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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Channel Nine’s The Block will compete with Channel Ten’s The Renovators as well as 21 other reality television shows for the title of best reality program at this year’s Logie Awards.
In terms of viewer numbers The Block was a much more successful show drawing 3 million viewers to its series final while The Renovators managed just 1.26 million.
In the category of most popular factual program the Real Estate Institute of Victoria (REIV)-backed <a href="https://melbournepropertytv.com/MPTV/index" target="_blank">Melbourne Property TV</a>, which runs on Channel 31 is nominated alongside Channel Nine’s Hot Property show, hosted by The Castle’s Michael Caton.
In the lifestyle program category, three popular property shows are competing for the title, these being Channel 7’s Better Homes and Gardens and two Lifestyle Channel shows Relocation, Relocation Australia and Selling Houses Australia Extreme.
You can vote for your favourite property show of the year at the <a href="https://surveys.asteroid.com.au/bvbin/bvgate.exe?noj=1&amp;sid=917190" target="_blank">TV Week’s 2012 Logie Awards site.</a> Voting closes Sunday.
The 2012 Logie Awards will take place in Melbourne on Sunday, April 15.
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The Block and The Renovators to square off, and Channel 31's Melbourne Property TV hopes to get a Logies look-in 

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<a href="https://www.rs.realestate.com.au/cgi-bin/rsearch?a=ars&amp;s=act" target="_blank">Click here </a>for the latest auction results for Canberra by RP Data for realestate.com.au. Click on each street address to see the property's marketing.
 
 
 
 
 
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Canberra auction results: RP Data

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56/12 Wylde Street, Potts Point, NSW, 2011
<img src="/images/stories/wyldest.jpg" style="border-style: initial; border-color: initial;">
This one-bedroom apartment with harbour views has the potential to rent for $585 per week, according to <a target="_blank" href="https://www.raywhite.com/nsw/potts-point/723973/">Ray White Elizabeth Bay</a> agents Nick Harrington and Mike Cotton-Stapleton, who marketed the property. The 54-square-metre apartment on the fourth floor includes a balcony and an internal laundry. It sold at auction on Thursday, February 16 for $502,000. If it is rented out at $585 per week, that would secure a gross rental yield of 6.1%, higher than the indicative gross rental yield for Potts Point units of 5.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The strata levies for this property are $823 per quarter, the water levies are $144 per quarter and the coucnil rates are $188 per quarter. 
Cotton-Stapleton and Harrington provided details of comparable sales, including the apartment at 16/4 Macleay Street, Potts Point, which sold for $500,000 in December 2011, and the apartment at 8/108 Victoria Street, Potts Point, which sold for $540,000 in September 2011. 
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000 for the Wylde Street property.
The median price for Potts Point units went up 10.5% in the past year, according to RP Data.
For more information about yields and prices in Potts Points, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
<hr class="system-pagebreak">
 
518 Smithfield Road, Prairiewood, NSW, 2176
<img src="/images/stories/smithfieldrd.jpg" style="border-style: initial; border-color: initial;"> 
The tenants of this three-bedroom Prairiewood house are paying $1,600 per month and are on an expired lease. The property sold at auction on Thursday, February 16 for $483,000, and there were three bidders. It would secure an investors a gross rental yield of 4%, below the indicative gross rental yield for Prairiewood houses of 5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Before auction Ray White listing agent Graham Ball was marketing it with price hopes of $450,000 plus, and he does not know whether the buyer is an investor.  <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000. The property is on a large block of 1,248 square metres and is close to schools and transport.
For more information about yields and prices in Prairiewood, see the RP Data suburb page.
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Investor Form Guide Wrap: Potential rental yield of 6.1% in Potts Point

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The future of mortgage broking franchise Refund Home Loans and its 300 franchisees remain undecided five months after it collapsed as receivers remain quiet on a possible sale of the business.

An industry source told Property Observer current franchisees were growing increasingly frustrated at the lack of information from the administrator as they hold out for a possible sale.

It is understood that a group of franchisees who had expressed interest in buying the business have now backed out of a management buyout.

Property Observer has put in numerous calls to administrators SV Partners, but has not received any response.

In January it was reported that three businesses had submitted expressions of interest in Refund Home Loans, with Broker News naming one of the suitors as non-bank lender Liberty Financial.

A spokesperson for Liberty Financial said it did not comment on market speculation.

As a lender on Refund Home Loan’s mortgage panel, Liberty Financial would have good knowledge of the business.

Refund has a network of 300 brokers and would provide an instant distribution arm to a non-bank lender, but is unlikely to be appetising to a major lender because of its controversial business model.

As a result of the expressions of interest the court granted SV Partners an extension until March to secure a buyer or wind up the business.

Both Channel Nine’s A Current Affair and Channel Seven’s Today Tonight have run exposés about the collapse of Refund Home Loans.

Speaking on condition of anonymity, a creditor told Property Observer the exposés, particurlarly the more attacking one by ACA, might reduce the sale price of the business.

Today Tonight ran two stories, both including interviews with Ormond and portraying his personal loss (including having to sell his $500,000 Bentley) and featuring support from former Wheel of Fortune host John Burgess.

Refund Home Loans head office in Brisbane says Wayne Ormond has parted ways with the business.

Attempts to reach Ormond via his <a href="https://www.wayneormond.com.au/" target="_blank">personal website</a> have proved unsuccessful. The phone number on the site no longer works.



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Refund Home Loans franchisees wait for any news of possible sale

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ANZ, the first lender to raise interest rates this month, has become the last of the big four banks to report profit figures.
The bank reported a 5.7% increase in quarterly cash profits to $1.48 billion for the three months ending December 31.
National Australia Bank reported quarterly profit of $1.4 billion while Westpac reported quarterly profits of $1.5 billion.
Commonwealth Bank, which financial year runs to June, <a href="https://www.propertyobserver.com.au/economy/cba-announces-interim-profits-of-%243.6-billion-but-highlights-drop-in-loan-profit-margins/2012021553394" target="_blank">reported six-month profits of $3.57 billion</a>.
Chief executive Mike Smith says the environment for international banking had become significantly more challenging
Smith says funding cost across the Australian business increased by nine basis points over the second half of the year – ANZ raised its interest rates by six basis points last week as part of it independent review, the first of the major banks to lift its rates.
According to RateCity.com.au CEO Damian Smith the rate increase will add an extra $2.36 million in interest revenue per month for ANZ or $28.3 million per year.
The bank has also announced that it will axe 1,000 jobs this year.
“The environment for banking internationally has become significantly more challenging following the first phase of the global financial crisis,” says Smith. 
“Bank funding costs are continuing to rise as the deepening economic and financial crisis in Europe causes dislocation and volatility in global markets although prospects are brighter in the United States”. 
“There will not be a return to the level of credit growth that banks experienced pre-crisis for the foreseeable future, particularly in our major domestic markets in Australia and in New Zealand, as consumers reduce their gearing and businesses pace investments,” he adds.
 
 
 
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ANZ profits up 5.7% to $1.48 billion amid ‘challenging’ environment

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The Director of Consumer Affairs Victoria has suspended western Melbourne suburbs converyancer Anh Ngoc Nguyen.
Nguyen, trading as Compact Conveyancing Services, had his conveyancer’s licence suspended based on serious concerns about his St Albans business practices.
He had about 40 conveyancing matters in progress.
Consumer Affairs Victoria has contacted those clients to inform them of the situation.
CAV director Claire Noone said anyone who has concerns about conveyancing work done by Nguyen should contact Consumer Affairs Victoria for advice.
The Victorian Civil and Administrative Tribunal has begun a disciplinary inquiry into Nguyen’s conduct. His licence will remain suspended until the tribunal makes further orders.
The department has advised consumers should never engage a conveyancer who is suspended or unlicensed, as it can affect claims on professional indemnity insurance or the Victorian Property Fund if something goes wrong.
 
 
 
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Consumer Affairs Victoria suspends converyancer Anh Ngoc Nguyen's licence

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12/1554 Dandenong Road, Oakleigh, Vic 3166
<img style="border-style: initial; border-color: initial;" src="/images/stories/dnong.jpg"> 
This one-bedroom unit is currently leased until April 2012 at $1,260 per month.It includes a modern kitchen, a generous well styled bathroom, reverse cycle air-conditioning, dishwasher, European laundry, secure parking, storage cage and a private courtyard.
Ray White agent Gareth Apswoude <a target="_blank" href="https://www.raywhite.com/vic/oakleigh/666057/">is marketing the property </a>with price hopes of $260,000 plus, which would secure an investor a gross rental yield of 5.8%, much higher than the indicative gross rental yield of 4.7% for Oakleigh units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The median unit price for Oakleigh fell by 10.4% in the past year, according to RP Data.
The property will be open for inspection on Saturday, February 18 at 11am and will go to auction on Tuesday, February 28 at 6m.
For more about prices and yields in Oakleigh, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
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61 Bull Street, Cooks Hill, NSW, 2300
<img style="border-style: initial; border-color: initial;" src="/images/stories/bullst.jpg">
This three-bedroom house is currently tenanted at $370 per week, though the lease is expired. Walkom agent Kate Rundle <a href="https://www.walkom.com.au/buying/search/detail.aspx?id=WLS72501151&amp;wlid=18b8e4f5-2988-4f02-b0b7-85c9912eb071" target="_blank">is marketing the property</a><a target="_blank" href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC619037&amp;listing=residential&amp;buyrent=buy&amp;sbrb=BrightonEast&amp;State=ViC&amp;pcde=3187"> </a>with price hopes of $450,000 plus, which would secure an investor a gross rental yield of 4.3%, about at the indicative gross rental yield of 4.2% for Cooks Hill houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council rates are $1,439 per year and water rates are $660 per year plus usage. The property is close to restaurants and parks and includes a large courtyard.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000.
The median price for Potts Point units went down 2.9% in the past year, according to RP Data.
The property is open for inspection on Saturday, February 18 at 2pm and will go to auction on Saturday, March 3 at noon.
For more information about yields and prices in Cooks Hill, see the RP Data suburb page.
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Friday Form Guide: Yields of up to 5.8% in Oakleigh

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All investment and development properties incur a land tax liability annually. The annual land tax liability for a property is derived from the value of the land only and doesn’t include the value of any improvements. In brief, anyone can object to the valuation which is provided by the NSW Valuer-General, however there is only a 60-day window in which this can be done. In many instances there are significant savings to be made.
Property developers and owners of major investment properties are the most likely to be hit with excessive land lax assessments.
What property types incur land tax?
Land tax is paid on most properties that are not a principal place of residence or not used for primary production. Development sites and land banks, retail and commercial investment properties, vacant land, land improved with a dwelling or apartments, a holiday home and many other property types incur land tax.inst
There are various concessions/exemptions from land tax such as the property being a primary place of residence, the property is intended to be a primary place of residence, a new residence is acquired while the previous one is yet to be sold, you have a home office but the majority of business is done elsewhere, absence from principal place of residence (e.g. move overseas) or a deceased estate.
How much is land tax and how is the amount calculated?
Land tax is payable over a certain threshold. For 2012 the threshold is $396,000. Land tax is calculated at $100 plus 1.6% of the land value between the premium rate threshold ($2,421,000) and 2% thereafter.
The amount payable is based on the average of the last three years’ assessments. It is possible to object to any of the three assessments. If you are objecting to a value that has previously been objected to, new information must be provided.
In most instances it is too time-consuming to lodge an objection for a small investment property, as a successful objection may only reduce the burden slightly. However, with major development sites and investment properties land tax liabilities can be reduced by many hundreds of thousands of dollars.
Residential strata buildings and land tax
In order to determine the land value for individual residential units the Valuer-General assesses the land value of the site the apartment building is erected on. The overall liability for the entire site/building is allocated to each of the units based on their unit entitlement under the strata scheme.
 
How is land tax assessed and what difficulties impact the assessment process? Why might the assessment be wrong?
To arrive at the land value of a property the valuers working for the NSW Valuer-General analyse recent comparable sales. The opinion of value is arrived at after adjusting the identified sales based on their various characteristics, such as location, site conditions, zoning, development approval, scale, floor space ratio, view profiles, aspect and proximity to employment bases and infrastructure.
Although this method is the simplest way to determine land value, there are often points of contention because of the number of adjustments that need to be made to the sales evidence in order to arrive at a land value of the subject property. Small oversights in the valuation process can change an assessment greatly.
Ideally a valuer will use sales of vacant land to determine the unimproved value of the subject land, however in most built-up areas vacant land sales are not available and sales of properties with improvements (units, houses, offices) need to be used. In this instance the valuer will deduct the value of the buildings from the sale price to arrive at the land component of the sale price. This process includes a number of assumptions and a large margin for error, particularly as the buildings are given a value without being internally inspected.
In addition, sales of properties such as development sites and major commercial office buildings often do not transact under simple conditions. Often sales include conditions such as extended settlement periods, various types of options, rental guarantees or staged payments and these conditions can allow a purchaser to pay more for a property for any number of reasons. The value for land tax purposes assumes unconditional sale so it can’t be compared to a conditional sale without making the necessary adjustments. If these adjustments have not been made by the valuer then the identified sale might be contributing to an inflated land value assessment.
There are any number of reasons a property owner might disagree with their assessment and these may be reasonable cause for an objection. Any objection needs to have supporting evidence based on analysis of the sales used by the Valuer General or sales not considered. Some reasons to object might be:
<ul>
<li>My development site has been given the same rate/sqm in value as all the comparable sales but it is in an inferior location and does not similar amenity.</li>
<li>There have been a number of sales around my property that have not been used by the Valuer General and I am of the opinion they are the most comparable and they support a lower land value for my assessment.</li>
<li>My land is heritage listed and the valuer general did not take this into account in their assessment.</li>
<li>Two of the sales used by the Valuer-General were between related parties (e.g. family members) and as such cant be relied upon. I have new sales that support a lower value. </li>
</ul>
How long do I have to consider an objection?
A period of 60 days is provided in which an objection can be lodged. This can be lengthened at the Valuer-General's discretion. This is only a narrow time to object and it is in the objector’s best interest to object before the end of the 60 days.
Notwithstanding the above as previously mentioned your land tax liability is based on the average of the previous three years and it is possible to object to any of the three years that appear on the notice. As such, if you miss the 60 day window you will have another chance to object to the value the following year. 
Things that ought be taken into consideration before lodging an objection?
<ul>
<li> How much of my time will it take to lodge a professional and well researched objection?</li>
<li>Should I appoint a third party to make the objection on my behalf? If so how much will they cost?</li>
<li>How much do I think I can reduce my liability by? After considering the time and cost to lodge an objection is it worthwhile?</li>
<li>Who is a property consultant that can provide some guidance/advice in this?</li>
<li>Do I have the expertise to properly lodge an objection?</li>
<li>The assessment is based on an average of three years and this should be taken into account when deciding what years out of the three can be objected to.</li>
</ul>
What increases chance of success?
<ul>
<li>Properly analyse the sales identified by the Valuer General so that all details of the sale are known and their impact on the value explored.</li>
<li>Identify any key sales not used by the Valuer General.</li>
<li>Provide a clear and concise objection.</li>
<li>Instructing a qualified valuer and/or land economist to prepare an objection for you.</li>
</ul>
Determining objections and how to appeal. Is it worth appealing?
After an objection is lodged it will be reviewed by an independent valuer appointed by the Valuer-General. Once the objection has been reviewed a notice of determination of the objection is sent to the relevant party. If a notice is not received within 90 days of lodgement then the objection is deemed to be disallowed.
If an objection is not successful then you have 90 days to lodge an appeal with the Land and Environment Court of NSW.
The cost of an appeal can be significant due to the inclusion of lawyers and property valuers/land economists. The high cost of an appeal is part of the reason it is important to lodge an professional objection.
Sam Barrow is property advisor and valuer for <a target="_blank" href="https://www.landsburys.com.au/">Landsburys Property</a> providing strategic advice, risk analysis and valuation services. Sam has experience in all property types, however specialises in residential and mixed use development projects and master planned communities throughout New South Wales. 
 
 
 
 
 
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Time ticking on 60-day objection period in NSW: Land tax 101

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Amid a somewhat lacklustre environment for the new housing sector, home builder Peet Limited has secured its 100th sale in its Aston development, in the outer-Melbourne suburb of Craigieburn.
Aston launched in June 2011, and the 100th buyer, the Singh family, purchased a block of land in late January. The Singhs plan to begin construction next winter.
The family have lived in Craigieburn, about 30 kilometres north of Melbourne, for most of 2011 and they are glad to have secured a home in the area.
“It’s a nice, quiet area close to everything we want and it’s an easy 20-minute trip in to work for me,” Rupinder Singh says.
But not many Australian families are following the Singhs’ example, with detached new home sales falling 7.7% in the December quarter, according to the Housing Industry Association.
“Weakness in the new home building sector reflects a combination of subdued demand and an excessive cost base driven by high and inefficient taxation, the latter of which was further highlighted in 2011 by the modest decline in existing property values,” HIA chief economist Harley Dale says.
Victoria was hit particularly hard in the December 2011 quarter, with a 10.5% decline in new detached home sales.
Land sales are not doing much better, according to HIA-RP Data. Although land sales increased by 1.3% in the September 2011 quarter, they were 16.8% lower than in the September 2010 quarter and substantially lower than their September 2009 peak.
But despite hard times for the sector as a whole, Aston has proven popular with buyers. It will offer residents a total of 20 hectares of parkland and open space, including three sports fields.
<img src="/images/stories/aston.jpg">
December was the best month for sales in the development since its launch.
Land it set aside for an onsite retail sector and a school, and the development is close to several primary and secondary schools and is within a short drive of Greenvale, Craigieburn and Roxburgh Park Shopping Centres.
Blocks in the development range from 315 square metres through to 494 square metres, with frontages varying from 14 metres to 17.6 metres. Prices range from $180,000 through to $220,000.
The median house price in Craigieburn increased 3.2% last year, according to RP Data.
The median value for capital cities land rose by 1% in the September 2011 quarter to $213,718, or 2.5% higher than one year earlier.
 
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Buyers snapping up vacant land in Peet's Aston development, despite lacklustre sector

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The <a href="https://www.propertyobserver.com.au/queensland/big-pineapple-ploughing-begins-as-plans-come-to-fruition/2011121952891" target="_blank">Big Pineapple</a> and <a href="https://www.propertyobserver.com.au/new-south-wales/bunnings-shells-out-for-big-prawn-site-but-has-no-plans-for-its-renovation/2011081851207" target="_blank">Big Prawn</a> recently sold, but South Australia's Big Olive has not been so lucky. 
It has been on the market for several years with no success, according to Colliers International agent Phil Schell, who was marketing the property, and it has now been withdrawn from sale. 
The 1,103-hectare property includes more than 100,000 olive trees, 6,500 pine-nut trees, pomegranate and gourmet fig trees and 61 hectares of vineyard. It has a state-of-the-art olive processing facility onsite along with a water allocation of 6,237 megalitres. 
It produces Ozolio, The Big Olive, Bene Vita and Coorong extra-virgin olive oils, along with tapenades, table olives and Royal Monastery wine.
The processing, bottling and packaging factory was established in 1998, and The Big Olive sculpture was erected in 2005 as a tourist attraction. The fibreglass sculpture is eight metres tall and weighs more than a tonne. 
"I have a passion for the product and we believe in its potential," The Big Olive managing director Jo Hani told The Murray Valley Standard at the time.
It was listed for sale or seeking a potential partner in 2008, according to OliveGrower.com.au, and at the time it was on 2,726 hectares, of which 385 hectares was plnted with olives. It was estimated to be valued at between $25 million and $30 million.
The property is about 100 kilometres from Adelaide and enjoys a perfect climate for growing olives.
There is expansion potential for further planting, and the property holds water licences and prepared ground for the planting of 12,000 almond trees.
 
 
 
 
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