest rates, they do not appear to be overly sensitive to such increases, with their intention to invest only deterred by larger rate rises,” Jager said.
“The survey results showed that interest rates would have to rise by 2% before first time investors would start to rethink their strategy – which means, given recent fixed interest rate cuts by some lenders, even if the rate direction changes suddenly, there could still be at least a year of strong demand left in the Australian property market,” she explained.
“The survey results show that while investing in property is not a taxing exercise, there are still aspects of the search and buying process that are unappealing to buyers.
“It’s not surprising to find that most first time investors cite exaggerations with property descriptions as their biggest pet peeve when trying the find the right property to invest in. After all, buying a property is not just a financial commitment it is also a big investment of your time, and misleading listings can be discouraging and frustrating.”
Jager noted that first timers were mainly looking for cheaper entry points into the market.
“For many, this means buying a modest property in more affordable suburban areas which have good capital growth potential.” 
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The three property descriptions that first time investors want "outlawed"

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When you are thinking about selling a property, securing the best real estate agent is a vital consideration – agent choice is often the key difference between a great or mediocre result. So how can you ensure that you not only pick the right agent, but also get the most out of their services?  
Here are my top tips for selecting, and maximising the value of, a real estate agent.    
<ul>
<li>Don’t go with the cheapest agent</li>
</ul>
It is critical that you don’t make finding the cheapest agent, or the agent that offers you the least amount of advertising, your first priority. Why? Because if an agent can’t negotiate an effective fee for service with you, it’s unlikely they’ll be able to negotiate an effective sale price for your property.  
<ul>
<li>Find a performance-based agent</li>
</ul>
There is a tendency to believe that agents with many ‘for sale’ signs are the most effective and capable of selling property. However, in this particular context, when perception meets reality, reality often comes off second best. 
The reason for this is that ‘for sale’ signs are predominantly an indicator of an agent’s activity, not their results – an agent may have a large amount of listings, but they might not actually be selling anything.  
Try to keep in mind that a ‘for sale’ sign is initially a sign of success, but after four weeks, it becomes a sign of an agent’s failure to get the job done.  
I would recommend searching for agents that have the most ‘sold’ signs in your area, as these agents will most likely be performance-based as opposed to activity-based.  
Once you’ve identified an agent with a large number of ‘sold’ signs, you may want to consider knocking on the front doors of some their sold properties to ask the owner-occupiers how the selling process went. Doing so will allow you to gain some first-hand insights into the agent’s previous performance, which may help you to decide whether or not the agent is right for you.    
<ul>
<li>
Find an agent that treats you like their only client  
</li>
</ul>
It is reasonable to expect that your agent will meet with you on a weekly basis to give updates on all developments relating to your property’s sale – not just in person, but in writing as well.  
Remember – if it’s not in writing, it didn’t happen, so make sure that your agent commits up-front to giving you regular written updates.  
If your agent is prepared to document updates, it will not only show that they are serious about the transaction, it will also give you a tangible reference point to make them accountable should they fail to deliver on their undertakings.  
As an extension of this point, I would advise to look for an agent that speaks to you only about your property, and not about how busy they are with everybody else’s. It is relatively safe to assume that if an agent doesn’t give your property adequate attention in your presence, they’ll struggle to do so when you’re not around – so aim to find an agent that treats you like their only client.  
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li>Build an open and honest relationship with your agent</li>
</ul>
Building an open and honest relationship with your agent is one of the best things you can do in terms of ensuring that the agent’s advice is aligned with your best interests.  
Real estate practitioners are generally very sociable people who want to achieve the best possible outcomes for their clients. The best agents, however, are the ones that give honest and open advice – even when their clients don’t necessarily want to hear it.  
Of course, as a vendor, you want to achieve the best sale price for your property with the minimum outlay possible. However, the worst thing you can do is make your agent feel uncomfortable about managing your price expectations or giving you bad news.  
Your agent needs to feel at liberty to give you honest and accurate information on buyer feedback, market conditions and the like so that you can make a fully informed decision about when to sell, and at what price.    
<ul>
<li>Be flexible with your marketing</li>
</ul>
There are usually two reasons as to why a property doesn’t sell – either the vendor’s price expectations are too high or the marketing of the property is poor. If you agree to and sign off on a marketing strategy with your selling agent, it is important to hold the agent to delivering that strategy in full.  
In saying that, it is also important to be flexible with your marketing and to adjust your strategy if need be.  
In order to know when flexibility is required, you will need to be able to properly assess whether or not your existing strategy is working. As such, you should aim to meet with your agent during the first one to two weeks of open for inspections to discuss buyer feedback and interest in the property.  
If buyer feedback is poor and interest is low, the agent may recommend that you increase your marketing budget. Though this may not be what you originally agreed upon, I would suggest being open to increasing your marketing spend if your original strategy has proven ineffective. Doing so will likely increase your chances of not only selling, but achieving a strong sale price.  
Charles Tarbey is the chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21 Australasia</a>, one of Australasia’s largest and most diverse property groups.  
Charles has been actively involved in the property industry since 1972, and has trained and given advice to thousands of real estate agents, vendors and purchasers. He is also the author of two real estate books, Profit Driven Real Estate and Listing Rich.
This article first appeared on Property Observer in September 2013.
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Five tips to get the most out of your real estate agent

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What is a property worth and who determines the end value? Odds on, it’s the valuer.
To most property investors, the phrase “a property is worth what someone is willing to pay and what the vendor is willing to accept” would hold true. This premise does not necessarily hold true with the banks funding the purchase, the agents and particularly the valuer.
How can so many industries hold vastly different opinions over the value of a property?
The Funding Banks Position
Over many years I have attended hundreds of bank valuations for settlement purposes and valuation inspections for re-financing purposes. As a novice I expected identical results. However, experience taught me that the same property may be valued for different purposes and the figures can be 10%-15% apart.
Sometimes one valuer will have a very different opinion to another valuer. Even worse, I have had the same valuer place different values on identical properties only a few weeks apart. Both were the same in style, configuration, position, block and level. How could this be so?
I soon learned it was due to the loan to value ratio (LVR). The funder simply wants to hedge their financial position and loan. It makes sense, the higher the LVR the lower the valuation. Different banks adopt different policies and therefore some are more lenient than others. The rule of thumb for a valuer is, as instructed by the banks, to value at a price point that could be achieved if the property was to be taken to an urgently orchestrated auction.
How is it that lenders settle on what is considered to be an overpriced property? As you dig deeper, the loans requested are typically at low LVRs, usually less than 70% of the sales value of the property. If the bank valuation does come in low however, the buyers are comfortable to tip in the balance. Most overseas investors do not walk away from a settlement as a local buyer would.
The alternative in today’s market is to hedge the loan with lenders mortgage insurance (LMI). Even if the banks do accept a lenient valuation and provide a high LVR, they are protected. The buyer however pays a high price to protect not themselves but the banks interest. This may be seen as typical in a hot property market like we are in now.
The valuer’s role
The role of the valuer is to provide fair and market value of a property. A simple request, but not a simple exercise.
The valuation is performed by an individual that has spent years obtaining a university degree to competently provide a report. However, market conditions and banking requirements negate the proper process of what would otherwise be a textbook valuation.  
Here are some of the difficulties and insights I have been able to hear firsthand from valuers over the years:
<ul>
<li>Time pressures to perform a well-structured inspection. Typically a valuer will only spend on average five to 10 minutes at the property. More time is spent travelling from one appointment to the next.</li>
<li>Pressures to adhere to individual banking requirements, as opposed to market forces.</li>
<li>Pressures of funders paying less, when valuers face greater costs to run a business and provide a service. Increasing costs of personal indemnity insurance and staffing overheads are some of their concerns.</li>
</ul>
So given these hurdles, how can the valuers do their job in the right manner? The valuation process may constitute measuring the property inside and out properly, ascertaining the value of the construction of the dwelling, working out depreciation of fixtures and fittings, the depreciation of dwelling ratio to appreciation of land ratio, rental returns and most recent sales in the area of like properties and how they compare in all aspects.
Not a lot of time is allocated or adequate reward given by the funder to do a proper assessment. Therefore the valuers rely on the local agents for recent sales data and other forms of online tools/websites. Most importantly, the valuers are reliant on the contract of sale (the front page outlining sale price and special conditions).
Special conditions may note any vendor guarantees such as rents, gifted cars or other incentives. The valuer can also work out from the contract as to who sold it to gauge commissions paid out.
For a valuation of a refinanced property, the valuers are also relying on the documentation which outlines the revaluation amount sought by the owner. Information passed on to the bank by the mortgage broker and by the bank to the valuer.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
How independent is the valuation under the stated conditions?
I will throw my hat in the ring and say, not very independent at all. Allow me to raise the following concerns and you can assess for yourself if the valuations are as independent, accurate and as transparent as we would like to believe they are.
<ul>
<li>The bank orders the valuation and pays for the valuation.</li>
<li>The valuers understand who “the hand that feeds them” is. Therefore, are they persuaded by the policies put in place by the lenders, or will they genuinely adopt a totally arm’s length approach?</li>
<li>How can valuers make well educated assessments of the property when such little time is spent at the property due to time constraints?</li>
<li>How in-depth are the valuation reports and how much data is imported to create the report when the rewards are so small in comparison to time spent?</li>
</ul>
 If you believe the above is entirely a speculation on my part, made from purely a cynical point of view, then one should ask the following question: Why do valuers ask for and need the front page of the contract before writing out their report?
It is a question that underpins my belief that valuers are simply not paid well enough, nor given sufficient time to conduct and produce proper valuation reports. Valuers have become short change researches and quick photo takers, which rely purely on instant data to satisfy their client: the banks.
But not all is lost, as I do take my hat off to the valuers that take time to research the market, have an understanding of construction and keep up with market conditions and trends.  Not dissimilar to the good real estate agents that shine in the high markets as well as in the low turning markets.
So here are my four tips to achieve the most in a property valuation:
<ul>
<li>Prepare the property for a valuation as you would for an open house.</li>
<li>Don’t send the valuer to a tenanted property without being accompanied by the agent. The agent should be equipped with research data to promote desired outcome.</li>
<li>Do as much homework as you can for the valuer and have the print outs of like properties that will give you the desired outcome, even if it’s for a re-finance situation.</li>
<li>Always accommodate the valuer with time and don’t make them wait.</li>
</ul>
If you believe the above is true and you have had similar circumstances as those described, I would like to read your comments.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
Propell's Bart Mead and Mark Nassif have responded to this article in a piece you can read <a href="/expert-insights/property-valuations-arent-an-opinion-they-are-a-professional-standard">here</a>.
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ealmedia-arK4DBYLjS

How independent is a property valuer?

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GUEST OBSERVATION
My career in real estate began as an interest. I had bought and sold a couple of properties personally, lived overseas, raised two small children and took it up as what I called ‘my fun, little part-time job.’ Back then, I loved getting into a suit three days a week and going off to work, doing open homes, doing call backs, organising my boss and helping her find business and winning listings. I loved it.
While I was doing this, I learned as much about real estate as I could, not because I wanted to be a gun agent but because I loved it. When you love something it's pretty normal behaviour to want to know as much about it as possible - I guess I get pretty passionate about things.
A career in sales is not for everyone, but for those who excel in it, it can be a very rewarding occupation. Starting off in real estate can be very daunting and as a ‘newbie,’ looking around and admiring all the top agents in the area often leaves people thinking, "could I possibly be as good as them?” There is so much to learn and this job is so varied. 
My light bulb moment came one day after being with the company for more than five years. After seeing so many mediocre agents out there in the industry I wanted, and chose to be, one of the good ones.
How was I going to be a successful real estate agent? I was lucky enough to work (and continue to do so) with a great team of sales experts and watched and listened and learned from all of them. In fact, I’m still learning and in this occupation, you can never stop learning.
I also had a strong belief that I could put my six years of experience into practice - one step at a time. For six years I had told everyone I knew that I was in real estate, so when I was ready I made it known to them again. My database had grown, my kids went to the local primary school and I started sponsoring the school and working my little patch.
From day one I have believed that if you treat people really well for their benefit, it all comes back to you, time and time again. Most importantly, I believed in myself.
Each year I would set a goal and I knew I was the only one accountable for this. Each sale I made, I ran with it, dropping my ‘just solds’ around the whole area, ringing around my database. One sale at a time. For the first year I never once looked at my debit/credit – whether I was actually making any money. Each year my goal was to sell one more property (not based on earnings). This is still my goal.
When I look back at my career and advise younger agents, there are three clear attributes that successful real estate agents generally possess.
<ol>
<li>Pick the area you want to work in for the rest of your career and become the area specialist, the communities trusted advisor. Own your patch, work your patch and aim to become the agent of choice. Always deliver on a promise, and return all enquiries on the same day. If you are good to people (honest, fair and provide exceptional service), they'll be good to you. Connect with as many people as you can as you’ll only ever reach as far as your network allows. </li>
<li>Set realistic goals and work hard to achieve them. Don't get caught up looking at the dollar signs, focus on how many listings you can get. Slow and steady wins the race, working on improving your skills and building your listings is the path to success. Goal-setting is crucial. Success doesn’t happen overnight and you may not start making money for a year or two. Take a long-term approach. </li>
<li>Success takes dedication and sacrifice. Be disciplined and set your own winning formula. Constantly think of ways to improve. Work harder than anyone else when you are new. Be confident. Be humble. Don't waste time, be adaptable. It will be a hard slog to begin with but if you aim to build momentum and continue to work hard you will succeed.</li>
</ol>
Stephanie Hearne has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
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The three common traits of successful real estate agents

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To the inexperienced buyer, finding a quality property at an affordable price is pretty hard to do.
Whether you are a home buyer or investor, this is very hard to do, especially in Australia’s major capital city markets.
Buyers without experience face difficulty drawing a distinction between a crappy property that is full of potential and a property that should be avoided completely.
I’ve always been intrigued by the phrase ‘buying a lemon’. Perhaps I take the opportunist view a little too much though, because this lemon phrase is very similar to ‘what do you do when life throws you lemons? You make lemonade, of course!’.
In the reality of a property context though, this is rarely true. With property it is more accurate to say that some properties are lemons, sure, but only a few of those lemons are actually ripe and ready for harvesting. Other property lemons, though, have fallen off the tree long ago; turned brown, decayed, and are utterly useless.
So, we have ‘ripe’ property lemons and ‘rotten’ property lemons.
In my experience, I would distinguish between ripe and rotten by asking oneself: ‘What are the property’s problems that I can change (cost-efficiently, of course), versus those problems that either cannot be changed or are too costly to do so?’
By no means is this a definitive list; but here are some ideas of ripe lemon (possibly worth buying) ‘problems’ compared to rotten lemon ones (deal-breakers that translate to ‘walk away now’).
<ul>
<li>Rotten Lemon Problems:</li>
</ul>
Location:
First of all comes the biggest problem one cannot change in a property; its location and the other properties surrounding it. If the property is too far away from fundamental ‘renter must-have’ proximity features (transport, work node access, shops, schools etc) than this is something you cannot change, no matter how beautiful the property itself is.
Aspect/outlook:
We cannot change the way the sun rises and sets every day, for instance (though I would like to meet anyone who could!). To some future tenants and buyers aspect is very important. Ensuring enough sunlight is given to living and communal areas is important.
Serious structural problems:
During your due diligence, building, pest and/or strata reports will identify any serious structural issues. For house buyers this will be the house itself. For unit buyers, the strata report will highlight upcoming major capital works and maintainence scheduled in coming years.
Any serious structural problems identified are almost always hugely expensive to fix. When these are identified, the property is a true rotten lemon. Whether it's an investment or a home, you’ll be up for a lump sum of cash to repair it that you may not have so readily handy once the loan itself finalises.
So what about the things you can change? And cost efficiently, too? 
Click through to the next page to find out.
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<ul>
<li>Ripe Lemon Problems:</li>
</ul>
Outdated and ugly properties:
Drab, old, and outdated look (internally for units and both internally/externally for houses). Expert property ‘flippers’ Nathan Birch and Cherie Barber have built entire wealth strategies around this very specialty.
Ripped up ugly carpets can expose beautiful floorboards; cheap fresh paint can add exponential value and appeal, and so on. Inexpensive light (cosmetic) renovation can help bring what looks like a ‘dud’ property up to scratch.
The problem is, selling agents are keenly aware that buyers know how to spot these properties and accordingly the discounting offered may not offset that cosmetic renovation outlay required.
Ugly, cluttered yards:
Poorly presented properties frequently feature cluttered rear yards, sometimes overgrown, or with poorly placed/planted trees and overgrown garden beds. Buyers need to look beyond this to realise this property may not be a lemon and could offer scope for future improvement.
Not enough bedrooms:
More of a house opportunity than a unit one; but consider the problem of too few bedrooms. If the property is especially discounted and the major reason is, say, it is a two bedroom house in an area where three bedrooms is the expectation, there may be scope to cost efficiently reset some internal walls to create a third bedroom.
In older houses this is usually done by consolidating large laundry rooms into kitchen cupboard laundries (when a kitchen is also being renovated) and re-purposing that laundry space.
Awkward layouts:
If it is an older house it may feature an awkward layout that impractical to today’s families/inhabitant types. However, this is another example of ‘ugly duckling’ perceptions; particularly if, at first inspection, the rooms are being incorrectly presented.
How many times have property photos showed dining rooms being used as studies/offices, and so on?
If priced accordingly, there may be an opportunity to consider a poorly laid out property if there is scope to easily move some rooms around later on to suit a better layout.
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Making lemonade from property lemons: How to pick the properties ripe for renovation

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GUEST OBSERVATION
A property purchase is going to be the biggest investment of your life. You might as well get it right.
For the newbie to the property market, it pays off in the long-term to do your research. Yes, you need to fall in love at first sight with your property, but you also need to be smart with your investment, as it will be the building block of your future wealth creation. 
The novice purchaser has to arm themselves with a set of questions and not just react emotionally to the property.
First, do your homework on the developer. Does the developer have a track record of delivering quality product and on time? No one wants long delays and what happens to the interest accrued on your deposit if there is? Do you get to keep the interest your deposit earns over the construction period? 
A walk around the neighbourhood will yield a surprising amount of information to you. You will be able to discover linkages to schools, universities, public transport systems and hidden cafes, gymnasiums and food stores. Amenities such as these will not only greatly enhance your quality of life but also your property's future value.
Importantly, different projects will measure the area of their apartments in different ways. It is worthwhile to ask whether the area stated on the plan includes external areas such as balconies and winter gardens. The area you will be purchasing should not include external areas. The dollar per square metre metric is a handy one for comparing projects but should not be used in isolation.
If you are looking at the property as an investment, what is the projected rental yield for the property? Seek an opinion on rental value from an agent who specialises in the leasing of apartments in the area you are considering.
Also ask some specific building-related questions. Due diligence upfront will save expense in the long-term. Carefully examine the quality of the finishes, appliances and other fixtures. These will vary significantly from project to project and the differences may not be reflected in the price thus eroding value. 
Also housekeeping. Do the exhaust fans vent externally? A must especially in summer time when cooking odours carry more. 
And often a matter of contention, how is the rubbish/recycling dealt with? Are there chutes accessible on every floor? Are their dual chutes? 
But perhaps the most important consideration is, has the development been approved? Many developments go to market first, to make the sales, then lodge their planning application. This means that the design, configuration and other aspects of the building may vary from what you purchased. The planning approval process is unpredictable and can be lengthy. VCAT hearings and objections may delay the start of construction and, in some cases, the development may not be approved.
Stephen Speer is head of marketing and business development at <a href="https://www.hengyi.com.au/" target="_blank">Hengyi Australia</a>, (currently launching the <a href="https://www.lighthousemelbourne.com.au/" target="_blank">Light House</a>).
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Due diligence upfront will save expense in the long-term

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Economic wellbeing declined during the second quarter of 2014, with preservation of lifestyle becoming the chief concern of 47% of those surveyed, according to ING DIRECT’s Household Financial Wellbeing Index.
The five top concerns
<ol>
<li>Maintaining current lifestyle (47%, but increased to 56% for baby boomers)</li>
<li>Managing new costs from Federal Budget (45%)</li>
<li>Meeting large on-off costs, e.g. home renovations or car maintenance (31%)</li>
<li>Job stability (25%, but up to 40% of Gen Y households)</li>
<li>Increasing debt (18%, but totalling 25% of Gen Y households)</li>
</ol>
Source: ING DIRECT
This has led to the financial ambitions of Australians surveyed being larger about reducing spending and holding onto funds. A total of 44% wanted to save more, with 63% of Gen Y putting this as their priority.
Reducing the cost of living (41% overall, 50% of baby boomers), cutting back on discretionary spending (32%), getting a better paying job (18% overall, 30% of Gen Y) and earning more by working longer hours (10% overall, 20% of Gen Y) were the top finance ambitions.
The trend towards maintaining, rather than improving, lifestyle came as a worry to ING DIRECT executive director of customer John Arnott, who noted that costs are rising faster than incomes.
“On the plus side, households are taking responsible steps to preserve and even improve their financial wellbeing, with many looking at ways to actively cut costs rather than relying on increased debt, which can lead to greater financial pain further down the track,” said Arnott.
The Household Financial Wellbeing Index measures sentiment across debt, income, investments, savings and ability to meet household bills.
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Australians' top five financial concerns: ING

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The National Australian Bank has reported its third quarter results, posting a $1.7 billion net profit.
Its cash profit rose 7% to $1.6 billion, while revenue fell 1% due to lower markets income amid volatility.
Business lending balances grew at an annualised rate of 5.5% over the quarter.
“The group achieved a satisfactory third quarter result,” said NAB chief executive Andrew Thorburn.
“Costs were well contained and asset quality continues to improve. While revenue growth remains challenging, Australian home lending continues to achieve market share gains and Australian business loan growth improved in what is traditionally a stronger quarter,” he said.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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NAB reports $1.7 billion third quarter net profit

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The $30 million Mowbray East Brisbane mixed-use development from QM Properties has sold out all 56 one and two bedroom apartments.
The development is currently six months ahead of building completion, on the corner of Lytton Road and Manilla Street.
The ground floor commercial space is understood to be seeing strong interest.
QM Properties’ development manager Glenn Rix said that they have now acquired a site just 50 metres from this development, at 54-58 Manilla Street, spanning 1,214 square metres.
“Recent research reports confirm sales activity is strong and the sell-out of Mowbray and this recent acquisition reaffirms our belief that East Brisbane has all the qualities purchasers are looking for,” said Rix. 
“We attribute Mowbray’s success to its quality architectural design and a starting price of $339,000, combined with proximity to the CBD, multiple public transport options and lifestyle amenity.”
He said that the shifting demographic, with an increasing numbers of Gen Y buyers and middle-aged downsizers, are lifting the appeal of this area and other city fringe locations.
“The new mixed-use development will be similarly placed, providing an ideal market entry to the 4169 postcode and tapping into buyer desire for well-designed one and two bedroom apartments near employment and education hubs,” said Rix.
“We are currently finalising our plans for DA submission and hope to launch the project in early 2015, for completion by 2016.”
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The $30 million Mowbray, East Brisbane mixed-use project sells out

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Conditions in the established housing market remain strong, according to latest meeting minutes from the RBA.
"While house price inflation across the country in 2014 had not been as rapid as over the second half of 2013, it had remained robust," <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/monetary-policy/rba-board-minutes/2014/05082014" target="_blank">the August minutes noted</a>.
"Auction clearance rates in Sydney had eased from their high levels in late 2013, although they had increased in Melbourne more recently."
Members also observed that residential dwelling approvals had declined somewhat in recent months, but remained at a high level and, in combination with the substantial amount of residential work yet to be done, suggested that dwelling investment was likely to remain strong in the period ahead.
"Staff forecasts suggested that inflation, despite recent higher readings, was likely to be consistent with the 2–3% target over the next two years.
"Members noted that there was inevitably a significant degree of uncertainty about the outlook, given the number of forces working in different directions.
"The Board judged that monetary policy was appropriately configured and that, on present indications, the most prudent course was likely to be a period of stability in interest rates."
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