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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Recently, Larry Schlesinger provided <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-to-bottom-out-in-2012-and-start-rising-from-2013-nab/2012041354255">commentary on the property market trending towards a “bottoming out” in 2012 and a “modest rise” in 2013 onwards</a>, based on a 300 respondent-strong survey commissioned by the NAB Bank.
Following this, I conducted my own survey of market sentiment in regards to 2012 through to 2013. I was able to collect 50 responses, and the outcomes were quite revealing.
The respondents include a variety of industry experts (estate agents, mortgage brokers, advisors, professional investors), along with non-investors (those interested but yet to take the plunge, and those who may not be interested in property investment but are renters or landlords themselves). There were just seven questions asked, with multiple answer choices for selection, as well as the option to answer with their own comments.
1) How would you describe the outlook for the remainder of 2012?
- 50% felt the market was 'Trending badly, with 41% agreeing it was 'A bit wobbly, but will improve'
- Less than 5% felt it was 'Doom and gloom'. Others responded with their own comments, stating it was a 'buyers’ market' and that it was 'stagnant, but on the way towards upswing'.
2) And what about 2013? 
- 67% agreed the market would 'improve a little bit', with 30% stating it would 'stay about the same as it is now'
3) Some believe the AU market is 'flat'. If so, are some types/sizes of cities more flat than others? 
- 18% felt major metro cities were most flat (i.e., Sydney, Melbourne, Brisbane), with 32% feeling mid-size metro cities were most flat (i.e., Perth, Adelaide, Gold Coast)
- Only 9% felt that 50,000 to 500,000 size cities were most flat (i.e., Canberra, Darwin, Hobart), with 27% feeling regional towns of less than 50,000 were most flat (e.g., Tamworth, Dubbo, Kalgoorlie).
- 22% believed that all markets, regardless how big or how small, were completely flat.
I then asked the audience how they came to these opinions – so, what kind of media or information had they consumed to draw these conclusions? The results were quite interesting and really supported the notion that mass media, trusted colleagues, and specific due diligence were better regarded than specialist media!
1) What outside influences helped to inform your opinion? 
-A whopping 54% said mainstream media (generic news/current affairs, radio, metro newspapers like SMH/Age/West Australian, etc) influenced their opinions about the state of the property market, a frighteningly high statistic!
-29% preferred specialist media sources specific to property investment (specific radio/TV programs to this, specialist magazines and books, specialist published websites)
- A massive 54% relied on the trusted word of informed acquaintances (family members with experience, mortgage brokers/accountants/advisers, academics)
- Just 8% trusted blog-based commentary, and 4% listened to 'untrusted' associates (any comments heard in passing, from any source/stranger)
2) If any of these information sources mentioned the market was 'picking up again' or 'showing signs of improvement', which would you trust most? 
- The response to this was very even; with the biggest group (33%) mentioning news feeds on sites like RealEstate.com.au and Domain.com.au as the most trusted, followed by trusted informed acquaintances (29%), specialist media outlets (29%), and mainstream media outlets (29%)
- 13% also trusted macroeconomic reports in mainstream media (so, the 'economy' improving and positive talk about our 'currency getting stronger'). This is interesting because in my view, the property market runs independently to variables such as these.
- Interestingly, many comments were also added, mentioning wage growth rates, interest rate changes and other economic factors as being the biggest indicators of the real estate market changing.
Lastly I asked some questions regarding the community's interest in purchasing either an investment property or a home to live in, either this year or 2013. Here are the responses to both:
Whether or not you currently own property of any kind; would you consider buying an investment property or a home to live in, this year or next? 
- 'Yes, certainly' - 25% (investment property), 42% (home)
- 'Most likely' - 21% (investment property), 13% (home)
- 'Maybe, maybe not' - 29% (investment property), 13% (home)
- 'Probably not' - 8% (investment property), 25% (home)
- 'Certainly not' - 17% (investment property), 8% (home)
So, what does the community make of all this sentiment?
If I could add my two bits' worth; I'd suggest the market feels that despite flat growth and some areas trending badly, there is still a strong desire to enter the property market, not only as a home owner but also keenly as an investor, this year and moving into 2013. From a media perspective, I'm also concerned at the high volume of respondents placing their reliance in mainstream/generic media sources and not specialist media and the blog community around them.
I'd be keen to hear the thoughts of others regarding these subjects.
Lastly, I was recently a participant in a Swinburne University study recently on <a target="_blank" href="https://www.propertyobserver.com.au/landlords/the-pros-and-cons-of-buying-your-first-property-as-an-investment-and-continuing-to-rent/2012031153777">"renter investors".</a> If you would be interested in participating in a 30-minute interview, please email <a target="_self" href="mailto:4121139@student.swin.edu.au">Ailsa McPherson</a>.
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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cmcevoy-Go82SmsJA9

Real estate industry experts say the market is flat but want to get into it anyway

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Tomorrow I predict the Reserve Bank of Australia is going to cut official interest rates by either 0.25 percentage points or 0.5 percentage points.
Look at the official figures. The Reserve Bank follows a whole lot of economic data, but the number it focuses on is inflation, taken from the Consumer Price Index.
The March quarter CPI came out last Tuesday, and it printed an inflation number well below what most economists were thinking.
The Reserve Bank is bound to use monetary policy to keep inflation in the target range of 2% to 3%. And the March CPI means core inflation becomes around 2.2%.
When this is the trend, the economy might need a kick-start, by reducing the price of money – the cash rate – and hoping that Australians will spend more.
There are other indicators that the RBA could be looking at. I call these my indicators of the “real economy”.
I talk to business owners and I look at the “for lease” signs, the “closing down sale” signs and the “50% off” specials in shop windows.
I look for empty shops, car yards with no people in them and bank boards on the pavement that spruik their deposit rates, not their variable mortgage rates.
I look at the newspapers: who’s being laid off? Car workers and bank staff.
These indicators tell a story of struggling businesses and cautious consumers. This sort of dynamic can become a nasty spiral if it’s not broken at the right time, because consumers become more cautious with their money and businesses wear the consequences, having to lay off staff, which feeds greater consumer uncertainty and feeds a worse climate for businesses.
With my view of the real economy and the CPI and inflation figures, I think it’s time to break the spiral. When you have large concerns such as Toyota and Harvey Norman talking about a downturn in consumer demand, you have to multiply that stress several times to glimpse what the average small business owner is going through.
It’s a dangerous position, because our 3.5 million business owners are our biggest employers. We can cut the cash rate, making borrowing easier for business owners and easier for householders.
But while you can’t affect what the Reserve Bank does, or what the major banks do, you can use a rate cut to your advantage. If you’re not financially stressed, you can continue to make your normal repayment even after the bank cuts your variable rate.
A 0.25-percentage-point cut on a 30-year $300,000 loan at 7.4% will save you just over $50 a month, worth $18,000 over the life of the loan. A 0.5-percentage-point will save you $101 per month, worth $36,000 over the life of a loan.
You can’t change the RBA or your bank, but you can put the interest rate savings straight back into the mortgage, or put them into a high interest bearing fixed interest account. You can’t change the world but you can make good decisions when the cash rate drops.
Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a href="https://twitter.com/#!/markbouris" target="_blank">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
 
 
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mbouris-tauSvXGAM2

It is time for an RBA interest rate cut

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Five out of six Queensland 7-Eleven service stations have sold at auction, continuing the strong appeal of the combination petrol station and retail store assets.
Prices ranged from $1.5 million for a 2,365-square-metre 7-Eleven service station in the north Brisbane coastal suburb of Sandgate to $2.35 million paid for a 3,700-square-metre service station in Springwood, south of Brisbane.
Yields ranged from 5.67% to 7.73%, similar to the 5.75% to 7.7% yields achieved following the recent successful auction of <a target="_blank" href="https://www.propertyobserver.com.au/retail/self-funded-retirees-continue-to-snap-up-nsw-7-elevens-service-stations-drawn-by-high-yields/2012032754031">10 NSW 7-Elevens</a>, where prices ranged from $2.2 million to $3.9 million.
All Queensland properties sold with new 15-year leases with three options of five-year renewals and guaranteed 4% annual rent increases.
The Queensland properties were marketed by Sam Hatcher and Ben McGrath from Jones Lang LaSalle.
Two of the properties – Woodridge and Springwood – sold at below the estimated taxable land value.
McGrath says this means land tax might be a bit high on these two sites due to their large land area. The Woodridge site measures over 5,000 square metres and the Springwood site over 3,700 square metres – the two largest properties among the batch of six.
Figures released by the Queensland Valuer-General show that Logan City (where the Woodridge service station is located) has experienced an 8.9% decline in industrial land values to a median of $380,000 while industrial land values in the Scenic Rim Shire, where the Springwood service station is located, have increased by 11.1% to a median of $250,000.
 
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="90" valign="top">
Location
</td>
<td width="94" valign="top">
Address
</td>
<td width="85" valign="top">
Size
</td>
<td width="84" valign="top">
Annual Rent
</td>
<td width="83" valign="top">
Estimated rateable land value
</td>
<td width="101" valign="top">
Sale price
</td>
<td width="69" valign="top">
Yield
</td>
</tr>
<tr>
<td width="90" valign="top">
Woodridge
</td>
<td width="94" valign="top">
1 Kingston Road
</td>
<td width="85" valign="top">
5,072 sqm
</td>
<td width="84" valign="top">
$136,000
</td>
<td width="83" valign="top">
$2 million
</td>
<td width="101" valign="top">
$1.87m
</td>
<td width="69" valign="top">
5.67%
</td>
</tr>
<tr>
<td width="90" valign="top">
Springwood
</td>
<td width="94" valign="top">
53 Springwood Road
</td>
<td width="85" valign="top">
3,702 sqm
</td>
<td width="84" valign="top">
$170,000
</td>
<td width="83" valign="top">
$2.4 million
</td>
<td width="101" valign="top">
$2.35m
</td>
<td width="69" valign="top">
5.70%
</td>
</tr>
<tr>
<td width="90" valign="top">
Marsden
</td>
<td width="94" valign="top">
79 Chambers Flat Road
</td>
<td width="85" valign="top">
3,500sqm
</td>
<td width="84" valign="top">
$170,000
</td>
<td width="83" valign="top">
$1 million
</td>
<td width="101" valign="top">
$2.05
</td>
<td width="69" valign="top">
7.68%
</td>
</tr>
<tr>
<td width="90" valign="top">
Sandgate
</td>
<td width="94" valign="top">
86 Rainbow Street
</td>
<td width="85" valign="top">
1,248sqm
</td>
<td width="84" valign="top">
$120,000
</td>
<td width="83" valign="top">
$640,000
</td>
<td width="101" valign="top">
$1.5m
</td>
<td width="69" valign="top">
7.25%
</td>
</tr>
<tr>
<td width="90" valign="top">
Strathpine
</td>
<td width="94" valign="top">
273 Gympie Road
</td>
<td width="85" valign="top">
2,365sqm
</td>
<td width="84" valign="top">
$175,000
</td>
<td width="83" valign="top">
$920,000
</td>
<td width="101" valign="top">
$2.23m
</td>
<td width="69" valign="top">
7.73%
</td>
</tr>
<tr>
<td width="90" valign="top">
Nambour
</td>
<td width="94" valign="top">
922 Nambour Connection Road
</td>
<td width="85" valign="top">
1,821sqm
</td>
<td width="84" valign="top">
$190,000
</td>
<td width="83" valign="top">
$270,000
</td>
<td width="101" valign="top">
Still available
</td>
<td width="69" valign="top">
--
</td>
</tr>
</tbody></table>
 
Last year about $90 million worth of 7-Elevens were sold in and around Sydney and Melbourne.
Investors paid <a target="_blank" href="https://www.propertyobserver.com.au/retail/sales-of-7-elevens-during-2011-secure-investors-yields-of-between-4.6-and-8.5/2011112752554">between$1.6 million for a 1,900-square-metre service station in Bayswater East in Melbourne up to $4.6 million for a 2,824-square-metre site in Turramurra</a> in 2011.
 
 
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lschlesinger-FZcF9M3vE6

Five out of six Queensland-based 7-Eleven service station sell as one further Melbourne store listed with $2.5 million hopes

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The NSW state government has rejected the request for fast-tracking approval of the 240 hectare Jack Nicklaus Golf Course housing project by Capital Corporation at Rothbury.
The review has also knocked out a request to fast-track 142 hectares at The Vintage owned by Stevens Holdings. They will now progress as a normal development application through local councils.
The two applications were among the 43 submitted earlier this year by landowners after being invited by the state government which indicated worthy projects would bypass councils processes for rezoning if deemed suitable for some of the thousands of new houses needed on Sydney’s fringe and inner metropolitian.
In what was deemed a radical centralised approached to quickly increase home building numbers, the government initiative was based on claims Sydney has been building barely two-thirds of the 25,000 homes needed each year.
The government established a committee, run by the Premier's Department, to assess the nominated sites in January.
The 43 landowner-nominated sites, which identified more than 12,000 hectares of property, mainly on Sydney's fringe, enough land for more than 100,000 homes, has now been cut back to 31 sites. The former Clydeburn Marshalling Yards site covering 14 hectares at Auburn has been dropped from the list, along with Mir Group’s 30-hectare Kellerman Drive estate at St Helen’s Park, which locals claim is home to koalas, swamp wallabies and wallaroos. But Mir’s controversial plans for development of a 164-hectare development in the Blairmount area has made it to round two of a fast-tracked application process.
Assessment is also continuing on all 10 sites nominated in Wollondilly Shire, all four applications in Camden and all two applications in The Hills Shire.
Greens MP David Shoebridge says the government scheme was gifting developers "spot rezoning opportunities and cash windfalls" rather than conducting strategic planning for housing near infrastructure.
The general manager of Wollondilly Shire Council, Les McMahon, said developer proposals covered more than 4,000 hectares for rezoning, with only three sites in the council's new growth strategy.
"Under our growth strategy we would get 10,000 more sites [houses] over 20 years… This proposal increases that by another 26,000 [houses]," McMahon told the local press.
Stephen Albin, chief executive of developer lobby group the Urban Development Institute of Australia, hailed the scheme on its announcement as a stimulus that would fix up the massive supply problems in NSW for the last decade.
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jchancellor-FAypfDUnLy

Jack Nicklaus Golf Course among potential NSW developments putted back to councils for approval

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Construction has begun on the last of 20 “black holes” in Sydney’s Chinatown that were formerly part of Paddy’s Market, as Ausbao’s The Quay development gets under way.
The 270-apartment complex launched on Saturday, and CBRE director Murray Wood told Property Observer nearly 200 sold on the day. He says he expects more to sell today.
<img src="/images/stories/thequay9.jpg">
Of these, about 55% sold to owner-occupiers and many to locals, according to the Australian Financial Review, which reports that any unsold stock will be marketed in Hong Kong after May 7.
The agents report that buyers queued up from seven in the morning, and buying activity was "frenzied" once doors opened at 7.30am. Buyers have a five-day cooling-off period to change their minds.
<img src="/images/stories/thequay8.jpg">
Chinese-backed Ausbao Group bought the site at 61-79 Quay Street in 2009 for $38.38 million, according to RP Data, and has plans for a two-tower, $280 million development.
<img src="/images/stories/thequay1.jpg">
After purchasing the site the developer held a design competition, and Sydney City Council granted WMK Architecture’s winning entry 10% “bonus” floorspace because of its environmental features and ability to re-activate public spaces on the long-dormant site.
<img src="/images/stories/thequay5.jpg">
The site was the poultry section of Paddy’s Market from 1912 until the 1950s (historical photo above), and was a retail warehouse for a time. The building burnt down in 1985, leaving just a portion of the façade, and in the late 1980s and early 1990s recession projects to revitalise the site were abandoned.
It has been a car park in recent years, and is bounded by Quay Street, Thomas Street and Thomas Lane.
<img src="/images/stories/thequay2.jpg">
The Quay development will incorporate the façade of the former warehouse and will include 255 car spaces, three retail levels and copious bike parking along with the residential component. 
Apartments will range in price between $390,000 and over $1.7 million, according to marketing agents CBRE, which notes that the prices are not finalised yet. One-bedroom apartments will range between 36 and 64 square metres internally. Most will come with car spaces and some will include studies.
<img src="/images/stories/thequay3.jpg">
The two-bedroom apartments in The Quay will range from 76 to 88 square metres and will all include at least one car space, and the three-bedroom offerings will range between 104 square metres and 131 square metres internally. All the three-bedroom units will come with two car spaces.
CBRE head of residential project David Milton says the car spaces may be unnecessary for residents’ day-to-day life.
“We’re sure businesspeople and working couples will like the convenience of living in a walk-to-work situation, but if they do need to travel there is light rail and buses virtually outside the front door and Central Railway just across the road,” he says.
“This is certainly one location in Sydney where you can do without a car.”
<img src="/images/stories/thequay4.jpg">
A terrace garden will connect the two towers, and it will also feature an indoor/outdoor gymnasium.
“We introduced elements previously only seen in prestigious hotels, which gives The Quay an unique architectural point of difference over other residential developments,” says WMK managing director Greg Barnett.
“The geometric glass, aluminum and louvre facades embrace strong vertical and horizontal planes, and the subtly different architectural expression of each tower reflects the diversity of the inner city Haymarket precinct. You could say the buildings have different personalities within a common language.”
The interiors have been designed by Smart Design Studio and are set to be both unconventional and striking.
““Our concept is ‘life beautifully packaged’, and we’ve taken inspiration from the world of luxury brands,” says Smart Design Studio founder William Smart. “We’ve foregone the overhead cupboards, white polyurethane joinery and blond timber accents in order to create a special place that is crafted and unique. This concept pursues the idea that things that surround us can create the mood of a space, just like a stage set builds the scene that transports us to another world.”
<img src="/images/stories/thequay6.jpg">
The buildings will include sustainable extras like plantation-grown timber, eco-friendly building services and a gas heated central hot water system.
The development will be directly opposite the University of Technology Sydney’s Haymarket campus, where <a target="_blank" href="/news">Australia’s first Frank Gehry-designed building is due to be built</a>.
<img src="/images/stories/thequay7.jpg">
Construction began on the development a few weeks ago and is due to be completed in mid-2014.
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cknowlton-QnEa6ntUYP

The Quay development on long-dormant Sydney Chinatown site sells well in first weekend

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With underlying inflation figures coming in considerably lower than expected at 0.35% for the quarter and 2.15% for the year, the lowest in 13 years, the Reserve Bank will have little choice but to cut the cash interest rate at their up-coming May meeting.
I have said it back in February, that a further cut should have taken place, followed by another in March and April.
Bringing the interest rate down would have cemented consumer confidence, increase spending and motivated property market activity, I think the RBA got it wrong.
With the consumer price index moving up by just 0.1% for the first three months of 2012 and 1.6% for the year until March, the lowest since the 2009 GFC, the RBA’s decision should not be whether to reduce the rate, but by how much.
While lifting CPI prices on services such as electricity, childcare and water/sewerage, all over 9% increase, place extra pressure on consumers, a considerable interest rate cut would not only ease the situation, but improve consumer confidence, especially in view of the pending introduction of the carbon tax in July.
Since failing to cut the interest rate at recent RBA meetings, I anticipate cuts of up to 1% over the coming few months, which, if passed on by the banks and lenders, would make a considerable difference to existing borrowers and encourage first home buyers into the market.
If the RBA were to reduce the cash rate to 3.25% and banks did pass this fully onto consumers, on a $300,000 mortgage the reduction in repayments would be $250 per month. Surely, this would enhance construction, retail and property sector activity, providing a much-needed boost to our economy.
Robert Projeski is a leading property finance expert and the founder and managing director of <a href="https://%20www.amo.com.au" target="_blank">Australian Mortgage Options</a>. He has appeared on radio and TV and written extensively on property and finance matters.
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rprojeski-4QFJisNwt8

RBA interest rate cut is now a must

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Before yesterday the last time the RBA reduced interest rates by 50 points or more was in February 2009, when it trimmed the cash rate by 100 basis points t0 3.25%.
The February 2009 rate cut was the fourth in a series of successive big rate cuts following the GFC, during which the central bank cut a cumulative 375 basis points from the cash rate of 7% in August 2008.
An even longer series of big rate cuts occurred in the early 1990s following the 1991 recession.
There have been nine smaller interest rate cuts of 25 basis points over the last 22 years.
Over this time the RBA has cut rates 35 times and raised them 27 times.
Here’s a rundown of when rate cuts of 50 basis points or more have taken place:
100 basis points
February 2009 – cash rate down to 3.25%
100 basis points
December 2008 - cash rate down to 4.25%
75 basis points
November 2008 - cash rate down to 5.25%
100 basis points
October 2008 - cash rate down to 6%
50 basis points
April 2001 - cash rate down to 5%
50 basis points
February 2001 - cash rate down to 5.75%
50 basis points
July 1997 - cash rate down to 5.00%
50 basis points
May 1997 - cash rate down to 5.5%
50 basis points
December 1996 - cash rate down to 6%
50 basis points
November 1996 - cash rate down to 6.5%
50 basis points
July 1996 - cash rate down to 7%
50 basis points
July 1993 - cash rate down to 4.75%
50 basis points
March 1993 - cash rate down to 5.25%
75 basis points
July 1992 - cash rate down to 5.75%
100 basis points
May 1992 - cash rate down to 6.5%
100 basis points
January 1992 - cash rate down to 7.5%
100 basis points
November 1991 - cash rate down to 8.5%
100 basis points
September 1991 - cash rate down to 9.5%
100 basis points
May 1991 - cash rate down to 10.5%
50 basis points
April 1991 - cash rate down to 11.5%
100 basis points
December 1990 - cash rate down to 12%
100 basis points
October 1990 - cash rate down to 13%
100 basis points
August 1990 - cash rate down to 14%
100 - 150 basis points
April 1990 - cash rate down to 15% to % 15.5%
50 basis points
February 1990 - cash rate down to 16.5% to % 17%
50- 100 basis points
Jan 1990 - cash rate down to 17.00% to % 17.5%
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The RBA’s biggest interest rate cuts: a timeline since 1990

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Buyers and sellers placing belief in free online web valuations when estimating envisaged house price values are more often than not being misdirected – with serious over- and under-estimating being given.
A survey of weekend auction results across Sydney and Melbourne showed value estimates by real estate portal <a href="https://onthehouse.com.au/" target="_blank">OnTheHouse.com.au</a> were askew 67% of the time.
Of the 80 auction results analysed, 54 valuations were incorrect, with some actual sale prices up to 55% off the pre-auction valuation range given by OnTheHouse.com.au.
Just 26 sales actually fell within the wide valuation band.
Valuations are rated by accuracy as “good”, “moderate” or “rough”. There is a 20% difference between highest and lowest limits of “rough” estimates.
Managing director and chief executive officer of OnTheHouse.com.au Michael Fredericks says the valuations should only be used as a starting point.
“We call it a guesstimate, it’s not a valuation service. It’s designed to be a useful tool to be played with and utilised by members of the public and industry to try and get a better informed view on property prices and values. But it is a work in progress,” he told Property Observer.
“What we seek to do is to provide some transparency to the public around real estate prices and values where it’s a largely uninformed audience, unlike other industries like equities.”
The valuation tab on the website encourages users to “use onthehouse's Property Profile Reports to determine the property value for an individual property, or properties in a particular suburb”.
However the fine print underneath reads: “Displayed guesstimates, agent opinions and user-generated guesstimates are not a valuation of a property”.
According to Google Ad Planner, the website is the sixth most visited Australian property portal for unique users. In March figures showed more than 1 million unique visits to the site, a 850% jump between February 2011 and February 2012.
Free property valuations is one of the main services offered by the ASX-listed company, in an increasingly competitive industry offering real estate data to property consumers.
The founder of property commentary website <a target="_blank" href="https://propertyportalwatch.com">propertyportalwatch.com</a>, Simon Baker, looked up his house on the website and was shocked to find it 55% undervalued based on his estimates.
“Either I have massively overpaid for the property and the bank has no idea, or the onthehouse.com.au database is not as accurate as it could be when it comes to my property,” Baker writes.
“If you are going to build a business around property valuations, much as Zillow and Zoopla has done, you have to get it right. Not 100% right, but at least in the right ballpark. You only have one chance to impress a user, and if the information provided is questionable, the chances of them returning are low.
“If you say you have property valuations – make sure they are accurate (or as accurate as possible).”
Fredericks concedes that tool isn’t perfect, but he says it provides a starting point for people to start their valuations.
“It’s a broad challenging task, which is a process that can’t be achieved overnight,” Frederick says.
“It’s a tool using available information to be used by members of the public and property professionals to empower them and provide informed views around values.
“The appropriate behaviour for a buyer looking to form a view on what they should pay for a house is go and talk to real estate professionals.”
“The key point to understand here is, particularly in the Australian market, there are holes in the market. There isn’t sufficient aggregated market data to expect accurate estimates across the whole market.”
In Sydney a survey of 44 auction results shows just 14 sat between the valuations given, while 19 sold for more than the highest valuation and 11 sold for less than the lowest valuation.
The most over-valued Sydney property was 5 Dwyer Avenue in Blakehurst, which sold for $700,000. It was valued between $964,400 and $1,228,400. This is a difference of $264,400 from the lower valuation, or 27% below the sold price. The difference from the higher estimate is 43%.
The most under-valued Sydney property was 44 Womerah Avenue in Darlinghurst, which sold for $1.7 million. It was valued between $1.15 million and $1.22 million. This is a difference of $480,000 from the upper valuation, or 39% higher. The sold price is 42% higher than the lower valuation.
Agent Chris Chung who sold the house says people need to use other sources.
“Buyers need to look at what else has sold in the area and take other things account. But everyone has their own opinion of what a house is worth.”
In Melbourne a survey of 36 auction results showed 12 sat in the valuation range, 12 sold for more than the highest valuation and 12 sold for less than the lowest valuation.
The most under-valued Melbourne property was 26 Grace Street in Malvern, which sold for $1,815,000. It was valued between $1,040,200 and $1,172,200, which is $642,800 or 55% more than the highest valuation. It is 62% higher than the lower end of the valuation range.
The most over-valued Melbourne property was 39 Reed Street in Albert Park, which sold for $940,000. It had been valued between $1,127,400 and $1,197,400, a difference of $187,400  or 17% from the lower valuation. 
OnTheHouse Ltd was listed on the Australian stock exchange in June last year, consolidating the onthehouse.com.au website and software companies PortPlus and Console. After the listing the company purchased a 50% stake in data company Residex.
According to a June 2011 RBS Morgans report available on the website, the site’s “core expertise is the collation, cleansing and linking of data from multiple sources to provide customers with a reliable, convenient and freely accessible means of obtaining extensive property and valuation information”.
“In our view, OTH’s competitive advantage is derived from the size, depth, scope, accuracy and timeliness of its database, which is offered free to consumers.”
Fredericks says the next stage for the website is to encourage more user interaction in the valuation process.
“The next phase is far more engaged tools where property owners and agents can interact and submit content and improve and enhance the guesstimate tool.”
“We’re building windows underneath for owners, estate agents and valuers to provide content from their own view.
“And in the future releases we’re putting education requirements into it with some more explanation around what the product is and how it’s generated.”
 
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awalsh-7Ub9EypybQ

DIY website property valuations mostly askew

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Melbourne’s property market has staged a surprise turnaround in the March quarter, with the median house price up 1.6% to $529,00, while Sydney has met most analysts’ expectations of incremental growth of 1.4% to $641,000, according to the latest house price report from Australian Property Monitors (APM).
The improvement in the Melbourne house price was helped by a revision to the December quarter data from a median of $538,000 to $521,000. Sydney's December median house price was revised down from $637,000 to $632,000
Australia’s two biggest cities were the strongest mainland performers during the quarter as house prices increased nationally by 0.9% on the back of increased buyer and seller confidence at the start of 2012.
There was a small increase in Perth house prices of 0.1% over the quarter to a median of $531,000 following a similar increase in the December quarter.  The Perth December quarter house price was revised up from $522,000 to $530,000.
There were small house price decreases of 0.3% in Brisbane ($433,000) and Adelaide ($437,000), with the Queensland capital remaining the most affordable of the mainland capital cities – registering a median house price below Adelaide for the second successive quarter.
The Brisbane December quarter median house price was revised up from $426,000 to $434,000.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/apmapril27.gif"><img src="/images/stories/apmapril27thumb.gif"></a>
“The Perth, Brisbane and Sydney markets remain the best prospects for growth over 2012, and although Melbourne’s performance has been encouraging so far this year, this may prove to be short-lived if the Victorian economy continues to deteriorate,” says Dr Andrew Wilson, senior economist at APM.
He attributed the improvement in median house prices in most capital cities over the March quarter to “increased buyer activity together with rising auction clearance”.
Wilson says the first three months of data are positive signs for most Australian housing markets, “with the likelihood that buyer and seller confidence will continue to rise in 2012 after a subdued 2011”.
Over the past 12 months, Sydney has been the strongest mainland housing market with prices down 0.9% while Brisbane (4.1%) just shades Adelaide (3.9%) for the weakest performing markets over this period.
Sydney is also benefiting from a return of investor activity.
Wilson says ABS housing finance figures show that NSW is the only state to be tracking higher on investor loan activity than in 2010, “an impressive early result for confidence in that market”.
Among the smaller capital cities Darwin experienced a strong bounce in house prices which rose 6% to $629,000 – only $12,000 less than the median Sydney house price. The Darwin December quarter house price was revised up from $579,000 to $593,000.
House prices rose in Canberra (0.9%) and Hobart (1%) over the quarter.
Unit prices remained virtually flat with just 0.1% growth, with Sydney also the standout performer with prices up 2.5% to $462,000. The Sydney December quarter unit price was revised up from $449,000 to $451,000.
The Brisbane and Adelaide unit markets were particularly weak, with quarterly declines of 5.4% and 5% respectively, dragging down Brisbane’s median unit price to $339,000 and Adelaide’s to $286,000. The Brisbane December quarter unit price was revised up from $354,000 to $358,000. 
Melbourne unit prices continued to fall, with prices down 2.1% to $389,000. Melbourne unit prices are down 5.1% year-on-year. The Melbourne December quarter unit price was revised down from $400,000 to $389,000.
The more volatile Hobart unit market increased by an impressive 11% to $275,000 over the quarter, following no change in prices in the December quarter and a decline in the September quarter.The Hobart December quarter unit price was revised up from $226,000 to $247,000.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/apmapril271.gif"><img src="/images/stories/apmapril271thumb.gif"></a>
The weakest unit market over the past 12 months has been Brisbane, with unit prices down 8.8% followed by Adelaide with a decline of 6.6%.
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Sun breaking through property gloom as Melbourne and Sydney markets show signs of revival: APM 

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Being within walking distance of trains, buses, shops, schools and restaurants is being promoted as a key feature of new inner-city residential development Bravo in Melbourne at the same time as real estate group Harcourts has begun including walkability maps with all its residential listings. 
<a target="_blank" href="https://www.propertyobserver.com.au/developments/carlton-parkside-project-bravo-sells-24-apartments-in-first-three-weeks/2012042054370">Bravo, a 118-apartment project to be built over 11 levels by Vaughan Construction</a>, achieved a “walk score” of 97 out of 100 based on its location at 103 Pelham Street in Carlton on the northern edge of the Melbourne CBD. 
Bravo achieved its “walker’s paradise” rating on Walk Score, a US-based website that ranks properties and suburbs from zero (car-dependent) to 100 (walker's paradise) based on their walking distances from a diverse set of nearby amenities. 
“Certain categories are weighted more heavily than others to reflect destinations associated with more walking trips. In addition, road connectivity metrics such as intersection density and average block length are factored into the score,” explains Walk Score. 
It doesn’t include the suburb's distance from the city centre in its overall score, only the local neighbourhood. 
Rankings are compiled from a variety of data sources such as <a href="https://www.openstreetmap.org/" target="_blank">Open Street Map</a>, local business listings, and public data sources such as parks and schools. 
The default Australian categories are restaurants, coffee shops, grocery stores, shopping centres, schools, parks, bookstores, pubs, entertainment venues, banks, post offices, hospitals, fitness centres, bike shops and childcare facilities. 
Home buyers can also add their own categories, for example pharmacies, optometrists and golf courses. 
Michael McNamara from valuation firm Herron Todd White say a walkable address could potentially attract a 20% premium to price, and he expects walk scores to be used more in the future.
He says walkability has become a much greater factor because NSW, Queensland and Victorian state governments are not investing in public infrastructure such as new high-speed train lines.
This means that people placing a premium around being close to public transport and to villages where they can go out for a meal or coffee.
“All of our cities are being clogged with excessive traffic… A trip from the northern beaches to the Sydney CBD can take over an hour, and that’s considered a normal commute,” he tells Property Observer.
McNamara says walk scores will have particurlar value to “villages” such the inner west of Sydney, Melbourne’s inner-urban areas and places like Paddington in Brisbane. 
He expects walk scores will be particularly appealing to those marketing projects off the plan to mainland Chinese buyers who won’t know much about the surrounding suburbs. 
But, he says, they do have their limitations. 
“They don’t provide an understanding of the brand of the suburb. 
“Carlton may have a walk score of 97, but it does not tell you that Lygon Street is just up the road or that is has charming period homes. 
“The walk score does not give you the flavour, nor does it tell you that Carlton was once a working-class suburb that has become gentrified.” 
To use the site home buyers simply type in the address of the property they are interest in and the website compiles the ranking and walking distance from amenities and services.
The sought-after inner-city Melbourne suburbs of Prahran and South Yarra have a perfect score of 100, with schools, shops, grocery stories and cafes all within 200 metres.
<img src="/images/stories/walkprahran.jpg">
Typing in 103 Pelham Street, Carlton into Walk Score shows that the proposed Bravo development is a short walk from numerous restaurants and coffee shops; 230 metres from the Forza Italia shopping centre; 330 metres from Melbourne Business School; 420 metres from Deakin University; within half a kilometre of numerous banks and close to parks, bookstores, pubs and hotels.
Australian addresses do not show distances to public transport connections (this is due to a data issue with local public transport providers) though the location of nearby tram and train stations can be clearly seen on the map.
Bravo’s marketing material explains that it is “only a two-minute walk to 10 different tram routes and only a 12-minute walk to Parliament Station”.
<img src="/images/stories/bravowalk.jpg">
“Bravo’s vicinity to the restaurants, cafes and boutiques of Lygon Street creates an opportunity for residents to live effortlessly and luxuriously,” says Ann Lau, associate director at Hayball, the architecture and design firm behind the project.
“Carlton has a strong identity and community spirit therefore it was important to reflect this by democratising the views with communal rooftop gardens. Vegetable patches and barbecues provide an extension of private outdoor space, as well as encouraging sustainable choices and a community-focused lifestyle,” she says.
The Walk Score system is also being used by real estate group Harcourts Australia, which is incorporating Walk Score Neighbourhood Maps with all its listings.
 
The maps don’t provide a Walk Score ranking but show distances to the nearest restaurants, coffee shops, grocery stores, shopping centres and schools.
 
The mapping program also has a feature called “Where do you commute?”, which allows you to type in any address find out the recommended route, distance, approximate driving and walking time from that property.
 
The mapping function has been incorporated into all public, office and sales consultant websites in Australia, New Zealand and the USA.
Gregg Toyama, head of eBusiness for Harcourts International, says buyers are always craving more localized information surrounding a property listing.
“How many times have you heard someone say, ‘How far away is the local school’ when discussing a property?
“Now buyers can see that information along with a range of other points of interest, such as transport hubs, doctors, restaurants and much more all within a property listing,” he says.
According to Ben Rossiter from Victoria Walks, a walking-for-transport health promotion charity, Walk Scores are being used more often in medium-density real estate suburbs.
"It gives people a really good idea of what is close by. The most highly walkable communities have a variety of services and facilities relevant to everyday life, all within walking distance — things like schools, shops, parks, cafes and movie theatres," Rossiter told Fairfax Media last year.
"Walking is becoming increasingly important to people when they're deciding where they want to live. The choice might be more about having high walkability than it is about having a bigger backyard."
Walk Score generates more than 6 million scores each day.
It is a division of Seattle software company Front Seat and launched in July 2007.
Front Seat was founded by Mike Mathieu, former general manager of msn.com, the Microsoft search engine.
 
 
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