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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The “time to buy a dwelling” sentiment has improved 1.7% in March to be up 5.5% over the past 12 months, according to the March Westpac–Melbourne Institute Index of Consumer Sentiment.
Housing sentiment was the only bright spot in the March result, which showed consumer confidence has retreated to levels prior to the interest rate cuts of November and December.
While the housing outlook improved, the attraction of shares continues to deteriorate.
Only 5.4% of respondents nominated shares as the wisest place to put their money – the lowest proportion since the early 1990s.
The overall index fell by 5% in March from 101.1 to 96.1, below the level in October last year, and was based on the responses of 1,200 adults aged 18 and older conducted from March 5 to 9.
With the index below the 100 level, pessimists clearly outnumber optimists.
The “time to buy a vehicle” sentiment fell by 2.8% to be down 7.8% for the year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch14.gif"><img src="/images/stories/westpacmarch14thumb.gif"></a>
Commenting on the results of the survey Westpac chief economist Bill Evans says the “case has already been made for lower rates in Australia but expect that, at this stage, the board is not convinced.
“More time will be required before we see another rate cut. Our best expectation is in May or June,” he says.
According to Evans, the March result showed that sensitivity to interest rates has “clearly been one factor responsible for this weak print”.
“The survey in February closed off before it was announced that banks were raising their mortgage rates despite the Reserve Bank having kept the official cash rate on hold.
“Recall that the survey in February covered the week of the Reserve Bank’s board meeting. At the beginning of the week media reports had led respondents to confidently expect a 0.25% rate cut from the Reserve Bank,” says Evans.
“With the two previous rate cuts in November and December being passed on in full by the banks it is reasonable to assume that many borrowers expected a further cut in the mortgage rate of 0.25%. 
“Instead, mortgage rates were actually increased in the following week with banks raising mortgage rates by an average of 10 basis points. 
“It is likely that this reversal has impacted confidence. 
“This ‘rate effect’ is consistent with the 6.8% fall in the confidence of those folks who have a mortgage. However this observation does not explain why there was a 10.8% fall in the confidence of respondents who are renting accommodation. 
“There are other forces at work. Petrol prices for example, rose 3% between the February and March survey to average around $1.45 a litre,” he says.
Evans says supplementary questions indicate that respondents are particularly concerned about economic conditions and employment with notable weakness in how respondents view their finances. 
“The subindexes tracking responses on ‘family finances compared to a year ago’ fell by 8.6%; and ‘family finances over the next 12 months’ fell 4.5%. 
“The economic outlook also deteriorated, the sub-indexes tracking views on ‘economic conditions over the next 12 months’ fell by 2.5% and ‘economic conditions over the next 5 years fell by 6.1%,” Evans says,
“Saving plans continue to be very conservative with 34.6% of respondents assessing bank deposits as the ‘wisest place for savings’. That is up from 30.1% in December although below the record 37.8% proportion in September 2011,” he says. 
The sub-index tracking views on “whether now is a good time to buy a major household item” fell by 3.8%.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Slight improvement in housing sentiment defies drop in consumer confidence in March: Westpac Index

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Property group Stockland has continued with its plans to reweight the business in favour of retail assets, announcing an agreement to sell its 55% stake in the Moorebank Industrial Property Trust (MIPT) for $123 million.
It will sell its stake in the trust to Qube Logistics, one of the MIPT joint venture partners, with settlement expected before June 30 2012.
According to Goldman Sachs REIT analyst Peter Zuk, the Moorebank site is Stockland's second largest industrial asset (by book value) representing 14.2% of its industrial portfolio.
The proposed industrial sale follows Stockland announcing its <a target="_blank" href="https://www.propertyobserver.com.au/retail/stockland-buys-centro-townsville-directly-opposite-current-stockland-centre/2012031253806">purchase of Centro Townsville for $36.5 million earlier this week.</a>
Stockland has also announced it would extend its on-market security buyback to up to 10% of issued capital, “reflecting its commitment to increasing returns through active capital management”.
Stockland CEO of commercial property John Schroder says the sale supports Stockland’s strategy to reweight its commercial property portfolio from office and industrial to higher-returning retail assets.
“While the proposed Moorebank Intermodal terminal remains a key NSW infrastructure project, it is not aligned with our strategy and its sale supports our active capital management program,” he says.
“This brings our total asset sales so far in the 2012 financial year to $918 million – funding we use to improve security holder returns through our security buyback and investing for future growth as well as maintaining low debt.”
Schroder’s comments echo those made by Stockland CEO Matthew Quinn at its interim results briefing last month when he said the property group <a target="_blank" href="https://www.propertyobserver.com.au/retail/stockland-continues-to-focus-on-higher-yielding-retail-commercial-property/2012020953322">would continue to sell its commercial and industrial assets and use the proceeds to reinvest in higher-yielding and less volatile retail assets.</a>
Retail assets have generated returns of 10% for Stockland, while industrial assets have generated 8.3% and office assets 7% return.
Following the latest announcement, Quinn says Stockland remains committed to growing its return on equity by selling lower-yielding assets to invest accretively in its own securities and fund future growth.
“Our securities are trading at a level that in our view does not reflect the underlying value of our business nor our strong capital position,” he says.
“With our conservative balance sheet and ongoing asset sales, we are well placed to continue to fund our buyback up to 10% of issued capital while retaining our strong financial position with low gearing and long-dated debt.”
Stockland’s gearing at December 31 2011 was 23%. Taking into consideration the asset sales program and the full cost of the extended buyback, pro forma gearing will remain around this level.
A minimum liquidity buffer of at least $500 million will continue to be maintained.
Stockland announced on August 19 2011 that it would undertake an on-market buyback of up to 5% of its issued capital (119.2 million securities). So far Stockland has bought back 4.75% of securities (113.2 million) at an average price of $3.02.
 
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Stockland to sell stake in industrial trust as reweighting towards retail continues

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A 22% drop in first-home buyer numbers in January, most of which occurred in NSW, indicates that talk of a housing market recovery in December last year might have been premature, says AMP chief economist Shane Oliver.
In absolute terms ABS figures show the number of NSW first-home buyers fell from 4,280 to 2,686 (the lowest number since September 2011), while the size of the average first-home buyer mortgage dropped slightly from $297,000 to $295,000.
In comparison, in Victoria, where there have been recent changes to stamp duty concession rules, first-home buyer numbers fell relatively modestly from 2,276 to 1,905. Western Australia was the only state where the number of first-home buyers increased (rising slightly from 1,263 to 1,278).
The fall in NSW first-home buyers was accompanied by a 6.3% drop in NSW mortgage commitments following a 7.6% rise in December as NSW first-home buyers rushed to buy homes ahead of the December 31 cut-off for stamp duty concessions on existing properties.
Overall, the mortgage market dropped 1.2% over January, well below CommSec expectations of a 2% gain over the month.
Oliver says the December figures were heavily distorted by the NSW stamp duty concession deadline.
“Virtually all that has happened is demand has been pulled forward, and we’re still looking for the fundamental recovery to come,” he says.
SQM Research managing director Louis Christopher is also bearish about a recovery, currently “neutral to negative about any type of rebound in approvals for February”.
“We believe the independent rise in lending rates by the major banks dented sentiment for the month, which has transpired into soft auction clearance rates in Sydney and Melbourne for this time of year. It is possible though that there may be a continued recovery in housing finance approvals for states such as Western Australia,” he says.
According to Christopher, when you exclude refinancing from the equation NSW mortgage commitments actually fell by greater than 6.3%.
“Unfortunately the ABS does not provide a state breakdown excluding refinancing, so there is a bit of guess work there,” he says.
December quarter figures released by Real Estate Institute of Australia (REIA) today show the two rate cuts of November and December helped push up house prices by 0.7% over the three months (0.1% for other dwellings), with Melbourne the biggest beneficiary with a 1.9% gain in house prices to $550,000.
However, the Australian weighted average median house price of $522,696 was 3.2% lower compared to the December quarter 2010.
Over the year, median prices declined for both types of dwellings. Compared to the same quarter of 2010, the median house price decreased 3.2%, while the median house price for other dwellings recorded a 1.0% decline.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/reiamarch14.gif"><img src="/images/stories/reiamarch14thumb.gif"></a>
Source: REIA
All other key figures in the January ABS figures indicate momentum has dropped out of the mortgage market.
The value of new home loans in January fell by a seasonally adjusted 2.3% following rises of 3.8% in December and a 2.1% rise in November helped by the two RBA rate cuts.
Loans for investment housing fell 7.1% after rising strongly by 7.5% in December and by 1.8% in November.
Loans to owner-occupiers were stagnant in January, following a rise or 2.3% in December and a 1.4% gain in November.
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Talk of housing market recovery premature: AMP’s Shane Oliver

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So how do you follow-up on last week’s tsunami?  <a href="https://www.propertyobserver.com.au/queensland/wait-a-minute-kochie-there-are-bright-spots-for-property-investment-on-the-gold-and-sunshine-coasts/2012030653715" target="_blank">“Wait a minute, Kochie, there are bright spots for property investment on the Gold and Sunshine coasts”</a> not only was our most popular post, it got national media coverage.
It goes to show that many are sick and tired of the negativity, don’t want to be continually told how bad things might get and crave some balance in media (and other) reporting.  Glib one-liners make easy punchlines, but most things are hard to accurately sum up in 12 words or fewer.
What most do after a good game is have a day of rest, a B-day, so to speak.  I try to have a B-day every month or so.  This is a day when you don’t do anything with an immediate deadline, try to improve on some things that need adjustment, or try something new. Heck, sometimes I just read the articles that I have been carrying around with me for the past month or so.  And if it is a really good B-day, I get time to update my Home News.
Home News is a collection of weird stuff that my youngest daughter, Savannah, and I cut out from the media. It has been going on for years and we now are up to our sixth scrapbook. We are probably breaking several laws, but this all started after I read how Tom Waits does something similar.  Like Tom, I do find it more interesting to read my own news collection rather than the day-to-day drivel.  Also, paraphernalia comes in handy at parties, or for those awkward pauses in conversation, and sometimes even during presentations.
So, here is a sample of some Home News, Matusik style.  Try to enjoy, and please suffer my remarks in italics.
<ul>
<li>An increasing number of cashed-up Australians are buying fake grass because they don’t have time to mow the lawn on the weekend.  Tell me about it.  And why do they need to be cashed-up?  And did you know that Aussies will pay up to $75,000 more for house with a nice lawn? But I don’t think fake stuff really cuts it.  Pun intended.
</li>
<li>Last year, 1.93 million people in Australia’s workforce were aged 55 or over, up from a million a decade ago.  Now Canadian Leonard Cohen describing himself as a “lazy bastard living in a suit” on his new album, Old Ideas, does kinda ring true – he is fond of wearing a suit, but lazy seems a bit harsh.  He is 77 and there is no sign of slowing down, having spent almost three years on tour. Old Ideas has won widespread acclaim, and he says he has enough material for another album.  Ditto Dylan, McCartney and even Springsteen, whose Wrecking Ball has the energy of someone in his 20s, not 60s.  Watch out, youngsters, us oldies are back.
</li>
<li>About 75% of people admitted to surfing the web, using smartphone apps, emailing and texting while on the toilet.  One in five men said they had taken a conference call while on the loo.  Now this behaviour used to be confined to real estate agents.  Who said agents aren’t trend setters?  Do you also know that 9 million (40%) Australians use social networking sites such as Facebook, You Tube and Twitter?  And obviously, many do so while in the smallest room of the house.
</li>
<li>A third of Australians are unaware of how much super they have.  One in eight never check their super balances.  Little I can say here, except that for some reason, many treat their super funds like they aren’t really theirs. It is much easier, in our experience, for an investor to pay money out of a super fund to buy a property, rather than out of current accounts.  Curious indeed.
</li>
<li>Some wit to close… and most will be able to tell it is too good to be mine.  Apart from being nice to their mother, the best advice you can give your children is to live in a marginal seat.  Touché
</li>
<li>Two-thirds of women would choose a good night’s sleep over sex. Whatever I add here will get me in some deep shite.
</li>
<li>Aussie high school and university students are now outsourcing their English essays and maths papers to firms in India, Pakistan and Egypt, for as little as $2.  Well, this speaks volumes.
</li>
<li>In addition to making you groggy and dazed, jet lag makes you stupid too.  Hmmm, stupider maybe more apt.
</li>
</ul>
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>. The Matusik Missive is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.
 
 
 
 
 
 
 
<ul></ul>
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michaelmatusik-49YzLvdmNv

A check in on the home news, for a day of rest

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The market capitalisation of <country-region><place>Australia</place></country-region>’s listed A-REIT sector is $75 billion and comprises 54 companies. Of these, 20 are included in the A-REIT 300 Index. The total market capitalisation of these 20 A-REITs is $65 billion, or 86% of the total. 
The A-REIT sector is further comprised of four sub-sectors. The diversified sub-sector contains A-REITs such as GPT, Stockland and Mirvac. These funds comprise assets that include any combination of retail, office and industrial and may also have significant exposure to other asset classes such as residential development or retirement. The retail sub-sector is dominated by the two <city><place>Westfield</place></city> entities, Westfield Group and Westfield Retail Trust, which together comprise 83% of the retail sub-sector and 39% of the broader Index. The office and industrial sub-sectors each comprise 8% of the Index, as shown in chart 1.
<img src="/images/stories/wistfeb281.png" width="470">
 The office sub-sector outperformed on a total return basis in 2011, as shown in chart 2. While all office A-REITs provided positive total returns, Charter Hall Office REIT was the strongest performer driven largely by the expectation of privatisation. The 2011 retail sub-sector total return was driven by Westfield Group’s underperformance as American consumers slowed spending and muted rental growth prospects in its domestic portfolio weighed heavily.
<img src="/images/stories/wistfeb282.png" width="470">
The prognosis for A-REITs in 2012 is positive. Partial closure of a persistent and material gap between price and underlying asset values will provide positive returns. Diversified A-REITs with portfolios aligned to the residential markets are expected to provide positive returns commensurate with the ongoing supply shortfall and the anticipated modest recovery in housing markets later in 2012. Net office space absorption in a market without excess vacant space is expected to provide positive growth among the office A-REITs.
<table border="0" cellspacing="0" cellpadding="0" width="413"><tbody>
<tr>
<td width="81" nowrap valign="bottom">
 
</td>
<td width="216" nowrap colspan="3" valign="bottom">
Total Returns - A-REITS 2011
</td>
<td width="52" nowrap valign="bottom">
 
</td>
<td width="65" nowrap valign="bottom">
 
</td>
</tr>
<tr>
<td width="81" nowrap valign="bottom">
 
</td>
<td width="94" nowrap valign="bottom">
A-REIT Index
</td>
<td width="79" nowrap valign="bottom">
Diversified
</td>
<td width="42" nowrap valign="bottom">
Retail
</td>
<td width="52" nowrap valign="bottom">
Office
</td>
<td width="65" nowrap valign="bottom">
Industrial
</td>
</tr>
<tr>
<td width="81" nowrap valign="bottom">
Sub-sector
</td>
<td width="94" nowrap valign="bottom">
-7%
</td>
<td width="79" nowrap valign="bottom">
2%
</td>
<td width="42" nowrap valign="bottom">
-9%
</td>
<td width="52" nowrap valign="bottom">
22%
</td>
<td width="65" nowrap valign="bottom">
-5%
</td>
</tr>
</tbody></table>
 
Retail A-REIT performance will be dominated by the Westfield entities. Retail turnover growth is muted. Rental growth in <country-region><place>Australia</place></country-region> will be negatively impacted but will remain positive as a consequence of the quality of the underlying portfolios. Westfield Group will continue to recycle capital and redevelop assets to support security price growth.
Industrial A-REIT performance will be determined by Goodman Group, with positive prospects despite its exposure to European development activities.
 Mark Wist is senior asset consultant at <a href="https://www.atchison.com.au/" title="Atchison Consultants" target="_blank">Atchison Consultants</a>.
 
 
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markwist-Vaq6S8Xoby

Office A-REITs outperformed all other sectors in 2011 

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Rosslea has the fastest-selling houses in Queensland, with houses taking an average of just 27 days to sell, according to RP Data. It just edged ahead of Mornington and Pallarenda. Property Observer notes there were just 12 sales over the last year in Rosslea.
<table width="331" cellpadding="0" cellspacing="0" border="0"><tbody>
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<td width="91">
Locality
</td>
<td width="240">
Average number of days on market
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Rosslea</a>
</td>
<td width="240">
27
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Mornington</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Pallarenda</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Millmerran</a>
</td>
<td width="240">
31
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Sun Valley</a>
</td>
<td width="240">
41
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">The Gap</a>
</td>
<td width="240">
42
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Basin Pocket</a>
</td>
<td width="240">
45
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Dysart</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">North Booval</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Spring Hill</a>
</td>
<td width="240">
46
</td>
</tr>
</tbody></table>
 
Source: RP Data
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awalsh-7Ub9EypybQ

Rosslea leads fastest-selling localities in Queensland: RP Data

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<img src="/images/stories/480.gif">
The median asking rent for units in Sydney in January 2012, according to Residex. This is up 6.7% on the same time last year.
 
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<img src="/images/stories/450.gif">
The median asking rent for units in ACT in January 2012, according to Residex. This is up 4.7% on the same time last year.
 
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<img src="/images/stories/425.jpg">
The median asking rent for units in ACT in January 2012, according to Residex. This is down 1.2% on the same time last year.
 
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<img src="/images/stories/385.gif">
The median asking rent for units in Perth in January 2012, according to Residex. This is up 6.9% on the same time last year.
 
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<img src="/images/stories/375.gif">
 
The median asking rent for units in Melbourne in January 2012, according to Residex. This is up 7.1% on the same time last year.
 
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<img src="/images/stories/365.gif">  
The median asking rent for units in Brisbane in January 2012, according to Residex. This is up 1.4% on the same time last year.
 
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<img src="/images/stories/290.gif">
The median asking rent for units in Adelaide in January 2012, according to Residex. This is up 1.8% on the same time last year.
 
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<img src="/images/stories/275.gif">
The median asking rent for houses in Hobart in January 2012, according to Residex. This is exactly the same as the same time last year.
Photograph of Mosman block by Brian Yap, courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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cknowlton-QnEa6ntUYP

Capital city unit rents: A state-by-state analysis: Residex

Perth seventh most expensive CBD office market in the world, Sydney falls to 10th: Knight Frank

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The number of owner-occupier mortgage commitments fell 6.3% in NSW in January following a 7.6% rise in December, according to the latest seasonally adjusted ABS figures.
The drop in NSW was the result, in part, of  the end of the rush in mortgage commitments in December as first home buyer beat stamp duty concessions on established properties that ended on December 31.
Nationally, mortgage commitments fell 1.2% to 47,768 following a downwardly revised figure of 48,370 in December, breaking a run of six straight rises between July and December. Excluding no growth in June, owner owner occupier mortgage commitments had increased for 10 straight months going back to March 2011.
Loans were expected to have risen by 2% in the month, according to CommSec analysts.
Commenting on the January housing finance figures as well as the NAB business confidence index, which fell from +4.0 to a five month low of +0.9 in February, CommSec chief economist Craig James says they suggest the economy is "largely running on the spot with new home loans going backwards and businesses lacking the confidence to ramp up activity".
"Higher bank interest rates in February probably restrained business confidence. It is also disappointing that the two rate cuts by the Reserve Bank have not provided much in the way of a lift for the housing market.
"Home prices are stagnant, so the average home loan is also not budging. Eventually the combination of a low jobless rate, flat home prices, tight rental markets and stable interest rates will lead to a wave of new home buyers. Builders will hope this happens sooner, not later," James says.
In value terms owner-occupier mortgages commitments were flat at $14.15 billion.
Among the major housing markets, Western Australian was the strongest, with a 3.8% increase in owner-occupier mortgage commitments in January, followed by South Australia (up 1.3%) and Victoria (0.9%), with Queensland mortgage growth flat.
The struggling Tasmanian market received a boost with a 3.2% rise in owner-occupier mortgage commitments.
In total the number of loans for the purchase of established dwellings fell 1.2% to 40,825.
The total value of mortgage commitments excluding alterations and additions fell 2.3% to $20.7 billion on a seasonally adjusted basis, according to the latest ABS figures.
Fixed loans for investment purposes fell 7.1% to $6.58 billion.
New home lending remained flat with the number of loans for the purchase of new dwellings down 6% to 1,953 while the number of construction loans up just 0.2% to 4,990.
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NSW leads drop in mortgage lending in January: ABS

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Today I am going to dive into the latest affordability and daily house price data.
According to Rismark International analysis, <country-region><place>Australia</place></country-region>’s “all regions” dwelling price-to-disposable household income ratio stabilised at four times in the final quarter of 2011. This represents a 12% fall from the ratio’s post-GFC peak of 4.6 times in June 2010.
The December dwelling price-to-income ratio of four times is the lowest the benchmark has been since June 2003, and is yet another indication of the substantial improvement in housing affordability that materialised over 2011 (see chart).
Click to enlarge
<a href="/images/stories/joyemarch131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch131thumb.gif"></a>
Beyond the favourable conjunction of rising incomes and declining house prices, affordability has been boosted by the RBA’s bold decision to cut its cash rate twice in November and December 2011.
While banks subsequently clawed back circa 10 basis points of this interest rate relief in February, housing conditions nevertheless appear to be stabilising. This has been evidenced in better home loan approval volumes, with <place><country-region>Australia</country-region></place>’s largest mortgage broker, AFG, reporting its biggest February month on record.
There have also been some tentative signs of solidity in the new daily house price index data published by RP Data-Rismark in concert with the ASX. Following a fall in prices during the seasonally soft month of January, home values have staged a rebound in February and March (see chart).
Click to enlarge
<a href="/images/stories/joyemarch132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch132thumb.gif"></a>
In 2011 the median Australian dwelling price fell by 4.8% from $420,000 to $400,000, based on Rismark’s analysis of <country-region><place>Australia</place></country-region>’s largest database of home sales. In contrast, disposable incomes on a per household basis advanced by 5.3%.
In order to calculate total disposable income on a per household basis (i.e., accounting for multiple income earners per household as opposed to simply average earnings per individual), Rismark takes the ABS National Accounts’ aggregated estimate of disposable household income and divides by the number of households each quarter.
To compare like with like, Rismark produces a “trimmed mean”, or “average” dwelling price in addition to its standard median dwelling price (the household income estimates are quarterly averages rather than medians).
There are some non-cash line items in the National Accounts computations of disposable household incomes that may not be relevant to purchasing power. One of the principal non-cash variables is “imputed owner-occupied rents”. Stripping these out as best it can, Rismark’s research implies that the dwelling price-to-income ratio has fallen from a peak of 5.2 times to 4.5 times today (see final chart below).
Click to enlarge
<a href="/images/stories/joyemarch133.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch133thumb.gif"></a>
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
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