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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
<a href="https://www.propertyobserver.com.au/landlords/the-importance-of-good-tenant-selection/2012030453664">Recently I'd been observing the challenges of tenant selection</a> and the difficulty of finding rental accommodation in a market with low supply volumes. This prompted one reader to ask some questions around the idea of living in a home and investing elsewhere, versus renting or staying at home and buying and investment property. It is indeed a challenge faced by many young Australians looking to get onto the property ladder.
In fact, there are two popular investment trends that are emerging in some of the lower rental supply markets in recent years that have really taken off within the young investor community. Of course we all know of traditional “owner-occupier” approach to investing, as in, you save a deposit for your home, or “principal place of residence” (PPOR), buy and move in for a couple of years and wait until you've built enough equity to then buy an investment property.
But what of alternative options that young investors are doing to help get ahead, and also run from the pressure of a big mortgage repayment, while on comparatively lower (or “career-establishing”, as I like to call them!) salaries?
The notion of being a “renter-investor” came to prominence in recent years; and as someone who is a renter-investor myself, I thought I'd weigh up some of the pros and cons of owner-occupying and then investing, as opposed to renting and investing. Additionally, I started out as an owner-occupier/investor, so I've had experience in both.
Owning your own home and then investing:
Pro: The security of not being asked to leave after six months of tenancy.
Pro: You can personalise the space you live in and greater freedom to decorate as desired.
Con: You cannot claim any of the tax benefits of living in your own home unless...
...Pro: You rent out bedrooms to a boarder, entitling you to apportioned tax deductible expenses (effectively making your own home partially an investment property).
Pro: The advantage of being able to live in the area/suburb/street where you want to be. Renters are often at the mercy of accepting less than their ideal locale.
Con: You are at the mercy of paying the additional costs involved in home ownership (strata for units, council/water rates, house maintenance, repairs, etc) without any of the tax deduction allowances, making owner-occupying very expensive when coupled with mortgage repayments.
 
Investing while renting: 
Pro: Cash flow month to month - it's easily considerably cheaper to split bills and rent rate.
Pro: Probably the biggest one – you free up cashflow to save harder for a deposit on an investment property.
Pro: Many options exist within this: couples moving in together to split costs; friends can flat or house share to split costs; or simply living with parents and paying a little board can keep costs down.
Con: Insecurity of long-term tenancy. Owners can sell/move back in/even demolish the property you're renting.
Con: Costs aren't fixed; leases tend to hike up in rent at the end of one lease and the start of another one.
Con: Depending on whom you're living with, the challenge of personality clashes or inconvenient lifestyle issues with accommodation sharers.
Con: Lack of freedom in personalising your home.
My view on what gets you further ahead? It all depends on your goals. Ask yourself, is owning your own home the real end result you're looking for, or is it simply financial stability? At the end of the day, investment property is all about building wealth for your security, so do you really need to live in the security that you own? Both options will help you work towards achieving your goals – in the end you are still investing, but there's no denying that those who can share the cost of living, even for a couple of years in that tough starting-out phase, can build equity and savings quicker, to get them up the ladder faster.
Cameron McEvoy is a property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
 
 
</body></html>

cmcevoy-Go82SmsJA9

The pros and cons of buying your first property as an investment and continuing to rent

<html><body>
There isn’t a day that goes by that I don’t get an email from someone in a dire situation because of bad financial advice. The lending industry was built to give people opportunity, yet more and more Australians are finding themselves in impossible circumstances because their loans are doing more harm than good.
Recently, I received a letter from a woman named Cathy who found herself in this category. Cathy was being charged $10,000 per month on top of her mortgage for being in default after receiving bad advice from a lender. Now she is facing having to sell three months into a six-month emergency loan, or face foreclosure.
Unfortunately this story isn’t uncommon. After the GFC, more Australians have to resort to short-term, emergency finance at very high rates, usually to retain their house or to keep a business alive. It makes people very vulnerable.
If you find yourself in this position, you must acquaint yourself with all the issues before taking the money, because there isn’t much you can do once you’ve signed.
For a start, all lending is made on the basis of risk and price. If you’re at high risk of defaulting, lenders charge high interest; low risk of default equals a lower interest rate. Generally speaking the lowest rates have the toughest criteria and they are sourced from the institutions you are aware of: the big banks, the regional banks, credit unions and building societies, as well as the independent financial institutions like Yellow Brick Road.
In the post-GFC world, lending criteria has tightened and the riskier style of loans – no-docs, low-docs and “asset-lends” – have largely dried up in mainstream lending.
This has pushed many Australians with patchy employment records and bad credit histories into borrowing from organisations they are unfamiliar with – organisations that might be reputable but that could also be “loan sharks”.
Having accepted that your personal situation means you’ll need to borrow from this high-risk, high-rate end of the market, but it doesn’t mean you have to put up with any terms the lender demands.
For instance, you should never enter a loan without having everything in writing, including all the fees, penalties and establishment charges spelled out.
You should be particularly careful about the penalty interest charges for late payment; it’s these penalties that make some loans extortionate.
You should also avoid lenders with a poor or non-existent reputation. The Australian Securities and Investments Commission (ASIC) has search engines on its website that alert you to complaints against a company or broker, or the site can reveal that there’s no mention of the organisation at all.
A lender with no reputation isn’t always predatory. But if you’ve never heard of them, have a look at their accreditations. If you’re going through a broker, are they a member of the MFAA – the Mortgage and Finance Association of Australia?
Do they subscribe to COSL, the Credit Ombudsmen Service Limited, or another external dispute resolution provider? If you are going direct to a lender, do they have an Australian Financial Services Licence?
Organisations will advertise accreditations on their stationery, so if you see AFSL or ACL on their business cards, they use standard loan agreements.
If the lender has none of these accreditations and seems to be outside the mainstream, I suggest you engage a solicitor to review the documents.
Perhaps the biggest problem of this kind of lending is the borrower himself.
When financial panic sets in and you face losing your house or business, it’s easy to focus so hard on getting the money that you forget it was an emergency facility.
If you have to take short-term money at high interest rates, have a plan for what happens when the term of the loan is up or the financial panic is over.
Does the debt get folded into bank debt? Is it discharged? Do you sell whatever you have financed? Do you settle with the lender?
I have sympathy for people who have to take these high-interest loans. But you can even the odds by looking out for yourself: if someone says “no credit history – no worries”, start worrying.
Do your homework, get advice and have a plan.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
 
 
 
</body></html>

mbouris-tauSvXGAM2

Beware of predatory lenders and do your homework before you sign: Mark Bouris

<html><body>
Click to enlarge
<a rel="shadowbox" href="/images/stories/apmdiscountmarch9.gif" title="Click to enlarge"><img src="/images/stories/apmdiscountmarch9thumb.gif"></a>
Source: APM
"The discounting data is particularly interesting," says Australian Property Monitors research analyst Clinton McNabb.
"It looks as though discounting peak between August and November last year and is gradually dropping again, although the level of discounting is still way above the levels seen two years ago."
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank">clicking here</a>.
 
</body></html>

cknowlton-QnEa6ntUYP

Home sale price discounting peaked mid-2011, with marked shift to less required discounting in Perth and Brisbane: APM

<html><body>
Crown Group is set to release the third stage of its popular Top Ryde project, following the sales success of stages one and two.
The third stage, known as ‘Illuvia”, will be released on Saturday, March 17 and will comprise 135 one-, two- and three-bedroom apartments.
Of the first release of 183 apartments, 171 have been sold, and 71 of the 80 <a href="https://www.propertyobserver.com.au/developments/second-off-the-plan-stage-of-crown-s-top-ryde-project-almost-sold-out/2012020753289" target="_blank">apartments in the second release</a> have now been exchanged.
Illuvia apartments will range from $505,000 and $605,000 for 60 one-bedroom units, which will range in size between 54 and 70 square metres. Some have studies. The 67 two-bedroom units range between $595,000 and $920,000 and are between 73 square metres and 123 square metres. There will be eight three-bedroom apartments, ranging in size from 101 square metres to 177 square metres, and they are priced between $930,000 and $1.6 million for the three-bedroom penthouse.
On completion the $500 million complex will consist of 502 apartments across five towers above a shopping centre in North Ryde, 12 kilometres from Sydney CBD.
Each tower is named for one of the elements – water, wood, light, metal and earth. Illuvia is named for water and is designed with a blue colour palette.
“The Illuvia apartments have been thoughtfully designed with spacious living areas, ample storage and well-appointed bathrooms and kitchens,” says Roy Marcellus, head of major project sales and marketing for Crown.
“Each apartment offers its own unique sleek design including open-plan living areas, which flow out to tiled balconies or courtyards seamlessly blending indoor and outdoor living,” he says.
Crown Group chief executive Iwan Sunito says the Illuvia release is the most prestigious to date and expects the latest release to prove just as popular with buyers as the previous two.
“For buyers looking for the ultimate in convenience when it comes to shopping or transport, a luxurious resort style environment to call home and an off-the-plan apartment where they can take advantage of bonuses such as stamp duty concessions, Top Ryde City Living ticks all the boxes,” Sunito says.
Each tower will have a sky garden, a 25-metre infinity-edged swimming pool, viewing platforms, private meditation areas and a barbecue area.
The privately owned company currently has over $2 billion worth of developments in the pipeline.
 
 
 
 
</body></html>

Crown releases third stage of Top Ryde development with 92% of previous releases sold

<html><body>
The lowest three-year fixed-rate mortgage currently available is 5.94% on offer from the Holiday Coast Credit Union, which primarily services the Holiday Coast and Hunter regions of NSW and has about 32,000 members.
The most recent lender to cut its fixed rates was credit union CUA, which cut the interest rate on its three-year fixed-rate loan on February 13, from 6.34% to 5.95%.
Recent figures put out by mortgage brokers AFG and Mortgage Choice show that about one in five borrowers are taking out a fixed mortgage following major cuts to these products by lenders in 2011.
Here’s a rundown of the cheapest three-year fixed rate offerings on the market at present (available nationally, minimum loan amount $250,000):
5.94%
Three-year fixed rate of Holiday Coast Credit Union
5.95%
Three-year fixed rate of non-bank lender Homestar Finance
5.99%
Three-year fixed rate of Newcastle Permanent Building Society, Heritage Bank, AMP Bank and Bank of Queensland 6.09%
Three-year fixed rate of IMB Building Society
6.14%
Three-year fixed rate of Suncorp
6.19%
Three-year fixed rate of SGE Credit Union, HSBC, Greater Building Society and ING Direct.
6.24%
Three-year fixed rate of NAB, St.George, Bank of Melbourne and BankSA
6.25%
Three-year fixed rate of non-bank lender Myrate
6.33%
Three-year fixed rate of non-bank lender of the Commonwealth Bank.
6.34%
Three-year fixed rate of ANZ
6.39%
Three-year fixed rate of Westpac
6.79%
Three-year fixed rate of BankWest
 
Rates correct as of March 9, 2012
 Here is a list of the most recent standard variable rates of the big lenders.
</body></html>

lschlesinger-FZcF9M3vE6

The lowest three-year fixed-rate mortgages as ANZ lifts to 6.34%

<html><body>
ANZ has left its variable mortgage rate unchanged at 7.36% today following its interest rate decision independent of the RBA.

However, it has lifted its three-year fixed mortgage rate by 20 basis points to 6.34%.

The fixed rate increase will cost new ANZ borrowers who take out the loan an extra $440 a year on the average $300,000 mortgage.

ANZ chief executive Australia Philip Chronican says the bank’s monthly pricing decisions remain “difficult”.  

“We are walking a tightrope between our customers’ interest in keeping rates as low as  possible and the commercial reality that while monthly funding costs go up and down, the upward trend is likely to continue as new funding is still coming on at a wider spread to the cash rate than the funding it is replacing,” he says.

“Given the structural shift that has occurred in the bank funding environment since 2008, including the additional cost of holding higher levels of capital and liquidity, we are working hard to ensure our commercial response helps our customers adjust and ensures we are competitive. 

“Just as we absorbed part of the higher funding cost last month, and while funding pressures still exist, on balance we took the view that stability was important for our variable rate mortgage and small business customers this month."

Suncorp also lifted its fixed rates today raising its two-year fixed home loan rates by 16 basis points today to 6.14%.

Last month, 45 lenders increased mortgage rates independently of the RBA.

Bank of Queensland remains the only lender at time of writing to have lifted variable rates since Tuesday's RBA decision to leave rates on hold in March.
 
</body></html>

ANZ leaves variable rates unchanged but lifts fixed rates by 20 basis points

<html><body>
Houses in East Carnarvon spent an average of just 15 days on the market before being sold. This is less than half as long as the next quickest suburb in WA, Lynwood at 36 days. However, there were only 13 sales in East Carnarvon last year. 
<table width="303" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="141">
Suburb
</td>
<td valign="top" width="162">
No. of days on market
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">East Carnarvon</a>
</td>
<td valign="top" width="162">
15
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Lynwood</a>
</td>
<td valign="top" width="162">
36
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Tuart Hill</a>
</td>
<td valign="top" width="162">
39
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Craigie</a>
</td>
<td valign="top" width="162">
42
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Heathridge</a>
</td>
<td valign="top" width="162">
45
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Beckenham</a>
</td>
<td valign="top" width="162">
47
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Kingsley</a>
</td>
<td valign="top" width="162">
47
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Coolbellup</a>
</td>
<td valign="top" width="162">
49
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Leederville</a>
</td>
<td valign="top" width="162">
49
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Coolgardie</a>
</td>
<td valign="top" width="162">
50
</td>
</tr>
</tbody></table>
Source: RP Data
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by<a target="_blank" href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/"> clicking here</a>.
 
 
 
 
</body></html>

awalsh-7Ub9EypybQ

East Carnarvon heads the top 10 fastest-selling localities in Western Australia: RP Data

<html><body>
AMP Capital Investors is in the process of growing its commercial lending arm following the withdrawal of major lenders and offshore lenders from this arena.
The investment manager has an investment mandate of $190 million from AXA Life following the merger of AXA and AMP in 2010, but it is looking to expand the cash pool to $400 million by bringing other superannuation funds on board.
AMP’s entry into commercial lending follows a growing trend of other non-bank lenders offering commercial loans.
Major lenders have pulled back from commercial finance due to the stricter liquidity requirements under new global Basel II banking rules.
Linda Cunningham, chief manager of commercial lending at AMP Capital, has told the Australian Financial Review that any lending done by the fund will be of a conservative nature, with a strong focus on the “quality of the property”.
AMP will lend at loan-to-value ratios of around 54% with interest rates of 2.5% to 3% – slightly higher than the rates of the big four banks.
The fund will consider lending across all commercial sectors except for residential and land development but will not write any loans that mature past March 2018, when the fund reaches its investment horizon.
To date the fund has provided mortgages at an average size of $10 million, but has the capacity to extend loans of up to $35 million on a single property.
 
 
 
</body></html>

AMP looking to fund more commercial property investments

<html><body>
At the start of this week I said that the RBA’s board meeting would be a non-event, with it likely to hold rates steady in spite of suggestions that “many” board members believe policy should be more accommodative.
I argued that the most valuable information on the future direction of rates would be drawn from the GDP and unemployment data. And so it has transpired.
Had GDP printed strong – at or above consensus expectations – and Thursday’s labour market report followed on from January with a second healthy increase in total employment (together with a flat or lower unemployment rate), we’d be sitting here today thinking that rates were on hold for the foreseeable future.
Only two events could then drive cuts: a surprisingly low first-quarter inflation number that would give the RBA room to reduce rates without jeopardising its inflation target; and/or the major banks independently jacking up  lending rates again to the point where the RBA felt compelled to negate this with another downward shift in its own cash rate.
The major banks have some interesting game theory facing them. It is absolutely indisputable that bank funding costs have plummeted since their extreme December/January spike on the back of the (at the time) burgeoning European crisis. Combine this with the circa 10-basis-point “top-up” the banks unilaterally added to lending rates after the RBA’s February meeting, and one is left to conclude that the banks’ net interest margins should be looking much healthier today.
Yet in the current low credit growth environment the banks can only drive their shareholder returns on equity and profitability through margin expansion and/or cost cutting (i.e., assuming that top-line revenue growth tracks national incomes). And there is little doubt that the banks have done a wonderful job convincing many commentators that they should be able to continue punching out 18% to 19% returns on equity. All power to them for doing so.
I suspect that references made by major bank CEOs to lots of little lending rate changes in the future is really code for incremental steps to further expand margins, which the big four can do given they have both lower funding costs and much better access to funding supply than their competitors.
The claim that it is a “free lunch” for the RBA to offset these changes by simply cutting the cash rate is spurious. The cash rate is currently at 4.25%, and it can only be reduced to 0% under normal circumstances. Accordingly, every time the RBA cuts the cash rate but the banks do not pass this cut fully on to their borrowers, the RBA (and borrowers) are effectively foregoing latent interest rate ammunition, or economic insurance, in order to preserve bank profitability. That is, there is a direct trade-off here between monetary policy flexibility and bank margins.
Now, the banks quite rightly argue that if they cannot profitably lend, then there will be no credit creation period, and we are all screwed. The challenge, then, is to find the right balance between bank returns, the ability of the RBA to manage monetary policy, and, ultimately, borrowing rates.
This brings me back to this week’s GDP and unemployment data. There is no question that the anaemic fourth quarter GDP print, which was well below the RBA and the market’s expectations, and the soggy employment numbers, with the jobless rate edging up, have created more uncertainty about rates and increased the probability of a future cut. The financial markets currently believe that there is a good chance the RBA will reduce rates once by the time its May meeting is concluded.
I would nevertheless venture that the RBA has a pretty sceptical view of the GDP data given the quite extraordinary historical revisions to it. For example, the March quarter was originally reported to be down 1.2%, but has now revised way up to just -0.3%. If the fourth quarter revises as much as the first, any insights based on it are likely to be rendered useless.
If you fuse that scepticism with the fact that: (1) the jobless rate is bobbing around 5.2%, which is close to its “full employment” level; (2) the RBA has already injected a couple of rate cuts (or thereabouts) into the system, which have yet to have their full effect; (3) the worst-case scenarios for the global economy are, unsurprisingly, not going to come close to being realised; and, finally, (4) the presence of more positive “leading-indicator” data on the state of the labour market, such as job vacancies, job advertisements and various business surveys, one exercises the option to wait until the March quarter inflation results are published. This means leaving rates unchanged until the May meeting.
Again, two curve balls here are: (1) what the banks do with their own lending rates, and whether they simply decide to throw caution to the wind and engage in further margin expansion; and (2) what happens to the Aussie dollar. At the time of writing, it is currently sitting at 106.46 US cents, which is up over one cent from yesterday’s lows near 105 US cents flat. The recent appreciation has been fuelled by market hopes that the Greek debt-swap deal will proceed more smoothly than had been anticipated by the bears.
It is not inconceivable that the Aussie surges back towards 110 US cents, and, if it does, the RBA sounds increasingly like it may wish to throw some sand in the wheels of the exchange rate either via direct intervention (i.e., selling), which it has not done since 2008, or by cutting rates, and thus reducing the differential in rates of return between Australian and US yields. The truth is that many sovereign states are manipulating their currencies, and these beggar-thy-neighbour policies could well force the RBA’s hand.
In summary, we are living in a highly uncertain and complex world where the probabilities of different paths can change materially every day. Years ago I argued this would be the case as the Australian economy became more closely tied to its Chinese, Indian and other Asian trading partners. I will repeat now what I said then: your best bet is to try to position yourself to capitalise on this volatility.
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.
 
 
</body></html>

chrisjoye-JYhJsTrNRC

A rate cut is back on the table: Christopher Joye

<html><body>
The disused Pasadena motel at the end of Church Point featuring views over southern Pittwater has been listed for auction on March 28.
Standing opposite Ku-ring-gai National Park at 1858 Church Point, the Peter Stutchbury-designed Pasadena sits on land measuring 632 square metres and was once a thriving motel and function centre popular for weddings and social functions.
The motel has been one of Sydney’s sought-after wedding venues, with wedding parties disembarking via boat or seaplane for their nuptials.
Its prime waterfront position overlooking southern Pittwater offers views towards Scotland Island and Lovett Bay to the north, Bilgola to the east and Bayview to the south east.
The Pasadena is situated within Sydney’s northern beaches, approximately 32 kilometres north of Sydney CBD and four kilometres north west of Mona Vale, overlooking southern Pittwater. 
The hotel is being marketed Matthew Meynell and Henry Burke from Colliers International in conjunction with Jack Elsegood from Domain Residential on behalf of receivers Grant Thornton and is being sold as “vacant possession ready for development”.
Meynell says there has been interest from restaurateurs, developers and conference organiser and expects offers “north of $2 million”. He says it has a number of development applications on it.
According to the Manly Daily, the property’s owners, the Romeo family, attempted to sell the waterfront property in 2010, after years of trying unsuccessfully to redevelop the site.
Burke says the Pasadena has long been the talk of community discussions by Church Point and Scotland Island locals. 
“The residents have long wanted a building of social significance that enriches the local area and fits well with the Pittwater Council’s plan of management for the future development of Church Point,” he says. 
“We are already fielding interest from developers looking to build a landmark waterside property and business operators looking to establish a restaurant or function centre within a highly sought-after waterside location on Sydney’s Pittwater.” 
“The Church Point area is one of the most beautiful areas on the northern beaches and will benefit greatly from a revamped building showcasing the natural beauty of the area,” he says.
It has a previously approved 2005 development application to demolish the existing building and build a “shop top housing development comprised of basement car parking, restaurant, three shops and three residential units”.
The hotel last sold in $3.6 million in 1989 at a time when demand for such properties was booming.
The land is zoned 3 (C) Neighbourhood Business ‘C’ under the Pittwater Local Environment Plan, (LEP) with the council estimating that a new LEP will be drafted within 12 to 18 months. 
The ground floor consists of a disused function area with a commercial kitchen and bar and three retail shops facing Pittwater Road, which are currently vacant. They were previously occupied by the artist-run Gone Fishing Gallery, a real estate agency and storage for the local bottle shop. 
The second level consists of 12 single motel rooms with ensuites. The top floor consists of a laundry room, water heating systems and open-plan roof with a small enclosed sitting room.
 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News