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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Both major capital city auction clearance rates continued to secure sales within the narrow band of recent weeks.
But the more comprehensive the auction results, the lower the clearance rate.
In Melbourne the Real Estate Institute of Victoria reported a weekend clearance rate of 62% on initial results.
It was up on the downwardly revised 60% success rate of the prior weekend, which had been initially reported as 63%.
There were 529 auctions reported to the REIV, with 327 selling and 202 being passed in, 128 of those on a vendor’s bid.
Some 50 results remain unreported across Melbourne.
The <a href="https://www.propertyobserver.com.au/auctions/two-bidders-with-deep-pockets-vied-for-magnificent-fitzroy-north-home-in-auction-tipping-competition/2012052054760" target="_blank">highest sale was $4.2 million in Fitzroy North</a>.
Next week the REIV estimates 670 auctions will be conducted followed by 660 in a fortnight.
Sydney's clearance rate was 57.8% according to Australian Property Monitors.
The prior weekend's revised rate was given as 59.4%, which was also revised down on the initial 61.8% Saturday night clearance rate.
 
 
 
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Chased-up unreported results dragging final clearance rates lower than initial highs

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A new office trust has been launched by Charter Hall giving high-net-worth investors and self-managed super funds (SMSFs) the opportunity to invest in a tax-advantageous A-grade Perth CBD office building, with yields of 9% promised.
The trust, known as the Charter Hall Direct 144 Stirling Street Trust, is made up of a single asset, the Hatch Building at 144 Stirling Street on the northern fringe of the Perth CBD.
The property is a recently constructed 11,0000-square-metre A-grade office building on a corner site with four street frontages and parking for 250 cars.
Engineering and consulting group Hatch is the key tenant and recently reviewed its lease for a further 10 years.
The trust aims to provide investors with sustainable and stable, tax-advantaged income and the potential for capital growth through investment in the Hatch building.
Charter Hall Direct is forecasting a first year income yield of 8.85%, growing to over 9% during the life of the Trust.
According to trust manager Charter Hall Direct Property, the unlisted property funds arm of the ASX-listed Charter Hall group, the trust has been launched in response to growing demand for investment opportunities in the Perth CBD.
Head of Charter Hall Direct Property Richard Stacker says advisers and investors are looking for alternative investments that have a return profile that is less correlated to equity markets and other asset classes.
“The growing spread between term deposits and direct property, which currently sit at around 3% to 4% after the recent lowering of interest rates, means SMSFs are very attracted to the yields on offer in direct property.”
Stacker says investors are looking to commercial property to enhance their overall portfolio returns. "We are currently in one of the best buying cycles since the mid-1990s and investors who understand or are being advised by people who understand property cycles are taking full advantage of this. "Investors need to be selective on the markets and property sectors they invest in. For example, in the resource based states commercial property markets are expected to outperform given the current climate and strong employment growth prospects.
“The new trust is one opportunity for retail investors and SMSFs to benefit from the resources boom, employment growth in Western Australia and what we expect will be strong continued demand for high quality office space over the medium term," he says. Stacker says 80% of Charter Hall Direct Property's equity flows are coming from SMSF investors and it is a segment he expects to see more growth from over the coming years. Minimum investment in the trust is $50,000. For end-of-financial-year tax tips for property investors, <a target="_blank" href="/news">sign up for our free webinar on Wednesday, May 23 at 12.30pm</a>.
 
 
 
 
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New office trust to provide ‘tax-advantaged’ income and yields of 9% to investors and SMSFs

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Australia is not suffering from a nationwide undersupply of housing, according to Rob Sindel, chief executive of building products group CSR.
"I think that some of the forecasts that we've previously seen around 180,000 and 200,000 housing starts a year being underlying demand, I don't believe those because they were predicated on the basis of household formations, the number of people living in a house shrinking. That hasn't come to pass. We've actually seen that number start to turn the other way, " Sindel told the ABC’s Inside Business program.
“[The number of people living in a house has] started to go up after falling for a number of years,” Sindel said.
“What you've got is you've got shortages in certain places. You've got shortages in NSW, you've got shortages in south-east Queensland. You've got a shortage in Western Australia.  “You don't have a shortage in Victoria. And it's often driven by land shortages, it's driven by a number of factors. So I think it's very hard to categorise the Australian market as just one market. There is a series of undermarkets,” he says.
Sindel warns that the current dip in housing construction is looking like being a much longer affair than dips experienced during the 1990s, which he says “were six or eight months then you could see your way through the other side”. “This time I think we had the dip, we had the stimulus, and now we've dipped again on the basis- and I think people are very fearful about what's happening in Europe and we've got a lot more information through the media.
“So people are putting off those big decisions like buying a house and so you're seeing a much, much more drawn-out recovery,” he says.
CSR estimates that total housing starts in Australia will fall to about 140,000 in the year to March 2013, down from the 148,300 in 2012.
Last week CSR reported that net profit fell to $76.3 million in the year to March 31 from $503.4 million the previous year.
Trading revenue fell to $1.8 billion from $1.9 billion.
"Excluding the global financial crisis and the introduction of the GST, this represents the lowest level of housing activity in the past 15 years," CSR said in a statement.
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No Australia-wide housing shortage: CSR’s Ross Sindel

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A Victorian pavilion-style house – mostly hand-built from raw materials including recycled spotted gum and blackbutt posts – has won the 2012 HIA-CSR Australian Home of the Year in the HIA-CSR Australian housing awards.
<img src="/images/stories/hiahomeofyear1.jpg">
The winner – located at Red Hill South on the Mornington Peninsula – was selected from a list of state-based finalists.
F &amp; J Sanders Builders Pty Ltd took out the top award, winning the 2012 HIA Australian Home of the Year.
It also won the award for the Australian Custom-Built Home of the Year in the $1 million-plus category.
The judges were impressed with the pavilion-style house, noting its mix of energy efficiency and luxury.
Spread over three levels, the home has expansive open plan living, with polished concrete flooring throughout.
<img src="/images/stories/hiahomeofyear21.jpg">
There are four bedrooms with balconies, study, rumpus room, four bathrooms plus a separate powder room, plant/service room, three-car garage and outbuilding.
There is a large undercover barbecue pavilion with in-ground pool.
The judges concluded the design of the home allowed it to feel light and airy, especially as open windows maximised the views.
Its energy and environmental features included state-of-the-art sustainable technologies allowing it to be virtually self-sufficient.
It came with geothermal technology along with LED lighting, a sewage treatment plant, three 86,000-litre concrete water tanks, solar hot water, and 4.7kw solar panels.
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Mostly hand-built Mornington Peninsula home takes out top gong at HIA-CSR awards

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International brands like Zara and Apple have helped drive shoppers back to Westfield shopping centres and drive up sales among mini-major retail tenants, according to the latest quarterly update from the shopping centre group.
Turnover in the mini-major category, which includes Zara and Apple along with the likes of JB Hi-Fi, Dick Smith and Priceline, was up 2.7% for the year to March and 4.3% for the first three months of 2012, according to March quarter results filed by Westfield Retail Trust (WRT), the spin-off entity that manages the $13 billion portfolio of Australian and New Zealand shopping centres.
Over the quarter sales among mini-majors grew at nearly four times the rate of total speciality sales across Westfield’s Australian portfolio (1.1%) and more than double the 1.2% growth achieved over the year to March.
“Retailers such as Apple and Zara demonstrate the success that can be enjoyed through an exciting and engaging retail experience. These mini-majors are proving to be great destinational retailers,” said Westfield Retail Trust chairman Richard Warburton in his address to shareholders.
Warburton says Westfield centres are continuing to “evolve and adapt to the environment and new retail trends”. 
<img src="/images/stories/westfieldpittst.jpg">
“Innovative dining precincts, expanded retail services, new market entrants and larger-format stores are examples of this,” he adds. 
Zara opened its 1,800-square-metre store in Westfield Sydney on Pitt Street mall in April last year – its first store in Australia.
A new Zara store is planned at Westfield Doncaster for later this year.
There are Apple stores in Westfield Doncaster and Westfield Southland in Melbourne, Westfield Chermside in Brisbane and Westfield Hornsby in Sydney.
According to the quarterly results, cinema tenants are also performing much more strongly, with sales rising 9.3% for the first quarter of 2012 to be up 4% for the 12 months to March 2012, <a target="_blank" href="https://www.propertyobserver.com.au/news/westfield-cinemas-struggling-perhaps-due-to-pricey-popcorn/2011081751194">reversing a trend of declining sales</a> reported last year.
The decline in department store sales appears to be bottoming out, with sales at the likes of Myer and David Jones down 0.2% for the quarter compared with a 5.2% decline in turnover for the year to March.
Discount department store sales (Kmart, Target, Big W) fell 2.5% over the quarter, with jewellery stores (3.7%) and footwear retailers (1.8%) also performing poorly.
Click to enlarge
<a href="/images/stories/westfieldmay21.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/westfieldmay21thumb.gif"></a>
 
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The impact of international stores in driving retail sales was noted recently by CBRE retail services associate director Max Cookes.
Cookes says international retailers have helped Melbourne retain its mantle as one of the strongest-performing retail markets in the country. 
“The recent level of enquiry we have received from international retailers has been stronger than this time last year,” says Cookes.
“Over the past 18 months, we have successfully reached agreements with Zara, Topshop, Paul Smith and Thomas Pink, who have all opened flagship locations in Melbourne.”
According to the WRT update, speciality Westfield rents increased 3.1% for the 12 months to March 31.
Speciality sales were strongest in Westfield’s Victoria shopping centres rising over the first three months of the year 3.1% to be up 4% for the 12 months to March 2012 compared with the previous 12-month period.
In comparison NSW speciality sales were up just 0.3% and down 0.6% for the year.
The second strongest performing state was WA, with Westfield centres recording a 2% rise in speciality sales for the quarter, accelerating from just 0.6% growth for the 12 months.
Speciality retail sales generate over $9,700 per square metre in Australia, and over NZ$8,200 per square metre in New Zealand with the portfolio remaining above ensures continued demand for quality retail space with the portfolio remaining above 99.5% leased.
In February, the trust reported comparable net operating income growth up 4.3% in the year to December 2011 attributed to “the strength, quality and resilience of the property portfolio”. 
Over 2011 Westfield signed over 2,800 lease deals covering more than 375,000 square metres of retail space. 
Westfield Retail Trust managing director Domenic Panaccio says Westfield Sydney sales continue to grow strongly across all categories, with the luxury precinct and food retail performing well. 
“Customer traffic also continues to grow. The Westfield Sydney and Sydney Central Plaza precinct is the most productive centre in the trust’s portfolio from a specialty sales perspective and we are extremely pleased with our flagship asset,” he says. 
Panaccio says the Westfield Sydney project is now complete, with the $1.34 billion Westfield Sydney Facility repaid. 
The trust also reconfirmed that distributable earnings and distribution in 2012 are forecast to be 18.75¢ per stapled security.
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Zara, Apple and reviving cinemas among best-performing Westfield tenants

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Newcastle pubs have proved popular with Sydney investors, with both Newcastle offerings selling at a yield of 7.9% as part of an auction of seven ALH pubs in Melbourne on Friday.
Although the auction was well attended, there were few bidders at the auction at Melbourne’s Crown Casino, with four of the pubs passed in despite the best efforts of auctioneer David Scholes and the placing of a number of vendor bids.
Bidders appeared intent on securing bargains and yields of around 9%, with initial bidding on some of the pubs starting at well below the price suggested by Scholes on behalf of vendors.
<img src="/images/stories/dubbotav.jpg">
At one point, with bidders unwilling to meet the $12 million to $13 million starting price for the biggest property in the portfolio, the 4,100-square-metre Macquarie Inn Hotel and Dan Murphy’s in Dubbo (pictured above). Scholes tried to whip up interest by reminding them that fugitive Malcolm Naden was no longer hiding out at the nearby White Plains zoo.
“You can rest easy. He’s been captured,” Scholes said.
All seven pubs were auction with new 20-year leases (with five renewal options of 10 years each) to pub operator ALH and are 75% owned by Woolworths and 25% owned by private hotelier the Bruce Mathiesen Group.
<img src="/images/stories/doncastertav.jpg">
Despite pre-auction interest, the prized asset, the Cherry Hill Tavern Hotel and BWS bottle shop (pictured above) sitting on a 9,100-square-metre site near The Pines Shopping Centre in the affluent Melbourne eastern suburb of Doncaster, failed to sell.
Agents expect the 1,900-square-metre building, which includes an alfresco dining room and TAB gaming bar a well as a “thriving BWS bottle shop”, to sell post-auction
<img src="/images/stories/jewells.jpg">
The Jewells Tavern and BWS (pictured above) on the corner of Gradburn Parade and Gurdie Street in Newcastle was the only property to meet the reserve and sell at auction.
It sold for $5.821 million, just above the vendor bid of $5.82 million following a bidding contest between the eventual Sydney winner and a Melbourne buyer.
Having undergone a recent $865,000 refurbishment, the 1,000-square-metre brings in net rent of $460,000 per annum and sits on a 5,700-square-metre site adjacent to the Jewells Town Plaza Shopping Centre.
 
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<img src="/images/stories/charlestown.jpg">
The Mattara Hotel in Charlestown in Newcastle (pictured above), with net rent of $415,000 per annum, sold prior to auction for $5.25 million on a 7.9% yield.
<img src="/images/stories/caboolture1.jpg">
The Club Tavern and BWS on Beerburrum Road in Caboolture (pictured above), with net rent of $600,000 per annum and situated 41 kilometres north of Brisbane, sold post-auction on a yield of 7.9%.
Also selling post-auction was the Granada Hotel and BWS in Berriedale in Tasmania. There were four bidders on the property, with the winning bidder ($3.3 million) having the first right to negotiate with the vendor.
The pub eventually sold for close to the winning bid price on a yield of around 8%. It is located directly opposite from the $80 million MONA museum, the top tourist attraction in Tasmania.
The Westower Tavern, BWS and Dan Murphy’s on the Pacific Highway in Ballina, with annual net rent of $730,000 and across from the Big Prawn redevelopment, was passed in with a series of low bids not accepted.  The vendor is seeking around $10 million for the property, which measures 2,300 square metres.
The seven properties were marketed jointly by Burgess Rawson agents Billy Holderhead, Raoul Holderhead, Simon Staddon and Pat Kelly alongside Scott Callow, Daniel Dragicevich, Joel Fisher and Craig Harley from CBRE Hotels.
For end-of-financial-year tax tips for property investors, <a target="_blank" href="/news">sign up for our free webinar on Wednesday, May 23 at 12.30pm</a>.
 
 
 
 
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Newcastle ALH pubs sell to Sydney investors on 7.9% yields but Doncaster’s Cherry Hill tavern passed in

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Whether you are buying or selling real estate the importance of property inspections is paramount in a smooth transaction.
Not being prepared can lead to last-minute disruptions in a sale or purchase and cause major headaches to all parties involved.
For a buyer, a pre-purchase building inspection report (whether it is for a house, a strata unit or a company title unit) is used to ensure that the property is in good condition and does not have any major defects that may affect the property’s value or cost money to rectify in the future.
For a seller, providing a pre-sale building report (including a pest report if necessary) is always a good idea. It demonstrates transparency and honesty on the seller’s behalf and means that prospective buyers don’t have to order and pay for one separately, often at the last minute. Some buyers may still wish to request an independent report, but that is their decision.
There have been cases where the seller has provided the report in the contract of sale as an annexure and included a condition that the cost of the report should be reimbursed by the purchaser. This seems a bit miserly to me. What the seller should do is concentrate on achieving a good sale price through a smooth exchange of contracts and write off the relatively low cost of a building report. The benefits of providing the report in advance far outweigh the outlay involved, so it should be included at no charge.
For buyers it is critically important that they request an inspection report (if one is not already available) as soon as possible once they are interested in a particular property. The process can take two to four days, during which a physical inspection or inspection of strata or company title records is finalised.
I have seen many cases where the successful purchasers of a hot property among several interested buyers were the ones who first obtained their inspection report. Once they were satisfied that the property had no major defects they took the plunge and exchanged contracts.  It often comes down to a race between who gets the report first and is willing to go ahead, not who will pay the highest price.
Legislation in NSW provides a five-business-day cooling-off period from the time of exchange of contracts until the exchange becomes unconditional at 5pm on the fifth day. This short period can be used to obtain a building inspection report, but it is cutting it very short.
In the case of auction properties it is particularly important for buyers to have already ordered a building report they are happy with before they bid successfully on the day (or exchange contracts on the same day after it is passed in).
In summary:
<ol start="1">
<li>Sellers should attach a current inspection report to the contract of sale (and provide it free of charge).</li>
<li>Buyers should be aware of the importance and urgency of obtaining or viewing an existing inspection report before purchasing a property by private treaty or at auction. </li>
</ol>
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
 
 
 
<ol start="1"></ol>
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The importance of building inspections in property transactions

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Professional investors understand that you can’t outsmart the market. It’s a lesson worth remembering if you’re looking at refinancing a loan with a fixed-rate loan.
Some borrowers have legtimate reasons to want fixed costs of capital. But there are other types of borrowers who believe that they will gain an advantage by taking a fixed rate loan.
We saw this happen in March when, according to the Australian Bureau of Statistics, the number of fixed-rate mortgages soared to 14.5% of the total mortgage market, the highest ratio since May 2008.
A flat economy (in the southern and eastern states), and a pause on official interest rate movements, pushed many Australians into the “safe” option because banks were offering fixed rates about 0.5 percentage points under their variable rates.
But the large numbers of borrowers refinancing into a fixed-rate loan in March were not to know that the Reserve Bank, on May 1, would cut the cash rate by 0.5 percentage points. They didn’t gain advantage at all.
Mortgage holders are generally best served by the variable-rate system, because you are following the market price of mortgages and you can operate with the same basic information available to everyone.
To find the best deal on a variable-rate loan, go to a comparison web site and look at the “comparison rate” column.
Then, focus on the loan margins. Start with your own variable home loan rate and subtract the cash rate, which you can find at the Reserve Bank’s home page.
So, if your loan is 6.75% and the cash rate is 3.75%, the margin you are paying is 3%.
Now, look at another lender’s variable rate. If they have a loan at 6.25%, then the margin they are charging is only 2.5%.
By thinking in terms of the loan margin, you get a better feel for the market.
The best part about variable rate loans is that while a fixed rate locks you in for a term, variable rate loans are flexible; lenders cannot charge exit fees when a borrower leaves a home loan, so there is no penalty for refinancing.
Refinancing is certainly worth it. Say you have a home loan with a bank and have a current variable interest rate of 6.99% on a $350,000 loan. You look around and decide to refinance to a 5.99% loan.
The savings in that one percentage point would be $59,223 over the life of the loan. If you refinanced and kept your repayments at the same rate as your repayments in the original loan, you’d actually save $129,143.
Some people are not comfortable researching the mortgage market, and for them I recommend expert advice in the form of a mortgage broker.
It doesn’t matter how you come to refinance, the trick is be informed and to be prepared to act. In most cases, the lender you are leaving will try to reduce you interest rate to make you stay.
It’s nice to feel wanted!
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
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Refinancing your home loan is usually worth it

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Two huge auctions finished off the autumn season of <a href="https://www.propertytycoon.com.au" target="_blank">Property Tycoon</a>, a tipping website where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/albertcres.jpg">
At 39 Alfred Crescent, Fitzroy North (pictured above), a huge crowd of around 300 people looked on as two punters with deep pockets went toe to toe for almost half an hour and placing around 200 bids. When the bidding stopped the property had sold for $4.2 million.
The property was declared on the market at $3.55 million, so the vendor has netted an extra $650,000.
<img src="/images/stories/crownst1.jpg">
In Sydney the auction of 29/500 Crown Street, Surry Hills (pictured above) yielded a similar result. The uniqueness of the penthouse apartment drove two buyers to dig deep as the bidding stretched into extraordinary levels. The property finally sold for $1.6 million after initially being quoted at $1.2 million plus.
 
 
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Two bidders with deep pockets vied for magnificent Fitzroy North home in auction tipping competition

<html><body>Australian Property Monitors (APM) has released a list of results from 287 auctions in Sydney for the weekend of May 19. The clearance rate was 57.8%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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