<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Joel Robinson

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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;

[smartcode_project:default project_id=111820 project_image_fid=344699]

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.

[smartcode_project:default project_id=136442 project_image_fid=374084]

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.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

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>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>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>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>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>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>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>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>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>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>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

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

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?

<html><body>
Have a look at a home loan comparison website and you’ll see a growing number of variable rate mortgages are now below 5%.
With mortgages this affordable you could refinance out of an old expensive loan and into a low cost one; and it’s also a good opportunity to repay more than you have to – to build up equity more quickly.
But a lot of people are asking if the low rates mean it’s time to buy an investment property?
Firstly, I suggest potential investors separate their thinking between the mortgage interest rates and the investment itself. Long after variable rates have returned to normal levels, you’ll probably still own this investment and it should make financial sense.
The point of an investment property is to harvest the ‘total gross yield’ – that is, you want the property to produce rental income and capital growth. You want enough rental income to help pay the mortgage and meet costs month-to-month, and you want sufficient capital growth so that over time it becomes a more valuable asset.
If you can achieve a 5% per annum rental yield and the average growth in the suburb is 3% per annum, you have an 8% gross yield. But there are many things that can vary this result.
Does the property need renovations? Is it maintenance-intensive? Will you use a property manager? Is it close to amenities such as schools, shops and train stations and likely to be sough-after by tenants? All of these things will affect your yield over the long term, and property is a long-term game.
There’s really no substitute for homework – you must have a clear view about ownership costs.
You also have to think about negative gearing, which is a tax rule that allows you to take any losses on the property and use them to reduce your taxable income, thereby reducing your taxes.
This brings us to the cost of your mortgage. Many people want to buy an investment property simply because they can, but the cost of entry isn’t the end of the discussion.
The investment mortgage has to be repaid from income, while most people are also funding the family home loan from the same income. Even if negative gearing gives you a small tax break, you have to calculate if you could afford to pay the investment property mortgage if the rates moved upwards by, say, 2%, or 3%.
Fixed rate mortgages only give you breathing room for the term of the fixed rate – they don’t make rising interest rates go away.
Low interest rates make it affordable to buy, but you have to know what it costs to own it, which means understanding where interest rate rises will leave you.
And, a final hint: the best property investments are made at purchase. Try to buy a property at a good price, with low maintenance, in a high-demand area, where prices are just starting to pick up. Be patient and do your homework.
If you buy well, you’ll do well.
Mark Bouris is executive chairman of wealth management company <a href="https://www.ybr.com.au" target="_blank">Yellow Brick Road</a>.
</body></html>

mbouris-tauSvXGAM2

Interest rates are low, but does this mean you should buy an investment property?

<html><body>
A preliminary weighted average clearance rate of 69.7% was recorded this week across capital cities compared to 67.9% last week and 69.3% this time last year.
<img class="aligncenter size-large wp-image-3562" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Capital-city-580x429.jpg" alt="RP Data auction comment - capital cities" width="580" height="429">
Both Sydney and Melbourne, which account for the majority of the auction market in Australia, had strong results with clearance rates above trend.
This week a preliminary clearance rate of 77.6% was recorded in Sydney compared to 75.4% last week. Prior to this weekend the year to date clearance rate was a healthy 74.4%.
<img class="aligncenter size-large wp-image-3563" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Sydney-580x384.jpg" alt="RP Data auction comment - Sydney" width="580" height="384">
In Melbourne a result above trend for the year was reached with a preliminary clearance rate of 70.9% recorded compared to 68.5% last week. Not including this weekends results the clearance rate for the first eight months of the year was 67.3%.
<img class="aligncenter size-large wp-image-3565" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Melbourne-580x380.jpg" alt="RP Data auction comment - Melbourne" width="580" height="380">
In Brisbane a preliminary clearance rate of 32.3% was recorded compared to 44.7% last week. 
Adelaide recorded a clearance rate of 60.3% compared to 60.3% last week.
In Canberra a clearance rate of 59.1% was recorded and in Perth there was a clearance rate of 46.2%.
<img class="aligncenter size-large wp-image-3566" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Brisbane-580x380.jpg" alt="RP Data auction comment - Brisbane" width="580" height="380"> <img class="aligncenter size-large wp-image-3567" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Adelaide-580x384.jpg" alt="RP Data auction comment - Adelaide" width="580" height="384">
</body></html>

rlarocca-zWhvjay44N

National clearance rate lifts: RP Data's national auction wrap

<html><body>
While those keen on property are no doubt familiar with auctions, that is public auctions, properties offered "by tender" (increasingly used as interchangeable with the term silent auction) are a different kettle of fish.
Selling a property “by tender” looks to get buyers making closed bids without the knowledge of what other buyers may be offering, hence the 'silent auction' terminology.
In essence, the agent is looking to get each buyers’ best hand on the table first off the bat.
What is it?
Buyers are often provided a tender registration form that registers their interest, or asked to submit a bid straight away. “Bids” are told to be made by a specified time and date, and are made in writing in formal offers.
At this point, the seller looks at the bids. They then may take them back to the bidders and invite them to either confirm their bid or increase their offer, and the seller is at no obligation to sell.
Bell Real Estate says that it benefits the vendor for the following reasons:
<ol>
<li>Significantly raises the profile of your home through a carefully targeted, intensive advertising campaign. 
</li>
<li>Places a time limit on buyers, encouraging them to make their highest offer. 
</li>
<li>Creates a similar amount of competition for the property, yet removes the perceived stress that is often associated with auctions. 
</li>
<li>Provides a more appealing alternative to buyers, as they don't feel they have to compete in public at an auction.</li>
</ol>
Often, prospective buyers are called before a planned public auction and told that the vendor may be willing to sell prior to the day to the best offer. This is another form of silent auction.
However, some have argued that it puts buyers on the back foot. Encouraged to put their best bid in first, it stops them from knowing what others are willing to pay – which is, of course, more obvious at a public auction where you bid until someone stops. It may also mean that a buyer who is wary about putting in their highest offer first does not do so – and then misses out if the vendor decides they are happy with a bid put in within the first round.
Unlike an auction, however, buyers can put conditions around their offer and there may be a cooling off period attached – you can, therefore, negotiate with your conditions. You will need your legal representative to write up your offer and there may be a required deposit.
Sellers are unable to accept other offers prior to the specified deadline.
RealestateVIEW explains that this sale process is actually very formal and complex – so often reserved for premium properties in the residential sector.
For instance, this<a href="https://www.realestate.com.au/property-house-qld-greenbank-115410139%20" target="_blank"> Greenbank, Queensland offering</a> is currently asking for ‘offers’ or ‘tenders’ by 5pm on 29 August.
It is a relatively infrequently used sales technique for general real estate, though is not uncommon, and even this listing comes with an explanation of the process for buyers who are not up to speed with the process.
</body></html>

jduke-EHk3XBmHkn

What is 'by tender’ (silent auctions)? Investment terms explained

<html><body>
<div>
The University of Western Sydney is to lease the new tower One Parramatta Square, aka 1PSQ.
The proposed new campus will have over 10,000 students.
The highrise campus will include 26,000 square metre space over 14 levels with UWS vice-chancellor Professor Barney Glover saying it chose the development due to the building’s design, flexibility and prominence.
</div>
The tower will sit within the envisaged $2 billion urban renewal project, Parramatta Square, a six-stage, three hectare masterplan development by Parramatta City Council.
<a href="https://www.uws.edu.au/newscentre/news_centre/more_news_stories/new_uws_campus_to_drive_parramatta_square_vision" target="_blank">The $200 million A-Grade tower</a> is being developed by Leighton Properties which purchased the 4,132 square metre site at 169 Macquarie Street, after being announced as the preferred buyer by the Parramatta City Council last year.
"This project forms a vital part of the University's strategy to significantly expand its international student population, and will be a focal point for our postgraduate programs. The prime CBD location will embed UWS in the social, economic and civic life of Parramatta and Greater Western Sydney," Professor Glover said.
Students will benefit from existing public transport links plus the planned Western Sydney Light Rail Network, although construction work beginning in early 2015 and completed for the first university semester in 2017, will beat any light rail.
Last week Raffles Assets Australia, a subsidiary of Singapore’s Raffles Education ­Corporation, bought in Parramatta.
<a href="/expert-insights/investing/raffles-education-buys-enterprise-house-parramatta">Their $29 million purchase</a> which will assist the renaissance of the precinct, is a six-storey office building at 1-3 Fitzwilliam Street.
</body></html>

jchancellor-FAypfDUnLy

UWS takes 1PSQ as Parramatta becomes an education hub

<html><body>
Last night marked the first set of room reveals for The Block Glasshouse.
Each of the five teams - Darren and Dee, Maxine and Karstan, Michael and Carlene, Simon and Shannon and Chris and Jenna - unveiled their guest bedrooms to the judges and Australia. While it's no secret that all five of the teams were under an extraordinary amount of pressure, some coped better than others.
Tasmanian brothers Shannon and Simon scored the highest marks for the week, with the judges commenting that their guest bedroom with four and a half metres of storage space tucked behind a timber nib wall displayed strong attention to detail and was fresh and stylish. They were rewarded with $10,000 for their efforts.
But a few of the other teams didn't fare so well. The judges pointed out some dodgy plastering in Chris and Jenna's room, while Darren and Dee were pulled up for leaving their painting unfinished. Maxine and Karstan, however, had the roughest time this week - after all the teams suffered setbacks with asbestos removals and delays putting up steel framing, their blinds came late and their cabinet maker failed to show up, leaving the couple with an unfinished room (and a handy note on the wall explaining their troubles to the judges).
The missing cabinet makes Max and Karstan the only team to have ever failed to complete a room in the history of The Block, and earned them marks as low as 5/10.
Although cabinet maker was due to arrive at 5 am on the morning of judging, he failed to turn up at all, and was uncontactable. Unfortunately, the problem is not as uncommon as it should be.
While the majority of tradespeople and subcontractors are honest, hardworking and helpful, ask around and it won't be long til you uncover a treasure trove of tradies-gone-bad stories. The carpenter who kept revealing hidden cost after hidden cost, the painter whose work peeled off the month after and, of course, the cabinet maker who never turned up. It's a problem that can cost you time and money ($10,000, if you're Max  or Karstan).
So if you happen to be unlucky enough to run into one of the few bad apples when you're renovating, what can you do?
First, you can do your best to ensure the problem doesn't arrive in the first place. Regular observer Jo Chivers considers <a href="/expert-insights/the-most-common-first-time-property-developer-mistakes-team-selection">team selection</a> one of the most vital factors in the success or failure of a development or renovation project. Here are some tips on choosing your reno team:
<ol>
<li>Ask about their past completed projects. You could also ask for referrals from previous clients.</li>
<li>Ask about their financial position. If you're hiring a builder, don't be shy about asking if they can afford to take on the project. The last thing you want is for your builder or contractor to liquidate, leaving you in the lurch. They may not like the questions, and don't have to answer them, but it can help you get an idea of how reliable they are.</li>
<li>Ask other tradies and builders. If your builder recommends using a certain tradesperson, ask other tradies on their team how they work. If you're hiring a builder, Chivers recommends asking for a list of their current contractors or tradies. Chivers advises that you ask them what the builder is like to work for, whether they pay on time and whether the tradesperson is intending to continue working for that builder. She writes: "If a tradie has been crossed, he will tell you all about it!"</li>
<li>Check your department of fair trading or consumer affairs website. If a tradie or builder has been in trouble in the past, you may be able to find out about it before you hire them.</li>
</ol>
Your builder should also be licensed or registered - if they're not willing to show you their license, go with another builder.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
When it comes to working with your chosen builder or tradesperson, open and honest communication is key.
Be clear about your expectations and your timeline from early on, so there's no confusion and can be no excuses if the job fails to get done. Get everything in writing whenever possible - dates, costs, materials and promises - in case you need to refer back to an earlier conversation.
If your builder goes into liquidation and can't complete a job, you may be covered by insurance. All licensed builders require some form of insurance, usually called Home Warranty Insurance or Builders Warranty Insurance, and their obligations will vary from state to state - in Victoria, Domestic Builder's Insurance is required when the works cost over $16,000.
Your building contract should include the details of your warranty rights. In New South Wales, <a href="/expert-insights/buying/what-to-do-when-your-nsw-builder-goes-into-liquidation">Home Warranty Insurance</a> will provide you some cover if your builder dies, disappears or becomes insolvent. Unfortunately, the process is usually a lengthy one, and may not cover the costs of your project.
Court is the worst case scenario. But if your tradesperson has failed to do a job properly, or at all, you might have to resort to legal action. It's a road that few want to go down - tribunal or court proceedings are costly, lengthy and stressful. As Victorian Civil Administrative Tribunal (VCAT) deputy president Heather Lambrick says, "Every case that comes to VCAT has a losing party". 
If you do have to go to tribunal, know what you want to achieve when you're going there. Do you want to recover the costs of contracting a tradesperson? Have them come back and fix their dodgy job? Or are you just blowing of steam?
Here are some of Lambrick's tips for winning your case at tribunal (for more information, see <a href="/expert-insights/how-to-win-your-case-at-tribunal-vcat-deputy-president">How to win your case at tribunal</a>).
<ul>
<li>Know the relevant law. You don't need to be an expert, but you do need to know the relevant piece of information that covers your dispute.</li>
<li>Isolate the issues. Figure out where exactly things went wrong - perhaps your tradie not show up at the agreed time, or did not use the agreed materials.</li>
<li>Get the documents to prove your issues. Have as much evidence as you can on hand - photographs, those conversations you've been documenting, and the relevant contracts.</li>
<li>Anticipate the other side of the argument. Organise yourself and have a good idea of what the other side will argue. Prepare a counter argument before you get to tribunal.</li>
<li>Ask for help if you need it. You don't necessarily need a lawyer, and you're not expected to be an expert. Feel free to ask when you need clarity.</li>
<li>Watch other cases. Try sitting in on a couple of tribunal cases so you have an idea of how the proceedings work.</li>
<li>Stay calm and be polite.</li>
</ul>
But no matter how calm or polite you are, going to tribunal won't guarantee you'll get the outcome you want, or deserve. The best way to avoid Maxine and Karstan's situation is to choose wisely in the first place.
Picture courtesy of Channel 9/Facebook.
</body></html>

jrichardson-uRX5hFdKfN

Lessons from The Block: What to do if your tradie disappoints

<html><body>
GUEST OBSERVATION
In the past, many borrowers would often stay with their home loan lender for the entire loan term.
But now that the mortgage industry is even more competitive, it is worth looking for a better deal.
There are a number of myths that may have stopped you from refinancing in the past, but we have busted a number of them below.
<ul>
<li>Too costly to refinance </li>
</ul>
With exit fees being abolished on 1 July 2011 (for loans established after this date), refinancing should no longer cost as much as you may think. Most lenders will charge fees to discharge the loan and possibly a legal fee. These cover the cost of releasing the title and closing down the loan account.
The main cost that may deter a borrower from refinancing is lenders mortgage insurance. If you borrowed more than 80% of the value of the property initially then there is a good chance you would have been charged mortgage insurance. Mortgage insurance is lender specific so if you subsequently look to refinance and the loan is still above 80% of the value of the property then mortgage insurance may be levied again.
Although there may be some fees included to switch lenders, if you find a lender who offers lower interest rates, little or no upfront fees or ongoing fees, you may find that you will receive greater savings over the life of the loan that outweigh these initial fees. But make sure you thoroughly research the options available to ensure you are getting the best deal.
<ul>
<li>Too much hassle to refinance</li>
</ul>
Refinancing will require some research, but won’t necessarily be a hassle. With competition between lenders being extremely strong, most lenders are eager to bring in new borrowers and make the application process as stress free as possible. To make things easier for you, collect as much financial paperwork as you can (e.g. payslips, work summaries etc) to help speed up the process.
If you find that a lender is not making the effort to respond to your enquiries or process the paperwork promptly, they may not be the most suitable option for you. Poor service before you apply could mean that service ongoing is poor and be an ongoing frustration.
One of the best places to start is comparing interest rates being offered by different lenders and then contacting your current lender to see if they will reduce your rate to match. If you are successful then you will have been able to reap the benefits of refinancing without much hassle at all!
<ul>
<li>Not worth refinancing if rate is only 0.5% lower than current rate</li>
</ul>
No matter how big or small the interest rate discount is, it can help save you money. For example, if you had a $400,000 loan over 30 years with a 5.5% interest rate, but then switched to a loan of 5.0%, you could save close to $125 a month or close to $45,000 over the loan term.
However, the interest rate isn’t the only factor that can help save you money on your home loan. Factors such as the differences between the ongoing fees for your current and new loan will need to be considered. A discount of an annual fee from $495 to $299 or even no ongoing fees could mean more money in your pocket over the long term.
There are a number of features that can save you a significant amount of money over the life of the loan. An offset account, free redraw and unlimited extra repayments are just some examples.
<ul>
<li>Borrower’s with a fixed rate loan cannot refinance</li>
</ul>
Borrowers are able to refinance with a fixed rate home loan, but there is a good chance there will be extra break costs.
Calculating break costs is complicated and takes into consideration how much your fixed rate is and how much variable rates have changed plus the term remaining on your fixed rate. However, you may discover that the savings you receive from refinancing could be more than the break fees you will incur. Before making any decisions, speak with your current lender about what break costs are involved to ensure these costs do not outweigh the benefits of refinancing.
<ul>
<li>I was approved for my current home loan, so I’ll be approved for a refinance</li>
</ul>
Many borrowers make the mistakes of assuming they will be approved for a refinance home loan because they were approved for their current loan.
When you apply to refinance, you will go through the same application process. The lender will look at your current financial situation and this may cause problems if you have taken on more debt since taking out your current loan.
The value of properties generally increase over time, but you may find that the value of your property has actually gone down. Research property values in your area to help ensure that you have sufficient equity to refinance.
The new lender will most likely get a valuer to inspect the property. A property in bad repair, termite damage or a partially completed renovation could mean that the new lender is not willing to use the property as security for the new loan.
Gavin Smith is director and general manager of <a href="https://www.statecustodians.com.au." target="_blank">State Custodians</a> and has over 20 years’ experience in leadership roles within the banking services sector.
</body></html>

gsmith-qGJafBfKnu

Five myths that may have stopped you from refinancing

<html><body>
The Australian Bureau of Statistics (ABS) released building approvals data for June 2014 last week.
National dwelling approvals fell by 5.0% over the month with house approvals falling by -2.6% and unit approvals down -8.4%.  Despite the fall in approvals over the month, a significant number of dwelling approvals remain in the pipeline.  Note that dwelling approvals have now fallen over four of the past five months.
<img class="aligncenter size-full wp-image-3549" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Chart-14.jpg" alt="Chart 1" width="500" height="182">
Year on year, dwelling approvals are 16.0% higher in June 2014 than in June 2013. 
House approvals have increased by 12.2% year-on-year while unit approvals have surged by a greater 22.0%. The greater rise in unit approvals compared with house approvals reflects changing lifestyle patterns and greater acceptance of higher density living.  However, a recent analysis we have undertaken indicates units are less likely to be ultimately completed than houses. 
Although the pipeline is strong, it is reasonable to expect that not all of these units will ultimately be constructed.
<img class="aligncenter size-full wp-image-3550" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Chart-24.jpg" alt="Chart 2" width="500" height="179">
The month to month dwelling approvals data is quite volatile, given this it is worthwhile looking at the annual number of approvals. 
Over the 12 months to June 2014 there were 108,598 house approvals and 85,067 unit approvals.  With a total of 193,667 dwelling approvals over the year there has been a 20.7% increase in approvals year on year. 
Total annual dwelling approvals are now at their highest level since October 1994.
<img class="aligncenter size-full wp-image-3551" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Chart-35.jpg" alt="Chart 3" width="500" height="180">
Focussing on dwelling approvals, across the combined capital city housing markets there were 144,278 approvals over the 2013/14 financial year.  This was an increase of 25.5% over the year and the highest number of annual approvals on record. 
Both Sydney and Perth have also recorded their highest ever number of dwelling approvals over the past year. Over the year there were 69,973 houses approved for construction (+21.3% over the year) and 74,305 unit approvals (+29.8%).
Most individual capital cities have recorded an increase in dwelling approvals over the year with the largest increases recorded in Brisbane (47.1%), Sydney (30.6%), Adelaide (30.4%) and Perth (27.6%).  Darwin was the only city where approvals were lower over the year, down -3.7%. 
Comparatively the annual increase in dwelling approvals has been much lower in Hobart (12.9%), Melbourne (13.9%) and Canberra (22.6%).  Sydney and Melbourne alone have accounted for almost 58% of all capital city dwelling approvals over the year.
<img class="aligncenter size-full wp-image-3552" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Chart-43.jpg" alt="Chart 4" width="500" height="180">
As noted earlier, there have been more unit approvals across the combined capital cities than house approvals. 
Over recent years around 98% of house approvals have ended up as completions compared to only 86% of unit approvals.  While units are increasing in popularity there is much less certainty about their ultimate construction than there is for houses. 
Across the cities Sydney had 68.8% of approvals for units and in the remaining cities the figures were: Melbourne (52.9%), Brisbane (56.0%), Adelaide (32.3%), Perth (23.8%), Hobart (11.2%), Darwin (58.7%) and Canberra (61.9%).
Despite the monthly fall, the pipeline of dwellings approved for construction is significant.  It is important to note that over the past five months, dwelling approvals have fallen on four occasions.  This may indicate that the sector has moved through the peak levels of dwelling approvals. 
The strong pipeline of unit approvals, particularly in capital cities, also carries a risk as units are less likely to be ultimately constructed than houses.
Nevertheless, the Reserve Bank stated that with low interest rates they didn’t just want to see higher house prices but also a construction response.  This certainly seems to be how the current conditions are playing out and with population growth recently starting to slow we may start to see an improvement in the alignment between home construction and population growth.
</body></html>

ckusher-ujnxiKuFQs

Unit approvals surge, but uncertainty remains over their construction

<html><body>
The headline for this article references a comment by a planning aficionado last week along the lines of many people are entitled to, and do have their say, but at the end of the day "there still needs to be a bus driver." This was in reference to the malaise of municipal councils north of the Murray and the friction generated from those councils not necessarily heading in a common direction, or advancing their agendas without an overarching plan and/or vision that a body such as a State Government would provide.

Different context yes, but the rumblings of late surrounding Fishermans Bend leads me to draw some parallels with what is occurring north of the border.

As many readers are aware Fishermans Bend reached a critical juncture last week when it was announced that a handful of the dozens of towers slated for the precinct gained approval. Notable in that these towers are the first large-scale developments given a green light for the Urban Renewal Area, whereas previous approvals were of a low-rise nature.

Encircling the raft of approvals was an almost pall of commentary, bemoaning all things Fishermans Bend. Examples include:

<ul>
<li><a href="http://www.heraldsun.com.au/leader/central/port-phillip-mayor-slams-state-governments-tall-towers-plan-for-fishermans-bend/story-fngnvlpt-1227049190768">Port Phillip Major slams State Goverenments's tall towers plan for Fishermans Bend</a></li>
	<li><a href="http://www.onlineopinion.com.au/view.asp?article=16609&amp;page=0">IBAC, the development industry and Australia's newest planning disaster</a></li>
	<li><a href="http://www.heraldsun.com.au/leader/central/back-to-the-drawing-board-on-fishermans-bend-says-labor-mp-foley/story-fngnvlpt-1227045238416">Back to the drawing board on Fishermans Bend says Labor MP Foley</a></li>
</ul>
Add to this the questionable assertions as outlined in this article entitled "<a href="http://www.theage.com.au/victoria/a-tall-order-as-melbourne-city-council-seeks-to-reclaim-skyscraper-approval-powers-20140901-10b3j7">A tall order as Melbourne City Council seeks to reclaim skyscraper approval powers</a>." Current Planning Minister Matthew Guy is derided for approving too many planning applications as if he in some way is responsible for instigating the mass of current applications; last time I checked developers lodge planning applications where and when they see fit.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip_ny_0414_03.jpg" rel="gallery-all" title="The metaphorical Fishermans Bend bus - everyone's lining up to take a shot. Image courtesy Time"><img alt="" class="image-article-full-width-580px" height="384" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/tip_ny_0414_03.jpg?itok=WWLOAikw" title="The metaphorical Fishermans Bend bus - everyone's lining up to take a shot. Image courtesy Time" width="580"></a>

<figcaption>The metaphorical Fishermans Bend bus in the eyes of some. Image courtesy Time</figcaption></figure>So it seems all and sundry are lining up to slag Fishermans Bend prior to the commencement of works, with a multitude of opinions thrown into the public sphere. There's nothing wrong with that of course but one of the critical questions has already been answered by Labor leader Daniel Andrews should Labor triumph in the upcoming State election.

Whilst displeased with certain aspects of the Fishermans Bend planning process to date, Labor "<a href="http://www.heraldsun.com.au/news/victoria-state-election-2014/opposition-leader-daniel-andrews-backs-fishermans-bend-redevelopment-with-some-concerns/story-fnocxssc-1227040443256?nk=9805beb53b5578634c400a400d5ce3e6">will not ditch the master plan if it wins office</a>." Having been ardent critics to date, Daniel Andrews' comment suggests that Labor also at a State level understands the vital nature of Fishermans Bend, particularly as an economic driver into the future.

It also gives the impression that someone will be 'driving the Fishermans Bend bus' post election, regardless of who wins.

So big picture thinking seemingly assured, what is the pertinent criticism of Fishermans Bend that puts other mediocre arguments surrounding the precinct to shame? The Urban Renewal Area absolutely needs a coherent and cohesive structure plan beyond what has already been put forward.

I consider tower height near on obsolete in the current Fishermans Bend argument; whether a tower is 20 or 40 levels is to my way of thinking near inconsequential compared to what occurs at street level which is absolutely paramount. Consider Southbank and Docklands whose common failings revolve around what occurs (or more accurately what doesn't occur) at street level. Tall or short buildings aside, if the public realm doesn't work it's almost inconceivable that anything else will.

Post election the party of the day needs to place Fishermans Bend's transport and public realm considerations at the fore. Provide clarity as to the location of light and heavy rail options, implement an area-wide ground level landscape plan, nominate specific sites for what will become necessary community infrastructure and ensure the street level activation of all buildings for the area. Granted much of this has been done to a degree, but half-arsed attempts lead to poor outcomes.

It's about getting the fundamentals right, and getting them right sooner rather than later (hello Docklands!)

Regardless of who wins the upcoming election, Fishermans Bend's structure plan, transport blueprint and urban principles need to be enshrined prior to works commencing. Is this a case of easier said than done? Once the Urban Renewal Area stops being used as a political football, I think not.
</body></html>

silvermb

Who's driving the Fishermans Bend bus beyond the upcoming election?

<html><body>
Golf was an utter obsession for me as a teenager, the blistered hands testament to the fact that my mates and I would think nothing of playing 36 or even 54 holes in a day through the school hols.
At my best I was a single figure handicapper, which may sound impressive if you're a high handicapper, but in reality given the endless summers spent out on the course or on the practice range, I probably should have gotten lower. Upon heading off off to uni to study there was far less time to dedicate to the game and I was frustrated to see the junior pros from our club improve and overtake me - golf is a terribly unforgiving sport to those who do not practice. 
The moral of the story is that if you can't be the best at something, then you should just quit and give it up. 
Here are five golfing analogies for investors I picked up from watching the British Open...
<ul>
<li>Discipline</li>
</ul>
My teenage mates and I were always thrilled by watching John "Wild Thing" Daly play golf with his "grip it and rip it" mantra. 
An eccentric anti-establishment character, Daly drove coaches and administrators to distraction with his non-conformist behaviour, and against all the odds won two major championships including the British Open itself at the home of golf, St. Andrews.
As young lads, Daly appealed to our young male egos. He belted the golf ball a proverbial mile with his 'Killer Whale' driver and a bit like us he was rebellious, drank lots of beer and had a terrible haircut.
As a general rule, though, major-winning golfers are not like John Daly. 
Ian Woosnam reportedly enjoyed a pint, and some golfers periodically over-indulge in food or other 19th hole pleasures, but most pro golfers at the peak of their game are relatively fastidious in their discipline and detailed preparation
Routine, preparation, discipline.
Discipline is the first rule of successful investment. 
Take the stylised example of a person aged 25 who earns $50,000 per annum and receives annual pay increases of 3.5% through their working career. 
Thanks to compounding growth, even at only 3.5% annual pay increases their total cumulative gross earnings could be far, far higher than you might intuitively expect.
<img src="https://4.bp.blogspot.com/-WuK1fnaEnrs/U9Kkn99EGLI/AAAAAAAAOwU/M7QG0nufC5w/s1600/1..jpg">
It's not fashionable to say so, but wages growth has outpaced inflation for years in Australia across all income brackets, and on average folk have <a href="https://petewargent.blogspot.co.uk/2013/05/fishers-money-illusion" target="_blank">more disposable income</a> than in years gone by. 
It takes a level of commitment and discipline, sure, but the fact of the matter is that most people with a full-time job should be able to save and invest something for the future.
You tend to make some enemies pointing this out, but there's nothing like living in a Third World country for a couple of years to change your perspective and realise just how blessed we are to live in a country of abundant wealth such as Australia. 
The first rule of investing is to establish the discipline to spend less money on junk that we don't need and set aside money to invest.
One of the scariest things about working in professional practice where there are many high income earners is seeing people work for decades yet setting aside nothing for the future (often in Britain, not even a pension contribution).
Article continues on the next page. Please click below
<hr class="system-pagebreak" style="line-height: 1.3em;">
<ul>
<li>Sacrifice</li>
</ul>
In a similar vein, the greatest golfers through history have made huge sacrifices to reach the top echelons of the game.
Instead of idolising John Daly or the eccentric genius of Severiano Ballesteros, in hindsight as youngsters we should have been learning from the unstinting work ethic of the single-minded Sir Nick Faldo.
From a very young age Faldo was driven by a "quest for excellence", and dedicated countless thousands of hours to being the finest and most thoroughly prepared player that he could be. 
A golfer of incredible mental fortitude, Faldo took the unthinkable step for an Order of Merit winner of remodeling his swing under the watchful gaze of David Leadbetter in the mid-1980s. 
After enduring several frustrating years in the relative wilderness, the brave step paid dividends and Faldo went on to win no fewer than six major championships, becoming a true golfing great and fulfilling his quest for excellence.
Outstanding results in all spheres almost always require sacrifice and a willingness to go the extra mile. 
<ul>
<li>Patience</li>
</ul>
At the major championships, pro golfers aim to get themselves into contention by keeping the ball in play and making few costly errors, perhaps looking to pick up a few birdies on the par five holes.
As a rule, professionals don't go out on to the course aiming to shoot a 62, instead they focus on playing the percentages, approaching each shot in isolation and playing every situation on its merits.
Golfing legend and eight-time major winner Tom Watson aged 64 incredibly recently shot his age - a round of 64 - by applying precisely this disciplined approach.
If a player is on course to miss the cut towards the end of the second round they may take a few more calculated risks, but generally major championship golf is a percentages game and being too aggressive can backfire.
Golf psychologists therefore tend to use phrases like "control the controllables", "routine, routine, routine" and "beat them with patience". 
I recall the junior golfers at our club frequently annoyed senior members by knocking them out of Matchplay events where points are awarded for winning individual holes, yet were rarely so successful in the Medal tournaments where cumulative strokes are instead recorded.
Being a good investor is more akin to a Medal competition than a Matchplay event...but it often takes an early defeat or two to understand this.
The first time I went to a casino I won £690 and I thought it was brilliant (bad news). The next time we went I lost the lot which was a salutary lesson, and funnily enough I've gambled in casinos very rarely since! It also took me a hefty $50,000 loss on speculative mining shares to realise that there is no need to go down that path again.
Investing should be fundamentally simple for those of a patient temperament and an accumulator's mentality. Why speculate in low quality companies which have never made a profit or buy property in remote mining towns to chase a fast buck? 
Far better to aim to continue accumulating high quality assets such as shares in dividend-paying blue chip companies, index funds or well-located capital city properties, which will continue to deliver returns in perpetuity. 
 <img src="https://4.bp.blogspot.com/-xZ1-7M0G0Vg/U9KkuMdePYI/AAAAAAAAOwc/EOHQeczwPzY/s1600/2..jpg">
 
<hr class="system-pagebreak">
<ul>
<li>Leverage</li>
</ul>
I'm not sure about you but I can't move my hands particularly fast. Yet when a supreme athlete such as Tiger Woods hits a golf ball, it really stays hit and the clubhead speed generated can top an awesome 120 miles per hour. How so? The reason is due to leverage.
Using the longest club in the bag, the 'one wood' or driver, there are golfers out there who can hit the golf ball extraordinary distances...up to half a kilometre in some cases! As Archimedes said: "give me a lever long enough lever and I shall move the world". 
Whooshka! Of course, in tournament play, one will rarely see a golfer hit a ball in such a manner, due to the necessary lack of control. All golfers use leverage to their advantage, but it must be utilised with a level of restraint and control, and a bit of common sense. 
Leverage is the principle reason that average investors look to investment property - residential real estate is the one asset class which allows them to use the greatest leverage. 
I recall as a nipper my parents selling their house which they'd bought for £4,000 in Sheffield for more than double the amount they had paid for it. They upgraded and later bought a house for £30,000 which they'd negotiated down by £1,500.
Even as a youngster I was struck by three things. Firstly, the sheer size of the numbers involved as compared to my old man's reasonably modest pay cheque.
Secondly, how even for a family where funds were pretty tight - a family of five boys supported on my Dad's probation officer salary - it was possible to build thousands of pounds of equity over time as a property owner.
And thirdly, how each time my parents moved house, prices had moved higher - much higher - and that wasn't only because they were trading up.
That's the combined power of leverage and compound growth at work, which allows sensible homeowners to build up significant equity or net worth over time.
In my case, I intuitively looked to investment property when I was in my 20s because it allowed me to invest with millions of dollars that I could not otherwise have done.
It should go without saying, however, that leverage is a double-edged sword and should only be used sensibly and with a long-term outlook, since while gains can be magnified, so too can losses.
The anti-real estate contingent tend to oscillate interchangeably between two lines of argument: that property has not been a good investment (demonstrably false, if you have invested sensibly) and that property investment is unethical or socially useless.
The fact of the matter is, if you know what you're doing, property can be an outstanding investment as part of a balanced portfolio.
<ul>
<li>Risk Management</li>
</ul>
If you were watching the British Open carefully, you'd have seen the brilliant Rory McIlroy decline to use his driver on the 72nd hole, instead opting to hit a more conservative long iron.
Why would a guy who had been melting it up to 400 yards off the tee across the hard links turf not use his biggest club? Risk management. 
McIlroy had already taken calculated risks earlier in the tournament and now was using less leverage and eliminating risk. It worked a treat and he took out the claret jug as the Open Championship winner.
Successful investing is very much like a 72 hole golf tournament in the the winners must use sound 'course management' to avoid making catastrophic mistakes and manage risk.
Moreover, it generally pays to be a bit more aggressive and invest in what are perceived as riskier growth or ownership when you are younger and have time on your side. 
Later in the game you may elect to deleverage or transition towards income assets, but the key is to get yourself into the happy position of having these choices.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
</body></html>

pwargent-M4siyDbqQY

Five golfing analogies for investors

<html><body>
Across the country, numerous changes have been made to first home buyer grants (FHOG) and eligibility requirements.
There are, however several common eligibility factors that are a constant across the country.
If you have previously owned a home this could impact upon the chance of your application being successful. However, some states allow previous ownership of investment properties, if they were purchased between certain years.
Usually, if you have a spouse or a de facto partner who already owns a property, you will be ineligible for the FHOG. For de facto couples, residency is required for at least one person.
Occupation of the property purchased using the grant is also required for a set amount of time, during the first 12 months of ownership.
You will also need to fill out the application form in a timely manner after purchase. Check whether your respective government uses the settlement date or the contract date as their key marker when assessing applications.  If you are intending to buy in a location that will be affected by an upcoming change to the grant this is even more crucial.
Those who fail to fulfil the occupation requirements will be required to refund the money received and may also find themselves financially penalised.
If you're interested in how you apply for these grants, here's a comprehensive explanation.
Here are the grants current accessible by first time buyers, as per information available from the respective Office of State Revenues and Treasuries. Australian Capital Territory
First home buyers in the ACT can receive $12,500.
This is only available for "new" or "substantially renovated" property worth $750,000 or less.
New or substantially renovated properties include:
<ul>
<li>A home that has not been previously occupied or sold as a place of residence; or</li>
<li>A substantially renovated home that, as renovated, has not been previously occupied or sold as a place of residence; or</li>
<li>A property which is subject to an "off the plan" purchase agreement.</li>
</ul>
There is no grant available for purchasing established houses.
As a condition of the FHOG, buyers will need to occupy the property for 12 months upon completion of the dwelling.
To claim the grant, you will need to apply in a one year time period starting from either the settlement or date of issue of the Certificate of Occupancy.
Owner builders can only lodge after the home has been completed.
Payment of the grant is usually then made within 10 days of lodgement.
First home owners who fulfil the requirements for the grant may also have the opportunity to defer their stamp duty.
New South Wales
First home buyers in NSW can receive $15,000. From 1 January 2016 this will be reduced to $10,000.
This is only available for to buy a new home or to build your own new home. The property is required to be worth $750,000 or less.
Properties that are applicable include:
<ul>
<li>A home that has not been previously occupied, including occupation by the builder, a tenant or other occupant;</li>
<li>A home that has not been previously sold as a residence. Where the home is being purchased, it must be the first sale of that home;</li>
<li>A home that has been substantially renovated and a home built to replace demolished premises.</li>
</ul>
There is no grant available for purchasing established houses.
As a condition of the FHOG, buyers will need to occupy the property for a six month continuous period, within 12 months of completion.
Duty exemptions are available when purchasing new properties valued up to $550,000 and concessions exists for those from $550,000 to $750,000.
Those buying vacant land will pay incur no duty on vacant land valued up to $350,000 and concessions exists  for properties valued between $350,000 to $450,000.
To be eligible, you must not have owned and occupied (for more than six months) a home in Australia after 1 July 2000 and you cannot have owned a property before this time.
ALSO READ:<a href="/news/everything-you-need-to-know-about-the-nsw-first-home-buyer-15-000-grant-scheme"> Everything you need to know about the NSW first home buyer $15,000 grant scheme</a>
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Northern Territory
First home buyers in the Northern Territory can get up to $26,000 towards their first purchase, with established first time buyers not left out of the picture either.
But from 1 January 2015, the First Home Owners Grant will be redirected solely to first home buyers looking to buy or build a new home.
Currently, as of 13 May 2014, there exists a transaction eligibility threshold (in plain English, this essentially means that the property can only be worth up to a certain amount) for established properties of $600,000. Prior to this time, both new and established properties were given a limit for grant eligibility.
An established home is one that has been "previously sold or occupied, and is lawfully fit for occupation."
A new home is considered one that has never previously been lived in or sold as a place of residence.
However: "To prevent anomalies, a discretion applies in limited circumstances to declare a home that has been previously sold, but not occupied, to be a new home."
From 13 May 2014 to 31 December 2014, a new home can bring in $26,000. Meanwhile, an established property in an urban area will be provided $12,000, and everywhere else will be given $25,000. The only material difference in grant money compared to 4 December 2012 - 12 May 2014 is an extra $1,000 for new homes (and threshold changes). An "urban area" means land that sits within the Darwin, Palmerston or Litchfield municipalities. It also covers Wagait Shire, the Darwin Waterfront Precinct, the "prescribed area" for the Darwin Rates Act and other areas potentially proscribed by regulation.
Since December 4, 2012, there has been no stamp duty concession for first timers.
Queensland
Queensland first time buyers can get themselves $15,000 when purchasing a new home. Unfortunately, nothing remains for first time buyers who are purchasing established properties.
Their Great Start Grant, previously being known as the First Home Owner Construction Grant, has been available for those buying new (or substantially renovated properties) since 12 September 2012.
If you previously held any interest in residential properties before 1 July 2000, even if it was an investment property, you're not eligible. Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.
Grant applications are processed within 10 days of receiving the information.
Those looking to get the grant then must move into the property within one year of completion, and live there for six continuous months.
South Australia
South Australian first time buyers are currently eligible for a FHOG on new homes and established homes - however, since 30 June 2014 the grant hasn't been available for established properties.
The property value must not exceed $575,000.
For those buying a new home, a $15,000 grant has been available since 1 January 2014.
If you previously held any interest in residential property before 1 July 2000, even if it was an investment property, you're not eligible. Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.
After the property is built, you must then live in the property for six months commencing within 12 months of completion.
Off-the-plan properties may also be eligible for a stamp duty concession for a new apartment or substantially refurbished apartment. A full concession was available for properties from 31 May 2012 to 30 June 2014, capped at the stamp duty payable on a $500,000 apartment (or $21,330). A partial concession now applies, from 1 July 2014 to 30 June 2016.
The concession does, however, apply to specific areas as outlined on the Revenue SA site and associated maps.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Tasmania
Currently, established and new properties can receive a benefit for first time buyers, with up to $30,000 available. As in many other states and territories, this was altered from 1 July 2014, and saw established home buyers lose some benefit. Established property buyers can currently get themselves $7,000.
For new properties, the First Home Builder Boost has increased since 7 November 2013 from $8,000 to $23,000, and applies until 31 December 2014. Those eligible for this would also be eligible for the $7,000 FHOG, bringing their total payment to $30,000.
To be eligible, you must not have owned and occupied (for more than six months) a home in Australia after 1 July 2000, and you cannot have owned a property before this time.
When you get the FHOG, you need to live in the property for a continuous six months within 12 months of the data that the certificate of occupancy is issued.
Victoria
Only new properties get first time buyers a grant in Victoria, as of 1 July 2013. A payment of $10,000 is available.
It is only available for properties that do not exceed $750,000 in value, apartment from properties on primary production land.
You must live in the property for 12 months continuously, within 12 months of settlement.
The reduction in duty is becoming increasingly attractive - initially, 20% was reduced on 1 July 2011, followed by 10% on 1 January 2013, 10% on 1 July 2013 and an upcoming 10% on 1 September 2014.
Western Australia
A $10,000 grant for first time buyers purchasing or building a new home has been available since September 2013. Those looking to buy an established property may be eligible for a $3,000 grant.
A cap to first home owner grants was introduced in early 2010. To be eligible for a grant, your home must cost less than $750,000, though this threshold increases to $1,000,000 if your home is located north of the 26th parallel. You can't receive a grant if you owned a residential property after 1 July 2000 and occupied it at all prior to 1 July 2004, or more than six continuous months after 1 July 2004. You must live in the property you're intending to buy with your grant for a continuous six months within 12 months of completion.
The Home Buyers Assistance Account, which can provide $2,000 in help, is an extra benefit for West Australian first timers. This $2,000 comes from interest paid on real estate agents' trust accounts. Essentially there for 'extra' fees around buying, like solicitor and valuation fees, you can only use it for properties costing $400,000 or less. Your purchase must be a established or partially-built home and you must live in the home for the first 12 months. You must purchase the property through a licensed real estate agent, have the loan financed through a lending institution. To be eligible it must also be your first property purchase in Australia.
First home owners also receive a discounted stamp duty rate. Established homes must not be worth more than $530,000 (as of July - this was previously $600,000) to receive the discount. No duty is payable up to $430,000 value (previously $500,000). Above that threshold, $19.19 per $100 is payable (previously $22.51). For vacant land, no duty is payable up to $300,000, and after this $13.01 per subsequent $100 is payable. For vacant land, you will need to pay this upfront and then retrieve a refund on receipt of the FHOG - once you have completed the build. The land cannot be worth more than $400,000.
</body></html>

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News