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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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?

It's fair to say that the Melbourne property market has been the most challenging property market across Australia since onset of the pandemic.

Rolling lockdowns, more than any other state capital, and up there with one of the most locked down cities in the world, put the city back several paces.

This, combined with the lifestyle shift to regional areas driven by COVID, rapid interest rate increases, and ongoing tax hikes over several years, has left many demographics—who are typically eager to buy property—in a holding pattern.

Until now.

The Allan Government has introduced two key policies that they believe will stimulate the off the plan market.

The first was the announcement that they were encouraging new apartment development <a href="/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">around 50 train and tram stations</a>.&nbsp;

So far 25 of the 50 have been named, with a focus on stations that benefit from the Metro Tunnel and the well-serviced Frankston,&nbsp;<a href="/developments/sandringham-vic-3191">Sandringham</a>, Belgrave/Lilydale and Glen Waverley Lines. The rest of the stations will be announced before the end of the year.

Read more:&nbsp;<a href="/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The biggest announcement however came earlier this week when the government abolished stamp duty for anyone buying off the plan. What's more, unlike previous policies that saw stamp duty paused, this policy applies to every buyer, at every price point, across the whole of Victoria, for exactly 12 months starting from October 21 2024 to October 21 2025.

<a href="/">Apartments.com.au</a> CEO Mike Bird said the challenges of the market have been well documented in the last few years, but the effect of the stamp duty changes will be felt immediately

"The shackles are off and buyers are going to be able to save tens, if not hundreds of thousands, in the next 12 months," Bird says, adding that the market, both developers and buyers, have been waiting for this sort of stimulus for several years.

"The demands put on the VIC government from the sector has forced its hand to act. We're at a significant shortfall of housing across Victoria.

"Developers aren't developing, in part because a large section of buyers can't afford prices of new apartments, which have gone up due to the cost of labour and materials. The rapid increase in interest rates has pushed first home buyers and investors out of the market, while downsizers have proven slow to respond to new apartments because they have to pay the stamp duty tax and they're choosing to stay in their homes for longer.

“While this isn’t&nbsp;a silver bullet, when paired with upcoming interest rate cuts, it should have a material impact."

Bird says the next step is to apply the same policy&nbsp;in the house and land sector.

Scott Jessop, Head of Sales and Marketing at <a href="/developers/sunkin-property-group">Sunkin Property Group</a> who is developing <a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">Highett Common</a>, set to be the&nbsp;first Net Zero Community in Victoria, says that the upcoming changes will benefit all of Victoria, impacting anyone looking to purchase or rent a property in the future.

However, he emphasizes that this is just a small step toward restoring a normal housing supply environment. Over the past decade, various negative taxes and challenges have contributed to a significantly suppressed housing supply, which has played a major role in the current housing crisis.

[smartcode_project:default project_id=108019 project_image_fid=300063]

Jessop says the stamp duty will help the supply of rentals due to investors now more likely to get into the market.

"I've seen investors over nearly 20 years in the market as the fundamental backbone that brings the most affordable long-term rental properties to the market and essentially housing supply.

"For both local and foreign investors that I've previously seen, the majority of them want a return on their investment and it's these types of sales, when combined with first home buyers, downsizers, and rightsizers, allows developers to secure their pre-sales to bring a project out of the ground to deliver the supply of housing."

Jessop says despite the announcement only coming earlier this week, enquiry rates have already risen.

"People&nbsp;can see there is real value in Melbourne's off the plan apartment and townhouse market when you compare it to Brisbane, Gold Coast, Adelaide and Perth's market values over the past couple of years. We also know that fundamentally Melbourne is still a great market overall and may have struggled a bit post-COVID, however good quality real estate and a good quality city will always prevail long term and a shift in interest rates and population growth will certainly assist with this."

After great success of the first two stages, Sunkin recently released the third stage of Highett Common. The Mews Collection comprises a trio of buildings with 185 one, two and three-bedroom apartments. The Mews Collection also includes the first luxury apartments within the precinct.

Read more:&nbsp;<a href="/news/vic/sunkin-reveal-the-mews-collection-highett-commons-latest-release">Sunkin reveal The Mews Collection, Highett Common's latest release</a>

[smartcode_project:default project_id=108019 project_image_fid=300057]

Developer <a href="/developers/sma-projects">SMA Projects</a>&nbsp;accidentally timed the launch of their newest apartment project to perfection. It was earlier this month that they launched <a href="/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent Fitzroy</a>, their new development of 64 one two and three-bedroom apartments on the site of the former Regent Theatre on Fitzroy Street. Now buyers can take full advantage of stamp duty savings across each of the configurations.

Emily Shaddick at SMA Projects said those&nbsp;spending $2.5 million on an apartment at The Regent will save well over $100,000 in stamp duty for the next 12 months.

"The savings will encourage downsizers out of their homes where previously they were looking at a hefty bill to do so," Shaddick says, adding that&nbsp;even buyers of the one-bedroom apartments at The Regent will save more than $30,000.

[smartcode_project:default project_id=24824 project_image_fid=304614]

Shaddick expects that, with no cap on the purchase price to receive a saving, downsizers will act swiftly on the savings.

"Downsizers and rightsizers now have an opportunity to secure a quality off the plan apartment with a floorplan that really suits their needs, and whilst developers are constructing the property, the purchaser has the flexibility to sell their current home in a future market when inevitably interest rates fall and the established market has responded."

[smartcode_project:default project_id=24824 project_image_fid=304611]

Marshall White Director, Leonard Teplin, who is working across several developments across Melbourne, particularly in the downsizer space, has seen a marked uptick in enquiry in a few short days since the announcement.

"This is a game-changer for downsizers," Teplin says.

"They can now purchase high-end apartments&nbsp;or townhouses without the hefty stamp duty, making the transition more financially appealing. I expect to see a surge in downsizer activity, especially in premium inner-city and Bayside locations. This also has a dual benefit of encouraging downsizers to transition from the family home, and therefore, making more established housing available for family buyers."

[smartcode_project:default project_id=109908 project_image_fid=221811]

Teplin believes there will be a&nbsp;significant boost in off the plan sales over the next 12 months, however, the VIC Government hitting its full-year target of delivering around 80,000 homes might still be challenging due to construction industry capacity constraints and planning approval timelines.

"If the scheme proves successful, there could be a strong case for extending it beyond the initial 12 months to maintain momentum and address long-term housing supply issues."

Noorden Projects Director Dave Lamond says he's already&nbsp;received "quite a few calls" from potential purchasers looking to make the most of the stamp duty savings they may be eligible for.

"The opportunity can certainly help the higher-end apartment buyers to make the figures work&nbsp;and developers to encourage purchasers to put pen to paper," Lamond says.

"Now is the&nbsp;hustle to get the figures through the quantity surveyors to help give people the confidence around their potential stamp duty."

[smartcode_project:default project_id=5366 project_image_fid=61084]

He says the savings have opened up an opportunity at some of the more premium developments he's marketing, like Duke in Collingwood which is under construction.

"It’ll be a busy 12 months in the luxury market."

"The shackles are off": What the abolition of stamp duty really means for the Melbourne new apartment market

New buyers at Toorak Park, the regarded apartment development on the fringe of Toorak and Armadale by the ASX-listed developer Lendlease, have the chance to take advantage of a $25,000 rebate for a limited time.

Located just 8 km from Melbourne's CBD and adjacent to Toorak Station, <a href="/buildings/toorak-park-armadale-590-evergreen-mews-armadale">Toorak Park</a> spans 2.5 hectares and includes a mix of residential buildings designed in collaboration with <a href="/architects/denton-corker-marshall">Denton Corker Marshall</a>, <a href="/interior-designers/carr-interiors">Carr Design Group</a>, and <a href="/architects/koichi-takada-architects">Koichi Takada Architects</a>.

The extensive landscaping, designed by <a href="/landscape-architect/tract-landscape-architects">Tract</a>, adds to the appeal, with open spaces making up a third of the site, including a bluestone plaza, communal gardens, and leafy boulevards.

[smartcode_project:default project_id=377 project_image_fid=211689]

The availability of these completed apartments presents a unique opportunity in a market where new developments in Toorak are scarce, especially at more accessible price points.&nbsp;

Toorak Park features a selection of one to four-bedroom apartments starting from $780,000.

While Toorak has historically been dominated by family homes, with more than 60 per cent of households consisting of families, Toorak Park introduces modern, affordable options for those who have struggled to buy into the local market.

[smartcode_project:default project_id=377 project_image_fid=211685]

The apartments feature reconstituted stone and timber, European appliances, and generous balconies extending the living spaces outdoors.&nbsp;

The inclusion of car parks for every one-bedroom apartment is a rarity in the area and further enhances the development’s attractiveness for those looking for both convenience and long-term value.

[smartcode_project:default project_id=377 project_image_fid=211688]

Toorak Park offers an array of exclusive amenities including a fitness centre and an indoor swimming pool.

The architectural vision behind the development was to create a "village within a village," connecting the nearby Beatty Avenue shops and Orrong Road with newly opened access to the Toorak railway station.&nbsp;

The result is a highly connected, community-focused environment that blends seamlessly with the established character of Armadale.

[smartcode_project_cta:default project_id=377]

While Toorak has historically been dominated by family homes, with more than 60 per cent of households consisting of families, Toorak Park introduces modern, affordable options for those who have struggled to buy into the local market.

$25k rebates for apartment buyers at Toorak Park

DCF Property Group has appointed Valeo Construction Group as the builder for its New Johnston apartment development in Abbotsford.&nbsp;

<a href="/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a> marks the first apartment development launched in <a href="/developments/abbotsford-vic-3067">Abbotsford</a> in four years.

The development, situated at 398-400 Johnston Street near Victoria Park Station and Victoria Park, comprises 46 one, two, and three-bedroom apartments across nine levels. New Johnston will also include ground-level retail spaces.

[smartcode_project:default project_id=110322 project_image_fid=259888]

New Johnston's streetscape reflects Abbotsford's industrial heritage through the use of concrete, red brickwork, metal detailing, and balustrading.

"New Johnston is contextual to its physical surroundings - the trees, the parks as well as the area's renowned architectural heritage," Calvin Huang, CEO of <a href="/developers/dcf-property">DCF Property Group</a>, said.

The northern façade, with its depth and stepped design, provides natural light to the interiors and offers sweeping views of Victoria Park.

[smartcode_project:default project_id=110322 project_image_fid=259890]

Andrew Zunica, Principal of Zunica Design, said the intention for New Johnson was to create a connected series of tranquil spaces through the repeated use of natural materials.

"Warm timbers envelop the apartments, stone wraps into service areas, and brass details punctuate in delicate proportions," Zunica said.

"The connection to exterior views and natural light is ever present, creating a sense of constant calm and refuge throughout the day."

Returning home to New Johnston, the cascading greenery and avenue of mature trees adorning a covered laneway separates the hospitality, office, and retail spaces on the lower levels from the residential apartments above. This walkway also guides residents to the basement car parking, bicycle parks, and a central courtyard garden.

[smartcode_project:default project_id=110322 project_image_fid=259900]

The 46 apartments will feature open floor plans, private balconies, and dual-aspect views, with interiors showcasing high-quality fixtures, warm natural timbers, concrete, and modern finishes.

At the heart of each apartment lies a kitchen boasting white terrazzo-style stone benchtops, engineered timber floorboards, and stone and mirror finishes, complete with premium Westinghouse appliances and innovative storage solutions.

[smartcode_project:default project_id=110322 project_image_fid=259898]

With a WalkScore of 90, New Johnston's location offers residents easy access to a range of amenities, including the Yarra River, Victoria Park, and prestigious schools.

<a href="/builders/valeo-construction">Valeo Construction Group</a>&nbsp;is forecasting New Johnston will be complete in late 2025. Jellis Craig Projects Director Stephen Bowtell is marketing New Johnston.

[smartcode_project_cta:default project_id=110322]

Valeo Construction Group is forecasting New Johnston will be complete in late 2025

mikah.m@urban.com.au

Valeo Construction to build New Johnston, Abbotsford new apartments

For decades, the Hills District has been known for its quiet, suburban, community-driven atmosphere, where residents often choose to settle down and stay for the long haul.

Traditionally, the housing landscape in key suburbs like Castle Hill, Kellyville, Dural, and Rouse Hill has been characterized by acreages and large family homes. Even the smallest properties in the area typically sit on blocks of over 600 sqm, which is about double the size of homes in Sydney's inner ring.

Data from the 2021 census shows that over 92 percent of homes in the Hills District are separate houses, while just 0.7 percent are apartments. However, that gap is expected to shift significantly in the next census, as the Hills District is currently undergoing a substantial transformation. This change has been sparked by the development of the $1 billion Hills Showground Precinct and the recent opening of a Metro Station that connects the area to the city.

As a result, a wave of new apartments is being introduced, catering to two demographics that previously hadn't really been in the market: first home buyers and downsizers.

With no apartments available and the typical need to work in the city, first home buyers often looked closer to the CBD. However, with the opportunity to be connected to the city by the Metro in just 33 minutes and more affordable properties being delivered, first home buyers are seizing their chance.

Also taking advantage of this opportunity are downsizers, who previously lacked options for truly low-maintenance, lock-up-and-leave living.

Among the developments launched in the last few years in Castle Hill, the first apartments to sell were the larger, premium units. Developer CPDM designed its new Castle Hill development, <a href="/new-townhouses/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a> specifically to suit the downsizer and owner-occupier market.

They focused on creating a series of low-rise buildings, which are uncommon in new developments. The five buildings are arranged around a central landscaped courtyard, designed to flood the apartments with natural light and bring nature indoors.

[smartcode_project:default project_id=135330 project_image_fid=289164]

CPDM has created two different dwelling types for downsizers: the sky homes, which are top-floor apartments with large floor plans, and three-level townhouses.

The sky homes were designed to harmonize with the natural beauty of Castle Hill. Extensive glazing allows for abundant natural light, while the large balconies are enveloped in landscaping. Designed for downsizers, these apartments include internal lifts.

[smartcode_project:default project_id=135330 project_image_fid=308975]

Some sky homes also feature rooftop terraces, which can include a spa as an added amenity.

The four-bedroom townhouses, also featuring a lift, offer landscaped courtyards with an alfresco area, a built-in bar in the open-plan kitchen and living space, and a master suite with a private balcony.

The townhouses start from just under $3 million.

[smartcode_project:default project_id=135330 project_image_fid=308976]

CoreLogic data shows that 231 houses have sold for over $3 million in the Hills Shire in 2023, with 76 of those selling for over $4 million. Already in 2024, there have been 234 house sales over $3 million, with several months left in the selling season; 74 of these have been over $4 million.

Each apartment in Larool Crescent features interiors by <a href="/interior-designers/coco-republic-interior-design">Coco Republic</a>, and buyers benefit from the building being insured by extended <a href="/news/resilience-latent-defects-insurance">Latent Defects Insurance</a> from Resilience Insurance. This insurance covers buyers in the event of any structural defects in the building for the first 10 years post-completion.

SRG Builders has been appointed to deliver Larool Crescent, which is slated for completion in late 2026.

&nbsp;

[smartcode_project_cta:default project_id=135330]

CPDM has created two different dwelling types at Larool Crescent for downsizers: the sky homes, which are top-floor apartments with large floor plans, and three-level townhouses.

Why now is the best opportunity to downsize in Castle Hill for decades

The largest mixed-use urban development Perth has ever seen is underway in Burswood, with developer Golden Sedayu recently launching their 10-year masterplan, Burswood Point.

<a href="/new-townhouses/burswood-point-saintly-entrance-burswood">Burswood Point</a> will see the 38-hectares around the Belmont Racecourse redeveloped to home 4,500 new dwellings, including apartments and riverfront homes, as well as a full retail and commercial precinct with restaurants,&nbsp;markets, riverside parks, shopping centers, and luxury hotels.

With everything going on at Burswood Point, I caught up with&nbsp;<a href="/developers/golden-sedayu">Golden Sedayu</a>&nbsp;Sales Director, David Dragun, to talk in-depth about Burswood Point and the vision.

<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/ut3cdwqCs5o?si=gTluowsdL1CuoI_j" title="YouTube video player" width="560"></iframe>

Dragun said that the team has worked closely with the local council and government to bring this huge project to life. With the country in a bit of a housing crunch, having a development this big is a huge plus for Perth.

The first stage, Somerset West, has already seen strong interest on the 95 one, two, three and four-bedroom apartments released.

[smartcode_project:default project_id=142314 project_image_fid=228355]

The three-level green title homes include luxury features such as elevators, making them particularly appealing to downsizers seeking long-term living solutions.

Residents will also have access to a range of amenities, including a 25-meter lap infinity pool, gym, sauna, and residents' dining areas.&nbsp;

The project’s scale helps keep strata fees manageable, ensuring affordability while offering high-end facilities. Additionally, the development will feature a mix of retail and commercial spaces, including a café and grocery.

[smartcode_project:default project_id=142314 project_image_fid=263304]

Dragun emphasised the project's appeal to both local and international buyers, with interest coming from across Australia, particularly from the East Coast.&nbsp;

The proximity to key entertainment hubs, the airport, universities, and the city makes Burswood Point a prime location for those seeking a balanced lifestyle.

Perth continues to lead the market in capital growth and projects like Burswood Point are expected to see substantial value increases over time.&nbsp;

[smartcode_project_cta:default project_id=142314]

The first stage, Somerset West, has already seen strong interest on the 95 one, two, three and four-bedroom apartments released

Michael Bird

An insight into Burswood Point, Perth's biggest ever housing project: Five minutes with David Dragun from Golden Sedayu

Brisbane’s Indooroopilly and the Gold Coast’s Coolangatta have appeared in the top 10 list for unit sales across Queensland for the very first time, according to research from InfoTrack.

Indooroopilly, in Brisbane’s western suburbs, has appeared for the first time, coming in at number eight for unit sales, while Coolangatta debuted in ninth.

InfoTrack’s Head of Property, Australia, Lee Bailie, said the established area is just eight kilometres from the Brisbane CBD and offers great buyer appeal. &nbsp;

“Indooroopilly has seen a jump in medium-density apartments in recent years as buyers flock to this convenient location or downsize from the many large houses in the area,” Bailie said. &nbsp;

“It’s also home to the largest shopping centre in Brisbane’s western suburbs, Indooroopilly Shopping &nbsp;Centre, which offers access to a great array of retail stores, cafes, restaurants, and cinemas.”&nbsp;

[smartcode_project:default project_id=94824 project_image_fid=209992]

Also to make the top 10 list for unit sales for the first time was the Gold Coast suburb of <a href="/developments/coolangatta-qld-4225">Coolangatta</a>. After last appearing in the top 10 list a year ago (in Q3 2023), <a href="/developments/broadbeach-qld-4218">Broadbeach</a> made its first appearance for 2024, at number 10 in Q3.&nbsp;

The result confirms the strong attraction of the Gold Coast, with <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a> number one on the list for unit sales once again, a position it’s held for more than two years. &nbsp;

Also to rank highly for unit sales was Brisbane City in second place, followed by Maroochydore in third, with the booming Sunshine Coast suburb up from sixth place last quarter.&nbsp;

[smartcode_project:default project_id=100708 project_image_fid=291148]

InfoTrack’s report showed for house sales, the Gold Coast suburb of Pimpama topped the list, coming in at number one for the very first time. &nbsp;

“Pimpama has been steadily growing in popularity over the past 12 months and is up from fourth spot last quarter, to now be sitting in top spot,” Bailie said. &nbsp;

“Its equal distance to the heart of the Gold Coast and the Brisbane CBD makes it a very attractive &nbsp;commuter suburb, and a new train station is also under construction, boosting accessibility.”&nbsp;

Nearby Upper Coomera came in at number seven on the list.

The InfoTrack figures show houses have retained their position as the most popular property type in Queensland with a share of just over 60 per cent. Strata units had a 27.43 per cent share.&nbsp;

Indooroopilly and Coolangatta grow in popularity as sales surge

Following news of Victoria abolishing stamp duty for 12 months,&nbsp;Federal Housing Minister Clare O’Neil has suggested the time is right to phase out stamp duty all together.

Speaking to ABC RN, Minister O’Neil expressed the Albanese Government’s support for greenfield development and infill of higher-density suburbs, as well as backing calls for stamp duty - a “bad tax”, to be phased out.

Real Estate Institute of Queensland (REIQ) CEO, Antonia Mercorella, said this publicly stated position opened the door for the State Government to work with the Federal Government to phase out Queensland’s outdated stamp duty regime to encourage a higher rate of home ownership.

“Stamp duty presents a considerable barrier to those wanting to buy their first home, and to retirees seeking to downsize their family home,” Mercorella said.

“It also hinders job mobility which affects the productivity of the entire economy, as well as impacting significant life decisions such as starting a family and moving homes."

[smartcode_project:default project_id=108747 project_image_fid=284864]

Mercorella says phasing out stamp duty has the potential to drive a significant trend in ‘rightsizing’ to appropriately sized and located homes, substantially increasing the supply of housing into the market.

“Now is the time for the State Government to start that conversation and begin to negotiate a better GST outcome and incentive fund with the Federal Government in return for stamp duty reform.

“It is a long-standing policy direction of the REIQ to see a phased transition to a land tax-based model starting with first home buyers, as well as abolishment of stamp duty for downsizers aged over 55 moving to a home with fewer bedrooms.

“We appreciate that stamp duty is worth nearly $30bn over the forwards on the Queensland State Budget and that’s why a phased-out approach is best to avoid placing additional pressure on the state’s finances.”

The Allan Government in Victoria has just announced it is&nbsp;<a href="/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">removing stamp duty in full for off the plan buyers for 12 months</a>.

Mercorella says phasing out stamp duty has the potential to drive a significant trend in ‘rightsizing’ to appropriately sized and located homes, substantially increasing the supply of housing into the market

VIC abolishes stamp duty for off the plan apartments - could QLD be next?

The Allan Labor Government will deliver more homes for young people, families and downsizers around 50 train stations and tram stops in Melbourne’s inner suburbs.

In an expansion of the Government’s Activity Centre program, Premier Jacinta Allan and Minister for Planning Sonya Kilkenny visited Middle Brighton Station today to announce the station will form the heart of one of 50 new ‘train and tram zone’ Activity Centres to help deliver more than 300,000 additional homes across Melbourne by 2051.

The new ‘train and tram zones’ encourage more homes around high-frequency train lines – with the first 25 announced today focusing on stations that benefit from the Metro Tunnel and the well-serviced Frankston, Sandringham, Belgrave/Lilydale and Glen Waverley Lines.

Premier Jacinta Allan&nbsp;said building more homes around 50 inner-suburban train stations means young people have more opportunity to rent or buy a place that’s directly connected to public transport.

“I know it won’t fix everything, but it will deliver more homes and new life to inner suburbs that are full of jobs, transport and services – where young buyers and renters are currently locked out.”

[smartcode_project:default project_id=12457 project_image_fid=217233]

Melbourne’s train network has completely transformed over the last 10 years, with more services, more than 50 new or upgraded stations, 84 level crossings gone for good, more to go – and the Metro Tunnel on its way next year.

<ul>
	<li>Seven centres connected to the new Metro Tunnel will enjoy a service boost on new trains – Carnegie, Hughesdale, Murrumbeena, Oakleigh, Middle Footscray, West Footscray and Tottenham Stations. 
	&nbsp;</li>
	<li>Six centres along the Belgrave/Lilydale Line (and the existing Camberwell and Ringwood activity centres) benefit from 5-minute peak services: Hawthorn, Glenferrie, Auburn, Blackburn, Nunawading and Mitcham Stations. 
	&nbsp;</li>
	<li>On the Frankston Line, four centres are located at Toorak, Hawksburn, Armadale and Malvern Stations. All level crossings on this line will go, and trains will return to the City Loop when the Metro Tunnel opens. 
	&nbsp;</li>
	<li>On the Sandringham Line, where eight trains per hour run during peak times, four centres are located at North Brighton, Middle Brighton, Hampton and Sandringham Stations. 
	&nbsp;</li>
	<li>On the Glen Waverley line, where nine trains per hour run during peak times, centres are located at Tooronga Station, Darling Station, plus a combined centre covering both Gardiner and Glen Iris Stations. 
	&nbsp;</li>
	<li>One centre, Toorak Village, is a built-up area along the Route 58 tram. This centre plus Middle Footscray are classified as smaller ‘neighbourhood activity centres’ to plan for more modest growth.</li>
</ul>

The locations for the remaining 25 of 50 ‘train and tram zone’ Activity Centres will be announced in late 2024 with the release of Plan For Victoria – a comprehensive plan to support the future of every community in the state.

[smartcode_project:default project_id=112375 project_image_fid=250357]

All but one of the first 25 of 50 centres are based directly on train stations and all are serviced by trains, following community feedback on the 10 draft Activity Centre Plans emphasising the importance of transport connections.

The 25 centres will be delivered in two tranches over the next 12 months, with timelines to be communicated clearly. The process for all 50 new centres is likely to be complete by 2026.

The 50 new centres add to the 10 initial Activity Centres in Broadmeadows, Camberwell, Chadstone, Epping, Frankston, Moorabbin, Niddrie, North Essendon, Preston and Ringwood – but the plans won’t be the same, because every community is different.

"Activity Centre planning is about building more opportunities and better communities by setting clear expectations for long-term growth, giving the community a say early, and streamlining planning to unblock home building," the VIC Government stated.

"Overall, the vision for train and tram zones is for taller buildings in the immediate ‘core’ at the station, with gentler, scaled height limits and more low-rise apartments and townhouses alongside existing houses in the walkable catchments surrounding."

&nbsp;

The Activity Centre Pilot Program was announced in Victoria’s Housing Statement. Alongside delivering 13,300 new social and affordable homes, and Australia’s largest housing project – the Suburban Rail Loop and its six housing precincts.

Minister for Planning, Sonya Kilkenny, said the program is planning for Melbourne's future.

“This isn’t about overnight change – this is about incremental change that sets Victoria up for the next generation, so we can have more opportunities for young people and better communities for everyone," Kilkenny said.

“Many of these communities have never had a formal plan for their future before, and this process will enhance what’s special about these suburbs while delivering more homes near transport, shops, schools, services and parks.”

The Allan Government has also just announced it is <a href="/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">removing stamp duty in full for off the plan buyers for 12 months</a>.

50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne

Gold Coast builder developer <a href="/builders/alroe-constructions">Alroe</a> has announced the official launch of its boutique apartment development The Finn, situated in the coveted Mermaid Beach enclave.&nbsp;

The $31 million The Finn follows the highly successful debut of <a href="/new-apartments/lune-main-beach-19-21-rankin-parade-main-beach-qld-4217">Lune</a>, another of Alroe’s premier projects, which has quickly attracted significant interest due to its distinctive appeal and high demand in <a href="/developments/main-beach-qld-4217">Main Beach</a>.

Alroe is leveraging a critical market opportunity by delivering ultra-luxury boutique residences along the Gold Coast, a niche market that is currently dramatically undersupplied.&nbsp;

This focused approach presents a distinct alternative to larger high-rise developments, which have faced increasing hurdles in reaching fruition, Alroe CEO Tye Aloe says.&nbsp;

<img alt="The Finn" data-entity-type="file" data-entity-uuid="e5144fa1-b93a-4000-84ee-d9cc478cd45d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-23%20at%208.39.32%E2%80%AFAM.png?VersionId=jcpcOTgVwPePGZYiPM9rFw.096TCIkNj" />

“We’re proud to publicly release the remaining apartments of The Finn, a testament to our commitment to delivering premium boutique residences that cater to a niche market,” Alroe said.

“Our initial success highlights a strong demand for luxury downsizing options in prime locations like Mermaid Beach and affirms the exceptional quality of our offerings.&nbsp;

“We have tapped into a significant market for luxury downsizers who don’t necessarily want to move into large high-rise projects but want to relocate from homes into luxury, well-appointed residences in central locations like Main Beach and Mermaid Beach.”&nbsp;

<img alt="Alroe" data-entity-type="file" data-entity-uuid="1acdfb61-d750-45d5-9faa-17e2a150b55b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-23%20at%208.39.42%E2%80%AFAM.png?VersionId=EcEWZ.PCacmg9ediYpPIAamk4ks8Ze9t" />

The Finn features eight luxury villas with a range of floor plans from 220 sqm to 390 sqm, with each villa offering three bedrooms, 3.5 bathrooms, and a dedicated home office space.&nbsp;

These layouts are designed to cater to contemporary lifestyles with a focus on both functionality and elegance.&nbsp;

The design of The Finn emphasises a deep connection to its coastal setting. The use Venetian render and travertine stone not only reflects the natural beauty of Mermaid Beach but also a timeless quality to the residences.&nbsp;

Each villa features private pools and courtyards, while the two penthouses offer exclusive rooftop terraces with pools and spas.

Prices start at $3,465,000.

“Following the success of our initial launch, we are confident that The Finn will continue to meet the market’s demand for outstanding residential offerings,” Alroe added.&nbsp;

“This strategic release aligns with our goal to offer sophisticated residential solutions, setting us apart from larger high-rise developments that face increasing challenges.”

The Finn features eight luxury villas with a range of floor plans from 220 sqm to 390 sqm, with each villa offering three bedrooms, 3.5 bathrooms, and a dedicated home office space

Alroe announces final release of $31 million luxury development, The Finn at Mermaid Beach

In a significant policy move aimed at stimulating the property market, the Victorian government has announced a major reduction in stamp duty for off-the-plan apartments, units, and townhouses.

Effective from October 21, 2024, the expanded concessions will apply to all eligible off-the-plan purchases and will remain in place for one year.

This initiative, designed to address the state’s housing affordability crisis, opens a window of opportunity for prospective buyers, particularly investors and owner-occupiers, to secure substantial stamp duty savings.

Key Changes to Stamp Duty Concessions

Previously, stamp duty on off-the-plan purchases was calculated based on the total price of the property, including the construction value. Under the new scheme, stamp duty will be calculated solely on the land value before construction begins. This shift in policy significantly reduces the financial burden for buyers, particularly in metropolitan areas where property prices continue to rise.

For example, a Victorian purchasing an off-the-plan apartment valued at $620,000, with the land component valued at $77,500, will now pay just $4,000 in stamp duty—down from $32,000. This $28,000 saving represents a significant reduction in upfront costs for property buyers, potentially unlocking the market for a wider demographic.

The changes also eliminate the previous cap on concessions, expanding eligibility beyond first-home buyers to include any purchaser of off-the-plan apartments, units, or townhouses within a strata subdivision.

<a data-entity-type="file" data-entity-uuid="69bb2163-758b-4133-85ae-a669cf3061bb" href="/developments/melbourne-vic"><img alt="Search New &amp; Off-the-Plan Property across Victoria" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-21%20at%208.49.26%20am.png?VersionId=tO1ATB0FSWLbOgFkHuqwpy6iUKclkflP" /></a>

Who Benefits from the Scheme

The new stamp duty concessions are aimed at boosting sales in Victoria’s off-the-plan sector, which has been slowing due to high taxes and market uncertainty. The scheme covers properties that are part of a strata subdivision. However, it excludes house and land packages or dwellings not part of a strata subdivision.

Existing concessions for first home buyers remain unchanged. Homes valued up to $600,000 will continue to benefit from full stamp duty exemptions, and concessions apply to properties valued up to $750,000.

A Limited-Time Opportunity for Buyers

The stamp duty concession is a time-sensitive initiative, with the expanded benefits available only until October 21, 2025. Buyers who are considering entering the market are urged to act promptly to take advantage of the scheme, as the concession will revert to its previous structure after this period.

For developments currently under construction, buyers are also eligible for reduced stamp duty, although the exact savings will depend on how much of the construction has been completed at the time of purchase.

Impact on the Market

The Victorian property industry has long advocated for a reduction in stamp duty, arguing that the high upfront cost has acted as a deterrent for both buyers and developers. By lowering these barriers, the government aims to revitalise the market, particularly in Melbourne, where apartment supply has struggled to keep pace with demand.

The concessions are expected to have a positive ripple effect on the rental market as well, as more off-the-plan properties come online. Developers will benefit from increased pre-sale success, helping them to meet financing requirements and commence construction sooner.

What Buyers Need to Know

For those interested in purchasing an off-the-plan property, the expanded stamp duty concessions represent a rare financial advantage. The Victorian government's removal of the concession cap makes this offer more widely available than previous schemes, opening the door for both investors and owner-occupiers to secure valuable savings.

Apartments.com.au will continue to provide updates on off-the-plan developments and related policy changes. Buyers interested in learning more about the stamp duty reduction can explore our latest listings or contact us for further insights into how this change could benefit them.

Summary of Eligibility:

<ul>
	<li>Applies to off-the-plan apartments, units, and townhouses within a strata subdivision.</li>
	<li>Stamp duty calculated based on land value, not total property price.</li>
	<li>Available for one year, ending October 21, 2025.</li>
	<li>No cap on eligibility; open to all buyers, not just first-home purchasers.</li>
	<li>With the Victorian government’s stamp duty concession, now is an ideal time for property buyers to enter the market while this limited offer remains available.</li>
</ul>

Victorian government's stamp duty cuts on off-the-plan apartments, units, and townhouses offer significant savings for property buyers. Learn more about eligibility, how to benefit, and why now is the prime time to buy with these expanded concessions.

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