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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Today's expected RBA interest rate cut will once again be followed by speculation about what ANZ will do when it makes its independent interest rate decision 10 days later on Friday, May 11.
Since making the decision to go it alone, following the December 0.25-percentage-point rate cut, ANZ has been on a public relations crusade to explain and justify why it should make its own interest rate call independently of the RBA and why it has needed to raise interest rates twice (by six basis points each time) since December without prompting from the RBA.
Last week ANZ Australia CEO Phil Chronican wrote an entire column in the Fairfax media explaining why the bank needed to go it alone on interest rate announcements, including highlighting the fact that less expensive funding had matured and was replaced with “more expensive funding reflecting the current conditions in global markets”.
Chronican acknowledged “for most people this sounds complex” and that “many people have strong views about these decisions”, but he said it was “difficult to have an informed public debate about these issues when people of influence in the community are not aware of key facts or are willing to misrepresent them”.
While Chronican may be correct about ANZ’s funding position being misrepresented by “people of influence”, what is clear is that his attempt to explain the bank’s position is falling on deaf ears, with the bank taking all the heat each time interest rate announcements are made by the RBA.
Perhaps Fairfax business columnist Adele Ferguson said it best when she said the decision by ANZ to lift rates independently by six basis points on April 13 made it stand out “like a shag on a rock” after the other major banks did nothing.
Indeed, ANZ appears to be making few friends, regardless of how hard it tries to explain itself or how many colourful charts it includes in its monthly interest rate review statements.
Research carried out by social media monitoring company sentimentmetrics.com.au has found that negative sentiment towards ANZ went from 12% in the four weeks prior to its interest rate announcement to 19% following the announcement.
The public relations problems faced by ANZ were highlighted, somewhat tongue-in-cheek by Marcus Padley, founder of the Marcus Today stock market newsletter, who said the bank was getting “a lot of flak for no upside”.
“Every second Thursday of the month (before the Friday announcement), the ANZ board must be saying, ‘What are we doing here again?’” Padley said on the ABC’s Inside Business program.
“ANZ is the second cheapest of the major banks, but you would think they are nastiest bank out there,” he added.
Padley reckons the ANZ independent meeting on the second Friday of every month won’t last.
“It’s a seasonal thing to do with the GFC. Once everything relaxes, they’ll fall back in line with the RBA.”
Inside Business host Alan Kohler said the bank might be raising interest rates just to keep the public informed that it is making independent rate calls – certainly not a reminder that will be welcomed by any borrowers.
Also speaking on the same program, Crikey founder and Australian Shareholders' Association director Stephen Mayne said ANZ might get better PR if it announced an independent rate cut.
Nobody is likely to be holding their breath on that one.
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ANZ interest rates calls independent of the RBA a public relations disaster that won’t last

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There are 24 Perth suburbs with median house prices of $1 million or more according to Real Estate Institute of Western Australia statistics. Peppermint Grove eclipsed the other suburbs, nearly doubling the median price of number two suburb, Dalkeith. The data comes from sales in 2011.
<table width="388" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="144">
Suburb
</td>
<td valign="bottom" nowrap width="244">
Median House Price (December 2011)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Peppermint Grove</a>
</td>
<td valign="bottom" nowrap width="244">
$4,680,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
Dalkeith
</td>
<td valign="bottom" nowrap width="244">
$2,410,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Cottesloe</a>
</td>
<td valign="bottom" nowrap width="244">
$1,775,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">City Beach</a>
</td>
<td valign="bottom" nowrap width="244">
$1,750,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Nedlands</a>
</td>
<td valign="bottom" nowrap width="244">
$1,535,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Swanbourne</a>
</td>
<td valign="bottom" nowrap width="244">
$1,495,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Henderson</a>
</td>
<td valign="bottom" nowrap width="244">
$1,380,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Applecross</a>
</td>
<td valign="bottom" nowrap width="244">
$1,340,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Subiaco</a>
</td>
<td valign="bottom" nowrap width="244">
$1,300,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Claremont</a>
</td>
<td valign="bottom" nowrap width="244">
$1,250,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Mosman Park</a>
</td>
<td valign="bottom" nowrap width="244">
$1,250,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">North Coogee</a>
</td>
<td valign="bottom" nowrap width="244">
$1,230,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Mount Claremont</a>
</td>
<td valign="bottom" nowrap width="244">
$1,177,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Churchlands</a>
</td>
<td valign="bottom" nowrap width="244">
$1,150,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">South Perth</a>
</td>
<td valign="bottom" nowrap width="244">
$1,150,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Floreat</a>
</td>
<td valign="bottom" nowrap width="244">
$1,100,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Shenton Park</a>
</td>
<td valign="bottom" nowrap width="244">
$1,085,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Watermans Bay</a>
</td>
<td valign="bottom" nowrap width="244">
$1,080,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">East Fremantle</a>
</td>
<td valign="bottom" nowrap width="244">
$1,050,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Piesse Brook</a>
</td>
<td valign="bottom" nowrap width="244">
$1,030,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Salter Point</a>
</td>
<td valign="bottom" nowrap width="244">
$1,026,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">North Beach</a>
</td>
<td valign="bottom" nowrap width="244">
$1,023,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Attadale</a>
</td>
<td valign="bottom" nowrap width="244">
$1,000,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="144">
<a target="_blank" href="/news">Northbridge</a>
</td>
<td valign="bottom" nowrap width="244">
$1,000,000
</td>
</tr>
</tbody></table>
Source: REIWA
 
 
 
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awalsh-7Ub9EypybQ

The 24 million-dollar Perth suburbs

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Thankfully Paul Howes, national secretary of the Australian Workers Union, and Garry Weaven, chair of Industry Funds Management, have zero influence on economic policy. Last week, both made some absurd points and claims regarding monetary policy, the inflation target, the Australian dollar and the operations of the RBA. Both Howes and Weaven revealed the shallowness of their experience by showing little or no understanding of the critical importance of the inflation target. It is imperative that the inflation target remains in place because ongoing low inflation is the best thing policy makers can deliver if there is to be a boost to competitiveness, productivity and with those, employment and real wages. There is also zero chance that the RBA charter is going to change, at least under this government, nor will the inflation target change, nor will there be any material changes to how the RBA works. Howes’ and Weaven’s comments deserve criticism, as do others who say and write misguided, factually flawed or faulty economic analysis. The economy is too important for ill-informed commentary and misguided policy prescriptions. Which brings us to the point made by an ignorant and sometimes politically biased few that the RBA now is somehow being politicised, losing its independence or being lent upon by the government. That clearly is a fantasy. If it were true, the only way it would show up would be in the RBA having inappropriate monetary policy settings and not achieving its inflation target. There is no other way to even vaguely support the claim of political interference or undue influence. Is there any other way any such politicisation of the RBA board would show up? Clearly not, and only poor quality, inexperienced and/or biased commentators trying to get some attention would suggest that the RBA is structurally flawed due to any government decision or appointment. Let’s turn this around and look at some facts to see whether there ever has been any political influence on the RBA. Before starting, let’s agree with the unanimous assessment that a series of monetary policy changes starting today will not have a material impact on inflation for a year or two. There is no debate about the long lags between interest rate changes and the impact on the economy. Consider the only bad miss of the RBA in terms of its 2 to 3% target for inflation. That error of the RBA showed up in the period from the end of 2007 to the end of 2009 when the underlying inflation rate averaged a shocking 4.0% having hit a peak of 5.0% in the September quarter of 2008. That monetary policy error had its seeds sown during 2005 and was really compounded during 2006 and early 2007 when policy was too loose for too long. It must have been – there is no other explanation for such a bad miss on inflation. Recall that in 2005, with mortgage rates some 50 basis points lower than where they are today, the RBA delivered just one, piddling 25 basis point rate hike having left interest rates steady at very accommodative settings right through 2004. In 2006, the year started with monetary policy still accommodative and despite the massive upswing in the terms of trade and sharp falls in unemployment, the RBA dragged the chain with just 3 hikes in the year.  Only at the very end of 2006 did the mortgage rate reach neutral; that is, roughly where it is today. Clearly, the RBA delivered easy monetary policy for a very long three year period. It is unlikely that there was any direct political interference on the RBA over that time, but curiously, it was the Liberal Party appointed board of the RBA, including Governor Ian Macfarlane, that so badly blew the inflation target. Monetary policy was kept too easy in the period from 2005 to 2007, curiously when the Liberal Party was in office and when Prime Minister Howard and Treasurer Costello used monetary policy and interest rates in its campaigning and economic rhetoric in a way the current government is still a million miles from approaching. By the end of 2002, every member of the RBA Board with the exception of Frank Lowy, had been a Liberal Party appointment. Mr Lowy’s term ended in December 2005 meaning that during 2006 and up to the election in 2007, every RBA board member was a Liberal Party appointee. It was only when Glenn Stevens became governor, in September 2006, that monetary policy moved towards an appropriately tight setting. While Glenn Stevens was appointed by the Coalition, there were no other contenders for the role when Ian Macfarlane retired. To appoint anyone else would have been truly shocking.
Stevens quite forcefully delivered 5 interest rates hikes in his first 16 RBA board meetings as governor, including two in early 2008 when the financial crisis was rapidly unfolding. Finally, the RBA was acting to reign in inflation with a hugely hawkish approach. And to the credit of Glenn Stevens and the RBA, that policy approach worked with inflation back on target by the middle of 2010. The underlying inflation rate has been 2.75% or less since the middle of 2010 and it will be probably be close to, or at a 12 year low below 2.5%, when the March quarter CPI is released on April 24.  Unemployment has also recently edged up, fiscal policy has been tight, the world economy weak, yet the 'politicised' RBA has rates at the upper end of neutral and shocked the market in the early months of 2012 by not cutting interest rates. This is despite only 3 of the 6 outside board members being appointed by the Labor Party. And just getting back to the key point in this – if the RBA was being politicised, it would show up in monetary policy being too loose for too long and inflation building to a level above the target. The exact opposite is happening right now. In the last 20 years, there has only been one example where monetary policy has been too easy for too long and that was in the period from 2005 to 2007 when every member of the RBA board has been appointed by the incumbent government. Look at these facts and make up your own mind about the issue of politicising the RBA and monetary policy.
 Stephen Koukoulas is managing director of Market Economics and was former economics advisor to Prime Minister Julia Gillard. 
This article originally appeared on Business Spectator and <a href="https://www.marketeconomics.com.au/" target="_blank">Market Economics</a>.
 
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skouk-W92Y2kwjBG

Playing politics with the RBA: Stephen Koukoulas

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They are two of Australia’s biggest, yet less understood, companies: the lenders mortgage loss insurers, or “LMIs”: Genworth and QBE LMI. 
Both have estimated market values well in excess of $1 billion. Collectively they insure half a trillion dollars’ worth of Aussie home loans. And the recently deferred IPO of Genworth has suddenly brought the industry into focus. In particular, correspondents overseas have argued that this could be the “canary in the coal mine” for the Aussie housing market. 
But it is an odd time to be getting negative on this admittedly oblique industry. Australian Property Monitors reports today that Australian house prices rose by 0.9% in the first quarter of 2012 following the RBA’s two rate cuts in November and December. Unemployment is sitting at a historically low 5.2% and shows no signs of rising. And with the RBA all but certain to cut its cash rate by 50 basis points, which should deliver a net reduction in borrowing rates of about 75 basis points since November, conditions in the housing and mortgage markets are likely to improve further. Declining interest rates, low unemployment, and steady house prices are surely sanguine conditions for LMIs. 
Genworth Australia’s parent was planning on selling (only) 40% of the local business via an ASX listing in 2012. It was slated to be one of the biggest IPOs of the year. The explanation of the deferral of the IPO was tied to the expectation that there would be a “modest loss” reported by the Australian business in the first quarter of 2012. 
Yet it is not clear whether this decision was motivated by the modest loss, or just as much by the desire of the ailing US parent company to keep repatriating valuable dividends delivered by its Australian jewel. I’d suggest the latter is a very real possibility. 
In 2011 alone, the Australian business paid the parent $166 million in dividends. Since that time, there has been a material increase in premiums earned from the sale of insurance in Australia. 
The Australian business also has enormous excess capital. Standard &amp; Poor’s assesses that Genworth Australia’s total assessed capital before debt funding and reinsurance contracts, which further mitigate risk, is $3.3 billion. This is impressive because APRA’s minimum capital requirement for Genworth Australia is just $1.5 billion. The business’s formal Tier 1 capital is $2.3 billion, or over 1.5 times the minimum APRA wants. As the chart from S&amp;P below shows, Genworth’s capital ratios are substantially better than its main competitor, QBE LMI.
Click to enlarge
<a href="/images/stories/genworth.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/genworththumb.gif"></a>
What is more remarkable is that the Australian business has basically no debt at all. S&amp;P assesses total leverage to equal just 4.1%, with a single Lower Tier 2 loan of $140 million outstanding. 
This contrasts strikingly with the AA- rated major banks, which are heavily leveraged with substantial senior-secured (covered bonds), senior unsecured, subordinated and hybrid debt. The typical leverage ratio for the major banks is 15 to 18 times shareholder equity. Here S&amp;P notes that Genworth’s leverage (or lack thereof) is of “AAA” quality: 
“As of Dec. 31, 2011, GFMI's capitalization metrics continue to be very strong, with an S&amp;P capital model score maintained at 'AA,' and APRA MCR multiple of 1.55x. The company's leverage also remains well within our 'AAA' rating tolerance, with the A$140m 10NC5 subordinated debt issue representing 4.1% of total assessed capital.” 
Following the deferral of the IPO, S&amp;P issued no ratings action. Moody’s, on the other hand, put Genworth Australia’s rating “under review”. 
While S&amp;P assumes when giving the Australian business its “AA-“ rating that (1) the IPO doesn’t occur, (2) any reinsurance provided by the US parent, which is a declining minority of the Australian business’s total reinsurance, has zero value, and (3) that the housing market continues to remain “soft” with, importantly, no further interest rate relief, Moody’s has, relatively speaking, had a more negative view on the major banks, the LMIs, and the Australian housing market more generally. 
Notwithstanding their significance to the national economy, the business models of the two LMIs are not well understood. They are nevertheless quite simple. 
In short, Genworth and QBE LMI insure the risk of default on Aussie home loans. Collectively, they cover about $500 billion. Since there is a total of $1.23 trillion of home loans outstanding, the major banks, in effect, self-insure most of the default risk on the remaining $723 billion. The major banks are, therefore, mortgage loss insurers in addition to being deposit-taking and lending institutions. 
The LMIs do make interesting comparisons to the major banks. Unlike the major banks, they have basically no debt. They face no risk of a run on retail deposits, or the refusal of wholesale funders to refinance their debts. They have no exposures to the riskier corporate, personal, or commercial real estate lending markets (as judged by both default rates and APRA). And they have no non-core businesses that can introduce catastrophic risks (e.g., Asian expansion strategies). 
But what does a worst-case scenario for the LMIs look like? Tapping the parent’s US filings, we can look at Genworth’s total loans insured, the share of “bad” loans, and then compare these to the rest of the Australian home loan market. The next chart summarises the first part of this analysis.
Click to enlarge
<a href="/images/stories/genworth1.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/genworth1thumb.gif"></a>
At the end of December 2011, Genworth’s 90-day delinquency rate across its 1.4 million loans was only 0.55%. This represents a fall from 0.59% in the September quarter and 0.56% in the June quarter. Importantly, this delinquency rate is actually below the industry-wide level assessed by the RBA, which was 0.6% at the end of December. 
Genworth’s low delinquency rate is a little surprising given that LMI is assumed to normally only apply to high loan-to-value ratio (LVR) loans of 80% or more. In fact, Genworth also does a lot of portfolio-wide insurance. 
In December 2011, Genworth reported that the weighted-average LVR across its book of 1.4 million loans was 62%. Its geographic distribution of loans is also what you would expect, and in line with the major banks, as the third chart below shows. Only 22% of its loans were originated in Queensland, which is consistent with the state’s share of the overall mortgage market.
Click to enlarge
<a href="/images/stories/genworth2.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/genworth2thumb.gif"></a>
While Genworth’s Australian business has performed consistently well (e.g., during the GFC) and realised a strong increase in new net premium revenue over 2010 and 2011 (see next chart), its “loss ratio”, which reflects claims and provisions relative to premiums earned, had increased slightly over 2011. This is not a total surprise given the RBA’s decision to hike rates in late 2010, and the flat-lining of employment growth thereafter.
Click to enlarge
<a href="/images/stories/genworth3.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/genworth3thumb.gif"></a>
The explanation for the “modest loss” that is expected to be reported in the March quarter reiterates messages Genworth had communicated months earlier to the rating agencies. For example, S&amp;P commented prior to the deferral of the IPO that: 
“GFMI's operating performance has remained steady and in line with our expectations, with Dec. 31, 2011, results showing good year-on-year gross written premium growth of 8.6%. However, this was offset by a loss ratio of 49.5%, up from 43.3% a year earlier due to continued pressure from southeastern Queensland, and certain lenders accelerating the claims process to address aged arrears.” 
What does a realistic worst-case scenario look like? Despite the strong geographic diversification and relatively low LVRs in its portfolio, you could, in such a scenario, boost its delinquency rate seven times to, say, 3%, which is in line with the peak in the UK during the GFC. 
You could then assume that half these loans go bad, which would be about right. So there are full mortgage loss insurance claims on 1.5% of all loans insured. Today the average claim per loan is about $65,000. Let’s hike this to $100,000 per loan. 
Total claims in this scenario would then sum to about $2.2 billion, which is well below Genworth’s current capital of $3.3 billion. Thus without any new funding at all, it could cover this realistic catastrophe. It would, of course, need to raise about $400 million of new capital to meet its minimum APRA requirements. Yet since these claims would be strung out over a period of two to three years, this seems like a straightforward task. 
The LMIs’ business models have risk — but no more than a major bank.
Dr Elvis Jarnecic is a senior lecturer at the <a href="https://sydney.edu.au/" target="_blank">University of Sydney</a>.
 
 
 
 
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cknowlton-QnEa6ntUYP

Genworth no riskier than major banks despite Queensland exposure

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Last year marked the first time in a decade that there was a synchronised weakness in new housing starts across all eight states and territories.
And its not getting better with new home sales down to their lowest level in 18 years in March 2012, the voice of Australia’s residential building industry, the Housing Industry Association, claimed today.
Its chief economist, Dr Harley Dale, says leading housing indicators are still pointing to ongoing deterioration in already very weak new home building conditions.
"That situation is in turn having a major negative impact on manufacturing and services sectors," he says.
"It is not too late to turn the situation around.”
Click to enlarge
<img src="/images/stories/hiaapril30thumb.gif">
The HIA views any interest rate cuts as providing a helpful tonic to the residential construction industry.
But they aren’t the panacea for turning around weak housing conditions.
The HIA continues to advocate the importance of structural reform to new housing supply, suggesting there are simply too many excessive and inefficient cost obstacles to providing an adequate supply of new dwellings.
"Needless to say Australia's banks need to pass all official rate cuts on in full, as their actions to date on interest rates have damaged economic confidence and activity.
The latest HIA - JELD-WEN new home sales report, based on a survey of Australia’s 100 largest builders, showed a sharp decline of 9.4% in total seasonally adjusted new home sales in March 2012.
Detached house sales dropped by 9.7% while multi-unit sales fell by 6.9%.
Queensland suffered the biggest drop in March, with the number of seasonally adjusted new detached house sales down by 15.3%, and while poorly taken up, the end of the building boost today might not assist any recovery.
Next followed a 12% drop in Western Australia and fall of 9.7% in NSW.
The number of seasonally adjusted new detached house sales fell by 4.6% in Victoria and 4.7% in South Australia.
The figures are an estimate, with the month’s sample size capturing 14% of Australia’s new home building industry.
As I’ve been saying for some time, the lengthening absence of data indicating any housing construction recovery – and accompanying growth in credit – must be weighing on Federal Treasurer Wayne Swan during his May budget preparations. This isn't a blimp due to the introduction of the gst or triggered by the alarm of the gfc.
I suspect the federal government will throw some money at the problem so that it takes effect this year rather than save any announcement until the 2013 election year. The Federal Government will need to work in lockstep with state governments if they are to make any worthwhile advances.
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jchancellor-FAypfDUnLy

Further declines in new home sales across Australia must weigh on Treasurer Wayne Swan

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With uneven buyer demand, top-end auction offerings are trailing off in both the Melbourne and Sydney auction markets.
But an Edwardian weatherboard in Mayston Street, Hawthorn, listed through Marshall White and Jellis Craig, was emblematic of strength in the inner-Melbourne family home market. It sold for $1,965,000 after three bidders competed. It had a $1.83 million reserve and was Melbourne’s top sale.
Buyers’ agent Mal James says most Melbourne family homes at this price level have gone well this year.
“And we do have a stock shortage in April.”
He says the price reinforced his perception of the market’s strength and that $1.9 million was the market level for this home as there were three real bidders.
“This surprised me – yes, it's good land size, but I did not expect it to be quite so strong.
“But, again, this is a family home and tighter-than-anticipated stock levels says for the right home the market is far from dead.
“Prices have definitely stabilised from last year's falls for the moment for these types of family homes – absolutely no question about that,” James <a href="https://marketnews.com.au/auction-reviews/19236/29-Mayston-Street-HAWTHORN_EAST/" target="_blank">advised in his auction review</a>.
"The $1 million-plus inner-Melbourne market has little option but to remain solid for the moment, with universal demand for market priced homes and new supply at a trickle in April.
“On top of this, new stock levels appear well down on initial selling agent expectations for May.”
The top sale in Sydney was a two-bedroom home at Northbridge, on the lower north shore, which was offered for the first time in 25 years.
The $2.25 million sale through Ray White Northbridge followed 10 registered bidders, with five competing strongly.
But none of the three offerings over $2 million sold in Melbourne, with no bidders on a $3.7 million-plus Danks Street, Middle Park, offering.
A Nelson Road South Melbourne offering – $2.4 million vendor bid – was among the 45% of Melbourne’s $1 million-plus listings that were passed in.
Brisbane auctioneer Jason Andrew said while buyer registrations continued to rise, the number prepared to act had been falling.
"While the inner ring of Brisbane is performing better than the outer suburbs, the air of optimism that was tangible earlier in the year has recently been lacking. 

“News of an interest rate cut would normally spark enthusiasm in the property market, but despite last week’s speculation around a possible series of cuts on the back of the latest inflation data, we have not seen any change in buyer sentiment at this point,” Andrew said.

“There’s still buyer interest but it’s predominantly coming from the sidelines – most are unprepared to actually get in the ring.”

“Consumers are jaded – they don’t believe the banks are going to pass on any official cut anyway.”

"Buyers in today’s environment are only interested in value,” Andrew advised.

There were 217 auctions listed in Sydney, down on 316 the previous weekend and 352 the year before. In Sydney, the clearance rate was reported as 48.8%, down on 58% on the prior weekend, according to Australian Property Monitors, which is owned by Fairfax Media.
There were several districts faring well.
The Canterbury Bankstown district was strong, with 73% of its 21 listings being sold.
Some 55% of the 50 upper north shore were sold.
And 61% of the 38 in the city and east were sold.
In Sydney’s west was weak at 44%. The south west had 18 results with six finding buyers.
The NSW central coast had 17 results, of which seven found buyers.
The south of Sydney had nine sales from its 26 reported offerings.
The Melbourne residential auction market has been providing very consistent outcomes, with the weekend no different given its 60% clearance rate.
It compares to 59% last weekend.
It represents an improvement on the 56% on the same weekend last year.
The five Melbourne weekends leading up to Easter returned clearance rates in a very tight band between 58% and 61%, which indicates very consistent demand despite the fluctuations on volume and price.
It has dipped to 55% on one weekend since.
There were 520 weekend auctions reported to the Real Estate Institute of Victoria, with 310 selling and 210 being passed in, 130 of those on a vendor’s bid.
Announcements on Tuesday of the state budget and interest rates have the potential to improve consumer confidence, the economy and the property market over the coming months, REIV boss Enzo Raimondo says.
Next weekend the REIV expects around 670 auctions followed by 650 in a fortnight in Melbourne.
APM has 380 and 360 scheduled auction listings over the next two weeks across Sydney.
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Inner-Melbourne $1 million-plus family home market shows strength: Mal James

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Western Australian property developer Finbar has recorded residential sales of just over $100 million in its completed $160 million East Perth apartment project, Fairlanes.
<img style="float: left; margin: 5px;" src="/images/stories/fairlanes1.jpg">
The 27-level tower has 128 apartments, and 120 deposits have been taken, including one for a $2.5 million penthouse.
The most expensive penthouse, which has views of Rottnest Island and a price tag of $2.65 million, is yet to sell.
Finishing touches are being made to the project, and residents will start moving into the tower in three weeks.
So far the average sale price in the completed Adelaide Terrace development is $850,000.
The completed Fairlanes was launched on by WA Premier Colin Barnett on Friday, April 27 and has 7,000 square metres of office space over five levels plus 600 square metres of ground-floor retail and food space, of which about 3,600 square metres has been leased. Finbar will move its own corporate headquarters into some of the office space and retain the balance as an investment. The commercial area is valued at $53 million.
“The completion of Fairlanes is very well timed to benefit from the squeeze in Perth city vacancy rates and unrelenting demand from companies associated with the resources sector,” says Finbar managing director Darren Pateman.
The developer believes the remaining space and apartments will sell and lease steadily without the need for incentives.
<img src="/images/stories/fairlanes3.jpg">
“This will also help underpin the value of the retained commercial investment and provide a boost to the company’s reoccurring investment income. Revenue from successful settlements at Fairlanes coupled with recent revenue received from settlements from our ‘18 On Plain’ 29-apartment project will support an anticipated moderate increase in forecast profit from last year’s record profit of $24.03 million,” he says.
<img src="/images/stories/fairlanes2.jpg">
Finbar has produced eight high-rise apartment towers in WA since 2009 and has a further 10 buildings under construction in WA.
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andreadixon-oif3j7eKne

Finbar’s East Perth project Fairlanes complete and almost sold out

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Australian Property Monitors (APM) has released a list of results from 240 auctions in Sydney for the weekend of April 28. The clearance rate was 48.8%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
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po-LsXgBTHBmX

APM's 240 Sydney auction results showing a clearance rate of 48.8%

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John Symond, the founder and chairman of Aussie Home Loans, believes the Reserve Bank of Australia should cut rates by 0.5 percentage points tomorrow to stimulate growth in the non-mining sector of the economy.
"With the ANZ Bank lifting its mortgage rates recently and other banks seeking to do the same, no change or a drop of 0.25% will not do any good for the vast majority of Australians and businesses doing it tough," he says.
Symond says that weak home finance and retail figures are indicators that the economy is struggling with accelerating job cuts across Australia creating fear among consumers, who had reacted by "pulling in their horns."
"The Reserve Bank needs to provide stimulus for consumers to spend again, build or invest in property and take a holiday at home instead of capitalising on the high Australian dollars and travelling overseas.
"The Reserve Bank admitted last month that there is scope for a rate change in May as economic growth is slowing and concerns about unemployment are on the rise while recognising finally that we currently have a two-speed economy," he says.
Evidence of the lack of confidence among borrowers had been found in the surge of inquiries to Aussie from consumers doing their own financial or mortgage health checks.
But he told the News Ltd papers that it was vital that Australians become more vigilant and start asking questions about their mortgages, especially if the Reserve Bank doesn't act decisively at the May board meeting.
"Our research shows that more than 50% of our customers achieve up to a 0.75% saving by switching home loans," he says.
"Apathy is a killer for consumers getting a better deal and controlling their expenses, which will come under further pressure when the carbon tax kicks in on July 1," he says.
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 RBA interest rate cut of 0.5% needed: John Symond

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The cash rate will fall tomorrow and most likely by 0.25%.  The yield curve strongly suggests such.  As at the middle of last week – I do write these in advance – the 10-year government bond rate was 3.76%, while the official cash rate was 4.25%, and the somewhat wide difference suggests that the cash rate should fall.  This indicator is right about half of the time, while the average economist gets interest rate calls right just once every seven times.  So, it’s the yield curve for me, Sunny Jim.
Now, what does this mean for Australian housing?  Well, in the past it meant quite a lot, especially after a succession of interest rate falls.  Historically, house sales improved, new housing starts picked up, and end prices stabilised – and more often than not, rose.  And I still have the charts to prove it.
But over the last decade or so the connection between cheaper money and house market improvement has been broken.  And unless action is taken, then this circuit might be broken for good.
In short, residential property, and especially new stock, is taxed way too much and there have been far too many government-induced grants and incentives, such as building boosts and first-home buyer grants.  These have distorted the more normal property cycle, inflated demand and prices and have made the housing market far more cyclical than it used to be.
Despite mortgage rates falling by close to 1.5% over the past two or so years, new housing starts have continued to decline.
Sure there is at present a flurry of activity in several quarters<a target="_blank" href="https://www.propertyobserver.com.au/resources/government-property-grants-and-stamp-duty-concessions-the-expiry-dates-you-need-to-know/2012041054208"> as a variety of building incentives are about to close around the country</a>.  But all this has done is brought demand forward.  There will a “hole” in these markets for the next three to six months, maybe longer.  Sadly, many in the development industry will call for another quick fix, including further drops in interest rates, an increase in the first-home buyers’ grant or an extension of a building boost – you get the drift.
Only two things will lift new housing starts Down Under:
<ul>
<li>Increasing population growth.  While another drop in interest rates might temporarily boost new housing starts, the only real reason why housing starts would need to rise – under current conditions – would be to cater for higher levels of population growth. We need more migrants.</li>
<li>Changing the current conditions.  Increase the supply of raw land across urban Australia.  Reduce the time taken to get an approval.  Reduce the amount of unnecessary compliance needed to get a new residential development off the ground.  Allow the market to dictate demand, not urban boosters (or whatever they are being branded as at present). Have new property valuations based on rental return, and not on mostly second-hand and dubious comparisons.</li>
</ul>
And importantly, reduce taxation on new property – the residential building industry is being weighed down by excessive and ineffective taxes.
Work by the HIA shows that the total tax-take from new housing can be as much as 40% of the final price of a new home.  New housing is the second most heavily taxed business sector in Australia, and yet it still contributes almost $40 billion in tax revenue each year.  And regrettably, it’s the new home buyer who pays.
And here is the real sticking point – this $40 billion every year makes up one-eighth of the government’s revenue.  They are all hooked on the cash injection.
If you really want more new starts across the country, lift migration remove GST on new construction remove stamp duties on off-the-plan sales and reduce – dramatically please – the size of all levels of Australian government.
Now, let me turn my attention to the established resale market.
The biggest problem facing this market is choice.  There is just way too much.  There are close to 400,000 resales on the market across the country.  A more healthy supply would be about half this volume.  A 0.25% or even 0.5% drop isn’t going to magically make these properties enticing enough to buy.  Heck, I could argue that dropping the cash rate by 1% wouldn’t do too much.
Far too many of them are overpriced, have been for sale way too long, and too many of the vendors trying to sell them just haven’t got a clue.  Given how tight the vacancy rate is at present (1.7%), what many of these vendors should do is renegotiate their finance, take their property off the market, lock into a low fixed-interest rate for a couple of years and rent the property out.
Now if people really want or need to sell, then they should do the following things:
Understand what their dwelling is worth and accept its value.  In other words, meet the market.  Rip the bandage off once and move on.
Assign one good agent.  One, not two or three, just one.  Multi-listing is sales death in a buyer’s market.
Assign your agent a short time frame to sell the property.  I am talking about 30 days.  And get them to bring you signed contracts – not verbal offers.  You want to see paperwork.
You must present the property well.  If you were selling your car, you would have it detailed.  The same applies to your home or investment property.  Minimum budget is 1% of the sales price.  If you cannot afford this, don’t bother trying to sell it.
Ditto goes for promoting it.  Again, a 1% minimum spend and make sure you get your money’s worth.  Do not accept crappy photos via an agent’s iPhone (not that Apple does anything crappy!) or being stuck on page 12 on a realestate.com.au’s property search for your area or price range.  And you must put an asking price on the property!
For the month your place is for sale, your job is to make it look the best that it can and to promote it wisely to the appropriate audience. 
Just because the average home loan might be about $50 cheaper per month from tomorrow – and remember, interest rates cycle like nearly everything else in life – it does not mean that the Aussie housing market will be automatically better off.  That used to be the case, but not really anymore.  We have interfered way too much for such simple things to have much influence any longer.
Of course, nearly every talking head will disagree with what I have just written.  Real action is needed – not shifting deck chairs on the Titanic.
If you are in the property industry or trying to sell a property, don’t expect too much from a small drop in interest rates.  You are likely to be disappointed.
Fight for bigger and more permanent change.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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