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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>Australian Property Monitors (APM) has released a list of results from 358 auctions in Sydney for the weekend of March 17. The clearance rate was 58%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 358 Sydney auction results showing a clearance rate of 58%

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This article is not about how to prepare your home for an open inspection.
We all know about the recently cut lawn, the new paintwork in and out and the old trick of the smell of freshly baked bread throughout the house.
This article is about the risk of inviting complete strangers into your home and the consequences.
There is an ongoing and endless debate about whether a property is best shown to prospective buyers through open or private inspection. Some of the factors include market exposure, owners’ privacy and security. But if you do decide to allow open inspections you need to seriously consider some important issues.
At the top of them all is that for many sellers there is a question of security.
Allowing strangers into your home invites the risk of on-the-spot theft of valuables and for potential burglars “to case the joint” and come back days or weeks later when the time is right. They will have noted the floor plan, alarm system, the doors and windows that are easy to enter through and made a list all of your valuables. Most frightening of all is that they will also gather information about you and your family and your daily habits. They will know when you are generally not at home.
If the above scenario hasn’t already started to worry you as a home seller, then think about insurance and public liability.
The fact is that most homes are not insured for theft in the case of open inspections or in some cases for public liability. A thief could steal your Picasso right off the wall, your Rolex watch and several sets of your wife’s lingerie. And to cap it all, a prospective buyer could slip on your front steps and break his leg. Ergo: the devil hides in the detail, so talk to your insurance company well before you agree with your selling agent to open your house to the public. 
If your home is in the multimillion-dollar range and is being widely marketed in the media with an open invitation to the public to inspect it please read on.
What can you do to avoid these pitfalls? You can’t blame the selling agent. You agreed to open your house. 
Take important steps to counter risk:
<ul>
<li>Talk to your home insurance agent and check whether you are covered for theft, damage or public liability during open inspections. If you aren’t, add the cover for the specific period.</li>
<li>Remove your valuables from sight, lock them up or take them off the property. Don’t let people see or handle them. You are selling your home, not your personal items of value.</li>
<li>If you have a large home with multiple levels and entries insist that your selling agent always has several members of staff at the open inspection. A single agent is simply incapable of watching every person who enters your property. The minute she turns her back someone can steal your valuables or damage your property.</li>
<li>Engage a security guard who will be present inside your home to keep an eye on possible theft during the open inspection. If you are in the squillion-dollar price range engage a second guard to control who comes in and out. </li>
</ul>
Your final decision as a seller to show your home either by open or private inspection is essentially down to the question “Which method will ensure the highest sale price at the least risk?”
<div>
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a target="_blank" href="https://www.primepropertybuyer.com/">Prime Property Buyer</a>.
 
 
 
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How to keep your valuables safe when you open your home for inspection

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It sounds simple enough. You embark on a journey to find the perfect property. This could be either your dream home to live in or that next investment property to add to your portfolio to make a sound return and a nest egg for the future. It doesn't matter if it's a tiny studio apartment with one window or a grand palatial manor on acreage, you've decided now is the time you want to take that plunge. And good on you!
So you do your due diligence, research, and investigation, all to get your ducks in a row. And now, armed with your precise budget, list of “needs” and “wants”, and target town/suburb/city, you hit the market to go shopping. Better still, your peers, your friends, family, colleagues, and mentors are all saying, “It's a cooler market, you'll pick up a great bargin!” This all sounds great! Off you head to your first weekend of open home inspections with a whimsical spring in your step. But as you look at places you start to ask yourself, “How do you I know if this is a bargain?”
Before you can know if you have found a bargain, you must first think about how to define the word itself, because it actually means different things to different people. More commonly, people tend to associate the word “bargain” with words like “cheap”, “reduced”, “discounted” and “low-cost”. And personally, those kinds of definitions are the first things that come to mind when I hear the word. I'd even go one step further and say that before becoming a property investor myself, my expectation was that a bargain is price reduction. But a true bargain, should you find one, can be so much more than this.
I got to thinking about how you can go beyond price and got stuck on the letter P. This is a good thing. My definition looks something like the below. And note, your perfect bargain could be just one of these factors, a mix of a couple of them, or indeed a blend of the entire list. It all depends on the property itself, and your attitude.
Price:
Yes, I put it up top. Undoubtedly, if a three-bedroom house in your target suburb medians at say $600,000, and you've found one asking $500,000, it's worth a first look. And lots and lots more looks. Price is a great indicator, but remember, a heavily discounted price is heavily discounted for a reason. You'd just prefer that reason to be something like a foreclosure, unfortunate death, etc, rather than say, an entire house needing re-stumping.
Potential:
By this I mean scope for renovation or improvement. Improvement isn't translated as renovation! For instance, a townhouse on a hill, 10 kilometres from the city, with a giant tree in the front garden. It just so happens that tree is blocking a magnificent view of the skyline (or beach, or mountains, or whatever). You know if you had lopping approval, that view would add instance value. Or, indeed, it could merely be that a couple licks of paint refreshes it completely.
Position: 
Location location location is what they always say. The good old “worst house in the best street” comes to mind here. Truth is, it's more than just the location of the dwelling, but the position of other factors (is it north-facing? Does it have a great view? Is it a quiet street?).
Prestige: 
There is the obvious prestige of the suburb/neighbourhood itself, along with the street within that neighbourhood. But what of other prestigious things? Unique architecture, for one. Everyone seems to go ga-ga for Art Deco, for instance (even though we know agents market some properties with the dubious tag “Art Deco-style”), and true Art Deco indeed only exists in a finite number of properties. Why? They simply aren't making that style any more. Or it could be more topography. Sure, position takes care of best suburb/street, but what of that amazing golf course/marina/country club nearby? Future buyers of your property might find this locale hugely prestigious.
Let's take an example that actually happened to me recently. I inspected a property and was convinced it was a bargain. It was a top-floor two-bedroom renovated apartment in a very popular Sydney inner-west suburb, in a quieter street with a private leafy outlook and many other trimmings. It was going for the same asking price as others in the area, unrenovated, on busier roads. I knew I had to act quickly. The property was listed only on Thursday, and Saturday was to be the first viewing. I knew right away that there would be no second viewing needed, and I was right – it was snapped up less than 11 minutes after the viewing timeslot finished! How do I know? Well take a guess who put the first offer in? Yours truly! The agent emailed back, seconds later, advising an offer was made at asking price. I would have happily paid more because I was confident it was a bargain, but I knew I was already at my comfortable maximum (sometimes you have to know when to walk away). The place had a great mix of price, prestige and position. Sure, the potential was minimal because it'd been renovated, but the other three elements made it a true bargain.
Many markets throughout Australia are indeed in a cooling phase. This is a natural cyclical occurrence in the grand scheme of any property market, and rookie investors should not be scared of it. While the tabloid and fear-producing media may bolster some bold, attention-grabbing headlines likening the state of the property market to, say, the world ending in December (or something equally as dramatic), the reality is the market is in a downswing. The lesson to impart here, then, is that not only can bargains be found and had in all kinds of markets (hot, cold, and everything in between), but bargains can exist in many different flavours (price, potential, position, and prestige). You just need to access which flavours taste better regardless of the temperature.
Cameron McEvoy is a property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
 
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There is more to a property bargain than price

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After years of the banks fighting it out to lend to households and business owners, it’s your cash that is now a sought-after commodity at banks and credit unions. And the interest rates being paid to get your cash have been climbing steadily.
While this might seem like a good thing, you should be looking very hard at where your money is going, what rate you’re paid and what conditions are attached to your deposit.
The basics of saving are: when you borrow from the bank, you pay an interest rate for the use of the bank’s money. When the bank takes money from you, it pays you to use your money in the form of a deposit rate.
The bank lends your cash to a business owner or a home buyer, and it makes its profit by paying you less for your cash than they charge the borrowers.
Quite a bit more, actually. Did you know that banks earn, on average, 2.4% more on your deposits than they pay to you? This gap is called the “spread”.
And the lower your interest rate, the more the bank makes off your money. Regardless of whether you are getting 4% or 4.5% for your deposits, the bank’s personal loan rate is still 14%.
When you accept a low interest rate, you are helping the banks make bigger profits than if you held out for a higher rate.
When you deposit money, you should ask questions. For example, once the bank has quoted you its deposit rate, ask what its rate is for wealthy customers, for institutions and “private bank” customers.
You see, it’s not unusual for small savers to be paid a lower interest rate than wealthy customers on the same savings product.
In this regard, you should know that banks earn the greatest profit from your transaction accounts. Individuals’ and small businesses’ transaction accounts usually earn zero interest, yet the bank uses this money for highly profitable “overnight” money lending. They should be paying you a deposit rate on these accounts.
You should also know how the term deposit game works. A bank pays you a fixed amount for a set time but if official interest rates are rising, it charges the borrower more while your interest rate stays the same. And if you want to get your money out early, the bank charges you a penalty – up to 90% of your interest.
And watch for this: when banks promote high-interest special offers – the promised rate is often for an introductory period before reverting to a much lower rate. There are products where you can be offered 5.75%, but it only lasts for four months before reverting to 4.75%.
Perhaps the biggest decision is how to offset a high deposit rate against convenience of access.
The highest deposit rates you can find involve you being unable to touch the cash for a period of time – as with term deposits – or being charged to take the money out, as with managed funds.
Conversely, you find that transaction accounts – which allow you to take money out at will – have either zero, or very low deposit rates.
The best trade-off is the account where you have a term deposit-like rate and on-call access to your money. Some online accelerator accounts work this way.
In the future, keep an eye out for “enhanced” cash management accounts, which will pay institutional deposit rates while also allowing easy access to your money.
For now: ensure you have the access to your cash that your lifestyle or business requires, and never be afraid to ask for a better deposit rate.
And one final tip: you don’t have to forgo interest for a “deposit guaranteed” account. The federal government guarantees all deposits at Authorised Deposit-taking Institutions (ADIs), under $250,000.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
 
 
 
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How to get the best deal from your bank

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The inner-Melbourne suburb of Abbotsford is becoming a development hotspot as the suburb sheds its industrial past and buyers look for inner-city living on the Yarra River.
Some developers are revamping the existing factory and warehouse buildings to create contemporary designs with a nod to the past, while others are going the more modern route.
<img src="/images/stories/trenerry-river.jpg">
One example of the former is the Trenerry project (pictured above and below), a 109-unit development in a heritage industrial building.
“It also features a chimney stack, giving Trenerry a look and feel that is unmistakably Abbotsford,” says Rob DiCintio, director of Trenerry Property Group.
<img src="/images/stories/trenerrycar.jpg">
Builder Hamilton Marino has begun construction on the development, which is due for completion in mid-2013.
The apartments went on sale in October last year, and so far developers Trenerry Property along with the Victor Smorgon Group and the Kanat family have sold 65% of the units, or $42 million in pre-sales.
Its one-bedroom, one-bathroom apartments are priced from $465,000, with the two-bedroom, two-bathroom apartments from $530,000. Both configurations come with one car park. Some 92 of the two-bedroom apartments will have two-bathrooms, along with all the three-bedroom apartments.
The average apartment size will be 75 square metres internally, plus all apartments come with balconies, offering riverfront, CBD or Studley Park views. The development comes with easy access to the Capital City Trail.
It has been designed by Carabott Holt Architects.
<img src="/images/stories/greensquare2.jpg" style="border-style: initial; border-color: initial;">
A developer taking the opposite approach in Abbotsford is Salta, whose Green Square development (pictured above and below) is ultra-contemporary with an emphasis on sustainability.
Far from an industrial focus, the appropriately named Green Square aims to embrace the natural environment, with numerous open spaces for residents.
<img src="/images/stories/greensquare1.jpg" style="border-style: initial; border-color: initial;">
“The architectural vision for Green Square is to bring together the energy of contemporary urban living with the calm and gentle amenity of the adjoining Yarra River that will imbue the green open spaces permeating the project,” says Charles Justin of SJB Architects, which is designing the project.
The development will feature 467 one- and two-bedroom apartments across four buildings, 210 one-bedroom units and 257 units with two bedrooms. Of the two-bedders, 222 will include two bathrooms.
One-bedroom apartments will range in size from 47 square metres to 57 square metres and start from $369,000.
<img src="/images/stories/greensquare5.jpg">
Two-bedroom apartments, which start from $525,000, range in size from 63 square metres to 92 square metres. All of the units come with outdoor areas.
<img src="/images/stories/greensquare6.jpg">
The development launched in February 2011, and thus far 62.5% of the apartments have been sold. Construction is due to begin in June of this year and finish in May 2014.
So far, two-thirds of buyers who have been owner-occupiers.
Jack Merlo of Jack Merlo Design says buyers are drawn to a sense of community fostered by the project.
<img src="/images/stories/greensquare7.jpg">
““The importance of recreational space is often overlooked when designing residential apartments – we have been fortunate to set a new precedent with Green Square. The combination of semi-secluded and open spaces encourages people to indulge in private and public amenities including an edge pool, barbecue areas, day beds and shaded spaces,” Merlo says.


<hr class="system-pagebreak">
Developer Hamton is taking a slightly different approach in the suburb, with its Haven development (pictured below), aimed at prestige buyers. Haven is the second of a three-stage development in the area, and the first, 201-unit Eden, sold out. The three together are set to have 560 apartments.
<img src="/images/stories/haven1.jpg">
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site,“ says Hamton joint managing director Paul Hameister.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
The same demographic has snapped up Haven units, with 30% of the 148 units sold in the first fortnight of marketing in November last year.
Hamton sales director Cameron Yates says there has been in upturn in inquiries from and sales to high-end buyers since February this year.
<img src="/images/stories/haven2.jpg">
“We have seen a bounce in the market in the last month – particularly from the discerning owner-occupier looking for premium location and facilities,” he says.
<img src="/images/stories/haven3.jpg">
“Of the 24 apartments sold since the 6th February, 10 were priced over $900,000. Three penthouse suites sold for between $1.9 million and $2.3 million. Quality product and outstanding lifestyle amenity always have a place in the market.”
Haven will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street. 
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
All three developers are making use of Abbotsford’s riverside location and open spaces.
“The desire for waterfront living in city-fringe areas is an evolving trend in the Melbourne market,” says Rob DiCintio, director of Trenerry Property Group.
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Inner-Melbourne suburb of Abbotsford becoming a development hotspot

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The housing market remained in neutral in February, with Perth the standout market, according to Residex.
Perth house prices appreciated by 2.32% in February to a median of $478,500, and unit prices lifted 2.1% to a median of $382,500.
Sydney house prices lifted 1.35% over February to a median house price of $657,000 while units fell 1.2% to $483,500.
Overall house prices lifted 0.42% over February while units fell by 0.49%.
Melbourne’s housing market continued to decline, with house prices dropping just over 1% to $558,500 while Brisbane house values fell 1.12% to $422,500.
Over the last three months, Melbourne house prices have depreciated the greatest among the major capital city markets falling 2.75%.  It also the weakest performing capital city over the past 12 months with house prices down 6.57%.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
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<td valign="top" width="123">
 
</td>
<td valign="top" colspan="2" width="246">
Houses
</td>
<td valign="top" colspan="2" width="247">
Units
</td>
</tr>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
Median price
</td>
<td valign="top" width="123">
Change over Feb
</td>
<td valign="top" width="123">
Median price
</td>
<td valign="top" width="123">
Change over Feb
</td>
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<td valign="top" width="123">
Sydney
</td>
<td valign="top" width="123">
$657,000
</td>
<td valign="top" width="123">
+1.35%
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<td valign="top" width="123">
$483,500
</td>
<td valign="top" width="123">
-0.25%
</td>
</tr>
<tr>
<td valign="top" width="123">
Melbourne
</td>
<td valign="top" width="123">
$558,500
</td>
<td valign="top" width="123">
-1.02%
</td>
<td valign="top" width="123">
$424,000
</td>
<td valign="top" width="123">
-0.61
</td>
</tr>
<tr>
<td valign="top" width="123">
Perth
</td>
<td valign="top" width="123">
$468,500
</td>
<td valign="top" width="123">
+2.32%
</td>
<td valign="top" width="123">
$382,500
</td>
<td valign="top" width="123">
+2.1%
</td>
</tr>
<tr>
<td valign="top" width="123">
Brisbane
</td>
<td valign="top" width="123">
$422,500
</td>
<td valign="top" width="123">
-1.12%
</td>
<td valign="top" width="123">
$346,500
</td>
<td valign="top" width="123">
-0.67%
</td>
</tr>
<tr>
<td valign="top" width="123">
Adelaide
</td>
<td valign="top" width="123">
$387,500
</td>
<td valign="top" width="123">
-1.22%
</td>
<td valign="top" width="123">
$299,500
</td>
<td valign="top" width="123">
-1.9%
</td>
</tr>
<tr>
<td valign="top" width="123">
Darwin
</td>
<td valign="top" width="123">
$480,000
</td>
<td valign="top" width="123">
+0.46%
</td>
<td valign="top" width="123">
$393,000
</td>
<td valign="top" width="123">
+0.83%
</td>
</tr>
<tr>
<td valign="top" width="123">
ACT
</td>
<td valign="top" width="123">
$532,500
</td>
<td valign="top" width="123">
+0.93%
</td>
<td valign="top" width="123">
$413,500
</td>
<td valign="top" width="123">
-2.35%
</td>
</tr>
<tr>
<td valign="top" width="123">
Hobart
</td>
<td valign="top" width="123">
$379,000
</td>
<td valign="top" width="123">
-1.73%
</td>
<td valign="top" width="123">
$260,000
</td>
<td valign="top" width="123">
-3.55%
</td>
</tr>
</tbody></table>
Source: Residex
The February Residex results come out as a report in the Wall Street Journal claims the Australian housing market “party” is coming to an end.
“Australian home owners sidestepped the worst of the global financial crisis as the country's housing market held up well. But the party looks close to an end,” writes the WSJ’s Cynthia Koons.
“Despite the country's resource riches, the economy is faltering. Corporate profits are down and the unemployment rate is worsening. When commodities prices dropped in the fourth quarter, gross domestic product growth disappointed.”
Koons says such weakening data is flowing through to the property market, highlighting the 7.3% drop in new home sales in January, the recent weak ABS mortgage lending figures and recent drop in capital city house prices.
Worse, she says Standard &amp; Poor's has calculated the Australian household debt-to-income ratio at about 150% higher than the ratio in the US just before the subprime mortgage crisis in late 2007.
“Meanwhile, Australia's major banks have been forced to increase mortgage rates due to the higher cost of funding in global markets. Faced with a slowing economy and higher interest payments, Australians are surely more likely to pay down debt rather than borrow more to fund home purchases,” Koons adds.
Residex CEO John Edwards does not share this gloomy outlook, predicting that the housing market is about “three-plus months away from any Australia-wide pickup”.  Edwards bases this prediction on demand for Residex’s predictions reports, which are bought by investors ahead of a property purchase.
Click to enlarge
<a href="/images/stories/residexmarch16.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/residexmarch16thumb.jpg"></a>
“As you can see, report sales have dramatically increased since mid-2011, indicating that our housing market is about to start moving forward as activity increases,” he says.
“If the sales activity for each state was equally spread based on housing population, we could assume that all markets in Australia are about to move forward and that the worst is over, however as it turns out, our Predictions Report sales activity is limited in some states.
“Currently, interest surrounds Western Australia, New South Wales and Queensland, while activity for the Melbourne market is about 50% of that in both of Sydney and Brisbane.
“Perth is exhibiting an increase in sales activity also, but only at 15% of the sales activity occurring in Sydney and Brisbane.
“The western capital city has experienced such a significant downturn that investor recognition of a pending upturn will probably be a little slower in this market compared to others, however it is moving to growth more quickly than we envisaged, and we have been advising that this is the market to watch for a number of months now,” he says.
 
 
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lschlesinger-FZcF9M3vE6

Perth beats Sydney in flat February housing market as Wall Street Journal warns of housing ‘creaks’ 

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Point Piper retains its status as the priciest suburb in Australia, recording a $5.21 million median house price during 2011. It came from just the 14 houses, according to RP Data.
Tamarama came in as Australia’s second most expensive suburb, according RP Data research analyst Cameron Kusher.
He notes the number of suburbs with a median house or unit price of $1 million or more fell by 13.8% in 2011 compared with 2010.
A total of 194 suburbs across the country had a median house price of $1 million or more.
Kusher says that to be considered for the list of the top 10 most expensive, the suburb had to have at least 10 sales.
The results also showed that the number of suburbs on the list remains higher than in 2009, however it represented a drop of 31 suburbs on 2010.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/priceysuburbs.gif"><img src="/images/stories/priceysuburbsthumb.gif"></a>
During the past 10 years, the number of suburbs with a median house or unit price of $1 million or more has increased from just 43 suburbs nationally to a peak of 225 suburbs nationally in 2010.
Excluding Tasmania and the Northern Territory, each state or territory has at least one suburb.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/priceysuburbs2.gif"><img src="/images/stories/priceysuburbs2thumb.gif"></a>
Back in 2002, only New South Wales, Victoria, Western Australia and the Australian Capital Territory had suburbs with a median price of $1 million or more, with 91% of all suburbs located in New South Wales.
Only 59% of suburbs were in New South Wales this year.
According to Kusher, the results highlight the stronger value growth conditions outside of New South Wales over the past decade.
 
 
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jchancellor-FAypfDUnLy

Point Piper retains its crown as Australia’s priciest suburb, but Toorak loses its mantle to Deepdene

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Sydney and Perth suburbs, many of them in the cities’ outer rings, dominate a list of 42 top price growth hotspots for 2012.
The 42 suburbs have been cherry-picked from the “601 Top Suburbs” report compiled by Smart Investor magazine.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Out of the 601 suburbs, only 19 are expected to show price appreciation of more than 5% with eight each in NSW and Western Australia and three in Queensland.
Indicating the subdued outlook for Victoria in 2012, only seven suburbs are forecast to deliver returns of 4%.
The NSW list is made up entirely of Sydney suburbs, with half of these in the outer west – a growth hotspot identified by the likes of <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164" target="_blank">SQM Research director Louis Christopher and Douglas Driscoll, CEO of Starr Partners</a>.
The WA list indicates a developing hotspot south of Perth, with median house price in Thornlie, Canning Vale and Willetton expected to grow more than 5% in 2012.
The Queensland list is made up entirely of remote mining towns.
NSW top growth suburbs in 2012 (5% plus)
<ol>
<li>Cremorne Point units (north shore)</li>
<li>Hillsdale units (eastern suburbs)</li>
<li>Smithfield houses (outer west)</li>
<li>Five Dock houses (west)</li>
<li>Condell Park houses (outer west)</li>
<li>North Rocks houses (outer west)</li>
<li>Villawood houses (outer west)</li>
<li>Marsfield units (north west)</li>
</ol>
WA top growth suburbs in 2012 (5% plus)
<ol>
<li>West Perth houses and units</li>
<li>South Hedland houses (mining, Pilbara)</li>
<li>Willetton houses (south Perth)</li>
<li>Bassendean houses (north east Perth)</li>
<li>Port Kennedy houses (outer south Perth)</li>
<li>Thornlie houses (south east Perth)</li>
<li>Boulder houses (west Perth)</li>
<li>Canning Vale houses (south Perth)</li>
</ol>
Queensland top growth suburbs in 2012 (5% plus)
<ol>
<li>Moranbah houses (mining, Isaac region)</li>
<li>Blackwater houses (mining near Rockhampton)</li>
<li>Emerald houses and Units (mining, central highlands)</li>
</ol>
Victoria top growth suburbs in 2012 (4%)
<ol>
<li>McCrae houses</li>
<li>Kialla houses</li>
<li>Maryborough houses</li>
<li>Portland houses</li>
<li>Horsham houses</li>
<li>Red Cliffs houses</li>
<li>Miners Rest houses</li>
</ol>
South Australia top growth suburbs in 2012 (4% plus)
<ol>
<li>Roxby Downs houses</li>
<li>Ingle Farm houses</li>
<li>MunnoParaWest houses</li>
</ol>
ACT top growth suburbs in 2012 (4% plus)
<ol>
<li>Gungahlin houses</li>
<li>Monash houses</li>
</ol>
TAS top growth suburbs in 2012 (4% plus)
<ol>
<li>New Town units</li>
<li>Queenstown houses</li>
<li>Lenah Valley houses</li>
<li>New Town houses</li>
<li>Blackmans Bay houses</li>
</ol>
NT top growth suburbs in 2012 (4% plus)
<ol>
<li>Roseberry houses and units</li>
<li>Bellamack houses</li>
<li>Parap units</li>
<li>Stuart Park houses</li>
<li>Bakewell houses</li>
<li>Gunn houses</li>
</ol>
 
 
 
<ol></ol>
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The 42 brightest prospects for price growth on Smart Investor's list of top 601 suburb hotspots

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Sydney office landlords will be encouraged to undertake more environmentally friendly office refits under a new “green loans” program.
The program is a joint initiative between the City of Sydney and independent government-backed consultants Low Carbon Australia Ltd (LCAL).
The program has $100 million in initial funding set aside following agreements with NAB and Eureka Funds Management. Under the program, the building owner will sign an environmental upgrade agreement with the LCAL and the City of Sydney for an approved sustainable refit.
The funding is then paid by the city council, with the building owner paying back the cost of the refit as a levy on council rates.
The LCAL is now embarking on an education program for landlords, with the first upgrade agreement expected to be signed within months.
“Any decisions on building upgrades are really two- to three-year time frames, so we are really trying to get to as many of the building owners who are at that stage so they can see this as an option that might allow them to undertake a bigger upgrade than they had originally planned,” LCAL chief executive Meg McDonald told the Australian Financial Review.
The program is part of the City of Sydney’s own plan to cut carbon emissions by 70% by 2030.
City of Sydney chief executive Monica Barone says the city already has close ties with the owners of 60% of the city’s existing buildings through the Better Buildings Partnership, an initiative aimed at improving the sustainability performance of existing commercial and public sector buildings across Sydney's local government area.
Barone says there is already a high level of interest and commitment from commercial landlords.
Buildings are responsible for about 80% of greenhouse gas emissions in urban environments, according to City of Sydney sustainability director Chris Derksema.
 
 
 
 
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Green loans on offer for Sydney office refurbishments

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Myer will make decisions about the future of each of its stores when it discusses lease renewals with landlords in 2012, the department store group has said as part of its interim results announcement to January 28. 
“In the current environment it is not unexpected that our discussions with landlords highlight adjustments in the timing of new stores and redevelopments,” said Myer chief executive Bernie Brookes. 
“We have recently taken the decision not to proceed with a planned new store at Watergardens [Victoria], as significant delays in this development led to Myer exercising its right to exit the agreement. 
“We will continue to provide updates on new store openings when we have certainty from developers. 
“We will continue to review the merits of all new and existing stores particularly in the context of lease renewal discussions,” says Brookes. 
Myer will open two new stores at Fountain Gate (Victoria) and Townsville later this year, and construction is also underway at a new store at Shell Harbour (NSW). 
Over the six-month reporting period ending January 28, Myer closed its store at Forest Hill (Victoria), and more recently Tuggeranong (ACT) as the leases at these stores expired. 
Brookes identified “improved store lease terms” as factors that Myer can influence over the next six month to improve the business in what will be a “challenging trading environment”. 
Myer profits fell 17.5% in the second half of fiscal year 2012 with the retailer reporting net profit of $88 million. 
The retail giant recorded sales of $1.43 billion in the six-month period – a 1.7% reduction on the previous period. Comparable store sales were down 3%. 
 
 
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