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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Investor demand is strengthening for Melbourne property, according to Monique Sasson Wakelin, director of Wakelin Property Advisory, but she says there will be a great diversity in price performance across the city in 2012.
“In the Melbourne metro region demand will return for period and older-style houses in the inner north in an arch extending from Moonee Ponds to Preston,” Sasson Wakelin says in a <a href="https://wakelin.com.au/blog/view/id:35/title:Recording+of+2012+property+market+outlook+now+available" target="_blank">webinar looking at prospects for 2012</a>.
She also expects increasing demand for well-established apartments in low-rise complexes in Melbourne’s inner south east (suburbs include South Yarra, Toorak, Malvern and Armadale) and inner bayside regions (suburbs include Brighton, Black Rock, Cheltenham and Sandringham).
“These markets have proved resilient, and I expect them to continue to be so,” she says.
According to Sasson Wakelin apartments in these locations are the primary beneficiaries when first-home buyers and investors return to the market.
Also within these apartment markets, she expects demand to remain strong for two-bedroom apartments – a property class that aspirational home buyers choose when they cannot afford to buy a house or for existing home owners who are downsizing.
She says there will also be “excellent opportunities” for investors in one-bedroom apartments priced around $400,000.
“These are properties that fell between 5% and 10% last year due to the withdrawal of first-home buyers last year,” she says.
As to who is likely to buy investment properties in 2012, Wakelin Sasson says buyer interest is likely to be strong from the 50-plus age group, “many of whom are using the self-managed super funds to purchase property”
“These are investors who are transferring their wealth out of a volatile share market into residential property with a view that this is a more stable capital investment,” she says.
She points to an up-lift in recent auction activity, which suggests that the growth in buyer numbers is outstripping the growth in properties listed for sale.
“Melbourne housing is still a compelling long term investment prospect,” she says.
Overall, Wakelin Sasson expects demand to pick up on the back of tight rental vacancies, the relatively stable economy and low unemployment.
“We have a basically sound economy with improved housing affordability but a continued shortage of housing.
“Interest rates are more likely to remain stable than fall over 2012.
“The rate cuts of last year have stabilised the property market and may be sufficient to kick start the upward phase of the property market cycle,” she says.
 
 
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Excellent opportunities for property investors in Melbourne: Monique Sasson Wakelin

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A stoush is brewing between the RBA, which looks set to leave interest rates on hold for some time now, and those who think they should fall. 
Yellow Brick Road’s Mark Bouris is the latest industry figure to call for a reduction in interest rates.
In a series of tweets today Bouris slammed the RBA’s most recent interest rate decision and said the central bank needed to take into account that Australia had a multi-speed economy when determining interest rate settings.
Bouris says the Reserve Bank needs to “scratch beneath the surface” of the economy and not just look at “OK” overall picture when setting interest rates.
At the same time Westpac boss Gail Kelly has warned home borrowers to expect small and more frequent rate changes as banks looked to maintain their profitability in a low growth environment.
Bouris began his twitter rail against the RBA with:
“Looking at the comments re a two-speed economy, this is a multi-speed economy ! At what point will someone make the call to do something??”
He then goes on to tweet:
<ul>
<li>“What's the basis of the RBA decision? They keep rates on hold because everything looks OK but you just need to scratch beneath the surface.”</li>
</ul>
<ul>
<li>“Manufacturing is suffering because of a strong Australian dollar, small businesses, retail, tourism the same. Mining is doing well but at what cost?”</li>
</ul>
<ul>
<li>“Does anyone agree with me or what do you think?</li>
</ul>
<ul>
<li>“Why can't we have policy that addresses all parts rather than the average?”</li>
<li>“Anyone in the tourism industry have anything to say? How are you feeling?  What about manufacturers? Retail shop owners?”</li>
</ul>
In an interview with Australian Financial Review Kelly says borrowers should expect to see “smaller rate moves more often”.
Kelly says recent bank analyst reports show that banks will need to raise their home loan rates by between 0.15% and 0.2% to maintain their profits.
However, research by Nomura has found that mortgage lending remains highly profitable for banks delivering a return of 20% with Westpac’s mortgage lending business the most profitable, with a 23% return on the capital it lends out in the form of mortgages.
According to Nomura, Westpac would earn an extra $122 million by raising mortgage rates by just 0.05%.
Kelly says the decision by ANZ to decouple itself from the RBA and make independent interest rate calls had been helpful for others banks and had probably been more helpful to Westpac than ANZ.
The Bank of Queensland has already lifted its standard variable rate by 10 basis points to 7.46% following the RBA decision to keep rates on hold on Tuesday.
The Commonwealth Bank, National Australia Bank and Westpac have all refused to rule out further independent rate moves this month.
 
 
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Mark Bouris takes aim at RBA as Gail Kelly warns of ‘frequent’ independent bank rate rises

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Home buyers and investors can look forward to lower interest rates over the next decade, according to Macquarie Group senior economist Brian Redican.
“Interest rates should be lower over the next 10 years than they have been over the last 15,” he has told delegates at WBP Property Group’s 2012 Melbourne Property Outlook breakfast today.
A reduction in rates, Redican says, will deliver a significant boost to the Victorian housing market increasing the level of “effective demand”, that is the number of people who are able and willing to buy property.
Redican expects house prices to fall by about 5% in Melbourne during 2012 but says further rate cuts should stabilise the market in 2013.
Redican says interest rates in Australia are currently low compared with what they have been historically in the country, but high relative to other first-world economies such as the US, UK and Canada.
He is critical of the Reserve Bank for not being “pre-emptive” enough when it comes to reducing interest rates and says the RBA is far too focused on mitigating impact of the mining boom, which only employs 10% of the workforce, when setting its interest rates policy.
However, the sectors of the economy that are struggling at present – manufacturing, construction and retailing – employ about 30% of the workforce and will force the RBA’s hand, he says.
“The RBA is a reluctant rate cutter due to the mining boom, but it will be forced to cut interest rates over the next few years,” Redican says.
He presented a series of slides that showed how structurally the economy had shifted during the past two decades – for example unemployment fell 7% from 11% in the early 1990s to 4% just before the GFC, while household debt-to-income ratios increased from 50% to 150% as Australians invested in property and other assets to double their wealth.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/unemployment.gif"><img src="/images/stories/unemploymentthumb.gif"></a>
However, these changes cannot be repeated – for example, unemployment cannot fall another 7%.
He also expects consumer spending – which grew at around 4% annually between 1993 and 2008 – to return to the 2% annual growth trend pre-1993, meaning interest rates do not need to be as high as they are to curtail spending.
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Interest rates will be lower in next decade than in recent past: Macquarie Group's Brian Redican

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More than one-fifth of Australians scrapped plans to buy a home this year following interest rate rises by the big four banks last month and buyer confidence remains low, according to a survey by Real Estate View.
The Appetite to Buy Survey found buyers remain cautious, with just 32% of Australians now looking to buy a home this year, down from 43% in 2011.
Despite 22% of respondents reporting cancelled plans due to bank rate rises, 65% of respondents were not encouraged to buy following the November and December interest rate cuts.
More than 40% of respondents expected further interest rate rises would keep buyers out of the market this year.
The survey also found more than half of consumers are now considering borrowing from or refinancing with smaller lenders after banks raised their rates independently of the RBA in February.
There are more factors than interest rate rises affecting consumer confidence, says Real Estate View general manager Petra Sprekos.
“Our survey shows that while interest rates are a key concern for buyers, there are other factors such as household expenses and job security influencing their ability to purchase,” says Sprekos.
“Consequently, we’re finding most are adopting a ‘wait and see’ approach. We definitely don’t see this changing anytime soon, especially if the big four break ranks with the RBA again and raise mortgage rates this month.”
Australians are being more conservative with their money, with a rising trend for consumers to hoard money. One-fifth of respondents had saved a deposit of more than 40%, while one-quarter had saved a deposit between 11% to 20%.
Almost 80% of respondents say they would prefer to buy a house over a townhouse, apartment or unit.
“Three-bedroom homes remain the clear front-runner for buyers (44%), followed by two-bedroom properties (27%) and four-bedroom houses (27%),” the survey found.
There was also a rise in people looking to buy properties worth more than $1 million. The figure is up significantly from 2011, rising from 1% to 4%.
“[This suggests] buyers are keen to capitalise on cooling prices at the top end of the market.”
The number of people looking to buy properties worth $400,000 to $600,000 remain stable at 34%, up slightly from 31% in 2011, “indicating competition will stay strong in this market segment”.
For advice about refinancing your mortgage, <a href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage" target="_blank">download our free eBook.</a>
{module What do you intend to do given the current interest rate fluctuations?}
 
 
 
 
 
 
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Recent bank rate rises cause one-fifth of Aussies to cancel home buying plans: Survey

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Something has got to give in the local Australian non-mining economy. Before all else, let me explain and then I will set out what I think will give first.  The high dollar is forcing large numbers of businesses to look at transferring manufacturing and service provision offshore. The high interest rates in Australia are fuelling that high dollar but also slowing local demand.  Many (but not all) unions, armed with 120 new weapons to use against employers via the so called “Fair Work" industrial relations act, are playing hard ball and becoming less flexible.  Productivity in Australia is falling –in other words, output per employee is falling. Employers are reluctant to retrench because of the high cost and the fear that the skills can’t be replaced.  Retailers are squeezing local suppliers because in the supermarket industry there is intense competition and in non-food retailing the internet gives customers the chance to bypass local retailers. And then we have power prices and other utility charges rising, plus the high carbon tax on top of all this. Consumers are lowering their borrowing and home building and commercial construction is slowing in non-mining Australia. All this is happening in an environment where the way we do business is changing dramatically as the real implications of internet/mobile phone communications on supply chains and consumer behaviour become apparent. Those that picked these changes and were first to move will do very well.
The state governments are cutting back on outlays because their budgets are under pressure and, not surprisingly, the profits of the non-mining sector are being squeezed in the above environment – so the federal budget is under pressure. At the same time the miners are involved in extensive expansion which always affects profits to some degree. And just to top it off the Greens are planing a massive attack on coal mining in Queensland while the unions are giving BHP the stick in Queensland coal. I am sure readers will think of more pressure points but we will stop it there. So what gives first? All around the country <a href="https://www.propertyobserver.com.au/industry-news/estate-agents-in-the-eye-of-australian-economic-structrual-upheaval/2012030653720" target="_blank">enterprises are re-looking at what they do and how they do it</a>. Supply chains are being re-examined and the effectiveness of systems and labour is being looked at. Those companies that do this quickly and well will prosper. On the labour front, the industrial relations act is going to cause companies to get much tougher. My guess is that we are going to see a great many disappointing profits – but again, it will not be across the board.  I believe we are gong to see a dramatic rise in overseas outsourcing lead by the service industries such as accounting computer technology. There will a big rise in the number of takeovers as managers see that some companies “get it” while other legacy businesses do not. Productivity will rise but in many areas it will be brutal. I must emphasise again that many businesses will do very well – especially those that adapt to the changes in the way we do business and those connected to mining. Industries like heath and those linked to Chinese tourism have a good outlook. Independent contracting is maybe the way around labour hire in a number of industries.
Last month Morgan Research showed a rise in unemployment but the latest Morgan figures show an unemployment fall, so this process of labour shedding has not really started. When it gets underway the repercussions will force the government to use its borrowing power to lower interest rates. Unfortunately, there are few places to hide.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
 
 
 
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A survival kit for non-miners: Robert Gottliebsen

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Australian women make great entrepreneurs. That’s not just an idle opinion – recent research revealed that Aussie women are <a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/innovation/aussie-women-the-worlds-most-entrepreneurial-report/201202235480">second only to their American counterparts</a> when it comes to starting businesses. 
But while plenty of women are launching their own businesses, there are some areas that are still deemed off-limits. 
Go to any gathering of tech, finance or manufacturing businesses, and you’ll do well to spot a female founder. 
Orsi Parkanyi, founder of networking group Women as Entrepreneurs, says: “Being a woman is not easy. Being a woman in a man's world is not easy either.” 
“But the most challenging of all is staying a woman in the men's world. I'd like to hope that women are not required to take on stereotypical male attributes in order to be successful, however, this is something I have been noticing we tend to do.” 
“Women who focus on their strengths and utilise traditional female traits such as strong interpersonal skills, networking skills and empathy to their advantage will have a good chance to stand out, be noticed and succeed.” 
“Finding mentors and seeking out influential social networks also a great way to get the support and encouragement women need from time to time.” 
Here, to mark International Women’s Day, are 10 of the best Aussie entrepreneurs who have overcome the gender hurdle. 
<h2></h2>
1. Cathy Edwards - Chomp
Cathy Edwards is the co-founder of app search start-up Chomp, which was recently <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/sell-a-business/apple-acquires-aussie-start-up-chomp-for-%24us50-million/201202275510">acquired by Apple for around $US50 million</a>. 
Prior to Chomp, Edwards led mobile product development at Friendster, and launched a converged SMS-IM mobile messaging product while at 3jam. She has also worked for Telstra.
“When building your start-up, it is important to focus your limited resources on components where you can add a significant amount of value,” Edwards told Women 2.0.
“Work out what technology will be core to your business, and find existing or outsourced solutions for everything else.” 
“From your very first hire, learn to hire engineers you trust and respect… You’ll be a lot less stressed out than if you’re the bottleneck for everything.” 
<h2></h2>
2. Nicole Kersh - 4Cabling 
Like many start-ups, 4Cabling was spawned from frustration with the status quo. While working at her parents’ electrical cabling company, Nicole Kersh found that getting prices from suppliers was a long and inefficient process. 
Realising that there was a lack of online cabling providers, Kersh took the plunge and started 4Cabling in 2006. The business has since boomed, pulling in more than $3 million revenue last year. 
However, Kersh has had to deal with outdated attitudes over both her age and gender, in what is traditionally a male-only sector. 
She says: “When I first started, none of my suppliers would take me seriously, it was very discouraging. But it made me realise the importance of building solid relationships.” 
“Customers still look at me sometimes and say, ‘I want the boss.’ I just go and find the oldest male employee. It’s a very male-dominated industry and people can’t comprehend I’m the boss.” 
“If they like the product, the notion of who runs the business doesn’t bother me.” 
<h2></h2>
3. Cherie Barber - <a target="_blank" href="https://www.renovatingforprofit.com.au/">Renovating For Profit</a>
<img src="/images/stories/cheriebarber.jpg" style="float: left; margin: 5px;">
After completing her first house renovation, Cherie Barber decided to ditch her career as a marketing executive to throw herself into the construction industry.
In the first year of her renovating career, Barber achieved a profit of $1.15 million after buying, overhauling and selling six properties worth a combined $6.3 million.
Her status as a rare female entrepreneur in a male-dominated sector has seen her courted by the media as a renovation expert.
In 2009, Berber launched Renovating For Profit, which sells workshops and courses to Australians looking to revamp their own homes.
Despite her success, gender-related challenges linger for Barber, as she explains: “Tradesmen try to give me ridiculously high quotes. I say that I know what things cost and if they're going to give me a ridiculous price, not to waste my time.”
“I ask for their opinion, throw out open-ended questions and do my research that way. If you look like you don't know what you're talking about, you'll get charged more.”
4. Sonja Bernhardt - Thoughtware
In addition to being the founder and chief executive of software company Thoughtware, Sonja Bernhardt also founded Women in Technology and Australian Women in IT and Science. 
Last year, she was honoured for her contribution to the industry with a Medal of the Order of Australia, and has been inducted into the Women in Technology Hall of Fame in Silicon Valley. 
Bernhardt believes most challenges can be overcome regardless of gender through rational thinking, having a healthy ego, and determination to “keep getting up and moving on”. 
“Technology is a career where your ideas and creations may end up creating a wave of change around the world or having a vast impact on a small community,” she says. 
“[However,] it takes you, your ideas and passion to make it happen. In any career, it is important to be involved in areas that [speak] to who you are, your style, your interests, your philosophy.”
5. Rebekah Campbell - Posse 
Becoming the manager of a leading band is rare enough among women, but even fewer have then switched careers to become a high-flying tech entrepreneur. 
Rebekah Campbell has <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/start-up-profiles/posse/201109213954">defied the odds to launch Posse</a>, an online platform that allows bands to offer rewards, such as tickets or backstage access, to fans that undertake various tasks, such as increasing the artist’s Facebook ‘Likes’. 
Although the promotions-based site is little over a year old, it has sparked high-level interest both in Australia and overseas. Google Maps founder Lars Rasmussen is an advisor and has predicted a big future for Posse. 
Campbell says: “(Starting up) was a long and tricky process, and it probably aged me by 10 years, but I learnt so much along the way.” 
“As a non-techie, I could identify clearly the problem that needed to be solved. A lot of tech companies can’t do that. But I needed to surround myself with the right people.” 
“I realised that the difference between a superstar tech team and a good tech team is the difference between Facebook and a shipwreck.” 
6. Catherine Prosser - StageBitz 
Having founded Canberra-based theatre software company Production Genie, Catherine Prosser was well aware of the rigors of starting a tech business. 
But that didn’t stop her from seizing the opportunity to launch another business, StageBitz, when the opportunity presented itself. 
StageBitz is a cloud-based web app that helps stage, film and TV production professionals easily manage their props and connect with others. 
Sydney seed fund Pollenizer liked the idea so much that it has backed Prosser, while Mat Lawrence, head of props at Opera Australia, is a co-founder. 
“Most of the time, people don’t think that a product like this exists, Prosser <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/start-up-profiles/stagebitz/201106273033?displaypage=start">told StartupSmart last year</a>. 
“We’re not doing a new type of an existing product – it’s a brand new thing. It’s not so much brand awareness but solution awareness, if you like, so that’s the biggest challenge.”
7. Kylie Gentle - Design Experts
As the co-founder of Design Experts, Kylie Gentle was recently named a nominee for Young Entrepreneur of the Year in the Asia Pacific Business Excellence Awards. 
Prior to Design Experts, which Kylie co-founded with her husband Tim, she worked as a housekeeper and cook on an outback cattle station. 
With long days and lots of time to spare, the Gentles began to build websites for local communities, which is how Design Experts was born. 
“[In regional areas], you’re dealing with a certain demographic that doesn’t necessarily want to deal with a woman,” Kylie says. 
“I’ve had to bite my tongue, regarding what I would normally say, and think about how I deliver my message.” 
8. Dale Burke - What Scratch? 
Dale Burke co-founded automotive scratch repair business What Scratch? with her husband Matthew. Last year, the business appeared in the StartupSmart Awards top 50. 
Dale says it’s her name that has proved to be the most eye-opening aspect of being female in a male-dominated industry, particularly when people speak to her for the first time over the phone.
“They’re expecting to call a man – it’s a male-dominated industry and I’ve got a male-sounding name, so I get some very interesting reactions when I say, ‘This is Dale speaking’,” she says. 
“I’ve had people hang up on me or say, ‘The ad said if I call this number, I would be speaking to the franchisee’. I have to explain that I am the franchisee.” 
“Usually, I just make a joke about it and start talking about the business. After a few sentences, they realise I know what I’m talking about. I have to win them over, I suppose.”
9. Lauren Staley - <a target="_blank" href="https://www.infolio.com.au/">Infolio</a>
<img src="/images/stories/laurenstaley.jpg" style="float: left; margin: 5px;">
Shaking up an industry that can be both resistant to change and male-centric is a challenge that Lauren Staley has not shied away from. 
Following a lengthy career in real estate, Staley realised there was a gap in the market for an end-to-end service that looked after the interests of all the parties involved in property transactions. 
She founded Melbourne-based buyers advocacy and property management company Infolio in 2008, also branching out into auction bidding, property negotiation and renovation guidance. Infolio is now making significant headway in the property market. 
Launching just before the GFC was a chastening experience for Staley, but it allowed her to remodel the business from the ground up, aiding its future growth. 
“I think it’s better to start from humble beginnings,” she says. 
“It gives you more focus. When the GFC hit, it was a humbling experience. We prospered because we had to be resilient and not spend money that didn’t make us money.” 
10. Caroline Robinson - Wheatbelt Business Network 
Caroline Robinson lives in Woolocutty, a tiny town in the middle of WA, and is the founder of the Wheatbelt Business Network, established to promote the services of local businesses. 
The WBN also provides opportunities for entrepreneurship and networking, training and education, and the advancement of women in business. 
“I’ve always run my community development and project management business as much as I can using online tools, email and Skype, rather than travel five hours for a one-hour meeting,” she says. 
Robinson also highlights the value of having a support network to draw on, including a director’s course she attended, in addition to the Rural Industries Research and Development Corporation. 
“I know I can ring and ask any of the women I was with [during the course] or the RIRDC alumni for advice on a problem,” she says.
This article originally appeared on<a href="https://www.startupsmart.com.au/" target="_blank"> StartupSmart.</a>
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Two property entrepreneurs in StartupSmart's top 10 gender barrier-breaking female entrepreneurs

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Asian and Middle Eastern investors are expected to target Australia’s CBD hotel sector in 2012 after the sector delivered total returns of 17.8% in 2011, led by Sydney hotels.
Sydney hotels delivered investors a 20% total return in 2011 outpacing Melbourne hotels, which managed returns of 13% in an overall strong year for inner city hotel markets, according to the latest Property Council of Australia (PCA)/IPD Hotel Index.
 
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Using data from 99 hotels worth about $5.6 billion, the index reveals that Sydney hotels outperformed the wider market and Melbourne hotels on the key industry measures of occupancy rates and revenue per available room (RevPAR).
On average, one night in a Sydney hotel room generated revenue of $182, compared with $148 in Melbourne and $143 nationally.
<img src="/images/stories/hotelmarch83.gif">
While Sydney clearly has bragging rights over Melbourne, both markets experienced significant increases in returns over the year<a target="_blank" href="https://www.propertyobserver.com.au/leisure/dollar-hurting-tourism-especially-queensland-coastal-hotel-occupancy-rba/2012030653721"> alongside a buoyant inner-city hotel market</a>.
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Troy Craig, managing director of strategic advisory at Jones Lang LaSalle Hotels, says the 2011 results are encouraging news for the hotel investment community and “will ensure that Australia remains a key target for global and regional hotel investors”.
“Transaction volume is expected to reach around $1.2 billion in 2012, representing an uplift of 20% over 2011 and slightly above the long-term trend.
“More owners are expected to take advantage of the trading upswing and exit over the next couple of years.  Asian buyers are expected to continue to dominate, although competition is increasing with a number of Middle Eastern sovereign wealth funds targeting acquisitions in the world’s most transparent real estate market,” he says.
Anthony De Francesco, managing director of IPD in Australia and New Zealand, says the hotel sector has shown “strong investment performance” over 2011.
“The strong investment returns reflects rising RevPAR as a result of persistently high occupancy rates due to low levels of supply and relatively strong demand.”
“We expect the hotel property sector to continue to perform strongly over the remainder of this year given its strong space market fundamentals against core property sector markets,” he adds. Tony Ryan, principal of Ryan Lawyers, which acts on behalf of hotel groups, says total returns increasing by nearly 50% for investment-grade hotels.
“Capital growth was the principal driver reflecting strong fundamentals and a confidence in future cash flows. With domestic corporate demand still robust, CBD hotels are hard to beat,” he says.
 
 
 
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Offshore investors expected to snap up CBD hotels after sector delivers 18% returns in 2011

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Today I’m using the occasion of International Women’s Day to reflect.  I thought about my role as a wife, mother, daughter and what I was doing to try and make a difference in my life and the lives of others.
There are two words that describe why I do what I do: financial freedom. This is behind my driving desires to build my investment property portfolio and also Property Bloom, my property development project management business.  Not just for myself, but for my family.  This drive has come from watching my parents in their retirement.  While they are living in a beautiful part of NSW and own their own home, they are on the old-age pension and really struggling to pay bills. There is no spare cash for a holiday or to reward themselves for working so hard all their lives, but they are still happy.
I want something different for my retirement, and I worked out 10 years ago after picking up the book Rich Dad, Poor Dad that unless I take full responsibility for my future and management of my own investments then I’d be in the same boat.
I also wanted to her other inspiring stories so I asked my female staff and clients what it meant to be financially independent.
Here’s Kylie’s story...I remember sitting down with my Nan many years ago and she was telling me how she had always had what she referred to as a “cunning kick”. Her cunning kick consisted of a couple of hundred dollars, which back then was a lot of money. She had it hidden in an envelope stashed at the back of the hall closet so no one, not even my Pop, could find it.
Later on in years, this amount grew to $1,000, then $2,000. She felt so confident that she had this safety net for her “just in case”. When we would visit, she would go to the envelope and give my sister and me $20, sometimes $50. It was obvious to us it made her feel good that she could do this for us.
Later on in life when they were on the pension, my Nan would go shopping and buy nice things for herself. She would come home and secretly change the price tags on clothes, jewellery or anything she had bought for herself, telling Pop she paid less than half the price she actually did pay for it.  My Pop never found out. Seeing my Nan in this situation, I soon realised I wanted something different.
Here’s Joanne’s story....Financial freedom means I have the choice to live where I want, somewhere that brings peace and joy to me just by waking up being surrounded in beauty.
I want to grow organic foods on my land to keep me healthy into old age. I want to have time to exercise and stretch.
I want to be able to travel if I want to both overseas and closer to home to experience more of the world and the people in it.
To really enjoy the beauty of nature by spending more time in it not rushing by it.
To have time to spend with family and friends, taking my niece and nephew on adventures.
Financial freedom is knowing that I can choose to work whenever I want to keep me stimulated and challenged and choose to not work when it is time to rest, meditate or play in the garden.
It is having the ability to say yes more often: "Yes I would love to go hang gliding!"
Financial freedom is being self-reliant empowered, in control of my own life and destiny.
Here’s Sandi’s story...
Financial freedom to me means a few things. Firstly it means that if anything ever happened to me or I ended up on my own, my family would be OK without me financially or I would be OK financially if on my own. That gives me piece of mind.
Then I suppose from a more selfish point of view, financial freedom would be to have our investments working for us: not us working for them. That’s the ideal position I’d like to get into. To have more time for the family and also importantly, for myself (I’ve learnt that this week from ending up with pneumonia from over-doing it!).
What is your plan to financial freedom?  Perhaps it’s a good question to ask yourself today, even if you are not a woman.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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What financial freedom means for women

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There was a significant change to Victorian law that came into force on March 1. In Victoria, buyers of property who sign a contract of sale have three clear business days with which to withdraw from the contract for any reason they choose. There were a few exceptions to this rule, the main two as far as the average buyer was concerned were: if you signed the contract of sale within three business days either before or after a publically advertised auction or if you had received advice from a legal practitioner before signing the contract. The latter no longer is in force.
You can now receive legal advice prior to signing the contract and you still have your cooling-off period. Even though I only work for buyers, this change to the law doesn’t necessarily help us. It removes the possibility of finality. It makes it impossible to offer a good deal that gives the vendor surety. We have made many deals happen specifically because of this. The three-day cooling-off period was designed to allow those purchasers who signed a contract without legal advice time to get someone to look over the deal they had made. It is now designed to allow people to change their minds.
There is one benefit that I can see for the prospective purchaser. Many times we have decided to buy with a condition subject to pest and building inspection and to soften the condition we agree to get the inspections within the three-day cooling-off period. To do this means we couldn’t in the past get legal advice prior to signing the contract: now we can.
This has significantly changed the negotiation landscape for buying property. If a selling agent wanted to do a deal before an auction, he or she would normally only take an offer if the purchaser had received legal advice. In other words, the offer was unconditional. That means they could call around to other interested parties and say, “We have received an offer that will buy the property prior to auction. If you wish to purchase the property please have your offer in by 5pm today.” They would normally give a fairly close indication as to the offer, in order to push up anyone else. They knew if they didn’t get any better offers they had the property sold regardless. This scenario is similar to a “boardroom auction”
With the change to the law on March 1st this year, this is no longer an option for selling agents. Boardroom auctions are no longer viable as they are not final (the offer would have a three-day cooling-off period). Sale by set date, tender and expressions-of-interest campaigns will no longer work as they were intended. These offers usually state that the purchaser must have attained legal advice prior to submitting an offer, thereby making all offers received unconditional. This is now no longer the case.
Even offers within the auction campaign will prove difficult. For example, an agent is given a very good offer on the Tuesday before a Saturday auction. If he takes it and lets all other interested parties know he has an offer that dramatically exceeds the range and will be accepted by the vendor if no better offer is received, he runs the risk of scaring off all the other contenders, albeit at a lower number, while he has to wait until Friday night to see if the purchaser cools off. If he doesn’t take the offer and this purchaser does not attend the auction, he may have made a substantial error for his client.
I can’t wait for someone to challenge the definition of a publically advertised auction. Can a publically advertised auction be “advertised” on the internet for today at 4? I am unsure of what the length of time needs to be before an auction is deemed “publically advertised”. If there is no time frame, can an agent who knows he is going to get an offer at 2.30pm advertise the property on the internet at 1pm that the property will be for public auction at 5pm on the same day and therefore avoid the cooling-off period?
The most interesting issue in this change and would probably come under the rule of unintended consequences is the fact that real estate agents now have an advantage over all others who put offers on properties outside the auction period. There offers will be unconditional and therefore if the numbers and terms are the same, better than someone else who has a three-day cooling-off period.
Ian James is director of <a target="_blank" title="JPP" href="https://www.jpp.com.au">JPP Buyer Advocates</a> – the largest dedicated buyer advocacy in Melbourne. With extensive experience in all matters regarding real estate, JPP successfully purchases and negotiate more than $100 million worth of property each year for clients.
 
 
 
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New Victorian cooling-off rules could hurt vendors and agents

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On March 1 (last week) the cooling off laws were amended so that now almost all purchases, except those transacted three days either side of an auction, are subject to a cooling-off period. Previously agents could remove the purchaser’s ability to end a contract within three business days of signing by forcing them to seek legal advice prior to making an offer.
Will this amendment have any material effect on the upper end market?
It might. What’s likely is that we’ll see fewer agents considering offers that come in well before auction day, and agents busier than ever before on the three days just before and after the auction when an agreement can be locked in with more certainty.
We may also see less of the early auction ring-around with a good offer. Let’s say an agent receives a $3,5 million offer in writing on a $3 million home three weeks before the auction. Why would the agent do the ring-around to other buyers, potentially scaring them away from the home at $3. 5million if there was a possibility that the $3.5 million buyer might exercise his right to cool off? That would significantly affect the auction momentum. What’s more likely now is that the seller will simply accept the $3.5 million, wait till the cooling off is over and then tell other buyers the deal is done – perhaps creating more heat between selling agent and buyers.
Alternatively, there may now be a potentially acceptable buyer strategy where the buyer makes a high offer, then takes advantage of the protection of the cooling-off period to end the contract and then come in later at a lower amount and perhaps under another name – having seriously disrupted the sale process.
What about a boardroom auction? Does this qualify as a publicly advertised auction in all cases with regards to cooling off? What is the definition of publicly advertised? We are looking forward to a clarification on this from the REIV and the government.
Cooling off raises other issues, too – especially if you are involved in long negotiations. What most people don’t realise is that your cooling-off period begins when you make an offer, not when agreement is reached with the seller. So if the negotiating process takes longer than three business days, you will have lost your cooling-off period. There are also some other tricky issues re forfeiture of monies, and the actual process of claiming cooling off. So get some legal or buying agent advice before relying on it as a strategy.
Personally we think you are unwise to use cooling-off as a strategy in negotiation. We as an organisation do not use it as a negotiating strategy. Our strong recommendation is that you do all your due diligence prior to signing.
 Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
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