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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" 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/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Home values have been on the rise nationally over August, on track for the third consecutive monthly rise, according to RP Data Rismark home value index.
The report notes prices have risen a modest 0.3% over the first 17 days of August and unless there is any deterioration in the daily readings over the rest of the month, RP Data's research director Tim Lawless predicts a positive month of value change.
The rises were consistent across all capital cities except Perth, where prices eased 0.9%  over the same period.
Sydney has been the only city to experience price growth for the year to date, with prices rising 2.1% to August. Across all capital cities prices are down 0.5% for the year to date.
If the trend for this month continues it will be the third month running where dwelling values have improved across the combined capital city markets, which Lawless suggests is a good indication that market conditions have moved through the bottom of the cycle.
Although home values have continued to increase over the month, the rate of growth has slowed down.
Values rose by 1.0% in June, 0.6% in July and the report expects the August result to be inline or slightly lower than the growth in values in July.
"With no interest rate cuts over recent months it will be interesting to see whether the slowing continues or momentum builds as we enter the spring selling season," Lawless noted in his <a target="_blank" href="https://blog.rpdata.com/2012/08/capital-city-home-values-continue-to-rise-during-august/">blog</a>.
</body></html>

awalsh-7Ub9EypybQ

Home values on track to rise for third month running, albeit slowing: RP Data Rismark

<html><body>
A private investor has snapped up the distinctive Mitre Tavern in the Melbourne CBD for $6.25 million.
The thriving English-style pub with a Queen Anne feel dating back to its 1910s makeover was passed in at auction last week for $6.05 million.
It had pre-auction hopes of $6.5 million, with selling agents Kristian Peatling and Warwick Bramich saying its current net annual income is $430,000 plus GST.
<a href="https://www.propertyobserver.com.au/news/pints-on-offer-but-few-punters-as-melbourne-watering-hole-the-mitre-tavern-passed-in-at-%24605-million/2012081055960">The August 10 auction drew a large crowd</a> – many from the property industry – but received just two bids
The highest bidder had first right to negotiate with the vendor to purchase the tavern.
The selling agents have not disclosed the identity of the buyer.
Set on Bank Place, between Collins and Little Collins streets, the pub last traded at $6.3 million in 2008 when bought by Toorak investor Ian Hicks from the hotelier Robertson family. There was a $4.6 million transfer in 2006 and a $5.75 million transfer in 2004.
Classified as being of historical and social significance to Victoria, the Mitre claims to hold one of the oldest continuous pub licences, granted in 1868 when a two-storey private dwelling was converted to a drinking house.
The bluestone coaching house Mac's Hotel in Franklin Street has been operating since 1853.
It's being offered with a long-term lease.
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lschlesinger-FZcF9M3vE6

Mitre Tavern sells for $6.25 million to private investor

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ANZ chief executive Mike Smith has played down concerns about the subdued housing market by providing measured commentary on the contraction in house prices as the bank reports underlying profit of $4.5 billion for the nine months to the end of June.
The result was up 5.5% on the previous corresponding period, in line with half-year forecasts.
“There has been a correction in housing prices, but frankly this has been modest and quite orderly,” said Smith in a results briefing today.
Smith says the bank is “not running the business on the hope that the subdued lending environment will end anytime soon”.
“We won’t see pre-GFC credit growth anytime soon in the future,” he said, adding that this was the "new norm".
“We are not seeing anything that surprises us.
"Boring is the new black, and we are happy to be boring."
Smith reported that lending assets grew by 7.7% over the nine-month period, strengthening ANZ's funding profile, and he called the overall result a “solid performance”.
“We are upbeat about the business and where it is heading,” he added.
ANZ chief financial officer Shayne Elliott confirmed this subdued outlook, saying credit trends have been “as expected”.
Elliott says the bank’s retail lending book (mortgages) is performing well, "although there has been some stress in our commercial lending book, but this is not having a material impact".
While big four rival the Commonwealth Bank reported a small contraction on net interest margins on financial products, ANZ said group margins have been stable and Australian margins had increased slightly after declining 13 basis points in first half of the year.
The Australian Financial Review reported that this was a sign that the bank’s contentious decision to adjust interest rates outside of the Reserve Bank of Australia’s cycle on the second Friday of every month was starting to pay off.
However, Smith also acknowledged the decline in customer satisfaction ratings for ANZ – as reported by Roy Morgan – dating to the decision to implement the independent interest rate review.
He said the bank was looking to address this and was working on new initiatives in the Australian network with details to be announced later in the year.
“Market share in traditional banking, household deposits, household lending and commercial has increased despite challenging economic conditions. While asset repricing has been largely offset by deposit pricing pressure the divisional margin has recovered slightly since the end of the first half,” said the bank in a statement.
“The productivity program announced earlier in the calendar year is on track to deliver a half on half decline in expenses. Credit quality is sound and within expectations in both the retail and commercial books including 90 day mortgage arrears which have reduced further from the end of the half."
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House price correction 'modest and orderly': ANZ boss Mike Smith

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Property investing may be simple, but it’s not easy. And that’s not a play on words. 
When you look at the statistics and see that most investors never get past their second property, you realise that most who get into real estate won’t achieve the financial freedom they were looking for. 
While it’s possible to make good money in property, it will be more of an uphill battle in the current slow real estate markets. However, avoiding some classic mistakes will help keep you on the right track. 
So let’s look at them. 
1.  A plan? I’ll just go ahead and buy something 
Deciding you’re going to be a property investor is more complex than just buying a property. Approaching investing without a well thought through strategy that fits in with your long-term wealth creation goals and financial situation is a fool’s journey. 
You would never take off in your car without knowing where you intend to go and how you plan to get there. As a property investor you should map out where you want to be in five, 10 and 15 years’ time, then construct a detailed plan to take you there. 
2.  I can do it all myself! 
All successful property investors build a great team around themselves. I often say that if you’re the smartest person on your team, you’re in trouble. 
However, you can’t blindly hand over financial control to your finance broker, accountant or solicitor.  It’s your responsibility to gain knowledge about the property investment business and become financially smarter – what I call financially fluent. This will teach you the right questions to ask your advisors. 
3. Research? Who needs it 
I’ve met investors who researched the purchase of their new car more carefully than their investment property. 
Many buy their investment close to where they live, where they holiday or where they want to retire. They make emotional purchases in locations that are in their comfort zone. 
The due diligence that goes into purchasing an investment must be more rigorous than that. 
As an investor, there are only three good reasons to “fall in love” with a property: it fits your investment strategy and goals; the numbers work; and it has upside potential. 
Never let your emotions drive your investment decision; that’s what homebuyers do, not people looking to create wealth with real estate. 
4. Losing sight of the big picture 
Sure, property is a long-term investment and the costs of buying and selling are considerable, but that doesn't mean you should fall into the trap of not regularly reviewing your property portfolio. 
Do you own the type of properties that will allow you to take advantage of the next property cycle? 
Remember, over the next few years some properties will strongly outperform others. If you own secondary properties or real estate in areas that are unlikely to benefit from strong capital growth, it may be worth selling up and replacing them with the type of property that will help you develop long-term financial independence. 
When was the last time you checked to make sure you were getting the best rents or that your mortgage was appropriate for the current times? Maybe it's time to refinance against your increased equity and use the funds to buy more properties? 
5. I’m going to buy a property and make millions! 
If you are like me, you get regular emails promising you instant real estate riches. These pander to those investors who are really speculators looking for that one big deal that will make them overnight millionaires. Trust me, these doesn’t exist! 
Warren Buffett wisely said: “Wealth is the transfer of money from the impatient to the patient.” 
Successful investment is about patience and time. It can take two to three property cycles to build a sufficiently large asset base to allow you to fire your boss. 
7. I’m looking for a bargain! 
Sure you make your money when you buy your property, but you set yourself up for property investment success by buying the right property, not a cheap property. 
8. A lick of paint and I’ll make a killing!
Popular TV shows like The Block have created a new generation of “want to be” renovators and developers. 
I’m all for adding value through renovations; but you can’t buy a property, do minimal work and then sell it at a profit, because stamp duty, buying and selling costs and tax eat away at your profits. 
On the other hand, buy, renovate and hold in the long term is a great investment strategy. 
9. Risks? Bah-humbug! Bring on the rewards! 
Some investors don't understand the risks associated with property investment and therefore don't manage them correctly. 
Strategic investors don't only buy properties; they buy time by having financial buffers in place to not only cover their negative gearing, but to see them through the down times like we have experienced in the last few years. 
Another way smart property investors protect their assets is to buy them in the correct ownership structures to legally minimise their tax and protect their assets. Most wealthy property investors own nothing in their own names, but control their assets through companies or trusts. 
The reality is that if investing in real estate were easy, everybody would be successful at it. Fortunately, many of the struggles that investors endure can be avoided with proper education, planning and due diligence.
Michael Yardney is the director of <a target="_blank" href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a target="_blank" href="https://propertyupdate.com.au/category/property-investment/"> Property Investment Update blog.</a>
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Nine classic mistakes foolish property investors make

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The former South Melbourne headquarters of the Royal College of General Practitioners has been sold with vacant possession for a healthy $9 million  by Lemon Baxter director Paul O’Sullivan.
<img src="/images/stories/2012/08/generalpractitioners.jpg">
The buyers are believed to be proposing a refurbishment and re-lease of the building to take advantage of the improving market.
The Palmerston Crescent property sold to a joint venture between Guy Nelson’s Alpha Partners and the JAK Investment Group.
The four level offering with 3,000-square-metre space had been the home of the medicos for 18 years.
The Royal College of General Practitioners has relocated to East Melbourne.
O’Sullivan says the sale price for the historic site reflects growing confidence in an ever improving property market.
Nelson was formerly Macquarie’s head of property, and JAK is owned by Nelson’s former colleagues Adam Jane and Daniel Knights.
The property also has future high-rise development potential.
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The Royal College of General Practitioners South Melbourne HQ fetches healthy $9 million

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It says something about the astuteness of the Lowy family that the twin vehicle structure they created nearly two years ago is starting to deliver the benefits they envisaged.  While it took some time for the market to warm to the hiving off of half Westfield’s Australian shopping centres into a new Westfield Group-managed entity, this year both entities have significantly outperformed their A-REIT peers in terms of sharemarket performance, with Westfield Group up 30% and Westfield Retail up 26% against an index that is up 16%. The philosophy of the Lowys’ restructuring was to put some distance, but not too much, between their development and property-owning interests while releasing capital from the spin-off of Westfield Retail and lowering its own future capital intensity to improve its returns on equity. It also gave investors purer choices of the types of Westfield exposure they were most interested in. Earlier this year they effectively extended the concept to their US portfolio by selling a 45% interest in a portfolio of 12 centres in the US to Canada Pension Plan Investment Board and separately selling 12 non-core centres for $1.4 billion. The $US2.1 billion US deal released about $US1.8 billion of net cash and again leveraged the returns Westfield Group will receive from its development, leasing and management fees. In gross terms, asset sales in the half raised about $4.8 billion. Today’s Westfield Group result for the June half showed earnings up 31% and a return on capital of 11.4%. As a consequence of the US deal and the start of a $2 billion buy-back (Westfield has spent about $440 million so far) that return on capital should continue to rise. The strategic plan, and Westfield’s willingness to continue to pursue it aggressively, has given it a lot of firepower. The joint chief executives, Peter and Steven Lowy, said today the group now had about $10 billion of capital it could redeploy into higher-returning opportunities. There are quite a few of them already underway or in the pipeline. At present Westfield has $1.5 billion of projects under construction (its share is $1.2 billion), it expects to start new projects costing between about $1.25 billion and $1.5 billion in each of the next two years and says the identified pipeline of future developments is about $11 billion. There is demonstrated potential to recycle some of the capital deployed into those projects, or tied up in existing property assets, by selling interests in them into the existing joint ventures or creating new ones. Westfield’s centres tend to be high-end and have proven themselves through the crisis to be quite resilient despite the continuing difficulties being experienced by retailers here and offshore. In Australia, for instance, Westfield was able to extract increases in its average specialty store rents of 3.2% in the half and had comparable net operating income growth of 3.3% even though overall retail sales rose a meagre 0.9% and specialty retailers experienced only a 0.8% increase. As noted previously, the divergence between the experience of the landlords and their tenants – rents continually rising at rates out of kilter with the tenants’ experience – raises a question mark over the sustainability of the traditional business model for property centre owners at a time when retail is experiencing structural as well as cyclical change. The Lowys, of course, by stripping capital out of the property assets by selling interests in them to third parties have materially reduced their exposure to the prospect that in the longer term that risk becomes a reality.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
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Westfield's twin vehicle structure delivering benefits

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<div class="article-content">
The Golden Door health retreats are for sale. Lasseters International has engaged Jones Lang LaSalle Hotels to sell Cypress Lakes and its other Golden Door health retreats. Lasseters says the strong Australian dollar and poor consumer confidence have had an effect on its revenues.
The retreats, which cost guest  up to $3,500 for a week, have been listed by the Singapore-based casino operator.
The offerings comprise the Golden Door Spa and Health Club adjoining the Sheraton Mirage on the Southport Spit, the Golden Door at Salt south of Tweed Heads and the Golden Door Elysia and Cypress Lakes Resort in the Hunter Valley. The assets could fetch up to $30 million, it's been reported.
Lasseters, which owns the Alice Springs hotel-casino, gained a controlling stake in the listed Cypress Lakes group several years ago and has since moved to full ownership.
Expressions of interest are invited by Jones Lang LaSalle Hotels’ managing director – investment sales Australasia, Mark Durran, and senior vice president – investment sales, Peter Harper, who have been exclusively appointed to handle the marketing process.
The properties can be bought as a portfolio or individually.
The Golden Door at Willowvale was described by its 1993 founder Brian Looker as the world's best health resort.
An overview of the respective assets follows:
<ul>
<li>
Cypress Lakes Resort, Hunter Valley, NSW – Situated on a huge 98 hectare parcel in the heart of the Hunter Valley, the Resort features three food &amp; beverage outlets, extensive conference facilities across four venues, leisure facilities and a championship 18 hole golf course. There are also two large development sites as well as a cellar door (currently leased to Brokenwood) and five acres of grape vineyards. Guest accommodation is provided through the management rights of 146 strata titled villas. The property is currently branded as the Grand Mercure Apartments.
</li>
<li>
The Golden Door Elysia, Hunter Valley, NSW - Located adjacent to Cypress Lakes Resort, the purpose built health retreat is the largest of its type in New South Wales. Opened around eight years ago, it features a restaurant, four conference rooms, 26 treatment rooms, and an array of leisure facilities. Guest accommodation consists of 74 one, two and three bedroom villas which are leased from third parties.
</li>
<li>
The Golden Door at Salt Village, NSW - Situated in the heart of Salt Village, the purpose built two-level day spa features 15 treatment rooms and supporting facilities. Salt Village is a master planned beachfront residential and tourist village. Located adjacent to the Peppers Resort and within close proximity to the Mantra and Bale Resorts, the retreat is perfectly positioned to attract a range of market segments.
</li>
<li>
The Golden Door Willow Vale, Gold Coast, QLD – Established in 1993, the property occupies a large freehold rural allotment and comprises the leasehold interest in 35 privately owned strata titled villas which provide a total of 48 rooms. Guest facilities include a reception area, dining room, retail boutique, day spa, exercise room, gymnasium, tennis court and two swimming pools. 
</li>
<li>
The Golden Door Spa &amp; Health Club at Mirage Resort, Surfers Paradise, QLD – Forming part of the Sheraton Mirage Resort and opposite the popular Marina Mirage precinct comprises a single-level purpose-built facility which incorporates 12 treatment rooms, a retail boutique, gymnasium, 25 metre heated swimming pool and four tennis courts. 
</li>
</ul>
</div>
 
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All three Golden Door health retreats for sale

Suburban Cairns unit investors reaping the highest yields amid Australia's most active 50 rental suburbs

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Sydney’s real estate agents were celebrating this week after a Mosman waterfront property – which had been sitting on the market for three years – sold for what was the second highest price this salubrious North Shore suburb has seen so far this year. 
According to the selling agent, two buyers – a Sydneysider and a buyer from China – ended up vying for the property, which helped push the price above the $11 million mark. And although in this case the local won out, Sydney agents are deeply aware that mainland Chinese buyers are providing a welcome boost for the languishing top end of the Sydney property market. 
Sydney, of course, isn’t alone. Chinese buyers are helping to drive up the price of Hong Kong’s luxury apartments, and are emerging as key players in property markets as far afield as London, Singapore, San Francisco and Melbourne. 
There are two reasons why Chinese buyers have become increasingly interested in acquiring offshore assets such as property. In the first place, there’s mounting concern about the Chinese economic outlook, particularly now that exports are clearly slumping. At the same time, Chinese buyers also see their offshore property purchases as a handy insurance policy, in case of rising political instability in their homeland. 
The latest Chinese trade figures show that the European recession is hitting China hard, with exports growing at a miserable annual pace of 1% in July, down from June’s 11.3% rate. The slowing global economy is a major concern for mercantilist countries such as China – which rely on exporting their surplus savings to the rest of the world and importing excess demand. They reap huge benefits when the global economy is growing, but they pay a high price when global growth falters, and when demand for their exports withers. 
But growing capital outflows represent a major economic challenge for Beijing. For the past decade, the Chinese central bank has been engaged in a massive money-printing exercise aimed at preventing the Chinese currency from rising. Huge quantities of yuan were printed so that Chinese banks could absorb the foreign currency flowing into the country, both from the Chinese trade surplus, and as hot money flowed into the country to take advantage of strong Chinese growth and rising asset prices. 
Now this massive inflow of funds has stopped. According to figures released by China’s central bank this week, Chinese banks were net sellers of 3.8 billion yuan ($597 million) in foreign exchange last month, a clear sign that investors are pulling funds out of the country, and that some exporters are choosing not to convert their foreign exchange earnings into yuan. 
Indeed, over the last 10 months, China’s banks have only purchased 145 billion yuan in foreign exchange, a tiny fraction of the 905 billion yuan that China has earned as a result of its trade surplus with the rest of the world. 
As a result, Beijing is now struggling to support its currency, rather than fighting to stop it from rising. Since the beginning of the year, the yuan has dropped 0.7% against the dollar, and the Chinese central bank has had to battle to stop it from falling even further. 
But the pick-up in hot money outflows is also having an impact on Chinese asset prices. There’s little doubt that the huge capital inflows over the past decade played a major role in pushing Chinese real estate and equity markets higher. Now that they’ve changed course, Chinese asset prices are deflating. The Shanghai Composite Index is down 17% compared with a year ago, while Chinese house prices remain under pressure. 
Beijing will be deeply concerned that falling asset prices are savaging business confidence and causing investment to slide, crippling its attempts to revive the flagging Chinese economy.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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Chinese buyers bolstering Sydney luxury property, but Chinese property market under pressure

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The upmarket inner-Hobart suburb of Battery Point, known for its convict history and million-dollar houses, is Tasmania's most crowded, at 3,069 people per square kilometre. The 0.68-square-kilometre suburb has a population of 2,097, according to RP Data.
The Launceston suburb of Mayfield is the most densely populated Tasmanian suburb outside of Hobart, with a density of 2,326 people per square kilometre.
According to June quarter sales figures from the Real Estate Institute of Tasmania (REIT), Battery Point recorded a  median sale price of $1.08 million off just four recorded sales, making it also one of the most tightly held suburbs in Hobart.
Steve Yannarakis from Knight Frank Tasmania, who both sells properties and lives in Battery Point, says the suburb does not feel crowded.
“It’s like any other inner-city suburb such as Paddington in Sydney or Middle Park in Melbourne,” he tells Property Observer.
“There are no blocks of high-rise apartments.”
Yannarakis says houses are built on small blocks – compared with the large blocks in Sandy Bay – and land values are high.
“It’s the most expensive suburb in terms of value per square metre of land.”
He says the REIT figures on Battery Point, which show just four sales, tend to lag the market.
Yannarakis recently sold a heritage home in Battery Point for $1.3 million that he says will settle in a couple of weeks and is likely to be the highest sale of the year.
Yannarakis says Battery Point is also popular with mainlanders.
“They like to buy here if they move to Tasmania.”
“It has everything that you need. It is very close proximity to the Salamanca Place entertainment strip and Hampden Road Village
“It’s very cosmopolitan, for Hobart anyway.”
Angelina Droblina from Ripple Property, who has a number of listings in Battery point including this <a href="https://www.realestateview.com.au/Real-Estate/30-11-battery-square-battery-point/Property-Details-buy-residential-4296751">two-bedroom unit at Battery Square</a> priced at $330,000 and above, describes it as one of the most exclusive suburbs in Hobart.
“It has loads of historically significant property and is aesthetically beautiful offering a village lifestyle on cusp of the CBD,” she says.
She agrees with Yannarakis that it does not have a crowded feel.
“There is only one very tall building in Battery Point -  Empress Towers - and five other blocks with no  more than 20 or 30 apartments in each.
“It is a very highly sought after area."
She says the REIT June quarter figures reflect the current state of the market.
Her most recent sale was a four bedroom, two bathroom townhouse, which she sold to mainlander, who was buying it for his daughter. It sold for $650,000.
According to realestateview.com.au, there are 23 properties for sale in Battery Point.
They include this striking waterfront home at 58A Napolean Street, one of a number of listings being marketedy Yannarakis, which featured in<a href="/news"> Title Tattle in April this year.</a>
The Maria Gigney-designed home (pictured below) incorporating glass and steel blend with Jarrah timber accents and has views across the Derwent River from the Casino to Hobarts Eastern shore.
{yoogallery src=[images/stories/2012/08/aug15battery]}
The original house dates back to 1962 before being upgraded by owner and pharmacist Greg Kay. It includes a 12.5-metre indoor saltwater lap pool.
Given the small number of sales the change in the median price in Battery Point is statistically unreliable but over the last two years, house prices have shown strong growth, up 27% since June 2010.
According to the REIT, there were  133 sales recorded in inner Hobart over the three months to June, a 2.3% increase over the quarter with the median house price rising falling 5.6% to $435,000.
The institute also found that Hobart was the only location to record an increase for the quarter, of 4.8% to a median of $370,000.
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