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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The cruise ship the World of ResidenSea left Melbourne unnoticed, but no doubt arrives tomorrow in Sydney to a somewhat soggy welcome. Continuously sailing the seas, and docking where the owners’ corporation want: that's life aboard The World, the still-unique floating private community that is permanent home to wealthy residents and their occasional guests.
Owned by those who live on board, The World has visited more than 125 nations and circles the globe every two to three years. The 43,524-tonne ship can travel the world at a maximum 18 knots.
Australians, especially Sydneysiders and Gold Coasters, are almost over-represented among the owners, which might explain the frequency of the trips Down Under.
The 165 lavish apartments consist of 106 two- and three-bedrooms units, there are 18 one- and two-bedroom homes, and then there are 39 studios.
There are six apartments currently available for resale including the priciest - a combined 388-square-metre 11th-floor offering at $10 million through Savills.
The facilities include two pools, a tennis court, virtual golf, gym, library, chapel, deli and even House of Graff jewellers.
It’s a 12-deck, 196-metre vessel that first set sail in 2002, and officially sold out four years later. The initial sales were at around the $42,000 a square metre mark.
"OUR EXECUTIVE CHEF GOT SOME LOBSTERS STRAIGHT OFF THE BOAT TODAY, CAN I TEMPT YOU TO TRY ONE?”
Title Tattle was aboard The World of ResidenSea, the first time it sailed into Sydney Harbour in 2003, bunked down in a 30-square-metre studio apartment among the then $850 a night paying guests on the lowest deck. But familiar faces among the owners upstairs were soon apparent. The language translation business entrepreneurs Nicola Chapman and Andrew McLeay – who played the doctor in the murder mystery night during the cruise – ranked among the Australian couples who were owners on The World. The late Sydney stockbroker Michael Toltz was another on-board owner. As where Bill and Imelda Roche, the developers of the Hunter Valley gardens estate.   Developed between 1998 and 2003 and spanning 25 hectares, the site is one of Australia's largest privately owned gardens which comes with cellar door with wines named after Bill and Imelda.  The Roches are presumably still enjoying their eight-floor apartment on The World, although Title Tattle was quite surprised to see them counted as crew in the ship’s manifest when it left Port Melbourne last week bound for Hobart and then Sydney. 
Click to enlarge
<a href="/images/stories/roche.jpg" title="Click to enlarge" rel="shadowbox"><img src="/images/stories/rochethumb.jpg"></a>
The Scottish-born Levin Wine founder David Levin, and his Australian wife, Lynne, were aboard when it left Melbourne. David Levin, owner of The Capital Hotel in London, started growing his own grapes in the Loire Valley, France in 1985 to produce his own private label wines for his luxury hotels and restaurants. The Levins were great mates of the late Len Evans and during their numerous trips to Australia they were introduced to many advances in viticulture that they've now adopted at their Loire vineyard. 
As its many cloistered owners don't wish to be named as owners, ascertaining continued ownership is a little tricky, but acquistions by Australians have continued with Richard Penn, the one-time Gutbuster entrepreneur, and his wife, Heather, now among the reputed owners. From NSW's Southern Highlands, Ken and Susan Cooper, who own the Sutton Forest, Rotherwood estate are among the owners too.
Title Tattle recalls, that boarding in Sydney back in 2003, was the engineer Bob Sparke from Belvedere estate at Burradoo in the NSW Southern Highlands. Title Tattle recollects  Sparke's acquaintanceship with mining tycoon Gina Rinehart had blossomed and they were then regularly following the sunsets from a ninth-floor apartment. Gina, who of course can’t help working, had Queensland government ministers aboard at a 2010 private dinner which triggered some parliamentary controversy.
Built at a cost of $US262 million, The World was conceived in 1997 by Norwegian shipping magnate Knut Kloster jnr, whose father started the Norwegian Caribbean Line in 1966. The idea was to establish an exclusive floating resort whose residents would circumnavigate the world, visiting desirable destinations and attending global events. Initially boasting a one-to-one guest/staff ratio, the ship's exclusivity stemmed from the original requirement that owners have a $5 million-plus net worth. So the World is viewed by some as Noah's Ark for the filthy rich. 
Plenty of Americans were the early buyers including Jim Blair, a retired Silicon Valley property developer, and William Scott, a retired New York adman.  The Colorado-based health-club industry entrepreneur Richard Reed headed the residents' committee after paying $US21,000 per square metre for his 126-square-metre apartment. Any buyers of the 50-year-long leaseholds must prove a net worth of $US5 million and have no criminal record. 
Back in 2003 its wealthy apartment owners were beginning to mutiny. Motivational speaker John Demartini and his late wife, Australian astrologer Athena Starwoman, had outlaid $3 million on their glamorous cabin and expected nothing less than luxury while following the sunset in the ocean-going luxury ship. It was a one-bedroom apartment into which they moved after selling their Trump Tower apartment, unnerved after the September 11 terrorist attacks.
But after setting sail from Oslo in 2002, The World was overrun by rowdy short-stay tourists invited aboard by the ship's financially challenged operator to help fill the many unsold apartments.
"You would get to some ports, and there were three or 400 people who would come on board," complained Demartini. "You're sitting there and they're all tramping through your house."
Apparently the last straw for the owners aboard was when 20 top-selling Ford Australia dealers dressed in their company-logo T-shirts partied aboard during its 2003 Sydney docking.
Things have changed and the $1,000-plus a night six-day minimum stay has cleared the riff raff from the ship. Although Title Tattle did notice last year Demartini was offering one of his motivational lecture attendees the chance to also spend an extraordinary day with him and a small, elite group of other pioneering leaders at his luxury residence on The World. 
After Sydney it’s cruising Milford, Doubtful and Dusky sounds in New Zealand. Bon voyage!
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jchancellor-FAypfDUnLy

Millionaires see the world in floating apartment complex ResidenSea: Title Tattle

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The number of suburbs with median house prices above $1 million fell both in Melbourne and Sydney over the second half of 2011, with notable falls recorded in Toorak, a suburb synonymous with wealth and prestige.
APM senior economist Dr Andrew Wilson says the Melbourne prestige market has been “very soft”, with top-end buyers very scarce at the moment.
“There was some activity towards the end of the year, but this was mainly from bargain hunters – there is good value to be had,” he says.
<img src="/images/stories/17.gif">
The number of Melbourne suburbs with a median house price of more than $1 million, down from 28 in the first half of 2011.
 
<hr>
 
<img src="/images/stories/92.gif">
The number of Sydney suburbs with a median house price of more than $1 million, down from 102 in the first half of 2011.
<img src="/images/stories/17.gif" style="border-style: initial; border-color: initial;">
The number of Perth suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/4.gif">
The number of Adelaide suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/2.gif">
The number of Brisbane suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/1.gif">
The number of Canberra suburbs with a median house price of more than $1 million.
 
<hr>
 
Toorak recorded 92 sales over the period with a median price of $1.2 million while Malvern was also a notable prestige suburb to suffer a major house price correction, with its median sales price dropping 31% to $1.085 million from 73 sales during this period.
Most tellingly, Sydney has 52 prestige suburbs with higher median than Toorak. The list is topped by Bellevue Hill in the eastern suburbs, which has a median of $3.3 million from 39 sales.
AMP senior economist Dr Andrew Wilson says there were enough sales in Toorak for the result not to be a “statistical blip”.
“Toorak is traditionally a prestige cachet suburb, but it actually has a mixed profile in terms of price disparity and has some lower-priced properties,” he tells Property Observer.
The top ranking Melbourne suburb was Canterbury – 10 kilometres east of the CBD – which has a median sales price of just under $1.7 million achieved from 54 sales.
The fact that Canterbury ranks at the top reflects the quiet state of the market, Wilson says, because it has always ranked “second or third in terms of prestige”.
However, he says Canterbury is home to Melbourne’s “golden mile”, an area incorporating oak tree-lined Monomeath Avenue, whose residents have included the Minogue family, race car champion Mark Eddy and Andrew Peacock, former leader of the Liberal Party.
One of the strongest-performing prestige suburbs over the six-month period was Albert Park, a few kilometres south of the CBD and well known for its heritage buildings and <a title="Terraced house" href="https://en.wikipedia.org/wiki/Terraced_house">terraced houses</a>.
Albert Park ranks second on the list of prestige suburbs with a 35% gain in the second half of 2011 to a median of $1.55 million.
The bayside suburb of Brighton remains the most popular among prestige buyers, recording 151 sales during the second half of 2011, with the median sales price rising 18% to $1.22 million.
Looking at Sydney, Wilson says most prestige suburbs in the top 20 recorded price falls over the six-month period.
Among those to suffer big price falls were Palm Beach, where the median price fell 26%, and Mosman, where prices fell 10%.
Looking ahead, Wilson expects a slow recovery at best for the prestige market.
“One of the positive things has been the stock market, which has been building solid base with incremental increases.
“It’s a key signal for prestige market, but there is a long way to go.
“We won’t see aspirational buyers until the third or fourth quarter, and we won’t see the kinds of prices we have seen in the past.”
Photo by <a href="https://98octanephotography.com/" target="_blank">98Octane Photograhy</a>, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
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lschlesinger-FZcF9M3vE6

Number of million-dollar Melbourne suburbs falls to 17: APM 

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The growing pipeline of new apartment projects in Brisbane will be met by a rebounding appetite for rental accommodation close to the city, according to economic analysts and forecasters BIS Shrapnel. 
In its Inner Brisbane Apartments 2011 to 2018 report BIS Shrapnel forecasts about 1,500 apartments to be completed in 2012 – more than double the 700 or so completed in 2011. 
Completion will fall again in 2013 (though still above 2011 levels) but then rise again in 2014 and 2015 to a peak of 2,500 apartments, according to BIS Shrapnel.
Click to enlarge
<a href="/images/stories/bismarch2.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/bismarch2thumb.gif"></a>
High-profile inner-city Brisbane projects include Lend Lease’s redevelopment of the RNA showgrounds to accommodate a resident population of 10,000 people and a workforce of 8,000 people, <a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">Alex Perry’s designer apartment building on Ann Street</a> (131 apartments) being developed by the Chrome Property Group and Metro Property Development’s 14-storey <a target="_parent" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">Brooklyn complex on Brookes Street </a>(191 apartments), a joint project with Indian-based Pearls Australiasia.
According to BIS Shrapnel rising tenant demand will be underpinned by growing employment in the Brisbane CBD and CBD fringe areas as the Queensland economy begins to strengthen from its recent troughs. 
Report author Angie Zigomanis says that recent high vacancy rates in inner Brisbane were due to a collapse in rental demand between 2008 and 2010 following the GFC, rather than a result of any excess building. 
“Tenant demand was so weak that it was unable to even absorb new apartment completions that had fallen to 15-year lows,” says Zigomanis. “As a result, vacancy rates in inner Brisbane rose significantly, increasing to well above the balanced market rate of 3% in 2009 and 2010.” 
But Zigomanis says the weak environment has created a “level of latent demand from potential tenants who would have otherwise been in the rental market and have delayed their move until they are more positive about their employment prospects, and consequently their ability to meet their rental payments”. 
BIS Shrapnel says tenant demand in the inner-Brisbane apartment market is driven by two major groups: young (under 40 years old) white-collar employees working in the Brisbane CBD or CBD fringe areas, and students, who are predominantly from overseas. 
And while growth in overseas student numbers is still expected to remain limited due to the high dollar, white-collar employment in central Brisbane is poised to recover quickly as jobs are created to support the rising investment in coal seam gas projects in regional Queensland. 
“Together with the release of latent demand from those who have been sitting out of the rental market, this will drive a strengthening in tenant demand,” he says. 
Zigomanis says due to a combination easier financing for developers and developers making alternative finance arrangements, an increasing number of projects now in the development pipeline are proceeding through to commencement and will result in an increase in new apartment supply. 
However, many are not expected to translate into to new supply until 2013-14. 
“Up to then, the rising tenant demand will cause the rental market in inner Brisbane to tighten considerably,” he says. 
“The tightening vacancy rates will drive acceleration in rental growth for apartments, which in turn will result in improved yields and a strengthening in off-the-plan purchaser demand. 
“Price growth will also follow as investors subsequently enter the market in greater numbers, particularly once there is evidence that the Brisbane residential market has bottomed out. 
“The increase in off-the-plan sales will drive further increases in new apartment supply, although it will be beyond 2013-14 before new supply will have an impact on vacancy rates,” he says. 
“Nevertheless, due to the double-digit percentage rises in both rents and prices leading into the GFC, the outlook for rental and price growth over the next few years will be more moderate, with both rising in line with income growth – that is, in the mid-single digits per annum range on average.” 
A <a target="_blank" href="https://www.propertyobserver.com.au/residential/inner-brisbane-apartment-market-risks-oversupply-report/2012022653047">recent report by valuation firm LandMark White</a> warned that a combination of too many projects and historically low demand could result in oversupply of new apartments in inner-city Brisbane suburbs like Fortitude Valley and Bowen Hills. 
The latest figures from the Real Estate Institute of Queensland for the December 2011 show that rental vacancies in inner Brisbane increased from 1.4% in the September 2011 quarter to 1.9% in the December 2011 quarter, while the overall city vacancy rate remained unchanged at 2.3%
 
 
 
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Tenant demand to meet surge in inner-Brisbane apartment completions: BIS Shrapnel

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A career in real estate is fulfilling and rewarding. As a professional estate agent, you have the flexibility, freedom and opportunity to control your own career path.
A successful estate agent is goal-focused, committed, self-motivated, ambitious and people-oriented.
Qualified professionals in real estate can specialise in a wide range of areas: residential sales, auctioneering, property management, commercial sales, commercial property management, buyer or vendor advocacy, business broking or a mix of the above.
Real estate professionals work in many different sectors; in addition to working in or running estate agencies, they also work in the development industry, banks, law firms, government and academia.
The first step for most people in becoming a licensed real estate agent is to gain practical experience working as an agent’s representative under the supervision of a licensed estate agent. To work as an agent’s representative you must successfully complete a course of three units of study and meet a range of basic criteria outlined by the Business Licensing Authority.
To take the next step in your career and become a licensed estate agent you must successfully complete an additional 21 units, covering every aspect of the profession. This course can be undertaken in conjunction with the agent’s representative course so that, at the end of your first 12 months, you satisfy both the experience and educational requirements to apply for a licence in Victoria.
The REIV is the number one provider of real estate training in Victoria and will help you achieve the career goals necessary to be successful and to stand out from your competitors.
If you would like to find out more, including current costs and specials please visit <a href="https://www.reiv.com.au/" target="_blank">www.reiv.com.au</a>. Information about the requirements of the Victorian government can be found at <a href="https://www.bla.vic.gov.au/" target="_blank">www.bla.vic.gov.au</a>.
Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank">Real Estate Institute of Victoria</a>.
 
 
 
 
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enzoraimond-7fvRFHPR52

How and why to become a real estate agent

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639 and 640/ 58-62 Delhi Road, North Ryde, NSW, 2113
<img src="/images/stories/delhird.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
These serviced apartments are leased to the Quest hotel group until 2013, with three further five-year renewal options. The properties are now returning gross rent of $36,000 per year, with a guaranteed 3.25% rental increase every year. The guaranteed rental income and extremely high rental yield could make them a good prospect for investors.
City Partners Realty agent Alex Ye <a target="_blank" href="https://www.citypartnersrealty.com.au/index.php">is marketing the properties </a>with price hopes of $400,000 plus. It is a mortgagee sale. If they sell for $400,000, that would secure an investor a gross rental yield of 9%, almost three times as high as the indicative gross rental yield for North Ryde units of 3.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. For this property Quest pays strata, water and council rates, the investor is only liable for a sinking fund.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $9,000 and over five years to be $32,000.
The median unit price for North Ryde rose by 13.4% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 3 at 3.30pm and will go to auction on Wednesday, March 14 at 6pm.
For more about prices and yields in North Ryde, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
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1/67 Ballarat Road, Footscray, VIC, 3011
<img src="/images/stories/ballaratrd.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
This two-bedroom, ground-floor apartment is currently rented at $310 per week. Its tenants are on a month-to-month lease, and their rent was raised from $300 to $310 in January. It includes a full laundry, private garden and balcony, and it is within walking distance of Footscray Gardens, Victoria University and the train station. 
Hocking Stuart agent Adam Welling<a target="_blank" href="https://www.hockingstuart.com.au/?Property-Search"> is marketing the property</a> with price hopes of $250,000 plus. If it sells for $250,000, that would secure an investor a gross rental yield of 6.5%, higher than the indicative gross rental yield for Footscray units of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. 
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000.
The median unit price for Footscray fell by 10.1% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 3 at 10.15am and will go to auction on Wednesday, March 24 at 11.30am.
For more about prices and yields in Footscray, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
 
 
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cknowlton-QnEa6ntUYP

Friday Form Guide: Yields of up to 9% in North Ryde

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Craig Anderson and Craig Minahan, who headed the beleaguered Ashington property development group, and partner Ray Burkett have lodged a caveat over the title of the Ritz Carlton/Stamford Double Bay hotel development site.
Their company, Trioline Pty Ltd, claims an equitable interest with a claim for unpaid project development fees.
The caveat notes an equitable lien over the assets of the Project X Hotel Trust to secure payment to the Anderson company of Project X development fees.
NSW Supreme Court proceedings are underway between the Anderson trio and the property group Parissen Capital Project X, which assumed control of Ashington’s development project in 2010.
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Parissen Capital is co-directed by Sam Renauf, who has been an executive with Scarborough Pacific, which fronts <a target="_blank" href="https://www.propertyobserver.com.au/developments/controversial-double-bay-high-rise-hits-the-market-in-new-twist-to-four-year-saga/2012022953628">the Double Bay project’s</a> current syndicate. Another former Valad Property Group executive, Nicki Garrett, is also a director at Parissen.
There was prior disputation over the project in 2009 when Valad was involved in the development but there was a falling out over monies due by Ashington for the final instalment of a fee payable under a facilitation agreement pursuant to which Ashington was introduced to the Double Bay venture.
The failure to make a payment resulted in Valad issuing a notice of demand to Ashington in June 2009.
Superannuation funds LUCRF, Sunsuper and HESTA reportedly put $150 million in the Ashington with much of the money having been written off.
 
 
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New drama in Double Bay Ritz Carlton/Stamford project as former Ashington partners lodge caveat over site

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People say there are only two things that are certain in life: death and taxes.
However, over the last 30 years of being in practice and managing clients affairs and having seen the problems people get themselves into when investing into property, we have come to the conclusion that there is a third absolute certainty.
It's absolutely certain that one’s circumstances will change as one goes through one's life cycle.
For example, you could be single today and married tomorrow. You could be without children today but you may have children tomorrow. You could be married today but divorced tomorrow. You could be working today but unemployed tomorrow. You could be working today but stop working tomorrow to be a stay-at-home parent. You could be an employee today and self-employed tomorrow. You could be employed today but retired tomorrow.
The different scenarios are enormous but what you can count on is that it's absolutely certain that your circumstances will change and this will affect your life.
So what has this got to do with property investing, and why are changes in one's circumstances a problem with your investments in property?
When your circumstances change it affects your tax and asset protection position.
For example, you could be working today and paying lots of income tax so you buy a negatively geared property and you buy that property in your name to get a big refund from the Tax Office. Then you fall pregnant and stop working to become a stay-at-home mum. All of a sudden your income levels change and you are no longer paying those big taxes. The result is that all that negative gearing, which was great whilst you were paying lots of tax, is now wasted and you wish you could pass the tax benefits over to your husband, who is still paying tax.
The problem is if you were to transfer the investment property to your husband’s name, you have to pay capital gains tax and stamp duty.
You may buy an investment property in the name of the person who earns the highest income and pays the most tax in order to get the biggest tax refund, but when the property is sold he will pay the highest capital gains tax because capital gains tax is charged at the person's marginal tax rate.
If he buys too many properties in his name than he will exhaust his land tax threshold and start paying a lot of land tax.
You could be an employee today with very little risk of litigation, but tomorrow you either start your own business or you get promoted to a manager of your business and are liable for any mistakes and exposed to litigation. All assets that are in your name are now exposed to predators, including the family home if it is in your name.
 
Some say that they have taken out insurance so therefore one is covered. Just ask the flood victims in Queensland who took out insurance. While there were no problems the insurance companies happily take your premiums, but wait till you try to make a claim and see the excuses they come up with to avoid paying your claim.
Recently a woman in Australia was sued by one of the music companies for illegally downloading songs on the internet. She was required to pay $100,000 per song and there were 16 songs she downloaded. That is a liability of $1.6 million plus legal costs. She was forced to sell her home, valued at $600,000, to repay this debt.
Naturally if her home was not in her name she would have avoided having to pay this debt as they would have dropped the case because they would have ended with up nothing anyway. Or if she had taken appropriate action prior to this problem occurring such as stripping the equity from her home she could have avoided losing her home. There are many ways to protect your assets, including equity shift, where the equity in your assets are stripped away.
You could purchase your new investment properties in a safe haven such as a property investors’ trust while stripping the equity in your home so there is zero equity.
Your personal circumstances will determine what strategy can be used.
Our most popular strategy involves the granting of a life interest in conjunction with your bank loan to protect the family home.
You have been buying properties in your name because you are the one paying the most tax and consequently you now have 10 properties in your name and you are about to retire to live off the rental income from your properties.
You have lost the tax breaks by not having half the properties in your spouse’s name to pick up the income tax threshold in her name. You are now paying twice the tax that you needed to.
It's important you get advice before you buy an investment property. Once you have exchanged contracts it's too late and the cost of fixing the problem can be very expensive. The stamp duty on the average property is around $25,000 plus all the legal costs to change the title to the correct name.
Ed Chan is a founding partner of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan and Naylor</a> accountants and a leading property tax specialist. He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
 
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Plan for tomorrow’s changes so you don’t get stung by the taxman

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A property manager should be competent to look after all the day-to-day runnings of the property – from assisting the owner with tenant selection, to co-ordinating maintenance, making suggestions on property improvements and updates, paying the outgoings such as council, water and owner corporation accounts, and collecting the rent for the owner.
They should have a good understanding of what the owner expects of them, and they should be proactive and responsive with clients – without simply passing on the problem to the owner to make a decision. Owners pay for the services of a property manager for their advice, experience and to provide direction and recommendations when it comes to making the tough decisions.
When looking for a property manager, I recommend investors take a few minutes to speak to someone they are looking at employing. Don’t base your decision on fees alone, nor the location of the property manager.
Times have changed and a property manager no longer needs to be around the corner from the residence. If you don’t have time to call, send an email and review how long it takes to get a reply. This will give you an excellent indication of their communication and time-management skills. Both are extremely important for a good property manager.
A property manager needs to know a lot. They’re regularly asked for advice on legislation requirements, insurance policies, building requirements (especially with so many clients now buying new and off-the-plan properties), and often assist owners and tenants with budgeting. They’re also required to communicate with owners and tradespeople regarding maintenance or renovation issues affecting the property.
I don’t believe a certain number of years in the industry makes for a good property manager – some have been in the industry for 20 years and haven’t attended any training since 1990.
So, when it comes to appointing a property manager to look after your property, look for someone who has a passion for the industry, who regularly updates their skills and knowledge, and who isn’t afraid of technology or change.
Leah Calnan is the director of <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
 
 
 
 
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How to ensure your property is in the best hands

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AFG mortgage brokers broke in-house records in February, processing a 7,000 loans with a cumulative value $2.8 billion.
This was a 40% increase on the 5,365 loans totalling $2 billion processed in January 2011 and 28% higher than the $2.2 billion processed in February 2010.
The numbers are fairly astonishing given that mortgage lending grew by just 0.5% in January, according to official RBA figures, with annual growth at just over 5%, the <a target="_blank" href="/news">lowest figure in the 35 years of record keeping by the RBA</a>.
In a month when lenders decoupled from the RBA cash rate, announcing out-of-cycle rate rises, more new borrowers than ever before – 23.2% –chose fixed-rate loans, surpassing the previous high of 20.4% for fixed-rate loans recorded in October last year and triple the February 2011 fixed-rate percentage of 6.6%.
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In another first for AFG, the average new home loan in Australia reached $400,000 – up from $385,000 in January and $382,000 in February 2011.
Across the nation, NSW had the highest average new home loan – $471,000, followed by WA at $421,000 and Victoria at $409,000.
“The dynamics of the home loan market are changing in a number of ways. The very good news is that the past six months has seen a steady stream of First Home Buyers return, which is vital to the future of property markets,” says Mark Hewitt, general manager of sales and operations at AFG.
“As well as this, increasing competition among major and non-major lenders, and the decoupling of lender rate announcements from the RBA is making the mortgage market a more complex place.
“This is an environment in which brokers thrive, because borrowers know they really need to shop around for the best deal, and increasingly rely on us to do so. Concern about the future of rates is also the reason why record numbers of borrowers are choosing to fix rates."
During February, major lenders’ share of new AFG mortgage lending dropped from 79% to 76.1%.
Most of this change was because of an increasing trend among first home buyers to opt for non-major lenders – up from 27.4% in January to 29.1% in February.
 
 
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AFG mortgage brokers defy gloom with 40% jump in sales

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Mortgage lending remains in the doldrums, managing only growth of only 0.5% in January to be up 5.3% over the past year, according to new credit figures released by the RBA. 
The 5.3% annual growth in mortgages is the lowest level since the RBA began keeping records in August 1977. 
Owner-occupier housing credit rose by 0.5% in January to stand 5.7% higher than a year ago (also the lowest since records were kept dating back to January 1991) while investor housing finance lifted 0.4% in January to be up 4.7% over the year (a three-year low). 
The latest figures show that the non-bank sector (including building societies and credit unions) continue to lose ground to the banking sector in mortgage lending despite their best efforts to encourage borrowers to consider switching to an alternative smaller lender. 
The cumulative non-bank mortgage book shrunk by $500 million over January, from $156.6 billion to $156.1 billion. 
In comparison, the banking sector increased its cumulative mortgage book by $4.1 billion fr0m $1.682 trillion to $1.686 trillion, with the major banks accounting for $1.361 trillion (81%). 
The RBA figures show that personal credit fell by 0.2% over the month to be down 1.3% over the year just, close to the biggest decline in over two years. 
Business credit also fell by 0.2% in January after a 0.3% rise in December. Business credit is 1.4% higher than a year ago.
 
 
 
 
 
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