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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
More Australians are now opting to live alone, pushing up demand for one-bedroom and studio apartments.
Census 2011 data shows there are now 1,888 million lone-person households, 148,000 more than there were in the 2006 census.
The census data also shows there are also 50,000 more one-bedroom apartments than there were in 2006, with numbers rising from 317,000 to 363,000.
Proportionally, one-bedroom apartments account for 4.7% of all property types, compared with 4.4% in 2006.
According to the  government’s State of Australian Cities 2011 report, demand for studio apartments and one-bedroom units looks set to increase as the proportion of people living alone continues to rise.
The proportion of lone households is forecast to grow from 24% to 28% by 2031, according to ABS estimates.
<img src="/images/stories/loners.gif">
Source: ABS
By 2031 there will be more than 3.2 million lone households in Australia, an increase of 1.4 million from the 1.9 million lone households measured in the 2006 census. 
The increase in the number of lone-person households will be highest in the largest capitals, Sydney and Melbourne, but the rate of growth will be equally as high in Perth and Brisbane. 
<a href="https://www.propertyobserver.com.au/new-south-wales/sydney-cbd-s-10-cheapest-studio-apartments-starting-from-%24255000/2012073155743" target="_blank">Property Observer has found the 10 cheapest studio apartments for sale in Sydney CBD, starting from $225,000.</a>
According to the 2006 census, the gender ratio (number of men to 100 women) in lone-person households was 79.4. 
The gender gap is expected to widen further to 77.4 in 2030 due to life expectancy being higher for women than men.
</body></html>

lschlesinger-FZcF9M3vE6

Demand for studio and one-bedroom units to increase as Australians go it alone

<html><body>
First-home buyers in NSW thinking of buying a new home will be eagerly awaiting October 1, when up to $35,240 will be available to them in the form of government handouts.
In Victoria, first-home buyers will get an extra 10% cut from their stamp duty bill from the start of 2013.
However, first-home buyers in the Northern Territory only have until October 1 to receive up to $17,000 in territory government handouts.
Here are the key dates and details you need to know:
 
October 1 
NSW
$15,000 available under First-Home Owner Grant (New Home) scheme 
The <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/">new first-home owner grant scheme kicks</a> in offering $15,000 to first-home owners who purchase or build a new home valued at up to $650,000 up until December 31, 2013, reducing to $10,000 from January 1, 2014.
First-home buyers have the potential to earn up to $35,240 when combined with the existing <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/first_home_new_home/">First Home—New Home</a> scheme, which provides exemptions on transfer duty on new homes valued up to $550,000 (a maximum exemption of $20,240) and concessions on transfer duty for new homes valued between $550,000 and $650,000.
From October 1, first-home owners buying an existing property will not receive any financial assistance from the state government.
For non-first-home buyers, a grant of $5,000 is currently available for new homes purchases, whether off the plan or newly built under the <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">NSW New Home Grant Scheme</a>. It applies for homes up to a value of $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
October 1 
Tasmania
Changes to stamp duty rates and thresholds
From this date <a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">r</a><a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">evised stamp duty rates and thresholds kick in</a>. The top marginal tax threshold rate on stamp duty will be increased from 4% to 4.5%, kicking in at $725,000, up from the current $225,000. The current top marginal tax rate is $6 550 plus $4 for every $100, or part, by which the dutiable value exceeds $225 000. The new top marginal tax rate is $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725 000. The lowest band, where only $20 is payable remains at $1,300 but all the other bands have been widened while the duty payable rates for these bands have also changed. Middle-class Tasmanians will be hardest hit, with duty on a property valued at $375,000 almost doubling from $7,150 to $12,935.
The current and new rates can be<a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers"> found here</a>.
The Tasmanian government also <a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/Property%20Transfer%20Duty%20Calculator?OpenDocument&amp;menuitem=Property%20Transfer%20Duties">provides a calculator </a>to work out how much stamp duty is payable before and after October 1.
December 31
Northern Territory
Cut-off date for $10,000 BuildBonus
This is the last day for Northern Territorians to take advantage of already twice-extended <a href="https://www.nt.gov.au/ntt/revenue/home_assist/buildbonus.shtml">$10,000 BuildBonus</a>.  The scheme provides a $10,000 grant to home buyers and investors, including companies and trustees, that sign a contract to purchase or build a new home (including signing a contract for a house-and-land package), purchase a new unit (including off the plan) or commence construction of a new home as an owner builder, between May 3, 2011 and December 31, 2012 inclusive.
The BuildBonus is not means tested but the value of a new unit or new home or the total construction cost of a new home (including the value of the land on which it is built) is capped at $600 000. The BuildBonus is available to first-home buyers, in addition to the first-home owners' grant. This means that eligible first-home buyers will receive grants of up to $17 000. In addition, buyers purchasing a new unit or land to build a new house may also be <a href="https://www.nt.gov.au/ntt/revenue/calculators.shtml" target="_blank">eligible for stamp duty home incentive schemes</a> of up to $26,730 (the duty owned on the first $540,000 value of a property) and no land tax.
January 1, 2013
Victoria
Increased stamp duty discount for first-home buyers
From the start of the new year, Victorian first-home buyers who qualify for the $7,000 first-home owner grant (FHOG) will <a href="https://www.sro.vic.gov.au/SRO/sronav.nsf/childdocs/-434C7502A60F23E4CA2575A100442158-E11C62FEDA1CD76ACA2575D60028321F-BE036AC37C8DE365CA2579F4001C7B64?open">also be eligible for a 30% reduction in their stamp duty</a> bill with the stamp duty reduction increasing from 20% to 30% for home valued up to $600,000. This is the first part of a phased increase to stamp duty discounts, which will rise to 50% with two further 10% discount increases on January 1, 2014 and September 1, 2014.  The raising of the stamp duty discounts follows the ending of the $13,000 first home bonus on June 30. For details of the stamp duty savings for first-home buyers, <a href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7">click here</a>.
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State by state government housing handouts: The new dates you need to know

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There’s a new wave of financial services migrating beyond the computer and onto phones and tablets, as well as moving into social media such as Facebook.
But as these services migrate onto a device that fits in the pocket, people still need something more.
In my current business, Yellow Brick Road, we’re opening branches at a rate of one per week nationally, simply because people still want face-to-face discussions about their affairs.
The key, in my opinion, lies in the difference between the financial services you can turn into a “product”, and those you cannot.
People are happy to use financial products, but they really want advice.
The Nielsen Pacific Global Survey of Investment Attitudes was released a few weeks ago: 70% of Australians used the internet for banking and investment transactions in the previous three months. But the same survey also found that 54% of Australians had visited a physical bank branch in the previous three months.
This shows a nation that is using products but still need to be able to talk about more complex matters such as mortgages, life insurance and super.
It’s a quaint picture of a technology-driven country with a traditional heart. But the problems are in fact, far from quaint. An example of this could include our superannuation system, which puts the onus for retirement investment on the individual.
The first port of call for most people with super is not an advisor, but a product. The super fund member is mailed a brochure with describes the various products and the member ticks the boxes and sends it back.
The Nielsen survey showed just 16% of Australians currently rely on a financial planner or adviser, while 57% preferred to be in charge of their investment decisions.
Now consider the fact that 70% of investment-focused Australians currently maintain a shareholding of stocks, the worst performing assets.
I believe there are many forces that have pushed Australians away from being advised on their investments and their retirements.
Most banks don’t offer advice unless the customer is a wealthy “private client”; stockbrokers don’t give you the full service unless you have a certain amount to invest; and the superannuation funds have become the product.
That leaves the independent advisers and planners, who many Australians avoid because there is either a trust problem or the costs are perceived to be too great.
More should be done by the superannuation industry, the ASX, the government and regulators to encourage people to seek advice around complex and crucial financial arrangements.
However, people have to show some initiative in these matters and decide what’s really important. Most people who seek expert advice get something out of it: an insurance broker reducing your premiums; an adviser finding a lower fee super fund; a mortgage broker finding you a better loan or an accountant getting you a better tax result.
Aussies need to rethink how they balance financial products with advice. A product fills a need; advice is planning for life.
<div>
<div>Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/" rel="nofollow">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.</div>
<div>
For more, <a target="_blank" href="/news">view our free webinar Refinancing and the Interest Rates Riddle.</a>
</div>
</div>
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mbouris-tauSvXGAM2

Australians need to embrace wise financial planning

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<img alt="55lavander_0000_55lavander.jpg" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/55lavander_0000_55lavander.jpg.jpg" width="400">

Actor Nicole Kidman has not just enlarged her Milsons Point 21st-floor penthouse space in her recent acquisitive property purchasing.

A search of the Latitude building apartment records indicates she has also spent $2.68 million on a 19th floor apartment which is utilised in part as a home office.

The previously unrevealed 2011 home office purchase was through a holding company not previously associated with the international celebrity.

[smartcode_project:default project_id=32227]

Last week the actor settled on the purchase of her adjoining <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/nicole-kidman-expands-her-milsons-point-penthouse/2012073055775">Milsons Point penthouse</a> space at a reputed $7 million outlay on the 21st floor. It improved her Sydney Harbour Bridge views being at the southern end of the block. Kidman's earlier purchase was in 2009 at around $6 million.The initial 21st-floor penthouse acquisition was bought from the Wizard founder Mark Bouris, whose family company bought it off-the-plan in 2005 for $4.75 million.

She's altogether spent about $15.6 million high above Lavender Bay.

Nicole lovers her water views as she's on the Hudson in New York. Her initial condominium investment is on the 12th floor of the West Village's renowned Richard Meier-designed twin Perry Street towers (below left) complex. The 350 square metre fishbowl cost about $US8 million when bought off-the-plan in 2003 in the name of her trustee, sister Antonia. It was reported Kidman had unsuccessfully begged the developers to install a secret passage between the apartment and the garage.

<img alt="nicole-kidman_420" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/nicole-kidman_420.jpg" width="400">

Just two kilometres along West Side Highway from West Village, Kidman subsequently spent $US9.67 million in Chelsea, the heart of Manhattan's art district.

Her two-level, 220 square metre fourth-floor digs (above right) are diagonally across the road from the Gagosian Gallery, and its enormous southern walls are an art collector's dream. The development was marketed as the first high-rise with own-floor garages, which are accessible via a car lift.

Blainey North, the Sydney interior decorator of the moment, has scored the dream decorating design job of the combined 798 square metre penthouse. She’s billionaire James Packer's preferred decorator.

North was first spotted by the mainstream press when shortlisted in the 2005 The Interior Design Awards, but has since barely rated a mention in the Sydney newspaper columns other than when she married Russell Crowe’s personal assistant, Keith Rodger in mid-2011.

North is known to be a fan of art deco with a restrained colour palette, and the use of wood panelling and chrome accents.

Indeed her first home – sold in 2010 to model Lara Bingle at $882,000 – was in an art deco Darling Point apartment complex.

It was a renovated, one-bedroom unit with city and harbour views from most of its 65 square metre space, which North had secured for $700,000.

It featured elegant American oak parquetry flooring.

Her bespoke projects have included the 54 Park Street spa where Nicole Kidman is known to work out.
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Actor Nicole Kidman secures third apartment in Milsons Point Latitude high-rise complex: Title Tattle

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An almost 5% drop in residential properties listed for sale online over July, led by big monthly falls in Melbourne and Sydney, may indicate the housing market is close to entering "recovery mode", according to SQM Research.
SQM Research calculated that online residential listings fell by 4.9% in July led by falls in Melbourne (12.6%) and Sydney (8.7%) to reduce to total listings to 368,081.
This means listings are now down 2.4% when compared to 12 months ago when SQM Research recorded 377,213 residential listings as of  July 2011.
<img src="/images/stories/2012/sqm_research.jpg" width="598" height="183" alt="sqm_research">
SQM Research says that seasonally it is expected that stock will decrease during the winter periods.
However, “a decrease of this magnitude could be seen as the first signal that stock is being absorbed quicker than previous months".
“Indeed, if stock continues to decrease in the months ahead, this could be a potential indicator that the housing market is entering into recovery mode,” says SQM Research.
SQM Research director Louis Christopher added that while it is early days, the July decrease in listings "could be an indicator of a turning point in the market".
“We also note that nationally, there is now less stock on market than this time last year. Brisbane, Darwin, Perth and Sydney all have less listings in the market compared with July last year,” he says.
Apart from the weak Hobart market, where residential listings increased by 0.2% over July (Hobart is also the weakest market over the past 12 months with listings up 29%) all other capital cities recorded declines in online listings over the month.
Melbourne experienced the biggest monthly decline with online listings falling from 55,293 to 48,322 over July – but listings are still 4.8% above the 46,087 recorded in July last year.
Sydney listings fell from 32,390 to 29,574 over July to be down a healthy 10.2% on the 32,917 properties listed for sale a year ago.
There were also strong monthly declines in Canberra (-7.3%) with more modest declines in Darwin (-4%), Perth (-3.5%) and Adelaide (-3%).
Darwin has experienced the biggest yearly decrease with online listings down 28.6% decline followed by Perth (-15.5%) and Brisbane (-11.8%)
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Melbourne and Sydney lead 4.9% monthly drop in online residential listings suggesting market may be entering "recovery mode": SQM Research 

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Following <a href="https://www.propertyobserver.com.au/trends/twitter-debate-fires-up-and-old-rivalries-renewed-over-whether-australian-housing-market-has-bottomed-out/2012080155814">yesterday’s Twitter debate on ABS house prices</a>, the university of Western Sydney’s Steve Keen has remained true to his word and posted commentary on whether the Australian housing market has reached its bottom.
Before this quarter’s ABS data came out, Keen noted Australia’s rate of price decline from its peak lay between the US and Japanese experiences; now it is smack in line with the slow bleed of Japanese prices, but nowhere near the decline experienced in the US.
Keen wrote today, just a few hours before heading into hospital for a knee operation, that he expects Australian house prices will fall further.
But he appears to have tempered his views on the extent of a housing price bubble in Australia, albeit with an ironic shot at his bullish opponents.
“So does this increase mean that the trend of falling prices is now over, and house price growth will resume? No, no more than did the slight increase in real prices back in December 2010 (which we are now only aware of courtesy of a revision of ABS data). What it means is that the trend for decelerating mortgage debt has temporarily reversed.”
Keen highlights the differences between Australian and the US:
“So the bottom line is that Australian house prices are falling more slowly than America’s because Australian consumers are deleveraging much more slowly than their US counterparts.”
He says there are several obvious factors that could explain why:
“Australian mortgages are mainly floating rate, so rate cuts by the RBA very rapidly reduce the debt servicing burden. In the US on the other hand, mortgages are fixed rate.
Government efforts to keep the property Aspidistra flying – ranging from the hardy perennials of the Federal First Home Vendor Grant, Negative Gearing, setting Capital Gains Tax at half the Income Tax rate and exempting the family home, to State-based sales tax exemptions and First Home Vendor Schemes – have succeeded to some degree in enticing new entrants; 
and (irony alert).
There is no Australian house price bubble.”
Keen suggests Australians will most likely have to continue putting up with very high debt servicing costs relative to the rest of the world.
<a href="https://www.debtdeflation.com/blogs/2012/08/02/australian-house-prices-update-june-2012/">Click here for Keen’s full analysis.</a>
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House prices to fall further but even Steve Keen ponders the extent of any Australian property bubble

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Barangaroo South developer Lend Lease will work with casino operator Crown Limited to develop a concept plan for an international hotel at its $6 billion Sydney harbour urban regeneration project.
Lend Lease announced that it had signed an “exclusive dealing agreement with Crown Limited to develop a “world class international hotel resort”.
The agreement with Crown follows Lend Lease announcing last month that it had r<a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478">eceived commitments totalling $2 billion from cornerstone investors for the first of two commercial towers</a> at Barangaroo South as well as securing Westpac and KPMG as tenants in these towers.
Lend Lease Group CEO and managing director, Steve McCann says Lend Lease and Crown will now work towards achieving the necessary development approvals from the NSW Government for the hotel and jointly develop the concept plan for the hotel.
Lend Lease is currently in negotiations with the NSW Government to finalise the hotel location.
“Barangaroo South is a major urban regeneration project that provides a unique opportunity to create a world class commercial, residential, entertainment and mixed use destination on Sydney Harbour," says McCann.
“A key part of Lend Lease’s vision for Barangaroo South is to have a high quality international hotel.
“Since being awarded the right to develop Barangaroo South in December 2009, Lend Lease has been approached by a number of leading international hotel operators expressing interest in the hotel.
“We are very pleased to be working exclusively with Crown Limited given their proven expertise in successfully delivering an outstanding hotel product.”
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Lend Lease partners with Crown on proposed Barangaroo South hotel

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Demand for CBD office space over the first six month of 2012 has almost doubled the 20-year historical average, but  is heavily skewed towards the resource-driven capital cities of Perth and Brisbane, according to the latest Property Council of Australia’s (PCA) Office Market Report.
 
Both the Sydney CBD and Canberra’s vacancy rates tightened over this period, but this was driven by a lack of new stock coming onto these markets rather than from strong demand.
 
Over the first half of 2012 of the year, the PCA calculated that net CBD absorption – the amount of space leased minus the amount of space vacated over a given timeframe – was 243,000 square metres compared to a 20-year historical average of 120,000 square metres.
Of this total, nearly half (115,000 square metres) was absorbed in the Perth CBD with 40,000 square metres absorbed in the Brisbane CBD, with both cities accounting for a combined 68% of total net absorption.
The Brisbane CBD’s net absorption of office space was just behind that of the much larger Sydney CBD office market, which recorded net absorption of 45,000 square metres.
Net absorption in the weak Melbourne CBD office market was 34,000 square metres.
While the Perth vacancy rate eased from 3.3% to 4.2% it remains far ahead as the tightest CBD office market despite a big increase in available CBD office space following the completion of Brookfield’s 45-storey City Square office tower in June, which added 85,000 square metres of office and retail space to the CBD.
Mining giant BHP Billiton is the tower’s anchor tenant, taking 60,000 square metres of space.
<img alt="perthofficev2" height="295" width="605" src="/images/stories/2012/perthofficev2.jpg"> 
The PCA notes that occupied stock in the Perth CBD grew by a “spectacular” 12% (net), posting record supply and record demand.
"In fact, Perth's net absorption was eight times higher than the city’s historical average," noted the PCA.
Furthermore, over the six months to July 2012, the Perth CBD posted the highest demand rate of all CBD markets surveyed of 8%. The demand rate is the amount of space absorbed as a portion of total stock.
The report also identifies the adjacent West Perth market as the tightest non-CBD market with a vacancy rate of only 3.2% followed by Brisbane’s Chermside (5.1%) and the Adelaide Fringe (5.5%)
“Australia’s multi-speed economy is driving office market fundamentals and shaping business confidence,” says Property Council chief executive, Peter Verwer.
“While demand for office space is a buoyant 50% above the 20-year historical average, three quarters of net CBD absorption occurred in just Perth and Brisbane.”
“The hard economics of the resources boom is tellingly reflected in the relative performance of the nation’s office markets.”
Overall the nation’s office vacancy rate was almost unchanged at 7.8% (down from 7.9% in January 2012) and is at its lowest level since 2009.
The Sydney CBD recorded the sharpest six-month fall in vacancies, dropping from 9.7% to 8.2% while the Canberra market also delivered a slight decline in vacancies, from 10.3% to 9.8%.
However, the PCA noted that in both cases, “low levels of new supply combined with stock withdrawals had a bigger impact on the vacancy factor than strong demand”.
Despite negative demand, Adelaide’s CBD also posted a vacancy decrease from 7.8% to 7.7%, due primarily to stock withdrawals.
According to the PCA report, substantially more CBD office stock was added across both CBD and non-CBD markets than was withdrawn over the first six months of the year.
Over 343,000 square metres of new office space was added over the six months to July 2012, more than 50% higher than the 20-year historical average of 211,000 square metres – while only 110,000 was withdrawn, compared to the 20-year historical average is 118,509 square metres.
There is a total of 388,917 square metres of stock due to be added to the CBD markets in the second half of 2012, but the addition of new stock will slow in the next three years with only 404,115 square metres due to come online in 2013, followed by 135,147 square metres in 2014 and 485,056 square metres in 2015.
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Perth and Brisbane dominate record demand for CBD offices in first six months of 2012: Property Council Report

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The preliminary ABS House Price Index for the eight capital cities rose 0.5% in the June quarter, largely due to price increases of 1.4% in Sydney with smaller gains in Perth (0.6%) and Adelaide (0.5%).
Melbourne house prices fell 0.4% over the quarter with Darwin the strongest detached housing market gaining 5.1% over the quarter.
The government statistician also made substantial revisions to March quarter estimates, which now show a 0.1% fall over the first three months of the year compared to a preliminary estimate of a 1.1% fall with big upward revisions for Melbourne (-1.3%, revised from -2.2%) and Sydney y (+0.8%, revised from -1.8%).
Melbourne remains the weakest detached housing market for the 12 months to the end of June, down 4.8% followed by Hobart (-3.2%), Brisbane (-2.7%), Canberra (-2.6%), Adelaide (-1.3%) and Sydney (-0.9%).
Darwin (+12.3%) and Perth (+1.1%) are the only capital city detached housing market to record gains over this 12 month period.
The ABS only provides median house prices up to the December 2011 quarter, showing Sydney at $527,000, Melbourne at $485,000 and Brisbane at $432,000.
For the June 2012 quarter, RP Data-Rismark had capital city house prices down 1.4% to a median of $480,000.
Australian Property Monitors (APM) said capital city house prices increased 0.4% to a median of $545,000.
Residex recorded a 0.7% fall in house prices in the June quarter to a median of $423,000 - but this result is inclusive of regional areas.
The ABS also put out a new ‘Experimental Other Dwellings Price Index’ measuring changes in apartments, units and semi-detached townhouses median prices.
The index shows that the apartment, unit and townhouse market had a smaller drop in price in 2011 than established detached houses.
In the year to December 2011, the new Experimental Other Dwellings Price Index fell in all capital cities with an average fall of 3%. In comparison, the price of established houses for the eight capitals fell by 4.4% over the same period. In Canberra, apartment, unit and townhouse prices fell 0.6% - the lowest annual fall out of all the capital cities. In comparison, established houses fell in price by 1.8%.  Brisbane and Adelaide showed falls of 1.2% and 1.7% for apartments, units and townhouses, compared to falls of 5.4% and 4.5% for houses. This trend also continued in Sydney (–2.1% for apartments, units and townhouses; –3.2% for houses) and Melbourne (–4.6% for apartments, units and townhouses; –5.6% for houses). 
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Capital city house prices up 0.5% over June quarter led by Sydney gains: ABS

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The Gold Coast’s population could rise by 135,000 people over the next 10 years. Past trends suggest this means that between 50,000 and 55,000 new dwellings will need to be built over this 10-year period.
Also (and despite the recent 2011 Census babble – a topic for a future missive), it is unlikely that there will be any meaningful change in the composition of the household structure on the Gold Coast over the next decade. For example, the proportion of couple households without children is projected to increase from 30% today to just 31% by 2021. Similar minor shifts are forecast across all Gold Coast household types. This is largely because three quarters of the population growth on the coast comes from migration and most migrants to the region are young.
Also, the rate of natural increase (ie. births over deaths) has more than doubled across the Gold Coast over the last 10 years. In the early 2000s, natural increase accounted for just 10% of the population growth across the coast. Last year its contribution rose to 25%. This significant increase in births is likely to boost demand for new and affordable detached housing on the Gold Coast in coming years.
Official statistics also suggest that two of the largest growth segments on the Gold Coast over the next decade will be those aged between 25 and 40 years of age and those aged in their late 60s to early 80s. Many, in both demographic growth groups, will be financially constrained.
The younger segment will be looking to buy their first home, and the older group to potentially downsize. Affordable housing options will have the most appeal. Both groups are expected to take a 25% market share of the population growth projected across the Gold Coast over the next decade.
Some recent new housing trends:
<ul>
<li>Just over half (53%) of the new dwelling approvals over the past seven years across the Gold Coast have been for detached houses. Yet over the last two years, detached housing market share has increased to over 60%.</li>
</ul>
<ul>
<li>Close to two-thirds of the “other dwellings” approved across the Gold Coast, again over the last seven years, have been multi-storey apartments, and most were either in Surfers Paradise or in Southport. Many target the short-term tourist market. Just one-third were townhouses. Townhouses are much more affordable than apartments and are typically built for permanent residents. In previous decades (the 1980s and 1990s), most (over 60%) of the attached product approved on the Gold Coast was townhouses. This provided an affordable housing option, which is currently missing on the Gold Coast.</li>
</ul>
<ul>
<li>Two-thirds of the detached houses approved on the Gold Coast are on allotments sized between 450 and 800 square metres. Just under half are still on land between 600 and 800 square metres in size.</li>
</ul>
<ul>
<li>Over the last nine years (calendar 2002 to 2010), there have been 30,500 residential lot approvals (including building units and community title schemes) across the Gold Coast. Over three-quarters (77%) of these have been approved in larger developments with over 50 or more dwellings. Just one-in-six (16%) have been in projects containing between 21 and 50 dwellings and just 6% in projects holding fewer than 20 dwellings.</li>
</ul>
<ul>
<li>Fewer new dwellings, including attached product, are actually being accommodated in “infill” areas across the Gold Coast. Three years’ worth of data now exists in that regard and it shows that in 2008, 72% of the total new dwellings approved on the Gold Coast were within the city’s existing urban area. During 2009 this proportion fell to 57% and during 2010 it was just 51%.</li>
</ul>
Further observations
The existing demographic make-up of the Gold Coast, and in particular its emerging shape, strongly suggests the need for more detached housing. In addition, there are not enough alternate – and more affordable – housing types being supplied onto the Gold Coast market. These alternate housing types include not only townhouses, but terrace homes, “plexes” and in some cases, suburban-based apartment product.
Current trends suggest that the Gold Coast will not be able to accommodate the projected population growth within its existing urban area.
Most of the new development across the Gold Coast takes place within large developments. Increasingly, such large-scale developments cannot be accommodated in “infill” situations. Fragmented ownership plus, now, the rise of NIMBYism, has limited the number of economic development opportunities within the Gold Coast’s existing urban area. Higher purchase costs, smaller dwelling sizes and buyer/end-user profiles are also making new “infill” development less suited to most Gold Coast residents.
The Gold Coast needs to increase its supply of affordable new housing. This needs to be supplied in locations where permanent residents can afford to buy or rent. This can, increasingly, only be achieved outside of the existing urban area and on green-field or broad hectare sites within the urban footprint and in well-serviced locations.
In the immediate and short-term, the market will not bear the entrenched approach, which focuses much of this attention on delivering attached unit dwellings in close proximity to the coast. A better approach would allow for current market conditions (and emerging demand) by leaving open the possibility of more detached housing-based developments.
The irony is that the Gold Coast is actually one of the most undersupplied housing markets in Australia. What is supplied has very little demand, and way too much of it is focused around lifestyle and the discretionary spend. Not enough supply is focused on real life.
The Gold Coast needs to start thinking like a capital rather than a tourist destination or sea change location.
Michael Matusik is the founder of <a target="_blank" rel="nofollow" href="https://www.matusik.com.au">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Readers can follow <a target="_blank" rel="nofollow" href="https://www.matusikmissive.wordpress.com">Michael's blog</a> or follow him on <a target="_blank" rel="nofollow" href="https://www.twitter.com/michaelmatusik">Twitter</a> – five tweets a day, some of which are on the property market.
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