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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 extraordinary to think there are still advisors out there telling consumers that strong capital growth and high rental yields are mutually exclusive concepts. Even more extraordinary, people pay fees for this “advice”.
A recent article in The Australian allowed a property ‘advisor’ to pontificate at length about investors buying the “wrong” assets because they offered high rental yields.
The subtext was that high- yielding properties were inferior because if they had a high rental returns they couldn’t possibly provide good capital growth and that quality assets, by definition, provided low income returns. And that quality meant expensive.
This ‘advisor’ said that sensible investors would buy expensive properties that are heavily into negative cashflow territory, requiring the investor to put in $400 to $500 a month to cover the shortfall between income and cost.
“A good property invariably has a low rental yield,” said the ‘advisor’.
This definitely gets my vote for worst advice of the year so far. Where do they get their information? Do they do any research at all, or do they simply indulge their propensity for real estate snobbery? God help anyone silly enough to listen to them.
Exiting pixieland and entering the real world, those who know what to buy and where to buy it can readily achieve strong capital growth on property that pays its own way.
Real estate investors can have their cake and eat it too. This is why the nagging debate about the rights and wrongs of negative gearing always leaves me shaking my head. Negative gearing shouldn’t be an issue because switched-on investors don’t buy loss-making assets.
They buy properties that are cashflow positive, or at least cashflow neutral, in locations with the growth drivers to provide good capital growth. Australia abounds with such opportunities.
It’s achievable in capital cities and it’s achievable in substantial regional centres with well-rounded economies and low-risk property markets.
Every year the Hotspotting team conducts suburb by suburb research for all locations across Australia to discover which locations provide the best long-term growth. We’ve been doing this for the past five years. We construct tables for the top 20 and the bottom 20 in each city.
On most occasions – not  all, but most – the results show that the cheaper areas of our capital cities provide the best long-term growth rates. That’s a very general statement and behind it there are all kinds of different situations. Real estate is full of aberrations.
But it’s rare for the so-called prime suburbs to deliver the best capital growth rates. In most instances, you are more likely to find the most expensive suburbs on the bottom 20 list than the top 20 list.
I’ve often read commentators claiming that the best – indeed, the only – place to invest in Australia is prime Sydney. Our research shows that the opposite is true. Sydney is the under-achiever of big city Australia. Despite the high price growth of the past 12-18 months, Sydney still has the worst capital growth rates in capital city Australia, except for struggling Canberra.
Sydney’s best suburbs for capital growth would make the bottom 20 lists in many other cities.
By far the best growth rates (the average annual rise over the past 10 years) have been achieved by Darwin and Perth. Darwin also has the highest rents among the capital cities – which means Darwin has delivered the best capital growth and the best rental returns among the capital cities. This contradicts the notion that you have to accept a low rental return to achieve good capital growth.
The cheaper areas of our capital cities also able to provide opportunities to buy properties with initial rental yields above 6%. The best of our regional cities can deliver 7% plus rental returns as well as strong capital growth prospects.
Cairns is a great example of this. You can find yields in the 7% to 8% range in a city that’s on a serious growth path.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

High yields or capital growth? Investors can have their cake and eat it too

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With some 704,000 bonds amounting to $1.043 billion in its care, the NSW Rental Bond Board’s annual report shows some interesting trends that investors I think will find interesting.
Let's look at some of the facts from the 2012-13 annual report.
The raw numbers firstly show that bonds held increased by 3.4% over the number held at 30 June 2012, new bonds increased by 2.8% but the number of refunds was far less at only 0.8%. This shows how tight the rental market was in NSW; the average bond paid was $1,483. Investors in residential property might also be interested to know that February appears to be the month when most tenancies change over after a slump in demand in January. As might be expected most tenants move out of their accommodation in December and February.
It also appears that the majority of investors use a managing agent, as real estate agents lodged 89% of bonds.
The Board’s annual report also gives a very clear picture about the relative size and growth in demand as new bonds paid are examined by postcode groupings. Across metropolitan Sydney the biggest rental markets are the Eastern Suburbs with 50,513 bonds, followed by Western Sydney (41,432) and St George (36,071). However the Board’s figures show that the three areas with the biggest increases in bonds, and hence tenancies (available supply) where: South Sydney 8.7%, Western Sydney 6.6% and Parramatta Hills 5.0%. The areas with the highest median rentals were Inner Sydney and South Sydney with growth rates of 5.4%.
An interesting observation from these figures is what appears to be an even spread of growth south, east, west and south, although in combination the west is dominate with 119,252 tenancies.
Outside of the metro area the three biggest rental markets, as measured by the number of bonds paid were: the North Coast 55,401, Greater Newcastle 35,949 and Penrith/Windsor 32,009. It was somewhat surprising to see the Central Coast in fourth spot with 29,255 tenancies. The areas with the biggest increase in supply were: Penrith/Windsor with 5.9%, Dubbo &amp; North West 5.2% and Campbelltown 5.1%.
Between 2011/12 and 2012/13 the population growth for NSW was approximately between 1.2 and 1.4%, but over the same period the Board’s figures indicate that tenancies grew at a much bigger rate of 2.7 and 3.3%. While by no means conclusive, this contrast does clearly show that many people have relied upon rental accommodation and would indicate continued demand into the immediate future.
This is a very noteworthy annual report, it points to strong demand for rental accommodation, a trend towards longer lease terms, a well-managed private rental market with quality and stable tenancies. All of which are factors that given the extent of the Board’s activities underline the appeal of residential property investments.
The Board invests tenant bonds and the income is used to fund a number of programs including Tenant’s Advice and Advocacy ($4.63 million, this is a program jointly funded by the Board and Fair Trading), Credit Counselling, No Interest Loans Schemes and Aged-care Rights Services – many of these programs are of wider community benefit, but they along with the functions of the Board itself, helps to create a stable and transparent rental market. I think this is a positive and important function for investors, as it helps create very stable administration within a large rental market of some 704,000 individual tenancies.
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pchittenden-eLqUUC8TWW

Sydney rental market continues to tighten with trend towards longer leases

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GUEST OBSERVATION
All lenders require building insurance before a loan settles, but what about the very thing that is going to repay the loan? You!
Whilst we don't necessarily want banks enforcing borrowers to take up their insurance, as an investor or anyone that is taking on any type of debt it’s vital that you review your personal insurances (life, trauma and disability) as well as income protection.  
The funny thing is people will insure their cars, boats and even pets without hesitation, but when it comes down to the bigger assets like their lives and their property portfolios, their coverage too often falls well short.  As a mortgage broker, this is unnerving when I consider that more than one in five Australian families will be impacted by an tragic event in their working lives, and 95% of those families will be underinsured.
I don't speak to my clients about the specifics of insurance, but I do refer them on to my top insurance advisor for health checks.  It’s scary how uninsured people are when it comes to their financial wellbeing.  In fact, in any unfortunate situation that one person that is inflicted with either a temporary or permanent disability or serious illness or worst-case death; the typical family income will drop by more than half. Can you imagine how a family or a person can survive after the living expenses like food, utilities, childcare and mortgage repayments come out. Let alone further costs through medical expenses.
<blockquote>
People will insure their cars, boats and even pets without hesitation, but when it comes down to the bigger assets like their lives and their property portfolios, their coverage too often falls well short.
</blockquote>
It’s easy to panic when you hear all the frightening statistics and react by calling up the first company that comes up under ‘risk insurance’ in your search, but beware of the offers like those on the television promising cheap cover with one quick call.  Risk insurance can be really quite complex to get right.  The best way to this is to speak to a top financial planner to get you the best value for your money and be adequately covered.
As part of the finance process, now mortgage brokers need to check that you are aware of insurance and if you think you are adequately covered. Most people assume they have enough cover in the superannuation but often don't know what it exactly is when asked.  It is common to think, as I used to think it myself, that when someone offered to review my insurances I was getting sold something I probably didn’t need.  Though times have changed, and as an investor today your debt levels are at higher levels, you need to take this into consideration.
I have been fortunate enough to not have a client be in the position to claim under their insurance and I hope that this is the case for all my future clients.  However, I have had people that I know personally that have been caught out by devastating events; if they were insured, their lives would be very different now.  A family friend had a stroke at, aged only 38; he has a lovely wife and three children. He ran his own business, and their whole lives changed as he was the sole income earner with no back up plan, or adequate insurances in place.  The pressure to return to work was massive, and still after five years he is still struggling with his health.  It is heartbreaking.
Imagine for a moment this was you.  As we forge ahead building up our investment portfolios, I feel we can sometimes take even our most basic provisions for granted.  Though imagine a life where not only paying essential household expenses presented a challenge, but dreams of education or holidays needed to be shelved indefinitely.
Even if you think you are covered it never hurts to get a second opinion, especially when it comes to the most important asset - your life.  A financial planner will give you a complimentary review for insurances and not charge any fees and a good time to check is always when you are applying for finance.
Life is important, not just yours, but your family’s as well.  If you’re not absolutely sure you are adequately covered, it might be time to get that health check.
Michelle Coleman is an award winning finance broker and managing director at <a href="https://www.wfinancial.com.au/" target="_blank">W Financial</a>.
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mcoleman-u4QTxPRvfF

Why do people not insure their lives and portfolio like they would their cars?

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A preliminary weighted average clearance rate of 68.4% was recorded this week across capital cities compared to 68% last week and 70.4% this time last year.
The health of the national auction market this year is highlighted by the fact that since the start of the year, not including this week, there had been 42% more homes sold under the hammer compared to this time last year. In raw numbers this is 36,608 homes sold at auction compared to 25,623 last year.
<img class="aligncenter size-large wp-image-3608" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Capital-city-580x426.jpg" alt="RP Data nation auction review | Capital city" width="580" height="426">
A significant contributor to the improved national result is Sydney and this continued this week. In Sydney a preliminary clearance rate of 76.7% was recorded this week compared to 74.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Sydney.jpg" rel="wp-prettyPhoto[g3607]"><img class="aligncenter size-large wp-image-3609" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Sydney-580x383.jpg" alt="RP Data nation auction review | Sydney" width="580" height="383"></a>
Melbourne returned a result on trend this week with a preliminary clearance rate of 67.7% recorded compared to 69.6% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Melbourne.jpg" rel="wp-prettyPhoto[g3607]"><img class="aligncenter size-large wp-image-3610" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Melbourne-580x380.jpg" alt="RP Data nation auction review | Melbourne" width="580" height="380"></a>
In Brisbane a preliminary clearance rate of 50% was recorded compared to 33.3% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Brisbane.jpg" rel="wp-prettyPhoto[g3607]"><img class="aligncenter size-large wp-image-3611" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Brisbane-580x383.jpg" alt="RP Data nation auction review | Brisbane" width="580" height="383"></a>
Adelaide recorded a clearance rate of 69.2% compared to 69.1% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Adelaide.jpg" rel="wp-prettyPhoto[g3607]"><img class="aligncenter size-large wp-image-3612" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140818-Adelaide-580x388.jpg" alt="RP Data nation auction review | Adelaide" width="580" height="388"></a>
In Canberra a clearance rate of 55.2% was recorded and in Perth there was a clearance rate of 27.3%.
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rlarocca-zWhvjay44N

National clearance rate stable: RP Data's national weekend auction wrap

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Project manager Michelle Hosking last week pleaded guilty to 12 charges relating to two renovations in Croydon North that resulted in a cost blow out of more than $120,000.
Hosking was fined $15,000 in Ringwood Magistrates’ Court after managing the renovations without the required contracts, insurance, registration or permits, according to the Herald Sun. She was also ordered to pay costs.
The Victorian Building Authority’s Cheryl Lewis said that Hosking had drafted three page contracts that failed to meet requirements. She had previously only undertaken commercial office fit outs.
The Herald Sun <a href="https://www.heraldsun.com.au/leader/east/woman-behind-cost-blowout-of-120000-on-croydon-north-renovation-convicted-and-fined/story-fngnvlxu-1227025947257" target="_blank">reports</a> that Lewis told the court the home owners paid $124,000 more than the contract price for the renovations and that cost blow outs had occurred.
It was also reported that Hosking took deposits above the maximum allowed 5%.
The work on both houses was completed.
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jduke-EHk3XBmHkn

Project manager fined after $120,000 renovation cost blow out

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The University of Melbourne has the largest number of international students studying on campus, according to latest figures released by <a href="https://aei.gov.au/research/Research-Snapshots/Documents/International%20students%20in%20Australian%20unis%202013.pdf" target="_blank">Australian Education International</a> (AEI).
The total international student enrolments in Australia in the higher education sector dropped by 0.8% in 2013 to 216,298, or 18.8% of the total student population.
The AEI research figures revealed the University of Melbourne had 14,165 onshore international students in 2013, accounting for 27.1%.
The University of New South Wales ranked second with 13,123 onshore international students.
Next followed by Monash University with 12,271 onshore international students.
There were 410,925 international students from 193 countries studying on a student visa in Australia in 2013. 
<img src="/images/2014/08/18/students-aug-18-one.jpg" alt="">
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jchancellor-FAypfDUnLy

International students head to University of Melbourne and UNSW

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First it was the fashion giants Topshop, H&amp;M and Uniqlo. Now it seems Australia is becoming a hot spot for global sports retailers.
Following the news of UK-based Sports Direct’s <a href="https://www.smartcompany.com.au/growth/42841-ozsale-partnership-brings-sports-direct-down-under-four-things-you-didn-t-know" target="_blank">deal with local online shopping club Ozsale.com.au</a>, Switzerland-based Intersport will this week officially launch in Australia.
The global retailer, which has around 5,700 stores across 66 countries including popular footwear chain The Athlete’s Foot in the US, has chosen to enter the market through an existing retailer, with close to 40 stores under the Independent Sports banner to rebrand to Intersport over coming months under a license agreement.
Kevin O’Hanlon, previously chief executive of the Independent Sports group and now chief executive of Intersport Australia, said 32 stores have already been rebranded under the Intersport name, with another five stores to be completed by the first week of September.
The group of 37 stores turns over approximately $130 million each year.
There are another 22 stores in the Independent Spots group and O’Hanlon hopes those stores will convert to Intersport over coming months.
But the transition of the stores is just the first step in Intersport’s plans in Australia, with O’Hanlon saying the group hopes to have 50 stores operating within three years, growing to 100 stores in five years.
O’Hanlon says the Independent Sports group is now the franchisor for Intersport in Australia and he has already received a number of enquiries from other independent sports retailers about joining the group.
Intersport sells sportswear and equipment, including big name brands such as Nike and Adidas, as well as McKinley, Firefly and Energetics.
The private company is owned by 13 master franchisors in Europe and Canada and, according to Fairfax, recorded annual revenue of €10.3 billion ($A14.8 billion) in 2013.
O’Hanlon says brand recognition is “clearly the number one benefit” for the independent stores joining the Intersport group, as well as access to the Intersport global trading terms and its exclusive private label brands.
“It’s well known the sporting goods industry is being challenged and it will continue to be challenged,” he says.
“So trading under a common, global brand gives great solace to these mum-and-dad businesses.”
“It’s also been shown that consumers have a desire to buy from global brands.”
O’Hanlon says sport “is an essential pillar of Australian society”, and that’s attractive to global brands such as Intersport.
“We know that, we live that, we love that as Australians,” he says.
“We intend to offer that passion, the best advice, the best product selection in the world from the best brands, and deliver that on a local level.”
Brian Walker, chief executive of the Retail Doctor Group, said other sports retailers will be watching Intersport’s moves “with keen interest”.
“In terms of sports retailing in our country, the independent specialty, small retailer has really gone, and now it’s the days of the Rebel Sports and Amart,” says Walker.
“It’s good for consumers. It’s a global brand and it will introduce a more competitive flavour to the domestic market.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Global sports retailer Intersport readies for Australian launch

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Auction numbers have surged off the back of a strong market since the start of 2014, with 42% more homes sold under the hammer compared to this time last year, according to RP Data.
Not including this week, there have been 36,608 homes sold at auction across Australia, compared to 25,623 last year.
But demand is still meeting supply, as the national clearance rate lifts back up to 68.4% off 1544 auctions, despite a slight dip <a href="https://www.smartcompany.com.au/finance/investment/43209-a-tale-of-two-auction-cities-melbourne-misses-the-mark-as-sydney-soars-into-spring" target="_blank">last week</a>.
RP Data Victorian housing market specialist Robert Larocca told SmartCompany increased auction volumes were partly due to a general market improvement, but primarily due to a swell in the number of auctions throughout Sydney.
Australia’s biggest city scored a strong 76.7% clearance rate off 562 auctions at the weekend.
Larocca says a number of local home owners who traditionally would have shied away from selling their properties under the hammer, now have the confidence to go to auction.
“It looks like, for the first time, there’s a shift towards the auction sales method,” says Larocca.
“There have always been auctions in Sydney, but they have mostly played second rung to Melbourne.
Larocca says nationally, however, over the last 12 months there has been a higher proportion of residential sales via auctions.
“Auctions work well with a competitive market place,” he says.
“Given the clearance rates, it’s clear that decision by agents and vendors to go to auction is paying off.”
Larocca says there has been a 30% increase in the number of properties sold at auction in Melbourne compared to the same time last year, echoing the strong market.
This week, Melbourne had a clearance of 67.7% as 719 properties faced the auction block.
Brisbane had a better week, with 50% clearance on 98 homes, while Adelaide was solid at 69.2% off 71 properties.
We can expect a gradual building of stock numbers as we head into spring, according to Larocca.
Melbourne, the country’s largest auction market, is expecting to hit auction numbers at around 800-900 in the coming weeks, while Sydney is expected to sit just slightly below those figures.
Larocca say clearance rates indicate a positive outlook for vendors, with plenty of buyers still in the market.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Auction numbers swells as spring approaches

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Prospective buyers visiting auctions or looking at the market may have heard the term “passed in” before.

The quick summary is that this means that the reserve price has not been met and therefore the property has not managed to sell at the auction.

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This does not necessarily mean that the property doesn’t sell on the day – often, the highest bidder will be taken inside for further negotiations and the property may sell straight afterwards.

Century 21 notes that it can be frustrating for the vendor to have a property passed in at auction and it can be emotionally charged. They note that it is always a potential outcome and to ensure you have chosen an agent who will be able to best negotiate on your behalf if you are unsuccessful with selling during the auction.

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“Many prospective buyers will even increase their offering from what was bid at auction in order to secure the property, sometimes reaching the reserve price,” they advise.

In some states, the highest bidder has that first right of negotiation.

If the property passes in on a ‘vendor bid’ this means that the vendor has used their hand and no other bid was made past theirs.

If you don’t know what a vendor bid is, you <a href="/expert-insights/buying/what-is-a-vendor-bid-property-investment-terms-explained">can read our explanation here</a>.

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If you’re the highest bidder and it is passed in, there are some things you can do to ensure it swings in your favour.

Firstly, understand that it doesn’t mean the property is a dud because it has passed in. The auction could have been lacklustre, and there could be any number of things causing people to keep their hands in their pockets on that day. 

You can read <a href="/expert-insights/buying/what-to-do-if-you-are-the-highest-bidder-for-a-property-that-is-passed-in">this guide from buyer’s agent Warwick Brookes</a> on what you’re supposed to do if you are the person with the first right to negotiation.

“Don’t be frightened to say things like, 'This is already at the upper end of what I think the property is worth' even if that is not the case. If there are no other buyers in sight and everybody has left except yourself, then minimise the amount you are willing to counter-offer,” Brookes advises.

And if you don’t have first right? It may end up on the market again. It’s also worth giving the agent a call and saying you’re still interested, or waiting around to see how the first prospective buyer responds.
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What does “passed in” mean? Investment terms explained

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Stockland Group has reported an underlying profit full year of $555 million, a 12% increase a year ago, with its residential business the standout.
The managing director Mark Steinert, said its core businesses performed solidly with year on year profit growth in retail, residential, logistics and business parks, and retirement living.
“Our new residential projects at Calleya in Perth, <a href="https://www.stockland.com.au/residential/nsw/willowdale-living-at-willowdale.aspx" target="_blank">Willowdale</a> in Sydney’s south-west, and Elara in Sydney’s north west, have all seen strong customer demand.” 
Stockland’s residential business grew strongly with operating profit up 57% on the prior year. The company achieved 5,219 lot settlements for the year and started FY15 with a record 3,185 contracts on hand. 
Stockland’s head of residential, Andrew Whitson said all states were experiencing generally positive housing market conditions.
“Demand in Sydney remains very strong with relatively low supply impacting affordability in the established housing market.
"In Victoria, the market is steady with good demand balanced by higher competition. 
"The outlook in Queensland is particularly strong, underpinned by positive economic indicators and a slower start to the housing market recovery,” Mr Whitson said.
Stockland agreed last Friday <a href="/expert-insights/investing/stockland-accepts-frasers-australand-offer">to sell its 19.9% stake in Australand Property Group</a> to property group Frasers Centrepoint, booking an $80 million profit.
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