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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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20/21 Sutherland Street, Cremorne, NSW, 2090
<img style="border-style: initial; border-color: initial;" src="/images/stories/sutherland.jpg"> 
In The Links building in Cremorne, this two-bedroom unit is currently leased until November 2012 at $500 per week. Listing agent Fran Turner of Croll Real Estate says the tenants have been in place for 12 years and are playing significantly below market rent. She says a rental analysis of the property indicates it could be rented out for between $650 and $680 per week. It features views over Willoughby Bay and the surrounding district, laundry and 103 square metres of living space.
The property was passed in on a vendor bid of $680,000 at its weekend auction, and <a href="https://www.croll.com.au/dbpage.php?pg=view&amp;dbase=listings&amp;id=787115" target="_blank">it is now for sale for $705,000</a>. There was one registered bidder, and no bids at the auction. Before auction Turner was marketing the property with price hopes of $730,000 plus.  If it sells for $705,000, its current rent would secure an investor a gross rental yield of 3.7%, below the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. A rental of $680 per week would equate to a gross rental yield of 5%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Levies are $1,340 per quarter, council rates are $187 per quarter and water rates are $142 per quarter.
The median unit price for Cremorne rose by 5.6% in the past year, according to RP Data.
For more about prices and yields in Cremorne, see the RP Data suburb page.
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Investor form guide wrap: Gross rental yield of up to 5% in Cremorne 

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A recent report by the Australian government, State of Australian Cities 2011, identifies the problems being faced by federal and state governments and also councils, where they now need to completely rethink their long-term masterplans. Australia’s population has grown by 3 million in the past decade, yet productivity growth has slowed and then declined since 1998.
Working in Sydney’s CBD was a must 20 years ago, however today councils need to rezone (suitable) areas into medium commercial zones. If you bring the businesses to the area all the other businesses feed off this nine-to-five injection of people. We are already seeing today a huge closure rate of small businesses – retail, thanks to the internet, is dying on the vine. Councils need to place businesses and people above these retail outlets to inject new life to what are becoming retail ghost suburbs.
North Sydney Council has been most proactive, as over the past 10 years North Sydney has been vibrant by day yet dormant at night. To counteract this approximately half a dozen new apartment developments have recently been approved. As a result North Sydney will flourish as it is blending commercial developments with the latest state-of-the-art high- and medium-residential buildings.
On Sydney’s lower north shore the buzz suburb is definitely Neutral Bay, where it is busy by day and even busier at night. The suburb is in harmony with commercial buildings and residential apartment developments. I would think that it would be one of the few suburbs in Australia that boasts two Woolworths stores and a Coles store. On the other hand Mosman does not have a Woolworths or a Coles store.  Some may argue that this is a good thing, although I would argue that there is anecdotal evidence that these stores strengthen the surrounding businesses, as they put “backsides on seats”.
Mosman Council recently announced the Spit Junction masterplan – Spit Junction is Mosman’s primary business centre located around the intersection of busy Spit and Military roads. The Spit Junction  masterplan is an opportunity to revitalise Spit Junction and make it more amenable to the community. The project involves the:
<ul>
<li>Preparation of a masterplan for Spit Junction; and </li>
<li>Feasibility study for the Mosman Civic Centre sites.</li>
</ul>
I would personally like to see all the properties along Spit Road rezoned to accommodate medium commercial with ground floor retail and restaurant outlets to cater for the nine-to-five workers and at night the local residents would enjoy this new lifestyle experience. Another point is that such developments would allow businesses to relocate back to the suburb, which is exactly where they should be headed. Traffic congestion keeps getting worse and fuel costs keep rising with workers spending less time at home due to traffic congestion.
Over the next 20 years or so we can expect to see councils working to embrace our lifestyle changes where they will seek to balance their communities with a successful blending of all these components. If they don’t their retail strips will look like nothing more than pop-up temporary retail outlets.
With the Spit Junction masterplan Mosman Council design a mix of commercial, residential and retail that blends together with consistent design and planning controls.
It does not matter which suburb you reside in – what may have been the go 20 or 30 years ago is not the way society is headed in the 21st century.
I’ve been fortunate enough to work in the suburbs for over twenty five years, and I could never again return the Sydney CBD. With councils now looking at accommodating the nine-to-five markets, they are actually revitalising their communities.
There is a strong possibility that once you could live in a community but could not work in it – times are changing, and for all the right reasons.
Keeping up with the times has always been the challenge.
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Councils must encourage a mix of commercial and residential to keep suburbs vibrant

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Chateau de Benelong, the distinctive Bellevue Hill palazzo residence, has been sold.
Its revised $5 million hopes for last week’s auction were realised with a $4,995,000 sale through Michael Finger and Gavin Rubinstein at Ray White Double Bay.
With its multiple arches, columns, balustrades and detailed decorative exterior adornments including cherubs, lions' heads and a central courtyard fountain, the nine-bedroom house has stood out from the crowd since 1977, when it was built by designer Lesley Santy.
Santy, who won a gold medal in the 1957 international furniture exhibition in Milan, designed the building for the Levy family.
The Benelong Crescent property had been renovated since last traded for $3.67 million in 2009.
The neo-classical house comes with northerly harbour views from its grand columned terraces. Its luxury living spaces include a poolside entertainer's pavilion, home theatre and gym. It comes with eight bedrooms, including a two-bedroom apartment.
The vendors are Elio and Makedonka Del Ben, who own a building company called Big Dig Pty Ltd. <a href="https://www.propertyobserver.com.au/new-south-wales/columned-chateau-with-21st-century-interiors-at-bellevue-hill/2011080951100" target="_blank">It was initially listed</a> with unrealistic $7.5 million hopes last August through Di Jones Real Estate.
 
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Bellevue Hill palazzo Chateau de Benelong sells for about $5 million

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Predictions by credit rating agency Standard &amp; Poor’s that Australian house prices could fall 20% this year if Chinese growth stalls to 5% have been rubbished by Fairfax financial commentator Michael Pascoe.
S&amp;P says there is a <a target="_blank" href="/news">one in 10 chance of the Chinese economy suffering a hard landing</a> (growth of 5% or less), which would result in unemployment doubling to 11.3% in Australia and trigger a sharp decline in Australian house prices of 20% or more.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/sandpmarch12.gif"><img src="/images/stories/sandpmarch12thumb.gif"></a>
Pascoe says S&amp;P's form with “crystal ball gazing” has been “less than sparkling”.
“The firm has major credibility problems for its role in helping facilitate the global financial crisis by giving absolute top-notch AAA credit ratings to toxic junk.
“It does not differ from its peers in having capital-F fails on its scorecard for any number of credit rating disasters. It is easy to form the opinion it might now be trying a little hard to make up for lost trillions by sounding dire about anything and everything,” says Pascoe.
Even if China’s economy falls 5%, Pascoe says the flow-on effect of an Australian recession is by no means a sure thing, given “all the fiscal and monetary ammunition we have in store”.
“And the evidence is that we still wouldn't suffer a 20% plunge in house prices. In our last real recession, house prices didn't fall despite high unemployment and the tear-inducing interest rates that precipitated it,” he says.
Lastly, Pascoe argues that Chinese growth settling in at 8% “is both desirable and inevitable”. 
“It is what has to happen when you are the world's second-largest economy. If you really want to scare the horses, you could highlight the joint report by the World Bank and China's Development Research Centre that very credibly forecasts China's GDP growth slowing to 7% in the second half of this decade and 5% in the second half of the next. 
“That would be a good outcome that represents a massive increase in wealth and consumption, not to mention ongoing demand for natural resources, albeit with a lower steel intensity. Someone should tell S&amp;P,” he says. 
In its China Australia Housing report S&amp;P says there is a 25% chance of a “medium landing” for the Chinese economy – growth of 7%.
In this scenario, Australian GDP would be just 1.5%, inflation 1.3%, unemployment would rise to 7.2%, house price could fall by more than 10% and interest rates would drop between 2% and 2.5%. 
In S&amp;P’s most likely scenario – a “soft landing” of 8% growth – housing is forecast to decline by more than 5% (in line with other forecasts), Australian GDP would be 3.3%, inflation 2.6%, unemployment would be at  5.2%  and interest rates would be between 3.5% and 4.1%. 
Last year the Chinese economy grew by 9.2%.
 
 
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S&P warning of Australian housing market collapse lacks credibility: Michael Pascoe

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There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
In round three this week Brisbane properties fared considerably better than they did in the previous rounds, with four of the five selling at or just after auction. In Melbourne and Sydney, all five properties featured in the competition sold at or just after auction.
The unit at 5/12 Howard Street, Richmond, featured on Property Observer, attracted considerable interest from first-home buyers at its weekend, auction, according to Mark Armstrong from Property Tycoon.
"First-home buyers were out in force at the auction of Howard Street in Richmond when two bidders battled head on for the right to negotiate with the vendor," Armstrong says. "The property was passed in for $515,000 and sold shortly afterwards for $525,000."
However, he says the result, while strong, was not stellar for the vendor.


"Although the result earned its owner 100 grand since it last sold in 2007 for $422,000, it lagged behind the wider market over the same period. An annual compound growth rate of 4.5% was well below that the 7.42% growth in the median value of apartments over the same time frame," Armstrong says. 
The price for the Sydney property featured on Property Observer, 22 Devonshire Street, Crows Nest, was not disclosed, but Armstrong says it sold under the hammer for more than $1.1 million. 
And the Brisbane property featured on Property Observer, 83 Agnes Street, Auchenflower, attracted considerable buyer interest and sold under the hammer.
"It was a big auction with eight registered bidders and a crowd of 80 looked on as it sold under the hammer for $757,500," Armstrong says. "The average tip was almost spot on, coming in at $754,454."

 
 
 
 
 
 
 
 
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Strong weekend for auction tippers, with 14 of 15 properties in competition sold at or after auction

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Four-fifths of the Eclipse Tower, the tallest office building in Parramatta, has now been leased as construction of the 19-storey structure reached its highest point. 
Joint developers Leighton Properties and Grosvenor Fund Management Australia have secured pre-commitments from Deloitte, QBE Insurance and Landcom. 
The 88-metre tower being built at 60 Station Street in the Parramatta CBD by Leighton subsidiary John Holland at a cost of $170 million is the only A-grade commercial building in Parramatta. 
Due for completion in August 2012, the building is registered for a green star office design v2 rating and is targeting a five-star green star rating and a five-star NABERS energy rating. 
According to the most recent Property Council of Australia office report, Parramatta has a vacancy rate of around 9%, below that of some fringe Sydney CBD market including Chatswood and Crows Nest/St Leonards.
In addition only 25,000 square metres of new office space is scheduled to be built in Parramatta over the next two years – growth of 3.7%.
<img src="/images/stories/eclipse.jpg">
The topping-out ceremony was attended by New South Wales premier and minister for western Sydney Barry O'Farrell.
"Parramatta is the geographic heart of Sydney. It’s wonderful people will have the opportunity to work where they live. The development has provided hundreds of jobs and long may it continue to do so into the future," he said.
"We have a strong commitment to the commercial evolution of the Parramatta CBD, and thanks to the building's proximity to key transport links, entertainment and recreation hubs, it will also provide an enhanced work and life balance for workers,” said Mark Gray, managing director of Leighton Properties. 
The Eclipse Tower is Leighton’s third commercial building in Parramatta. 
"Office rental rates in Parramatta are approximately half of the price of comparable quality stock in the Sydney CBD. However, for many companies it's no longer just about finding a competitive rental deal and cutting occupancy costs by relocating or growing their operations in Parramatta, said Anthony Lombardo, head of office development at Grosvenor Fund Management Australia. 
"It's also about having a genuine strategic need to be located in close proximity to Western Sydney in order to capitalise on emerging growth opportunities in this exciting and dynamic region," he added. 
Eclipse Tower was designed by Fitzpatrick and Partners, which won Parramatta's first design competition under the Parramatta City Council's new city centre plan.
 
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Parramatta’s tallest tower, Eclipse, 80% leased as construction nearing completion

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The total land value of Boorowa region in NSW decreased 3.5% from 2008 to 2011, according to NSW Valuer-General Philip Western.
The combined value of the 1,957 properties in Boorowa dropped to $403 million in July 2011, down from $417 million in 2008.
Western found residential land generally had a slight increase in value, bolstered by increased interest from Canberra over the three years.
Commercial land values had a generally moderate increase in value, including smaller lots along Marsden Street.
Rural land values experienced a slight decrease, with mixed farming properties generally suffering a bigger fall.
Hobby farms had an overall slight decrease in land values, while the more remote areas of Taylors Flat, Reids Flat and Wyangala had a moderate decrease.
Year-on-year median rural land prices in Boorowa decreased 3.5% from $148,000 between 2010 and 2011.
Village land value in Boorowa increased slightly over the three years.
Landowners and rate-paying lessees received a notice of valuation this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>1,155 square metres at Campbell Street, Boorowa valued at $46,200</li>
<li>2,023 square metres at Marsden Street, Boorowa valued at $43,700 </li>
<li>1,024 square metres at Marsden Street, Boorowa valued at $27,500 </li>
<li>835 square metres at Pudman Street, Boorowa valued at $50,600</li>
</ul>
Typical commercial land values were:
<ul>
<li>866 square metres at Marsden Street, Boorowa valued at $15,700 </li>
<li>980 square metres at Pudman Street, Boorowa valued at $35,600 </li>
<li>1,024 square metres at Marsden Street, Boorowa valued at $27,500</li>
</ul>
Typical rural land values were:
<ul>
<li>404 hectares at Riverside Road, Mount Collins valued at $770,000 </li>
<li>457 hectares at Battery Road, Mount Collins valued at $525,000 </li>
<li>498 hectares at Kenyu Road, Boorowa valued at $502,000 </li>
<li>262 hectares at Rugby Road, Boorowa valued at $666,000 </li>
<li>291 hectares at Frogmore Road, Wyangala valued at $450,000 </li>
<li>204 hectares at Rye Park Road, Rye Park valued at $525,000 </li>
<li>362 hectares at Little Plains Road, Rye Park valued at $410,000 </li>
<li>319 hectares at Rossi Road, Godfreys Creek valued at $670,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>8.1 hectares at Boorowa valued at $102,000 </li>
<li>5,786 square metres at Parnell Street, Boorowa valued at $63,000</li>
</ul>
Typical hobby farm land values were:
<ul>
<li>36.3 hectares at Ironbark Lane, Frogmore valued at $75,000 </li>
<li>58.2 hectares at Grassy Creek Road, Rye Park valued at $120,000 </li>
<li>41 hectares at Old Wheeo Road, Taylors Flat valued at $99,900 </li>
<li>56.7 hectares at Rye Park valued at $114,000 </li>
<li>42.9 hectares at Frogmore Road, Hovells Creek valued at $99,800</li>
</ul>
Typical village land values were:
<ul>
<li>2,023 square matres at Britannia Street, Reids Flat valued at $7,300</li>
<li>3,884 square metres at Kershaw Street, Rye Park values at $24,200</li>
</ul>
 
 
<ul></ul>
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Land values fell 3.5% in NSW region of Boorowa in past three years: Valuer- General

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Australian Property Monitors (APM) has released a list of results from 300 auctions in Sydney for the weekend of March 10. The clearance rate was 56%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
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APM's 300 Sydney auction results showing a clearance rate of 56%

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The number of property transactions in 2011 was the lowest number of calendar year sales since 1996.
The annual volume of sales across the nation was 25% lower than it has been on average over each of the last 10 years, highlighting just how challenging market conditions have been for the industry, according to RP Data.
The 2008 calendar year was the most recent weakest year for the housing market, with capital city home values falling by 1% and 416,859 home sales over the year.
In comparison, capital city home values fell by 3.8% in 2011, however there were 373,394 home sales during the year, 10.4% fewer than in 2008.
In 2011, sales of homes in the capital city markets accounted for 64% of all sales over the year, which is broadly in line with the proportion of the population that lives within the capital cities.
Across the nation, the number of home sales has been trending lower since September 2009, according to RP Data.
Not so coincidentally, September 2009 was also the last month at which the Reserve Bank held its official cash rate at historically low levels following the economic turmoil in 2008 and was also the last month in which the boost to the first-home owner’s grant was available in full.
The slowdown in transaction activity throughout 2011 is in line with the 3.3% annual drop in housing finance commitment volumes for new loans (not including refinances).
Focusing on sales of houses as opposed to units shows that across the country, 71% of all home sales were for detached houses.
Click to enlarge
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In the capital city markets the figures were a little lower, with house sales accounting for 67% of all sales over 2011.
During the past 12 months and over the last five years units have enjoyed a stronger capital gain performance than houses.
We would expect that this trend is likely to continue as potential buyers enjoy the locational benefits often associated with units and the fact that they are typically much more affordable than detached houses.
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Across individual capital city markets the change in sales activity over 2011 has been quite varied. Like property values throughout 2011, sales volumes also fell across each capital city over the year, with declines ranging from 3% in Darwin to a decline of 17.5% in Hobart.
Across each capital city sales activity in 2011 was also below the 10-year average annual volume of sales.
Again there was quite a range, with sales activity in Sydney just 11.6% below the 10-year average and in Brisbane annual sales volumes were 36.9% below average.
Interestingly, across most capital cities, 2011 had the lowest volume of sales over the year of any year of the past decade, however, this wasn’t the case in Sydney and Perth. Sydney recorded fewer sales in 2004, 2005 and 2008 than it did last year and Perth had fewer sales in 2008 than it did last year.
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Clearly 2011 was a very weak year for housing transactions.
The higher interest rate environment throughout much of the year and the general conservative nature of consumers were likely to be the biggest influences on such a low volume of sales.
We are anticipating transaction volumes will pick up over 2012 due to slightly more favourable conditions.
Interest rates have already been cut by 50 basis points, and we saw that the first of these consecutive 25 basis point cuts encouraged a greater level of sales activity in November 2011.
Many economists anticipate that the RBA will cut rates further in 2012 which is likely to improve market sentiment further.
Capital city rental rates rose by 5.8% over the 2011 calendar year while capital city home values fell by 3.8%. Although we aren’t anticipating any real growth in home values this year, we expect that rental rates will lift again in 2012 across most cities.
Ongoing increases in rental rates accompanied by a lower interest rate environment is likely to encourage some renters to purchase their own home.
Even though we expect that sales volumes will improve in 2012, it must be kept in mind that any improvement will be relative to the weakest year for sales activity since 1996.
Cameron Kusher is senior research analyst at RP Data.
 
 
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Home sales volumes at lowest levels since 1996: RP Data's Cameron Kusher

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Caveat emptor, or let the buyer beware, is based on the 12th-century premise that a purchaser can view and handle goods offered for sale in marketplaces (such as meat or fresh bread) and make their own choice as to whether to buy them or not.
This principle still holds true today, whether in buying property or a tin of baked beans in your local supermarket. And the assumption remains that the consumer has an obligation to be satisfied about the quality of the purchase.
But buying a property is not the same thing as buying bread in a marketplace in the mediaeval era, or for that matter anything else you buy in your local supermarket today. Times have changed, and the onus of responsibility for a purchase has theoretically shifted from the buyer to the seller.
In real estate transactions nowadays a seller’s duty of disclosure is limited to disclosing latent defects in title, or issues directly related to the property. An example of latent defects or issues might be with neighbours.
Sellers are currently not obliged to disclose structural damage, planning issues or nonmaterial issues. They should declare events that occurred in or on the property (known as stigmatisation), <a target="_blank" href="https://www.propertyobserver.com.au/residential/murder-and-mayhem-what-an-agent-should-disclose-if-a-property-has-an-unsavoury-past/2012021953438">such as a murder or suicide</a>.
Either way, declaration or not can have an effect on the marketability of a property and can impact on the selling price.
Should legislation on this issue be brought up to date? What do you think?
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a href="https://www.primepropertybuyer.com/" target="_blank">Prime Property Buyer</a>.
 
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