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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>Australian Property Monitors (APM) has released a list of results from 218 auctions in Sydney for the weekend of April 14. The clearance rate was 55.5%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 218 Sydney auction results showing a clearance rate of 55.5%

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 Although we are several months shy of tax time, I was prompted by some readers to break down tax depreciation, a quite unique tax-advantageous component of property investment, in layman’s terms. By this I refer to the tax allowances for degradation of investment property contents, used to produce income/wealth, for the investor. 
Before you read further I must stress that an investment property is one that you do not live in yourself. It is not your “home”. While some people refer to the home they live in as their greatest “investment” (and indeed it is a great investment!), in the eyes of the Australian Tax Office, this is not an investment property. The biggest (and only) tax allowance you get on your home is the capital gains tax exemption that applies when you sell your home. And no, you cannot own more than one “home” at any one time. You must sell one home, tax-free, before buying another home. 
So back on to depreciation allowances for investment properties – what do I mean by this? 
Well, let’s say you bought an investment property, say it is a brand-new apartment, and say you intend to hold this investment property for 20 years. In the unit, there are the basic walls, cement floors/foundations, ceilings, windows, etc. But then there are other items that deteriorate over time and can require refurbishment and/or replacement over the years. Floor coverings like carpets, perhaps curtains, even stove cook tops, some light fixtures, shower heads and so on. 
Sure, the brand-spanking-new range hood looks great in the apartment now, and your first three or four years of tenants love it, but as the years go on, these items suffer wear and tear that make them less and less valuable. The weaker state of these basic items becomes, over time, detrimental to your potential to continue to lease the property to the best tenant at the best possible rental return. In other words: wear and tear seriously affects your ability to make a profit. 
To compensate for this, the ATO says (very much in a nutshell!) “At the end of every financial year, you can claim some of the weakening value of each item as a tax deduction to help improve your bottom line.” Figuring out how much of a tax allowance you can get for your investment property is not something easily doable by yourself. You are best off to recruit the services of a tax depreciation company. There are many out there, and are all pretty much the same, though do your research and source testimonials on the ones you shortlist before appointing them. The ATO frowns upon those who attempt to conduct a depreciation report themselves, and red flags are raised. In fact (and I’d have to check my sources), it may even be mandatory that a third-party report is required, in order to lodge any tax allowances for depreciable items. 
So when does this need to occur, and what is depreciable, and by how much? The good news is you can purchase a property at any time in the financial year, and so long as you get the report written and lodged with your income tax return, you qualify for any of the tax allowances from the portion of the financial year that you owned the investment property. In fact, the ATO allows back-dating by up to two years, so if you bought a property say 08 months ago, and are panicked, fear not! But if you bought say five years ago, only the last two years’ of depreciation are claimable. 
In regards to what is depreciable and by how much, most items have some depreciable value. To assess this, the depreciator you appoint will need to gain access to the property to conduct an inspection (usually less than 15 minutes is needed). This person determines the “current” value of every item (so, stove, window sills, floor coverings, light fixtures, fences, walls, etc). They then calculate how much “value” each of those items will lose every year, and they will road map this out, per-item, for usually up to 30 to 40 years. So yes, the report can be heavy reading! The good news is you’ll pay for this report just once, and then use the findings contained within for the life of your ownership of the property. Each end of financial year, you submit the same report to your accountant when you do your tax return, and that year’s “allotment” is included in the tax assessment calculation. 
It goes without saying that the figure for say year three, will be much higher than year 27. This is due to the gradual degrading value of items. Think of it like buying a showroom-new car. Buying a new car is better than buying one second-hand, and they look and run the best, however they lose their biggest chunk of value the moment it is driven out of the showroom. Say you spend $30,000 on the brand-new car, but after year one, it is only worth $25,000. But then in year two, it may only lose another $2,000 of value – not another $5,000 of value. Year three may be $1,000, and perhaps it may average out at $500 a year every year after. The same thing applies with depreciable items in property. 
So more often than not, properties that are one to five years old have the most depreciable potential. So, that brand-new stove in the example I mentioned earlier; it may have a year one value of $1,600. The loss in year one could mean for a tax allowance of $180 for that year, but by year 30, this allowance might be only $5. But when you add up all items on the list (in addition to the stove there might be another fifty line-items), it all adds up, and it especially adds up big time, during years one to five. 
For this reason, some investors only consider properties that are aged up to five years old due to their depreciation potential. But it is worth mentioning this is certainly not a strategy that suits everyone, and especially may not suit young investors. Oftentimes, mature investors who are on six- and seven-figure annual salaries see property investment as a way to help offset much of the tax they pay and seek out properties that maximise this. 
For those of us on more modest incomes, this huge tax allowance may not offset the negatives of buying a brand-new property (paying inflated up-front costs, plus also being at risk of increasingly poor-quality construction). Sure, a property may give you no problems in the first few years, but then it may become a money-pit for you thereafter, whereas someone who purchases a 50-year old red-brick apartment block may actually have fewer problems with it. And sure, it would have much lower depreciable value from year one of your ownership of it, yes, but it may cost you less in repairs than some newer buildings. 
While there is no hard and fast rule or strategy to apply, my personal strategy is not exclusive to any type (or age) of dwelling, though I tend to seek properties in the five- to 10-year vintage, mostly because they serve many purposes: 
1)      Usually (but not always) if there aren’t any structural problems by year five, there probably won’t be. Modern constructions tend to show their wear early and up-front, or not at all. 
2)      Years five to 10, depreciation-wise, still provide excellent tax concessions. 
3)      You don’t overpay for the property (you don’t pay the marketing-costs-inflated “brand-new” price, nor do you pay the years two- to three-year “honeymoon” price).
Back to you home owners that I mentioned earlier on. If your strategy is to buy a property to live in but with multiple bedrooms and you intend to rent bedrooms two and three out as an investment component of your home, you will always be entitled to apportioned tax deductions (things like interest on mortgage repayments etc), but at the same time you’ll be up for an apportioned figure of capital gains tax when you ultimately sell your home one day. A tax depreciation report could still be worth investing in, but you’d need to seek specialist advice in this scenario. If you only intend on living in your home for a few years before turning it into a 100% investment property, certainly get the report, but wait until you vacate to actually buy it. 
My overall advice to the community is that when looking at potential investment properties: consider tax depreciation capability when short listing your top three or four. Ask yourself, is the building less than five years old? If it is older, that's OK (even if it is in fact 50 years old). If it is older, does it have a new/recent kitchen? Bathroom? Maybe new fencing, roof tiles, renovations? Extensions? Outdoor paving? These items could have higher tax-depreciable qualities than you first realise. Whenever you do purchase your investment property, be sure to pay the $500 to $1,000 one-time cost to have the report constructed, and do it about 14 days before end of tax year (otherwise if you leave it too late, the results may not come until after the tax year has ended). 
I know I haven’t mentioned just how much you can get back each year, and with good reason: it will be different for everyone, because there are so many variables at play. But I will say this; most people find that they not only re-coup the cost of the report in year one, but they also get a nice return on top within the first year. Plus you get your allotment each year for the next 28 or so years of ownership. So that alone is worth it.
Cameron McEvoy is a property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
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The benefits of depreciation, or how wear and tear can be to your advantage

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During the week we saw the curious discrepancy between the views of the CEO of Australian Super and the outlook of a forklift driver.
The 62-year-old forklift driver from Melbourne had put $80,000 of his savings with Australian Super in its default, “balanced” option. He couldn’t work out why the TV ads showed his fund on the fast escalator when over the last three years the Australian Super “default” option returned savers just 1.7% per annum.
<img src="/images/stories/superescalator.jpg">
Aus Super’s “balanced” fund is not really balanced. It has half of its portfolio allocated to local and global shares, which carry very high risk. It puts another 29% of the portfolio into risky unlisted “private equity” and “direct property”. And it has just 2% invested in cash and 9% in bonds.
<img src="/images/stories/superescalator2.jpg">
In defending the fund’s performance, the Aus Super CEO argued, “the reason that most funds, including ours, have most of their assets in equities is that over the past 100 years equities have proven to be the best-performing asset class”.'
I have a few problems with this thinking.
For a start, the Australian Stock Exchange was only formed in 1987, and unbiased data on Australian stocks prior to the 1970s is hard to come by because businesses that go bust and de-list from the stock exchange often get removed from the index.
Secondly, to use performance of an asset over a century seems almost useless for people nearing retirement. They don’t have 100 years for the peaks and troughs to flatten out.
In recent weeks I have been writing about the worrying lack of good bond investment options for retirement savers. Government and corporate bonds are much less risky that equities, yet they perform just as well.
Compare the total returns delivered by 10-year Australian government bonds with the returns provided by Australian shares (plus dividends). The returns are little different over the last 30 years, with one important exception: bonds had significantly less risk of loss.
Shares have a very important role to play in most investment portfolios, and I am optimistic about the outlook for the Australian share market.
But getting the right mix of assets is crucial.
If you are over the age of 50 and you’re in the “default” option in your super fund, it’s highly likely that no more than 11% of all your money is in cash and bonds. Yet the optimal bond-allocation for you is certainly far higher.
So, what can you do?
You could look at a self-managed super fund (SMSF) or you could tell your fund how you want your money invested.
Either way, use this ready-reckoner: if you’re 20, no more than 20% in bonds and cash; if you’re 50, no more than 50% in bonds and cash, on so on.
You should always get expert advice. But you can also start by ensuring your risk profile is matched to your age.
 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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Does a forklift driver know more about a balanced portfolio than a super fund CEO?: Mark Bouris

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ANZ has announced it will lift rates by 0.06%.
Effective 20 April 2012, ANZ’s new standard variable mortgage rate will be 7.42%pa, the bank said in a <a href="https://t.co/4ZylQhtv">https://t.co/4ZylQhtv</a> statement.
It came at 5.18 pm, the second time in three months it has moved independent of the Reserve Bank of Australia, and ahead of the other big banks.
With the stock market closed and people heading home or to the pub ANZ had still not made its announcement on its much-anticipated independent rate call.
Economists and analysts had even jestingly been tweeting about a possible announcement to coincide with the kick-off in tonight’s AFL and NRL games.
There was even been the creation of a new hashtag: #sneakyhike.
“Where is the ANZ announcement on retail interest rates? Waiting the bounce of the ball in Collingwood vs Carlton?” tweeted former Gillard economic policy advisor Stephen Koukoulas.
Earlier economist Christopher Joye tweeted: “ANZ may be waiting for market close at 4.30 pm – a hike in rates would be price sensitive.”
He later tweeted the bank could keep interest rate steady but cut deposit rates, which would have the same effect on profit margins.
RateCity.com.au tweeted the ANZ media team:
@ANZ_Media @ANZ_AU any news on Rate Review meeting?
SBS news presenter Ricardo Goncalves tweeted: It's close of business (5pm) and still no @ANZ_Media #rates announcement. Putting in for overtime are we?
Sky News business presenter Brooke Courte tweeted: Tick.... Tick.... Tick... #Anz #rates #sneakyhike?
The March decision to keep rates on hold was made at 3.30 pm.
The February increase decision was made at 2.30 pm.
ANZ_Media ? @ANZ_Media: ANZ to increase rates for variable mortgages and small biz by 0.06%pa to 7.36%pa. 3-year fixed rate cut 0.15% to 5.99%pa...
Earlier today the bank announced a$17.8 million bond deal maturing in 2017.
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ANZ lifts rates again after keeping consumers in suspense until knock-off time: RBA interest rates aftermath

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The 10 suburbs where house prices fell the most during the past year are Williamstown, Beaumaris, Flemington, Windsor, Balwyn North, Tullamarine, Moonee Ponds, Brunswick East, Brighton and Prahran, according to the Real Estate Institute of Victoria.
The 10 suburbs where unit prices fell the most during the March quarter are Fitzroy, South Melbourne, Flemington, Windsor, Heidelberg Heights, Richmond, St Albans, West Footscray, Mornington, Caulfield North.
The 10 suburbs where unit prices rose the most during the past year are Canterbury, Maidstone, Black Rock, Bentleigh East, West Melbourne, Abbotsford, Bentleigh, Malvern, Caulfield South and Malvern East.
The 10 suburbs where unit prices rose the most during the March quarter are Blackburn, Balwyn, Donvale, Mount Eliza, Bentleigh, Greensborough, Malvern, Brighton, Niddrie and Kensington.
The REIV suggests more than 30 sales are necessary in order to get an informed view of the suburb's median house price, but even with that number there will be distortions in quarterly median prices given the composition of sales during the period.
 
<table width="362" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="159">
<col width="69">
<col width="84">
<col width="50">
</colgroup>
<tbody>
<tr height="39">
<td width="159" height="39"></td>
<td width="69">Mar-12 Median</td>
<td width="84">Quarterly Change</td>
<td width="50">Annual Change</td>
</tr>
<tr height="17">
<td height="17">ABBOTSFORD*</td>
<td>$665,000</td>
<td>11.4%</td>
<td>27.9%</td>
</tr>
<tr height="17">
<td height="17">AIRPORT WEST*</td>
<td>$443,000</td>
<td>-0.7%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">ALTONA NORTH*</td>
<td>$480,000</td>
<td>4.3%</td>
<td>-12.7%</td>
</tr>
<tr height="17">
<td height="17">ALTONA*</td>
<td>$400,000</td>
<td>-8.0%</td>
<td>-12.9%</td>
</tr>
<tr height="17">
<td height="17">ARMADALE*</td>
<td>$592,000</td>
<td>-0.8%</td>
<td>11.1%</td>
</tr>
<tr height="17">
<td height="17">ASCOT VALE*</td>
<td>$435,000</td>
<td>-1.7%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">ASPENDALE*</td>
<td>$595,000</td>
<td>12.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">AVONDALE HEIGHTS*</td>
<td>$448,250</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BALWYN NORTH*</td>
<td>$675,000</td>
<td></td>
<td>-22.4%</td>
</tr>
<tr height="17">
<td height="17">BALWYN*</td>
<td>$743,000</td>
<td>22.3%</td>
<td>2.8%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER NORTH*</td>
<td>$312,500</td>
<td>-2.6%</td>
<td>-9.9%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER*</td>
<td>$390,000</td>
<td>9.9%</td>
<td>1.3%</td>
</tr>
<tr height="17">
<td height="17">BEAUMARIS*</td>
<td>$678,000</td>
<td>0.9%</td>
<td>-30.3%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH EAST*</td>
<td>$673,500</td>
<td>-3.8%</td>
<td>21.4%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH*</td>
<td>$671,250</td>
<td>23.6%</td>
<td>29.1%</td>
</tr>
<tr height="17">
<td height="17">BLACK ROCK*</td>
<td>$739,000</td>
<td>7.9%</td>
<td>21.1%</td>
</tr>
<tr height="17">
<td height="17">BLACKBURN SOUTH*</td>
<td>$569,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BLACKBURN*</td>
<td>$632,000</td>
<td>20.8%</td>
<td>13.7%</td>
</tr>
<tr height="17">
<td height="17">BONBEACH*</td>
<td>$355,000</td>
<td>-9.0%</td>
<td>-7.9%</td>
</tr>
<tr height="17">
<td height="17">BORONIA</td>
<td>$362,000</td>
<td>2.0%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL NORTH*</td>
<td>$525,000</td>
<td>5.0%</td>
<td>-5.1%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL SOUTH*</td>
<td>$564,750</td>
<td>9.2%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">BOX HILL*</td>
<td>$409,400</td>
<td>3.2%</td>
<td>-7.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON</td>
<td>$876,000</td>
<td>30.7%</td>
<td>-18.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON EAST*</td>
<td>$767,000</td>
<td>-5.9%</td>
<td>12.4%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK</td>
<td>$438,250</td>
<td>10.3%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK EAST</td>
<td>$399,000</td>
<td>-3.9%</td>
<td>-18.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK WEST</td>
<td>$395,000</td>
<td>1.3%</td>
<td>12.9%</td>
</tr>
<tr height="17">
<td height="17">BUNDOORA*</td>
<td>$378,000</td>
<td>11.7%</td>
<td>7.2%</td>
</tr>
<tr height="17">
<td height="17">CAMBERWELL</td>
<td>$600,000</td>
<td>-11.8%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">CANTERBURY*</td>
<td>$750,000</td>
<td>12.8%</td>
<td>20.0%</td>
</tr>
<tr height="17">
<td height="17">CARLTON</td>
<td>$275,000</td>
<td>-11.3%</td>
<td>-10.6%</td>
</tr>
<tr height="17">
<td height="17">CARNEGIE</td>
<td>$430,000</td>
<td>-4.4%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">CARRUM*</td>
<td>$409,500</td>
<td>8.5%</td>
<td>-3.6%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD NORTH*</td>
<td>$473,500</td>
<td>-14.3%</td>
<td>-2.7%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD SOUTH*</td>
<td>$751,000</td>
<td>1.7%</td>
<td>39.1%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD*</td>
<td>$515,850</td>
<td></td>
<td>-1.7%</td>
</tr>
<tr height="17">
<td height="17">CHADSTONE*</td>
<td>$470,000</td>
<td>-8.2%</td>
<td>-14.5%</td>
</tr>
<tr height="17">
<td height="17">CHELSEA*</td>
<td>$415,000</td>
<td>19.4%</td>
<td>5.1%</td>
</tr>
<tr height="17">
<td height="17">CHELTENHAM</td>
<td>$462,750</td>
<td>5.5%</td>
<td>-1.0%</td>
</tr>
<tr height="17">
<td height="17">CLAYTON SOUTH*</td>
<td>$435,500</td>
<td>42.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">CLAYTON*</td>
<td>$435,000</td>
<td>13.7%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">COBURG*</td>
<td>$451,000</td>
<td>-8.9%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">CRAIGIEBURN*</td>
<td>$335,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">CROYDON</td>
<td>$363,500</td>
<td>1.0%</td>
<td>-1.2%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG NORTH*</td>
<td>$332,250</td>
<td></td>
<td>-3.4%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG*</td>
<td>$300,000</td>
<td>-3.8%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">DEER PARK*</td>
<td>$342,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">DOCKLANDS</td>
<td>$645,000</td>
<td>-9.3%</td>
<td>-8.5%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER EAST</td>
<td>$600,000</td>
<td>9.3%</td>
<td>16.1%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER*</td>
<td>$532,500</td>
<td>-11.8%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">DONVALE*</td>
<td>$542,510</td>
<td>22.9%</td>
<td>-4.4%</td>
</tr>
<tr height="17">
<td height="17">EAST MELBOURNE*</td>
<td>$445,500</td>
<td>-5.0%</td>
<td>-12.6%</td>
</tr>
<tr height="17">
<td height="17">ELSTERNWICK*</td>
<td>$520,000</td>
<td>7.9%</td>
<td>7.7%</td>
</tr>
<tr height="17">
<td height="17">ELTHAM*</td>
<td>$440,000</td>
<td>-8.3%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">ELWOOD</td>
<td>$531,500</td>
<td>3.2%</td>
<td>-5.9%</td>
</tr>
<tr height="17">
<td height="17">EPPING*</td>
<td>$300,000</td>
<td>-3.6%</td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">ESSENDON</td>
<td>$464,000</td>
<td>3.1%</td>
<td>10.6%</td>
</tr>
<tr height="17">
<td height="17">FAIRFIELD*</td>
<td>$405,000</td>
<td>-8.0%</td>
<td>8.2%</td>
</tr>
<tr height="17">
<td height="17">FERNTREE GULLY*</td>
<td>$378,000</td>
<td>-8.4%</td>
<td>3.9%</td>
</tr>
<tr height="17">
<td height="17">FITZROY*</td>
<td>$532,500</td>
<td>-25.0%</td>
<td>-4.8%</td>
</tr>
<tr height="17">
<td height="17">FLEMINGTON*</td>
<td>$308,000</td>
<td>-21.5%</td>
<td>-30.0%</td>
</tr>
<tr height="17">
<td height="17">FOOTSCRAY</td>
<td>$342,500</td>
<td>8.4%</td>
<td>-15.4%</td>
</tr>
<tr height="17">
<td height="17">FOREST HILL*</td>
<td>$419,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">GLEN HUNTLY*</td>
<td>$561,000</td>
<td>16.9%</td>
<td>18.1%</td>
</tr>
<tr height="17">
<td height="17">GLEN WAVERLEY*</td>
<td>$563,800</td>
<td>9.5%</td>
<td>-10.5%</td>
</tr>
<tr height="17">
<td height="17">GREENSBOROUGH*</td>
<td>$457,500</td>
<td>26.4%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">HAMPTON</td>
<td>$700,000</td>
<td>16.9%</td>
<td>9.4%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN</td>
<td>$490,000</td>
<td>5.6%</td>
<td>-3.9%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN EAST*</td>
<td>$541,550</td>
<td>-10.2%</td>
<td>3.0%</td>
</tr>
<tr height="17">
<td height="17">HEIDELBERG HEIGHTS*</td>
<td>$406,000</td>
<td>-18.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">HIGHETT*</td>
<td>$460,000</td>
<td>-7.8%</td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">HILLSIDE*</td>
<td>$330,000</td>
<td></td>
<td>-7.6%</td>
</tr>
<tr height="17">
<td height="17">HUGHESDALE*</td>
<td>$470,000</td>
<td>-1.1%</td>
<td>-7.8%</td>
</tr>
<tr height="17">
<td height="17">IVANHOE*</td>
<td>$551,000</td>
<td>-3.3%</td>
<td>-10.7%</td>
</tr>
<tr height="17">
<td height="17">KEILOR EAST*</td>
<td>$535,500</td>
<td>2.0%</td>
<td>-17.6%</td>
</tr>
<tr height="17">
<td height="17">KENSINGTON</td>
<td>$527,000</td>
<td>35.1%</td>
<td>16.7%</td>
</tr>
<tr height="17">
<td height="17">KEW</td>
<td>$609,750</td>
<td>8.2%</td>
<td>8.9%</td>
</tr>
<tr height="17">
<td height="17">LANGWARRIN*</td>
<td>$310,000</td>
<td>1.6%</td>
<td>-4.6%</td>
</tr>
<tr height="17">
<td height="17">MACLEOD*</td>
<td>$437,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MAIDSTONE*</td>
<td>$503,500</td>
<td>8.9%</td>
<td>20.6%</td>
</tr>
<tr height="17">
<td height="17">MALVERN EAST*</td>
<td>$655,000</td>
<td>6.0%</td>
<td>74.7%</td>
</tr>
<tr height="17">
<td height="17">MALVERN*</td>
<td>$678,500</td>
<td>30.4%</td>
<td>37.1%</td>
</tr>
<tr height="17">
<td height="17">MARIBYRNONG*</td>
<td>$460,000</td>
<td>3.7%</td>
<td>6.7%</td>
</tr>
<tr height="17">
<td height="17">MELBOURNE</td>
<td>$420,000</td>
<td>-3.0%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">MENTONE</td>
<td>$480,000</td>
<td>3.2%</td>
<td>2.2%</td>
</tr>
<tr height="17">
<td height="17">MILL PARK*</td>
<td>$312,500</td>
<td></td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">MITCHAM*</td>
<td>$461,000</td>
<td>1.3%</td>
<td>-8.6%</td>
</tr>
<tr height="17">
<td height="17">MONTMORENCY*</td>
<td>$429,000</td>
<td></td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">MOONEE PONDS*</td>
<td>$439,000</td>
<td>-2.6%</td>
<td>-19.4%</td>
</tr>
<tr height="17">
<td height="17">MOORABBIN*</td>
<td>$492,500</td>
<td>11.4%</td>
<td>2.0%</td>
</tr>
<tr height="17">
<td height="17">MORDIALLOC*</td>
<td>$470,500</td>
<td>-0.9%</td>
<td>4.6%</td>
</tr>
<tr height="17">
<td height="17">MORNINGTON</td>
<td>$387,500</td>
<td>-15.3%</td>
<td>-2.3%</td>
</tr>
<tr height="17">
<td height="17">MOUNT ELIZA*</td>
<td>$392,500</td>
<td>23.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">MOUNT MARTHA*</td>
<td>$410,500</td>
<td></td>
<td>-16.2%</td>
</tr>
<tr height="17">
<td height="17">MOUNT WAVERLEY</td>
<td>$558,750</td>
<td>-6.0%</td>
<td>-12.8%</td>
</tr>
<tr height="17">
<td height="17">MULGRAVE*</td>
<td>$402,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MURRUMBEENA*</td>
<td>$570,000</td>
<td>9.6%</td>
<td>4.9%</td>
</tr>
<tr height="17">
<td height="17">NEWPORT*</td>
<td>$514,000</td>
<td>-7.5%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">NIDDRIE*</td>
<td>$685,000</td>
<td>34.3%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">NOBLE PARK</td>
<td>$284,950</td>
<td>-3.8%</td>
<td>-7.3%</td>
</tr>
<tr height="17">
<td height="17">NORTH MELBOURNE</td>
<td>$485,500</td>
<td>-1.9%</td>
<td>9.3%</td>
</tr>
<tr height="17">
<td height="17">NORTHCOTE*</td>
<td>$515,000</td>
<td>4.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">OAK PARK*</td>
<td>$425,000</td>
<td></td>
<td>-5.3%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH EAST*</td>
<td>$521,559</td>
<td></td>
<td>-5.0%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH SOUTH*</td>
<td>$460,000</td>
<td>0.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH*</td>
<td>$399,950</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ORMOND*</td>
<td>$500,000</td>
<td>-1.8%</td>
<td>-13.9%</td>
</tr>
<tr height="17">
<td height="17">PARKDALE*</td>
<td>$485,000</td>
<td>6.6%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">PASCOE VALE</td>
<td>$426,000</td>
<td>-2.1%</td>
<td>3.2%</td>
</tr>
<tr height="17">
<td height="17">POINT COOK*</td>
<td>$361,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">PORT MELBOURNE</td>
<td>$690,000</td>
<td>3.0%</td>
<td>-2.4%</td>
</tr>
<tr height="17">
<td height="17">PRAHRAN</td>
<td>$445,000</td>
<td>0.2%</td>
<td>-18.2%</td>
</tr>
<tr height="17">
<td height="17">PRESTON*</td>
<td>$380,000</td>
<td>-5.0%</td>
<td>-11.6%</td>
</tr>
<tr height="17">
<td height="17">RESERVOIR</td>
<td>$365,500</td>
<td>1.5%</td>
<td>-6.5%</td>
</tr>
<tr height="17">
<td height="17">RICHMOND</td>
<td>$493,500</td>
<td>-16.7%</td>
<td>0.3%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD</td>
<td>$385,500</td>
<td>5.6%</td>
<td>-6.4%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD EAST*</td>
<td>$385,000</td>
<td>2.4%</td>
<td>-1.3%</td>
</tr>
<tr height="17">
<td height="17">ROSANNA*</td>
<td>$466,500</td>
<td></td>
<td>-11.1%</td>
</tr>
<tr height="17">
<td height="17">ROSEBUD*</td>
<td>$308,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ROWVILLE*</td>
<td>$420,100</td>
<td>-10.2%</td>
<td>3.7%</td>
</tr>
<tr height="17">
<td height="17">SANDRINGHAM*</td>
<td>$610,000</td>
<td>8.0%</td>
<td>-15.3%</td>
</tr>
<tr height="17">
<td height="17">SEAFORD*</td>
<td>$320,000</td>
<td>-1.5%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">SOUTH MELBOURNE*</td>
<td>$555,250</td>
<td>-23.9%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SOUTH YARRA</td>
<td>$565,000</td>
<td>2.7%</td>
<td>1.8%</td>
</tr>
<tr height="17">
<td height="17">SOUTHBANK</td>
<td>$540,000</td>
<td>4.9%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">ST ALBANS*</td>
<td>$275,000</td>
<td>-15.8%</td>
<td>-8.9%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA</td>
<td>$476,000</td>
<td>1.9%</td>
<td>-0.8%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA EAST</td>
<td>$452,000</td>
<td>-3.4%</td>
<td>-5.6%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA WEST*</td>
<td>$440,000</td>
<td>1.1%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">SUNBURY*</td>
<td>$277,500</td>
<td></td>
<td>-14.9%</td>
</tr>
<tr height="17">
<td height="17">SUNSHINE*</td>
<td>$263,000</td>
<td>-6.1%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SURREY HILLS*</td>
<td>$635,000</td>
<td>9.7%</td>
<td>0.2%</td>
</tr>
<tr height="17">
<td height="17">SYDENHAM*</td>
<td>$320,000</td>
<td>-5.0%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE LOWER*</td>
<td>$604,500</td>
<td>12.9%</td>
<td>-0.1%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE*</td>
<td>$570,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">THORNBURY*</td>
<td>$432,000</td>
<td>13.2%</td>
<td>7.1%</td>
</tr>
<tr height="17">
<td height="17">TOORAK</td>
<td>$652,750</td>
<td>-2.6%</td>
<td>-7.1%</td>
</tr>
<tr height="17">
<td height="17">TULLAMARINE*</td>
<td>$292,500</td>
<td>-14.1%</td>
<td>-19.9%</td>
</tr>
<tr height="17">
<td height="17">WERRIBEE*</td>
<td>$250,000</td>
<td>-1.0%</td>
<td>-10.1%</td>
</tr>
<tr height="17">
<td height="17">WEST FOOTSCRAY*</td>
<td>$354,000</td>
<td>-15.7%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">WEST MELBOURNE*</td>
<td>$598,250</td>
<td>-6.5%</td>
<td>24.4%</td>
</tr>
<tr height="17">
<td height="17">WILLIAMSTOWN*</td>
<td>$445,000</td>
<td>5.1%</td>
<td>-32.4%</td>
</tr>
<tr height="17">
<td height="17">WINDSOR*</td>
<td>$400,000</td>
<td>-19.4%</td>
<td>-29.8%</td>
</tr>
<tr height="17">
<td height="17">YARRAVILLE*</td>
<td>$530,000</td>
<td>1.0%</td>
<td>12.1%</td>
</tr>
</tbody>
</table>
Source: Real Estate Institute of Victoria
*Indicates that fewer than 30 sales were recorded during the quarter
For more property research and latest sales, visit the <a target="_blank" href="https://www.reiv.com.au/">REIV website.</a>
 
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cknowlton-QnEa6ntUYP

Melbourne unit prices – how your suburb went in the 2012 March quarter: REIV

<html><body>
Melbourne property prices remained flat over the March quarter, according to the Real Estate Institute of Victoria.
The median house price in metropolitan Melbourne was $535,000, representing a minor 0.9% increase over the year and the same rise from the revised $530,000 December quarter median.
REIV chief executive Enzo Raimondo says demand for residential property over the past year reflected the broader state of the economy and forecast that buyers will continue to find prices maintaining current levels in the short term.
“The property market moves in cycles and now we are in one of stability, with overall median house prices showing no real growth.
“The median house price has increased $5000 since March 2011, confirming a very stable market in relation to prices.”
The unit market fell 1.1% to $445,000 from $450,000 in the December quarter and fell by a larger 4.2% decline over the year.
The fluctuations follow a five-year period during which the median house price increased by 43% and 39% for units.
“Until the economy and confidence improve, the market is likely to remain as it is now,” Raimondo says.
Kew edged out Brighton and Camberwell to be the most expensive suburb to buy a house.
Suburbs like Ringwood, Coburg and Footscray, in the middle of the market pricing, recorded much of the strongest growth.
 
 
 
 
 
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jchancellor-FAypfDUnLy

Melbourne property prices flat in March quarter: REIV

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Meriton boss Harry Triguboff has demanded that the RBA cut interest rates to encourage more local buyers of his apartments following the completion of another project in Sydney.
Triguboff says interest rates are currently too high.
“He [RBA governor Glenn Stevens] has to drop [the cash rate]. I can’t believe it’s that high,” Triguboff said as the red ribbon was cut on his 24-storey Vantage apartment block in Rhodes in Western Sydney.
Triguboff says further rate cuts would increase demand for his apartment projects.
“[Rate cuts will make them] a little cheaper and will bring buyers back into the market,” he told The Australian Financial Review.
“It got to a stage [last year] where I had 85% of purchasers who were Chinese, and now it’s down to 65%.
“We’re very happy with Chinese coming here, but we must have our own.”
According to Triguboff, there is strong demand for apartments in Sydney, as long as they are priced correctly.
“Gone are the days where I had to fight with the newspapers and tell them this is the best way to live,” Triguboff says.
Prices in the 263-apartment block start from $415,000 for a one-bedroom apartment, with two-bedroom apartments priced between $585,000 and $840,000 and three-bedroom apartments priced from $825,000 to $1.25 million.
Speaking at the opening of the apartment project, NSW premier Barry O’Farrell said Meriton’s contribution was greater than the taxpayer bill of $22 million and pledged further such co-operation in the future.
O’Farrell said the NSW government did not have enough money to “remediate all the crook sites around NSW”.
The Vantage tower is part of a wider Meriton precinct development, which will include childcare facilities, a new public park and shopping centre links.
Triguboff says he bought the Rhodes site for “practically nothing” because no one else was willing to buy the polluted land.
He says he was captivated by its position overlooking the Parramatta River.
 
 
 
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RBA must cut rates to encourage more Australian buyers: Harry Triguboff – RBA rates decision countdown

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Only Darwin and Hobart went against the national trend of static or falling rents over the March quarter according to the latest APM rental report.
The report found rents remained stable or fell during the March quarter in most capital cities, giving temporary relief to renters.
But senior economist at APM Dr Andrew Wilson says flat or falling rental growth for both units and houses in most capital cities has not resulted in falling gross rental yields.
The median weekly asking rent for houses in Australia was $409 for the March quarter, while median asking rent for units declined 1.1% to $401 over the same period.
Darwin had the greatest quarterly and yearly rent increase for houses but was the only capital where yields went down for houses. House rents rose 3.6% over the quarter and 11.8% over the year to $570 a week. House yields went up 9.6% over the year to 4.94%. Unit rents are down 2.1% over the quarter but up 2.2% over the year, while unit yields went up 11.2% over the year to 5.58%.
Hobart house rents increased, but the Tasmanian capital had the greatest yearly fall for unit rents. It was the only capital where unit yields went down over the year. It had the greatest yearly fall in yields for houses. House rents rose 3.1% over the quarter to $330 a week, up 1.5% over the year. House yields are down 1.4% over the year to 5.23%. Unit rents are unchanged over the quarter and down 3.7% over the year. Unit yields are down 1.3% for the year to 5.13%.
<img src="/images/stories/apmapril13.gif">
Sydney had the greatest quarterly fall for unit rents over the quarter. House rents remain unchanged over the quarter at $500 a week, up 2% over the year. House yields are up 5.8% for the year to 4.71%. Unit rents are down 2.2% over the quarter to $450 a week and unchanged over the year. Unit yields are up 3.7% over the year to 5.18%.
<img src="/images/stories/apmapril134.gif">
Melbourne had the greatest yearly fall for house rents. It had the greatest yearly increase in yields for houses. House rents remain unchanged over the quarter at $360 a week, down 1.4% over the year. House yields are up 11% over the year to 4.12%. Unit rents are unchanged over the quarter and over the year at $350 a week. Unit yields are up 4.6% over the year to 4.63%.
Brisbane had the greatest yearly increase for units. House rents are unchanged over the quarter at $380 a week, up 2.7% over the year. House yields are up 7.7% over the year to 5.08%. Unit rents are unchanged over the quarter at $365 a week up 4.3% over the year. Unit yields are up 6.6% over the year to 5.29%.
<img src="/images/stories/apmapril132.gif">
In Adelaide house rents are down 0.6% over the quarter and over the year at $338 a week. Yields for houses went up 6% over the year to 4.69%. Unit rents are unchanged over the quarter and over the year at $280 a week. Unit yields are up 4.2% over the year to 4.98%.
Perth had the greatest yearly increase in yields for units. House rents are unchanged over the quarter at $400 a week, up 3.9% over the year. House yields went up 10.8% over the year to 4.92%. Unit rents are unchanged over the quarter at $350 a week, up 2.9% over the year. Unit yields increased 16.6% over the quarter to 5.5%.
over the year to 5.29%.
 
<img src="/images/stories/apmapril133.gif">
In Canberra hose rents are down 2% over the quarter at $490 a week, up 2.1% over the year. House yields increased 3.9% over the year to 4.97%. Unit rents are down 1.1% over the quarter to $435 a week up 1.2% over the year. Unit yields are up 3.7% over the year to 5.65%.
Wilson says increased buyer activity over the March quarter has taken some pressure off rental markets, but the reprieve won’t last long.
“Improved housing affordability with the bottoming of the price cycle, falling interest rates and an improved economic outlook has facilitated increased buyer activity in most capital cities particularly from first homeowners,” says Wilson.
“This has taken some demand pressure off rental markets with flat rental growth recorded over the March quarter as a consequence.
“However with ongoing shortages of accommodation, low levels of new supply and continued inactivity by investors, upward pressure on rentals can be expected to resume in most centres over 2012.”
He says this is particularly evident in Sydney where ABS figures show a 60% state-wide surge in first homebuyer loans over the last quarter of 2011 which has reduced demand for rental properties, particularly units.
“Units continue to provide higher gross rental returns compared to houses in all the mainland capitals,” says Wilson.
“Gross investment yield growth should track sideways from mid-2012 as prices and rental increases emerge concurrently.”
He says Melbourne continues to be most tenant-friendly capital.
Photograph courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
 
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awalsh-7Ub9EypybQ

Rents stable or falling in all capitals bar Darwin and Hobart in March quarter: APM

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So let’s get a few things crystal-clear upfront – I don’t want there to be any confusion. First, contrary to what you will read in the newspaper, the RBA has no idea what it is going to do with rates in May right now. 
Second, nor do the economists and commentators that like to fill the informational void with their subjective opinions on this stuff. 
Third, I would personally be over-the-moon if the first quarter inflation data printed very low, and gave our central bank room to cut rates and stimulate growth. That is, to push the unemployment rate down even lower than its current 5.2% level without risking the RBA’s inflation target. 
With that prologue out of the way, let me say that the certainty with which some analysts and commentators purport to be able to predict the RBA’s decisions weeks and months in advance of determinative data never ceases to amaze me. 
A few days ago almost everyone was predicting an RBA rate cut in May. The market had, as usual, over-egged it, with a 100% probability priced. One analyst even announced this week that the RBA would cut not once in May, but twice, or by 50 basis points in total. 
I’ve been more circumspect for the basic reason that I have listened to what the RBA has repeatedly told us: all else being equal, it is, quite reasonably, not touching rates until it gets the next batch of quarterly inflation data on the 24th of April. This is why I was relatively confident that--barring any unexpected disasters--the RBA would leave rates unchanged in February, March, and April. 
One is left to surmise that the pundits predicting a rate cut(s) in May and/or June must have a very high degree of faith in their quantitative forecasts for Australia’s underlying inflation rate during the first three months of 2012, and, just as importantly, the revisions the ABS makes to the 2011 results. 
In this context, I reckon I know one of the country’s best inflation forecasters. And I also know what his standard errors look like. The bottom line is that once you account for a bit of chance, anything could happen on the 24th. (Now don’t forget my riders upfront!) 
I would implore those proclaiming most loudly what the RBA will do in May, June and months thereafter to reflect on what the boss of the central bank, Glenn Stevens, recently described as his “first rule of forecasting”: don’t forecast! 
My current RBA logic is pretty straightforward. First, the RBA has more or less declared that it has given up on “pre-emptive” policy-setting, and certainly so in respect of rate hikes. 
As I’ve said before, lifting rates is hard yakka when the community has got used to 20-plus years of uninterrupted economic growth and mostly low and steady inflation. The problem is that generations of Australians have forgotten that the average mortgage rate between 1980 and 1995 was 12.6%. Imagine paying that much for a home loan today! You would have conniptions. In January 1990 mortgage rates soared as high as 17%. But since 1995 the average variable rate has only been 7.4%. And that’s mainly because the RBA has kept the pace of consumer price inflation to between 2% and 3% per annum (give or take). 
For the last year or so I’ve expressed my concerns about the RBA’s political independence, and the fact that the bank itself is worried about the integrity of its price stability mandate in the wider community.
These anxieties appear increasingly justified given mounting criticisms of RBA decisions and calls from leading stakeholders for the government to change the way the RBA acts. Of course, this government has already controversially taken the RBA board’s pay-setting powers away from it (because Swannie felt the governor was getting too much), and has stacked the board with appointees it believes will be less zealous about inflation-fighting. 
And all of this has occurred at a time when the labour market is near fully employed, borrowing rates are around their 15-year averages, private investment is at record highs, and the economy continues to expand. 
The RBA has shifted away from “forecasting” towards what the governor calls “<a target="_blank" href="https://en.wikipedia.org/wiki/Nowcasting_(economics)">nowcasting</a>”. That is, sitting back and watching the hard empirical data flow through, and trying, to the best of its ability, to work out what the pulse of growth and inflation look like in the present (or recent past). When it comes to forecasting inflation, past outcomes are, in fact, one of your best guides. 
Politically, the powerful thing about “nowcasting” is that it is externally explicable. The RBA knows it is never going to convince the community or, nowadays, its own board, about the reliability of its long-term inflation guesses. The second-best alternative, therefore, is to set policy based on the highest-quality information it has about what is happening right now. 
So how, then, should one think about the probabilities around May? Well, the RBA tells us (if we listen) that it has one main policy goal, which is its 2% to 3% per annum, through-the-cycle, "inflation target". 
By the RBA's own logic, it can cut rates in May if the first-quarter inflation data suggests the underlying pulse of consumer price pressures is advancing at less than the mid-point of its target band. 
In principle, if core inflation prints at 0.7% or higher, and the six- and 12-month core measures are also above 2.5%, the RBA should not be cutting rates in May. Clearly, the converse is also true. 
Here it is useful to remember that the deputy governor of the RBA told parliamentarians in February that “our central forecast has unemployment drifting up to around 5.5%”. And this was said after two rate cuts and a bit of currency depreciation. 
Instead, the unemployment rate has remained stubbornly steady at around 5.2% with leading indicators, such as job advertisements and the various business surveys, implying that employment growth will improve a bit. Indeed, ANZ have published an analysis of the latest labour force data and concluded that the unemployment rate may have peaked. 
The chart from ANZ below shows the 12-month change in the unemployment rate (orange line) plotted against the 12-month change in GDP (blue line). You can see what the RBA and many analysts have long suspected: the unemployment rate is a far less volatile indicator of economic growth than the point estimate that is outputted by the ABS via its National Accounts calculations.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/april13.gif"><img src="/images/stories/april13thumb.gif"></a>
ANZ argues (as I have) that the fact that Australia’s unemployment rate has remained basically unchanged since the middle of 2011 suggests that the economy is probably tracking close to its trend rate of growth. It just so happens that another key proxy for growth, NAB’s business conditions index, is also close to trend. 
Given it takes one to two years for rate changes today to have their full impact on activity, and given what the sweep of data tell us about current activity, the only credible basis for a rate cut in May is an unambiguous sign that inflation is lower than it needs to be. But until we get the hard data on the 24th of April, all the guesses as to what the RBA may or may not do (excuse the pun) are pure noise. That is, irrelevant speculation. 
There are two risks to this analysis. One possibility is that the RBA is politically pressured into cutting even with a high inflation print because of the numerical dominance of the six doves and a politically appointed treasury secretary on its board. I think this is a low probability risk, but a risk nonetheless. Now is as good a time as any to make a statement about your independence for the benefit of folks like Paul Howes. 
Another is that ANZ and the other banks lift lending rates in the interim, which gives the RBA an “excuse” to cut rates in May even with a high inflation print if only to neutralise the change in lending rates. I think it is entirely possible that ANZ will indeed nudge up its rates today, which makes tactical and strategic sense for reasons I have discussed previously. This would tilt my rate probabilities further towards a cut, subject to what the 24th tells us.
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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chrisjoye-JYhJsTrNRC

The RBA has no idea what it will do with rates in May as it focuses on ‘nowcasting’: Christopher Joye

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The better-than-expected unemployment result in March has weakened the case for multiple rate cuts, but economists are still tipping the Reserve Bank to reduce the cash rate by 25 basis points when it meets on May 1.
BT Financial Group’s chief economist Chris Caton says the jobs numbers are very important to the RBA and says the case for a rate cut in May has weakened, though it could still happen.
“For some time, I have had the view that a clear upward trend in unemployment would be the most likely catalyst for a further rate cut,” Caton told the Australian Financial Review.
UBS chief economist Scott Haslem reached similar conclusions.
Haslem says the March quarterly inflation number (due on April 24) would be low enough to encourage the RBA to cut rates on May 1 but says the prospect of a follow-up June cut is now more widely questioned.
Currently interest rate markets are pricing in only one interest rate cut in the next three months, down from expectations of two rate cuts over the quarter earlier in the month.
Unemployment remained at 5.2% in March, when most economists were tipping to rise to 5.3%.
The stronger-than-expected jobs numbers pushed up the Australian dollar against the US dollar, rising half a cent to $1.03 yesterday and continuing the gain today, currently trading around $1.043.
The data showed 44,000 jobs were added to the national economy during March, well above economists' expectations for an increase of 5,000 jobs, while the participation rate (those employed or actively seeking work) rose modestly from 65.2% to 65.4%.
Unemployment rose in Victoria from 5.5% to 5.8% and Western Australia (3.9% to 4.1%) but dropped in NSW (5.1% to 4.8%) and Queensland (5.7% to 5.5%).
Tasmania has the highest unemployment rate of 7%, which remained unchanged during March.
In its assessment of the unemployment data, Westpac says the numbers show that the labour market appears to have stabilised in NSW but it has entered a new downturn in Victoria as the jobs losses in construction and manufacturing start to mount.
“Jobs growth is picking up in the mining states but as Qld continues to disappoint it is interesting to note over the last six months WA has created a total of 29.6,000 jobs while NSW, Vic and Queensland combined has only been able to add a total of 10,200 jobs,” says Westpac. 
Commonwealth Bank interest rate strategist Phillip Brown expects the RBA to go ahead with its rate cut, but says the jobs data means there is now less prospect of the RBA embarking on a series of rate cuts
"It's a bit hard to tell the internal thoughts of the RBA board members, but we don't think this is going to change their action in May," Brown says.
However, CommSec economist Craig James called the March jobs data “murky” though at first glance they might appear “heartening.
He also disagreed that the jobs numbers would be as closely watched as other economists claim and said global factors were still more important.
“The jobs data is unlikely to make waves at the Reserve Bank. Rather the central bank will be more focused on the current situation in Euro Zone and even the slowdown in China.
“Any escalation of the Euro Zone debt crisis is likely to prompt the Reserve Bank to move sooner rather than later when it comes to rates,” he says.
James says the unemployment results needs to be put into perspective.
“The latest March result follows the modest fall in employment in February and a more sizeable fall December. In fact, over the past five months employment growth has totalled just 36,400 positions – or around 7,000 jobs a month.
“The month-to-month data can certainly be volatile. However, even a smoothed longer-term view confirms the sluggishness in the labour market. Employment is barely growing having recorded an anaemic annual growth rate of just 0.3%,” he says.
James also highlights that business conditions would not improve for many sectors of the economy.
“From a business perspective there is no doubt that trading conditions will remain difficult and profitability continue to be affected.
“In addition the strength of the Australian dollar will continue to cripple manufacturing, tourism and exports outside the resources space. As a result it is more likely that businesses will hold onto current staff rather than significantly adding to their workforce,” he says.
In it is April Market Insights report, released on April 4 ahead of the unemployment data, Westpac said it was disappointed that the RBA “continues to talk about little change in the unemployment rate” and said there were dangers in only relying upon the unemployment rate as a measure of labour market conditions.
 
 
 
 
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