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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Led by apartments and renovations, Australian residential building approvals rose 7.4% in March according to the Australian Bureau of Statistics.
Economists' forecasts had centred on a 3.1% rise in approvals in March, according to Bloomberg.
The number of permits granted to build or renovate houses and apartments gained 7.4% from February when there was a revised 8.8% decline, the ABS said.
Over the year building approvals in March declined 15% which the economists had forecasted would show an 18% annual drop.
 
 
 
 
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Residential building approvals up 7.4% in March: ABS

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A $4,865,000 sale in Malvern stood out at weekend auctions, especially as the purchaser also took up the adjacent neighbouring block option to bring the total sale price to $7,131,510.
It was auctioned by veteran auctioneer Gerald Delany, having been listed by Kay &amp; Burton agents Michael Gibson and Matt Davis, who say it was bought as an intended residence.
{yoogallery src=[images/stories/may7malvern]}
The expansive corner allotment, of 2,057 square metres on the corner of Mayfield and Wilks avenues (pictured above), had been consolidated with three purchases beginning with $670,000 in 1989, then $435,000 in 1990 with the last block added at $1.31 million in 2003 for the now pool block.
It totalled a $2,415,000 cost.
It comes with a five-bedroom cottage with a floodlit north/south tennis court in established gardens. There were the three bidders, according to James Buyer Advocates attendee Adam Woledge.
Matt Davis said the highest bidder was entitled to first right of refusal on the pool block at a 7.5% discount on the rate per square metre for the previously auctioned two block offering.
The sale was the weekend’s highest sale, with the REIV reporting a 62% clearance rate compared with 58% last weekend and the same weekend last year.
“The decrease in interest rates announced earlier this week may help stimulate activity levels; however it is unlikely we will see any noticeable impact for another few weeks, as in addition to the rate cuts other economic indicators such as unemployment levels and consumer confidence will need to improve if we are to see an increase in activity and prices,” REIV chief Enzo Raimondo says.
There were 592 auctions reported to the REIV this weekend, with 368 selling and 224 being passed in, 131 of those on a vendor’s bid. Next week the REIV estimates 640 auctions will be conducted followed by 610 in a fortnight.
<a href="https://marketnews.com.au/2012/05/its-cool-today-especially-in-that-2m-to-3m-range/">Buyers’ agent Mal James says</a> the interest rate cut didn't seem to have the hoped-for effect of boosting activity in Melbourne's top end.
“Clearance rates were just 55% on the 33 million-dollar-plus auctions we attended in Melbourne's inner east and bayside areas.
“There were some strong results on well-priced quality homes, and our demand indicator showed a fairly healthy average of 1.6 bidders per auction.
“But there has definitely been a cooling of interest in the last week or so.
“There have been fewer buyers through opens, and agents are definitely glummer.
“It may be that buyers in this segment are focusing more on the bad economic news that triggered the interest rate cut, rather than the fact that money has become cheaper to borrow,” James says.
Sydney’s clearance rate was 60.5% from the 337 results reported to Australian Property Monitors.
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After adding the pool block, Malvern $7,131,510 sale stands out as Melbourne prestige market cools

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There was a lot of interest – but not many bids – at an Elsternwick auction over the weekend.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
The agents were right about the interest in 21 Hopetoun Street, Elsternwick (pictured below) as, due to the rain, a huge crowd crammed into the living room to watch the auction.
<img src="/images/stories/hopetoun.jpg">
Unfortunately for the owner this interest did not translate into bids as the property passed in on a solitary bid for $1.4 million. But one bidder really wanted the property, and after a short negotiation the buyer upped their bid by just over $140,000 as the property sold for $1.541 million.
The recent trend for many vendors in Sydney has been to try and sell prior to auction, as low clearance rates means taking a property all the way through to auction can be risky.
However the vendors at 22 Rawson Street, Epping (pictured below) knew they had strong interest in their property and on Saturday this interest converted into multiple bidders. After being quoted at $1.2 million plus, the property sold for $1,312,000.
<img src="/images/stories/rawson.jpg">
Only two rounds to go in the autumn season of Property Tycoon, and the competition is heating up.
 
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Interest doesn’t translate into bids for Elsternwick auction tipping competition property

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John Morris, the founding director of Port Douglas Reef Resorts, heads a syndicate that has bought Crystalbrook Lake Station, a north Queensland cattle station, with plans to turn it into a five-star tourism destination.
Morris – known as "Mister Port Douglas" to his friends – and colleague Jim Noli’s company, Port Bajool, bought the 34,000-hectare station, set 220 kilometres west of Cairns at Mareeba, from cattleman Gary Hill for $2.2 million.
With good reliable rainfall of 35 inches (about 89 centimetres) per annum, the property comes with large Queenslander homestead set in tropical gardens and a lake house set 15 kilometres from the main homestead. The property has a 120-hectare lake, built in the late 1960s in the boom of the tin mining days, and water courses.
Morris is credited with establishing Port Douglas as a resort destination having developed and operated several accommodation properties, including the Radisson Treetops Resort.
He plans to add five suites to the homestead on the station’s lake and co-ordinate holidays for upmarket travellers starting their tour at the Great Barrier Reef and plans to helicopter people.
“Tourism needs a boost, and I think we need to think more laterally and make the destinations more attractive,” Morris told the Australian Financial Review.
“We are anxious to support outback tourism as well and leverage the potential from the reef and the rainforest,” he said.
The cattle development program will be maintained. Crystalbrook was leased to the collapsed listed managed investment scheme company Great Southern with a carrying capacity of 2,750 adult cattle.
The sale was negotiated by Richard Larkin from Landmark Harcourts, Mareeba, and Henry Slaney from Slaney &amp; Co, Charters Towers.
It was at below the recent $2.6 million asking price and a 25% discount to the station’s 2009 valuation, according to the AFR.
Last traded in 2000, it was sold to finalise the deceased estate of a family member.
Morris, then a Sydney businessman and a dedicated sailor, came to Port Douglas around 1972 seeking a good anchorage.
 
 
 
 
 
 
 
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Luxury tourism plans for John Morris-led syndicate purchase of Queensland's Crystalbrook Lake cattle station

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The RBA helpfully published the latest major bank net interest margins (NIMs) in its Statement of Monetary Policy, which, I should note, I have only glanced at reluctantly (more on this later). What stands out is that ANZ has the widest margin between the cost of its funding and the price of its products. This is not news in and of itself – it has been the case for several years.
So what will ANZ do when it makes its now controversial independent interest rate decision on the second Friday of the month? On the two previous occasions it unilaterally jacked up rates (in February and April), and ANZ only increased them by six basis points. Following the April increase, its standard variable rate loan was actually on par with CBA's, but higher than NAB's.
We know ANZ’s overall NIMs are much wider than Commonwealth Bank’s (see the chart below), although this probably reflects more corporate lending and relatively greater offshore banking exposures. Thus the wider NIM also compensates it for taking on higher risk.
<img src="/images/stories/may7.gif">
ANZ has copped flak for its attempts to decouple from the RBA, and by waiting until this Friday it will likely be the last bank not to pass on the full 50-basis-point cut. There is a subtle margin play here. By not announcing its rate decisions until the second Friday of the month, and then delaying, typically, the actual change in its rates another week (i.e., the change does not normally take effect for another seven days), ANZ can benefit from lower short-term funding costs while waiting as long as possible to reduce its product prices. That is, it can lock in wider margins for longer.
If I were ANZ I would want to win back some PR points after the beatings I have copped following the February and April announcements. So I would pass on more than any other major bank, probably around 41 to 43 basis points if I had to pick a number. A 42-basis-point pass-through would give me a one basis point lower SVR loan than CBA, which enables me to argue that I am the second cheapest major.
Because it has passed on more of the RBA's cut than any other major, this should, in principle, be positive for the brand. And it will be the last bank to report doing so. The beauty for ANZ is that it can then chisel back a few basis points of margin if it needs to over the coming months based on its independent pricing model. Assuming unchanged RBA rates, I would make these variations so small as to not warrant material media attention (i.e., a basis point or two here and there). But, collectively, they mean a great deal to ANZ's bottom line.
Christopher Joye is a leading financial economist and a director of <a href="https://www.ybr.com.au/savings/index.cfm" target="_blank">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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The wisdom behind ANZ's rate cut delay: Christopher Joye

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The lower north shore enjoyed a slight price revival during the March quarter, according Residex, being the strong Sydney precinct. Houses prices rose on the lower north shore by 3.79% during the first quarter of 2012 to a $1,424,500 median value. Most of the growth came during the month of March.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/residexmay71.gif" rel="shadowbox"><img src="/images/stories/residexmay71thumb.gif"></a>
The next strongest precinct was Campbelltown – up 2.74% to a $361,000 median in the March quarter.
But the strongest performer over the year – amid the six precinct with positive annual growth – was Liverpool/Fairfield, with annual price growth of 3.13% to a $459,500 median. Canterbury-Bankstown was the next strongest annual performer, up 2.44% to a $583,000 median value.
Inner Sydney was narrowly pipped by the southern outskirts of Sydney when it came to the strongest 10-year growth, with the southern localities - postcodes 2571 to 2639 - averaging 6.59% annual growth to its $354,000 median value, narrowly eclipsing inner Sydney's 6.15% rose to a $903,500 median value.
Photograph by Emmett Anderson, courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
 
 
 
 
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Lower north shore prices revived slightly in March: Residex 

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Australian Property Monitors (APM) has released a list of results from 337 auctions in Sydney for the weekend of May 5. The clearance rate was 60.5%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
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APM's 337 Sydney auction results showing a clearance rate of 60.5%

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 What is the formula for success? It is quite simple. Keep on making mistakes.
You may think that failure is the enemy of success, but it is not true. You can be discouraged by failure or you can learn from your mistakes. So go ahead and make as many as you can. Just try to ensure they don’t hurt anyone along the way.
J.K Rowling, the author of Harry Potter once said “You might never fail on the scale that I did. But it is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all - in which case, you fail by default.”
Your success in life as well as in work is actually built on your failures. They are the mechanism by which we learn, and they are the stepping stones that will get you to the place you want to be in the future. If you don't make mistakes (and learn by them) you will find it hard to succeed. To fail is to be human.
Achieving success is not something that happens overnight. You have to work hard at it; you have to have failed many times first, and you have to feel hungry and go through the bad times before it happens.
In Australia TPS (or Tall Poppy Syndrome) is a social phenomenon in which people of genuine merit are criticised because their achievements apparently elevate them above their peers. Sadly, in this lucky country cutting tall poppies it is almost a national sport.
It is too easy to give up on your dreams when you have failed many times. These failures might include a regrettable comment you made in the office, the day you forgot your wedding anniversary, or the black day that your business collapsed.
So what? Life goes on and you control your own destiny. No one else can do it for you.
People will criticise you along the way, and they will do their best to put you down. Some see failure as a weakness, when in fact it is strength. Ignore them and concentrate on your own dreams and not theirs.
“It is not the critic who counts; nor the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.” – Theodore Roosevelt.
And one final quote . . .
“You are the author of your own life. It's up to you to dream it, imagine it, sketch it, shape it, build it, go after it and make it happen. Then colour it in with bright, shining shades of joy and efforts that are yours and yours alone. No one else can know the dreams you dream or the strengths you have within you that will help you make those dreams come true. They are yours alone. And so is today."  –Author unknown
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
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The formula to success is to keep making mistakes

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The phrase “residential property investment” means, to most people, simply looking at a house or an apartment as an investment decision. As they say, “Your home is your greatest investment”, which is true, but the truth is that residential property investment is an all-encompassing phrase, referring to an ever-growing list of investment strategies, with the common link being that all strategies have the objective of growing financial wealth to secure one’s future.
Today I thought it best to run you through some of the major strategies out there, and some emerging ones that are growing in popularity.
1)      Home ownership While owning your own home is the most basic of property investment, it is a strategy that most property owners employ, and go no further with. And this is perfectly fine; providing that you are employing other tactics along the way during your life to ensure you are building a nest egg beyond just the home you live in. While your home will no doubt appreciate in value over 30 or 40 years, singularly, the ownership of just this asset will not secure your retirement, you’ll need more than this. Unless, of course, your home happens to be a palatial Miami mansion and you then comfortable to sell up and downsize to a studio apartment during your retirement (a scenario that few would find themselves in, I’m sure!).
2)      Buy-and-hold This is where you grow a portfolio of numerous properties during an acquisition phase, then hold on to them for at least two cycles of the property market (so, at least 15 years, but ideally longer) and then later in life you cash out most of the portfolio (sell say 90%), using the after-tax profits to buy your home to retire in (outright) and also have a tidy nest egg of money put aside to enjoy your retirement years with. 
3)      Buy, renovate and sell (aka ‘flipping’) Not a strategy  for the inexperienced or those who do not like/cannot handle fast-paced madness, buying an unrenovated property, then quickly renovating and selling for a much higher price before quickly moving on to the next one is not for the faint-hearted. The failure rates are quite high, in the respect that many who set out on their first ‘flip’ property never attempt their second. Some have made lucratively successful careers out of this, such as Renovating For Profit founder Cherie Barber. To succeed long-term with this strategy, you pretty-much have to give up your day job and make this your full-time job. The problem for most people is they envisage a lifestyle where you get to pick out cool fixtures and fittings and personalise a property the way you like it. The reality is the complete opposite; you instead become a site project manager and make decisions based on the bottom line and not personal taste. 
4)      Renovate and hold This one mixes the above two strategies together (sort of) and works well for those happy to be quite transitional themselves, and not have a fixed residential address for many years at a time. Basically, you continue to grow a portfolio of properties held; but the kinds of properties you acquire are ones that need work. These could be basic cosmetic work, or full-on structural-and-cosmetic projects. Either way, you either move into it and renovate while living there for six to 12 months, or you project manage it until completion over three months or so, but instead of selling, you hold the property and rent it out for a much higher rental return than it originally offered. Over time you may grow a portfolio of renovated properties that provide excellent rental return. 
5)      Managed funds and/or property super funds This kind of investment is the most passive, minimal risk, and minimal, well, work! But it is also very separate kind of investment strategy. This approach relies heavily on trusting a financial institution to invest your money in property shares and portfolios, to produce financial growth for you. Whilst the gains are nowhere near as lucrative as the wealth you could manufacture by running your own strategies; they are also less risky, cumbersome, and use minimal time. A good strategy to use as a tactic in unison with other investment approaches. It is not one I’d use singularly on its own. 
6)      Group family buying This is less a property investment strategy as it is more a strategy to create greater efficiencies when it comes to home ownership. We must actually give thanks to the modern multicultural landscape of Australian society, because without multiculturalism, Australia may have never become privy to this strategy. This is a common strategy in some Mediterranean, Asian, and South American countries, and one that many Western societies is fast adopting and learning from. The strategy essentially focuses around weddings. Both families come together to contribute funds towards the newlywed couple’s first home purchase. Usually, those contributing go beyond just the immediate family relatives. Yes, cousins, second cousins, close family friends, great aunts, etc all pool contributions together. The idea is you get 30 to 40 contributors all giving say $1,000 each, and the new couple have their home deposit ready to go. The couple also work to save their own deposit, which means that some couples purchase their first home on just a 60% or 70% mortgage. The idea works on a “pay-it-forward”/karma approach; in that the contributors know that when it’s their time to purchase a home; all others in the network will share their little kick-start back to them too. To work effectively, this strategy does require a lot of trust within families and their extended family connections. 
7)      Co-investment with friends/relatives Different to group family buying, in this strategy a partnership of two, or perhaps three/four, people band together in order to achieve their investment objectives. This strategy can be great for those on low incomes, limited resources, and those with limited time, to work on a project together and see a gain. Positives then, are that much less start-up capital is required to invest, plus you have a second opinion all the time, which can help protect against making poor investment decisions (but not always!). Co-investors also have the benefit of being able to share skill-sets, connections/contacts, and experience, to strengthen their plans. Cautions for this strategy though are plentiful: with difference of opinion, personality clashes, and long-term strategy shifting being the biggest challenges with this approach. Additionally, the legal complexities often make contracts/solicitors’ fees skyrocket; as all exit-scenarios need to be considered, and an iron-clad contract detailing the agreed outcome based on every possible scenario must be composed by lawyers. Additional stress can ensue when family or partners are involved. Should things go sour, the relationship can suffer. This can occur with friend-based co-investors also; but if you can find your rhythm early on, this can be an effective strategy. 
8)      Full-time property development. And by this I mean, for example, building an entire block of units, from scratch. It probably goes without saying that this strategy is one that only those with high cash stocks are even able to contemplate. Often times, more mature investors who have been building portfolios over many years may build themselves up to this kind of venture. Usually by this point, they have picked up skills, contacts, and capital along the years, to make a larger-scale development even feasible. Even despite all of this, the complexity of full property development can make fools of even the most experienced and savvy investors. Not for the faint of heart. 
I’ve no doubt there are additional strategies out there that Australians are using in their property pursuits (and I’m keen to hear from you, more on them!). Overall, though, one must always remember that there is no hard and fast rule or strategy to property investment. Some people choose just one of the above strategies and roll with it; whilst others form a strategy that mixes several of the above as tactics along the way. Regardless, it is important to consider all of the options available to you when starting out, and to know that you can only do this; once your objectives and ambitions are laid out. 
And that right there, folks, is the first and best step in your strategy: to define in great detail your objectives and desired outcomes. Without this (and to quote hard rock singer Chris Cornell) it is like building a house of cards on a hill of sand.
Cameron McEvoy is a property investor and maintains a blog, <a target="_blank" href="https://propertyspectator.blogspot.com.au/">Property Spectator.</a>
 
 
 
 
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Eight strategies for residential property investment

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The cut in interest rates last week was a good story for mortgage holders, but now what for savers? With the cash rate at 3.75%, what do Australia’s retirees and near-retiring workers do? The 0.5% rate cut is money saved for mortgage holders, but it’s less income for those relying on cash deposits, term deposits and fixed-income products. And in this country savers outnumber mortgage holders by almost three to one.
Savers have some thinking to do, especially if we have a minor recession and the Reserve Bank cuts the cash rate again to kick start economic activity.
The banks are in the process of adjusting down their mortgage rates, which will take effect over the next few weeks, pushing down their cash and term deposit rates, which will happen immediately.
For those in retirement or close to it, shares and property carry liquidity and market risk that they’d rather not take on.
For this large cohort of people, the choices come down to putting your money in a transaction account, a designated high-interest savings account or a term deposit.
Let’s start with the last one. As the banks cut their deposit rates, you’ll notice more movement in some types of term deposit than others.
The average 12-month TD rate at banks will drop to around 5.25% and the 30- and 60-day TD rates will on average drop to around 5% or less.
Right now the sweet spot is going to be the 90- and 180-day term deposits, which will settle at at around 5.3 to 5.5% in the next two weeks.
Banks have a need of intermediate funding right now, so they will bid for your money by making offers on 90- and 180-day term deposits as attractive as they can.
However, it’s always worth looking around for alternative deposit opportunities, such as something like Yellow Brick Road’s Smarter Money trust, which is returning about 6% after fees. Your goal should be to have a spread of investments to diversify your risk.
If you’re not comfortable with shutting your money away for a set term, you’ll either be looking at keeping your money in a transaction account, where you normally get zero per cent, or an online savings account where the 12-month average return is around 4.5%, perhaps over 5%.
I make two points about these options. Firstly, earning zero per cent in a transaction account is not smart because with inflation running at around 2.5%, you’re going backwards.
Secondly, when investigating “bonus interest” offers at an online savings account, the institution may offer you between 5.5% and 6%, but the rate will apply for three or four months, at which point it drops to around 4.5%.
There are going to be some good deals out there in the next month. Your job is to be informed not only about the market, but also about your own needs.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
 
 
 
 
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