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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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It wasn’t that long ago that many investors thought it was just new property that depreciated. But that’s changed, and most now understand that even an old property will have some sort of claim.
However, the depreciation benefits of property purchased close to June 30th are much less understood. And on the surface that’s fair enough. Let’s say, you’ve settled on a property on the 1st of June, what would be the point of paying for a schedule for just 30 days of depreciation – wait until next year, right?
Wrong. In the first financial year of ownership, it is not uncommon for an investor to claim thousands of dollars in deductions for a property purchased close to June 30.
For instance, a Sydney client of ours settled on a one-bedroom Chatswood unit on June 25th last year. The property was built in 1999 and the purchase price was $450,000. Yet, the deduction, which was for 5 days only remember, was over $5,000.
What’s the catch, I hear you say. Well, there isn’t one. The ability to make such a significant deduction for just a short period of time is due to the immediate write-off and low pooling of items that are classified as <a href="https://www.washingtonbrown.com.au/list-of-items" target="_blank">plant and equipment</a>.
Neither of these amounts should be pro-rated, so you can maximise these items whether the property has been owned for one day or 365 days. And the <a href="https://calc.washingtonbrown.com.au/wbdcalculator/" target="_blank">property age is nothing to worry about either</a>, as all properties are eligible for plant and equipment.
So, for any plant and equipment in the property valued under $300 you have an immediate write-off and for those items under $1,000, they are low-pooled and claimed at 18.75% in the first year.
Here’s another example from a client of ours that bought small unit in Melbourne’s inner city. They paid close to $300,000, the building was just over ten years old and they settled on the 15th of June. The first-year depreciation claim, for 15 days only, was a deduction of $6,000.
The items that can fall into these key categories are things like exhaust fans, ceiling fans, range hood, stoves, smoke alarms, etc. – items that most investment properties are going to have. So, the deductions soon add up.
And even if the item costs over $1,000 – but your portion is only, say $200, you can claim the item in full immediately, as your portion is under the $300 threshold.
In short, it pays to get that a schedule as soon as you settle, even if that’s at the end of the financial year. And let’s face it, who wants to be filling in the adjustment form if you wait 12 months.
 
Tyron Hyde is a director of quantity surveying firm <a href="https://www.washingtonbrown.com.au/" target="_blank">Washington Brown</a>. He has a degree in construction economics and is an associate of the Australian Institute of Quantity Surveyors.
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Even if you have just bought a property, you can still claim depreciation this year

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The R. Corporation’s Cheltenham development Central Park is selling briskly as first-home buyers seek to purchase a property under $600,000 before the <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">Victorian government’s $13,000 first-home bonus expires on June 30</a>.
<img src="/images/stories/2012/05/chelt1.jpg">
The 208-townhouse development launched in late March, and 40 of the 52 in the first stage have sold. Just over half of the townhouses sold in the first three days.
<img src="/images/stories/cheltcentralpark1.jpg">
The majority of the offerings in Central Park are priced under the all-important $600,000 threshold. There are five styles of townhouse offered in this release, all named after flowers. Buyers of the three-bedroom offerings Gardenia (135 square metres, from $630,000) and Orchid (170 square metres, from $825,000) will not be eligible for the government’s first-home bonus, but the other styles are under the threshold. These include the three-bedroom Camellia (117 square metres, from $595,000), three-bedroom magnolia (138 square metres, from $592,000) and two-bedroom Jasmine (121 square metres, from $530).
<img src="/images/stories/2012/05/chelt2.jpg">
“For first-home buyers now is the perfect time to buy,” says R. Corporation marketing manager Rohan Ames.
<img src="/images/stories/cheltcentralpark4.jpg">
“With as little as $45,000 [deposit], access to the first-home buyers’ extra $13,000 for new homes and their first-home buyers’ grant … Central Park townhouses offer a modern and affordable way into home ownership in the bayside area.”
The median sale price for houses in Cheltenham, which is about 20 kilometres south-east of Melbourne CBD, is $605,000, according to RP Data.
 
 
<hr class="system-pagebreak">
 
 
<img src="/images/stories/cheltcentralpark2.jpg">
The development was initially marketed at the second-home buyer market, but Ames says first-home buyers are finding they can afford several of the offerings.
<img src="/images/stories/2012/05/chelt3.jpg">
“Our sophisticated product and considered design aesthetic is, most importantly, attainable.  First-home buyers will be genuinely surprised that they can afford to live in an R. Corporation townhouse,” says Ames.
<img src="/images/stories/cheltcentralpark3.jpg">
All of the townhouses have two bathrooms, and they all include landscaped courtyards, balconies or gardens. Every property also comes with a carport or garage.
 
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cknowlton-QnEa6ntUYP

First-home buyers buying sub-$600,000 townhouses in Cheltenham’s Central Park project

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Investors in self-managed superannuation funds should be required to sign a written agreement acknowledging a warning that their funds would not be compensated for theft or fraud, the Australian Securities and Investment Commission told a Senate estimates committee last night.
The Australian Financial Review reported that the head of ASIC said the corporate watchdog would ask the Federal Government to introduce requirements that would force investors to sign a written acknowledgement before setting up an SMSF and every two or three years after that.
The move by ASIC comes after SMSF funds were deemed not eligible for compensation after the $176 million collapse of Trio Capital in 2009.
“I think it is actually frankly quite important that Australians who have self-managed super clearly acknowledge that they basically don’t have that protection,” ASIC chairman Greg Medcraft told the Senate committee according to the newspaper report.
Peter Burgess, technical director of the Self Managed Super Fund Professionals' Association, told SmartCompany that ASIC was getting carried away.
“I think we need to be careful not to get too carried away with this; where do you draw the line?” Burgess says.
“People going into superannuation funds, if they become non-residents, run the risk of their fund becoming non-compliant should they also sign a declaration?
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
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cwaters-YrtBR88nBe

ASIC cracks down on SMSF risk and wants all investors to sign declarations

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Retail sales fell during April, despite economists' predictions of a 0.2% rise, according to the latest figures available from the Australian Bureau of Statistics. 
The figures show the trend estimate for retail sales in April grew by 0.3%, but the seasonally adjusted measure fell by 0.2% to $21.2 billion.
This follows a rise of 1.1% in March and 0.2% in February.
The food retailing industry rose by 0.4%, while cafes, restaurants and takeaway food services also rose by 1%, followed by other retailing up 0.5%, and clothing, footwear and personal accessory retailing up 0.3%. Department stores also rose 0.3%.
Household goods retailing fell 0.4%.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>. 
 
 
 
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pmcstafford-pr9eMARWoN

Retail sales fall in April against predictions

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Residential construction remains in the doldrums, with the value of residential building work completed falling 2% in the March quarter to just under $11 billion, according to the latest quarterly ABS construction figures.
New residential building work fell 1.3% to $9.6 billion on a seasonally adjusted basis, the fourth consecutive quarterly fall following a smaller 0.3% fall in the December quarter.
The value of renovations fell 5.3% to $1.8 billion over the quarter.
The value of residential building is down 8.3% on the March 2011 quarter on a seasonally adjusted basis.
HIA senior economist, Andrew Harvey, says the result for new dwelling construction and renovations is a concern "as it suggests not only that dwelling investment will again detract from GDP growth in the March 2012 quarter, but also that the renovations side of the residential building industry is now also facing headwinds”.
"Renovations have been the positive news story for the residential building industry with the value of total work holding up relatively well, but there are now mounting signs that this side of the industry is slowing.
“Today’s data is just another piece of evidence that current policy settings need to be amended. The official GDP growth forecasts remain too optimistic, interest rates need to be cut again next week and governments need to quickly support the domestic non-resources industry, including residential building and manufacturing so that the nation is well-placed to grow in the longer-term,” he says.
Non-residential construction work fell 9.2% in the quarter to $7.46 billion and is down 6.8% year-on-year.
Combined, the seasonally adjusted estimate of total building work done fell 5% to $18.45 billion in the March quarter.
The total value of building work has fallen 7.7% since the 2011 March quarter.
On the back of the big resource projects, engineering work rose 13.3% for the quarter to $29.84 billion and is up 35.6% year-on-year.
Commenting on the quarterly data, Westpac says housing construction activity weakened, "with the sector facing a number of headwinds" though lower interest rates will provide support to the sector over coming quarters.
An indication of the impact of large resource projects, construction work jumped 38.8% in WA, but declined in all other states. 
Westpac says the  construction sector is likely to add around 0.6 percentage points to first quarter GDP growth, a little above the 0.4 percentage points it anticipated. 
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Value of residential construction falls 2% in March quarter: ABS

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Fixed-rate mortgages currently account for around one in four loans (22%) written by Mortgage Choice brokers and could rise even higher following Australia’s biggest mortgage lender, the Commonwealth Bank, cutting fixed interest rates twice in May. 
However, demand for fixed-rate loans is still well below the record levels written in December 2007 (36%) and February 2008 (37%), according to data prepared by Mortgage Choice for Property Observer.
Click to enlarge
<a href="/images/stories/2012/05/mcmay30.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/mcmay30thumb.gif"></a>
Source: Mortgage Choice
The rush to take out fixed-rate mortgages over this period burned many fixed-rate borrowers who took the three-year fixed products, as the RBA rapidly reduced the cash rate in response to the GFC. 
The RBA cut the cash rate from 7.25% in August 2008 to 3% by April 2009. 
Borrowers who took out a three-year fixed-rate loan in August 2008 would only have been able to refinance into a cheaper product late last year – unless they were willing to pay early exit fees – in some cases, thousands of dollars. 
“The cash rate continued to rise during early February 2008, while fixed-rate demand began tapering off as the impact of the GFC moved closer to home,” explains Mortgage Choice spokeswoman Belinda Williamson. 
“In the years since we have not seen fixed-rate demand return to the pre-GFC levels. The closest it has come was in March 2012, when fixed-rate demand reached 26%.” 
She says the jump in fixed-rate loan demand in 2007, up from 23% in July 2007 to 27% in August 2007, coincided with the cash rate rising for the first time in almost one year. 
“The cash rate jumped again in November 2007, and during this same month, Mortgage Choice reported record levels in the fixed-rate loan uptake (to 37%, up nearly six percentage points from October 2007),” Williamson says. 
“The cash rate continued to rise during early February 2008, while fixed-rate demand began tapering off as the impact of the GFC moved closer to home.” 
Currently, demand for fixed-rate mortgages has remained high despite the Reserve bank cutting the cash rate in November and December, and a double rate cut in April.  <a target="_blank" href="/news">Westpac predicts another 50 basis points in cuts between now and August.</a>
Official ABS figures also have fixed-rate demand at 14.5%, the highest level since 2008, with most of the growth occurring during the period starting in November when the RBA began cutting official rates.
Figures compiled by Canstar Cannex for The Australian also show that fixed rate loan commitments have grown rapidly after making up just 7.5% of all new mortgages in March last year.
In January 2010, fixed rates accounted for just 0.88% of Mortgage Choice loans – the lowest level in five years.
Currently, demand is being driven by the cheap rates on offer in the fixed-rate space.
The Commonwealth Bank currently offers a standard variable mortgage of 7.01% but a three-year fixed rate of 5.99%, which illustrates in a nutshell why fixed-rate products remain so appealing. 
Aside from the CBA, Westpac has trimmed its three year-fixed mortgage by 20 basis points to 6.19%; HSBC has cut its three year fixed-rate product to 6.09% (or 5.99% for those investors who take up the interest-in-advance offering) and ME Bank has cut its three-year fixed rate mortgage product to 5.99%.
 
 
 
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Fixed-rate mortgage demand driven by cheap deals – but still off GFC peaks: Mortgage Choice 

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Population movements are an important element of housing demand; more people means more demand for housing.  With Australia’s rate of population growth slipping from a high of 2.2% or 467,300 new residents over the year to December 2008 down to 1.4% (319,600 persons) over the year to September 2011, there has clearly been a fall in housing demand.
While the slowdown in population growth is a national phenomenon, there are still plenty of regions around Australia where, at least according to estimates from the Australian Bureau of Statistics, population growth remains quite rapid.
As can be seen from the table below, which shows the council regions around the country with the largest number of new residents over the past five years, Queensland continues to attract a large number of new residents.  In fact many of the council regions that comprise south-east Queensland rank quite high in the top council regions list for population growth over the five years to June 2011.
The regions showing a population deficit are all rural locations, many of which have been recording a fall in population for some time.  Each of the regions featured in the top 15 list below is recording a population lower than what was recorded not just five years ago, but 10 years ago.  Of the 565 council regions around the country, 153 (or just over a quarter) of them have recorded a population decline over the past decade.
Click to enlarge
<a href="/images/stories/2012/05/rpmay301.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay301thumb.gif"></a>
Moving down to a more granular basis, at the suburb level there are some interesting trends.  Almost 60% of the top 30 suburbs recording the highest population growth over the past five years are located across, in Melbourne and 20% are located around Perth.  The only regional suburbs to market the top 30 list for suburb level population growth over the past five years were located on the Gold Coast (note that “regional” suburbs are considered to be any outside of the capital city statistical division boundary).
Four of the five suburbs that have recorded the largest number of new residents between 2006 and 2011 are located across the Melbourne fringe.  The population in the suburb of Pakenham has increased by 14,247 new residents over the past five years.  Over the 12 months ending June 2011 the population increased by slightly more than 10%.
Click to enlarge
<a href="/images/stories/2012/05/rpmay302.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay302thumb.gif"></a>
The outer-Melbourne fringe areas (including the council regions of Wyndham, Melton, Casey, Whittlesea, Cardinia) are arguably one of the better examples of how a long-term planning strategy around land release, amenity development and infrastructure provision can be successfully implemented.  The planning foresight extends back to the Kennett era and is probably one of the main reasons why new dwelling activity around Melbourne’s growth corridor has been so much more in alignment with population growth compared with other capital cities.  Additionally, when you look at land prices across the outer Melbourne fringe, thanks to government policy that makes it easier and cheaper for land to be released and developed, Melbourne land prices are generally more than $100,000 lower than comparable locations in Sydney.
The top 30 suburbs for population growth across regional markets were mostly located at the Gold Coast (30% of the top 30 list) and the south-west of Western Australia, which includes areas such as Harvey, Mandurah and Capel (17% of the top 30 list).
Click to enlarge
<a href="/images/stories/2012/05/rpmay303.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay303thumb.gif"></a>
To provide some further insights into the spatial patterns of population growth around the country and cities we have provided a series of thematic maps below.  The population growth corridors are clear, generally following the path of rail or road infrastructure (highlighting the importance of connectivity).  Interestingly, Melbourne and Perth are the only capital cities to show more than 2,500 new residents within the inner-city suburbs over the past five years, suggesting inner-city densification has slowed down in the other capital cities.
 
 
<hr class="system-pagebreak">
 
 
Australia
Click to enlarge
<a href="/images/stories/2012/05/rpmay304.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay304thumb.gif"></a>
Greater Sydney
Click to enlarge
<a href="/images/stories/2012/05/rpmay305.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay305thumb.gif"></a>
Melbourne
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay306.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay306thumb.gif"></a>
South-east Queensland
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay307.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay307thumb.gif"></a>
Adelaide
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay308.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay308thumb.gif"></a>
Perth
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay309.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay309thumb.gif"></a>
Canberra
 
Click to enlarge
<img src="/images/stories/2012/05/rpmay3010thumb.gif">
Tim Lawless is research director of<a href="https://www.rpdata.com.au/" target="_blank"> RP Data.</a>
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tlawless-5VLUrbAk9s

Australians are moving from the countryside to cities (and city fringes): Tim Lawless

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Development is now a dirty word.
Some statistics to start:
The decade-long average shows new dwelling starts at around 14,000 per month.  At present across Australia it is just 11,000 per month – a 20% fall.  New house sales are down about 15% from long-term averages; a similar trend can be seen in the new apartment market, too.
This snapshot illustrates a more alarming trend – nationally there were 180,000 new dwellings built in 2003-04; this financial year it will be under 130,000.  New house sales peaked in 2002-03 with 113,500 transactions; this year just 78,000 new homes sold.  There were– according to the HIA-JELD-WEN Australia New Home Sales report – 38,500 new apartment sales in 2001-02, but today the HIA reports just 9,000 new unit sales.
In Queensland, 29,000 new dwellings were built in 2003-04, with just 17,500 built over the last 12 months.  Despite the recent building boost, just 950 new houses were sold across Queensland during April – the first time new sales dropped below 1,000 over the last decade or so.
Admittedly, the data on new home and apartment sales is from a survey, rather than a complete snapshot of activity, but it does provide a somewhat accurate picture of what is (well, isn’t really) going on in the new residential market across much of Australia.
So what gives?  Our recent Matusik Pulse poll asked our subscribers and twits (Twitter followers, for the digitally challenged) this question, “What is stopping new residential sales at present?”
Limited development finance and low valuations came in as the clear winner, with just over a third of your votes.  Yes, developers are finding it harder to get finance at present (they have since late 2008) and many lenders require an 80% pre-commitment or above before they are willing to assist with finance.  Wave bye-bye to most new medium- and especially high-rise apartment developments.
Higher taxes and charges on development came in second with about 20% of the vote.  On the Gold Coast, for example, taxes and charges make up 40% of the price of a new house-and-land package.  What this means to the average family is about $170,000 in extra interest over the life of a 25-year loan.  And somehow, there isn’t marching in the streets.  The cost of electricity rises and we see a cascade of letters to the editor, TV cameras taking still shots of utility bills and families crying about not being able to run the air-con.  But we hear nothing about how government is sticking it to the housing sector, and more importantly, to buyers.  This is about our sons and daughters, people, not some overseas buyer or interstate investor.
The world economy is also taking its toll on demand – really, at the heart of this is a lack of confidence, and this is seen in our survey via job insecurity (14%) and a genuine lack of demand (13%).  A large component behind this limited demand has to do with slower population growth and increasing household size.
Poorer potential for capital growth makes up about 10% of the reasoning for the slowdown in sales, with one in 12 saying that developers are not meeting the market.
The usual chestnut – interest rates being too high – barely got a rating in our survey, attracting less than 4% of the vote.
If we don’t somehow boost home building, then many sectors of the Australian economy are left without much momentum.  Home building – as Craig James from CommSec often, and so rightly points out – affects not only builders and tradespeople, but also financiers, retailers, landscapers, building material companies, solicitors, accountants, agents, building service professionals and even independent property consultants!
Not that long ago, we, as a nation, prided ourselves on what we developed.  Today, development is a dirty word.  Well, look around people – 99.9% of what we enjoy involves development.  And before some whack job replies, saying they enjoy going to Cradle Mountain (and who doesn’t!) or to Moreton Island to go camping (again, who doesn’t!), how do you get there?  Teleport?
We must get development on the front page again, and for all the right reasons.  Development creates jobs; it is where we spend nearly all our time; and everyone who reads this post lives in a dwelling.  That was built, too.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
Michael will <a target="_blank" href="/news">present a free webinar on tips on buying your first property as an investment on Tuesday, June 5 at 12.30pm</a>.
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We must get residential development back on the front page

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At an early stage in your house-buying plans you will need to make numerous decisions.  These decisions are interconnected and will also be affected by your affordability.  Subject to your budget, choose a suburb and property that suits your lifestyle or investment needs.
In order to help you, I have broken down some tips that home buyers and investors need to take into consideration when targeting the right type of property to purchase.
Residential home buyers
Choosing the type of house you want requires you to determine what you actually need and what your long-term goals are.  You will need to think about the following:
<ul>
<li>Is this your dream home or a stepping stone?</li>
<li>Realistically, how long will you be living in the house?</li>
<li>Are you planning to have children?</li>
<li>Is the distance to work more important than having a garden or a big house?</li>
<li>Do you have the time, skill, patience and money to renovate or build a new house?</li>
</ul>
There will always be a trade-off between your needs and wants. Think carefully about what you really need and be honest about your own lifestyle and capabilities. All members of the household should be in agreement on basic needs.
If you work long hours or spend lots of time socialising at cafes or restaurants, a smaller home or apartment close to work may be more suitable than a large house that requires gardening and maintenance. If you are planning to start a family, maybe a quieter suburb close to parks might be more appropriate.
It’s a good idea to make a list of the features that you need and want in your home. You may wish to classify these features into “essentials” and “extras”, or to prioritise the features in terms of how essential they are to you and your family. You will never come across a house with every feature you want, and at some stage you may have to sacrifice one feature to get another.
If you are planning to be in this house long term, say for more than six or seven years, you will need to think about your future needs, especially if you have or plan to have children. Not only will the children like to have their own bedrooms, you may want to have an area into which you can escape, which makes open-plan houses unsuitable for the growing family. If the house has inadequate room, make sure that its floor plan is suitable for modification or an extension.
Investors
<ul>
<li>What sort of property do you want to invest in?</li>
<li>What is your financial position?</li>
<li>Do you want to be involved with an owners corporation?</li>
<li>Do you enjoy organising tradespeople?</li>
<li>Do you want to be able to drive past your property?</li>
</ul>
Location is essential. Good consistent capital growth is achieved in most areas where there is a stable and diverse economy.  For that reason, inner-city areas are preferable to country or regional towns with a small population, and where the economy may be based on a single factor.
Once you have decided on a location, the area should be examined in terms of both the attractions and detractions of the immediate environment. In general, tenants dislike properties that have the following:
<ul>
<li>Railway at the back fence</li>
<li>Next door to public toilets</li>
<li>Facing a busy road</li>
<li>Small bedrooms with no built-in wardrobes</li>
<li>No off-street parking </li>
<li>Small living area</li>
<li>Small outdated bathrooms</li>
<li>Lack of heating and/or air-conditioning</li>
<li>No balcony or courtyard </li>
</ul>
Properties should be handy to:
<ul>
<li>Public transport</li>
<li>Shops</li>
<li>Schools</li>
<li>Parks or water</li>
<li>Areas of employment</li>
<li>Within sought-after “lifestyle” locations</li>
<li>In established residential streets </li>
</ul>
Melissa Opie, aka “The Property Lady”, is  a multi-award-winning buyers’ advocate, bestselling author and managing director at <a href="https://www.kpi.net.au/">Keyhole Property Investments</a>.  The team at KPI act for investors and owner-occupiers Melbourne wide from $400,000 to $5,000,000. You can follow <a target="_blank" href="https://twitter.com/thepropertylady">“The Property Lady” on Twitter.</a>
 
 
 
 
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Know exactly what you’re looking for when buying property

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As the end of financial year fast approaches, there are a number of tax and other benefits that can be associated with owning an investment property. 
1. Get the facts
Regular and concise information is imperative to the smooth management of your investment, particularly during the leasing process. A good property manager should provide you with detailed reports about the performance of your property. To that end, annual income and expenditure statements should be provided along with monthly rental  statements.
 
2. Prepay expenses
In most cases for investors, the best way for to boost your property investment refund is to pay for any expenses before June 30 – that way you can claim these expenses as a tax deduction in the 2012 financial year. Typical expenses include rates, body corporate fees, borrowing costs, property management costs and insurance. If you have a high income you may even consider bringing forward required spending such as repairs. This can help you to reduce your overall tax bill. 
3. Know your personal tax position
Before you lodge any expenses it’s important that you consider your tax position carefully. For example, if you have multiple investment properties that are negatively geared (the rental income is less than the expenses of the property), the negative amount could be offset against other income including salary. 
4. Obtain a quantity surveyor’s report
Deprecation refers to a value assigned to the wear and tear of a property of equipment. You can claim a tax deduction for wear and tear without spending any additional money. To ensure you get the maximum deduction commission a quantity surveyor’s report on your investment property.
 
5. Pay up superannuation
If you are self-employed or employed by your own company, paying into your superannuation before the end of the financial year can be an effective way to minimise tax.
 
6. Cash is king
Lodging your tax as early as possible will help ensure your receive your refund sooner, therefore resulting in a boost to your cashflow.
 
7. Engage an expert
To get the most out of your return we recommend investing in an accountant who specialises in property investment.
 
8. Plan for the year ahead
Now you have done all the hard work why not take the time to sit down with a property advisor and plan the year ahead. Are their opportunities to build your portfolio? Could a renovation help you achieve a higher rental income?
 
Cameron Deal is the founder of Melbourne buyer advocate and property advisory company <a href="https://www.infolio.com.au" target="_blank">Infolio Property Advisory</a> 
For <a href="http://propertyobserver.com.au/ebooks/free-ebook-top-21-tax-strategies" target="_blank">more end-of-financial-year tax strategies, download our free eBook.</a>
 
 
 
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The apartment feature many buyers don't think about, until their first missed delivery

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New apartments

New townhouses

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