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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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.

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<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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During the 2011 calendar year, the number of housing finance commitments to first-home buyers increased by 0.6% compared with 2010 volumes.
In 2011 there were 94,437 housing finance commitments by first-time buyers. Although the volume of commitments was up compared with 2010, during the calendar year the number of commitments was quite low on an historical basis.
Over the calendar years between 2001 and 2011 there has been an average of 120,226 first-home buyer finance commitments each year. This result shows that first-home buyer activity in 2011 was 21% below average. In comparison to the record numbers of first-home buyers in 2009, activity in 2011 was 50% lower in 2011. In comparison, non-first-time owner-occupier buyers were up 2.5% in volume over 2011 compared with 2010 and the value of investor commitments was down 7%.
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The above-average levels of mortgage rates throughout most of 2011 is one of the major factors behind the low level of activity by first-home buyers. The other influences can probably be tied back to the generally low levels of consumer confidence and the overall soft housing market conditions where there is little urgency to rush into a purchase decision.
Over the 2011 calendar year home values across the combined capital cities fell by 3.6%. This fall in home values was the largest annual fall recorded over any year over the last decade. The fall in values was also accompanied by a decline in the volume of transactions, which is estimated to be 6% lower than it was in 2010. Despite the decline in values and transaction numbers, first home buyer volumes largely remained unchanged over the year with a slight improvement.
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There are two main reasons why we haven’t seen a further decline in first-home buyer activity. Firstly, certain state governments have offered their own incentives for first-home buyers. For example, changes to stamp duty rules in New South Wales provided an incentive for first-time buyers to enter the market. Secondly, with volumes depressed and values falling at a time when rents are rising, some first-home buyers would have been attracted to entering the market, albeit at fairly low levels on a historical basis.
Across individual states, the activity by first-home buyers has varied greatly. As already mentioned, across the country the number of first-home buyer finance commitments has increased by 0.6% over 2011. The number of finance commitments by first home buyers rose in Northern Territory (18.5%), New South Wales (12.5%), Western Australia (10.7%) and Queensland (4.9%). On the other hand, first home buyers were less active than in 2010 in Victoria (-14.3%), South Australia (-11.3%), Tasmania (-6.0%) and the Australian Capital Territory (-5.9%).
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Interestingly, first-home buyer activity increased in New South Wales, Queensland and Western Australia, and these are the three states with the greatest deficiency of housing supply according to the latest Housing Supply Council report for 2011.
On a monthly basis, housing finance commitments in December 2011 accounted for 20.9% of all owner-occupier finance commitments. This proportion was the highest since January 2010 (22.8%). In December 2011, the proportion of first-home buyer finance commitments was slightly higher than the five-year average.
The increase in first-home buyer finance commitments is largely the result of a surge in activity across New South Wales, however, volumes also increased over the month in Victoria, Queensland and the Northern Territory, just not to the same extent. The large jump in New South Wales is most likely due to the stamp duty exemptions for first-home buyers, which became available at the end of 2011 (these concessions expired on Jan 1, 2012). Given this, we expect first-home buyer sales in NSW to slip in the new year; to what extent will be interesting to monitor.
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Given the circumstances of the increase in volumes we would expect some easing of first-home buyer activity in 2012. However, this will be offset somewhat by the fact that interest rates have fallen and are more likely to ease further than they are to increase.
Overall, we expect a fall in first-home buyer volumes after December 2011. However, over 2012 we expect a greater volume of first-home buyer activity than that recorded in 2011.
 Tim Lawless is research director at <a href="https://www.rpdata.com/" target="_blank">RP Data.</a>
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany.</a>
 
 
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tlawless-5VLUrbAk9s

First-home buyer activity to pick up: Tim Lawless

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As you will appreciate, being able to sleep at night is one of the key objectives for any commercial property investor.
And that's what many property investors refer to as staying below your "threshold of insomnia".
There can be several things that might cause you to lose sleep. One is over-borrowing, and the others are making a poor assessment of the market and the property itself.
Six tips on what you should do:
<ol>
<li>Always maintain sufficient cash reserves in order to cover several months' mortgage repayments — just in case you were to lose a tenant, or the tenant is simply late in paying for some reason.And keep a sharp eye on smaller items like any equipment and maintenance bills, which can quickly add up.</li>
<li>Make sure you have an investment plan you're comfortable with, and then follow it. In other words, set realistic goals and go after them. More goals have been missed through lack of planning than through the plan itself failing.</li>
<li>Get yourself a financial calculator or access to a good software program. And learn to use it to generate a realistic projected cashflow on an after-tax basis.</li>
<li>Always keep yourself up to date with various trends within the marketplace. Make sure you monitor the news and legislation affecting real estate, undertake courses, attend seminars and read books on commercial property. Knowledge will reduce your risks and improve your profits.</li>
<li>Identify and engage a top team of consultants (property, legal, finance, construction, etc). The money you pay them will be more than returned to you through the deals they will help you put together.</li>
<li>Wherever possible ensure your mortgages to not require you to provide a personal guarantee. Always strive to make them non-recourse loans.</li>
</ol>
Six tips on what to avoid:
<ol>
<li>Do not be tempted to invest a large proportion of your funds into speculative investments. They may appear glamorous on the way in, but they are often painful on the way out.</li>
<li>Never do deals on a handshake — always put them in writing, for your own protection.</li>
<li>Avoid entering into joint ventures or partnerships without taking detailed advice from your advisors.</li>
<li>Never commit funds from the sale of one property to finance another until settlement on the first one occurs. Too many "sure deals" have an uncanny habit of coming unstuck.</li>
<li>Avoid mortgages with variable payments. There are too many elements outside your control, such as a sudden surge in interest rates. Ideally, choose a fixed- rate mortgage. But at worst, have a 50/50 split between a fixed-rate and variable-rate mortgage. </li>
<li>Shy away from properties that have substantial negative cash flows (where your expenses considerably exceed your income from the property). The return on equity may be greater, but you can leave yourself rather exposed — much like share traders discovered with their margin calls. Just settle for neutral gearing; and then maximise your depreciation benefits.</li>
<li> </li>
</ol>
Bottom Line: With commercial property investing, always live within your means and reinvest profits. It is far better to be inconspicuously wealthy than ostentatiously poor.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
 
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chrislang-EQKojcgJPV

Six do's and don'ts for commercial property investment

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Mortgage Choice and Smartline mortgage brokers will be able to offer their clients home loan products from Credit Union Australia (CUA) from March 1 following the lender’s decision to return to the third-party distribution market. 
CUA quit the broker space in mid-2008 in the wake of the GFC due to the increasing costs of sourcing mortgage funding. 
Before the GFC, the CUA was an active player in the broker space, writing about 30% of its mortgages via this distribution channel. 
Darrin Northey, CUA’s group general manager for distribution, says the credit union had been looking to re-engage with the broker network for some time. 
He believes the move will help ensure its home loans are even more widely available to customers and available in the same space as products from the major banks. 
“Given around one in four homebuyers seeks out a home loan via a broker, CUA’s re-entry into the network means we will be expanding the reach of our products to a greater potential audience,” he says. 
“We have been planning our re-entry into the broker network for some time and are confident that now is the right time, with the right commercial terms, for us to make that move. 
CUA was one of the few lenders to leave their standard variable rate unchanged in February after the ANZ’s rate rise sparked <a target="_blank" href="/news">most lenders to raise their rates outside of the RBA cycle</a>. 
CUA currently offers a standard variable rate of 6.72%, which is 0.59% lower than the 7.31% offered by NAB, the cheapest of the big four banks.
In its 2011 annual results, CUA revealed it had total assets under management of $9 billion, up $860 million since June last year.
 
 
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lschlesinger-FZcF9M3vE6

CUA to offer home loans via Mortgage Choice and Smartline brokers

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Commercial property REIT Cromwell Property Group will continue with its strategy of investing in high-yield CBD and core fringe offices after its office portfolio helped drive up earnings by 13% for the six-month period to December 31, 2011.
Cromwell reported first half operating earnings of $37.0 million compared with $32.8 million in the first half of 2011, with office property income rising 8% from $43.5 million to $47 million.
The fund has an office portfolio comprising 23 buildings worth $1.73 billion, with a weighted average lease term across the portfolio of 6.3 years and an occupancy rate of 99%.
The vast majority (85%) of the office space in the portfolio is leased to either government or listed companies.
Its highest-earning office asset is Tuggeranong Office Park in the ACT, which contributed $9.5 million income, followed by 700 Collins Street in the Melbourne CBD, which brought in $6.8 million.
Over the course of the six-month reporting period Cromwell acquired North HQ in Fortitude Valley for $186 million and also agreed to terms to re-acquire Bundall Corporate Centre, Gold Coast for $63.4 million.
The Fortitude Valley office building comprises 28,000 square metres of A-grade office space over 11 levels and is fully occupied for the next four years.
Cromwell previously sold the Bundall Centre for $107 million in October 2007 after initially acquiring it for $52.9 million in 2005.
“Since selling the property in 2007 an additional 8,000 square metre office building has been built on the site and it now supports a passing income of $7.4 million, equivalent to a yield of 11.5% on the purchase price,” says Cromwell chief executive officer Paul Weightman.
In his presentation to investors following the release of the results, Weightman says the trust will continue to invest in “high-quality office assets in predominantly CBD / core fringe markets”.
Weightman says the fund will seek assets which offer the “potential for superior returns through active asset management”.
Weightman says Cromwell will continue to build on its record of market outperformance by focusing on assets that offer the potential for superior returns through active management.
In December, Cromwell launched a $49 million equity raising for the new Cromwell Ipswich City Heart Trust (ICH) which owns the land and will fund construction of the $93 million Ipswich City Heart building in Ipswich, Queensland.
The trust is a seven-year single property syndicate that will commence distributions at 7.75% per annum paid monthly and forecast to increase to 8% per annum from July 2013 and 8.25% from July 20142. The trust’s income is underpinned by a pre-commitment from the Queensland government for a 15-year lease over 91% of the building’s net lettable area
Cromwell has also announced a move into wholesale funds management with the launch of Cromwell Real Estate Partners, which will concentrate on delivering superior risk-weighted returns to wholesale investors through opportunistic real estate investment.
“There is now growing demand from many of the more astute wholesale investors for some exposure to higher return property investments, if risk is managed by partners with a strong track record of risk management and project delivery,” Weightman says.
 
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Office portfolio helps Cromwell deliver 13% increase in earnings

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Australia seems to make half-hearted appeals to encourage regional migration.  I say half-hearted because despite “generous” housing grants offered to those who venture out into these comparatively desolate locations, there is little to entice migrants to make the move into neighbourhoods crying out for growth. The expectant short-sighted and stubborn belief that building new housing and granting one-off incentives will have consistent migrational effect is futile, without investing first and foremost into infrastructure, transport, education, health and most importantly jobs. 
These are the only innovations that can open the door to a wider demographic and thereby ease inner-city inflation.  However, all of this comes at a cost, which is hard for governing powers to justify short term, therefore we’re condemned through need – and subsequently desire – to live in metropolitan locations, which are now beginning to strain at the seams. This places a tremendous responsibility on the shoulders of our town planners to get it right, as it’s their job to redesign Australia’s capitals and make the topographical alterations that will bare effect on our cultural progression. If they get it wrong, we can wave goodbye to the yet distinctive allure that sets Australian cities apart.
For the vast majority of buyers (roughly 70% of them according to the stats) purchasing a property is about purchasing a “home” and therefore a “lifestyle”.  So far we’ve been lucky in Australia.  Our cities are the essence of “liveability” – those who haven’t travelled overseas may not think it, however spend some time in the world’s other hotspots such as London, for example, and you’ll soon get tired of the comparatively high levels of crime, traffic congestion, pollution, cold winters, vandalism, unmanageable population, and the modern monstrosities architects have created in order to prove the point.  Australians love travel, but no matter how enjoyable the vacation, it’s rare to hear an Aussie express a strong desire to live elsewhere. Our national anthem says it all: here is always “home”.
For this reason, Melbourne, Sydney, Peth and Adelaide commonly drop into the top 10 of the “world’s most liveable cities” (according to The Economist's yearly survey).  A large part of this is due to our “walkability”. In the inner- and middle-ring metropolitan locations, there’s easy access to transport, schools, parks, and shops. However, this alone doesn’t make us liveable – what truly makes our cities liveable is the interaction we have with the people who share our neighbourhoods.   
This interaction comes in various forms and fosters a valuable sense of community.  Shopping strips lined with small coffee shops and cultural delicacies, corner pubs offering live music, ample parklands, bike paths, museums, sporting events, theatres, festivals, backyard barbecues, conversations over the garden fence, those we meet on an summers evening stroll – the list goes on.  It’s interactions like this that nurture empathy and without getting too detailed, ultimately keep crime rates low and people grounded. However, this cultural interaction is only possible and sustainable because our unique architecture over the decades has evolved to allowed it. Height restrictions, heritage overlays and green bans protecting parkland have all played their part. However, this is now rapidly changing.
I remember Prince Charles daring to speak out over the subject of how “modernists” were ruining the look of England’s cities. He was correct in as much as he shared the majority opinion of local residents struggling to cope with all too wilful destruction of their local communities. London – home to some of the most magnificent architecture in Europe – has largely been destroyed by mountainous glass towers, which disproportionately squash as many citizens as possible into confined square boxes. The bigger the population, the greater the temptation to provide these quick-fix relatively low-cost answers, and the result is a move away from enabling the population to physically and socially meld with their local environment. Quaint rows of terrace houses (holding similar appeal in the UK to some of Australia’s streets, which are lined Victorian and Edwardian terraces) quickly lose their attraction when surrounded by these monstrous constructions and despite various heritage overlays and supposed safeguards, Australia is heading down the same route.
There has been many a discussion in Melbourne over the disastrous development in Docklands.  It was to be one of many golden answers to Melbourne’s shortage of supply. But why hasn’t it worked? Of all the inner-city suburbs in Melbourne, Docklands (along with Southbank) consistently holds the highest vacancy rates and lacks any lasting appeal for home buyers. It’s not just down to the type of housing provided – important oversights were made from the outset such as lack of schooling, parks, trees, open spaces, community centres, pubs and so forth. However, considering the largest demographic living in the neighbourhood are young singles, you would have thought close proximity to city amenities would have quashed any negative effects this oversight caused?  Not so! The most common, encapsulating, comment you’ll hear from unhappy residents is “it lacks soul”. 
There is no diversity of housing stock in Docklands to attract a varying demographic.  The abundance of high-rise accommodation (which I admit has its place in any city and is obviously needed in proportion) fosters no social interaction whatsoever.  Children playing in the street, dogs going for a walk or residents popping down to the milk bar to stock up on essentials – you won’t find these things in Docklands.  Who wants to pop out for a stroll when it involves waiting for a lift that stops at multiple floors on the way down and puts you onto a comparatively deserted street with no perceptible verve or spirit? Had planners envisaged the suburb to involve a “useable” range of accommodation options and community facilities that nurture a wider demographic and subsequently interaction (thus thinking beyond the cost benefit of simply squashing as many people as possible into each small square metre of land), it would have eventually evolved into the success story as planned. However what a tragic (arguably) waste of residential land it’s proven to be.
For a timeless success story in architectural design, you don’t have to look far from home. As any real estate professional will tell you, the housing that attracts the broadest demand from the general population is that which holds period appeal. Although many of these homes at the time of construction were built subject to a strict budget, they engaged with the environment around them enough to maintain their attractive street aspect and keep the localities thriving.  Commonly, the main attraction to buyers of these timeless designs is the rare and opulent period detail, which is now costly to replicate. However at the point of construction, space was just as much an issue to town planners as it is now. These properties weren’t created for backyard barbecues – Victorian terrace housing is essentially the forerunner to the modern townhouse. It was (at the time) a “cheap” space-saving option. However, it maintained a balanced connection and sense of proportion to ensure the community atmosphere continued to thrive. 
For example, the veranda became an extension of the living areas – a place to welcome guests or sit in the shade on a warm summer’s eve.  Then, riding on the back of the industrial revolution, Modernist thinkers of the 1950s arrived and so did what’s often termed “Brutalist architecture” (or “streets in the sky”) – thereon followed a slow but steady demise. The tower blocks – options created by the new mass supply of building materials such as steel and concrete – were intended to be “protective and integrating” for residents, but when developed in abundance (providing accommodation for 150-plus residents), they proved just the reverse. Dark stairwells littered with rubbish, broken-down lifts, high levels of crime – even as design improved, lack of connection with the neighbours was a constant stranglehold on community participation.
Don’t get me wrong; I am not against high-density housing, nor do I have the curse of NIMBYism.  There is as much a place for apartment blocks as there is for the traditional Aussie house in the burbs – but when it’s developed vastly out of proportion with the local surrounds, it’s not conducive to society and there’s a point at which mass development must redirect its focus.
So what to do?  For those sitting behind local government desks, modern towers are the perfect solution to population growth. Like student housing, they have a place. For first-home buyers they’re a stepping stone to something bigger. For a growing population they’re essential. But step over that fine visionary balance and our cities will no longer have the appeal to top the most “liveable”.  The sustainable population debate has no easy answer – or I should probably re-express that as “no cheap answer”. Metropolitan locations will always be favoured by a majority, however we’re selling ourselves short if we don’t make the necessary efforts to unlock regional towns and encourage a broader pattern of growth.
For example, why not force large companies to locate their central offices in the smaller satellite cities that already have a strong established culture? Start to invest seriously into fast transport systems that link regional locations to the major capital cities thereby open up options for buyers.  Give back control to communities and allow local government to do what it’s essentially there to do – listen to the people and respond to residential needs.
All too often our local councils are bullied into submission by overriding federal control that never looks beyond short-term gain. All too often neighbourhood protests are ignored, because squashing more and more residents into a suburb takes a priority.  Australia has tremendous potential to be a lasting “garden of Eden” and envy of the southern hemisphere. No one needs fear population growth if we manage where we grow – however this growth must now move forward with a regional agenda.
Catherine Cashmore is senior buyer advocate, property manager and market analyst for <a href="https://www.elitebuyeradvocates.com.au/">Elite Buyer Advocates</a> and also Channel Ten’s property expert onThe Circle.  With extensive experience in all matters regarding real estate, Elite Buyer Advocates successfully purchases, assesses and negotiates more than $200 million worth of property each year for its clients.
 
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catherinecashmore-6LXia3pPQj

It's time to get serious about encouraging housing in regional areas

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Australia’s big four banks are more profitable and more liquid then they were a year ago, according to the latest banking figures from prudential regulator APRA.
Between September 2010 and September 2011 the combined profit margins of NAB, Commonwealth Bank, Westpac and ANZ have improved from 31% to 35%, the figures show. The major banks' lending books combined are now worth $1.11 trillion, and they added $72 billion worth of new loans in the 12 months to September 2011.
Over the same period the major banks’ ratio of net loans to deposits has fallen from 120% to 115.6% as the bank sector deleverages and improves its cash holdings in line with new global banking requirements. 
Key numbers as of September 2011:
<img src="/images/stories/1point11t.jpg">
The combined mortgage lending books of the major four banks
 
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<img src="/images/stories/1point27t.jpg">
The combined mortgage books of all 56 Australian banks
 
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<img src="/images/stories/87per.jpg">
Major banks’ share of Australian home lending as of September 2011
 
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<img src="/images/stories/72b.jpg">
 
The total new mortgage lending of the major banks over the 12 months to September 2011
<img src="/images/stories/82b.jpg">
The total mortgage lending of all banks over the 12 months to September 2011
 
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<img src="/images/stories/88per.jpg">
Major banks’ share of new home lending over the 12 months to September 2011
 
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<img src="/images/stories/8point4per.jpg">
Growth in mortgage books of major banks over this period
 
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<img src="/images/stories/59point1.jpg">
Home loans as a percentage of all lending down by the banking sector
 
 
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Eight signs major banks are becoming more profitable

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The Richmond headquarters of Australian fashion label Country Road has been listed for sale with a price tag of about $30 million.
The two- and three-storey office complex known as “Building 3” is located at 658 Church Street within the Richmond Corporate Park and was once the former Richmond Power Station, constructed in 1891.
<img src="/images/stories/countryroad2.jpg">
The building is being sold by the Australian Property Growth Fund (APGF), which values it at $29.75 million. Members of the board of APGF include managing director Geoffrey McMahon, a 22-year property industry veteran and non-executive chairman Neil Summerson, current chairman of the Bank of Queensland and former managing partner of Ernst &amp; Young (Queensland).
It was acquired by APFG in 2003 for $23.2 million and is the only asset in its Property Syndicate No. 4.
<img src="/images/stories/countryroad3.jpg">
In the mid-1990s it was extensively refurbished by Metier 3 Architects specifically for Country Road and now features an office space arranged over three interconnected buildings with lofted ceilings, floor-to-ceiling windows and creative open plan fit-outs.
It measures 8,205 square metres (70% of which is tenanted by Country Road until 2014) and sits on more than one hectare (10,276 square metres) of land on an elevated site adjacent to the Monash Freeway and overlooking the Yarra River.
 It includes 228 car spaces allocated between the basement and on-grade areas.
The building currently returns net rent of around $2.71 million per annum.
<img src="/images/stories/countryroad4.jpg">
Recent sales in the corporate car park include lot 2, measuring around 13,500 square metres, which sold for $42 million in April last year and lot 1, measuring 7,064 square metres, which sold to a private investor/developer consortium headed by Bill Boerkamp for $16.75 million in November 2009.
The fully tenanted building is being marketed by Colliers International directors Peter Bremner and Rob Joyes in conjunction with agents Andrew Dawkins and Walter Occhiuto, of Dawkins Occhiuto.
In addition to Country Road, the other tenants are advertising agency Clemenger Harvie Edge and marketing group Mood Media, while other companies based in the office park include the Just Group, Mattel, Pacific Brands and Hardie Grant.
<img src="/images/stories/countryroad5.jpg">
Bremner says the office building represented an outstanding opportunity for high net worth private investors, syndicators, fund managers or future owner-occupiers.
“This property offers the chance for low-risk investment, with the building being 100% leased to long-standing established tenants,” he says.
Andrew Dawkins says the “solid fundamentals of the Richmond market” should appeal to buyers.
“Richmond has a tight vacancy rate of less than 5% and is home to many companies involved in the fashion, marketing, advertising and publishing industries,” he says.
The property is for sale by expressions of interest closing Thursday March 15, 2012 at 4pm.
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Property fund seeking $30 million for Melbourne Country Road headquarters 

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The proportion of people that feel satisfied when they refinance their mortgage has picked up recently but is still tracking well below satisfaction levels before the GFC, according to research compiled by the Mortgage and Finance Association of Australia (MFAA).
In September 2011, two months before the RBA introduced the first of its two rate cuts in November and December, research by MFAA shows that just under two-thirds (65%) of those who refinanced their mortgage were satisfied with the outcome.
This was up on the 53% satisfaction rating in May 2011 but well below the high of just under 80% who said they were satisfied in November 2008 – a period when the RBA was cutting rates by as much as 1% a month as the financial crisis deepened.
Click to enlarge
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The proportion of people that feel satisfied when they refinance their mortgage has picked up recently but is still tracking well below satisfaction levels before the GFC, according to research compiled by the Mortgage and Finance Association of Australia (MFAA).
In September 2011, two months before the RBA introduced the first of its two rate cuts in November and December, research by MFAA shows that just under two-thirds (65%) of those who refinanced their mortgage were satisfied with the outcome.
This was up on the 53% satisfaction rating in May 2011 but well below the high of just under 80% who said they were satisfied in November 2008 – a period when the RBA was cutting rates by as much as 1% a month as the financial crisis deepened. 
However, since then the percentage of borrowers satisfied with their refinancing decision has fallen steadily.
MFAA chief executive Phil Naylor says if one looks beyond the timeline of the chart to 2004, the percentage of borrowers satisfied was close to 90%.
According to Naylor, one of the reasons for this decline would be that there were more lenders on the market between 2004 and 2007.
“Non-bank lenders were still in the market and there were genuine choices as were you could go to refinance,” he says.
Naylor says the golden rule of refinancing is “you must be better off”.
For more expert tips on refinancing your mortgage download Property Observer’s free ebook: <a href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage" target="_blank">12 tips for refinancing your mortgage</a>.
 
 
 
 
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More borrowers refinancing, but they’re not happy about it: MFAA

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Housing affordability improved by 2.2% over the December 2011 quarter, rising to just below levels last seen in December 2009, according to the latest HIA-Commonwealth Bank Housing Affordability Index. 
The overall index rose from 57.2 to 58.5, the fourth consecutive quarter (since March 2011) that housing affordability has improved. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/hiafeb27.gif"><img src="/images/stories/hiafeb27thumb.gif"></a>
The improvement in housing affordability was led by a 7.9% gain in Brisbane, followed by Canberra (6.1%), Melbourne (4.6%), Perth (4.1%), Sydney (3.5%) and Hobart (3.1%).
Adelaide was the only capital city to buck the trend, with housing affordability declining by 3.6% over the quarter.
Sydney continues to have the highest required monthly loan repayments ($3,635) among capital cities, while in the non-metro regions, WA repayments are the highest ($2,843).
The two RBA rate cuts in November and December were the primary reason affordability improved, with average interest rates falling from 7.05% to 6.8% and monthly mortgage repayments dropping from $3,007 to $2,955 despite the median dwelling price rising from $470,600 to $473,000.
Outside of the capital cities, affordability improved in New South Wales (up by 0.5%), Victoria (up by 7.8%), and Tasmania (up by 0.3%).
Non-metro affordability declined in Queensland (down by 0.1%), South Australia (down by 2%), and Western Australia (down by 5.5%).
“A decrease in mortgage lending rates and continued earnings growth more than offset a modest increase in the median dwelling price to further improve housing affordability in the December 2011 quarter,” says HIA’s senior economist Andrew Harvey.
“As expected, the interest rate cuts in November and December of last year saw housing affordability continue to trend in the right direction. When the recent improvements in affordability are considered alongside the easier access to skilled trades as home building activity has eased, it increasingly looks like a good time to buy a new home for those financially able to do so,” he says.
In the most recent quarter average weekly ordinary time earnings posted growth of 0.5% and mortgage lending rates were down by 0.25%.
Meanwhile, home prices rose by 0.5% in the December quarter although they were down by 1.8% over the year.
 
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Housing affordability at near two-year high, led by Brisbane gains: HIA

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One of my favourite investment philosophies comes from a statement made by the great Warren Buffett that states, “Be fearful when others are greedy and greedy when others are fearful”. 
Typically, when the residential property market has been riding high and strong, many amateur investors and buyers for primary residence follow the herd with hopes not to miss out on the buying frenzy. It feels absolutely safe and normal to buy when everyone is buying, the timing seems just perfect. Do people ever stop to consider whether prices are inflated with such a growing increase in demand – is the market timing really that perfect? 
Last year proved to be a very interesting year for the real estate market across Sydney. There was a general lack of uncertainty floating in the air, which over time became uncomfortable. There was constant speculation of the world ending and the Sydney market collapsing.
This ultimately created a general lack of confidence, which affected the real estate market dramatically. This all in hindsight lead to a significant decrease in buyer activity and demand. All of a sudden, people were reluctant to buy as it did not feel safe to play ball in a market that was no longer competitive.
It was fascinating, while the market was dropping in value, in several eastern suburbs areas between 10% and 20%, it was like people in a position to buy were waiting for the herd to return to give them back their boost of confidence. It was the savvy buyers who became greedy and could sense the fear that were able to capitalise on the excellent buying opportunities. 
This year presents an exciting year with great opportunity for property buyers. It appears buyers again are sitting in the front seat with more control. 
Is it the year to become greedy or are you going to follow the herd?
Ben Handler is a Sydney-based entrepreneur. Ben is the co-founder and director of <a href="https://www.chbuyersagents.com.au/" target="_blank">CohenHandler</a> - an exclusive buyers agency in Double Bay, Sydney. CohenHandler is one of Sydney's leading buyers' agencies since inception only two years ago. Ben is a buyer specialist in the eastern suburbs, being involved in residential transactions up to $15 million.
 
 
 
 
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