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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 controversy over troubled shopping centre group DFO continues, after a Victorian Supreme Court justice on Tuesday decided business partners of the company's two former owners David Goldberger and David Wieland could launch a legal case against them. 
The decision comes after months of complicated legal battles and financial tussles over the business, which has resulted in a number of court cases and has even involved the former chairman of the Australian Competition and Consumer Commission, Graeme Samuel.
Supreme Court Justice Jennifer Davies ruled yesterday that the business partners of David Wieland and David Goldberger could launch a legal case against the two millionaires.
The case revolves around a $14 million emergency line of credit used by DFO developer Austexx to construct the company's South Wharf facility.
The two Davids were former directors of Austexx. The case is brought against them by Texxcon, a subsidiary of Melbourne-based construction and engineering firm Contexx.
According to Texxcon, Austexx borrowed $14 million from a joint venture company called Nominexx. That funding was to be used after a separate funding line had been dried up.
However, Texxcon claims this loan was not repaid, and that Austexx has engaged in misleading and deceptive conduct.
While both Davids and DFO manager Geoff Porz were able to stop Nominexx from suing the company – due to their presence on the board – Justice Davies has given Texxcon representatives permission to sue.
Texxcon claims Wieland, Goldberger and Porz breached their directors' duties by saying Austexx could pay back the money, although all three have denied this is the case.
Both Wieland and Goldberger slipped off the BRW Rich 200 list last year after Austexx went close to collapse and was forced to sell assets to reduce a $1 billion debt.
Separately, a property development company called Verticon in which the two Davids were major shareholders was placed in administration last year.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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pmcstafford-pr9eMARWoN

Court gives former business partners the right to pursue $14 million claim against DFO founders 

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I think it is fair to assume that for many borrowers, gone are the days when a 20-year mortgage is kept for the full term without some kind of alternation or refinancing taking place. 
A lot can happen over the life of a loan – in the last 20 years for instance changes have occurred including market reform, fluctuating interest rates, changing regulations, the emergence of new lenders and both the tightening and weakening of lending criteria, to name just a few. 
Thus, for many borrowers, the environment in which their mortgage was first acquired no longer exists or is vastly different, and it is likely that the original loan product obtained may not be appropriate nor the most cost-effective option for current conditions and personal circumstances. 
It is for this reason that it can be incredibly valuable for borrowers to establish an ongoing, working relationship with a mortgage broker, similar to that which may be enjoyed with a financial advisor or other professional consultant. 
By keeping in touch with a trusted mortgage expert borrowers can position themselves to ensure that they remain abreast of developments in the home loans market, and can act on fortuitous opportunities, such as to refinance or expand a portfolio, as they arise. 
I have seen many borrowers discount or even disregard the value that working to maintain such a relationship with a broker can achieve for them.  As a result these people will only have contact with their mortgage consultant periodically when their broker contacts them to make sure all is well. 
It is true that most professional brokers, if they are doing their job properly, will certainly be keeping an eye on their clients’ situations and those who are proactive will let their clients know about new opportunities to refinance or add value. 
However, if these interactions were not being initiated on the part of the broker, I am inclined to suspect that many borrowers would sit on their current mortgage without periodically investigating the newly available options – and potentially miss out on valuable cost savings as a result. 
In my experience, borrowers who maintain a working relationship with their mortgage brokers are at a big advantage, particularly as to do so doesn’t necessarily require a great deal of time.  While yes, it is reasonable to expect that your broker contacts you when attractive opportunities arise, don’t discount the value in taking steps to keep yourself front of mind for the broker so that you are the first client contacted when, for example, lenders release new packages, regulations change, or lending criteria alters in your favour. 
Often this requires only a coffee or lunch every now and then to catch up with your mortgage broker and have a chat about general market conditions and happenings, as well as your personal objectives and plans. 
The information that can be gained from such meetings is often invaluable, as you might find yourself privy to your broker’s concerns and insights into the current mortgage market – which could lead to further opportunities to invest or expand your portfolio. 
In addition, with more of an idea as to your property intentions and what you are comfortable with, your broker will be better placed to evaluate new mortgage options on your behalf. 
As a natural by-product of your effort and hospitality, you may just find that a working relationship with your broker is formed, whereby he or she is naturally more inclined to look out for your interests and alert you to valuable new opportunities as (or even before) they arise – putting you well ahead of other players and potentially saving you precious funds that can be directed to paying off your mortgage more quickly. 
There is no doubt that the home loans market can be a complex place to navigate, particularly for those property buyers who have not had a great deal of experience.  Dedicating some time to developing a relationship with a trusted mortgage broker can help you to make sure that you have an experienced professional watching out for your best interests – ensuring you make valuable savings where possible and have the most effective mortgage package available.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a> 
 
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ctarbey-W47GL9jwxa

Maximise your relationship with your mortgage broker

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Ever walked down the street and thought, ”Yes, I really like that house” or “Yikes! That house does nothing for me!”?
At the very first glance of a property we instantly form an impression.   It is human nature to judge a book by its cover.
You'll never get a second chance to make a great first impression. You may have heard that people will form an impression of you, your character, your personality — an impression that is nearly indelible — all within the first 60 seconds of meeting you.  But wait – recent reports say now it could take as little time as a blink of the eye!
It may take just a 10th of a second to form an impression of a stranger from their face, but objects are categorised as soon as they are perceived. That really leaves nothing to chance.
Try this: stand on the opposite side of the street from a property and turn your back to it, then turn around to face it for a few seconds and turn away again.  Anything that caught your eye in that time should be neutralised or removed.  Perhaps there was an over-grown bush, a bright coloured balustrade, a broken window awning. If you noticed anything that did not bring you a good feeling then the property hasn’t given you a good first impression.
While it’s pretty important to like a house if you are living in it, it’s equally important for your tenants to like where they live, too.  When developing property for our clients, we want a great first impression. When it comes down to it, we are creating a dream, for our client as investors but also for their tenants so they look after the property and stay a long time.
Once you find a development site, you should move quickly to the design phase. Ensure your design blends in well with the local surroundings.  Look at direct neighbouring properties and what materials they are made of and look at the best property in the street (based on the highest sale price) and see what it is made of.  While you should be conscious of not over-capitalising, you still want to stand out in the street so your development will be noticed.
Today there is so much choice when choosing exteriors for the new dwellings that there’s really no excuse to produce a boring front façade. Street presence is what house facades are all about.  It can be a little overwhelming to start with. Do you go with metal roofing or concrete tiles? Do you choose a face brick or go for the clean rendered look?  Should you combine weatherboard cladding with other materials? Obviously your budget may dictate some choices.
When looking at exterior colours for your project consider this:
<ul>
<li>The roof represents around 30% of the total look;</li>
<li>The walls are roughly 60%; and</li>
<li>The fascias and guttering represent about 10%</li>
</ul>
 The exterior of even a low budget development can be maximised. Here are a few suggestions to discuss with your architect:
<ul>
<li>Use a combination of finishes – perhaps some rendered walls combined with face brick or other elements such as lightweight cladding or stacked stone (depending on location and budget).</li>
<li>Another finish making a big comeback is external panelling. There are products we use that look like weatherboard but are actually a lightweight fibre cement panel – its low maintenance and rot resistant.</li>
<li>Use contrasting brick work – two different face bricks.  It won’t cost any more as long as both bricks are within the builder’s range.</li>
<li>The mathematical precision of brickwork can be emphasised by using a contrasting mortar to the brick colour, i.e. for dark brick, use a white mortar. Or using a light-coloured brick with flush mortar joint finish in a matching colour will give the impression of a large single-coloured area similar to a rendered surface. I call this the “poor man’s render look”.</li>
<li>Feature columns – we’re not talking Julius Caesar-style, but contrasting brick or bagged columns to the front can add some interest.</li>
<li>Bagging is a lighter form of rendering that isn’t straight with perfect angles. It allows for the slight imperfections to be seen but can look just as good on the right property and is much cheaper.</li>
<li>Timber inserts to gables – A gable is the triangle formed by a sloping roof.  Rather than just paint it, you can use timber, aluminium panels or even Colourbond cladding.</li>
</ul>
If you really do want to make a “statement”, remember the garden planting you put along your facade is another opportunity, and probably contributes just as much to the street impact. And the good news is, when you grow tired of a garden bed, it’s much easier to change about than the front of a home.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
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jochivers-wq5Bp59R5a

Streetside first impressions count in property

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So how have we started 2012? In a word, quietly.
By any previous year’s measurement, 2012 has been pretty quiet out of the blocks – except for agent claims of numbers through opens.
<ol>
<li style="line-height: 17px;">Only a handful of $3 million-plus buys</li>
<li style="line-height: 17px;">Little new stock of high calibre at this price level came onto the market in February. This is particularly so in the inner east. March may turn out to be different from what we are hearing and seeing pre-market with a number of sellers keen to get a result prior to our early April Easter. But that is conjecture until we see March new stock numbers confirmed.</li>
<li style="line-height: 17px;">When the market is quiet, agent turnover drops and so do agents’ incomes; unrest builds and the merry-go-round begins. During late 2011 and early 2012 agent coffee shop meetings have been up.</li>
</ol>
So yes, the market still seems a little quiet, but it’s not that bad. It’s pretty much as expected, and this weekend went as well as a selling agent could have hoped for.
What of the claimed increase numbers at open for inspections? We actually support this premise and the implication that demand may be stronger than the results show.  Our enquiry numbers are up and the number of clients looking for homes is also up on this time last year, even if we’ve seen little change in the number of clients in actual negotiation this year compared to last. Result-wise we also started OK, with buys in Fitzroy, Glen Iris and Brighton in the $1 million, $2 million and $3 million price bracket in early February. 
On the auction scene, overall demand was not too awful. At 6.pm Saturday, the James Clearance Rate for million-dollar-plus properties in the inner east and bayside was 58% on the 31 auctions we attended. The Weekly Review Bidderman, our demand indicator, began the year at 1.5 bidders per auction.
Last weekend’s numbers were low, at just over 50 in that million-plus bracket. But next weekend will have well over 100, a solid number. And we’ll see a similar number on March 3 before we have a significant drop on March 10 due to the Labour Day weekend.
Market wrap-up
<ul>
<li>Overall the market appeared weaker on early results, i.e. under the hammer. As the day wore on though, and pass-ins were cleaned up, the indications were that the market seems to have started as well as could be expected. But it’s too soon to say it’s a clear positive trend.</li>
<li>Stock levels on offer were low in number, in quality and in dollar value. Only two auctions had results over $3 million – one sold and one didn’t. So it’s still a bit foggy to us.</li>
<li>A number of pass-ins were cleaned up post auction – meaning a lot of the action was not visible this weekend.</li>
<li>The phenomenon that became very evident late in 2011 has continued in 2012. This weekend we counted 46 bidders at 31 auctions – so there is demand out there. But there was no evenness: five auctions had 50% of the bidders averaging almost five bidders per auction and the other 26 auctions averaged just under one bidder per auction.</li>
</ul>
‘Round the grounds: Bayside – Low levels and mostly unexciting stock, so 56% is an even result. Boroondara – Actually that’s pretty impressive first up – 83% clearance. Stonnington – Solid start on low numbers  – 75% clearance Port Phillip – Whoops – somebody forgot to tell the buyers auctions had started again – 20%
Market summary – year to date 2012
Last year was a year of generally falling prices – with the exceptions of the months of May, September and December. Yes, we finished the year off OK, but it was more a case or arresting the fall rather than any lighting of price rockets.
Last year we saw drops in market values on homes that started too high on price, with owners that then had to sell. This was particularly the case with properties that were of inferior quality or in poor positions. In many cases these drops were 20% and more off the Anzac Day 2010 high. A lot of that fall in value happened in the last quarter of 2011.
On the subject of price falls: some organisations are spruiking median price increases in the last quarter of last year as real stats, which only proves that there are dope tests that can have false positives. The market did have some strong results in December but overall it was a negative second half for many sellers (in terms of lower selling prices or not selling at all).
 
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Melbourne's top-end property market starts the year quietly

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The median house price in Mornington and surrounds, according to Residex. This is up 0.7% on the previous year.
 
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The median house price in Geelong and surrounds, according to Residex. This is up 6.3% on the previous year.
 
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The median house price in Berwick, according to Residex. This is up 7.1% on the previous year.
 
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The median house price in Castlemaine, according to Residex. This is up 5.4% on the previous year.
 
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The median house price in Warrnambool, according to Residex. This is up 1.2% on the previous year.
 
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The median house price in Bendigo, according to Residex. This is up 6.6% on the previous year.
 
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The median house price in Wodonga, according to Residex. This is up 6% on the previous year.
 
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The median house price in Moe, according to Residex. This is up 4.6% on the previous year.
 
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The median house price in Shepparton, according to Residex. This is up 6.2% on the previous year.
 
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The median house price in Portland, according to Residex. This is up 5.4% on the previous year.
 
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The median house price in Mildura, according to Residex. This is up 3.9% on the previous year.
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Mornington pips Geelong in regional house prices: Residex - 12 localities from dearest to cheapest

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The following are the January median house prices for 16 regions across New South Wales:
<img src="/images/stories/416000.gif">
The median house price in Wollongong, according to Residex. This is up 3% on the previous year.
 
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The median house price in the Blue Mountains, according to Residex. This is down 0.2% on the previous year.
 
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The median house price in Newcastle, according to Residex. This is about the same as the previous year.
 
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The median house price in Penrith Windsor, according to Residex. This is up 3.3% on the previous year.
 
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The median house price in Southern, according to Residex. This is up 1.9% on the previous year.
 
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The median house price in the Central Coast, according to Residex. This is down 1.1% on the previous year.
 
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The median house price in the North Coast, according to Residex. This is down 3.9% on the previous year.
 
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The median house price in the South Coast, according to Residex. This is down 3.7% on the previous year.
 
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The median house price in the Hunter Valley, according to Residex. This is down 3.7% on the previous year.
 
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The median house price in Bathurst Orange, according to Residex. This is up 2.2% on the previous year.
 
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The median house price in Mudgee District, according to Residex. This is up 2% on the previous year.
 
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The median house price in New England, according to Residex. This is down 1.4% on the previous year.
 
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The median house price in Riverina, according to Residex. This is down 4.4% on the previous year.
 
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The median house price in Dubbo and North West, according to Residex. This is up 2.2% on the previous year.
 
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The median house price in Western New South Wales, according to Residex. This is up 2.2% on the previous year.
 
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Wollongong pips Newcastle in regional house prices: Residex - 16 localities from dearest to cheapest

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The sale of one property and the withdrawal from the market of a second have made way for two new entrants onto SQM Research's top 10 most discounted properties list. 
The property at 102 Fountain Road, Burpengary has been withdrawn from the market unsold. It made its debut in the number-three spot on SQM's most discounted properties list <a href="https://www.propertyobserver.com.au/hotspots/horse-stud-discounted-by-42-in-five-months-on-sqm-discount-list/2011090651455" target="_blank">in September 2011</a>, when its price hopes were cut from $1.2 million to $600,000.
SQM Research director Louis Christopher noted at the time that it made its debut with a discount of over $500,000 in the space of five months.
"The vendors of this property, which was a former horse stud, featuring attributes such as an in-ground pool, ducted air-conditioning, stables and feed shed, billiard room with built-in bar and 1.5kw solar panels, are most likely struggling to find a suitable buyer for a home with such niche characteristics,” Christopher said.
The property has now been withdrawn from sale after being marketed by Coronis Real Estate agents since April 2011. Most recent listing agent Mark Pickles says the vendors were unwilling to discount the property any further and were unable to secure a buyer.
The number nine and 10 spots are now taken up by two hinterland properties, 13 Hawcroft Place in the WA town of Lancelin and 1302 Birkdale Place in Magenta, on the NSW central coast.
The Magenta property has featured on SQM's list of properties that have been on the market the longest, appearing<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-central-coast-dominates-top-10-longest-property-listings/2011080251010"> at number seven on in August 2011</a>. At the time the property's price hopes had been reduced from an initial $700,000 to $500,000, a reduction of 29%. It had been on the market 1,131 days.
In November 2011 its price hopes were slashed again to $450,000, or a 36% discount. It is currently offered at $450,000, and it has been on the market more than three years. 
1
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">60 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a> 
On the market since: October 3, 2010
Initial asking price: $349,000
Current asking price: $185,000
Reduction: 47%
Days on market: 496
 
 
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016" target="_blank">92 Beelong Street, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 629
 
3
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">121 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a>
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 476
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 609
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 483
 
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<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106364068" target="_blank">22 Fenton Avenue, Christies Beach, SA, 5165</a>
On the market since: March 6,  2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 707
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,348
 
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<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 777
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107358501">13 Hawcroft Place, Lancelin, WA, 6044</a> (pictured)
On the market since: April 30, 2011
Initial asking price: $1.49 million
Current asking price: $949,000
Reduction: 36%
Days on market: 287
 
 
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<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,334
 
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SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia</a> for sale.
 
 
 
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A sale and a withdrawal make room for two new properties on SQM's most discounted list

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Strong population growth, interest rates remaining at historically low level, “fierce competition between lenders” and low unemployment are some of the tailwinds that could prolong the recovery in the mortgage lending and housing market in 2012, according to Mortgage Choice CEO Michael Russell.
“Over the course of the calendar year, we’d like to see the market continue to rebound and there are reasonably strong tailwinds to suggest it just may,” Russell said following the release of “solid” interim results to December.
Mortgage Choice reported a 16.7% increase in loan approvals over the six-month period from $4.8 billion to $5.6 billion, with the mortgage broking franchise’s share of the home loan market rising from 4.1% to 4.5% over the six-month period, its highest level since 2006.
“The good news was the rebound in housing finance [over this reporting period] with December a particurlarly strong month with the highest value of commitments in two years,” says Russell.
“This auger well for housing finance market and all participants within it.”
However, he also noted a number of headwinds that could curtail the recovery, including the unpredictably created in the minds of consumers by the major banks moving rates outside of the RBA (“the new normal”), funding costs impacting lenders, the continued uncertainty in Europe, ongoing housing undersupply issues and consumers continuing to deleverage their debt and save more.
Despite the increased competition in lending Russell said attempts by the federal government to create a “fifth pillar” (through measures such as the ban on exit fees) outside of the big four banks had failed, with the smaller non-bank lenders and credit unions still struggling to penetrate the market.
The big four banks accounted for 60% of all loans approved by Mortgage Choice over the six-month period, unchanged since previous periods, with ANZ and the Commonwealth Bank accounting for 43% or more than two out of every Mortgage Choice loan approved.
Including big four bank subsidiaries Bankwest and St George, the major banks’ share of Mortgage Choice approvals stands at 76%.
Russell says non-banks and credit unions are struggling with higher funding costs than the major banks though many of them continue to offer cheaper rates then the major banks.
“It may be an issue of perceived flight to quality,” he says.
Taking a look at the bottom line, Mortgage Choice reported profits of $6.4 million for the six months to December 31, down 26% on the $8.8 million recorded in the previous six-month period to June 30 2011.
The drop in profit was attributed to higher operating expenses and lower-than-expected revenue from comparison website helpmechoose.com.au. The website made a $1 million loss for the six-month period.
Russell says the group has put in the necessary measures to remedy the results being achieved through the online venture and expects it to become profitable when full-year results are reported in mid-2012.
The group’s total loan book written by brokers in its franchise network and through aggregation arm LoanKit was up 5.6% to $43.5 billion.
Mortgage Choice grew the number of brokers in Loankit by 20% to 234 over the six-month period, with the business recording monthly settlements in excess of $100 million.
The group has 372 franchises (up from 354 a year ago), with the biggest proportion in NSW (134).
Settlements per loan consultant increased from 28 to 32.
Mortgage Choice brokers earned a collective $68 million in commission payments for originating loans, unchanged from the same six-month period in 2010.
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lschlesinger-FZcF9M3vE6

Economic tailwinds could prolong mortgage lending recovery: Mortgage Choice 

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The Reserve Bank has acknowledged the need for the major banks to raise interest rates outside of the official rate cycle due to the higher price they have paid recently for covered bonds.
Released after the major banks all pushed up their variable mortgage rates by between 0.06% and 0.1%, the minutes acknowledged the higher price the banks paid for funding.
The Commonwealth Bank and Westpac were forced to pay a higher price for $6.6 billion worth of covered bonds in mid-January.
The two banks were forced to pay 175 basis points and 165 basis points respectively over the benchmark swap rate.
“The Australian banks had issued sizeable amounts of covered bonds in a number of offshore markets in recent weeks at these higher spreads,” the RBA February minutes say.
“Furthermore, the cost of swapping funds raised in offshore markets into Australian dollars had increased in recent months.
“There had also been two large issues of covered bonds in the Australian market, which had repriced the local bank debt curve significantly higher.
“Over the same period, Australian banks continued to compete actively for deposits, which resulted in the reductions in most deposit rates not fully matching the recent reductions in the cash rate.
“Collectively, these developments had increased banks’ overall cost of funding relative to the cash rate and had narrowed the difference between banks’ lending rates and funding costs.”
However, the higher funding costs have been dismissed by analysts from investment bank Societé Generale.
“Our calculations suggest that almost all sources of funding of Australian banks except long-term overseas are cheaper than their post-GFC highs and have kept falling since the second half of 2011 in absolute terms,” the bank says.
ANZ has hit back at this report, telling The Australian Societé Generale makes the simple mistake of analysing absolute funding costs, rather than the funding costs relative to the official cash rate.
“We agree that absolute funding costs have been falling, but relative to the official cash rate they have increase.”
Yellow Brick Road founder Mark Bouris agrees that funding costs for new lending have risen but says the game is about “averaging and smoothing out your costs, not just passing them on to your customers”.
 
 
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RBA acknowledges banks' higher funding costs

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Hotel giant Hyatt Hotels Corporation has blocked an attempt by billionaire Clive Palmer to remove it as the manager of the Coolum resort on the Sunshine Coast, after Palmer accused Hyatt of poor management and siphoning $60 million in funds from the resort over the past 20 years. 
Hyatt took Palmer to the Brisbane Supreme Court yesterday after Palmer had announced he had dumped the company as the manager of the resort, removing its signage and sacking Hyatt's general manager, Maurice Holland.
Hyatt argued that Palmer had breached the contract between the two by trying to remove it as resort manager and by sacking the general manager.
Palmer represented himself in court, and told Justice Glenn Martin that the resort could still be run without Hyatt, and that the general manager, Maurice Holland, was sacked in the resort's best interests in mind.
While Palmer threatened to close the resort if the injunction was granted, Martin granted it anyway.
"(I'm satisfied) there will be sufficient funds... to cover the short-term of the injunction I propose and secondly, the defendants good corporate citizens will not abuse their position if an injunction is granted for such a short period."
Martin said the injunction would protect Hyatt's reputation, get Holland his job back and protect the interests of those who own villas within the resort.
The case will return to court on March 1.
The action came after Palmer released a statement yesterday saying the company had been siphoning $60 million in funds over the past two decades "back to their headquarters in Chicago and there has been a major cover-up of these activities".
"We have uncovered this activity since taking over the resort last year. This should be of concern to the operators of other Hyatt resorts around Australia and worldwide. The Hyatt hasn't given the property the priority it deserves. The Hyatt Group doesn't even have a full-time employee in Queensland and we believe they are not even represented in Australia."
Hyatt's lawyers said in court that the allegation was false.
Palmer, who bought the resort in July of last year, said that despite Hyatt running the resort for over 20 years, "it has just led to millions of dollars in losses to the owners". He also commented he was surprised to learn staff were never paid bonuses.
The move comes just a day after Palmer threatened the Football Federation of Australia with court action if it tried to take away his licence – the billionaire has garnered a reputation for himself in the sport, sacking players and making controversial comments about the state of the game.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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