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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
<div>
The Victorian sheriff conducted himself honestly and conscientiously in<a target="_blank" href="https://www.propertyobserver.com.au/residential/court-overturns-%241000-sheriff-sale-of-braybrook-home-valued-at-%24630000/2012050954635"> carrying out the $1,000 auction of a seized Braybrook house</a>, but found himself in a very difficult position under the Sheriff Act, Justice Peter Vickery of the Supreme Court ruled today.
It was because the precise nature of the duties of the sheriff had not been authoritatively defined following the abolition of the writ of fi fa.
But Vickery ruled the sale price was so unfair that the sheriff did not act reasonably in accepting it.
“Whatever may be the inclination of the court to support a public officer in the unprecedented circumstances of this case, the sale as a matter of law cannot be allowed to stand,” it was ruled.
“Because the sale was not one which was properly concluded under Division 5 of the Sheriff Act for the reasons which have been explained, s 25(1) of the Sheriff Act cannot apply and [buyer Ronald] Kousal does not gain good title to the property under it.” 
He said <a target="_blank" href="https://www.propertyobserver.com.au/residential/countdown-to-the-%241000-braybrook-sheriff-auction-and-its-overturning-by-the-supreme-court/2012051054642">the auction</a> had not been conducted in accordance with the common law or the Sheriff Act.
“As to the breach of the common law duty, at the time of the second auction the value of the equity in the property was approximately $165,000.
“This was known to the sheriff’s officer conducting the sale, who announced the amounts owing on the property to the bidders prior to commencing the auction.
“The sheriff’s officer also had in his possession the kerb-side valuation of the Valuer General placing the market value of the property at $630,000.
“There was some $465,000 owing on the property.
“Nevertheless, it was knocked down to the highest bidder on the day, Mr Kousal, for $1,000.
“This price bears no relationship to the evident market value of the property or the [owner Zhiping] Zhou’s equity in the sum of approximately $165,000 which was put up for sale.
“In my opinion, and after taking into account all of the relevant factors to which I have referred, this price was so unfair that the sheriff did not act reasonably in accepting it.
“The transaction cannot remain in place at common law.”
“Although the administrative arrangements as to the employment of the sheriff changed following the introduction of the Sheriff Act in 2010, his status as an officer of the Supreme Court for the purpose of enforcing its warrants of seizure and sale and other such warrants issued out of the court did not change.
“For these purposes the sheriff remains an officer of the court.”
Vickery outlined the principles of common law to be applied to a sheriff’s sale as:
(a) The sheriff is bound to act reasonably in the interests of both the judgment creditor and the judgement debtor in order to obtain a fair price;
(b) A fair price is not necessarily the market value, for it is well recognised that compulsory sales under legal process rarely bring the full value of the property sold.
In making a determination as to the adequacy of the highest bid, the sheriff is entitled to take into account that the sale, being a compulsory process, is usually one at which a full and fair market value for the property will not be expected and some allowance must be made for low prices being obtained at such sales;
(c) In determining the fair price in all the circumstances, matters from the prospective buyer’s perspective must be weighed. Such factors may include: the fact that buyers must be prepared to complete their purchases on the spot; the fact that buyers, particularly in the case of real estate, will not have usually have had the opportunity to inspect the property sold (at least internally); the fact that the title to the property may be encumbered or it may be physically occupied, giving rise to risks for the purchaser in acquiring clear title or rights of occupation without undue expense or delay; and other such risks which may be attendant for the purchaser on the purchase;
(d) Another factor to be weighed in the balance will be the amount, if any, obtained for the judgment creditor after the expenses of the sale have been
deducted;
(e) If it is apparent to the sheriff that in fact or in all probability the highest bid received is so far below the true value of the property offered for sale that he would be acting unreasonably if he was to accept it, the sheriff should not accept the bid and pass in the property;
(f) if the sheriff breaches his common law duty and sells property at a price which, in all the circumstances is unfair, the following consequences may follow: (i) the transaction may be set aside.54 On setting the transaction aside, no damages would arise in the usual case for which the sheriff could be liable; or (ii) where the price obtained on the highest bid is so low that it could be said that there was no sale at all, or that it was not a real sale or that it was in fact illusory,56 there would be no sale within s 24 of the Sheriff Act, and therefore no sale within Division 5 with the result that the immunity of the sheriff from a suit in damages conferred by s 25 would be removed. There would not in truth be a “sale of property under this Division” for the purposes of s 25(2). In these circumstances, if the transaction is not set aside and loss and damage is in fact sustained, the sheriff could be exposed to an award of damages at common law.
The office in Victoria can be traced back to between 1835 and 1851, when deputy sheriffs were situated in what was to become the colony of Victoria in the Port Phillip district.
The appointment of deputy sheriffs for the district was made by the Crown and confirmed by the governor of New South Wales.
The Victorian Sheriff's Office was created following separation of the Port Phillip District from the colony of New South Wales in 1851.
The first sheriff appointed in Victoria was Claude Farie, who was appointed by Queen Victoria in January 1852.
He served until 1870 and held his office under the Crown.
On 1 January 2010 the Sheriff Act 2009 came into force and commenced operation.
Justice Vickery noted prior decisions where the Sheriff could be held liable in respect of sales conducted at an undervalue including a case determined in England in 1814 during the Napoleonic Wars - Keightley v Birch &amp; Anor where Lord Ellenborough observed: "If a chattel worth £1,000 is put up to sale, and only £5 is bid for it, the sheriff ought not to part with it for that sum; and he may fairly say that it remains in his hands for want of a buyer. He ought to wait for a venditioni exponas, the meaning of which is “sell for the best price you can obtain.”
There was also a Victorian gold rush case decided in 1871, Smith v Colles, where Barry ACJ took a similar approach in relation to property consisting of mining plant sold by the Sheriff for £10 when its market value was £240 based onwithin three weeks it was resold by the purchaser for £240.
 
 
 
</div>
<div></div>
<div></div>
<div></div>
</body></html>

jchancellor-FAypfDUnLy

Six rules for sheriff's property seizure auctions determined by Victorian Supreme Court

<html><body>
Like shoppers and tourists, corporate businesses are moving in on major retail centres at the price of local parking spots.
Demand from corporate tenants who want to relocate into glamorous shopping centres is on the rise, and office buildings are being planned in response.
According to Colliers International, during the past 12 months nearly 10,000 square metres of office space has been leased in such complexes, with 1,000 square metres in Doncaster and 1,500 square metres in Knox being leased to corporate clients. In the massive $1 billion-plus Chadstone complex 1,500 square metres was leased as office space, and Victoria Gardens has attracted corporate tenants across 5,000 square metres.
A proposed office tower adjoining Chadstone shopping centre will be developed over a well-used parking and landscaped area.
“While dozens of parking places will be lost, the developer is putting in two levels of basement parking to service the offices,” says Colliers associate director of leasing Travis Myerscough.
The basement parking will be leased to office tenants, and the notion of making it available to the public on weekends has been suggested.
“It has been proposed that car park be used by shoppers on the weekend, but that is still being negotiated,” says Myerscough.
So far in Chadstone corporate tenants include medical research group Celletis, while Fleet Partners and Nova Radio are in Victorian Gardens.
“This trend of medium to large corporates moving into retail centres is gaining momentum, as they want to attract and retain staff by have great amenities at the doorstep,” Myerscough says.
Myerscough says more than 20,000 square metres of office space will be released to the market by late 2013.
By 2013 Chadstone, where retailers made $1.28 million in sales in 2010, will have a hotel and an office component that will account for between 10 and 15% of the entire complex. It is already notoriously hard to find a parking space in Chadstone at peak shopping times.
The trend is being mirrored throughout major shopping centres across Australia, says Colliers national director of retail valuation Stephen Andrew.
"Shopping centres are evolving as much more than a place to shop. Nationally, we continue to see the redevelopment of major regional shopping centres to provide a greater blend of retail, leisure and commercial activities to meet changing customer demands,” he says.
 
 
 
</body></html>

andreadixon-oif3j7eKne

Corporate offices replacing customer parking at shopping centres as Chadstone joins the trend

<html><body>
Vendors no longer have to offer as deep discounts as last year to secure sales of their properties, new data released by Australian Property Monitors reveals.
The amount of discounting required peaked in winter and/or spring in mid- to late 2011, according to APM, with the most discounting required between June and November last year in all capitals.
In Sydney, Brisbane, Perth, Darwin and Hobart discounting has reached its lowest level in a year in early 2012, according to APM researcher Clinton McNabb. However, there has been a slight rise in required discounting in all but two capitals – Melbourne and Canberra. 
Melbourne, Adelaide and Canberra vendors now offer less of a discount than they did in mid-2011, but more of a price reduction than in April last year. 
Brisbane vendors have consistently had to offer the deepest discounts to secure sales, except for in July last year, when Perth vendors offered discounts of 10.4%, compared with Brisbane's 10.3%. 
Click to enlarge
<a href="/images/stories/apmmay10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/apmmay10thumb.gif"></a>
</body></html>

cknowlton-QnEa6ntUYP

Sunnier property market outlook across Australia as vendor discounting peaked in mid-2011: APM

<html><body>
A Melbourne man has won his legal proceedings to reverse the sheriff’s extraordinary $1,000 sale of his six-bedroom Braybrook home.
Owner-builder Zhiping Zhou's imposing two-storey brick house, which was seized by the sheriff, had an estimated value of $630,000, but sold at the Swanston Street, Carlton sheriff's room auction in December 2010 without a reserve price. <a target="_blank" href="https://www.propertyobserver.com.au/residential/countdown-to-the-%241000-braybrook-sheriff-auction-and-its-overturning-by-the-supreme-court/2012051054642">There had been an earlier no-bid sheriff's auction</a> when there was a $171,000 reserve which represented Zhou's equity in the property after his debts were paid.
The case into the second auction which had a court decided no-reserve sale price was heard in February, with Justice Peter Vickery delivering his judgement in the Victoria Supreme Court Commercial and Equity this morning.
"The purported sale is set aside," Vickery ruled citing equity laws dating back to the Middle Ages.
"It is important to note that, although the order of Associate Justice Mukhtar expressly authorised the sheriff to conduct a sale of the property without a reserve price, this was not an unfettered authority to sell at any price which could be obtained. The order expressly directed that any such sale must be conducted in a manner which did not “derogate from, or relieve the sheriff of a duty at law to the owner of the land when exercising power of sale”, <a target="_blank" href="https://www.propertyobserver.com.au/residential/six-rules-for-sheriff-s-property-seizure-auctions-determined-by-victorian-supreme-court/2012051054639">Justice Vickery noted</a>.
Ronald Kousal, who was the highest bidder for the Wirraway Avenue home after beating off a $200 bidder, was taken to court by the aggrieved foreclosed house owner.
Justice Vickery ruled he did not regard Kousal’s conduct in seeking to enforce the sale of Zhou’s "as unconscionable."
Anthony Strahan, for the sheriff, <a target="_blank" href="https://www.propertyobserver.com.au/auctions/sheriff-selling-%24630000-braybrook-house-for-%241000-had-duty-to-obtain-fair-price-court-told/2012021053330">had argued the Sheriff's Act made the office ''immune'' from being held responsible</a> for the outcome of such an auction, and the buyer must be protected.
<a target="_blank" href="https://www.propertyobserver.com.au/auctions/sheriff-selling-%24630000-braybrook-house-for-%241000-had-duty-to-obtain-fair-price-court-told/2012021053330">Zhou's lawyers told the court </a>the sale was "absurd", arguing the judge ought to reverse the sale and to find the sheriff in breach of duty.
"[The sale is] so short of the mark it's not a real sale," barrister Paul Hayes told the court in February.
He said it was hard to imagine lawmakers had intended for people like Zhou to lose out so badly.
Zhou was “vulnerable to the sheriff properly exercising his duty under law” according to his lawyers.
“He was exceptionally vulnerable to the price accepted by the sheriff,” barrister Hayes said during the second day of the hearing. The judge was asked to consider invalidating the sale and or awarding damages.
The property had remained in Zhou’s registered name, according to a title search, although there were warrants of claim registered on title.
<a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-vendor-goes-to-court-over-%241000-no-reserve-sheriff-s-auction-of-his-braybrook-home/2012020953319">The man who bought the home is also being accused of taking advantage of Zhou</a>, however his lawyer told the court the sale was legal and legally it could have been sold for one cent.
The property had been briefly listed in 2007 through Barry Plant Sunshine, according to the Australian Property Monitors auction database. It was then listed with different agents in June 2010 with $650,000-plus hopes for its slightly postponed July 2010 auction, according to the APM report on the property.
There was a subsequent $660,000 auction offer, but it fell short of the $750,000 reserve price when listed through Burnham Real Estate.
There was $465,000 owing on the property.
The block cost $170,000 in 2003.
Lawyers for Zhou highlighted submissions in the buyer’s affidavit that he would search the Government Gazette every Thursday looking for properties coming up for auction.
<img src="/images/stories/sheriff.png">
A week before the auction he would contact the sheriff’s office to find out if the auction was going ahead and following a review of the assets, land and any encumbrances set a budget for purchase.
From 2000 Zhou has bought and sold property at least 10 times.
 
</body></html>

Court overturns $1,000 sheriff sale of Braybrook home valued at $630,000  

<html><body>
Offers are still being considered on Falls Retreat, home to the Australian Tennis Academy, in the Oxford Falls Valley on Sydney’s north shore.
It was on the market last month after being held by the same family for almost three decades.
Colliers International’s Henry Burke and Brian McInally marketed the Oxford Falls Road property, which consists of 12 motel-style overnight rooms, 12 synthetic grassed courts, a function centre with liquor licence, and pool and barbecue facilities for members and guests.
Burke says there is potential for expansion of one of the very few multiple use recreational, commercial and social destinations in Sydney.
The agents fielded interest from sport and recreation business owners and hospitality function centre owners. Since the expressions of interest closed last Thursday there are three parties still actively looking at the property.
But it will now be showcased in Hong Kong and Beijing later this month expressly to the Chinese tennis fraternity.
The property offered for the first time in 27 years. Kevin and Glenys Collins formed the Australian Tennis Academy in 1985 to offer a high-quality tennis venue and top-quality tennis coaching under the stewardship of Ross Jones.
In 1991 the Collins couple added the accommodation rooms and a function centre.
</body></html>

Ball in vendors' court as offers considered for Australian Tennis Academy home Falls Retreat 

<html><body>
The Top Ryde City shopping centre in Sydney’s northern suburbs is expected to be marketed shortly after receivers McGrathNicol sought sales campaign proposals from estate agencies.
The centre has been in the hands of external administrators since the company behind the redevelopment, Bevillesta, entered voluntary administration in February 2011 after being unable to repay debts.
Numerous potential buyers have run a ruler over the property since it fell into administration, with the retail centre almost sold in July 2010 to a GPT-managed fund.
Bevillesta appointed BRI Ferrier as administrator, with creditors to the company claiming they were owed about $900 million. It included a syndicate of five banks owed more than $600 million, according to Fairfax Media.
Top Ryde City covers 78,215 square metres of retail space and has about 3,000 undercover car parking spaces. It includes major national retailers, a cinema complex and more than 250 speciality stores.
 
 
 
</body></html>

Top Ryde City shopping centre about to hit the market as receivers seek estate agents

<html><body>
Australia could face a balance of payments crisis if a sharp slow-down in China results in a slump in export earnings at the same time that imports of capital goods soar as miners hurry to finish their major investment projects. According to the latest budget projections, Australia’s current account deficit is expected to swell to 4.75% of GDP in 2012-13, and to 6% of GDP the following year.  According to Treasury, the deterioration reflects the fact that the trade balance is likely to fall into deficit as miners step up their imports of foreign-made investment equipment while export earnings sag as a result of lower commodity prices. At the same time, Treasury expects that Australian consumers will take advantage of the strong Australian dollar by spending more on overseas travel and imported consumer goods. Import volumes, it says, are likely to rise by 7.5% in 2012-13 and by 5.5% in 2013-14. Even though commodity prices appear to have peaked in the third quarter of 2011, Treasury expects that our export earnings will remain relatively buoyant in the next two years, due to continuing strong demand from China and India. Australia’s coal and iron ore exports are likely to rise, following major expansions in resource projects in Western Australia and along the east coast, while rural exports are expected to remain at historically high levels. Still, the strength of the Australian dollar is proving to be a handicap for exporters of elaborately transformed manufactured goods, and for firms that sell services – such as tourism and education-related travel – to foreigners. But Treasury’s forecasts are based on the assumption that China’s economic growth will remain robust, even though its largest export market, the European Union, is slumping deeper into recession. Treasury is forecasting that China will notch up a growth rate of a little over 8% a year for the next three years. If China’s growth rate stumbles, we could see an alarming blow-out in Australia’s current account deficit. The problem is that the extremely long lead times involved in developing major resources projects means mining companies are committed to spending huge amounts of money buying foreign-made capital goods and equipment. As Treasury itself notes, despite the continued uncertainty over the global economy, “the resources sector has committed to, or commenced construction on, over half of the estimated $456 billion resources investment pipeline.”  Even if a sharp drop in Chinese demand caused global commodity prices to slump, it would be difficult for the large mining companies to pull out of major investment projects now under way. As a result, miners will find it difficult to scale back their purchases of foreign-made capital goods and equipment, which will mean that our import bill will continue to soar. A slump in commodity prices, however, would see our export earnings collapse. Already Treasury is expecting that increased global supply will weigh on commodity prices in the next two years, and that our terms of trade (the relation between export and import prices) will decline by 5.25% in 2012-13 and 3.25% in 2013-14. The risk is if Treasury’s assumptions about China’s growth prove to be overly optimistic. If the brutish combination of surging imports and a collapse in export earnings were to push our current account deficit to, say, 8 or 9% of GDP, we could see international investors become very anxious about lending to Australia. In that situation, our banks could find it much harder to raise money in offshore markets, and would likely have to pay higher interest rates to access funding. Meanwhile, the Australian dollar would collapse, pushing up the cost of servicing our foreign debt. And it would probably take some time before Australia’s tourism, education and manufacturing sectors felt the benefit of the lower exchange rate. Australia would be caught in a current account deficit trap, unable to curb its voracious appetite for imports, despite a slump in export earnings.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
 
 
</body></html>

kmaley-9YUCXqEai5

If China's economy stumbles, Australia's deficit will soar: Karen Maley

<html><body>
Who is the most important person to approve the design of your project?
Is it the draftsperson/architect who is designing them?  Or perhaps a town planner at thecouncil?  Or your lender?  Maybe you?  In my opinion, none of these.
I can’t tell you how many plans we look over and present to our builders for tendering.  Some come to us as DA approved sites, some also have the construction certificate issued – they are our favourites as all the fees and charges have been paid and we can start building immediately.
But most often we will find a development site and have to start from scratch designing the development.
We may use an architect to design the project depending on the location and type of dwellings we want to build. Or we will ask the builder’s in-house drafting department to prepare plans based on a standard builder’s design.
I often find that the stock-standard builder’s design works best because the builder has built it time and time again and they know how much it will cost and any issues with the design have been ironed out long ago.  We can usually make some small changes to the floor plan or façades to put our own stamp on it and make sure it’s different to what’s been built in the area very cost effectively. But every site is different, so it’s important that the design you use, is adapted correctly to the site.
One of my biggest issues as a project manager is when the architect or draftsperson has not bothered to go to the site.
Today I had one of my site managers phone me and the conversation went like this: ”Jo, did that @$##8 draftsperson even come to this site when they were working out their levels?” I said,” I don’t know, this site was DA approved before our client came to us to project mange it... What’s up?”
“Well, I doubt it,” he said, “as the plumber has just installed the drainage pits to the level on the plan and now we have to bring in tonnes of fill and retain this area to make the drainage work”.
You can only imagine my response.  Three hours later, we’d worked out a better solution at no additional cost to the client, but it took several discussions between me, the site manager, the engineer and the draftsman.  So that’s where my morning went. This could have been avoided if the draftsman had come to site to see in real life what was there.
As a standard practice, we have the construction manager of the builder we are using to oversee all our drawings and plans and make sure he is happy with them from a construction perspective before they are submitted to council.  This has made the construction phase a lot smoother.  Often a draftsman’s lack of understanding of the actual building process or the site can mean costly corrections when under construction.
So the most important person for me to check our plans is the construction manager. He is going to be the one standing on the site bringing the project to life, and if he hasn’t picked up an unforseen issue then I don’t know who would.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" title="Property Bloom" target="_blank">Property Bloom</a>, which manages property development.
 
 
 
 
</body></html>

jochivers-wq5Bp59R5a

Why the construction manager is the most important person to a development

<html><body>
Fresh works are proposed for the former Carlton United Brewery site on Swanston Street, Melbourne.
Grocon has announced plans for works to the former malt store and also to the bluestone brewery buildings on Bouverie Street.
The initial works comprise restoration, reconstruction and adaptation of heritage buildings, which have remained vacant for about 25 years.
<img src="/images/stories/cub4.jpg">
The proposal involves the redevelopment of the malt stores as restaurants and offices to an ARM Architecture design.
While it involves minor alterations to the exterior of the malt store building, it is also proposes to remove 18 of the 21 reinforced concrete malt tanks.
<img src="/images/stories/cub7.jpg">
The tanks have technical importance as an innovation of their time. They were also constructed by Australia’s most famous engineer, John Monash.
<img src="/images/stories/cub5.jpg">
Two of the three tanks are to be retained as meeting rooms within the office component of the development, and one will be retained in its original state.
<img src="/images/stories/cub2.jpg">
It is proposed to modify the bluestone facades to Bouverie Street to allow vehicle access to the future apartment tower to be located in the middle of the site.
The permit application is currently with Heritage Victoria.
<img src="/images/stories/cub8.jpg">
The project is to be delivered in two stages, the first over three years beginning in 2012, and will extend through to the completion of the main tower to be erected behind the malt store.
The second stage is expected to be delivered by 2020, but is dependent upon obtaining tenant commitment.
<img src="/images/stories/swanstonsq1.jpg">
The works will form part of the unfinished Swanston Square project (pictured above), which Grocon is currently marketing, with one-bedroom units starting at $366,000 through Colliers.
It was in late 1987, production at the Carlton plant ceased as the company concentrated its operations at the Abbotsford site.
Various proposals for the redevelopment of the site were developed, including building new headquarters for Elders-IXL, triggering demolition of most of the buildings on the site.
In 2011 the site on the corner of Victoria and Swanston Street previously occupied by the two-level extension to the malt house was redeveloped for the eight-level RMIT Centre for Innovation.
<img src="/images/stories/pixel.jpg">
The five-level <a href="https://www.propertyobserver.com.au/commercial/it-s-becoming-easier-to-be-green-as-more-embrace-sustainable-commercial-design/2011072150878">Pixel Building</a> (pictured above) was also constructed in 2011 on the corner of Queensbury Street and Swanston Street.
The use of the site as a brewery dates back to 1858, when Rosenberg and Co. established the North Melbourne Brewery at 24 Bouverie Street, according to the Lovell Chen heritage report prepared for the Grocon submission.
This brewery closed within a year but was reopened in 1864 by a new owner, John Bellman, who used Rosenberg’s buildings and plant but renamed the venture the Carlton Brewery.
<img src="/images/stories/cub3.jpg">
Bellman substantially expanded the complex, constructing additional buildings facing Bouverie Street.
<img src="/images/stories/cub1.jpg">
Despite his considerable outlay, however, Bellman’s company also failed and the brewery was sold by sheriff’s auction in 1865.
The new owners, Edward Latham and GM Milne, who engaged well-known brewer Alfred Terry to set up their plant, had more success with the business, which was renamed EG Latham &amp; Co and over the next 20 years both plant and buildings on the site were expanded as the company’s output increased. Additions to the complex, for example, included brick stables north of Ballarat Street and a large bluestone cellaring and warehouse building onto Victoria Street (1870). In 1872, the old Rosenberg plant and timber building were demolished, and Latham erected a new brick brew tower in this location.
The building on the corner of Ballarat Street and Bouverie Street was constructed as a malt store in 1883.
In 1882, the Melbourne Brewing and Malting Company was formed, with Latham as its managing director.
The company subsequently amalgamated with Alfred Terry’s West End Brewery in 1889, to form the Carlton and West End Breweries Limited.
The company underwent considerable expansion in 1890, with the purchase in 1890 of 5,500 square feet (511 square metres) of land on the corner of Bouverie Street and Victoria Street.
<img src="/images/stories/cub6.jpg">
New bluestone offices were constructed south of the existing Bouverie Street buildings.
The design in 1904-05 of Carlton Brewing Company’s new malt store and its layout and plant was said to have been ‘suggested’ by the company’s head brewer, Lieut.-Col. Ballinger.
The architects were Messers HV and A Champion, and the builders were Messers Baxter and Boyne.
The internal silos were erected by John Monash of the Monier Concrete Company, and the elevators were erected and installed by Robert Bodington, the well-known firm of flour milling and malting engineers.
The application is available for public view through the Heritage Victoria website, and public submissions on the proposed works can be made until May 23.
 
</body></html>

Sir John Monash’s malt tanks set for removal under Grocon’s heritage CUB site redevelopment plans

<html><body>
The government announced in the budget that it would not be proceeding with a tax break for energy-efficiency upgrades of commercial buildings – a loss of $405.2 million over forward estimates and $1 billion over the life of the program.
This program would have enabled businesses that upgraded buildings from two stars to four stars or higher a bonus tax deduction of 50% of the cost of the eligible assets or capital works.  The government argues that the institution of the carbon price, support available from Low Carbon Australia and also potentially the Clean Energy Finance Corporation (CEFC) makes this program redundant.
This program was always a relatively clunky way of incentivising upgrades in energy efficiency of existing buildings, that would be far better dealt with through an energy efficiency credit trading scheme. However it is the only meaningful program for driving upgrades in the energy efficiency of existing commercial buildings. Unlike new buildings, the far more numerous stock of existing commercial buildings were never subject to any form of minimum energy efficiency standards. Therefore upgrading their energy efficiency represents a large opportunity for cost-effective abatement.
Low Carbon Australia and the CEFC are not really equivalent replacements. Low Carbon Australia’s funding falls well short of a billion dollars. Also the CEFC is an unknown quantity and could represent an administratively onerous and inconsistent model for incentivising energy efficiency. Plus the carbon price impact on electricity prices will not overcome split incentive problems in the sector.
Hence the displeasure of the CEO of the Energy Efficiency Council, Rob Murray-Leach who said: “The government justified this budget cut by saying that the Tax Breaks would have been a more expensive way of cutting emissions than the carbon tax. This is absolute rubbish. This program would have helped building owners save energy and save money, which means that it would have lowered the cost of meeting Australia’s greenhouse gas targets.”
Murray-Leach continued noting that: “The government knew they were going to introduce a carbon price last year, but they didn’t cut the tax break for green buildings in May 2011. This cut is nothing to do with a carbon price, and all about the government saving money at the expense of business”.
To drive rapid improvement in the energy efficiency of Australia’s building stock requires a straightforward, transparent, rules-based qualification model; rather than reliance on project by project selection processes that rely strongly on the individual judgement of program administrators. The loss of the tax break is a backward step in this regard, and disappointing for the energy-efficiency sector.
Hopefully the property sector will now come to their senses and get behind a National Energy Savings Initiative instead of lobbying for tax breaks.
This article originally appeared on <a target="_blank" href="https://www.climatespectator.com.au/">Climate Spectator.</a>
 
 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News