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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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There’s something about any holiday break.
It allows people with downtime to pause, reflect, seek feedback and then react.
Traditionally everyone returns from their summer Christmas break, sand no longer between their toes, brimming with new-found optimism.
Hence most years – like 2012 – begin with stronger auction success rates and firmer prices than those that had tailed off in the overburden exhaustion of December.
Easter is another pause, which allows the market – and most particularly potential buyers and sellers – time to reflect.
But that’s where Easter’s similarity to Christmas ends.
It tends to present itself as a rather more unwelcome interruption to marketing campaigns.
And when it comes to property’s forward progression, quite often the real estate market can take a turn for the poorer after Easter.
“It’s what happens after Easter that sets the tone for the year,” Melbourne buyers’ agent Mal James notes.
“When the Easter Bunny spins the roulette wheel where he (or she) stops on price nobody knows,” James opines.
So the big question is: what will happen after Easter?
We’ve seen the typical rush to have properties sold before Easter – on the surface <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/auctions/melbourne-passes-super-saturday-auction-acid-test-while-sydney-results-were-weaker/2012033054094">Melbourne seemed to hold up better than Sydney on super Saturday</a> – and now the school holidays mean many buyers will be otherwise preoccupied.
Over recent times estate agents regularly complaining of a shortage of stock, but what they really mean is new sellable listings.
The SQM data regularly shows capital cities overburdened with old unsold listings, but the consensus is that given that new listings remain a little light on, and noting the underlying demand, that there’s a good chance of the capital city auction clearance rates therefore remaining solid. But things are very very fragile.
Prices are of course down, especially for stale stock, and this pricing revision has finally seeped through to vendor consciousness.
It's probably fair to say the actual house and unit price falls for mum and dad vendors are far more that the overall subdued figures reflected in capital city median prices put out by the major property data providers such as RP Data Rismark's 4.3% national annual decline.
And so many would-be vendors have understandably decided not to list. Therefore buyers face limited fresh choices and accordingly auctions prices still quite often sell at higher that the pre-auction marketing campaign estimates.
Negative headline overload has dissipated the positive impact of the two recent rate cuts, but any belated May Day rate cut by the RBA might help things along.
Unfortunately then events surrounding the federal budget a week later might harm the prospects of recovery. Already the R word – recession – is creeping into economic chatter.
Bill Evans from Westpac says South Australia is in recession with given poor housing, manufacturing and population growth data.
Let’s hope the rest us of don’t follow.
 
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jchancellor-FAypfDUnLy

Easter is a time to reflect, and one of the big questions is: what happens to property prices when the buns and eggs are eaten?

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Economists remain confident that the Reserve Bank will cut interest rates next month (May 1) after leaving the cash rate unchanged at 4.25% yesterday as expected.
While all 24 economists polled by Bloomberg ahead of the announcement correctly called the April hold decision, it was slammed by industry bodies representing struggling sectors of the economy.
The Housing Industry Association (HIA) has called the decision “the wrong call,” pointing out that there is “very little driving the economy” outside of the mining sector, while the Master Builders Association (MBA) says it was “disappointed rates were not cut given the current poor conditions in the building industry”.
Most upset was the Australian Retailers Association (ARA), which says retailers had been king hit by the decision, coming just a few hours after ABS figures showed that retailing recorded virtually no growth over February and in fact went backwards in non-mining states.
“As retailers attempt to innovate and adapt to a changing retail environment, compete effectively and maintain hours and employment levels, the RBA has dealt the sector a king hit and shown little regard for working Australians or small businesses as they struggle to take home a living,” says ARA executive director Russell Zimmerman.
While economists were more measured in their responses, the underlying tone of their reaction suggested the RBA could have moved earlier and cut rates yesterday.
Former Gillard government economic adviser Stephen Koukoulas analysed the RBA statement by Glenn Stevens accompanying the <a target="_blank" href="https://stephenkoukoulas.blogspot.com.au/2012/04/rba-statement-in-blue-and-red">decision and says it containsmore weak news than strong news</a>.
Koukoulas says it is “anyone’s guess” why the RBA had not cut rates.
CommSec chief economists Craig James says the case for a rate cut is “certainly compelling – especially given the sluggishness in retail activity, higher Aussie dollar, and slump in home construction”.
“In addition the monthly inflation data has consistently confirmed that inflation is subdued. But in the end, the Reserve Bank decided to keep its powder dry,” he says.
Economists appear to be in agreement that the March quarter inflation data to be released on April 24 will be the key number guiding the RBA’s next move.
Craig James calls the inflation number “the deciding factor”.
“The key phrase of the statement was: ‘The board's view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy’.”
“In fact if the inflation data released on April 24 comes in at or below 0.7% for the March quarter, it should provide the Reserve Bank with additional degree of comfort and allow policy makers to cut interest rates by 25 basis points in May,” James says. 
Commonwealth Bank chief economist Michael Blythe calls yesterday’s decision a “prelude to a rate cut”, acknowledging that expectations of a rate cut had risen prior to the meeting.
“Speculation built over the past week that the RBA might deliver a rate cut at today’s meeting,” he says.
Blythe says there was a “broad hint that a rate cut will be on the table for discussion in May”.
“The pace of activity is a little weaker than expected but due diligence requires waiting for the first quarter CPI [due April 24] before considering a further step to ease monetary policy”.
“We are happy to hold with our May rate cut call as a result,” he says.
Aside from the inflation figure on April 24, the RBA will also have the benefit of other useful data at its disposable.
Housing Finance figures for February are out on April 11 and will show if mortgage demand has picked after the traditionally quiet January period.
On April 18 building activity figures December will be released for the December quarter and will show if the downturn in the September quarter for both residential and non-residential construction was sustained in the final three months of 2011.
The March quarter capital city house price index data will be released May 1, just a few hours before the May board meeting, giving the RBA a clearer sense of just how soft the housing market is and offer clues as to its future direction.
 
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Builders and retailers slam rates hold decision as RBA awaits first-quarter inflation data 

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Midland Brick heiress Marilyn New has secured a $90 million buyer for The Esplanade Hotel in Fremantle, Western Australia.
The 4.5-star hotel, which has 300-rooms, was bought by Ascendas – the Singaporean property fund that last year paid $327 million for Mirvac’s hotel portfolio, operated by French management group Accor.
<img src="/images/stories/esplanadehotel2.jpg">
New bought The Esplanade Hotel in Fremantle for $12.27 million in 1991, and she extensively refurbished it, doubled the number of rooms to 300 and created Perth’s third largest conference centre.
The Perth hotel accommodation sector has been the subject of renewed interest given its high occupancy of a steady 90% on weeknights and its ability to charge huge amounts for a room.
Despite this interest, New’s Esplanade River Suites in the Perth suburb of Como remains unsold.  It was listed with the landmark Fremantle hotel through estate agency Jones Lang LaSalle in for a combined $120 million.
New also owns the dilapidated but heritage-listed Woolstores building by Fremantle’s Victoria Quay, where there is talk that it could be renovated into a funky boutique hotel despite the previous push to raze the historic structure.
 
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andreadixon-oif3j7eKne

Marilyn New sells Fremantle’s Esplanade Hotel for $90 million

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There was unanimity in the market ahead of yesterday's Reserve Bank board meeting that there would be no change to official interest rates. The market was right, but there may not have been quite the same unanimity within the boardroom.
Going into the meeting it was probable that rates would be left unchanged, but not certain. One only has to read Glenn Stevens' statement after the meeting to understand why a change was possible. 
While the world is relatively stable, although Europe remains "a potential source of adverse shocks for some time", growth in China has (as it intended) moderated and commodity prices are "noticeably off their peaks". Australia’s terms of trade have also peaked, but remain high.
While growth in Australian domestic demand was at its fastest for four years last year, output growth was below trend over the year and ‘considerable’ structural change was occurring. Labour market conditions have also softened, credit growth remains modest, the housing market remains soft and the exchange rate remains high.
In fact, in the non-resource side of the economy conditions are tough. Retail sales are flat-lining, housing prices have weakened, non-mining construction has slumped and job losses in the manufacturing sector are swelling as businesses are being forced to restructure in response to weak demand and the exchange rate.
And, in prospect – if Wayne Swan actually delivers on his promise/threat – is the mother, and father, of all contractionary budgets. Oh, and the carbon tax.
Stevens said yesterday that in underlying terms inflation was around 2.5% last year, and currently expected it to be in the 2%to 3% range over the next one or two years, ‘abstracting’ from the effects of the carbon tax and including an assumption that productivity growth in the economy will increase "somewhat" as a result of the structural changes occurring.
"At its next meeting the board will have the opportunity to reassess the outlook for inflation, taking into account not only data on demand and output but also forthcoming information on prices.
"The board eased monetary policy late in 2011. Since then its judgement has been that, with growth expected to be close to trend, inflation close to target and lending rates close to average, the setting of monetary policy was appropriate.
"The board’s view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy.
"At today’s meeting the board judged the pace of output growth to be somewhat lower than earlier estimated but also thought it prudent to see forthcoming key data in prices to reassess its outlook for inflation before considering a further step to ease monetary policy," he said.
In other words, if the economy continues to show weak growth and inflation remains dormant the RBA is now more inclined to cut rates than hold them.
That’s a very clear signal to the market, and perhaps the major banks.
The RBA’s execution of monetary policy has become slightly more complicated since the banks, led by ANZ, quite recently decided to move their rates independently of the central bank. That means the RBA needs to second-guess their response to its decisions to ensure it sets official rates at a level that will have the desired impact on the economy.
It may be that the RBA chose to sit on its hands yesterday in order to see what ANZ might do when it conducts its monthly review of its rates on Friday week. Alternatively, the clear signal that it is considering reducing official rates next month might be designed to encourage the majors to wait until then before deciding how much of a rate cut to pass through to customers.
The RBA would be well aware that while funding costs – both wholesale and deposit funding – have fallen back a little from their peaks relative to the cash rate, they are still higher than they were in the middle of last year and there has been a modest contraction in banking interest margins in recent months that the banks will be reluctant to see continue.
It is politically easier (although not easy or painless) for the banks to hold back a small portion of an official rate cut than to unilaterally make out-of-cycle rate rises so the RBA’s signalling might cause the majors to wait. If they were to move independently, of course, that would help the RBA judge how much of a rate movement was needed to ensure that the net outcome had its desired impact.
The other virtue in holding rates steady until next month’s meeting, of course, is that the RBA will by then have a clearer understanding of whether Swan’s horror budget is truly going to be horrible and will be in a better position to make a judgement of how much, if any, monetary policy easing will be required to try to blunt the effects of the politically-driven promised return to surplus on the already vulnerable non-resource sectors of the economy.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
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sbartholomesusz-jWVzVSPmF8

The RBA's bank beacon: Stephen Bartholomeusz

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John Symond’s Aussie Home Loans has acquired wholesale mortgage aggregator National Mortgage Brokers (nMB) and is looking to make further acquisitions to grow its distribution reach. 
“We are on an expansion trail and see nMB as a strategic acquisition in building our distribution capability, which is no longer just focused on our established branded mobile and retail channels,” says Symond. 
“Our move into wholesale broking will complement our branded business, which we will continue to expand. With nMB, we will accelerate the rapid growth of a high-quality business-to-business channel. 
“This will be an extension to our existing business-to-consumer model under the Aussie brand and does not affect our existing operations,” he adds. 
"Our strategy is to grow the nMB business by acquiring other aggregators and putting them into the NMB business. We'll grow nMB in conjunction with growing our other separate distribution channels such as our retail stores and our mobile broker team," he told Brokernews.com.au. 
Established in 2001 and based in Melbourne, nMB has nearly 200 mortgage brokers throughout Australia, settles about $200 million in mortgages each month with a loan book of more than $8.2 billion. 
Gerald Foley, managing director of nMB, told Property Observer it would be “business as usual” for nMB brokers, with the only change being a “change in shareholding”.
 
“Aussie has a very strong retail lending business, and we are a strong wholesale business. An approach was made, and it all made good sense,” Foley says.
NMB will continue to operate as a separate entity under its own brand and will continue to be managed by its current executive team, led by Foley. 
“We are delighted to be joining Aussie’s great operation and look forward to growing our business with its support. Aussie has the mortgage broking industry’s leading business model and operating standards, as well as being a very strong and trusted player in the market,” says Foley.
Aussie currently has a loan book of over $42 billion with more than 250,000 mortgage customers, 700 accredited mortgage brokers and 150 retail stores. 
The acquisition of nMB will increase the Aussie group’s loan book to over $50 billion, settling approximately $1.2 billion in new mortgages each month and on target for 1,000 accredited mortgage brokers within the group this calendar year.
 
 
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John Symond’s Aussie Home Loans buys National Mortgage Brokers 

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Shopping centre giant Westfield, one of Australia’s biggest retail landlords, reported a strong 2011 to December 31, with profits of $1.5 billion despite the challenges facing the retail sector.
In its 2011 annual report, Westfield says its Australian portfolio remained resilient and at almost full occupancy “reflecting the ongoing demand for high-quality retail space”.
Westfield operates 43 malls throughout Australia, with Airport West in Melbourne recording the strongest increase in sales of 7% over the year, followed by Belconnen in the ACT, with a 5.5% gain.
There were 18 stores that recorded a decline in sales over the year, the biggest being a 10.3% drop in Kotara, Newcastle followed by an 8% declined in Pacific Fair on the Gold Coast.
Westfield Bondi Junction in Sydney’s eastern suburbs, which managed over $1 billion in sales in 2010, declined by 3.9% to $973 million in 2011.
Here’s a breakdown of how Westfield’s centres performed, starting from Bondi Junction and ending with North Rocks in Sydney’s west ($144 million):
(Annual sales figures for Westfield Sydney are not yet available – the shopping centre has 257 retailers and 78,000 square metres of lettable area).
$973 million
The total annual sales at Bondi Junction, NSW, which declined 3.9% over 2011. The shopping centre has 522 retailers and 129,000 square metres of lettable area.
$890 million
The total annual sales at Chermside, Queensland, which increased 2.1% over 2011. The shopping centre has 415 retailers and 146,000 square metres of lettable area.
$812 million
The total annual sales at Doncaster, Victoria, which increased 3.4% over 2011. The shopping centre has 437 retailers and 121,000 square metres of lettable area.
$779 million
The total annual sales at Southland, Victoria, which increased 0.3% over 2011. The shopping centre has 416 retailers and 130,000 square metres of lettable area.
$773 million
The total annual sales at Marion, SA, which increased 1% over 2011. The shopping centre has 331 retailers and 133,000 square metres of lettable area.
$713 million
The total annual sales at Parramatta, NSW, which declined 2% over 2011. The shopping centre has 498 retailers and 137,000 square metres of lettable area.
$711 million
The total annual sales at Warringah Mall, NSW, which declined 2.7% over 2011. The shopping centre has 327 retailers and 125,000 square metres of lettable area.
$707 million
The total annual sales at Knox, Victoria, which declined 3.9% over 2011. The shopping centre has 410 retailers and 143,000 square metres of lettable area.
$703 million
The total annual sales at Marinda, NSW, which declined 2.7% over 2011. The shopping centre has 393 retailers and 108,000 square metres of lettable area.
$661 million
The total annual sales at Carindale, Queensland, which declined 0.6% over 2011. The shopping centre has 284 retailers and 106,000 square metres of lettable area.
$654 million
The total annual sales at Fountain Gate, Victoria, which declined 2.3% over 2011. The shopping centre has 285 retailers and 127,000 square metres of lettable area.
$612 million
The total annual sales at Hornsby, NSW, which increased 0.7% over 2011. The shopping centre has 333 retailers and 100,000 square metres of lettable area.
$583 million
The total annual sales at Penrith, NSW, which increased 1% over 2011. The shopping centre has 343 retailers and 92,000 square metres of lettable area.
$577 million
The total annual sales at Booragoon, WA, which increased 1.3% over 2011. The shopping centre has 272 retailers and 72,000 square metres of lettable area.
$563 million
The total annual sales at Mt Gravatt, Queensland, which declined 0.2% over 2011. The shopping centre has 313 retailers and 99,000 square metres of lettable area.
$541 million
The total annual sales at Carousel, WA, which increased 1.4% over 2011. The shopping centre has 294 retailers and 83,000 square metres of lettable area.
$507 million
The total annual sales at Macquarie, NSW, which declined 3.9% over 2011. The shopping centre has 278 retailers and 98,000 square metres of lettable area.
$504 million
The total annual sales at Chatswood, NSW, which declined 2.4% over 2011. The shopping centre has 290 retailers and 77,000 square metres of lettable area.
$478 million
The total annual sales at Belconnen, ACT, which increased 5.5% over 2011. The shopping centre has 282 retailers and 95,000 square metres of lettable area.
$473 million
The total annual sales at Tea Tree Plaza, SA, which increased 1% over 2011. The shopping centre has 257 retailers and 94,000 square metres of lettable area.
$471 million
The total annual sales at Pacific Fair, Queensland, which declined 8% over 2011. The shopping centre has 308 retailers and 104,000 square metres of lettable area.
$469 million
The total annual sales at Tuggerah, NSW, which increased 0.4% over 2011. The shopping centre has 270 retailers and 83,000 square metres of lettable area.
$456 million
The total annual sales at Liverpool, NSW, which increased 0.9% over 2011. The shopping centre has 337 retailers and 84,000 square metres of lettable area.
$455 million
The total annual sales at Kotara, NSW, which declined 10.3% over 2011. The shopping centre has 269 retailers and 69,000 square metres of lettable area.
$440 million
The total annual sales at Whitford City, WA, which declined 1.1% over 2011. The shopping centre has 305 retailers and 78,000 square metres of lettable area.
$419 million
The total annual sales at Karrinyup, WA, which declined 2.1% over 2011. The shopping centre has 219 retailers and 60,000 square metres of lettable area.
$419 million
The total annual sales at Woden, ACT, which declined 1.2% over 2011. The mall has 262 retailers and 72,000 square metres of lettable area.
$405 million
The total annual sales at Burwood, NSW, which increased 10.3% over 2011. The mall has 251 retailers and 64,000 square metres of lettable area.
$398 million
The total annual sales at Hurstville, NSW, which declined 0.4% over 2011. The mall has 261 retailers and 63,000 square metres of lettable area.
$379 million
The total annual sales at Mt Druitt, NSW, which increased 2.5% over 2011. The mall has 243 retailers and 59,000 square metres of lettable area.
$375 million
The total annual sales at Westlakes, SA, which declined 1% over 2011. The mall has 214 retailers and 61,000 square metres of lettable area.
$366 million
The total annual sales at North Lakes, Queensland, which increased 3.8% over 2011. The mall has 217 retailers and 61,000 square metres of lettable area.
$358 million
The total annual sales at Sydney Central Plaza, which decreased 8.3% over 2011. The mall has 95 retailers and 54,000 square metres of lettable area.
$331 million
The total annual sales at Helensvale, Queensland, which increased 2.6% over 2011. The mall has 187 retailers and 45,000 square metres of lettable area.
$294 million
The total annual sales at Plenty Valley, Victoria, which increased 4.4% over 2011. The mall has 180 retailers and 54,000 square metres of lettable area.
$278 million
The total annual sales at Innaloo, WA, which increased 1.2% over 2011. The mall has 171 retailers and 47,000 square metres of lettable area.
 
$277 million
The total annual sales at Geelong, Victoria, which increased 5.2% over 2011. The mall has 188 retailers and 52,000 square metres of lettable area.
$276 million
The total annual sales at Airport West, Victoria, which increased 7% over 2011. The mall has 180 retailers and 53,000 square metres of lettable area
$265 million
The total annual sales at Strathpine, Queensland, which increased 1.1% over 2011. The mall has 162 retailers and 45,000 square metres of lettable area
$224 million
The total annual sales at Warrawong, NSW, which increased 0.7% over 2011. The mall has 143 retailers and 58,000 square metres of lettable area
$171 million
The total annual sales at Figtree, NSW, which increased 1.1% over 2011. The mall has 94 retailers and 22,000 square metres of lettable area
$144 million
The total annual sales at North Rocks, NSW, which increased 0.7% over 2011. The mall has 92 retailers and 23,000 square metres of lettable area
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From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio

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The latest statistics from the ABS show that Australia’s resident population reached 22.62 million last year, increasing by 320,800 people over the last 12 months.  This represents an annual growth rate of 1.4%, the lowest since 2006 and lower than the annual average growth rate of 1.8% over the five years to June 2011.
This is one of the reasons why new housing starts have been in the dumps in recent years.  Not enough people are moving to Oz.
All states and territories experienced population growth in 2010-11, with the largest population increases continuing to be in Australia’s three most populous states. Victoria had the greatest growth (up by 84,200 people), followed by New South Wales (82,200) and Queensland (74,800).  This is only the third time in the last 10 years that Queensland has not had the largest growth of all states and territories.
Queensland has been broken for some time.  Business and residents need legitimate reasons – other than the nice weather – to move to the Sunshine State.  The LNP white-wash will hopefully get the ball rolling in this regard.  My two-bob’s worth of how this could best be done, as one would expect, is on its way.  I have been biding my time until after Easter.  Watch this space.
More than 14.5 million people, close to two-thirds of Australia’s population, reside in the eight capital cities, and the combined population of the capital city/urban areas increased by over 224,000 over the last 12 months.
Melbourne recorded the largest growth of all capitals, increasing by 67,000 people, followed by Sydney (60,000), Perth (43,000), and Brisbane (35,000).  Population growth in Melbourne equated to an average increase of close to 1,300 people per week, while the population of Sydney increased by over 1,100 people per week.
When factoring in the Gold and Sunshine coasts plus out west to Toowoomba, south-east Queensland’s population increased by 52,000 people last year or by 1,000 people per week.  Just under 3 million people (2,965,000) now live across the south-east corner of the state.
Many local government areas that had large and/or rapid growth were located on or near the boundaries of capital cities, where more land tends to be available for subdivision and housing development.  In Melbourne, the population of outer-suburban Wyndham increased by 12,200 or 7.8%.  This was both the largest and fastest increase of all Victorian municipalities and the fastest in the country.  Strong growth was also experienced in Whittlesea (up 8,700 people or 5.6%) and Melton (6,000 people or 5.6%).
As the table below shows, Brisbane City Council continues to experience the most growth with its permanent population lifting by 14,000 last year.  The table also provides details as to the fastest-growing municipalities across Queensland.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="497" colspan="5">
Population growth – top 15 municipalities by number of people
</td>
</tr>
<tr>
<td></td>
<td width="147"></td>
<td width="118"></td>
<td width="165" colspan="2">
Change 2010-2011
</td>
</tr>
<tr>
<td width="214" colspan="2">
Ranking
</td>
<td width="118">
2011
</td>
<td width="99">
no.
</td>
<td width="66">
%
</td>
</tr>
<tr>
<td width="214" colspan="2">
Australia
</td>
<td width="118"></td>
<td width="99"></td>
<td width="66"></td>
</tr>
<tr>
<td>
1
</td>
<td width="147">
Brisbane (Qld)
</td>
<td width="118">
1,079,392
</td>
<td width="99">
14,100
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
2
</td>
<td width="147">
Wyndham (Vic)
</td>
<td width="118">
168,552
</td>
<td width="99">
12,230
</td>
<td width="66">
7.8%
</td>
</tr>
<tr>
<td>
3
</td>
<td width="147">
Gold Coast (Qld)
</td>
<td width="118">
536,480
</td>
<td width="99">
9,637
</td>
<td width="66">
1.8%
</td>
</tr>
<tr>
<td>
4
</td>
<td width="147">
Whittlesea (Vic)
</td>
<td width="118">
163,539
</td>
<td width="99">
8,675
</td>
<td width="66">
5.6%
</td>
</tr>
<tr>
<td>
5
</td>
<td width="147">
Moreton Bay (Qld)
</td>
<td width="118">
389,684
</td>
<td width="99">
8,118
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
6
</td>
<td width="147">
Wanneroo (WA)
</td>
<td width="118">
156,337
</td>
<td width="99">
6,234
</td>
<td width="66">
4.2%
</td>
</tr>
<tr>
<td>
7
</td>
<td width="147">
Melton (Vic)
</td>
<td width="118">
112,981
</td>
<td width="99">
6,002
</td>
<td width="66">
5.6%
</td>
</tr>
<tr>
<td>
8
</td>
<td width="147">
Casey (Vic)
</td>
<td width="118">
261,198
</td>
<td width="99">
5,947
</td>
<td width="66">
2.3%
</td>
</tr>
<tr>
<td>
9
</td>
<td width="147">
Blacktown (NSW)
</td>
<td width="118">
313,057
</td>
<td width="99">
5,777
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
10
</td>
<td width="147">
Logan (Qld)
</td>
<td width="118">
287,472
</td>
<td width="99">
5,325
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
11
</td>
<td width="147">
Sunshine Coast (Qld)
</td>
<td width="118">
335,273
</td>
<td width="99">
4,955
</td>
<td width="66">
1.5%
</td>
</tr>
<tr>
<td>
12
</td>
<td width="147">
Ipswich (Qld)
</td>
<td width="118">
172,738
</td>
<td width="99">
4,920
</td>
<td width="66">
2.9%
</td>
</tr>
<tr>
<td>
13
</td>
<td width="147">
Townsville (Qld)
</td>
<td width="118">
189,931
</td>
<td width="99">
4,511
</td>
<td width="66">
2.4%
</td>
</tr>
<tr>
<td>
14
</td>
<td width="147">
Cardinia (Vic)
</td>
<td width="118">
77,536
</td>
<td width="99">
4,335
</td>
<td width="66">
5.9%
</td>
</tr>
<tr>
<td>
15
</td>
<td width="147">
Parramatta (NSW)
</td>
<td width="118">
176,355
</td>
<td width="99">
4,321
</td>
<td width="66">
2.5%
</td>
</tr>
<tr>
<td width="214" colspan="2">
Queensland
</td>
<td width="118"></td>
<td width="99"></td>
<td width="66"></td>
</tr>
<tr>
<td>
1
</td>
<td width="147">
Brisbane
</td>
<td width="118">
1,079,392
</td>
<td width="99">
14,100
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
2
</td>
<td width="147">
Gold Coast
</td>
<td width="118">
536,480
</td>
<td width="99">
9,637
</td>
<td width="66">
1.8%
</td>
</tr>
<tr>
<td>
3
</td>
<td width="147">
Moreton Bay
</td>
<td width="118">
389,684
</td>
<td width="99">
8,118
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
4
</td>
<td width="147">
Logan
</td>
<td width="118">
287,472
</td>
<td width="99">
5,325
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
5
</td>
<td width="147">
Sunshine Coast
</td>
<td width="118">
335,273
</td>
<td width="99">
4,955
</td>
<td width="66">
1.5%
</td>
</tr>
<tr>
<td>
6
</td>
<td width="147">
Ipswich
</td>
<td width="118">
172,738
</td>
<td width="99">
4,920
</td>
<td width="66">
2.9%
</td>
</tr>
<tr>
<td>
7
</td>
<td width="147">
Townsville
</td>
<td width="118">
189,931
</td>
<td width="99">
4,511
</td>
<td width="66">
2.4%
</td>
</tr>
<tr>
<td>
8
</td>
<td width="147">
Cairns
</td>
<td width="118">
170,586
</td>
<td width="99">
2,647
</td>
<td width="66">
1.6%
</td>
</tr>
<tr>
<td>
9
</td>
<td width="147">
Mackay
</td>
<td width="118">
121,072
</td>
<td width="99">
2,452
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
10
</td>
<td width="147">
Redland
</td>
<td width="118">
144,936
</td>
<td width="99">
2,380
</td>
<td width="66">
1.7%
</td>
</tr>
<tr>
<td>
11
</td>
<td width="147">
Toowoomba
</td>
<td width="118">
163,936
</td>
<td width="99">
2,180
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
12
</td>
<td width="147">
Gladstone
</td>
<td width="118">
62,319
</td>
<td width="99">
2,115
</td>
<td width="66">
3.5%
</td>
</tr>
<tr>
<td>
13
</td>
<td width="147">
Fraser Coast
</td>
<td width="118">
103,358
</td>
<td width="99">
1,468
</td>
<td width="66">
1.4%
</td>
</tr>
<tr>
<td>
14
</td>
<td width="147">
Rockhampton
</td>
<td width="118">
116,722
</td>
<td width="99">
1,412
</td>
<td width="66">
1.2%
</td>
</tr>
<tr>
<td>
15
</td>
<td width="147">
Bundaberg
</td>
<td width="118">
97,762
</td>
<td width="99">
1,007
</td>
<td width="66">
1.0%
</td>
</tr>
<tr>
<td width="497" colspan="5">
Matusik Property Insights, April 2012.
</td>
</tr>
<tr>
<td width="497" colspan="5">
Source: Australian Bureau of Statistics Cat. No. 3218.0.
</td>
</tr>
<tr>
<td width="497" colspan="5">
Estimated resident population as at June 30 each year.
</td>
</tr>
</tbody></table>
The inner-city areas of Sydney, Brisbane and Melbourne had population increases among the largest in Australia, increasing by 3,500; 3,450 and 2,500 people respectively.  Perth was the fastest-growing of all the inner capital city areas, increasing in population from 18,000 to 18,600 people or 3.7%.
Since these stats were released, the number of people settling down under has risen substantially.  Close to 14,000 people are now arriving each month, compared with the lows of 9,500 per month in late 2010.
Our modelling suggests that Australia’s resident population could reach 23 million by late July this year.  Australia’s current population growth rate is around 350,000 per annum.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

Slowing population growth part of the reason new housing starts are in the dumps: Michael Matusik

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Following the successful launch of stage one of its Australia Towers development in Sydney’s Olympic Park, Ecove is set to launch the second stage, ATII.
Stage one of the development, which is now complete, has sold 209 of the 216 apartments, and the 267 apartments in stage two will launch on April 21. Stage one launched in early 2010, and construction finished a few weeks ago. Almost 80% of stage one sold within the first few weeks of the launch. 
<img src="/images/stories/at21.jpg">
The 25-metre sinuous tower is being developed by Ecove and SOPA (Sydney Olympic Park Authority) and is the second of three planned stages.
Olympic Park is a new 640-hectare Sydney suburb about 15 kilometres west of Sydney CBD and became an official suburb in 2009. The locality was part of the suburb of Homebush Bay and was redeveloped for the 2000 Sydney Olympics. More than 5,000 events are held at Blaxland Riverside Park in the suburb every year, and about 500 permanent residents now live there. There are more than 130 businesses in the suburb.
<img src="/images/stories/at23.jpg">
“Sydney Olympic Park is one of Sydney’s few master-planned suburbs, so everything is the best of the best,” says David Chittenden, general manager of residential for Colliers International.
<img src="/images/stories/at211.jpg">
“Residents at ATII will enjoy all the privileges of being in the sporting and entertainment heart of Sydney, with world-class facilities and cultural events at their fingertips, and views that will never be built out.”
<img src="/images/stories/at24.jpg">
Architectural firm Bates Smart has taken a cue from the nearby stadium precinct for the design of ATII.
“We’ve given the building ‘gills’ so that it can breathe,” says Bates Smart director Philip Vivian. “Vertical slots on the northern and southern sides of the facade encourage natural airflow through the apartments and the communal spaces.
“The design maximises light into each apartment, and horizontal sun-shading bands circling the building in varying depths provide added protection to the north.”
<img src="/images/stories/at25.jpg">
The ATII  building will have 95 one-bedroom apartments ranging from $450,000 to $595,000 and from 54 to 71 square metres internally, 132 two-bedroom apartments with between 77 square metres and 122 square metres of internal space and priced between $585,000 and $1,085,000, 26 three-bedroom apartments of between 103 and 159 square metres each ranging from $900,000 and $1,565,000 and 14 four-bedroom units, which will range from between $995,000 and $1.76 million and between 141 and 181 square metres internally. Every apartment will have at least one car space.
“Very few apartment developments offer such practical spaces and high levels of quality,” Chittenden says. “There are four different colour schemes, so buyers have a wide choice.”
<img src="/images/stories/at26.jpg">
ATII will also have four retail spaces, and the three towers between them are set to have 16 shops.
<img src="/images/stories/at27.jpg">
Chittenden says the first stage of the development (pictured above) appealed to a wide variety of buyers, and he expects similar interest for stage two.
<img style="border-style: initial; border-color: initial;" src="/images/stories/at213.jpg">
“There was a broad mix of investors, owner-occupiers, workers from the many local businesses, first-home buyers and even some empty-nesters,” he says. “Most buyers came from the inner west, the Hills district, and the Shire.”
<img src="/images/stories/at28.jpg">
Colliers estimates that one-bedroom units will rent for between $500 and $575 per week and that two-bedroom units will command rents of between $600 and $800 per week. For the pricier, larger apartments, Colliers estimates that the three-bedroom units will rent for between $700 and $1,000 per week, and that tenants will pay between $1,000 and $1,500 per week for the four-bedroom units.
<img src="/images/stories/at29.jpg">
Construction is expected to start on ATII in mid-2012 and finish in early 2014.
 
 
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cknowlton-QnEa6ntUYP

Olympic Park Australia Towers launches stage two after stage one sells fast out of the starting blocks

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Boom Property Group is bringing more apartment living to a suburb that has become shorthand for house-and-land packages: Caroline Springs.
Caroline Springs, about 25 kilometres from Melbourne, has only had a post office since 2005, but property prices have been increasing rapidly. The average house price was $292,500 in 2007 and is now $420,000, according to RP Data.
<img src="/images/stories/belise1.jpg" style="border-style: initial; border-color: initial;">
"You cannot achieve the Melbourne dream of a three-bedroom house on a 500-square-metre block any closer to the city," demographer Bernard Salt told Fairfax Media about the area in 2007. "As fashionable as inner-city living like the Docklands is, there is still a large market for a suburban allotment - always has been and always will be."
Lend Lease project director Martin Gaedke told Fairfax Media in 2007 that although Caroline Springs buyers were beginning to buy smaller blocks due to affordability concerns, they still watned large homes.
"People still want relatively large houses," he said. "We've recently opened a display village here with more traditional housing, and there are still some very large homes in there. But I suppose over time, with the issue of housing affordability, people may start to review that. We're also finding block sizes may be reducing but houses are still very much the same size."
BPG’s Belise development will comprise 34 two-bedroom units and one three-bedroom unit, ranging from 73 to 99 square metres. Prices for the two-bedroom units start from $391,000.
The development launched on Saturday, March 31.
“Caroline Springs has become one of the most-sought after suburbs in the west, yet rising house prices means buying in the area is now unattainable for many. We have sought to address this demand with Belise,” says BPG managing director George Mariotti.
The $15 million project is designed by Buro Architects to complement the surrounding environment of Caroline Springs.
<img src="/images/stories/belise2.jpg">
“We strived to deliver a development that provides a sophisticated place of residence, from the entry lobby to the spacious apartment interiors, the considered design and high-quality materials flow through to achieve this,” says Paul von Chrismar, director of Buro Architects.
<img src="/images/stories/belise3.jpg">
Construction is due to start in May or June 2012 and finish in May next year.
Belise is within walking distance of many community features, including shops, schools and walking tracks.
BPG specialises in city-fringe locations and has already developed the $7 million Waterford Apartments project in Caroline Springs in November 2011.
 
 
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Boom Property Group launches apartment complex in emerging Melbourne suburb of Caroline Springs

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John McGrath says RP Data figures showing suburbs with median dwelling prices under $300,000 confirm that Gen Yers can buy an investment property in a cheaper suburb and rent in a more desirable lifestyle location.
McGrath, CEO of McGrath Estate Agents, was one of the first market commentators to notice that more first-home owners are entering the market as investors and believes that renting while investing is entirely doable if a buyer is on a good income.
“For enterprising Gen Yers who don’t want to give up their lifestyle in trendy inner-city suburbs, many are buying investment properties in cheaper areas so they can get a foothold in the market without compromising on where they live – a clever tactic,” says McGrath, CEO of McGrath Estate Agents, in a blog post on www.switzer.com.au.
“At the end of the day, the key to buying on a budget is knowing where to look.
“Here are the top five suburbs in every capital city and regional areas where the highest number of sales under $300,000 were recorded between January and today.  Note that all these suburbs recorded both apartment and house sales under $300,000.”
Sydney
Liverpool, Blacktown, Mount Druitt, Penrith, Lakemba
NSW
Dubbo, Orange, Goulburn, Port Macquarie, Taree
Melbourne
Werribee, Pakenham, Frankston, Melton South, Hoppers Crossing (You can buy apartments under $300,000 in Melbourne city (300+ sales since Jan 2011) but not houses)
Victoria
Mildura, Shepparton, Traralgon, Horsham, Sebastopol
Brisbane
Caboolture, Deception Bay, Woodridge, Redbank Plains, Eagleby
Queensland
Maryborough, Newtown, Warwick, Harristown, Gympie
Perth
Armadale, Rockingham, Gosnells, Maylands, Mandurah
WA
Collie, Boulder, Northam, South Kalgoorlie, Katanning
Adelaide
Morphett Vale, Paralowie, Salisbury North, Parafield Gardens, Salisbury East
SA
Mount Gambier, Murray Bridge, Port Lincoln, Whyalla Stuart, Whyalla Norrie
Hobart
Glenorchy, Claremont, Kingston, Moonah, Brighton
TAS
Devonport, Ulverstone, South Launceston, Newnham, New Norfolk
Darwin
Bellamack, Johnston (no apartment sales), Farrar, Rosebery, Nightcliff
Canberra
Casey (no apartment sales), Crace (no apartment sales), Forde, Bonner (no apartment sales), Macgregor
 
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