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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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The ANZ has announced it will reduce its variable rate by 0.37 percentage points to 7.05%.
Joining other lenders following last week's rate reduction by the Reserve Bank, it hasn't passed on the full rate cut.
The new mortgage rate will be effective from May 18.
 
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jchancellor-FAypfDUnLy

ANZ finally reduces rates by 0.37 percentage points to a variable rate of 7.05%

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In an interview a few weeks ago, Sky's Peter Switzer kindly introduced me as a "great friend of the RBA". In light of the many criticisms I have aired over the years, I couldn't help but laugh at this characterisation. I subsequently mentioned it to an RBA executive. Almost as amusingly, this person retorted: "yeah, 60% of the time."
Unfortunately, today may be one of those '40 percenters'. What I am going to write about you will likely never read in an Australian newspaper. The journalists in question cannot report on these issues for fear of breaching confidences given to their sources.
Because I have one foot directly in financial services and another in the media as a public commentator, I am a little different. Unlike most other RBA watchers, I never speak to the bank, its board, or its political masters about monetary policy. I don't get the benefit – or, as we shall see, suffer the costs – of receiving the all-important private telephone and in-person briefings that senior correspondents secure after important RBA statements, and before major decisions.
I do speak to the bank about abstract policy issues, such as whether they should use interest rates to lean against asset prices, or technical data matters, like how house prices movements should be measured.
I've also asked the bank to set me straight if I ever make an objective mis-step. As one example, the bank has a habit of frequently emphasising the "mid-point" of its 2% to 3% per annum inflation 'target' as its policy goal. I've previously written that this can lead one to infer that the RBA's 'implied' inflation target is actually a more specific 2.5%. Core inflation outcomes materially above or below this point estimate could, therefore, be judged as misses.
It was, however, pointed out to me that Guy Debelle and Glenn Stevens had published a paper in 1995 arguing that the RBA's monetary policy aim is a deliberately "thick point", or wide, band most accurately described as "two point something". It is not an artificially precise 2.5%.
Long story short, anywhere in the band satisfies the inflation objective because the RBA knows that it cannot over-engineer its inflation targeting outcomes – the standard errors associated with its forecasts are just too high. That, by the way, is one reason why there is nothing wrong with consistently punching out 2% per annum core inflation, as is currently the case. (Most developed world central banks consider 2% normal.)
The motivation for today's remarks derive from questions I received last Friday. A senior interest rate trader asked me what I thought the RBA's closely-read Statement on Monetary Policy might say (it was to be published that day). I felt the lethargy mount inside me before I mustered a shallow response. All I could offer was, "dovish mate – they've gotta rationalise the 50 points, ex post facto." But then I quickly added that I had not thought about it much.
After the Statement came out – which was dovish – Aussie government bond prices jumped a bit. Another experienced market participant called me and queried my views. I said I hadn't even read it aside from a quick glance at the housing section, which was in line with my priors (ie, the RBA is pushing a stabilisation meme, now couched as a deceleration in house price losses). I said I'd get back to him when I had some thoughts (I still don't).
Over the weekend I started reflecting on why I had so little interest in what is supposed to be the RBA's premier publication. It slowly dawned on me: it was more-or-less meaningless for rates. It would be part exercise in justification of a decision the RBA staff did not recommend, and part hazy and contradictory glimpses of their view of the world.
Rather than telescope in on a central set of projections that the staff actually believed in, the chastened executives would likely be obscuring any sharper messages with insurance and obligatory acknowledgements of how they had purportedly 'misread' the economy. (Yesterday's 4.9% unemployment print combined with the low core inflation over the last three quarters tells us that the RBA had, in fact, set monetary policy almost perfectly.)
As it transpired, the RBA did indeed make its views even fuzzier in this particular Statement by more-or-less giving up on forecasting. The projections the RBA delivered for year-ended GDP growth and core inflation were so wide that any real-world results at the limits of these ranges could have diametrically different consequences for policy. Beyond a year or so, the RBA has now formally embraced Glenn Stevens's 'first rule of forecasting': don't forecast; or, if you do have to forecast, hedge your bets.
My main idea before the last RBA board meeting was that no matter what happened we would learn a lot about how the Bank thinks and operates. You see, after the stunningly low first quarter inflation numbers, the RBA's 50-basis-point cut was not a surprise, per se.
Before the inflation data, I had published a 'cheat sheet' with a table claiming that if core inflation came out at 0.3-0.4% one could expect the RBA to cut by 25-50 points. I also quickly attached a 40% probability to 50 basis points after the release. And by the time the board meeting came around, the financial markets had converged to roughly this same estimate.
To be sure, 50 basis points before the CPI release was very low probability. Only one person in Australia was pulling for it: Stephen Koukoulas (or "Koukie" to friends). And with the benefit of hindsight, Koukie made a majestically timed call. The only wrinkle is that he had also called 25 and 50 basis point cuts in February and April too. So May was more about getting the medium term right, although this week's unemployment data arguably call this into question.
The surprising thing about the RBA's May meeting was that the senior staff only recommended 25 and went to considerable lengths to resist a larger cut. The surprise was that the once all-controlling RBA executive had again had their central recommendation--which would have been strategically hedged--rejected by the RBA's dovish, and increasingly powerful, board.
That's what happens when the "insiders" hold only two of the nine board seats, stakeholders with a vested interest in lower rates dominate all the others, and when the governor is an open-minded consensus builder who has hitched his legacy to enhancing governance and transparency.
On the morning of the board meeting, a very senior economics correspondent for Fairfax, Peter Martin, published the following remarks in the <a href="https://www.smh.com.au/business/former-rba-boss-calls-for-50point-rate-cut-20120430-1xv4c">Sydney Morning Herald</a>:
"The staff recommendation sent to board members on Friday is believed to recommend a cut of 25 points, arguing that the economy is not weak enough to demand anything larger and that rates can be cut again if needed."
As a seasoned journalist with impeccable RBA and Treasury contacts, Martin would never make this statement unless he believed it to be true on the basis of a primary source. The day before, David Uren, another senior and instinctively cautious senior economics correspondent with The Australian, offered <a href="https://christopherjoye.blogspot.com.au/2012/04/uren-australian-people-speculating-on">these predictions</a> on both what would happen at the meeting, and, more curiously, what specific GDP growth numbers the RBA's Statement on Monetary Policy would include:
"People speculating that the Reserve Bank may cut by 50 basis points tomorrow are hyperventilating. The downgrade in the bank's growth forecast is unlikely to be dramatic. National Australia Bank's business survey shows conditions are still in line with the long-term trend and unemployment has remained steady for about two years. The March quarter inflation report was soft, but there is nothing to suggest that the economy is entering a recession. The Reserve Bank's monetary policy statement, which will be published on Friday, will still show growth over 2012-13 of at least 3 per cent. The bank will not be badgered into repeated slashing of rates by those parts of the economy that are on the wrong side of the structural change which the high value of the Australian dollar is forcing. It is unlikely that the bank judges that its cash rate is far from where it needs to be."
Like Martin, Uren would likely never write this and, more pointedly, dismiss the prospect of a 50 basis point cut, unless he had been guided by the RBA staff to do so. While he obviously got the rate call wrong, he was, perhaps unsurprisingly, spot-on with his even more difficult-to-anticipate Statement on Monetary Policy forecasts. Of course, the RBA staff determine the numbers included in the Statement without interference from the board in contrast to the cash rate decision.
Just as the staff are inclined to advocate their positions via preferred media proxies (universally accepted as a common, if awkward, practice), it's possible that some of the seven remaining board members do so too. This may be the reason why News Limited's leading columnist, Terry McCrann, (confidently) missed the RBA's February and April decisions to pause. At both meetings, the staff evidently managed to hold the line against a board agitating for rate relief.
But in May, McCrann was uncannily on-the-money well before any other analyst, or the market, save Koukoulas. On April 25th, after the CPI report <a href="https://www.heraldsun.com.au/business/terry-mccranns-column/rba-set-to-drive-interest-rates-down/story-e6frfig6-1226337531317">but a week before the board meeting</a>, Terry called a 50 basis point cut yet went one step further to, remarkably, describe a standard cut as a "most unlikely circumstance." Terry's smart, but he's not that smart. I am guessing that the reason he could effectively rule-out 25 is because either someone on the board (likely), or someone at the bank (unlikely), told him it wasn't going to happen:
"TWO things are now absolutely beyond doubt. There will be an official interest rate cut next Tuesday, and the official rate will be cut by at least 50 points over the next five weeks. Somewhat less certain, is when the 50 points will be delivered. I suggest in one hit on Tuesday. But in the most unlikely circumstance that Tuesday turned out to be only 25 points, that would simply make a further 25 points absolutely certain at the next Reserve Bank board meeting in June."
On April 29 McCrann <a href="https://www.heraldsun.com.au/business/terry-mccranns-column/tough-budgets-will-be-the-best-medicine/story-e6frfig6-1226341633444">affirmed this projection</a>:
"ON Tuesday, the Reserve Bank will cut its official interest rate...It should start with a 50-point cut and I suggest there's a better than even chance it will."
Now just think for a moment. If it is possible for this information to leak out from the RBA's board, and from senior staff, is it conceivable that there are folks around the world who might seek to profit from it? I would venture so. Indeed, there was some rather unusual trading on the day of the RBA's last meeting.
At exactly the same time the RBA board meeting finished – at 12:30pm – through until the time the policy decision was announced at 2.30pm, the Aussie dollar commenced a slide from circa 1.0422 US cents to as low as 1.0388 cents. There was also a slightly odd spike in 3 year government bond prices, which directionally has the same meaning (Koukoulas tweeted about it), although they pulled back on low volumes just before the release. Maybe it was noise. Maybe not. I honestly don't know.
Bruce Kovner, the founder of one of the world's biggest and most successful hedge funds, Caxton Associates, has said that in the 1980s the best traders of currencies were the Russians because of the KGB's ability to pick up economic intelligence. We have many private companies with intelligence gathering capabilities, and foreign intelligence agencies, functioning in Australia today. It is well documented that soucing non-public economic intelligence, and pro-active industrial espionage, are one of the key aims of any sovereign intelligence entity, including Australia's. I am not saying anything more than that.
As a hypothetical, you've got a full two hours between the 2:30pm release date and the time when seven of the nine RBA board members drift out from its Martin Place headquarters to monitor communications and collect one solid indication of what might have happened. The RBA takes precautions, of course, including sweeping its board-room for bugs. But if you are successful, you could make tens, if not hundreds, of millions of dollars. It is hardly unimanginable. The technology certainly exists. The self-interest is a given.
With this in mind, I would note that Dow Jones's Enda Curran highlighted this ABS <a href="https://www.abs.gov.au/websitedbs/IRDB.NSF/mediareleasesbyCatalogue/EC06EFA1958DD01DCA2579F7001CC6DB?Opendocument" target="_self">media release</a> during the week revealing that the surprisingly strong, and price-sensitive, retail trade data had been leaked to six clients 20 minutes before it was communicated to the market. One assumes this was just a technical glitch.
I have regularly hammered on about the wealth-destroying biases ingrained in our saving system's asset-allocation decisions and the manifold unpriced taxpayer subsidises bequeathed to our too-big-to-fail banks. Yet remedies appear hard to implement when even the nation's political leaders argue in private that the bureaucracy is pathologically resistant to change.
Christopher Joye is a leading financial economist and a director of <a target="_blank" href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
 
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chrisjoye-JYhJsTrNRC

The RBA’s secrets still surprise some of us: Christopher Joye 

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Kubba Roonga, the Blue Mountains guest house where Sir Donald Bradman took Jesse for their 1932 honeymoon, has been listed for sale.
It’s a rambling 1915 Blackheath guest house now with seven ensuited bedrooms.
Normally associated with Bowral, Australia's most famous sportsman had a soft spot for Blackheath, having knocked up his fastest century – off 22 deliveries – at the local cricket oval shortly before his 1932 stay.
<img src="/images/stories/kubba1.jpg">
Kubba Roonga has a AAA fours-star rating.
Set about 120 kilometres from Sydney, Kubba Roonga sits on 1,315 square metres of English-style gardens close to the spectacular Grose Valley.
The house has open fireplaces, polished timber floors, and stained glass windows. There’s a commercial kitchen and restaurant dining space for house guests.
Ray White Blackheath agent Peter Torok has it for July 1 auction, along with the adjoining 695-square-metre Arcadia Road property, which after its 1915 construction served as the manager’s cottage.
The guest house is tipped to fetch more than $800,000 and the manager's cottage more than $380,000.
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Kubba Roonga, Sir Donald Bradman’s Blue Mountains honeymoon destination, listed

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A 1913-built Art Nouveau backpackers' hostel in Melbourne has sold for $10.75 million with an expected yield of more than 8%.
Previously known as the Sir Charles Hotham Hotel and the Hotham Private Hotel, the building on the corner of Flinders Street and Spencer Street was first listed for sale by the vendor in June 2010.
The property, 2-8 Spencer Street and 566-580 Flinders Street, last sold in 2006 to Australian Budget Accommodation Group for $6.15 million when offloaded by the Ivany family.
Current tenants All Nations Backpackers Hostel have a lease until 2018, after which the marketing suggests there will be redevelopment potential for the site.
The corner block has a land area of 883 square metres with a 20.9 metre frontage to Spencer Street and 40.2 metres to Flinders Street.
Property Observer understands the buyer is associated with private investor Peter Russell's Kurrawonga Pty Ltd, which was last in the news when it secured the London &amp; Lancashire Building at 400 Collins Street for $7.5 million in 2009.
A Malaysian investor had been tipped to buy the property for $12 million in February this year but backed out after undisclosed issues.
Kliger Wood agents Russell Meerkin and Grant McKenzie had marketed the property for $12 million last November.
The current net annual rental is $885,586.
“The building is an older style Art Nouveau style four level and part five level structure which has three retail tenancies including a Seven Eleven store, a café and an entertainment facility on the street frontage with the upper levels and part of the ground floor including a bar and reception area are conducted by Nomads Backpackers,” Meerkin says.
“Most of the leases have further periods to run and allow annual defined rental increases and in most cases options to renew.”
When the hotel was first erected the daily press described as one of the largest in the city.
“The location commands the shipping trade, adjacent to wharves and Spencer Street Railway Station, Harbor trust offices and Railways Offices, fish market- proposed improvements to bring mail and other large freight right up to the City- all to benefit the hotel.”
“It includes cellar, ground floor with large public bar, private bar, billiard room, four bar parlours and offices; three storeys and open flat on roof; first floor has large dining room, and services, drawing room, reading and smoking rooms, nine bedrooms with linen press, bathrooms and lavatory accommodation; second floor has private sitting and dining rooms, bedrooms servants bedrooms and facilities; third floor has 14 bedrooms, servants dining room, modern kitchen; cellar one of the largest and best in Melbourne; passenger and goods lifts, electric lighting.”
Heritage documents say the building is a well preserved example of Edwardian Freestyle architecture in Melbourne.
“Sir Charles Hotham Hotel is significant architecturally as a large, well-preserved and successful corner hotel design in the Edwardian Freestyle, by the important architect William Pitt, and is a major part of a notable Edwardian and late Victorian-era commercial streetscape in both Flinders and Spencer streets, consisting mainly of hotels,” Australian cultural heritage consulting firm Graeme Butler says.
“Historically, Sir Charles Hotham Hotel is significant for its location with other Edwardian-era and late Victorian-era hotels near the wharves and railway that served them, underscoring the major means of travel at that time. The new Sir Charles Hotham Hotel was built during the state's economic recovery after the Great Depression of the 1890s and remains the largest Edwardian-era hotel built within the Central Business District.”
 
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awalsh-7Ub9EypybQ

Art Nouveau backpackers' hostel on Spencer Street sells for $10.75 million

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<a href="https://www.propertyobserver.com.au/trends/seven-wealth-myths-that-hold-you-back-michael-yardney/2012050354553" target="_blank">In a previous article</a> I explained despite living in a land of plenty, the sad reality is that the majority of Australians will never achieve financial freedom. On the other hand, a small group of Australian property investors are becoming very wealthy in property. 
Today I continue exploring the common money myths that hold many people back from achieving their financial goals.
Myth #8: The rich are lucky 
The truth is that success in wealth creation is no more about luck than is success in anything else in life. To become wealthy you have to be in control of your finances and not count on good fortune. When you have a proven investment system or strategy, luck becomes unnecessary. 
As a child, I used to play Monopoly: Sometimes I won, sometimes I lost. 
As an adult, I’ve played Monopoly a couple of times with some financially intelligent people and I realise now that, contrary to what I thought when I was young, it’s not a game of luck. 
Good players know the right spots on the board to get the best return on their investments. They know how to acquire and control the best “monopolies” in order to collect the highest rents. They’ve learned to negotiate and find ways to make great deals. They’ve learned how to take the luck out of Monopoly and consistently win big as a result. 
To me, this sounds a whole lot like the real world of investing. You need to learn how to take the luck out of wealth creation and instead develop smart strategies to get ahead. First you need to learn how to play the game, and then you need to know how to win the game. 
Myth #9: To become rich you must diversify 
Wrong! Yet that’s what most financial planners suggest, isn’t it? Diversification leads to an average outcome. I’ve found that successful investors don’t diversify; they cultivate the skills required to make better, smarter investing decisions and specialise in one niche.
 
Myth #10: Paying off your house provides security 
This is one of the old myths many of us learned from our parents, who probably learned it from their parents. But it doesn’t make sense in the new financial era. The problem here is that once you’ve paid off your house, you end up with idle equity sitting under your roof doing nothing; equity you could use as a deposit to buy an investment property and grow your wealth. 
Myth #11: All the good investments are taken 
That’s not true - opportunities are always out there - in every market. Sometimes there are a lot and sometimes there aren’t. Some are obvious and others are opportunities you create by understanding investment markets. Sure, all of yesterday’s deals have been taken, but tomorrow’s deals have not. Someone will snap them up. Why shouldn’t it be you? 
Myth #12: If you want to do it right, you have to do it yourself 
There’s no such thing as a self-made millionaire. All successful property investors have a good team of professional advisors and supportive mentors around them. 
That doesn’t mean you should hand over full responsibility for your wealth creation to others. But the rich recognise they can’t have expertise in all aspects of wealth creation, so they find a team of experts they can lead in order to help them achieve their goals. 
Myth #13: I’ve done everything wrong! It’s too late 
It’s never too late to learn how to invest or to overcome your mistakes. There are many success stories of people who conquered all sorts of adversity, or started investing later in life and ended up achieving financial freedom. In fact, Ray Croc was over 50 years old when he built his very first fast food outlet. You might have heard of it – it’s called McDonald's.
Myth #14: Debt is bad 
Most Australians believe debt is a dirty word, but not all debt is bad. Savvy property investors know how to use good debt to buy appreciating assets. 
Myth #15: It doesn’t matter what I want – I just can’t do it 
Subscribing to this myth is almost a guarantee of failure, because our beliefs and perceptions become our reality. Some people who’ve had a few failed attempts “learn” that wealth is beyond their control and they can’t affect the outcome. They remain in a cycle of victimisation all their lives. 
This is one of the reasons why the rich get richer – they believe they are in control of their destiny. You must also believe you’re in control and act as if you’re in control. Then pretty soon you’ll be surprised by the results you achieve. Invariably, the more success you have, the more your thoughts about what you can and can’t control will alter for the better. Yes – you can do it! 
There’s no way money can know who’s in control of it, what their qualifications are, what ambitions they have or what they’re going to do with it. Money is there to be used and spent, saved and invested. It can’t judge whether you’re worthy or not. 
Now that you understand some of the myths that have held so many people back, the good news is you can do things differently. Choose to change your beliefs to produce outrageous results and reach every goal you set.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
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The final eight of 15 wealth myths that hold property investors back: Michael Yardney

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How can the astute property investor combine the benefits of low tax in super and the benefits of leverage? 
Superannuation’s prime responsibility is to provide a member with retirement income. With increasing regularity people are seeing their superannuation funds declining either from poor investments or spiralling costs. To get more control many people are moving to self-managed superannuation. 
Since mid-2007 self-managed superannuation funds have had the ability to invest in property, with bank debt.  Many see investing in property as less volatile, unlikely to reduce in value over time and importantly as an asset that is in limited supply and one that everyone needs. Thus market values (capital and rents) are more likely to grow over time. 
Property in a SMSF allows investors to accumulate property using bank debt that will be tax free in pension stage for both rental income and any capital gains on sale. At the same time, it allows the full benefits of negative gearing at the individual’s marginal tax rates while still working. This is like having multiple tax-free principal places of residences. Who says you can’t have your cake and eat it too? 
Many people argue that with leveraged property in a super fund there is less likelihood of an overall loss of superannuation, as the ability to borrow to increase the asset size allows more funds to be accumulated and grow in a less volatile asset class than maybe shares.
Ken Raiss is a certified accountant and director of <a target="_self" href="https://www.chan-naylor.com.au/" title="Chan &amp; Naylor ">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
 
 
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How to best use your self-managed super fund to invest in property

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Tasmania dominates a list of properties that have been on the market for a long time, with many vendors unwilling to discount despite spending years on the market, according to the latest report by SQM.
Five of the 10 properties on the market for long periods are in Tasmania. Properties on the list have in some cases been for sale for four years.
Managing director of SQM Research, Louis Christopher, says while a Queensland listing tops the list, he’s not surprised Tasmania features so heavily.
“We believe that the Hobart housing market has been slowly deteriorating of late and so it comes as no surprise that properties from this city are prevalent in both our 'longest days on market' and our 'most discounted' list,” he says.
He found many of the listings had not significantly reduced their asking price despite not selling.
“What we find amusing time and time again when we look at these properties, is that more often than not, these homes have not been discounted substantially even after being on the market for years in some cases.”
“In most cases they do just hang around on various real estate advertisement channels for months and months and months on end - seen by many as what can only be described as failed sales.”
Christopher suggests it might be prudent to start discounting properties such a long period.
“Yes, when you look at the localities of some of these homes you can see why their vendors may be having trouble finding a potential buyer as a lot of these properties are not situated in highly popular areas.”
“However for the most part, lack of buyer interest for an extended period of time is more commonly due to overpricing- after all, theoretically there is a buyer for every property - it's just about getting the price right.”
There are three of the 10 properties from NSW and two from Queensland.
Three of the properties - Buckland Tasmania and two in Magenta NSW - featured on this list <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/properties-lounge-on-market-for-years-if-vendors-don-t-price-realistically-sqm/2011092051629">appeared in a similar list published by SQM in September 2011.</a>
 <h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/QLD/Woorim/?adid=2007103693" target="_blank">11 Ottiwell St, Woorim, Queensland, 4507</a>
On the market since: April 19, 2008
Initial asking price: $560,000
Current asking price: $499,000
Reduction: 11%
Days on market: 1,465
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/Buckland/?adid=2007685342" target="_blank">5090 Tasman Hwy, Buckland, Tasmania, 7190</a> (pictured)
On the market since: May 18, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,437
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">3</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/QLD/Russell-Island/?adid=2007161321" target="_blank">7 Hill St, Russell Island, Queensland, 4184</a>
On the market since: May 22, 2008
Initial asking price: $315,000
Current asking price: $310,000
Reduction: 2%
Days on market: 1,432
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007162731">1403 Magenta Dr, Magenta, NSW, 2261</a>
On the market since: May 22, 2008
Initial asking price: $600,000
Current asking price: $535,000
Reduction: 11%
Days on market: 1,430
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007217761" target="_blank">1302 Birkdale Pl, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,404
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/White-Beach/?adid=2006781491" target="_blank">22 Beach St, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,393
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/White-Beach/?adid=2006781491" target="_blank">14886 Tasman Hwy, Cranbrook, Tasmania, 7190</a>
On the market since: July 2, 2008
Initial asking price: $195,000
Current asking price: $185,000
Reduction: 5%
Days on market: 1,392
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/Nubeena/?adid=2007919524" target="_blank">15 Clarke St, Nubeena, Tasmania, 7184</a>
On the market since: July 2, 2008
Initial asking price: $230,000
Current asking price: $230,000
Reduction: 0%
Days on market: 1,392
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/Swansea/?adid=2006459960" target="_blank">Lot 42 Cambria Dr, Dolphin Sands, Tasmania, 7190</a>
On the market since: August 28, 2008
Initial asking price: $425,000
Current asking price: $345,000
Reduction: 19%
Days on market: 1,335
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Quakers-Hill/?adid=2007889013" target="_blank">11 Voysey Cl, Quakers Hill, NSW, 2763 </a>(pictured)
On the market since: September 11, 2008
Initial asking price: $1,300,000
Current asking price: $1,500,000
Reduction: -15%
Days on market: 1,319
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Properties still on the market for years even without any big discount: SQM

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Working in the state of Victoria, we work within a deregulated market, so our fees for leasing and managing properties is fully negotiable nowadays and in fact it has been that way since the mid-1990s.
In the past 10 years we have seen the growth and establishment of property management into a long-term career rather than a side step into sales.
However, landlords must realise when management fees are heavily discounted, it can have a snowball event.  In the most extreme case the agency’s rent roll is sold and subsequently purchased from one of its competitors because it could no longer continue to operate a business, let alone make any profit.
Other consequences will generally include the continue turn over in property manager or property management staff.  Low management fees will generally equate to lower wages, less or no training and a continual churn in staff. Sometimes directors and/or senior managers are more focused on securing as many managements as possible irrespective of whether the agency can afford to properly service and maintain the business.
So after continual poor service, the landlord will move on to another property manager.
A further aspect that should be considered is what is actually included in the lower management fee.  Can you honestly expect to receive the same quality of service and inclusions when you are paying 4% rather than the industry standard, approximately 7%??
Cheaper is generally never better so here are some things to consider;
<ul>
<li>Are routine inspections included at the lower rate? </li>
<li>How much extra will you pay if your tenant falls into arrears?</li>
<li>How often does the agency pay its owners? Once a month? </li>
<li>What is the true quality and experience of the property manager? </li>
</ul>
Just like all service industries, you pay for what you get. Cheap is never a good long-term solution. It may serve as a short-term financial fix, but in the long run and from my experience it results in the landlord having to pay an another property manager more money to sort the problem out!
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
 
 
 
 
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You get what you pay for in property managers who work cheap

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There were 823 sales in Perth this week, up 40% from the same week last year and up 6% from the 774 sales last week, according to the Real Estate Institute of Western Australia.
<img src="/images/stories/reiwamay11.gif">
 
 
 
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Perth sales up 40% on the same week last year: REIWA

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The Melbourne inner-suburban investment property market is in recovery mode, with a perceptible shift in the balance of power from buyers to vendors, according to property investment adviser Monique Sasson Wakelin.
She maintains the latest data suggests the inner-suburban investment property market is in “recovery mode.”
“You won’t see it in the statistics published in our metropolitan daily newspapers because they concern themselves with city-wide data, which, as the table shows, only indicate a flat market.”
<img src="/images/stories/moniqueswmay8.gif">
The Melbourne inner-suburban investment property market is in recovery mode, with a perceptible shift in the balance of power from buyers to vendors, according to property investment adviser Monique Sasson Wakelin.
She maintains the latest data suggests the inner-suburban investment property market is in “recovery mode.”
“You won’t see it in the statistics published in our metropolitan daily newspapers because they concern themselves with city-wide data, which, as the table shows, only indicate a flat market.”
But she suggests investment-grade assets two to 12 kilometres out from Melbourne’s CBD are improving.
“The feedback from our team of property advisors who are in the market six days a week is that prices for this category have clawed back around half of the decline in prices experienced since the previous market peak in 2010 – a testament to their resilience and quality even in a challenged market,” she says.
Sasson Wakelin blogged that another illustration of the “two-speed Melbourne market” was auction clearance rates.
“Melbourne-wide, these are sitting at around 60% for 2012.
“That in itself is good news, being several percentage points higher than the corresponding numbers for the second half of 2011.
“Nevertheless, we are finding a higher clearance rate for top quality investment property – it is back at around 75%.”
She concedes the pace of the upswing was measured.
“The market isn’t exhibiting the volatility that can appear when it really takes off – at least not yet.
“That’s good news, as it provides more certainty and transparency about what is fair value for market participants,” she says.
“Another positive for the market was the reasonable level of quality stock at the moment.
“If you’re looking for a quality asset, now is a time you can be confident of finding it.”
“Similarly, those who are seeking to sell can expect growing interest from buyers,” she says.
With this backdrop of an already recovering market, she expects the 50-basis-points drop in the cash rate by the Reserve Bank last Tuesday, plus the prospects of further cuts in coming months, to provide further support.
 
 
 
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