Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

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

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by Richmond-Tweed in New South Wales.
<img src="/images/stories/269000.gif">
The median lot price in Richmond-Tweed, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/235000.gif">
The median lot price on the Sunshine Coast, Queensland, according to the HIA and RP Data.
 
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The median lot price on the Gold Coast, Queensland, according to the HIA and RP Data.
 
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The median lot price in the Illawarra, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/194000.gif">
The median lot price in Barwon, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/176000.gif">
The median lot price in Mackay, Queensland, according to the HIA and RP Data.
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<img src="/images/stories/173000.gif">
The median lot price in Hunter, New South Wales, according to the HIA and RP Data.
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<img src="/images/stories/163450.gif">
The median lot price in south-west Western Australia, according to the HIA and RP Data.
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<img src="/images/stories/16000.gif">
The median lot price in Fitzroy, Queensland according to the HIA and RP Data.
 
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<img src="/images/stories/157900.gif">
The median lot price in northern Queensland according to the HIA and RP Data.
 
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Richmond-Tweed heads the 10 most expensive regional markets for land prices: HIA-RP Data

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by south-east South Australia.
<img src="/images/stories/74000.gif">
The median lot price in south-east South Australia, according to the HIA and RP Data.
 
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<img src="/images/stories/77500.gif">
The median lot price in Mersey-Lyell, Tasmania, according to the HIA and RP Data.
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<img src="/images/stories/80750.gif">
The median lot price in Mallee, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/85000.gif">
The median lot price in northern New South Wales, according to HIA and RP Data.
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<img src="/images/stories/89500.gif">
The median lot price in northern South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/90000.gif">
The median lot price in Murrumbidgee, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/97000.gif">
The median lot price in Murray Lands, South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/101500.gif">
The median lot price in Murray, New South Wales, according to HIA and RP Data.
 
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<img src="/images/stories/105000.gif">
The median lot price in Loddon, Victoria, according to HIA and RP Data.
 
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<img src="/images/stories/107500.gif">
The median lot price in Ovens-Murray, Victoria, according to HIA and RP Data.
 
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The 10 cheapest regional markets for land prices across Australia: HIA-RP Data

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In a not surprising (for readers of this column) attempt to politically pressure Australia's central bank, <a href="https://afr.com/p/national/pm_surplus_can_drive_down_rates_fjKXptC6sJlyBIDEPgt7YI" target="_blank">a major media outlet</a> reports today that the Prime Minister has broken with historical convention – for an incumbent government – and called on the RBA to lower interest rates given the government's mooted fiscal promises. This is after the current Labor government controversially took away the RBA board's pay-setting powers because it was too generous with the governor's salary package, replaced one independent (and hawkish) director with a manufacturing industry lobbyist who describes herself as a "growth girl" and an inflation "dove", and broke with long-term convention by replacing the board's standing independent academic expert (another hawk, Professor Warwick McKibbin, who had offered himself up for re-election) with a former advisor to a Labor prime minister, Paul Keating.  Some have also observed that while the current RBA governor contentiously hiked rates in the final month of the 2007 election campaign as the global financial crisis was brewing – an election that the Liberal Party lost that month – he did not touch rates during the subsequent 2010 campaign despite possessing a hawkish bias, waiting until November to raise them pointedly after Labor had scraped home with a hung parliament. In a panel interview with Bloomberg yesterday, the former RBA board member, McKibbin, described the government’s recent elections to the RBA board as "disconcerting". McKibbin advocated a board structure comprising of three RBA staffers (currently there are only two), three independent economics experts (currently there is one), and three "community representatives" with no politically appointed treasury secretary.  The <a href="https://afr.com/p/national/pm_surplus_can_drive_down_rates_fjKXptC6sJlyBIDEPgt7YI" target="_blank">Australian Financial Review</a> reports that today: “Prime Minister Julia Gillard will aggressively link her budget ­surplus goal directly to lower interest rates, saying that the Reserve Bank of Australia has “plenty of room” to cut its 4.25% cash rate... Her speech to business leaders in Perth will also make the case for a reweighting of monetary policy which could help push down the ­Australian dollar and provide relief to manufacturers, exporters and the tourist industry. In effect putting the political success of next month’s budget into the hands of the Reserve Bank board, Ms Gillard will say that the large ­interest rate differential between ­Australia and offshore markets gives the RBA “plenty of room to move ­further if need be”. The Prime Minister is quoted apparently calling on Australia's central bank to re-focus on its antediluvian 1959 mandate, which requires it to give equal weight to employment, growth and price stability. Since that time, however, the treasurer of the day and the governor of the RBA have signed a total five "<a href="https://www.rba.gov.au/monetary-policy/framework/stmt-conduct-mp-5-30092010" target="_blank">Statements on the Conduct of Monetary Policy</a>" documents that explicitly subordinate the employment and growth goals in the 1959 Act to allow the RBA to focus mainly on one medium-term objective: price stability. Specifically, the latest statement signed by Wayne Swan and Glenn Stevens says (emphasis added): "Since the early 1990s, inflation targeting has formed the basis of Australia's monetary policy framework. Since 1996, this framework has been formalised in a Statement on the Conduct of Monetary Policy. The inflation targeting framework has served Australia well and is reaffirmed in the current statement...  [The three objectives outlined by the 1959 Act] allow the Reserve Bank board to focus on price (currency) stability while taking account of the implications of monetary policy for activity and, therefore, employment in the short term. Price stability is a crucial precondition for sustained growth in economic activity and employment. Both the Reserve Bank and the government agree on the importance of low inflation and low inflation expectations...[and] on the objective of keeping consumer price inflation between 2 and 3%, on average, over the cycle." In today's speech the Prime Minister seems to confuse these priorities. Without having the benefit of the first-quarter inflation results, which are expected to be benign, or revisions to the 2011 inflation numbers, the Prime Minister advocates the employment and growth benefits of lower rates with inflation-targeting added as an after-thought:  “In the current economic environment, should the RBA consider it appropriate to change the cash rate, this could deliver widespread benefits for households and business – noting that a number of sectors of the economy most under strain are arguably more sensitive to interest rates...This is fully consistent with the Reserve Bank’s charter obligations to best contribute to economic prosperity and full employment, as well as containing inflation.” One problem for the RBA is, as McKibbin explained yesterday, that the current government's forecasts and commitments to fiscal contraction are already accounted for in the central bank's analysis (since Treasury have always projected a steep fiscal consolidation following a fiscal stimulus that McKibbin believes was twice as large as it needed to be) and are, in any event, merely political promises. At the invitation-only Bloomberg conference, McKibbin argued that the RBA would be far more focused on what policies the government actually delivers given its history of missing commitments. He also suggested that it was unreasonable to ask the RBA to make decisions today on the basis of assumed budget outcomes before it had the benefit of both seeing what is promised on the May 8 and what the government ultimately delivers.
Christopher Joye is a leading financial economist and a director of <a href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The above article is not investment advice.
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Australian Prime Minister politicises the RBA – again: Christopher Joye

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Confidence in the property industry is increasing while house prices are likely to stabilise, according to a report published today by ANZ.
The Property Council of Australia-ANZ Property Industry Confidence Survey revealed a more optimistic property industry outlook with confidence increasing by six points in the June quarter to 113 compared to 107 in the March quarter.
The 2,300 professionals polled from the property and construction sector tipped house prices to stabilise and their own forward work schedules to lift.
The index shows improved confidence underpinned by an improved outlook for the economy and construction activity and more optimistic expectations for commercial property capital growth and house prices.
House price expectations in the June quarter indicate the property industry see prices levelling out, with 73% of all respondents expecting house prices to increase or remain unchanged in the next year.
With existing underlying housing market pressures, expectations of further rate cuts and a stabilising economic outlook, house price expectations are improving.
On balance, the property industry expects prices to be largely unchanged in the next year.
The majority of respondents to the survey in all states and territories, except Tasmania, expect house prices to be the same or higher in the next year.
Despite a soft labour market and non-residential building approvals running below long-run average levels, the outlook for commercial building activity looks positive.
Almost 60% of those surveyed expected forward work schedules to increase in the coming year.
The most positive forward work expectations were reported by the NT where 83% expect forward work programs to increase, followed by Western Australia, Queensland and New South Wales.
Tasmania reported the weakest forward work expectations, with only 38% of respondents expecting work to increase in the coming year.
Despite weak employment growth through 2011 and job shedding in manufacturing, finance and retail industries, the property industry reported a positive outlook for staffing levels in the year ahead.
Property industry staffing levels are expected to increase across all states and territories, except Tasmania.
ANZ chief economist, Warren Hogan, says the main message from the index was that confidence in the industry is getting better particularly in the outlook for activity and also concerns around house prices.
“The other message is consistent with what is happening in the broader economy with quite a bit of regional diversity with the mining states really going from strength to strength, while a couple of the states are lagging, like Tasmania and Victoria,” says Hogan.
Hogan says while Australia’s mining and engineering-construction sectors boom, retail spending, non-mining related manufacturing, public services and tourism will remain under pressure.
“Hopefully it means the housing market continues to strengthen, particularly from an activity point of view as there has been a concern about a shortage of housing in the country,” says Hogan
The property market seems to be in a recovery after some softness last year.”
“Overall the industry is more confident as acute concerns over global economic conditions ease,” said Property Council chief executive, Peter Verwer.
“Respondents are feeling less buffeted than in previous quarters, where the storm in commodity prices, global economic insecurity and domestic political uncertainty contributed to negative sentiment.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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House prices tipped to stabilise as property industry confidence improves: ANZ

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Adelaide’s highest residential building – dubbed the “leaning tower of Adelaide” – has been approved, with construction on the 22-storey project to start next year.
Datong Australia will construct the $120 million building on the corner of Flinders and Pulteney streets. It will be 75 metres high.
<img src="/images/stories/leaning2.jpg">
The pricing of the 149 apartments, which will range from 50 to 85 square metres, has yet to be released, but last year the developer gave indications they were expected to range between $300,000 and $1.2 million. Its off-the-plan marketing will begin mid-year. The approval process was lengthy, finally securing permission this week the state government's Development Assessment Commission, as it exceeded the area's 40-metre height limit.
<img style="float: left; margin: 5px;" src="/images/stories/leaning1.jpg">
The Pruszinski Architects-designed building will have 60% of units on building corners.
Director Paul Pruszinski has said the design resembled a pile of papers being picked up and fanning out from pinching fingers. The highest residential tower in Adelaide is currently credited as the 1970-built King William Tower, which is 20 floors and 70 metres high, followed by the more recent 62-metre-high Conservatory on Hindmarsh, which was completed in 2009.
Datong Australia’s parent company, Datong China, is based in <a href="https://en.wikipedia.org/wiki/Yunnan">Yunnan province</a>, located in the far south west of the country.
It has been developing since the 1980s. Datong is a combination of two Chinese words or concepts. “Da” means large or leading, while “tong” is a metaphor for a smoothened road.
Datong also had a seven-storey Adelaide apartment building on Gouger Street approved this week.
“Datong intends to become a leading player in the development and rejuvenation of the Adelaide CBD,” Datong Australia chairman Jin Liang told the Australian Financial Review last year.
 
 
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jchancellor-FAypfDUnLy

‘Leaning tower of Adelaide’ secures approval and set to be city’s tallest residential building

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A 71-storey tower with 592 apartments and 566 car parking spaces at the site of the Queensbridge Hotel, Southbank has been approved by Victorian Planning Minister Matthew Guy.
It’s a $275 million Bates Smart-designed high-rise tower that at 276 metres high will be Melbourne's second-tallest building – squeezed between Eureka at 297 metres and Rialto at 254 metres.
<img src="/images/stories/queensbridge1.jpg">
"The tower will be a stunning addition to Melbourne's skyline, with an innovative design to reflect its location at a key gateway linking Southbank and the CBD,” Guy says.
"Southbank is a natural extension of the Melbourne CBD and is an area that is constantly evolving, with architecturally inspiring development forging ahead," he adds.
The development will consist of three platinum and silver glass cylinders.
Bates Smart also designed the nearby Freshwater Place for Australand.
It was early 2010 when furniture magnate and property developer Tony Schiavello bought the property, once home to nightclub QBH, which abutted other property he had owned for several years.
Click to enlarge
<a href="/images/stories/queensbridge2.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/queensbridge2thumb.jpg"></a>
The Schiavello Group is also building the 250-metre, 67-storey Prima Pearl Tower in the precinct.
The group, ranked as one of Australia’s top 200 private companies by BRW, was founded in 1966 by Tony and his younger brother Joe.
Locals claimed the proposal failed five key planning regulations.
 
 
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Melbourne’s second-tallest residential tower receives approval for Southbank Queensbridge Hotel site

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Generation Y are savvy and sceptical and make up nearly half of the nation’s first-home buyers, according to QBE Insurance’s mortgage report.
The LMI Barometer found that 45% of the first-home buyers it surveyed are under 30 years old, and many borrow money family to help them onto the property ladder. In fact, 20% of this group lives at home while saving, which is up from 18% last year.
While dedicated saving is how 91% of first-time buyers gather their deposits, one in 10 confess to raising money through loans from parents. Indeed, 20% of this group has a guarantor for their loan – usually their parents.
The LMI Barometer found that 41% of first-home buyers have a household income of between $100,000 and $200,000. As a sector, they are also motivated to lenders with low deposit requirements.
Click to enlarge
<a href="/images/stories/qbeapril19.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/qbeapril19thumb.gif"></a>
“The average deposit for first home buyer respondents is $60,821, which takes 4.7 years to save and is well below the overall average deposit of $101,767,” the study found.
They are also more pessimistic than other groups, and 83% consider property to be overvalued, which includes 50% who think prices are ‘significantly overvalued’.
But the cynicism does not dampen enthusiasm to spend, with 44% of this group aiming to have bought a property in 12 months. On average Gen Y first-home buyers will borrow $372,259. On their way to that purchase, they do better research and rely on external advice more than other market segments surveyed.
More than half of the first-time buyers’ respondents believe that property prices will be stable or higher in 2012, which is down from the 73% who believed the same in 2011.
Click to enlarge
<a href="/images/stories/qbeapril191.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/qbeapril191thumb.gif"></a>
“First-home buyers have a fairly bullish outlook on property over the medium term, with 52% agreeing property prices will increase strongly over the next three years. This is ahead of the national average of 42%,” the report says.
Possibly due to fears about rising property prices, 39% of this group thinks it is more important to enter the market now rather than save for a bigger deposit.
 
 
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andreadixon-oif3j7eKne

Gen Y first-home buyers pessimistic about house prices but eager to get into the market: QBE LMI survey

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When I explain to people what I do and how I’ve made a business out of what I love – developing property – they often say, “I wish I could do something like that”.
My reply is always, “You can do it. If I can do it, you can do it.”  What I’ve worked out over time is the difference between someone who fails and someone who succeeds is the courage to act, not just once, but repeatedly.
Something else I’m often asked is: when is the right time to invest in property? In my books, the right time is now. I’ve seen so many people over-analyse the market and end up sitting on the sidelines for years because they’ve lacked the confidence to take action and invest. Then they look back and say, “If only I did buy that property back then...”   I’m not recommending you buy any old property, of course you must do your due diligence, but when you’ve ticked the boxes and the deal stacks up, have the courage to act.
An important element to help us act is to overcome fear. Fear is a powerful emotion and is described in the dictionary as “an unpleasant emotion caused by the awareness of danger or expectation of pain”, which I’m sure we have all felt at some point in our lives.
Any successful investor will tell you the journey has not all been plain sailing. They have all learned to overcome doubt, fear and uncertainty along with recognising the persistent drive to never give up.
To some of us, the thought of failing or making a mistake is traumatic. Others seem to be able to pick themselves up and keep going until they make the next mistake only to pick themselves up again. They learn from each mistake and see them as opportunities to improve.  This is the type of resilience needed to enable us to bounce back each time. Is it passed on from parents who have instilled this resilience into their children, or is it learned? From my experience, I believe it is learned over time. It’s like anything, if you want to be good you have to practise. Repeat the process time after time and keep refining it.
As a property development project manages this is exactly what we do. Every development is different, each piece of land brings challenges, but we can overcome them easily now because of our experience and yet we are constantly looking at ways to improve our process.
While reading a blog on the internet, I came across these tips, 9 Steps to Overcome Fear, which I’d like to share with you.  As a property developer and businesswoman I could really relate:
<ol>
<li>
Make the decision to succeed - Once you decide on success you rarely allow doubt to enter your mind. Your persistence, dedication and resilience are strengthened. You free yourself to do the uncommon and the impossible. 
</li>
<li>
Take risks – Chase your fear. Do what scares you. Make the dreaded phone call. Ask for what you want. When you experience rejection ask someone else. 
</li>
<li>
Be prepared – Anticipate your own needs. Don’t live in fear, create solutions in advance. Know how you will get out, get over, around and through what could go wrong. 
</li>
<li>
Let go of urgency and fear – Learn to relax and go with the flow. Our anxiety and stress are caused by living in the pain of the past or the far of the future. Life happens in the present moment. 
</li>
<li>
Focus on the benefits of your success – Become focused on what you will gain. Is your benefit financial freedom, travel, saving the lives of others or leaving a legacy you can be proud of? When the going gets tough, focus on your why. 
</li>
<li>
Calm your body – Find a quiet place and bring attention inward, notice where your fear resides in your body. Learn to calm and centre yourself. 
</li>
<li>
Create your own fan base – Your family and friends will be supporting you to succeed. When you are scared, imagine them all cheering you on. 
</li>
<li>
Participate in life – Turn off your television, electronics and the negative media. Take a guitar lesson, a skydiving or yoga lesson or swim in the ocean to basically feel good. 
</li>
<li>
You are enough – Accept who you are and where you are today. When you compare yourself to others, you create your own suffering.</li>
</ol>
When thinking about developing property, the whole process can be daunting. Stay focussed on the end result, make sure you take action and move toward your goal by taking one step at a time.
Tips from <a href="https://zenhabits.net/" target="_blank">www.zenhabits.net</a>
 Jo Chivers is director of <a target="_blank" title="Property Bloom" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
 
 
 
 
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jochivers-wq5Bp59R5a

Property development is daunting, but you must learn to master your fear

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The introduction of Sunday trading in Western Australia was one of the prompts that triggered Charter Hall's purchase of the Wanneroo Central shopping centre.
The Charter Hall Retail Partnership has announced it has executed a contract to buy the shopping centre which will have an initial 8% yield.
Acting Charter Hall chief executive Scott Dundas saysthere were several reasons for the purchase.

“With a robust forecast population growth of 4.7% in its main trade area, dominant supermarket anchor tenants and the introduction of Sunday trading across Western Australia, Wanneroo Central is expected to contribute stable long term returns and will be a high quality addition to the REIT’s non-discretionary portfolio of shopping centres,” he told the local press.

Sunday retailing is set to start in Western Australia, with the roll-out in metropolitan areas beginning in August. The major supermarkets and department stores such as David Jones, Target, Harvey Norman, IKEA , Coles and Woolworths will be allowed to trade between 11am and 5pm. Smaller operators are free to open 24/7.
The industry appears split about the impact on landlords and tenants.
CBRE senior director of retail Helen Lassam believes deregulation is a win-win for property owners and their tenants.
“Landlords and retailers will immediately benefit from deregulation. More hours gives the public more choice, and I believe it will improve turnover across the board, just as it did in the eastern states. This will immediately flow into higher rents,” says Lassam.
In Western Australia, anchor tenants and increasingly speciality shops pay a small base rent plus a percentage of turnover.
Lassam says deregulation will create a better market to attract large eastern states-based high street operators that have previously been cautious about entering the Perth market.
“Improved turnover and stronger rents makes an attractive a market for investors too,” Lassam says.
However, Perth-based valuer Matt Garmony is not convinced and says that rents may, in fact, come down. In recent years many retail investors that have been exposed to high vacancy rates and financially troubled tenants.
“Sunday trading really does increase the cost of running a business, so I think it’s likely to not be very profitable. Many shops will not bother to open. Currently the IGA supermarkets that trade on Sunday make most of their money on that day. With this deregulation they will have to compete with Coles and Woolworths, which will affect their viability and subsequently bring rents down,” he says.
The deregulation has also put an end to the exclusive Sunday trading hours in the tourist centres of Perth’s CBD, Fremantle, Midland, Armadale and Joondalup at the expense of suburban and regional retails.
CBRE Perth managing director Peter Agostino says that shoppers flock to the Perth CBD every Sunday because there are few other places to go.
“Trade in the Perth CBD will suffer because for more than a dozen years it has thrived on the benefits of seven-day trading. I expect fewer people will go into the city to spend, resulting in falling turnover and less rent,” he warns.
However, the rapidly burgeoning residential community living and being developed in the CBD is expected to eventually prop up the retail sector there.
According to the most recent Savills research, in the Hay Street Mall in the Perth CBD, net rents range from $2,200 to $4,900 per square metre with yields between 7.25% and 8.5%.
In other CBD locations rents range between $650 and $2,500 with yields between 7.5% and 9%.
Major stores in Perth neighbourhood shopping centres pay net rents of between $135 and $155 per square metre while speciality tenants pay rents of between $400 and $750 per square metre. Yield range between 8.25% and 9%.
A research report compiled by CBRE for the fourth quarter of 2011 described the planned move to allow Sunday trading in some Perth suburbs as one of the “obstacles” facing the retail market.
The CBRE report says the market was subdued in 2011 but the outlook is optimistic as economic forecasts and growth prospects remain bright.
However it notes that retail is one of the sectors that has not felt the benefits of the investment spending in the resources industry to the same extent as other property sectors because demand is driven by the domestic side of the economy and dependent on consumer confidence.
 
 
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Investors scour WA retail as extended trading hours looms, but some retailers don’t like Sundays

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An A-REIT is a listed property trust that is professionally managed either by an external party or by internal staff within a related corporate structure which is known as a stapled entity. 
A payout ratio is the proportion of earnings paid out as distributions to unit holders in a trust or dividends to share holders of a company. 
Among the benefits of investing in an A-REIT is the higher payout ratio compared with broader listed equities. A-REITs have a pay-out ratio mostly ranging between 75% and 100%. This contrasts to the broader equities payout ratio of around 50%, although with significant variation. 
Trusts have limited discretion about the share of earnings paid to unit holders. There are no prescribed minimum distribution rules. Taxation of Trusts means that close to 100% of earnings are distributed otherwise tax at the highest marginal rate is payable. Some income may be retained in order to meet capital expenditure requirements. 
A company, or corporate component of an A-REIT, can pay as much or as little of its earnings as it elects. This explains why the externally managed A-REITs will normally have a higher pay-out ratio than a stapled A-REIT. 
The A-REIT sector currently has an overall average earnings pay-out ratio of 81%. The average payout ratio of the externally managed A-REITs is 92%. The average for the internally managed stapled A-REITs is 72%. 
By 2007, the average A-REIT payout ratio had escalated to 101%. Paying out more than income earned is an unsustainable proposition and relied on recognising and paying out growth in the fund’s capital value. This was achieved by increasing gearing. This increased gearing was subsequently exposed as capital values fell during the financial crisis.
Payout ratios were reduced in 2010 and 2011 to preserve cash and to assist in rebuilding balance sheets at a time when A-REIT performance was poor. Going against this trend is Westfield Retail Trust, which is increasing its payout ratio from 90% to 100% from this year, leaving no room for any capital expenditure from earnings. Capital expenditure is essential to maintain the appeal of retail assets in particular. This increase in the payout ratio has not met with broad support.
 Mark Wist is senior asset consultant at <a href="https://www.atchison.com.au/" title="Atchison Consultants" target="_blank">Atchison Consultants</a>.
 
 
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