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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
Just like the economy, the housing market represents the forces of supply and demand. Real estate prices will move depending on whether demand for housing is increasing or reducing. And likewise, when supply of housing is increasing or falling. The two forces that make up the market are constantly moving and can be influenced by each other.
The number of residential property listings in the market represents the total current supply of real estate available to buyers*. Since 2010 the supply of residential real estate, as measured by the number of online listings, has rapidly increased. Its low point was in April 2010, when there were 219,000 listings offered nationwide. As at the end of June 2012, there were 387,000 listings – an increase of 76.6%.
Some argue that an increase in listings maybe a healthy sign of the market as it may mean vendors are becoming confident of selling their properties at their desired price. However, all the evidence suggests that total listings rise when there is a downturn in the market due to the fact that vendors are not able to sell their advertised properties within the desired timeframe. And as new vendors enter into the marketplace, they are competing with the existing vendors, thereby creating a build-up of stock.
The ABS reports that national house prices have fallen by 6.1% since the June quarter 2010.
The advantages of watching this measurement of the market is that the data is very timely and the data is complete. These days, real estate listings are updated almost on a real-time basis and are traceable due to the fact that over 95% of all real estate listings are being advertised online (as opposed to print only). SQM Research monitors these online real estate listings via the country’s major real estate listings portals including Domain and real estate.com.au, among others.
For those who are interested in this measurement, SQM research has charted this information on every postcode In the country back to 2008. You will find this information available for free on our website, <a href="https://www.sqmresearch.com.au/" target="_blank">www.sqmresearch.com.au</a>
Right now, we are witnessing various trends when considering the listings at the capital city level. For Perth and Brisbane, we are now recording trends that suggest total listings are peaking and slowly declining, which suggests to us that there might well be more buyers in these two markets than what was the case 12 months ago.
<a target="_blank" href="/news">RP Data research also shows that the number of listings in Perth and Brisbane is declining.</a>
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly12.gif"><img src="/images/stories/2012/07/sqmjuly12thumb.gif"></a>
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly121.gif"><img src="/images/stories/2012/07/sqmjuly121thumb.gif"></a>
*excluding what is called shadow stock (properties that are known by some participants, e.g real estate agents, that might be available if the price was right, but for now, it is not being advertised.)
On the other hand, Sydney is not at this stage recording any material decline in listings. Rather, stock levels are elevated when considering historical supply. That said, listings no longer are increasing as what transpired over 2010 and 2011. This suggests to us that the housing downturn Sydney is experiencing is no longer getting worse, however market condition could not yet be described as "improved".
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Meanwhile Melbourne as at the end of June recorded a new high on our index.
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While Hobart is at near the high on our index, however it seems listings may have peaked over recent months.
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Overall, given the amount of stock on the market we believe it is a clear indication of a buyer’s market, whereby buyers have plenty of choice and, barring exceptions, are in a better negotiating position.
Some have argued that many of the listings may represent sellers who are not willing to meet the market and so the supply numbers may be overstated. We believe that such an assessment is rather simplistic. The reality is that the property is being offered for sale, which is competing with other properties on offer in the market place. Our advice for those who have their property on way above the market is to either meet the market or withdraw their property. Given the fact that the market is not moving up, it is very unlikely such properties will sell in this current state of the cycle.
In the end, sellers who take this approach are wasting their own time and advertising dollars, not to mention the efforts of those working with them to sell the property.
Louis Christopher is managing director of <a target="_blank" href="https://www.sqmresearch.com.au/index.php">SQM Research. </a>
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Brisbane and Perth residential stock on market declining, while Sydney static and Melbourne at new high

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Real estate group LJ Hooker will start advertising its residential and commercial listings on Chinese real estate listings portal Juwai.com following the signing of a partnership agreement between the two organisations.
The agreement will allow LJ Hooker to market its properties directly to Chinese buyers and others in Asia via Juwai.com.
Georg Chmiel, chief executive of LJ Hooker, says the real estate group has invested heavily in the online and digital space and the partnership with Juwai.com will “further expand the online reach of our residential and commercial listings and provide access to one of the fastest-growing markets for our clients”.
Chinese investors spent $4.2 billion on Australian real estate in 2011, representing about $48 million in estate agent commissions.
LJ Hooker is the first real estate network in Australia to enter into a partnership with Juwai.com, which launched in December last year.
Juwai.com promotes itself as the largest international property search and information platform for Mandarin-speaking Chinese consumers and says that 84% of its traffic comes from high-net-worth Chinese buyers.
The site has also been adopted by global Chinese communities living in Hong Kong, Taiwan, Macau, Singapore and Malaysia, providing Juwai.com customers with comprehensive exposure within China and across south-east Asia.
LJ Hooker was one of the first real estate firms to establish a physical presence in China, setting up an office in Shanghai in 2004.
“We are delighted to have LJ Hooker join Juwai.com, and to play the lead role in the network’s reach into China and south-east Asia,” says Simon Henry, co-founder of Juwai.com.
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LJ Hooker to market commercial and residential property listings on Chinese portal Juwai.com

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Australian retailers are in for a "retail shakeout" over the next three years, and retailers including Harvey Norman are scaling back plans for new stores in anticipation, according to research by Citigroup.
Citigroup warns that while retail share prices may have halved, the retailers have not yet rationalised floor space.
It highlighted Harvey Norman and JB Hi-Fi as the "most vulnerable" and indeed Gerry Harvey, executive chairman of Harvey Norman, is putting new bulky goods developments on hold.
"We've never stopped like we've stopped at the moment," Harvey toldFairfax.
Harvey Norman opened between five and 15 stores a year in the past but Harvey says now "we're doing very little or nothing."
Citigroup's research found that deflation and online sales will constrain bricks and mortar growth and non-food retailers will need to cut floor space by 10% or more before margins can recover.
It found that many retailers have threatened to close stores, but few have actually done so despite subdued demand, signalling a rocky time ahead for retailers.
"Retail insolvencies were only at a similar level in 2011 as what they were in 2007, before the retail downturn," Citigroup found.
The research is echoed by industry analyst BIS Shrapnel's latest report on the retail property sector which warns that retail turnover growth this decade won't return to the "golden age" that ran from the mid-1990s to the financial crisis.
BIS Shrapnel forecasts that growth over the next five years will average just 2.9% a year, compared to the mid-1990s, which saw turnover growth of almost 5% a year on average in real terms.
Maria Lee, author of the report and senior project manager at BIS Shrapnel, told SmartCompany it was "subdued news for retail."
"It's not a disaster, we are not going back to pre the financial crisis but that was not a normal period, there is a new normal now," she says.
"If you look at total retail spending, we don't think that is going to grow all that fast, as people are saving more than they did pre the financial crisis and they are not spending as much of their household budgets on retail."
Lee says it is "not uncommon" to hear of retailers like Harvey Norman who have put expansion plans on ice.
"There are retailers still expanding but there are certainly some who are putting new stores on hold."
However, Lee says a halt to expansion does not always spell bad news for retailers.
"Quite often it is because they are seeing the internet side of their business growing more strongly so they are investing more in that," she says.
"Internet shopping really has taken hold and all retailers need to be on board, some are still reluctantly coming on and see it more as a defensive move."
Online retailing has a two-pronged impact. There's the obvious effect of taking market share from traditional retailing, but Lee says internet shopping also affects profit margins in store.
"Consumers are using price comparison websites or apps on their mobile phones when in-store, and then demanding a price-match in order for them to buy there and then," says Lee.
"This can have an impact on retailer profit margins."
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Gerry Harvey shelves plans for new stores as retailers warned to get used to a new kind of normal

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What happened to Darrell Lea could happen to Australia. It made the same mistakes Australia is in danger of making. Darrell Lea could never adapt to the fact that the good times had gone and that the old boom-time strategies had to be changed.
Former BHP Billiton chief Don Argus, writing in The Australian today, warns than Australia will face the same problem if China slows. Like Darrell Lea, Australia is basing its finances on a continuation of boom times.
Accordingly, Darrell Lea represents a warning to governments and companies that booms do not last forever and if you enshrine boom-time strategies then come the tough times you suffer badly.
More directly, the collapse of Darrell Lea is a further alert to all retailers and manufacturers: Re-engineer your business to cater for modern trends and improve productivity or you will die. The lesson applies to owners, managers and workers.
In the retail sector, Darrell Lea is no isolated example. We have seen a string of retailers get into trouble including big brands like Myer and David Jones, plus Billabong. Appliance retailers have been particularly hard hit.
Manufacturers and service industries have the same story.
Darrell Lea stores still look almost exactly as I knew them as a child. Yet they don’t have the same magic, even to my grandchildren. Darrell Lea confectionery is not as cheap as supermarket confectionary and many of us now buy former Darrell Lea type purchases via the upmarket brands.
Darrell Lea is in high rent areas and the confectionary margins don’t allow it. A reader says he knew they were in strife when they changed the layers of licorice in the licorice allsorts. I suspect that the company did not invest in the latest manufacturing equipment at a time when more and more confectionary is being made overseas. In other words, productivity did not keep up. Of course it would have been very expensive to substantially curtail local manufacturing because of retrenchment benefits but it would have lowered Darrell Lea retail prices closer to those of competitors.
And if you have an extensive franchise chain, you need to advertise. Darrell Lea did not have the money.
I don’t know how to solve the Darrell Lea problem but I know some of the ingredients in the solution will be more online retailing; lower production costs via importing; a different product range; lower rents and much smarter marketing.
And if you think about it, many of those ingredients are also part of the solution for other enterprises and they are part of the Australian solution. Here at Business Spectator we have been alerting Australia that the lower productivity we are experiencing is not just about unions, IR laws and infrastructure – it's also about bad management. Treasury has woken up to this.
The Telstra Productivity Survey shows that less than one in three enterprises and even fewer government bodies can be bothered measuring productivity (<a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/article/telstra-productivity-survey-australian-economy-it-pd20120323-sn7up?opendocument">Waking up to productivity</a>, March 28). I hope that someone can find a formula to restore Darrell Lea. Eighty-five year old businesses are something special but no matter how old the business, unless its re-engineered to the modern environment, it is vulnerable.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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What happened to Darrell Lea could happen to Australia: Gottliebsen

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Landlords of Darrell Lea's 69 stores are concerned about what the future holds for them after <a href="https://www.smartcompany.com.au/retail/050633-confectionary-group-darrell-lea-placed-in-voluntary-administration" target="_blank">administrators were appointed</a> to the confectionery and chocolate company yesterday.
If Darrell Lea is liquidated the retail stores will need to be released and each centre will deal with that in accordance with their individual leasing policy, according to Simon Fonteyn, founder and managing director of Leasing Information Services.
"Anecdotally there is evidence that leases which go into administration usually carry a higher incentive, but that depends on the quality of the location," he says.
"Landlords as a general rule do not like any vacancies whatsoever, so they will meet the market to get it re-leased."
Fonteyn says if Darrell Lea is sold as a going concern then it is just "business as usual", but a buyer may look at some closures on a case-by-case basis.
"From what I've read there are a number of factors at play. I know that Darrell Lea was well represented in terms of their tenancy; they were paying market rates and were well advised," he says.
"Obviously blind Freddie knows that in retail things are tight but other retailers are weathering the storm, so there are likely to be other factors involved in the collapse."
Darrell Lea's employees are also frightened about their job prospects .
PPB's Mark Robinson said a major review of the business was underway in the hope a buyer could be found to help save the 85-year-old company and its 700 workers.
"At this time it is business as usual and our primary focus is for the employees and store owners that are impacted by this unfortunate event," Robinson said in a press conference yesterday.
"This is an iconic brand which means a lot to Australians and I'm sure it will live on in some form into the future."
Robinson said the company's directors were disappointed and "saddened" by the problems they faced, although he said there was some hope for the business as the administrators had received several unsolicited approaches.
Jennifer Dowell, national secretary of the Australian Manufacturers and Workers Union food and confectionery division, says she is concerned that all 700 employees would lose their jobs if the company was liquidated.
"We don't really know a great deal at this stage. We spoke to the administrator yesterday and we are waiting for them to confirm that they have signed off on funding to pay the workers' wages, we are still waiting on that," Dowell says.
"They are saying they need a couple of days to ascertain the financial situation of the company and it does not look good.
"We are trying to find out if there is enough money to cover the employee entitlements and we are not sure if there is at this stage."
Dowell says PPB expects to have a better idea of what the financial situation looks like.
"Aside from securing funds to pay the wages, their first priority is to sell the company. They say to sell they may have to restructure and we are always worried when they talk about restructuring that someone is going to lose their job.
"The workers themselves are absolutely beside themselves as most of them found out through the media so they feel like they haven't been treated very well and, of course, they are upset and frightened."
Even Prime Minister Julia Gillard weighed in on the debate, saying it was sad news for the company.
"I certainly hope that we can see someone step forward and take this business over and keep that very famous Darrell Lea brand going for us,'' Gillard told reporters in Ipswich yesterday.
"Everybody has probably eaten a lot of their Rocky Road over the course of their lives, I know I have.''
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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What Darrell Lea's collapse means for retail landlords

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There was a small increase in the percentage of properties available to rent in the inner and middle suburbs of Sydney over June, according to figures compiled Real Estate Institute of NSW (REINSW).
The residential vacancy rate eased by 0.2 percentage points from 1.6% to a rate of 1.8% in the inner-Sydney suburbs (0-10km from CBD) and by 0.1 percentage points in the middle suburbs (10-25km from CBD) from 1.7%, also to a rate of 1.8%.
Rental vacancies tightened in the outer suburbs (25km or more from CBD) by 0.1 percentage point from 1.9% to match the vacancy rate in the rest of Sydney at 1.8%
The overall Sydney vacancy rate has hovered around the 1.8% mark since the start of 2012, up from 1.5% in the second half of 2011.
Despite the small improvement in the inner and middle suburbs Sydney remains an extremely tight rental market favouring landlords – according to the Real Estate Institute of Australia (REIA) a vacancy rate of 3% indicates a balanced market.
REINSW June 2012 Sydney vacancy rates
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Outside of Sydney all the other major metropolitan centres recorded increases in the percentage of available rental properties last month.
Wollongong recorded the strongest increase, rising 0.4 percentage points from 2.8% to 3.2%.
Newcastle increased by 0.1 percentage point to 1.7% and on the Central Coast the percentage of available properties rose by 0.2 percentage points to 2.8%.
Coffs Harbour recorded the highest rental vacancy rate of 5.1%, and the Orana District recorded the lowest in the state at 1.2%
REINSW June 2012 regional NSW vacancy rates
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“Wollongong continues to record vigorous growth in the number of available rental properties, which are now more than three times the 0.9% level recorded in June 2011,” says REINSW president Christian Payne.
“June did prove to be a good month for those looking to rent a property with some strong increases recorded in available properties towards the end of the financial year.”
“Nowhere is this more the case than in Wollongong, which now offers prospective tenants a wide choice of available property.
“Elsewhere across the state there were more modest increases, which have also improved the situation for tenants,” Payne says.
‘It is clear that whatever the reason for the increases, it is still too early to be seeing any impact from the state government’s budget initiatives announced in May.
“Given the incentives are only just starting to come online now and the full package not expected to be in place until October, the increases we have seen in the rental market are attributable to other factors,” he says.
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Sydney's rental vacancy eases slightly but property market still favours landlords: REINSW

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BIS Shrapnel has just released its Residential Property Prospects, 2012 to 2015 and states that:
“Sydney is forecast to record a 17% increase in median house prices over the next three years, compared to 9% for Adelaide, 5% for Hobart, 3% for Melbourne, and just 1% for Canberra.”
Whether there growth forecasts are correct or not, it is clear that Sydney will be the focal point for price growth (driven by demand) over the near term.
So apart from organic population growth and migration, what will support growth in Sydney property prices? Investors!
Investors are slowly turning their attention back to the property market as they consider their future returns from current investments. For many, property is slowly starting to make its way back onto the radar and into their minds. Investors naturally want to preserve and grow wealth, so what will turn them back to investing in property? Oddly enough, confidence! This is what is drawing their attention back to property - the opposite of course is true - currently for home buyers.
So why is there growing confidence in property? The lack of confidence in the stock market due to volatility supported by uncertainty and the headwinds from Europe, China's slowing economy, falling interest rates locally however, property is showing good and strengthening rent returns (in the numbers not the hyperbole) as well as offering the bonus of some capital growth in the asset class proving to be the least volaitile and therefore is looking interesting again.
We have noticed this interest from investors in our business,  and while it is not overwhelming and we don't expect “weight” to return to the market or that investors returning will drive up values greatly, savvy investors are certainly looking at select residential and commercial investment again and getting strong returns with bonus growth.  On the western corridor of Sydney’s CBD fringe for example, we recently purchased an off-market property for under $19 million with a net yield of 7.4%,  and in the residential sector, a house in Clovelly (at a discount to market) delivering a 5% yield, which will provide growth of between 3-4% minimum, providing total returns of circa 9%.
Investors are starting to look at property (according to our private bank and HNW affiliates) as term deposits for example start to mature and interest rates tail off, income returns for property are looking attractive again – with the bonus of some capital growth, investors are targeting minimum total returns of between 7-9% pa. Even with the heady days or property doubling in value every seven to 10 years (probably behind us for some time), property has always kept pace with CPI historically, so with an average of about 3.2% p.a. over the long term and face yields of circa 5.5% on units for example, the returns, while not sexy, are safe, less volatile and makes gearing look attractive again in the current interest rate environment.
The trick as always will be knowing what to buy and where –  factoring in all the variables including on costs, anticipating future ownership/rental demand, finding assets that complement an individual’s investment style and strategy as well as managing the downside risk – or, if you want to sell within three years of ownership, is the asset that has been purchased likely to get you the purchase price + costs back and if it was, how would you know?
It's probably worth getting some independent property advice (from a buyers' agent) in addition to any financial advice you may want to get.
Stuart Jones is business development director of Sydney-based buyers' agency <a target="_blank" href="https://www.roseandjones.com.au/">Rose and Jones</a>
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Investors returning to Sydney property market

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Commercial property investors are likely to shift their focus away from retail property and focus on better-performing office and industrial assets, according to a new report by BIS Shrapnel
In its latest forecasts for retail property to 2022, BIS Shrapnel expects only modest retail turnover growth over the next decade principally due to the rise of online shopping and an oversupply of new retail floor space.
According to BIS Shrapnel, the growth of online spending overseas helps explain why consumer spending in total (including overseas online spending) is growing at a solid pace but retail turnover growth is subdued.
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Australians are also travelling overseas more and spending their retail dollars abroad.
Both of these factors are likely to continue to be a drain on retail turnover growth as long as the Australian dollar stays high, says BIS Shrapnel, which declares that the golden age of retailing has come and gone and won’t be returning.
It is forecasting annual retail growth of 2.9% per annum over the next five years compared with the “halcyon era” of retailing from the mid-1990s to GFC, when it averaged close to 5% per annum due to a “debt-fuelled spending surge by consumers”.
The most recent data from the ABS shows that retail turnover rose just 0.5% in May, and is trending up 3.3% on an annual basis.
“Without firming yields to save the day, modest income growth won’t be enough to generate the strong investment returns that investors have become used to,” says report author Maria Lee.
She says prospective returns for regional shopping centres are between 9% and 10% over a five-year and 10-year investment horizon.
“This is OK, but not impressive.
“Some investors are likely to turn their attention to stronger-performing office and industrial property instead,” she says.
Figures compiled by Colliers International for the first half of 2012 show that foreign capital flows into the Australian retail sector made up just 4% of offshore acquisitions (out of a total of $4.06 billion), with the transaction of three assets valued at around $184 million.
However, local investors appear to be more keen, with the <a href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740">privately owned Perron Group paying a post-GFC record of $690.4 million</a> to acquire a 50% share in a portfolio of three Centro flagship regional shopping centres –the Colonnades in South Australia, The Glen in Victoria and the Galleria in Western Australia – in a deal brokered by Simon Rooney, Australian head of retail investments at Jones Lang LaSalle.
Shopping centres in particular are likely to lose their investment sparkle according to BIS Shrapnel due to lower rates of turnover growth thanks largely to the growth of online shopping and the “dilutionary effect of additional retail floor space”.
According to BIS Shrapnel, the construction of new retail floor space continues to outpace both population growth and real retail turnover growth, a long-term trend in Australia, broken only during the late 1990s/early 2000s period of unusually strong turnover growth.
“It’s surprising that this is happening now, when floor space growth is relatively muted due to the challenges facing development in the post-GFC environment,” says Lee. “It means that, in real terms, turnover per square metre is falling.”
Instead, Lee says, some investors are likely to turn their attention to stronger-performing office and industrial property instead.
According to BIS Shrapnel, online retailing has a two-pronged impact - the obvious effect of taking market share from ‘traditional’ retailing, but another effect that could be equally important.
“Consumers are using price comparison websites or apps on their mobile phones when in-store, and then demanding a price match in order for them to buy there and then,” says Lee. “This can have an impact on retailer profit margins.”
She also points out Australians are purchasing more online from overseas retailers.
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Retail property to provide only modest returns to investors by 2022: BIS Shrapnel

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Shoe label Tom Gunn has leased 22 square metres of space within one of Melbourne's laneways – Howey Place, off Little Collins Street.
The rent is $4,318 per square metre, per annum – or about $95,000 a year. It’s one of the smallest lease deals to be offered in the Melbourne CBD.
The cutting-edge Australian shoe label was launched in 2008 by Brisbane-based designers Gabrielle Thompson and Shannon Gunn, whose training was at the Ars Arpel School in Milan.
“Melbourne’s iconic laneways are incredibly sought after by retailers keen to position themselves at the forefront of the city’s cutting edge fashion scene,” Colliers International retail leasing agent Ben Tremellen says.
“CBD laneways have been activated by an influx of high-profile, popular tenants in recent times, and Howey Place is one of the best performers.
“It is tightly held, recording record rents and is home to one of Alannah Hill’s best trading stores,” he says.
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Shoe label Tom Gunn steps into Melbourne’s laneway retail market

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Australia is a nation of pet lovers.  It is estimated that 63% of Australian households have some type of pet, with more than 50% of us owning a dog or a cat.
Over many years, Australian and international research has shown that owning pets can help improve a person’s mental and physical health, reduce the effects of stress, help children learn about responsibility, facilitate social interaction between people and build a sense of community.
And according to a recent release by the <a target="_blank" href="https://petnet.com.au/">Petcare Information and Advisory Service (PIAS)</a>, the structural shift to higher-density living has the potential to impact our love of pet ownership and the benefits we derive from having a beloved moggy or ridiculously cute sausage dog called Kransky.
In many countries, according to PIAS, where high-density living has been the norm for a longer period of time, pets have been successfully integrated into city life.  And while it appears more and more landlords and bodies corporate in Australia are open to tenants and owners having pets, we still have a long way to go before we reach the acceptance levels of our compatriots overseas.
I have always been a cat person. I grew up with cats with imaginative names like Sylvester, Panther, Sebastian and Spike.  Our first cat was called McFur, which I must admit is pretty damn cool.
I was pet-less for about 15 years as I wandered around the globe, but about four years ago I inherited a cat a colleague had found living in a drain. The story goes that the previous owners had packed up and quite purposely left the cat behind. I still shake my head about it to this very day.
<img style="margin: 5px; float: left;" src="/images/stories/2012/07/trixie.jpg">
Now this cat lived in a drain for several weeks and was only rescued once it decided to start stealing food from people’s houses. She was obviously very hungry, but also admirably resourceful. The vet nicknamed her “Worms” and she lived there for two months before the last day of her existence was nigh. My colleague, an avowed animal-lover who already had a large enough collection of pets herself, put out a last desperate call for someone to save the cat’s life. For some reason, I answered that plea and within six hours had a very frightened, pitch-black, green-eyed fur-person delivered to my townhouse. Her first toy was a feather duster.
We named her “Trixie” (Trixie McMoo Moo in reality, which is quite embarrassing for me and for her) and she is the most affectionate, clumsy, slightly crazy cat I have ever known. We kept each other company over those years, but like so many people when I decided to move into a new property, there was a “no pets” policy. I thought about sneaking her in but decided against it. The next best option, of course, was to call my mum.
No doubt there is research out there somewhere about the tens of thousands of animals that end up living with mum and dad. Mum was due to retire, had lots of outdoor space for Trixie to roam around and roll in, and best of all, I could still see her whenever I wanted.  I saw her yesterday actually, but I must admit (as cats are wont to do) her affection for me has waned and is now firmly lodged with my mother. But that’s OK because she is happy and healthy where she is. But if I’m completely honest, part of me still pines to have her back living with me – especially now that it’s winter so she could keep me warm under the covers.
Nicola McDougall is media and communications manager for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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