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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 154 capital city fringe locations for property under $300,000 - and Gagebrook, Tasmania tops the list: RP Data

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There was a firm start to weekend auctions in the Sydney and Melbourne residential markets, albeit on low volumes.
In Sydney there was a 72% success rate from 67 report results complied from the 80 scheduled auctions monitored by Australian Property Monitors.
On the same weekend last year there were 106 Sydney auctions and a 49% clearance rate.
But the very next weekend last February, vendors secured Sydney’s highest auction clearance rate for the year, when there was a 63% success rate.
According to Clinton McNabb, research analyst at Australian Property Monitors, the Sydney clearance rate fell gradually across the year from 59% in February to a low of 49% in December, and was 53% for the year.
APM has 198 auction listings for February 11, then 330 and 429 for the remaining February Saturdays.
Despite the big jumps in weekend volumes APM suggests the overall February total might be around 20% lower than last February.
Melbourne secured a 58% success rate from the 112 reported auctions. 
This was a slight improvment on the 56% clearance rate for Melbourne auctions in 2011.
On the same weekend last year there were 189 auctions and a 56% clearance rate.
Next weekend about 305 auctions are expected in Melbourne, then 620 and 850, according to Robert Larocca, communications manager at the Real Estate Institute of Victoria.
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jchancellor-FAypfDUnLy

Clearance rates up but volumes down in auction season opener: Weekend auction wrap

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Australia’s housing bubble will “pop” if it builds more houses, says US hedge fund manager Jeremy Grantham.
“If you have a housing bubble and you respond by building houses, it pops. It behaves from a bubble expert’s point of view.”
However, Grantham says the RBA’s interest rate cuts are forestalling a property crash.
“The UK and Australia are abhorrent bubbles, because of government policy, you draw out the agony,” he told the Australian Financial Review. According to Grantham, a property crash would be good for the economy and for those who have not bought yet.
Grantham, co-founder of Boston-based hedge fund GMO, caused a stir in April 2010 when he declared a housing bubble in Australia and said prices would tumble as interest rate rose (the Reserve Bank pushed rates up by 25 basis points to 4.25% in April 2010).
His declaration resulted in a flurry of short-selling by Australian banks.
In 2011 Grantham visited Australia and said the housing bubble was about to burst, but later adjusted this forecast to say it might only deflate slowly rather than pop.
Grantham correctly predicted Japanese real estate’s bubble in the 1980s, the bursting of the dotcom bubble and the events that led to the US housing crash in 2008.
He maintains that an overpriced housing market is not healthy for the economy and puts Australia at a risk of a Japanese-style housing scenario.
Under a Japanese scenario those looking to enter the housing market (young first-home buyers) must either continuously save or live outside of the major cities to afford a house.
“For someone that hasn’t bought and for a generally healthy economy it’s better to get rid of it and start again,” he says.
According to Grantham first-home buyers and new arrivals are better of renting than buying at the moment because house prices are being artificially “propped up.
Renting now, he says, is a cheaper and less risky proposition than buying a property.
“You are putting a terrible burden on young families, which is a miserable idea,” he says.
“Japan did it that way and they have worked it out after 20 years. Back in 1990 if you were young you were looking at loony prices for little shacks in Tokyo.”
Backing his argument, Grantham says first-home buyer numbers are at record low ratios in both Australia and the UK. 
Another US analyst, Heather Hagerty of bond fund manager Fidelity Investments, says the 3.5% fall in house prices in 2011 is “comforting” and says a “healthy correction is going on”.
“We take comfort in the fact that the household leverage isn’t growing, that the savings rate continues to be at a high level and the market appears to be reacting to the rate cuts.”
However, while Hagerty says the Australian market is shielded by the tax structure, full-recourse lending, low loan-to-value ratios, she agrees with Grantham that pent-up demand is the issue.
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US analyst Jeremy Grantham adjusts Australian housing price bubble predictions, so watch housing construction numbers now

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An expected cut in interest rates tomorrow will cause housing affordability to improve even further than its current eight-year high and should silence those housing “doomsters” forecasting big drops in house prices over the next few years, according to CommSec chief economist Craig James.
Writing in his latest Investor Signposts report, James notes that a “combination of rising household income and lower housing prices has meant that housing affordability is now at the best levels in over eight years (since 2003)”.
“Another interest rate cut this week will boost housing affordability even further. Where will that leave the doomsters? Basically with nothing to report,” he says.
The “doomsters” forecasting big drops in house prices include University of Western Sydney’s <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-will-be-10-lower-by-the-end-of-the-year-steve-keen/2012020253240">Steve Keen, who expects house prices to fall by between 6% and 10% in 2012</a> principally because mortgage demand is decelerating and the market has shaken off the effects of the “first home vendor’s boost”.
More dramatic predictions have been made by US self-described expert Jordan Wirsz, who forecasts a 60% drop in house prices over the next five year – claims that have been <a target="_blank" href="https://www.propertyobserver.com.au/residential/us-doomsayer-jordan-wirsz-s-predicted-60-drop-in-aussie-house-prices-silly-analysts/2012020353244">rubbished by Australian property market analysts.</a>
James described the 3.6% drop in property prices in 2011 (as recorded by RP Data-Rismark) as a “soft landing” after growth of 5.1% in 2010 and 12.1% in 2009.
“Prices were pumped up in 2009 by super low interest rates and government incentives for first home buyers, so a correction was clearly on the cards as demand and supply moved into balance,” James says.
“And at the end of 2011 it looked like the correction was nearing completion with prices up 0.4% in November and easing just 0.2% in December.”
James also notes that despite the fall in dwelling prices, “total return on dwellings grew by 0.8% in 2011, out-performing shares with the All Ordinaries accumulation index sliding by 11.4% over the year.
“But returns varied from +4.5% in Sydney to -2.3% in Melbourne.”
Speaking on ABC’s Insiders program yesterday, Federal Treasurer Wayne Swan also highlighted improved housing affordability and said cheaper interest rates were saving borrowers about $3,000 per year.
Swan noted that the cash rate currently sits at 4.25% compared with 6.75% when the Labor government came into power.
“If you look at the last two interest rate cuts, somebody on a $300,000 mortgage is paying $3,000 a year less than they were paying when we came to government. So the fact is that the outlook out there is pretty bright.
“The fact is the economy is going along strongly but we've also seen rates come down, two rate cuts in a row, and there are good deals out there in the market,” he says.
Should the major banks not pass on the full rate cuts, they are likely to cop another verbal bashing from the Treasurer, who has dismissed banks’ cries over higher funding costs as highlighted by <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=property+observer+gail+kelly&amp;source=web&amp;cd=3&amp;ved=0CDEQFjAC&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Fwestpac-cuts-jobs-as-mortgage-demand-falls-and-wont-commit-to-passing-on-rate-cuts&amp;ei=SQ4vT6SwC-60iQeJh8nTDg&amp;usg=AFQjCNHhpRxC5HtOz9KfJT2lwdChk8n13w">Westpac CEO Gail Kelly last week.</a>
Swan says banks remain “hugely profitable and their net interest margins are back to where they were prior to the global financial crisis”.
A report in today’s Sydney Morning Herald highlighted Westpac’s slowness in passing on the November and December rate cuts, with some borrowers yet to see any repayment relief.
The bank claims it is helping borrowers “get ahead” on their mortgages – borrowers have to call the bank and ask for the rate cut to be passed on.
According to opposition spokesman Joe Hockey borrowers were $700 per year better off under the 12-year reign of the Howard government than under the current Labor government.
 
 
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Rate cut would silence 'doomsters' and improve already high affordability: CommSec's Craig James

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Foreign home buyers in China will no longer be granted medium- or long-term mortgages, the National Development and Reform Commission announced last week.
The new policy is the government's latest measure to cool the country's property market, despite foreigners only accounting for a very small portion of home buyers.
Statistics from Centaline Property Agency (CPA) Ltd show that in 2009 the proportion of homes in Beijing's pre-owned property market owned by people from overseas stood at 0.79%.
The purchase of new apartments by foreign buyers had been had been on the rise, with CPA noting for apartments sales valued at more than 3 million yuan ($476,000), the figure was more than 10% during 2009.
In 2007 the figure was 0.4% and in 2008 it was 0.32%.
In July 2006, China launched a policy restricting property purchases by foreigners. According to that policy, only expatriates who have studied or lived in China for more than one year can buy property, with purchases capped at one apartment for self-use.
"The new restriction will affect sales of some of our high-end projects," said Grant Ji, director of the investment department at the real estate service provider Savills Property Services (Beijing) Co Ltd.
"One of the major barriers is the currency. People who don't work in China are only allowed to exchange a maximum of $50,000, which is not even enough to meet the down payment. If medium- to long-term loans are prohibited, it will be almost impossible for them to purchase a home," Ji told ChinaDaily website.
 
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China tightens mortgage policy for foreigners as part of cooling measures

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This Tuesday we have our first Reserve Bank of Australia meeting for 2012, where it would come as no great surprise if the bank leaves the cash rate at 4.25%. The RBA is well aware that Australian banks’ funding is under great pressure as a result of the global financial crisis to the extent that our banks have already forewarned that if the cash rate is reduced it is highly unlikely they will pass on such cuts. I agree with former RBA board member Warwick McKibbin that the bank should wait until the European debt crisis is sorted out – “it’s better you have your weapon loaded so when the crisis comes, you can hit it with full force.”
So how low will the RBA cash rate go in 2012? I am tipping three rate reductions, reducing the cash rate site to 3.25% by the year’s end. On April 9, 2009 the RBA dropped the cash rate to 3%, so I can’t see it dropping below that. We need to remember that in Australia approximately one-third of households rent, the other third own with a mortgage and the final third own without a mortgage.
Australia is most fortunate that our banks are among the top performing in the world – as too our property markets. Three years ago the American property market was so weak the US Federal Reserve cut the official interest rate to zero. This week it announced that it plans to keep interest rates at near zero until the end of 2014. A cash rate that hovers around zero means exactly that –  nothing really happens to the extent that the economy is fundamentally broken with no signs of recovery in the short term. If this were to happen in Australia the economic consequences would indeed be dire and property values would plummet with the unemployment rate skyrocketing.
<img src="/images/stories/simeon1.jpg">
<img src="/images/stories/simeon2.jpg">
<img src="/images/stories/simeon3.jpg">
 
In Australia the property data aggregators (Australia Bureau of Statistics, Residex, Australian Property Monitors and RP Data-Rismark) all <a href="https://www.propertyobserver.com.au/residential/divergent-housing-data-raises-more-questions-than-answers/2012020153216">offer conflicting market positions</a> that <a href="https://www.propertyobserver.com.au/residential/december-quarter-housing-data-roundup-four-sets-of-statistics-give-divergent-outlooks/2012020153215">confuse the markets</a> – then <a href="https://www.propertyobserver.com.au/residential/sydney-and-melbourne-more-affordable-than-demographia-suggests/2012012953158">throw in Demographia International</a> to complete our “dog’s breakfast”.
I use a much more simple application. My demographic market is Mosman, which has approximately 4,900 houses. I go to Domain and untick surrounding suburbs and then tick houses, where I see that 102 houses are currently on the market, which is approximately 2% – in 2011 Mosman never went higher than 3%. If a property market gets above 10% you then have serious problems and prices will suffer significant collapses.
Another point that needs to be raised is the Chinese factor, which was highlighted in a recent article that appeared in Property Observer – “Harry Triguboff says Chinese buyers back in Sydney market in January: Gottliebsen”. An article appeared in the China Daily last week “Real estate down under proving to be very attractive”: “Chinese investors are showing an increasing high level of interest in the Australian property market. Chinese developers were responsible for 9% of the 30% share foreign developers took in the Australian apartment market last year.”
“In a review by real estate company CBRE for the fourth quarter, more than 1,200 apartments were either planned, being marketed or were under construction by Chinese companies in Australia. The Chinese mainland was only led by Singapore (37%), Hong Kong (20%) and Malaysia (12%).”
“The biggest markets sit along the east coast in Australia’s two largest cities: Melbourne and Sydney. About 80% of the total number of apartments proposed or under construction by foreign developers was located in these two cities.”
So after four years of financial turmoil Australia does have something to smile about although 2012 will be a tough year. Money will be tight, but that is not a bad thing either given it allows property niche markets to consolidate.
Australia is building momentum, which can’t be said for the northern hemisphere markets. 
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
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robertsimeon-hRNTwJyXkQ

Australia is building momentum, and property markets will stay stable

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NAB has emerged as the big mortgage winner in 2011, with the bank growing its combined owner-occupier and investment mortgage book by an impressive 12% during the 2011 calendar year, according to official APRA figures.
The bank’s growth rate was also more than <a target="_blank" href="/news">double the national housing credit growth rate of 5.4% for 2011</a> calculated by the RBA (the lowest since the central bank began compiling figures in 1977).
During the year in which NAB kicked off its “Break-up” campaign on Valentine’s Day – encouraging Commonwealth Bank, Westpac and ANZ borrowers to switch to NAB – it grew its mortgage book by $19 billion to $177 billion, comprising $126 billion in owner-occupier mortgages and $52 billion in investment loans.
Year-on-year figures for major and second-tier lenders (owner-occupier and investment loans)
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="187" valign="top">
 
</td>
<td width="94" valign="top">
Loan book December 2011
</td>
<td width="113" valign="top">
Loan book December 2010
</td>
<td width="114" valign="top">
Gain over the year
</td>
<td width="107" valign="top">
% change
</td>
</tr>
<tr>
<td width="187" valign="top">
Westpac
</td>
<td width="94" valign="top">
$285 billion
</td>
<td width="113" valign="top">
$268 billion
</td>
<td width="114" valign="top">
$17 billion
</td>
<td width="107" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="187" valign="top">
CBA
</td>
<td width="94" valign="top">
$263 billion
</td>
<td width="113" valign="top">
$252 billion
</td>
<td width="114" valign="top">
$11 billion
</td>
<td width="107" valign="top">
4.3%
</td>
</tr>
<tr>
<td width="187" valign="top">
NAB
</td>
<td width="94" valign="top">
$177 billion
</td>
<td width="113" valign="top">
$158 billion
</td>
<td width="114" valign="top">
$19 billion
</td>
<td width="107" valign="top">
12%
</td>
</tr>
<tr>
<td width="187" valign="top">
ANZ
</td>
<td width="94" valign="top">
$163 billion
</td>
<td width="113" valign="top">
$153 billion
</td>
<td width="114" valign="top">
$10 billion
</td>
<td width="107" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="187" valign="top">
Bankwest (owned by CBA)
</td>
<td width="94" valign="top">
$45 billion
</td>
<td width="113" valign="top">
$40 billion
</td>
<td width="114" valign="top">
$5 billion
</td>
<td width="107" valign="top">
12.5%
</td>
</tr>
<tr>
<td width="187" valign="top">
ING Direct
</td>
<td width="94" valign="top">
$37 billion
</td>
<td width="113" valign="top">
$36.5 billion
</td>
<td width="114" valign="top">
$0.5 billion
</td>
<td width="107" valign="top">
1.35%
</td>
</tr>
<tr>
<td width="187" valign="top">
Suncorp
</td>
<td width="94" valign="top">
$29 billion
</td>
<td width="113" valign="top">
$28 billion
</td>
<td width="114" valign="top">
$1 billion
</td>
<td width="107" valign="top">
3.5%
</td>
</tr>
<tr>
<td width="187" valign="top">
Bendigo and Adelaide
</td>
<td width="94" valign="top">
$22 billion
</td>
<td width="113" valign="top">
$19 billion
</td>
<td width="114" valign="top">
$3 billion
</td>
<td width="107" valign="top">
15.7%
</td>
</tr>
<tr>
<td width="187" valign="top">
Bank of Queensland
</td>
<td width="94" valign="top">
$21 billion
</td>
<td width="113" valign="top">
$17 billion
</td>
<td width="114" valign="top">
$4 billion
</td>
<td width="107" valign="top">
23.5%
</td>
</tr>
<tr>
<td width="187" valign="top">
HSBC
</td>
<td width="94" valign="top">
$7.3 billion
</td>
<td width="113" valign="top">
$6.8 billion
</td>
<td width="114" valign="top">
$0.5 billion
</td>
<td width="107" valign="top">
7.3%
</td>
</tr>
</tbody></table>
Source: APRA figures
When including the performance of its subsidiary Bankwest (growth of 12.5%) the Commonwealth Bank managed growth of 9.4%. As a stand-alone brand, the Commonwealth Bank managed growth of 4.3% for the year.
ANZ and Westpac (including St George and Bank of Melbourne) managed similar mortgage growth of 6.5% and 6.3%.
Using the same APRA figures but over a longer period and looking only at owner-occupier mortgages, The Weekend Australian shows the big four have grown their mortgage books by a combined $175 billion since the GFC (November 2008- December 2011), with Westpac showing the greatest growth (helped by the addition of St George’s $38 billion book) from $75 billion to $166 billion.
Federal Treasurer Wayne Swan disagrees that the major banks are increasing their market share.
“A lot of what you read from time to time in this area doesn't match up with the facts. We have powerful vested interests out there that are pushing their line all the time,” Swan said in an interview on the ABC’s Insiders program yesterday.
“Certainly the big four have a large market share, but these competition reforms are driving the capacity of the smaller lenders to get in there and to provide some vigorous competition and to give consumers a choice so that if they're unhappy with one of the big banks they can walk down the road and get a better deal,” he says.
Among the second-tier lenders, Bank Queensland was the star performer, recording mortgage growth of 23.5% over 2011, followed by Bendigo and Adelaide Bank (15.7%).
NAB has maintained the lowest standard variable interest rate of the big four banks – currently at 7.22% compared with ANZ’s 7.3%, Commonwealth Bank’s 7.31% and Westpac’s 7.36%.
It also currently has the lowest standard variable mortgage in the market through its online brand Ubank – currently at 6.14%, though only for those borrowers who are refinancing.
 
 
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Second-tier lenders and NAB big winners in 2011 mortgage wars

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Sydney’s residential vacancy rate eased by 0.2% to 1.6% in December, the first increase in three months, according to the latest data from the Real Estate Institute of NSW, which has labeled the increase merely “seasonal”. 
Sydney’s inner suburbs (zero to 10 kilometres from the CBD) and the middle suburbs (10 to 25 kilometres from the CBD) recorded a 0.3% increase in their vacancy rates to 1.5% and 2% respectively in the results released earlier this year. 
In the outer suburbs (more than 25 kilometres from the CBD), vacancies improved by just 0.1% to an extremely tight 1.4%. 
Outside of Sydney vacancy rates deteriorated in other major metropolitan centres, with Newcastle recording a significant decline in available properties for the second consecutive month. 
In December the rental vacancy rate for Newcastle fell by 0.5% to 1.1%, further compounding the 0.3% recorded in November. 
The overall rental vacancy rate across the Hunter region fell by 0.3% to 1.1%. 
In Wollongong the vacancy rate fell by 0.1% to 2.2% while across the entire Illawarra region, the percentage of available properties declined 0.2% to 1.6%. 
Vacancy rates on the central coast rose slightly, up 0.1% to 1.6%. 
REINSW Christian Payne warns the rental situation will only become tighter in 2012. 
“The new year traditionally signals an increase in demand for rental properties across the board. 
“The already low levels of available rental properties are likely to be squeezed even further as people return to work and schools and universities resume for the academic year. 
“Unfortunately for those seeking rental accommodation, the situation will only become more difficult in the first quarter of 2012”, he says.
 
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Sydney vacancy rate eases in December, but REINSW predicts tightening in 2012

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We can’t all be Mark Zuckerberg of Facebook with his 800 million members. But you have to admire the guy. He is just about to become the 28th wealthiest person in the world and he is only 28 years old. But we can and should be inspired by him. He realised only a decade ago that new technology and the internet was the way to go in the 21st century, and he has built his dream from there.
He used the internet to do something that we can all do now on the web. We can communicate directly either by email or through our websites and blogs to a targeted audience that is interested in what we have to say.
It is still all about old-fashioned “networking”. And it is still about communicating with other human beings and getting our own message out to them. But nowadays it is also very much about using the world wide web as well, and it costs absolutely nothing. The trick is to use social media, which refers to “the process of gaining website traffic or attention through social media sites”.
What has not changed in so few years is that social and business networking still works very much on the ground and person-to-person, and this means building your own brand by word of mouth and personal recommendations. But it now has to include your own branding on the web. It won’t be very long before you just say a search phrase out loud like “find me a real estate agent in Sydney” and the wall of your living room will light up with the answer from your favourite avatar.
According to a comment on Wikipedia this is how the network effect works:
“Network effects become significant after a certain subscription percentage has been achieved, called critical mass. At the critical mass point, the value obtained from the service provided is greater than or equal to the price paid for the service.”
The mind boggles after reading this quote, so what does all this mean for you as a real estate agent?
Read my tips below and decide for yourself . . .
<ol>
<li>It’s a new year, so get your critical m’ass moving! Don’t sit around waiting for things to happen to you. Make them happen instead. </li>
<li>Build your own personal brand. At the end of the day it’s your own hard work and effort and you deserve the <a href="https://en.wikipedia.org/wiki/Kudos">kudos</a>. </li>
<li>Start by building your own network, and don’t just rely on your agency’s database (you don’t control it and they are usually out of date anyway). </li>
<li>Don’t listen to your boss’s insistence that you stay glued to your desk all day long on the phone. The “bums on seats” theory for real estate agents does not work. You need to get out there in your own market area and work it constantly. Talk to people, buy them a coffee, rub shoulders with them, tell them what you do and how you can help them. The real estate business is a “hard contact” game. If you don’t make an effort to meet and engage with people, they won’t know who you are! </li>
<li>Work smart. Get rid of the BS in your work-life and use every minute of the day to achieve your own dreams. No one else can do it for you. </li>
<li>Create your own blog or website and get yourself up on the web! There are simple and totally free ways to start branding yourself and get promoted online almost overnight. If you are interested (and you should be!) contact me by email and I will send you a couple of tips that will probably change your life for the thank you-much-much-better. </li>
<li>Befriend a buyers’ agent! These guys will introduce you to a qualified buyer for your listing and save you a lot of time and effort, so work with them. You can read an article I wrote recently about this by clicking on the following link: <a href="https://www.propertyobserver.com.au/residential/selling-agents-and-buyers-agents-work-together-but-have-opposing-goals/2011112052436" target="_blank">‘Selling agents and buyers' agents work together but have opposing goals’</a> </li>
<li>Be good to people every single day, and help them in whatever way you can. Make an effort to show that you are not just interested in yourself. If you take a genuine interest in other people they will always help you down the track. </li>
<li>Don’t lose your confidence or give up halfway through your efforts to build your own network (or achieve your own dreams) – it can take months or years. People who don’t want to be in it are not important; it is the ones who are in it that will give you the business. </li>
<li> NEVER give up! If you are finding it hard to get listings or a sale doesn’t go as well as you hoped, keep on trying. Your efforts will be rewarded sooner or later, so hang in there.</li>
</ol>
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a href="https://www.primepropertybuyer.com/" target="_blank">Prime Property Buyer</a>.
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tmansfield-Rk8rBecHRA

Ten new year tips for real estate agents

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<img src="/images/stories/crashquote.jpg">
Finance sage <a target="_blank" href="https://www.smh.com.au/business/property-crash-just-a-myth-20120201-1qtcz#ixzz1lIFoQ23v">Ian Verrender gives his property price forecast</a> in the Sydney Morning Herald.
And speaking of punting the house ... social commentator Melissa Hoyer jestingly noted she'd done so last weekend on Black Caviar's race. <img src="/images/stories/backdoormat.jpg"> 
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