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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Sales are coming thick and fast at Siera Group's luxury Bilinga beachfront apartment development, Pipis.

The burgeoning developer, who is also delivering Tapestry on Chevron Island and is soon to launch a <a href="/new-apartments/exhale-surfers-paradise">new tower on Enderley Avenue</a>&nbsp;just off Northcliffe Beach, has seen a huge uptake from both local and interstate buyers at Pipis, on the quiet strip of sand just north of Kirra.

Around 65 per cent of the buyers so far have been from the Gold Coast and Brisbane, a mix of owner-occupiers, downsizers and investors, while 35 per cent have come from interstate, more specifically outside of Sydney and Melbourne.

The main motivation of the buyers has been to find somewhere that allows them to live on the beach, to walk, swim and surf every day, but paired with a location that offered a more relaxed, slower-paced lifestyle compared to some of the busier Gold Coast beaches.

[smartcode_project:default project_id=138311 project_image_fid=264303]

Pipis comprises just 19 luxury beachfront apartments,&nbsp;17 half-floor, three-bedroom apartments and two two-level penthouses with four bedrooms which will be released to the market later this year.

Designed by&nbsp;<a href="/architects/ellivo-architects">Ellivo Architecture</a>,&nbsp;<a href="/new-apartments/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225" target="">Pipis</a>&nbsp;apartments boast spacious open floor plans spanning from 233 sqm to 314 sqm, with the kitchen, living, and dining areas flowing onto balconies overlooking the beach.

Pipis will be well connected to the Gold Coast, with the&nbsp;new light rail stop set to be just 300 metres away from&nbsp;<a href="/new-apartments/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225" target="">Pipis</a>&nbsp;at Boyd Street.

[smartcode_project:default project_id=138311 project_image_fid=264300]

Siera Group Managing Director Brent Thompson says that while people see the apartments as a home, they also see it as an investment.

"Some of our buyers its an investment as much as a lifestyle play," Thompson says.

"They see the opportunity where they can appreciate good capital growth over the next decade. Those properties are beocming rarer and rarer and baechfront sites are becoming harder to amalgamate."

Thompson says that not only do the apartments present good value compared to the southern states, they represent good value compared to the rest of the Gold Coast.

"When you look at the Tugun, Bilinga beachfront, we're able to deliver 300 sqm apartments for around $15,000 per square metre. Anywhere else that's absolute beachfront on the Gold Coast, like Main Beach, it's more like $25,000 a metre. It's an&nbsp;amazing value proposition."

[smartcode_project:default project_id=138311 project_image_fid=264302]

Pipis is under construction by LPS Group and is expected to be compelted by early-2025.

Siera Group's next development is on Enderley Avenue where they will launch 54 apartments designed by BDA Architecture in the coming months.

[smartcode_project:default project_id=112661 project_image_fid=283645]

There will be two levels of amenity, with the lower level hosting a communal mezzanine with a spa, gym and sauna, and the upper level with a lap pool with pool deck, barbecue alfresco space, a private dining area with a bar and cellar room, a games room, and a space with work from home facilities.

Thompson believes the majority of buyers at Enderley will be local downsizers.

"We want to really elevate the liveability factors of an apartment for a downsizer, and we think, on top of larger sized apartments with good design, we can do that with extensive amenity," Thompon says.

Read more:&nbsp;<a href="/news/qld/the-gold-coasts-hottest-apartment-developments-set-to-launch-in-h2-2024">The Gold Coast's hottest apartment developments set to launch in H2 2024</a>

Local and interstate buyers drive Pipis Bilinga apartments to 75% sold

It might still be eight years out from the 2032 Brisbane Summer Olympics, but there seems to be no end to the boom occurring in both Brisbane's house and unit markets.

Brisbane's unit market is on track to grow over 20 per cent in 2024, based on the performance in the first six months of the year.

June marked another 1.8 per cent value jump in units, taking the value increase up to 10.3 per cent year to date, CoreLogic's latest monthly Home Value Index showed. It's the second best performing unit market in the country this year, only behind Perth (+13.7 per cent).

Brisbane's median unit value is now $622,000. The staggering price growth has seen Brisbane unit values overtake both Melbourne and Canberra to be the second most expensive unit market in the country, only behind Sydney.

<h2>What happened in Brisbane’s off the plan apartment market in June</h2>

The main reason for Brisbane's huge price growth, particularly in the unit market, is the supply issues facing the capital.&nbsp;

There are very few developers actively in market, and those that are are focusing on the high-end, luxury developments that might only comprise a handful of apartments.

That's pushing supply to historic lows, while demand continues to swell due to the relative affordability compared to Sydney, and the prospect of further price growth given the billions of dollars of infrastructure projects underway ahead of the 2032 Brisbane Summer Olympics.

One developer able to move ahead with their project is the Sydney-based <a href="/developers/sarazin">Sarazin</a>. They've appointed Hutchinson's to build their <a href="/developments/woolloongabba-qld-4102">Woolloongabba</a> apartment development, <a href="/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane">Murcia Residences</a>.

[smartcode_project:default project_id=135094 project_image_fid=214681]

Murcia Residences, named after its design influence of the Spanish city, comprises 186 one, two, three, and four-bedroom apartments with open-plan living spaces that integrate indoor and outdoor areas.&nbsp;

Crowning the development will be an infinity pool, accompanied by private poolside cabanas and sun lounges.

Murcia will sit just 500 metres away from the new Cross River Rail Station, slated for completion in early 2025, with the convenient transportation hub set to connect residents to the rest of the city.

[smartcode_project:default project_id=135094 project_image_fid=214651]

There were two notable development applications submitted in June, both in&nbsp;<a href="/developments/newstead-qld-4006">Newstead</a>.

Luxury developer <a href="/developers/fortis" target="">Fortis</a>&nbsp;has tinkered again with their commercial deveopment on Kyabra Street. When they acquired the site in early 2022 when it came with approval for an 11-level timber officer tower.

In February they sought to change the design of the building to create something more in keeping with local architecture.&nbsp;Now those plans are likely to be moot, given the recently submitted plans for a <a href="/architects/bureauproberts">bureau^proberts</a>-designed building with 65 apartments.

<img alt="First look exclusive: Fortis flick offices to apartments in Newstead " data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Kyabra%20St%20east%20pers.png?VersionId=hRC8.BRC23oxayj.iopUAjekM6IBoBtJ" />

The architecture firm suggested in the planning documents that the new proposal better aligns with changing market conditions and the local architectural context.

The new 22-level tower will now house a mix of 54 two-bedroom and 11 three-bedroom apartments.

Jonathan Leishman’s Churchill Development Group is also seeking to add some much needed supply to the Brisbane market, submitted plans for a mixed-use development fronting Breakfast Creek Road.

Dubbed Breakfast Creek Quarter, the proposal aims to transform a 6778-square-metre site into a vibrant residential and commercial precinct.

<img alt="Breakfast Creek Quarter to bring three apartment towers to Newstead" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Breakfast%20Creek%20Quarter.png?VersionId=.q__qZTvUVBhq.eviLHhO_xzuyp21s2W" />

Designed by&nbsp;<a href="/architects/mas-architecture-studio">MAS Architecture Studio</a>, Breakfast Creek Quarter will comprise three towers rising 23, 26, and 28 levels with a total of 752 apartments. Around 80 per cent of the apartments are designated as build-to-rent.&nbsp;

The tallest tower however will feature 164 build-to-sell apartments.

At the ground level, the plan includes an activated laneway and a landscaped civic plaza facing Breakfast Creek Road, envisioned as an extension of Newstead Park, designed to enhance interaction with the streetscape.&nbsp;

The staggering price growth in has seen Brisbane unit values overtake both Melbourne and Canberra to be the second most expensive unit market in the country, only behind Sydney

City Beat July 2024: Brisbane units on course for 20 per cent gains in 2024

Golden Age Group has officially kicked off construction at its Box Hill South townhouse development, Wembley Hill.

Following approval from Whitehorse City Council, Golden Age has started civil works on the Hay Street project of 143 three and four-bedroom homes which are expected to complete in Q3 2026.

<a href="/new-townhouses/wembley-hill-15-hay-street-box-hill-south">Wembley Hill</a>&nbsp;will also feature 13,000 sqm of private green space and parklands curated by landscaper TCL.

&nbsp;

[smartcode_project:default project_id=104627 project_image_fid=222343]

Project architect, <a href="/architects/cox-architecture">Cox Architecture</a>, has selected a neutral palette of brickwork complemented by natural timber accents and vertical greenery. Strikingly individual, each townhome has a unique façade. The project design incorporates a host of energy and environmentally-conscious initiatives, such as rooftop solar panels, provision for EV charging, energy-efficient heating and cooling, and filtered rainwater connection to irrigation and utilities.

Over 60 per cent of the homes in stage one have sold, with buyers drawn to the development due its&nbsp;built-in sustainability which will deliver instant cost-savings for homeowners.

[smartcode_project:default project_id=104627 project_image_fid=222322]

The buyers are mostly young families looking for spacious, low-maintenance housing within the desirable <a href="/developments/box-hill-south-vic-3128">Box Hill</a> High School zone, and young couples taking their second step up the property ladder, moving up from small units.&nbsp;

With the development abutting directly onto Gardiner’s Creek Trail to the south, residents will enjoy immediate access to an abundance of parklands for exercise and recreation. &nbsp;Designed by award-winning Australian landscape architecture practice <a href="/landscape-architect/tcl">TCL</a>, the landscaping plans incorporate the planting of almost 200 trees amid shrubberies that will deliver year-round colour.&nbsp;

[smartcode_project:default project_id=104627 project_image_fid=222339]

The thoughtfully planned townhomes feature light-filled interiors designed by leading interior design firm, <a href="/architects/mim-design">MIM Design</a>, to provide residents with generous access to external views and ventilation, and allow flexible, adaptable living arrangements that support multi-generational living. &nbsp;

Wembley Hill was formerly home to Hays International College and is positioned next to Wembley Park, Box Hill Soccer Club, and Box Hill Golf Club. The location is five minutes drive from the central hub of Box Hill and is in easy reach of high-quality community amenities and public transport.

[smartcode_project_cta:default project_id=104627]

Wembley Hill was formerly home to Hays International College and is positioned next to Wembley Park, Box Hill Soccer Club, and Box Hill Golf Club

mikah.m@urban.com.au

Civil construction starts on Golden Age's Wembley Hill townhouses in Box Hill South

Buyers have dived into Southport’s new $650 million <a href="/new-apartments/regal-residences-imperial-square-59-73-meron-street-southport">Monarch Place</a> with more than $40 million in sales achieved since its release to the market less than a week ago.

Owner occupiers and downsizers make up the largest cohort of buyers in the second stage of Robert Badalotti’s $3.8 billion Imperial Square development in the city’s CBD.

Designed by <a href="/architects/kris-kowalski-architects">Kris Kowalski Architects</a>, Monarch Place will introduce the first new retail and commercial tenancies, laying the foundation for Azzura’s vision of Imperial Square as a world-class destination encompassing residential, retail, commercial, and health facilities.

<img alt="Monarch Place" data-entity-type="file" data-entity-uuid="b7015918-c26b-4e6d-a156-e7da154bedf4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-11%20at%204.10.28%E2%80%AFPM.png?VersionId=RummgNs6m2U7NjIOEmQv3TRnAdKl2xI5" />

Sales to date have featured a diverse mix of one, two, and three-bedroom apartments, starting from $724,000.&nbsp;

The majority of interest has come from owner-occupiers and second homeowners, highlighting the project's broad appeal and the high demand for luxury living in Southport.

"Monarch Place marks a pivotal phase in our vision for Imperial Square and we are not surprised at the level of inquiry and current sales rates," said Badalotti, founder and CEO of Azzura Investments Limited.&nbsp;

“The market in Southport has been crying out for apartments in a precinct that offer all the trappings of masterplanned living.

"Monarch Place sets a new standard in downsizing purchases, offering unparalleled facilities that are unlike any other development ever produced and we are thrilled with the enthusiastic response from buyers, reflecting the demand for a comprehensive living experience in Southport."

<img alt="Monarch" data-entity-type="file" data-entity-uuid="9b379ccc-4654-4ef2-b6b1-f60305af2570" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-11%20at%204.10.23%E2%80%AFPM.png?VersionId=1.QThWw5x1HtQ2fEfQwZiaRCbhp5rV6g" />

Jason Paris, Sales Director of Raine &amp; Horne Elite, said the desire for luxury amenities and the prime location in Southport have driven significant interest in Monarch Place.

"We’ve seen a mixture of one-, two-, and three-bedroom apartments, which is the beauty of Monarch Place - there’s such a diverse mix of apartment offerings to suit everyone. Buyers are drawn to the high-end living spaces that offer both convenience and a vibrant lifestyle."

Buyers were particularly impressed by the attention to detail and high-end finishes of the apartments, as well as the extensive amenities and attractions available at Monarch Imperial Club.&nbsp;

<img alt="Monarch" data-entity-type="file" data-entity-uuid="74122a35-23de-43f4-a2b7-87b37859c943" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-11%20at%204.10.15%E2%80%AFPM.png?VersionId=9lngd8TmewCeXqu4D7RktxcvLqdByRED" />

The residential units include one-, two-, and three-bedroom apartments, two-storey sky homes, four-bedroom apartments, sub-penthouses with plunge pools, and luxury penthouses with private infinity pools.

The vibrant community and convenient location were also major draws for those seeking a modern and comfortable lifestyle.

Residents of Monarch Place will have access to the Monarch Imperial Club, which includes a gym, sauna, indoor pool, beauty parlour, entertainment rooms, cinema, golf simulator, art studio, library, workshop, bar, and restaurant. A 1,500-square-meter childcare facility will also be available on-site.

The soft launch of Monarch Place has demonstrated strong market interest and sets a positive tone for the upcoming construction phase.&nbsp;

Construction on the $650 million Monarch Place will begin in the coming months.

"Monarch Place marks a pivotal phase in our vision for Imperial Square and we are not surprised at the level of inquiry and current sales rates," said Badalotti, founder and CEO of Azzura Investments Limited

Sales flurry at Monarch Place in Southport's $3.8 billion Imperial Square development

Cbus Property and joint venture partner&nbsp;Galileo Group has revised plans for their new North Sydney apartment development following the introduction of new height limit allowances if affordable housing is factored into new developments.

Urban revealed in mid-2022 <a href="/news/nsw/first-look-cbus-lodge-plans-for-striking-walker-street-apartment-tower-in-north-sydney">Cbus' original plans</a> for the new on a prime 3,950 sqm site across 173-179 Walker Street and 11-17 Hampden Street.

They've gone back to the drawing board and brought in Rothelowman to rejig the plans, add more levels, and reconfigure the apartment mix. Cbus is now proposing 258 apartments in a development dubbed East Walker Street.

The tallest building, Hampden House, will now rise 30 levels, three more than previously submitted, and home 161 one, two, three and four-bedroom apartments.

<img alt="Hampden House" data-entity-type="file" data-entity-uuid="f4c8bf77-fe3d-45de-abe7-6d4ff9eed591" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-10%20at%209.19.26%E2%80%AFPM.png?VersionId=r8wwqra28xz02pnuqYwBAzunlzV5pOR3" />Hampden House, the tallest building of the three proposed. Image credit: Rothelowman

Gone are the contemporary terraces that were proposed two years ago. Now a new building, still dubbed Walker Terraces, will span 12 levels and have 78 apartments, 11 of which will be part of the&nbsp;Voluntary Planning Agreement (VPA).

The agreement requires five per cent of the dwellings to be allocated for affordable housing, contributing to the broader effort to increase housing supply in well-connected urban areas.

While the documents submitted to the North Sydney Council suggest 11 apartments will be part of the VPA, they also say the other 67 apartments in Walker Terraces will also be affordable. That triggers the new 10 per cent affordable housing criteria as part of new developments which allows developers to push heights and floor spaces up by 30 per cent.&nbsp;

The term "affordable" means apartments will be offered at around 20 to 25 per cent under market rate.

<img alt="Walker House" data-entity-type="file" data-entity-uuid="a65f9123-1c3b-4db8-bb04-2e96db29ab4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-10%20at%209.03.40%E2%80%AFPM.png?VersionId=7vohYQLdImqRxq6ItOw0s8NnkB6Ac1o." /> 
An artists impression of Walker Terraces. Image credit: Rothelowman

There is a third building proposed on the large site, a five-level building connected to Hampden House. That will have a handful of apartments and a rooftop lap pool.

The new application&nbsp;represents the latest iteration in the site's development, which has undergone two previous concept designs.&nbsp;Local architecture and design firm fjmtstudio designed the 2022 plans, after SJB had had a crack on behalf of Avenor, who sold the site to CBUS in a joint venture&nbsp;for around $150 million in 2021.

The new&nbsp;<a href="/architects/rothelowman">Rothelowman</a>&nbsp;proposal&nbsp;aims to address several key issues identified in the previous planning envelope and original development application, the documents suggested.

The issues identified include improving solar access to neighbouring properties, increasing the width of the podium setback for tree planting, and ensuring the facade expression responds to adjacent heritage items.&nbsp;

Rothelowman has incorporated a terraced form at the top of the tower to minimise overshadowing impacts on neighbouring properties, particularly 88 Berry Street and Doris Fitton Park.

<img alt="East Walker ST amenity" data-entity-type="file" data-entity-uuid="29e53101-1fea-4f03-a26b-4f9fb3b7538b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/East%20Walker%20St%20amenity.png?VersionId=GZkNqJIbs6SqtAZJPd2pB65x3UeqXw7h" />

The new proposal also includes a two-level transitional podium that more naturally connects the tower with a smaller building on Hampden Street and allows for more planting areas, allowing the precinct to make a generous offering to the street and neighbourhood as a whole, maintaining the leafy green character of the existing context.

The new design also consolidates communal spaces on the ground floor to provide diverse amenities for residents.

<img alt="East Walker St side" data-entity-type="file" data-entity-uuid="8e16abda-5142-4d10-8f0a-cf31fce71dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/East%20Walker%20St%20side.png?VersionId=Anpl12PQW4c3Qegz1qTRqS_K8BIZguQH" />

On the original submission in 2022,&nbsp;<a href="/developers/cbus-property" target="">Cbus Property</a>’s Chief Executive Officer Adrian Pozzo&nbsp;told Urban the intention is to develop high-end owner-occupier residences in this fabulous location, with views across the eastern side of Sydney Harbour and northern Sydney.

“In recognising the prime location of the site within close proximity of the vibrant and burgeoning North Sydney CBD, we seized the opportunity to create this partnership to deliver this outstanding residential development opportunity,” Pozzo said.

<img alt="East Walker St site" data-entity-type="file" data-entity-uuid="e42032ae-6631-43a1-b1c9-6e9494bb9774" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/East%20Walker%20St%20site.png?VersionId=2c5XoNoNK3.zvGiOU6pidgM10rSG73s1" />

Cbus works nationally on large-scale residential projects. They're currently developing 111 Castlereagh Street, the transformative redevelopment of the former David Jones department store on Castlereagh Street.

The original department store, dating back to 1938, will be restored and converted into a nine-level podium, a mix of commercial office space and retail, while a new structure with luxury apartments will rise a further 20 levels.

Cbus' latest in Brisbane is the recently completed 443 Queen Street, a 47-level tower with 264 apartments, while down in&nbsp;Melbourne their next apartment project will be on the dress circle St Kilda Road, opposite Albert Park, on a <a href="/news/vic/cbus-property-set-for-first-st-kilda-road-apartment-development">prime site they secured late last year</a>.

Cbus Property is a wholly owned entity of Cbus Super, the industry superannuation fund for the construction, building and allied industries.

Cbus Property is a wholly owned entity of Cbus Super, the industry superannuation fund for the construction, building and allied industries

First look exclusive: Cbus and Galileo revise plans for new North Sydney apartment development, East Walker Street

The disastrous structural problems at Mascot Towers, and to a similar extent, Opal Tower in Sydney Olympic Park, have significantly impacted people's perceptions of the off-the-plan apartment market.

Mascot Towers, built by J&amp;B Elias Pty Ltd, was evacuated in 2019 due to cracking walls, while Opal Tower, in Sydney's Olympic Park, saw around a third of its residents evacuated for the same reason six months earlier, on Christmas Eve 2018.

The catastrophic failures of the developers and builders of these two towers, along with the ongoing fallout that continues for Mascot Towers owners even five years later, have been major issues in the Australian building environment.

These two major incidents, which constitute a small portion of the market but capture the headlines more than a completed building with no issue, unfortunately tarnishes the reputation of the broader industry, an industry which is seeking to provide housing for Australians.

Fortunately, significant changes have occurred in the building industry since then. Outgoing Building Commissioner David Chandler, who inspected residential development sites and publicly provided feedback on the construction process, asserts that prospective purchasers of off the plan apartments in NSW now face a more level playing field in their favor over recent years.

"This week, various industry and consumer forums have heard testimonies indicating a more trustworthy market. Purchasers are now empowered to make more informed decisions about investing in one of the largest purchases of their lives," Chandler recently stated.

New consumer-facing tools, such as the iCIRT rating service, have helped educate buyers on who are trustworthy developers and builders. Nonetheless, the 10-year Latent Defects Insurance offered by Resilience, remains unparallelled in instilling confidence.

Their new policy, <a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">Resilience LDI</a>, protects buyers from structural defects for 10 years following the building's completion.

The Mascot Towers fiasco would have played out significantly differently had Latent Defect Insurance been available back then.

Corey Nugent, CEO of Resilience Insurance, believes several issues would not have occurred if the building had been covered by <a href="/news/resilience-latent-defects-insurance">Resilience LDI</a>.

"The first critical factor is build quality," Nugent explains. "Buildings covered by Resilience LDI undergo regular inspections by experts who assess construction quality frequently. This proactive approach ensures that potential problems are identified and rectified in the construction process, long before residents move in."

If any issues impacting structural integrity are missed during inspections, Resilience LDI steps in to protect both apartment owners and developers.

"We implement stringent construction checks to prevent such occurrences in LDI-covered buildings. However, should an issue arise, the policy kicks in immediately to rectify any problems," Nugent adds.

"If the issue renders the building unsafe for occupancy, affected homeowners are promptly provided with fully covered temporary accommodation. There's no protracted process of blaming and finger-pointing among developers and builders."

Developers currently collaborating with Resilience report that prospective buyers are more confident in purchasing properties covered by Resilience LDI. Research data from MatterFact, a data product from Apartments.com.au, shows that 70% of off-the-plan apartment buyers would pay more if their apartment had the Resilience LDI policy.

Leading developers like Deicorp, Abadeen, Urban Property Group, Coronation Property and Princeton have already adopted the Resilience LDI policy for several projects and plan to utilize it in their future developments.

To find out more about Resilience Latent Defects Insurance, <a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">click here</a>.

What would have happened if Mascot Towers had Resilience Latent Defects Insurance 

Following the recent completion of its luxury North Sydney apartment development AURA by Aqualand, leading Australian property group&nbsp;Aqualand&nbsp;is preparing its next landmark project in the area.

It's planning its first hotel and build-to-rent (BTR) project, with the company lodging a Secretary’s Environmental Assessment Requirements (SEARs) request for a mixed-use tower to be built on the site of its existing commercial building at 132 Arthur Street, <a href="/developments/north-sydney-nsw">North Sydney</a>.

The 40-level tower includes a 240-key hotel spread across 12 level below around 225 BTR apartments across 25 levels. It will also feature ground-floor food and beverage offerings, a hotel lobby and conference space.

The project will be centrally positioned in the rejuvenated North Sydney CBD, just 450 metres from North Sydney Station and 250 metres from the Victoria Cross Metro Station, which is due to open in August 2024.

The hotel will capitalise on North Sydney’s lack of mid-range highly curated hotel accommodation by offering an edgy and urban vibe, rather than the standard corporate-style hotel offering.

The project also bolsters the company’s commitment to BTR as an effective model to help alleviate the restricted rental market, which remains an important segment of the local housing sector. Aqualand sees the project as capitalising on the growing demand for high-quality and professionally managed rentable residences ideally located within bustling commercial precincts. &nbsp;

Jin Lin, Aqualand’s Group Managing Director, said <a href="/developers/aqualand-australia">Aqualand</a>&nbsp;is excited to progress its third residential project in the North Sydney Council.

"This project will also see our first foray into the hotel space, which demonstrates our unique ability to pivot to whatever best suits the location.&nbsp;

“We look forward to offering something you’d expect to see in Surry Hills, more so than North Sydney, and have taken inspiration from hotels you’d expect to find in New York’s East Village, Shoreditch in London, or even Berlin.&nbsp;

“We’re envisioning a contemporary ambience, combined with a slick and highly personable front-of-house and professional behind-the-scenes operation, and know this will greatly assist in North Sydney’s ongoing rejuvenation. It will increase North Sydney’s appeal in the tourism sector and help generate a thriving 18-hour economy.

“We’re deeply committed to the North Sydney area as evidenced by our award-winning BLUE at Lavender Bay, which was completed in 2021, the recent completion of our <a href="/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a> precinct at 168 Walker Street, and now this second mixed-use tower."

[smartcode_project:default project_id=30959 project_image_fid=286067]

Aqualand's lifestyle and hospitality arm, Etymon Projects,&nbsp;has delivered four new venues in AURA’s podium level, which are set to open with the rest of the building this month.

"These world-class hospitality venues will be added to Etymon’s existing portfolio in the area, which already includes Loulou Bistro in Milsons Point and Poetica at 1 Denison Street, to further strengthen North Sydney’s appeal as a thriving precinct," Lin says, adding however that their ultimate commitment remains with their future residents.

"We look forward to providing them with an extremely high-quality rental product, with a large range of amenities and services, specifically designed to elevate their lifestyle, while encouraging a sense of community and inclusiveness."

Aqualand is soon to welcome its first residents to AURA by Aqualand, after <a href="/news/nsw/aqualand-officially-opens-landmark-north-sydney-apartment-development-aura-by-aqualand">officially opening the Walker Street building last month</a>.

Designed by Woods Bagot, AURA by Aqualand comprises 386 luxury apartments above the aforementioned two-level curated food and beverage podium.

[smartcode_project_cta:default project_id=30959]

Aqualand plans foray into hotel sector with unique mixed-use hotel and build-to-rent tower in North Sydney

Aqualand plans mixed-use hotel and build-to-rent tower in North Sydney after AURA by Aqualand completion

A sales flurry of four sales in as many weeks has seen GALERIE, the new Glen Iris apartment development by LDS Property, approach sellout.

In a positive sign for market sentiment going into the second half of 2024, the buyers transacted quickly.

Projects by Buxton Director Heath 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.

[smartcode_project:default project_id=112375 project_image_fid=250362]

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.

Only one of the four buyers was a downsizer, another an investor from Perth who bought the apartment for his daughter to live in, and two upsizers.

"It's a positive sign to see an investor come from Perth who isn't chasing a yield given his daugther will live in GALERIE," Thompson says.

"He, like more and more that are enquiring, is understanding the metrics of the supply, demand, and cost imbalance in Melbourne and is expecting compound growth over the medium to long term."

[smartcode_project:default project_id=112375 project_image_fid=250354]

<a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>, backed by Westpac and under construction by award-winning builder&nbsp;<a href="/builders/iurada">Iurada</a>, comprises 29 two and three-bedroom apartments.

Construction has seen the main building structure nearly complete, with Iurada shifting its focus to the internal fit-out of the apartments.

[smartcode_project:default project_id=112375 project_image_fid=256710]

Each unit extends to a private terrace or courtyard, with views over the treetop in its elevated position.

GALERIE has been designed by <a href="/architects/ewert-leaf">Ewert Leaf</a> and sits in landscaping by <a href="/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a>.

The development is located near the intersection of High Street and Burke Road and is well-serviced by various transport options including the nearby <a href="/developments/glen-iris-vic-3146">Glen Iris</a> Station.

[smartcode_project_cta:default project_id=112375]

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

Sales flurry pushes GALERIE apartments in Glen Iris to over 90 per cent sold

Boutique developer Callex Group is 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&nbsp;9 O’Shaughnessy Street, walking distance to Kew Junction, Glenferrie Road shopping precinct and Victoria Gardens.

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 <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.&nbsp;

"Given the varied roof forms and architectural styles on O’Shaughnessy Street and neighbouring streets the design intentionally reads as a singular and recessive form in its massing and materiality, especially to street and the reserve to the south," Carr noted in their submission to the local council.

"Movement through textured render, hit and mix brickwork for screening devices and a layered landscaped proposal all contribute to a design sited comfortably within its context."

<img alt="9 O’Shaughnessy Street KEW DA" data-entity-type="file" data-entity-uuid="3ebe91e1-c861-49e1-b9fb-18064631590f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/O%E2%80%99Shaughnessy%20Street%20reserve%20view.png?VersionId=zLwcY64PZyZlfqEAMuxLpDNQtWKR8DeZ" />

The apartment layouts focus on connecting internal spaces with external environments, ensuring ample daylight, natural ventilation, and views.&nbsp;

Each apartment has primary views towards O'Shaughnessy Street or Foley Reserve, with dual aspects to prevent purely south-facing units.

Landscaped by <a href="/landscape-architect/acre">Acre</a>, new canopy trees will be planted around the front, side, and rear of the property to mitigate visual bulk and provide necessary screening.&nbsp;

<img alt="9 O’Shaughnessy Street KEW site" data-entity-type="file" data-entity-uuid="04500c12-e604-489b-8d4c-d58729932ec0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Kew%20Site.png?VersionId=0b.njkbiGq3_d2GX6rsO.d.MKU9wFJSu" />

The future development will sit near educational institutions including Xavier College, approximately 800 metres east, and Trinity Grammar School, about 1.1 kilometres north-east.

The <a href="/new-apartments/kew-vic-3101">Kew</a> Activity Centre, which features supermarkets and other amenities, is located approximately 850 metres north along High Street.

First look: Callex Group plan boutique Kew apartment development

DealCorp's Bundoora apartment development,&nbsp;Lunar at Polaris 3083, offers a significant prospect for investors seeking to capitalise on the ongoing development and population growth in Melbourne's inner north.

<a href="/developments/bundoora-vic-3083">Bundoora</a>, often called the "capital city of universities," is home to La Trobe University and RMIT University, drawing tens of thousands of local and international students and staff.&nbsp;

This influx, coupled with Bundoora's expected population growth to 65,000 people by 2030, underscores the high demand for housing in an area already experiencing a rental accommodation shortage.

[smartcode_project:default project_id=26577 project_image_fid=260799]

The projected population increase, driven by nearby universities and overall urban renewal, indicates strong potential for capital growth and rental income.&nbsp;

The demand, combined with the area's amenities and transport links, highlights the investment potential of the completed Lunar apartments.

Situated in the heart of Polaris 3083, the <a href="/buildings/lunar-at-polaris-3083-bundoora-72-galileo-gateway-bundoora">Lunar</a>&nbsp;apartments comprise 41 one, two, and three-bedroom units across four levels.&nbsp;

[smartcode_project:default project_id=26577 project_image_fid=284907]

Designed by the award-winning <a href="/architects/clarke-hopkins-clarke-0">Clarke Hopkins Clarke</a>, the residences feature sustainably designed, light-filled living spaces with upmarket finishes and luxury inclusions.&nbsp;

The design's cantilevered sections and recesses ensure the balconies are usable year-round.

The development adjoins La Trobe University and the established Springthorpe estate, ensuring strong connectivity and accessibility in the area.&nbsp;

[smartcode_project:default project_id=26577 project_image_fid=260802]

Residents also benefit from efficient public transport options, including bus, tram, and train services.&nbsp;

Additionally, the area's community facilities, health services, parks, and diverse range of schools make it a well-rounded residential location for all homebuyers.

Polaris 3083 has evolved into a masterplanned community with Woolworths, Dan Murphy's, and 26 other retail outlets, further providing a convenient one-stop shop for residents.

[smartcode_project_cta:default project_id=26577]

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