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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Sydney-based Oracle Estates has submitted plans for a two-tower apartment project in Brisbane's Spring Hill.

The development at&nbsp;25 Fortescue Street will bring 252 apartments to the burgeoning&nbsp;<a href="/developments/spring-hill-qld-4000">Spring Hill</a>&nbsp;market. The development, at 25 Fortescue Street, will accommodate&nbsp;social and affordable housing.

Tower 1, dedicated to social housing, will rise 14 levels and include 115 apartments, with a mix of 74 one-bedroom, 39 two-bedroom, and two three-bedroom units.&nbsp;

Tower 2, focused on affordable housing, will reach 15 levels and contain 137 apartments, consisting of 24 studios, 73 one-bedroom, 38 two-bedroom, and two three-bedroom units.

The development will also feature 115 parking spaces distributed across two basement levels.

<img alt="25 Fortescue Street" data-entity-type="file" data-entity-uuid="4c018f73-64ca-4fbf-b79d-904f3fe8304f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/25%20Fortescue%20Street.png?VersionId=d2FBCIpfXDPKSE_YDdGBdeari6FzKh0Y" />

Designed by <a href="/architects/rothelowman">Rothelowman</a>, the architectural style of the development is described as a bold subtropical expression, characterised by order, rigour, and simplicity.

"The design seeks humility in its respect for the daily life of future residents. A clear focus on the way in which people will live within this place allows for an outcome that prioritises liveability, functionality, longevity and care; design enabling a simple way of life."

Symmetry and repetition in the building's plan and elevations contribute to a timeless aesthetic, while textured vertical panels and reflective glazing add to the building's visual appeal.

<img alt="25 Fortescue Street laneway" data-entity-type="file" data-entity-uuid="e16bf882-c2ff-41ba-9251-96ea1ae720da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/25%20Fortescue%20Street%20Laneway.png?VersionId=iYAaERQnuOiGXvhCIm5vXMN3zuNpuC_M" />

The development also includes a newly created laneway connecting Little Edward Street and Fortescue Street, serving as both a connective and communal space.

"The masterplan for the site seeks to create a sense of communal engagement. The newly created laneway acts as both a connective space but also a collective one."

This laneway will function as a lobby, play area, garden, work zone, and gathering space, fostering communal engagement and a sense of collective ownership among residents.

Commercial spaces along Little Edward Street,&nbsp;, likely cafes and restaurants, will enhance the street frontage.

Twin apartment towers pitched for Spring Hill

Since its completion two years ago, The Grand Residences in Eastlakes still stands as the newest apartment development in the gateway suburb to Sydney's East.

With the final apartments recently being released to the market, we went down to <a href="/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand Residences</a> to talk to its residents and find out what it's like to live in the development.

[smartcode_project:default project_id=7652 project_image_fid=262590]

There's been a mix of owner-occupiers over the years.

Peter, an interior designer, has been at The Grand Eastlakes since it was completed two years ago, while Prateek had been a tenant in the building before recently purchasing a unit as a rentvestor.

<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/lIoP_MoLzy8?si=BRxJS9rPleS0f0be" title="YouTube video player" width="560"></iframe>

Both owners talked to the quality of what developer Crown Group has created at The Grand Residences, as well as the extensive facilities in the building and the prime location, offering access to Sydney's best beaches and the thriving cafe and dining hubs of Rosebery and Newtown.

Another resident praised the convenience and accessibility of The Grand Residences, noting its proximity to essential amenities such as cafes, supermarkets, and public transport.&nbsp;

Read more:&nbsp;<a href="/news/nsw/the-prime-eastern-suburbs-location-of-the-grand-residences-eastlakes">The prime Eastern Suburbs location of The Grand Residences, Eastlakes</a>

[smartcode_project:default project_id=7652 project_image_fid=262599]

McGrath Projects, and Crown Property Agency, are marketing the final apartments available in The Grand Residences. They've been popular so far with first home buyers, owner-occupiers, and downsizers.

Read more:&nbsp;<a href="/news/nsw/how-the-grand-residences-eastlakes-apartments-stack-up-for-investors">How The Grand Residences, Eastlakes apartments, stack up for investors</a>

[smartcode_project_cta:default project_id=7652]

McGrath Projects, and Crown Property Agency, are marketing the final apartments available in The Grand Residences

Why I bought an apartment in The Grand Residences, Eastlakes: Urban buyer testimonial

In the heart of <a href="/developments/newcastle-west-nsw-2302">Newcastle West</a>, iCIRT-rated developer <a href="/developers/gwh">GWH</a> is crafting a new architectural icon, ONE Apartments on National Park Street.

The under-construction development offers expansive floor plans that are 20 per cent larger than the local market average, catering to a diverse range of homeowners.

Designed by the renowned <a href="/architects/marchese-partners">Marchese Partners</a> in collaboration with local firm CKDS, <a href="/new-apartments/one-apartments-newcastle-west-1-national-park-street-newcastle-west">ONE Apartments</a> consists of two towers, rising 22 and 19 levels, and connected by a four-level podium housing commercial spaces.&nbsp;

[smartcode_project:default project_id=24247 project_image_fid=281096]

With construction underway at ONE Apartments, we visited the onsite display suite on One National Park Street and spoke to&nbsp;GWH's Peter Kunov and George Araujo to find out more about the development.

<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/Auz9mk1aIhw?si=dEkXpV64j62wFaS1" title="YouTube video player" width="560"></iframe>

ONE Apartments&nbsp;will feature 193 one, two, and three-bedroom apartments, each offering open-plan living areas that extend to private winter gardens. These spaces provide residents with stunning views of Newcastle Harbour, Stockton, Merewether, and the Watagan Mountains.

Future residents will have the option to choose between light and dark colour palettes, featuring natural, earthy tones. The interiors are designed with premium finishes, and the kitchens are equipped with top-of-the-range Smeg appliances, blending style and functionality.

Residents will enjoy access to an outdoor heated pool, a state-of-the-art gym, a sauna, a private Ultra HD cinema, and a bookable private function room.&nbsp;

[smartcode_project:default project_id=24247 project_image_fid=281101]

The development also boasts two all-weather rooftop entertainment areas: the Scenic Lounge on the 22nd floor of the South Tower and the Harbourview Lounge atop the 19th floor of the North Tower. These spaces provide 360-degree views of Newcastle, perfect for hosting gatherings or relaxing.

ONE Apartments is within walking distance from Darby Street eateries, parks, the Civic Theatre, Newcastle Interchange, the Honeysuckle foreshore precinct, and various retail stores.

[smartcode_project_cta:default project_id=24247]

Inside ONE Apartments, Newcastle's newest apartment development: Urban's display suit tour

The Grand Residences in Eastlakes in the Eastern Suburbs of Sydney, is the very last development by Crown Group.

The developer’s track record for delivering quality, the Eastern Suburbs gateway location of the project, and the price vs return proposition, are drawing the eye of investors, who have largely been out of the market in the last few years across the country.&nbsp;

It takes a product and an offering like <a href="/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand Residences</a> to bring an investor into the market in this interest rate environment.&nbsp;

Selling agents McGrath Projects and CPA have been fielding interest from both savvy property investors and mum and dad investors since releasing the final apartments in the building – apartments that were held back from sale when the trio of buildings above The Grand Shopping Centre were launched to market in 2018.

We’ve crunched the numbers to see how The Grand Residences stacks up for investors.

<h2>Rental Return*</h2>

The Grand Residences is already home to a diverse mix of owner-occupiers and investors, the latter of whom have been afforded a rare opportunity to secure yields not often seen in the apartment market in Sydney, whether they bought off-the-plan in 2018, or are buying now.

Investors eyeing a one-bed apartment should see a tenant pay between $650 to $700 per week, which, on a purchase price of between $735,000 and $790,000, would bring a minimum gross yield of 4.6 per cent for an investor.

[smartcode_project:default project_id=7652 project_image_fid=262584]

A recent sale within the building – a two-bed, 1.5 bath apartment with a single carspace for $865,000 – was subsequently placed onto the rental market to take advantage of the current rental demand. Within 14 days a tenant was secured at $950 per week, representing a 5.7 per cent gross yield based on the sale price.

This is just one example of the great opportunities available to investors at The Grand Residences.

*The rental return is an estimate based on market research and weekly rents already achieved in the building.

<h2>Depreciation Estimates*</h2>

On top of the strong rental returns, low vacancy rates across Sydney and the anticipated price growth based on the historic performance of Eastern Suburbs property, there are significant depreciation benefits for investors.

Indicative One Bed + Study Tax Depreciation Claimable*

BMT Tax Depreciation reports show the minimum tax depreciation could be around $378,000, an estimate which typically spans for an ownership period of 40 years. The first depreciation estimate is around $16,500 in the first year of ownership, and steadily declines year on year to be around $9,000 by year 10. The maximum depreciation for a one-bed plus study over the same period could be $462,000, with depreciation of the asset starting at over $20,000 in the first year.&nbsp;

Indicative Two Bed Tax Depreciation Claimable*

Depreciation for two-bedroom apartments could be $476,000 over 40 years of ownership, the first year of ownership being a $19,000 deduction at a minimum. The maximum could be $582,000, a first year depreciation of $23,000.

* Please obtain independent advice from a qualified tax accountant based on your personal circumstances

<h2>How does depreciation work?&nbsp;</h2>

Depreciation of an investment apartment refers to the decrease in value of the property over time due to wear and tear and aging of the asset. This concept is important in accounting and taxation because it allows property owners to account for the gradual deterioration of their asset and claim tax deductions as a result.

In practical terms, depreciation recognises that buildings and structures used for income-producing purposes, such as rental apartments, lose value as they age and are used. The depreciation process allows owners to recover the cost of the property over its useful life through annual deductions on their tax returns. This deduction is typically calculated based on the initial purchase price of the property, excluding the cost of land, and spread out over a predetermined period.

[smartcode_project:default project_id=7652 project_image_fid=262581]

From a financial standpoint, depreciation provides a way to offset taxable income generated by the rental property, thereby reducing the owner's overall tax liability. It's a non-cash expense, meaning the property owner doesn't actually spend money annually but rather reduces their taxable income by a calculated amount based on the property's depreciation schedule.

This accounting practice helps investors maintain cash flow while accounting for the long-term decline in the property's value.

<h2>Why The Grand Residences Eastlakes</h2>

The biggest two factors when property investors assess the viability of a new asset are yield and depreciation. The third factor is potential price growth, which is more difficult to forecast. That’s more often done on past performance, and based on both potential development uplift in the area, and a scarcity of stock. 
Eastlakes is a hidden gem that has preserved its charm over the past decade, with limited redevelopment. The Grand Residences Eastlakes stands out as a notable addition to the area, being one of the few new apartment buildings recently completed. The suburb offers a unique opportunity for future growth with ample potential for new developments.

There is also further redevelopment expected next door which will likely see the southern section of the old <a href="/developments/eastlakes-nsw-2018">Eastlakes</a> Shopping Centre transformed into a new mixed-use precinct. If that vision materialises, that will lift the value of The Grand Residences.

[smartcode_project:default project_id=7652 project_image_fid=262598]

With the significant increase in construction costs since COVID-19, driven by material and labour costs, as well as the cost of land, the new apartments will have to be priced significantly higher than what The Grand Residences is currently being offered for.

The Grand Residences was completed in 2022 and won the prestigious Urban Taskforce Australia Development Excellence Award.&nbsp;

McGrath Projects Director, Adam Sparkes, says the building offers incredible value for every cohort of buyers looking at the Eastern Suburbs.

“The building is achieving strong rental yields for the area, and since completion two years ago, properties have been tightly held. The opportunity to buy at this price point and in this location isn’t likely to come around again.”

[smartcode_project_cta:default project_id=7652]

On top of the strong rental returns, low vacancy rates across Sydney and the anticipated price growth based on the historic performance of Eastern Suburbs property, there are significant depreciation benefits for investors

How The Grand Residences, Eastlakes apartments, stack up for investors

Brisbane's affluent suburb of Kangaroo Point is going through a development boom.

The riverside suburb immediately south of the Story Bridge is having its time in the sun, with several developers creating varying levels of density in the area.

The latest application is for a 22-level building at 51 Darragh Street which will home 65 apartments. Like most apartments being offered in <a href="/new-apartments/kangaroo-point-qld-4169">Kangaroo Point</a>, they are targeted at the owner-occupier. There are 58 three-bedroom apartments proposed and seven four-beds.

The apartment sizes on offer will be generous. Internally, the three-bedders start from 129 sqm, with a further 26 sqm balcony. The largest apartments span 239 sqm internally and have balconies as large as 67 sqm.

<img alt="f" data-entity-type="file" data-entity-uuid="39777a2d-68df-421e-9677-d4470871d22c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-09%20at%2011.57.22%E2%80%AFAM.png?VersionId=rZj7lYT0JaN6obYhrn3ExL8vhlr4a9DB" />

&nbsp;

&nbsp;

Each apartment is designed by <a href="/architects/peddle-thorp-architects">Peddle Thorp Architects</a> to offer significant river and city views, with a large, north-facing balcony providing ample outdoor living space, good shading in warmer months, and excellent solar access in winter.

Occupying a 1272 sqm site, the development dedicates over 73 per cent of its area to recreation and landscape spaces.&nbsp;

Ground level facilities include two tennis courts (one covered), a 25-metre lap pool, and shady lawns surrounded by deep planting areas and the retention of established hedges on the eastern and southern frontages.&nbsp;

These amenities are intended for both the development's residents and those living in the Dockside precinct.

A public through-site link will be provided via a stair and lift to access the tennis court and gym and a pergola designed to block views to the dock from the adjacent building.

<img alt="Kangaroo Point 22-storey apartment development" data-entity-type="file" data-entity-uuid="0b90a67b-dbc2-43b2-be76-04d4d189092f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Darragh%20St%20podium.png?VersionId=aTdnZpbXvJnYtDTc_4EXA2weJ3rSul1n" />

There is also a small public coffee shop with external seating and a poolside bar table area enhancing the streetscape.

The rooftop offers another 600 sqm of recreation space. That includes a large swimming pool, covered lounge areas, a 'sunset lounge' with city views, a covered BBQ area with river views, a sunny play lawn, and an exercise area with an outdoor exercise lawn.&nbsp;

<img alt="g" data-entity-type="file" data-entity-uuid="6d33d0a6-d27e-415a-97bc-9897119706ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-09%20at%2011.56.56%E2%80%AFAM.png?VersionId=1.ujN0tTYuK5bFoV0qLup22viVQ629ip" />

Kangaroo Point has been a hive of activity in the last 12 months.

<a href="/news/qld/pikos-property-group-changes-to-kangaroo-point-maroochydore-employment-hub-of-the-sunshine-coast">Pikos Group</a> relaunched Skye Residences, 69 luxury apartments across two buildings connected by a sky bridge on the corner of River Terrace and Main Street.

Pikos is also soon to launch <a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">Gaia</a>, a further 215 apartments across three 15-level buildings at 108 Lambert Street. The development will also create a full acre of inner-city parklands.

More boutique developments have seen huge success recently. <a href="/new-apartments/sorano-house-kangaroo-point-12-hamilton-street-kangaroo-point">Sorano House</a>, on the dress circle Hamilton Street, recently <a href="/news/qld/sorano-house-kangaroo-point-penthouse-breaks-brisbane-record">smashed the price per square metre record</a> for Brisbane.

Each apartment is designed by Peddle Thorp Architects to offer significant river and city views

mikah.m@urban.com.au

First look: Kangaroo Point apartment boom continues with new 22-level tower plans

Hampton's Service Street offers everything that attracts home owners to Melbourne's Bayside.

The tree-lined street sits in a quiet pocket of Hampton, connected to the heart of Hampton where there's the station, shops, and most importantly, the beach.&nbsp;

There's been no new apartment developments on Service Street in decades. Local developer <a href="/developers/noetic-places">Noetic Places</a> identified the 860 metre street as where they wanted to craft something similar to Reunion Place which they developed on the nearby Linacre Road.

Noetic Places, led by Stephen Barrow Yu, worked diligently with local community groups and council to produce something the neighbourhood could be proud of, and something that would have a positive impact on the area.

The recently launched apartment development, Noetic Place, has been designed by <a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;to feature a stepped facade that is designed to offer privacy from neighbouring properties while blending seamlessly with the street's layout.&nbsp;

Noetic Place is located on a 3,662 sqm site toward the western end of Service Street, just 400 metres to the intersection of Service Street and Hampton Street which serves the focal point of the suburb.

In the heart of <a href="/developments/hampton-vic-3188">Hampton</a>, Noetic Place is an eight-minute walk to Hampton Station, where from there is a 20-minute train into the Melbourne CBD.

[smartcode_project:default project_id=134934 project_image_fid=277893]

Hampton's picturesque coastline, with its sandy beaches and cliff-top lookouts, offers year-round enjoyment for swimmers, walkers, and nature enthusiasts.

Hampton Street serves as the bustling heart of the neighbourhood, featuring an array of specialty stores and eateries. Residents can enjoy fresh produce from the local grocer, baker, gourmet delicatessen, juice bar, and fruit market, all just moments from home.

The retail strip of Hampton Street is also home to a diverse selection of boutiques and amenities. From local designer goods and homewares to antique stores and lifestyle activities such as yoga and day spas, Hampton Street caters to a wide range of interests and needs. This vibrant hub is a short walk from Noetic Place, making it a convenient destination for daily essentials and leisurely pursuits.

Families will find several reputable education options within proximity to Noetic Place. Schools such as Hampton Primary School, Sandringham Primary School, St. Mary's School, Sacred Heart School, and St. Leonard's College are all within 800 metres of Hampton Street, providing a variety of choices for quality education.

[smartcode_project:default project_id=134934 project_image_fid=277880]

Noetic Place itself comprises 33 large-scale two and three-bedroom apartments spread across three levels.

The development also prioritises green spaces, with local landscape architect <a href="/landscape-architect/eckersley-garden-architecture">Eckersley</a> retaining established trees on-site and introducing curated pockets of local and native flora.&nbsp;

Construction by&nbsp;<a href="/builders/vcon-builders">VCON Builders</a> on Noetic Place is set to commence later this year, with completion staged for 2025.

[smartcode_project_cta:default project_id=134934]

The peaceful heart of Hampton: Around the tree-lined location of Noetic Place

Deicorp has launched its first apartment project in Rhodes, as the prominent developer continues to expand its footprint Sydney-wide.

The new development, <a href="/new-apartments/marquet-mary-rhodes-1-9-marquet-street-rhodes-nsw-2138">Marquet &amp; Mary</a>, will bring 212 apartments to the heart of <a href="/developments/rhodes-nsw-2138">Rhodes</a>, directly connected to Rhodes Central shopping centre and within walking distance of Rhodes Train Station.

Named after its positioning on the corner of Marquet and Mary streets, the 32-level tower has been designed by&nbsp;<a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;following a design excellence competition.

[smartcode_project:default project_id=141515 project_image_fid=287869]

There are one, two and three-bedroom apartments on offer, each with views of either east back to the Sydney skyline, or west to the Blue Mountains.

True to Deicorp's vision of not only creating a tower but instead creating a community, the apartments will sit above a four-level podium that will include commercial and retail space. Residents will also have access to a rooftop terrace and garden, as well as another courtyard garden.

[smartcode_project:default project_id=141515 project_image_fid=287859]

Deicorp’s Chairman, Fouad Deiri OAM, said the landmark building will bring much-needed new homes to the heart of Rhodes.

“Designed by one of Australia’s leading design practices, FK, Marquet &amp; Mary delivers on Deicorp’s business values of strong design and high-quality amenity,” Deiri said.

FK Partner Craig Baudin said Canada Bay City Council's swift approval of the development application underscores the recognition that this project goes beyond simply providing much-needed housing.

[smartcode_project:default project_id=141515 project_image_fid=287867]

The design by Fender Katsalidis was selected by the City of Canada Bay Council Design Jury for its elegant internal apartment planning, tripartite vertical rhythm of the facade, and human-scaled design of the podium.

The central courtyard will provide light and natural ventilation, while a new public plaza at the southern entrance and a landscaped laneway with active retail use on the ground level aim to connect the greater Rhodes area.

[smartcode_project_cta:default project_id=141515]

Deicorp launch latest Sydney apartment development, Marquet & Mary in Rhodes

Bayside specialists&nbsp;<a href="/developers/lowe-living">Lowe Living</a>&nbsp;is continuing to pad out its new apartment pipeline.

Lowe Living, led by Tim and Emma Lowe, has filed $17 million plans to the Bayside Council for a new Cera Stribley designed development on a 2,730 sqm block at <a href="/new-apartments/31-35-alicia-street-hampton-east">31-35 Alicia Street</a> in <a href="/developments/hampton-east-vic-3188">Hampton East</a>, near Linacre Private Hospital and closer to the sand at Sandringham than Hampton.

The development will home 32 two and three-bedroom apartments and is the latest in a long line of Bayside projects for the Sandringham-based developer.

They're is currently selling two other Hampton developments,&nbsp;<a href="/buildings/oceano-hampton-by-lowe-living-9-ocean-street-hampton">Oceano on Ocean Street</a>&nbsp;and&nbsp;Hampton Hill on <a href="/buildings/hampton-hill-by-lowe-living">Hampton Street</a>, while they have other active developments in <a href="/developments/sandringham-vic-3191">Sandringham</a>, <a href="/developments/south-melbourne-vic-3205">South Melbourne</a>, <a href="/developments/parkdale-vic-3195">Parkdale</a> and <a href="/developments/armadale-vic-3143">Armadale</a>.

Always targeting the owner-occupier, typically the downsizer, the new plans are for a three-level building which presents as a two-level podium with a recessed third level to Alicia Street.

<a href="/architects/cera-stribley-architects">Cera Stribley</a> said in the documents submitted to council that their architectural vision is a contemporary reinterpretation of the Californian bungalow, a typology that is a hallmark of Hampton's heritage.

"By borrowing, abstracting and reinterpreting elements of this quintessential style - such as strong datum lines, articulated columns, exposed structures, and roof tiles - out design achieves a balance between modernity and familiarity," Cera Stribley noted in their Architectural Design Statement.

"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."

There will be 14 two-bed apartments and 18 three-bed apartments on offer, serviced by 61 parking spacesand 10 bicycle spaces.

The upper level of the building is characterised by exposed structural elements, fenestrations, and large balconies to enhance the depth of the façade, contributing to a balanced and subtle architectural expression.

The podium level is designed with inspiration from the Californian bungalow architectural style, featuring brick materiality to evoke warmth while the modern interpretations of articulated columns create a rhythmic street presence.

A communal lounge and external terrace will be located near the building's entry.

&nbsp;

Cera Stribley said in the documents submitted to council that their architectural vision is a contemporary reinterpretation of the Californian bungalow, a typology that is a hallmark of Hampton's heritage

First look: Lowe Living's latest Hampton apartment development revealed

Joint venture partners Deicorp and PAYCE have launched the first collection of apartments in their $700 million Melrose Park development.

<a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>&nbsp;will form part of the 30 hectare&nbsp;Melrose Park North Urbal Renewal Project&nbsp;near the Parramatta River and will deliver just under 500 one, two and three-bedroom apartments starting from $650,000.

The six buildings designed by <a href="/architects/turner-studio">Turner Studio</a> will sit above a five-level podium that will home a 30,000 sqm shopping centre anchored by a Coles supermarket and supported by several speciality stores, health and wellness facilities, and retail and hospitality venues.

&nbsp;

[smartcode_project:default project_id=134220 project_image_fid=289882]

Melrose Central has been eight years in the making. The initial planning discussions for the unused site kicked off back in 2016.

One of the biggest drawcards to Melrose Central will be how connected it is to Greater Sydney. It will have its own station as part of the Parramatta Light Rail Link which will be two stops to Wentworth Point, near its ferry terminal, six stops to Sydney Olympic Park, and nine stops to Parramatta.

[smartcode_project:default project_id=134220 project_image_fid=289877]

The development will incorporate private communal spaces and reinforce key site links established in the masterplan, dividing the large site into smaller, walkable building footprints.

The project will feature four distinct quadrants, each with its unique colour palette, materials, and place-making elements to emphasise the identity of the corner buildings.

[smartcode_project:default project_id=134220 project_image_fid=289888]

Stage one will see the five-level podium constructed, as well as three of the buildings. They will rise six, 15, and 24 levels, with the same heights planned for the other three buildings.

Early site works kicked off on site back in February. Deicorp is expecting Melrose Central to be complete by 2027. There will be around 6,000 apartments in the broader Melrose Park precinct.

<a href="/developers/deicorp">Deicorp</a>, founded in 1999 by&nbsp;Fouad Deiri, is currently building&nbsp;4,400 new apartments across 11 projects in Greater Sydney.

Their recent applications have been for new precincts in <a href="/news/nsw/first-look-exclusive-deicorp-submit-plans-for-joynton-square-mixed-use-zetland-precinct">Zetland</a> and <a href="/news/nsw/deicorp-lodge-state-significant-development-application-for-1-200-apartments-in-five-dock">Five Dock</a>.

[smartcode_project_cta:default project_id=134220]

Melrose Central has been eight years in the making. The initial planning discussions for the unused site kicked off back in 2016

First opportunity to buy Melrose Central apartments in Melrose Park

Melbourne's stalling property market has to be nearing the bottom.

Recent data published in the Australian Financial Review from property data analytics firm CoreLogic showed the&nbsp;Melbourne median dwelling value is currently 33.1 per cent below the median dwelling value in Sydney. Historically, on average, that gap has been 19.7 per cent.

It's the same story with Brisbane, where values in the Queensland capital are 8.8 per cent higher than in Melbourne. Melbourne is usually 13.7 per cent above.

Considering the widened gap that bucks history, as well as the record low new housing approvals in Victoria, rising construction costs, and the expected surge in population due to migration, it's clear that Melbourne is poised for a prolonged period of growth.

The market won't turn around overnight, and the most recent data from CoreLogic shows a decline of -0.2 per cent in the unit market (apartments and townhouses) over July.

Those declines in the established market have likely come because of increased supply levels, CoreLogic's Research Director Tim Lawless notes, where supply is outstripping current demand.

That's not the case in the new apartment market however.&nbsp;The most recent building approvals data from the ABS showed Melbourne's 3,840 unit approvals in June were -14 per cent down from the month prior.

Over two million new dwellings are proposed to be built by 2051 across Metro Melbourne, almost double the number of existing dwellings currently in the metro area.

<h2>What happened in Melbourne’s off the plan apartment market in July</h2>

Referring back to the lack of supply in the new apartment market, there was only one notable project that moved into a registrations of interest phase.

That's the new Elsternwick development by the design-driven developer&nbsp;<a href="/developers/milieu-property" target="">Milieu</a>, who revealed what is arguably one of its most unique developmens it has produced since being founded 15 years ago.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu has spent the last two years working alongside <a href="/architects/woods-bagot">Woods Bagot</a>, <a href="/landscape-architect/oculus">OCULUS</a> Broached Commissions and <a href="/architects/march-studio">March Studio</a> to create a garden-centric community they’re calling <a href="/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens by Milieu</a>.

The multi-building development, on the site of the former ABC Studios bordering Elsternwick's landmark Ripponlea Estate and gardens, has been designed to focus on nature and landscaping.

Residents will have direct private access to the heritage-listed gardens of the Ripponlea Estate, while its head gardener will tend to the landscaping of Elsternwick Gardens by Milieu on its completion.

[smartcode_project:default project_id=112375 project_image_fid=250363]

There was increased sentiment in the market in <a href="/developments/glen-iris-vic-3146">Glen Iris</a> where&nbsp;Projects by Buxton Director Heath Thompson sold four apartments in the last few weeks at <a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>&nbsp;which will no doubt encourage the market heading into the spring selling season.

Thompson said three of the four buyers went from enquiry to sale within a week.

"We [Melbourne] haven't had that sort of conversion timeline for what feels like a very long time," Thompson said.

GALERIE has sold predominantly to downsizers, but the recent purchasers presented a different demographic in the building that is expected to welcome buyers toward the end of the year.

[smartcode_project:default project_id=141969 project_image_fid=222388]

Construction got underway at&nbsp;Abadeen's <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a>&nbsp;apartments in&nbsp;<a href="/developments/malvern-east-vic-3145">Malvern East</a>.

Brompton Construction, the multi-award winning Master Builders Victoria construction firm, has officially commenced construction on the seven luxury apartments on Central Park.

“<a href="/developers/abadeen-group">Abadeen</a>&nbsp;chose Maléa because of its incredible location opposite Central Park in the beating heart of&nbsp;<a href="/developments/malvern-east-vic-3145">Malvern East</a>,"&nbsp;<a href="/content/abadeen-officially-announce-expansion-into-victoria-with-two-luxury-projects" target="">Andrew Leoncelli</a>, who runs Abadeen in Victoria, says.

<a href="/builders/brompton-construction">Brompton Construction</a>&nbsp;is expecting to complete the building in late 2025.

One of Melbourne's most notable developers, Piccolo, filed for its next development as it approaches sellout of its Fitzroy apartment development, A Piccolo House - Gore Street.

[smartcode_project:default project_id=141498 project_image_fid=290942]

This one is in <a href="/developments/kew-vic-3101">Kew</a> where <a href="/developers/piccolo">Piccolo</a> has filed plans for five three-level buildings at 18 Barry Street.

The project, currently referenced as&nbsp;<a href="/new-apartments/piccolo-house-barry-st-kew-barry-street-kew-18-barry-street-kew">A Piccolo House, Barry Street</a>, part of the Piccolo House collection that targets the high-end owner-occupier,&nbsp;will comprise 60 two, three and four-bedroom apartments.

Read more: <a href="/news/vic/first-look-exclusive-piccolo-plot-new-kew-apartment-development">First look exclusive: Piccolo plot new Kew apartment development&nbsp;</a>

Boutique developer Callex Group is also heading to Kew for its latest venture.

Callex is plotting a small development of just seven apartments on an already cleared 1,266 sqm site at 9 O’Shaughnessy Street, walking distance to Kew Junction, Glenferrie Road shopping precinct and Victoria Gardens.

<img alt="First look: Callex Group plan boutique Kew apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_900,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/O%E2%80%99Shaughnessy%20Street%20front.png?VersionId=xSEIYv0SnF7Uyg2M8P5a2yOvond3WHXA" />

The proposed development includes one two-bedroom apartment and six three-bedroom apartments, along with 15 car spaces and six bicycle spaces.

The design by&nbsp;<a href="/architects/carr-design">Carr</a> incorporates elements from the existing built environment, using textures and tones that complement O'Shaughnessy Street and the adjacent Foley Reserve.

Read more:&nbsp;<a href="/news/vic/first-look-callex-group-plan-boutique-kew-apartment-development">First look: Callex Group plan boutique Kew apartment development</a>

CoreLogic's Monthly Hedonic Index showed a -0.2 per cent decline in the value of units (apartments and townhouses) across Melbourne over July, however there was a larger fall in house values (-0.5 per cent).

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