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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
There is little for the housing market to cheer about following the release of weak February lending figures from the RBA and only a small improvement in new home sales as recorded by the HIA - JELD-WEN New Home Sales report.
Housing credit increased by 0.4% during February, following an increase of 0.5% during January to be up 5.3% for the year, the weakest annual growth in RBA records going back 34 years.
During February, new home sales increased by 3% but still remained at their lowest levels in 11 years, according to research by CommSec.
Detached house sales rose by 2.2% while more volatile multi-unit sales jumped by 10.5% to a combined estimated 4,000 sales for the month. However, this is well below the more than 7,000 sales recording in February 2011 and the 8,000 sales in February 2010.
Western Australia was the strongest-performing detached new home sales market in February recording a seasonally adjusted 12.8% increase followed by New South Wales (5.3%), Queensland (3.5%). Detached house sales dropped by 7.4% in Victoria.
For the three months to February 2012 new home sales have fallen by 5.6% to be 16.8% lower than the three month period to February last year with detached sales down 17%. Multi-unit sales are up 5.4% over the February quarter but down 15% for the quarter year-on-year.
Victoria’s new housing market has felt the brunt of the slump with an 18.3% drop over the February 2012 quarter with Queensland also faring poorly with new home sales down 11.3%.
Figures compiled by CommSec based on the latest APRA monthly banking statistics show that bank housing, personal and business loans rose by 5.7% over the year to February, the slowest annual pace in four months and below the long-term trend rate of 13% while bank deposits with Australian residents grew by 9.3% over the year to February, the fastest growth in five months but below longer-term trends.
“The Reserve Bank must remain alert to the trends and keep a rate cut on the table at next week’s board meeting,” James says.
HIA chief economist Dr Harley Dale says any bounce in new home sales in February was encouraging after an awful start to 2012.
“Furthermore, it was the continued decline in Victoria from previous record highs which pulled new home sales down in February, while there was improvement everywhere else.”
“Looking beyond just one month, however, there is much work to be done to see new home sales volumes back at healthy levels across the country,” he says.
Dale says there is evidence of the beginning of a recovery in Western Australia while the prospect of policy reform in New South Wales and Queensland increases the likelihood of a lift in new home sales volumes in these states through 2012-13.
“Obviously further interest rate cuts wouldn’t go astray in helping perpetuate this recovery,” he adds.
Click to enlarge
<a href="/images/stories/hiamarch30.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/hiamarch30thumb.gif"></a>
CommSec economist Savanth Sebastian says the latest new housing and mortgage figures indicate that Australian consumers and home-buyers remain “super-cautious and that mood is continuing to constrain activity for retailers and housing-dependent businesses”.
“While the Reserve Bank doesn’t seem in a rush to cut rates, the ongoing downturn in the residential building market certainly keeps another rate cut on the table – especially given that even housing credit is growing at the weakest levels in 34 years,” he says.
“A sustained lack of new building can have serious ramifications for affordable housing. Already vacancy rates across the country are low and given the ongoing lift in migration further building will be required to alleviate the pickup in demand. No doubt the lack of new housing construction will be closely assessed by policymakers.”
Total credit provided to the private sector by financial intermediaries rose by 0.4% over February 2012, to be up 3.5% for the year with business credit increasing by 0.4% (up 1.2% for the year) and personal credit up 0.3% (down 1.1% for the year).
Savanth says private sector credit data tends to be a good forward-looking indicator on activity, with an increase in borrowings usually following by an increase in spending in the next few months.
“In that context the lack of significant growth in business credit is disappointing. At present businesses are cashed up and content to use existing cash facilities and that trend is unlikely to change anytime soon.
“Overall the Reserve Bank seems comfortable with the current position of the domestic economy. Effectively policymakers have been depressing parts of the economy (like housing and the household sector) to ensure that there is enough spare capacity for the growth in business investment and the mining sector,” he says.
“The key for the Reserve Bank is to ensure that inflation remains in check as the recovery gains traction. As such CommSec does not expect the Reserve Bank to cut interest rates until at least May,” he says.
 
 
</body></html>

lschlesinger-FZcF9M3vE6

New home sales up 3% as mortgage growth flat lines: HIA and RBA

<html><body>
Despite the big jump in pre-Easter auction listings, Melbourne’s estate agents secured a commendable 60% Saturday auction success rate, which was revised up to 61% after Sunday's results. But Sydney’s result was weaker with a 53.8% clearance rate.
Melbourne's result was consistent with the year to date, but Sydney's was significantly down on the previous week, the weakest for four weekends.
It was the first super Saturday auction weekend in both Sydney and Melbourne since late 2010, with more than 1,000 auctions scheduled for Melbourne and more than 700 in Sydney.
Not all the results are in, and it was perhaps not the truest reflection of under the hammer sentiment as many agents tried hard to avoid the pre-school holiday bottleneck by securing pre-auction sales. The McGrath agency reported 44 pre-sales among its 76 sales from 151 offerings across NSW.
The Melbourne result was up on the 59% of the prior weekend but slightly lower than the year to date clearance rate of 62% for Melbourne.
The last five Melbourne weekends have returned clearance rates in a very tight band between 58% and 61%, which indicates very consistent demand despite the fluctuations on volume.
Despite the higher Melbourne success rate rate, anedotal auctions reports suggested bidding numbers were more subdued in Melbourne than the turnouts at successful Sydney auctions.
The highest known sale in Sydney <a href="https://www.propertyobserver.com.au/new-south-wales/after-five-years-super-saturday-s-%244.95-million-sale-represents-a-half-price-haircut/2012040154109" target="_blank">was a $4.95 million sale at Burraneer</a> and in Melbourne it was a Grandview Grove Prahran house for $4.57 million. Prahran had the highest number of auctions scheduled for the weekend with 13 out of the 17 reported results sold reflecting a 76% clearance rate. Melbourne buyers' agent Mal James noted there had been a 79% success rate at the 34 auctions with $1 million-plus his buyers agency attended.
"It was a sizzling result and supports the market improvement most have been claiming in 2012," James says. But the average bidder number was two per auction, James notes.
Ian Carmichael, the Bennison Mackinnon Melbourne eastern suburbs auctioneers notesdespite a few strong results among some average outcomes, buyers were still very prepared to walk away.
“In light of the high volume of homes on offer this is a good result and shows that the market is performing consistently,” Enzo Raimondo, chief executive of the Real Estate Institute of Victoria, says.
The 61% clearance rate came from the 929 auctions reported to the REIV of the expected 1,040 auctions, with more auctions results yet to come which will see a revised tally early this week.
The same weekend last year resulted in a clearance rate of 60% from 808 auctions.
With the Easter holidays next weekend only 50 auctions are scheduled for Melbourne.
The 53.8% Sydney result recorded from 626 of the expected 737 results by Australian Property Monitors was down on the prior weekend's 59% success tally.
Sydney’s various markets performed diversely. Of the 110 reported inner-west auctions, there was a 76.4% success rate. The clearance rate on the lower north shore was 61.3% and 56.3% in the city and east. Other regions were weaker.
 In Sydney by 9.30am First National auctioneer Michael McCaffery had sold his 19 Driver Street Denistone West auction property.
“Strong bidding and for above reserve at $776,000 was a great start to the day,” he says.
There were strong registrations at many auctions including a Ray White Five Dock property that fetched $1 million. There were 31 bids from the 11 registered according to Cooley auctioneer Nick Cleary.
At the Ray White auction of Wells Street Annandale for $790,000 the selling agent Charles Bailey had nine registered buyers.
Cooley auctioneer Chris Mourd sold his 21 Trafalgar Parade Concord offering for $1.1 million well above its $950,000 reserve with five registered bidders at the LJ Hooker auction.
The overall Cooley Auctions clearance rate was 57% selling 46 of its 81 auctions.
There were four registrations for 5 Carnarvon Avenue Glenhaven, which fetched $2.16 million through Century 21 West Pennant Hills.
The Ray White offering at 36a Franklin Road Chipping Norton sold for $15,000 above reserve, which the office is claiming as a record price.
The Ray White Drummoyne office sold four of its five listings under the hammer.
Sales included a mortgagee auction when auctioneer Bram Page sold 117/2 Bond Street, Sydney for $412,000. There were eight registered bidders who saw the property move beyond its $400,000 reserve through Sydney Cove Property. The flat last traded at $345,000 in 2008. It was sold on the weekend amid spirited bidding to Allan Dabbagh, owner of Coldwell Banker Real Estate at Wattle Grove and Cumberland-Courier NSW Community's father of the year.
But there were passed ins including a five bedroom beachfront house at Barrack Point, near Shellharbour, that was passed in at $1.7 million by Ray White auctioneer Ben Mitchell.
The propertytycoon.com.au website noted just the two bidders contesting 50 O'Grady Street Clifton Hill with it selling under the hammer for $780,000.
Nelson Alexander agent Roland Paterson had been quoting between $690,000 to $750,000.
A 5/57 Spenser Road St Kilda unit sold for $500,000 as three bidders got involved.
In Melbourne the offering at 4/43 Clowes St South Yarra was passed in at $800,000 but sold shortly after for $820,000.
Andrew James of Hocking Stuart Armidale says his office sold six of seven auctions.
Grant Lynch at Allens Real Estate reported a clean sweep of the office’s three auctions in the outer eastern suburbs.
The Philip Webb agency in the eastern suburbs recorded sales in seven of its 10 auctions.
The Jas H Stephens agency team sold seven of its 10 auctions.
Based on the Saturday 6pm results, there are 133 unreported or unheld Sunday auctions in Melbourne, along with 111 unreported Sydney results.
 
Melbourne's super Saturday auction weekends since 2003
 
<table border="1" cellspacing="0" cellpadding="0" width="275"><tbody>
<tr>
<td valign="top" nowrap width="90">
Date
</td>
<td valign="top" nowrap width="104">
Auctions
</td>
<td valign="top" nowrap width="81">
Clearance rate
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
12-Dec-10
</td>
<td valign="top" nowrap width="104">
1,235
</td>
<td valign="top" nowrap width="81">
57.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
5-Dec-10
</td>
<td valign="top" nowrap width="104">
1,071
</td>
<td valign="top" nowrap width="81">
60.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
28-Nov-10
</td>
<td valign="top" nowrap width="104">
1,101
</td>
<td valign="top" nowrap width="81">
59.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
21-Nov-10
</td>
<td valign="top" nowrap width="104">
1,013
</td>
<td valign="top" nowrap width="81">
57.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
24-Oct-10
</td>
<td valign="top" nowrap width="104">
1,127
</td>
<td valign="top" nowrap width="81">
67.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
20-Jun-10
</td>
<td valign="top" nowrap width="104">
1,050
</td>
<td valign="top" nowrap width="81">
68.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
28-Mar-10
</td>
<td valign="top" nowrap width="104">
1,073
</td>
<td valign="top" nowrap width="81">
85.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
12-Dec-09
</td>
<td valign="top" nowrap width="104">
1,065
</td>
<td valign="top" nowrap width="81">
81.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
28-Nov-09
</td>
<td valign="top" nowrap width="104">
1,050
</td>
<td valign="top" nowrap width="81">
78.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
19-Apr-08
</td>
<td valign="top" nowrap width="104">
1,105
</td>
<td valign="top" nowrap width="81">
64.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
15-Mar-08
</td>
<td valign="top" nowrap width="104">
1,351
</td>
<td valign="top" nowrap width="81">
67.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
1-Mar-08
</td>
<td valign="top" nowrap width="104">
1,014
</td>
<td valign="top" nowrap width="81">
71.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
23-Feb-08
</td>
<td valign="top" nowrap width="104">
1,146
</td>
<td valign="top" nowrap width="81">
74.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
15-Dec-07
</td>
<td valign="top" nowrap width="104">
1,171
</td>
<td valign="top" nowrap width="81">
78.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
8-Dec-07
</td>
<td valign="top" nowrap width="104">
1,201
</td>
<td valign="top" nowrap width="81">
79.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
17-Nov-07
</td>
<td valign="top" nowrap width="104">
1,197
</td>
<td valign="top" nowrap width="81">
81.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
27-Oct-07
</td>
<td valign="top" nowrap width="104">
1,211
</td>
<td valign="top" nowrap width="81">
83.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
13-Dec-03
</td>
<td valign="top" nowrap width="104">
1,046
</td>
<td valign="top" nowrap width="81">
44.8%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
6-Dec-03
</td>
<td valign="top" nowrap width="104">
1,101
</td>
<td valign="top" nowrap width="81">
52.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
29-Nov-03
</td>
<td valign="top" nowrap width="104">
1,241
</td>
<td valign="top" nowrap width="81">
47.0%
</td>
</tr>
<tr>
<td valign="top" nowrap width="90">
25-Oct-03
</td>
<td valign="top" nowrap width="104">
1,115
</td>
<td valign="top" nowrap width="81">
66.5%
</td>
</tr>
</tbody></table>
 
Source: REIV
Sydney's super Saturday auction weekends since 2009
<table border="1" cellspacing="0" cellpadding="0" width="247"><tbody>
<tr>
<td valign="bottom" nowrap width="92">
Date
</td>
<td valign="bottom" nowrap width="155">
Number of properties listed for auction
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
26-Sep-09
</td>
<td valign="bottom" nowrap width="155">
678
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
27-Mar-10
</td>
<td valign="bottom" nowrap width="155">
752
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
29-May-10
</td>
<td valign="bottom" nowrap width="155">
630
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
25-Sep-10
</td>
<td valign="bottom" nowrap width="155">
666
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
30-Oct-10
</td>
<td valign="bottom" nowrap width="155">
651
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
6-Nov-10
</td>
<td valign="bottom" nowrap width="155">
625
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
20-Nov-10
</td>
<td valign="bottom" nowrap width="155">
648
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
27-Nov-10
</td>
<td valign="bottom" nowrap width="155">
779
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
4-Dec-10
</td>
<td valign="bottom" nowrap width="155">
680
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
11-Dec-10
</td>
<td valign="bottom" nowrap width="155">
627
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
26-Feb-11
</td>
<td valign="bottom" nowrap width="155">
625
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
16-Apr-11
</td>
<td valign="bottom" nowrap width="155">
646
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
29-Oct-11
</td>
<td valign="bottom" nowrap width="155">
619
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
26-Nov-11
</td>
<td valign="bottom" nowrap width="155">
662
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
10-Dec-11
</td>
<td valign="bottom" nowrap width="155">
654
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
31-Mar-12
</td>
<td valign="bottom" nowrap width="155">
702
</td>
</tr>
</tbody></table>
Source: APM
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jchancellor-FAypfDUnLy

Melbourne passes Super Saturday auction acid test while Sydney results were so-so

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The inner suburbs of Melbourne and Sydney will ring out with auctioneers’ cries this weekend in what will be the first super Saturday auctions weekend in both cities for 2012. 
The REIV calculates there will be about 1,000 auctions in Melbourne over the weekend, the first 1,000-plus auctions weekend since the December 12, 2010 weekend, when there were 1,235 auctions held with a clearance rate of 57%. 
There have only been 21 weekends of more than 1,000 auctions since October 2003, according to REIV records, with the biggest being the March 15, 2008 weekend, when there were 1,351 auctions and a clearance rate of 67%. 
REIV spokesperson Robert Larocca says this weekend will provide buyers with “the greatest choice on a single weekend since the middle of December 2010”. 
“The highest number of auctions this weekend is in Prahran with 21, followed by 17 in Brighton, Camberwell, Essendon, Kew and Northcote. 
“On the eve of this weekend the year to date clearance rate is 62%. The last five weekends have returned clearance rates between 58% and 61%, which indicates very consistent demand despite the fluctuations on volume,” he says. 
This weekend last year there were 808 Melbourne auctions, with a clearance rate of 60%. 
Last weekend 778 auctions were held with a clearance rate of 59%. 
There are 702 auctions scheduled in Sydney during the weekend, the highest number since the November 27, 2010 weekend (779 auctions) and 23% more than the 431 auctions recorded last weekend, according to Australian Property Monitors (APM). 
According to APM, Sydney has recorded 15 weekends with more than 600 auctions scheduled dating back to September 2009. 
“It is a super Saturday. It’s the biggest since late 2010,” says APM research analyst Clinton McNabb. 
“It is up 8.7% on the equivalent weekend last year (that is the one prior to the Easter weekend).  This was the April 16, 2011 weekend, with 646 auctions,” he says.
In Sydney the busiest suburbs will be Strathfield in the inner west and Coogee in the eastern beaches, which each have 11 auctions scheduled, followed by Maroubra and Paddington with 10 each. 
Auction activity will come to a virtual standstill over the April 7 Easter weekend, with just 40 auctions scheduled in Melbourne and 23 scheduled in Sydney.
 
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Melbourne and Sydney inner-city suburbs the focus of super Saturday auctions weekend

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The new foreign owners of Australia's biggest beer company, Foster's, have pledged to keep the 108-year-old Abbotsford brewery open, dismissing suggestions the inner-Melbourne plant would be sold to property developers.
Foster's chief executive Ari Mervis says the brewery, which employs more than 200 workers, will be maintained as it represented a historic link for the company.
''We have no intention of moving it or closing it, certainly at Abbotsford there is an opportunity to improve the efficiencies, but there is no intention to close it down or need to close it down,'' he told an analyst conference in London earlier this week.
Ever since Foster's was bought by global brewing giant SABMiller late last year for $12 billion plus, there’s been speculation the Abbotsford brewery would be closed and the land sold off to help pay for the acquisition.
Carlton &amp; United Breweries began making beer on the banks of the Yarra in 1904 having commenced operations at the top end of Swanston Street 23 years after Melbourne was founded in 1835.
The 10-hectare site, set four kilometres east of the city centre, comes with an estimated value of $100 million plus. The suburb <a href="https://www.propertyobserver.com.au/developments/inner-melbourne-suburb-of-abbotsford-becoming-a-development-hotspot/2012031853839" target="_blank">has become a hive of residential development activity</a>.
The brewery and its buildings – old and small by modern standards, but not heritage listed – are constrained by heavy traffic as well as inefficient work practices, analysts maintain.
Foster's could save close to $4 in reduced electricity, water, labour, packaging and freight costs on each case of beer produced at the ''antiquated'' Abbotsford site if it moved to another location, according to Merrill Lynch.
In a briefing note to clients in June, analyst David Errington said, ''on 55 million cases produced at Abbotsford, this would lead to cost savings of between $150 million and $200 million''.
Five years ago Fosters sold 12 properties adjacent to the Abbotsford brewery for $49 million.
 
 
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Foster’s new foreign owners pledge to keep Abbotsford brewery open

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Mortgage broking groups Mortgage Choice and Loan Market Group are calling on the Reserve Bank to cut interest rates next month to help encourage more first-home buyers back into the market. 
Mortgage Choice CEO Michael Russell says a rate cut is needed to stimulate the non-mining sector. 
“We’re already witnessing the extremes of a two-speed economy, evidenced in slowing demand for property and a struggling retail sector,” Russell told Property Observer. 
Russell also believes that if the government remains committed to the first-home owners’ grant, then it should look to “make it more equitable by indexing it to the median house price and backdating it to its first anniversary, July 2001”.
However, Bendigo and Adelaide Bank chairman Robert Johanson is opposed to the government intervening in the housing market and calls the grants <a href="https://www.propertyobserver.com.au/residential/federal-government-must-decide-if-housing-industry-warrants-a-handout-in-may-budget/2012032053937">“bad policy”, which unnaturally drive up the cost of housing.</a>
"The government were just giving people money to get into new houses, which transferred the value to the sellers. It just puts costs up," Johanson says.
"I think it's a waste and a distraction," he says.
BIS Shrapnel senior manager Angie Zigomanis says first-home buyer incentives bring forward demand and consequently result in a drop off further on – as has been the case in Victoria. Loan Market recorded a 20% drop in the number enquiries from first-home buyers nationwide during March. 
The fall was greater in New South Wales and Victoria with activity in those states down 25% and 23% respectively in March compared to February. Only Queensland bucked the trend with a 3% rise. 
Percentage change in first-home buyer enquiry March 2012 compared to February 2012 
<table cellpadding="0" cellspacing="0" border="1" style="width: 300px;"><tbody>
<tr>
<td valign="top" width="308">
National
</td>
<td valign="top" width="308">
-20%
</td>
</tr>
<tr>
<td valign="top" width="308">
NSW
</td>
<td valign="top" width="308">
-25%
</td>
</tr>
<tr>
<td valign="top" width="308">
VIC
</td>
<td valign="top" width="308">
-23%
</td>
</tr>
<tr>
<td valign="top" width="308">
QLD
</td>
<td valign="top" width="308">
+3%
</td>
</tr>
<tr>
<td valign="top" width="308">
SA
</td>
<td valign="top" width="308">
-8%
</td>
</tr>
<tr>
<td valign="top" width="308">
WA
</td>
<td valign="top" width="308">
-12%
</td>
</tr>
<tr>
<td valign="top" width="308">
TAS
</td>
<td valign="top" width="308">
unchanged
</td>
</tr>
<tr>
<td valign="top" width="308">
NT
</td>
<td valign="top" width="308">
unchanged
</td>
</tr>
</tbody></table>
Source: Loan Market Group
 
Loan Market corporate spokesman Paul Smith says the decision by the RBA to leave rates on hold and the major banks lifting their variable rates in February has deterred first-time buyers. 
“There had been a revival in the first-home buyer sector late last year and early this year on the back of the RBA twice cutting the cash rate in November and December, 2011,” he says. 
“But the combination of official rates staying on hold and the banks raising rates independently of the RBA has caused some confusion in the marketplace as some buyers are unsure exactly where home loan interest rates are headed.”
Smith says many sectors of the economy would welcome an interest rate cut next week. 
A Loan Market consumer survey has found more than 70% of respondents expect the RBA to cut the official rate in March. 
“Although some progress has been made in the European debt crisis, and many economic indicators are within target, there remain stalled sectors that would benefit from an April rate cut by the RBA,” Smith says. 
“The RBA has noted that the banks no longer face the cost of funding pressures that caused them to lift their home loan rates independently of the central bank. 
“So if we get a cut in the cash rate on Tuesday consumers will be hoping their lenders follow suit and pass on the reduction in full,” says Smith.
 
 
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Mortgage brokers call for rate cut and first-home owners’ grant changes

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Our property markets started the year in a tug of war, caught between falling interest rates on the one hand and market uncertainty on the other. 
Now that we’re almost a quarter of the way through the year, it’s worth reviewing what’s really going on in the property markets and what’s ahead for the rest of the year. 
CommSec economist Craig James is calling Australia the boom and gloom economy. Our economy is still growing – unlike many others, especially in Europe – and underpinned by a mining boom, but consumers and businesses are gloomy. 
And it is much the same with property – some areas are faring well, but many aren’t. 
So what gives? 
The world economy is slowly working through its problems. 
The concern of a meltdown in Europe that could bring the financial system to its knees now seems to have been averted.  And the US economy is improving, albeit slowly, however its property market is still in a slump. 
Back home we started the year with political uncertainty, which hasn’t really disappeared. Worries about the mining and carbon taxes, as well as the effectiveness of a minority government still remain. 
Add to that the fact that the banks are now raising interest rates out of line with the Reserve Bank plus threats of increasing unemployment and many of us are putting off making major purchasing decisions like buying a new house or investment property. 
What’s happening in our property market? 
Fact is, the number of properties on the market is high, properties are remaining on the market for sale longer and many buyers are still nervous about making a decision. 
Of course there is not just one “property market”. What I call “investment-grade properties” – in the middle price range (say $450,000 to $850,000) in prime locations and with an element of scarcity – are still selling well, even though there is clearly less interest from both owner occupiers and investors than there was before. 
However, “B” and “C” class properties are not selling well. 
Some have dropped in value by up to 10% and some can’t be given away (well, it’s not really as bad as that, but you’d have to give a very steep discount for someone to buy them). 
When you look at the whole of Australia, property sales are at a 16-year low, with <a target="_blank" href="https://www.rpdata.com/">RP Data</a> reporting that only 375,000 properties sold last year. In more normal times, sales were over 600,000 properties a year. 
The problem is that even though turnover is down the number of properties listed for sale is climbing, with about 310,000 properties for sale across Australia. 
This is up 23% on a year ago and more than 50% above pre-global financial crisis levels. 
So what does this all mean for the future? 
This means the market has about 10 months' supply of housing for sale, up from a more normal level of four months of stock. 
In other words, unless we see a substantial improvement in sentiment or in the economy we are not likely to see much change in house prices over the next six months. 
What these figures don’t show is how fragmented the markets really are. 
 
We know there is not one Australian property market. There are many different markets in different geographic locations and at various price brackets. 
There is no doubt that home values are still falling in some areas and they are rising in others. And overall our property markets are flat. 
It’s a bit like me putting my left hand in a bucket of ice-cold water and my right hand in a bucket of hot water and saying “on average the temperature is fine.” 
Currently there are some property markets that are strong, with more buyers wanting the short supply of available good properties, and there are other markets where the property markets are ice-cold, with few buyers available for the large number of properties available for sale. 
It’s worst at the top end. 
The top end of the market has been worst hit. 
The most expensive 20% of suburbs across Australia have registered price falls of about 6.5% over this period. And if you broke this group down further – into say the dearest 10% of suburbs – you would find steeper losses again.
<img src="/images/stories/yardneymarch30.png">
Source: RPData.com
 
 
Some green shoots 
Before all this makes you feel to gloomy, there is some good news out there:
 
<ol start="1">
<li>The vacancy rates in our capital cities are low and rents are increasing.</li>
<li>More properties are selling – sure it’s still a buyer’s market out there, but vendors are becoming more realistic and meeting the market.</li>
<li>Consumer confidence is slowly increasing. </li>
<li>Finance preapprovals are slowly rising. This always happens when new buyers are getting themselves ready to enter the market.</li>
<li>The cycle is moving on as it always does. We are now in the stabilisation stage of the property market. </li>
</ol>
So what is a property investor to do? 
While some will sit waiting for the proverbial bell to ring proclaiming that we’ve reached the bottom, others are taking advantage of the opportunities that this uncertainty is dishing up and getting set for the next stage of the property cycle by buying the right type of property. 
One with an element of scarcity, in an area that has always exhibited above average capital growth and one to which they can add value through renovations or development, thereby ‘manufacturing’ capital growth. 
We are moving into the next stage of the property cycle 
And the next stage is the stabilisation phase of the cycle. 
You see, the markets don’t move directly from the downturn phase to a property upturn. There is a period of time where buyers return and take up the slack before prices start rising. 
And I expect more buyers to return to the market later this year when they realise prices won’t fall any further. 
By the way, the stabilisation phase is a great time for savvy investors to get set for the upturn stage of the cycle. 
This year may be a good time to buy property – I have always found it a good time to buy when everybody tells you that property is a bad investment. Now is the time to get set for the future. 
I’m looking forward to the balance of 2012. Are you?
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
 
 
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myardney-DFoGhGbSJX

Australian property markets differ, and investors must find opportunities: Michael Yardney

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<a target="_blank" href="https://www.propertyobserver.com.au/landlords/fire-in-an-investment-property-leaves-unanswered-questions/2012012253108">A little while ago</a>, I shared a story with you about a fire that substantially damaged one of our rental properties.
The story overall is a little sad.  The owners were away on holidays, enjoying a summer break with their children, so it wasn’t until a few weeks later when they returned that we were able to let them know what had happened.  I suppose this is a great example of why it’s so important to let your property manager know when you go on holidays.
The tenant, after he moved into the other property we arranged for him, was severely injured in a motorbike accident. He is still recovering in hospital and will never live the life he once had.
It’s now more than two months down the track, and the rebuilding of the property is coming to an end.  The new kitchen has been fitted, the ducted heating has been replaced, the walls and ceiling replaced and repainted where required, all the electrical wiring checked and the windows replaced.
We are in the final stages of choosing the carpet colour and new blinds for the property and getting things ready for the releasing of the property again.
The property manager, Courtney, has continued to co-ordinate access for the tradespeople on behalf of the owners’ corporation.  She has also continued to ensure our owner was updated on a regular basis.
There are several aspects of this story that investors really need to think about.
Firstly, the owners have not received any rental payment throughout the past few months, and while yes, they will receive loss of rent income from the owners’ corporation insurance policy after the claim is finalised, processed and then a payout made, the challenge is managing their own cashflow during this time.  It’s been tough for them!
Secondly, if the owners had not had a current landlord insurance policy in place, they would have had to pay for replacing the carpets and blinds, at a cost of about $2,100. The owners’ corporation’s insurance policy has co-ordinated the rest of the rebuilding process.
So the next time your property manager asks you “Do you have a landlord insurance policy in place?”, I hope you remember this event and the circumstances that occurred and were through no fault of the owner.
 Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

A fire in an investment property proves the importance of landlord insurance

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2111/250 Elizabeth Street, Melbourne, VIC, 3000
<img src="/images/stories/elizstreet.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
The tenant of this one-bedroom Melbourne CBD apartment is paying rent of $425 per week and is on a lease until January 2013, but agent Nathan Gibson of Harcourts says comparable apartments in the building are leased for $465 per week. 
Gibson <a target="_blank" href="https://www.harcourts.com.au/">is marketing the property </a>with price hopes in the mid-$300,000 range, and if it sells for $370,000 that would secure an investor a gross rental yield of 5.6%, under the indicative gross rental yield for Melbourne units of 6.2%, according to RP Data. A rental of $465 per week would equate to a gross rental yield of 6.5%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $10,000 and over five years to be $36,000.
The median unit price in Melbourne fell by 7.5% in the past year, according to RP Data.
The property will go to auction on Saturday, March 31 at 2pm.
For more about prices and yields in Melbourne, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
 
<hr class="system-pagebreak">
1 Kennedy Drive, Tweed Heads, NSW, 2485
<img src="/images/stories/kennedydr.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
This three-bedroom Tweed Heads house has a development application in place for two duplexes, or an investor could retain the long-term tenant, who is paying $260 per week. Agent Jess Hutson says although the tenant is on an expired lease, that is market rent for the area.
Hutson <a href="https://www.rainbowbayrealty.com.au/sales/properties.php?id=5433912&amp;test=1" target="_blank">is marketing the property</a> with price hopes of $299,000 plus, and if it sells for that price it would secure an investor a gross rental yield of 4.5%, significantly above the indicative gross rental yield for Tweed Heads houses of 3.9%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000.
The median house price in Tweed Heads had no change in the past year, according to RP Data.
The property will go to auction on Saturday, March 31 at 1pm.
For more about prices and yields in Tweed Heads, see the RP Data suburb page.
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cknowlton-QnEa6ntUYP

Friday form guide: Yields of up to 5.6% in Melbourne

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<div><img src="/images/stories/86542.gif"></div>
<div>The total number of advertised listings in Queensland, of which 14,420 are new listings, according to RP Data. This is up from a total of 76,170 at the same time last year.</div>
<div></div>
<hr>
<div></div>
<div><img src="/images/stories/81694.gif"></div>
<div>The total number of advertised listings in New South Wales, of which 15,185 are new listings, according to RP Data. This is up from a total of 66,773 at the same time last year.</div>
<div></div>
<hr>
<div></div>
<div><img src="/images/stories/71674.gif"></div>
<div>The total number of advertised listings in Victoria, of which 12,738 are new listings, according to RP Data. This is up from a total of 48,459 at the same time last year.</div>
<div></div>
<hr>
<div><img src="/images/stories/34435.gif"></div>
<div>The total number of advertised listings in Western Australia, of which 6,477 are new listings, according to RP Data. This is up from a total of 33,116 at the same time last year.</div>
<div></div>
<hr>
<div><img src="/images/stories/20779.gif"></div>
<div>The total number of advertised listings in South Australia, of which 3,590 are new listings, according to RP Data. This is up from a total of 16,438 at the same time last year.</div>
<div></div>
<hr>
<div></div>
<div><img src="/images/stories/12285.gif"></div>
<div>The total number of advertised listings in Tasmania, of which 1,497 are new listings, according to RP Data. This is up from a total of 9,256 at the same time last year.</div>
<div></div>
<hr>
<div></div>
<div><img src="/images/stories/2313.gif"></div>
<div>The total number of advertised listings in ACT, of which 648 are new listings, according to RP Data. This is up from a total of 1,800 at the same time last year.</div>
<div>
<hr>
</div>
<div><img src="/images/stories/1725.gif"></div>
<div>The total number of advertised listings in Northern Territory, of which 389 are new listings, according to RP Data. This is up from a total of 1,644 at the same time last year.</div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
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How much stock is on the market in your state? A state-by-state analysis: RP Data

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A proposal by the federal government to vastly expand the areas around major airports that could face residential housing construction restrictions due to aircraft noise will put $33.5 billion of new housing projects at risk, according to property development lobby group Urban Taskforce Australia (UTA).
The $33.5 billion figure (which comprises 134,000 new dwellings) applies across Brisbane, Melbourne, Perth, Sydney and Canberra and was calculated by property research and advisory firm MacroPlanDimasi.
MacroPlanDimasi also estimates that values of houses in newly designated high-noise zones could fall by 5%.
The new proposals are outlined in a draft document, <a target="_blank" href="https://www.infrastructure.gov.au/aviation/environmental/nasf/files/Draft_National_Airports_Safeguarding_Framework_Combined.pdf">Principles for a National Airports Safeguarding Framework</a>, released by the National Airports Safeguarding Advisory Group on March 21. The proposal is not accompanied by any shift in established flight paths.
The proposals are aimed at minimising residential development near airports and “improving safety outcomes by ensuring aviation requirements are recognised in land use planning decisions”.
It calls for improvements made to the current Australian noise exposure forecast (ANEF) system, which has guided development around airports for the past 30 years.
The report notes that while the populations with the highest aircraft noise exposure often live within the 20 ANEF contour (an area defined as having high noise pollution and where there are currently planning restrictions), “the majority of noise complaints that are received are now coming from residents living outside the 20 ANEF contour”.
“ANEF zones do not capture all noise-affected areas, and experience has shown that the ANEF contours are not necessarily an indicator of the full spread of noise complaints.
“Just as aircraft noise does not suddenly stop at the 20 ANEF level, there is no hard and fast line where aircraft noise suddenly changes from being acceptable to being unacceptable… Aircraft noise impacts follow a continuum and clearly, noise impacts close to, but outside an identified threshold will be almost indistinguishable to the impacts on the ‘the other side of the line’,” the draft document says.
{yoogallery src=[images/stories/march29airports]}
It calls for a “complementary suite of noise measures in conjunction with the ANEF system”, including four new noise controls and provides maps showing a vastly expanded areas around 10 major airports affected by aircraft noise that could potentially face planning restrictions.
The UTA says research carried out on its behalf by acoustic engineers Wilkinson Murray shows that 1,000 square kilometres of planned development around for housing in the proposal.
“This will impact on many proposed developments as well as the value of existing properties,” says the UTA. The UTA also expressed concern at the three week exhibition period explaining the proposals, which has now passed, calling it a “far too short a period to genuinely engage in public consultation”.
It also notes reports prepared by MacroPlanDimasi (on the property and financial implications of the draft framework), CBRE (on the planning and property implications of the draft framework), Wilkinson Murray (on acoustic issues around the draft framework) and Gadens lawyers (on legal implications of the draft framework all expressed considerable concern about the draft framework.
The proposals have also been criticised by Sam Haddad, director-general of the NSW Department of Planning, who in a letter to the UTA said he doubted there was “sufficient evidence that the existing ANEF system needed to be changed”.
Haddad says the NSW government will not support the draft measures and will not be agreeing to any changes in planning policy.
Consultations on the draft framework have now closed but it has yet to be endorsed by federal, state and territory governments.
It is next expected to be considered by the Standing Council on Transport and Infrastructure (SCOTI) and subject to SCOTI endorsement, each jurisdiction would then consider implementation through its own mechanisms and may undertake further consultation processes.
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