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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
Building approvals for private sector houses fell 11.1% in April to 6,590 on a seasonally adjusted basis, according to the latest ABS figures.
Unit approvals fell 2.3% over April to 3,656 leaving overall dwellings approvals down 8.7% following a rise of 6% in March.
The value of residential building fell 6.7% while non-residential building fell 2.8%, according to the ABS.
The biggest monthly private sector housing fall was recorded in Western Australia, where the number of approvals fell 36.7%, followed by South Australia (-26.4%) and Queensland (-11.6%).
Private sector house approvals rose in New South Wales (2%) but were flat in Victoria.
For the year to April, private sector housing approvals are down 15.9% while unit approvals are down 33.8%
Dwelling approvals decreased in April in Western Australia (-46.7%), South Australia (-27.8%), New South Wales (-15.3%) and Queensland (-2.7%), but increased in Victoria (13.0%) and Tasmania (9.6%) in seasonally adjusted terms.
The value of total building approved fell 5.4% in April in seasonally adjusted terms, and has fallen for three months.
Westpac suggested the April WA result has been heavily impacted by the introduction of new building approval legislation in Western Australia which appeared to have created a hole in approvals presumably due to a lengthier approval process.
"That will be a temporary hole with normal transmission resuming in coming months," it noted. It also suggested the picture across the other states showed volatile moves mostly associated with a lumpy pipeline of apartment projects.
For private sector houses, NSW showed a 1.9% gain building on a similar rise in March; Vic had a flat result; and Qld posted a particularly sharp 11.6%mth drop, unwinding policy-related strength through late last year and early 2012. But notably, all states are recording trend declines in private sector house approvals although NSW and Vic are showing moderating trend declines. "Overall, the April dwelling approvals report is weak but not quite the disaster the headline moves suggest," Westpac said.
The ex-WA results suggest activity is continuing to gradually stabilise but has not settled just yet, it concluded.
The HIA says the "sharp" fall in building approvals in April sends a "very negative signal regarding the wider domestic economy"
“Building approvals have continued to fall over 2012 to date and imply a recessionary level of new residential construction in 2012,” says HIA chief economist, Harley Dale.
“That’s not a positive, upbeat outcome to report, but it is a fact which can’t be ignored or denied,” says Dale.
“The last three months of building approvals confirm HIA’s message that housing starts are heading towards 130,000. That’s a recessionary level of new home building activity with obvious flow-on consequences for Australia’s manufacturing and retail sectors, and employment market.
“Leading indicators over recent quarters have pointed to this poor result and, worryingly, suggest more to come.
“The situation can be turned around, but it requires action and that action needs to occur now. HIA once again calls on Governments to collectively arrest the looming crisis through tax relief and an injection of investment and funding into the new housing sector. Such an injection will also provide vital impetus tothe broader non-resource economy,” says Dale.
Commenting on the April figures, Master Builders Australia (MBA) says they show that last year’s rate cuts have failed to have any impact on residential building approvals in April.
Building approvals are heading south as home buyer confidence weakens," says Peter Jones, chief economist at the MBA.
“The April data pre-dates the May rate cut but with home buyer confidence at such low levels it would appear rates need to fall further in order to arrest the decline in the market.”
“With the immediate challenge to restore confidence and drive a private sector recovery, the building industry is banking on further rate cuts to help boost confidence.”
“To underpin economic activity and jobs, the Government and the Reserve Bank need to boost the more than eighty per cent of the economy caught in the ‘slow lane’," says Jones.
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New home approvals down 11% in April with big drop in WA: ABS

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Melbourne’s poorest-quality office stock may become sought after by investors following a new report showing D-grade offices have the lowest vacancy rate of all office types in the city.
The vacancy rate for “inferior quality” D-grade office stock in the city stands at just 2.2%, less than half the vacancy rate of premium-grade stock (5.9%) and well below the 3.5% vacancy rate for high quality A-grade stock, according to the latest City of Melbourne Property Watch report.
Based on current total D-grade office stock of only 121,000 square metres, this equates to around 2,700 square metres of available space to rent.
The least attractive office grade from an investment point of view appears to be C-grade, “average” office stock, which has a vacancy rate of 10% and more than 574,000 square metres of total space.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/05/melboffice.gif"><img src="/images/stories/2012/05/melbofficethumb.gif"></a>
No new D-grade space has been added to the pool in the 12 months to January 2012, while there was 3,300 square metres of C-grade office space added to the market over this period.
Demand for D-grade office space indicates that businesses still want to be based in the city, but cannot afford the rents charged for better-quality office space, the Property Council of Australia Hunter regional director Andrew Fletcher said when reporting on a similar phenomenon in Newcastle.
The tightest office market in the Melbourne CBD is Docklands, which has a vacancy rate of just 0.8%.
C-grade and D-grade offices have “poor air quality, poor lighting, low-grade amenities and have no minimum standards for building, floor space or environmental ratings” reported the Canberra Times in January.
The report says there is 623,000 square metres of premium-grade space, 1.8 million square metres of A-grade space and 931,000 square metres of B-grade space.
Yields for premium-grade office space range from 6.75% to 7.25%; they range from 7.25% to 8% for A-grade and 8.5% to 9.5% for B-grade.
Yields on the sought after St Kilda Road office market range: 8.75% to 9.25% for A-grade and 9% to 10% for B-grade. 
The report does not provide yields for C-grade and D-grade stock.
The Melbourne CBD office market (incorporating Docklands) is the second largest in the country and currently comprises 4.1 million square metres of office space.
Only 41,201 square metres of new supply was introduced to the market over the 12 months to January 2012, well below the annual 10-year average of approximately 135,000 square metres.
Report author Amanda Walker says the Melbourne CBD office market has the second lowest vacancy rate of mainland capital cities and has recently enjoyed moderate growth in rents and capital values.
“The market is currently considered balanced that is demand driven, rather than supply led.
“Offshore demand for Melbourne CBD office investments appears to be strengthening, highlighting the market’s resilience and appeal as a global investment destination,” she says. 
“In a period of global economic uncertainty, the outlook for the Melbourne CBD office market remains positive. Continued stability and anticipated rental growth is likely to continue to be a key attraction for offshore investors.
“Limited forecast growth in white collar employment over the next 12 months, together with a lack of new supply in the first half of 2012 is likely to keep vacancies at similar levels before new stock and backfill supply comes online,” she says.
 
 
 
 
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Melbourne’s poorest-quality office stock has tightest vacancy rate: City of Melbourne report

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Who says Twitter is just fluff? Well, I did before Max Keiser and Stacy Herbert persuaded me to sign up. I’ve since realised that it’s rather like a modern version of the old-fashioned news wire services for the public. Choose who to follow, and they’ll keep you updated on things that interest you. If that happens to be Kylie’s waistline or Kurt’s fidelity, that’s your problem, not Twitter’s. One tweet that I received told me something that didn’t seem right from my own data: that CPI-deflated US house prices were now within reach of their long-term average (i.e. 1890 till now). From my figures – which I had cobbled together from Robert Shiller’s first edition “Irrational Exuberance” data supplemented by the S&amp;P Case-Shiller Index, adjusted for inflation – prices had fallen a lot, but still had a long way to go. So I went back to Robert Shiller’s home page, checked his updated data, and sure enough real US house prices were now “only” 15% over their long-term average. Though this certainly doesn’t mean that house price falls in the US are almost over – having overshot by so much, there is every prospect of them going well below the long term average before they stop falling, especially given the unprecedented mortgage debt from which households are still deleveraging. But it means the day that real US house prices stop falling is closer than I thought before Twitter alerted me to this problem with my data. The chart below shows the difference between my old series and the new one – which is taken without modification from Robert Shiller’s data page. Figure 1: Shiller USA Real House Price Data

<img src="/images/stories/2012/05/keenmay313.gif">
The revision has intriguing consequences for the Australian market. My Australian data comes from cobbling together Nigel Stapledon’s PhD research into long term real house prices from the late 1800s to the ABS data which began in 1986 – and it too is hardly data of the standard that the physical sciences expect. But that said, the Australian house price bubble appears even more extreme: three times the long-term average, versus “only” twice the long-term average when Alan Greenspan told Congress that there was no bubble in US house prices. And of course, the dominant view in Australia is that there is no house price bubble here. Yeah, right. Figure 2: Long term real house prices
<img src="/images/stories/2012/05/keenmay311.gif">
Even when you consider just the very brief time series that the ABS has assembled, Australia’s bubble dwarfs the American one. Real house prices peaked at 2.6 times the level of 1986, whereas the US market peaked at 1.7 times the 1986 level.
Figure 3: Real House Price Indices from 1986-Now
<img width="470" src="/images/stories/2012/05/keenmay312.gif">
 
<hr class="system-pagebreak">
 
Though US house prices have now returned to their 1986 level, mortgage debt has not. All the froth pumped into the market by 30 years of rising mortgage debt has now gone, but the level of mortgage debt is far higher.
Figure 4: Mortgage debt levels
<img width="470" src="/images/stories/2012/05/keenmay314.gif">
This is why house prices could fall a lot further in the US – even though they’re now a relative hair’s breadth from the long term average. As I’ve argued regularly here, the real driver of change in asset prices is the acceleration of debt. I won’t go into the details here – I’m rushing to get this post up before I am on a panel today at the Australian Property Council’s annual gabfest – but I’ll let the next two charts speak for themselves. 
Figure 5: Correlation of mortgage acceleration and house price changes, US
<img width="470" src="/images/stories/2012/05/keenmay315.gif">
Figure 6: Correlation of mortgage acceleration and house price changes, Australia
<img width="470" src="/images/stories/2012/05/keenmay316.gif">
Finally, the chart I published some weeks back comparing house price falls from the peaks in the US, Japan and Australia used the old data, and made Australia’s rate of decline from its June 2010 peak appear comparable to the slow pace of Japanese decline. This revised data indicates that our rate of price fall is more comparable to the US pattern.
Figure 7: House price falls from peak – the early years
<img src="/images/stories/2012/05/keenmay318.gif">
How far could Australian house prices go down? Given what has happened to US and Japanese prices, the simplest answer is “a lot more than most of the people in the audience here seem to expect”.
Figure 8: House price falls from peak – the middle years
<img src="/images/stories/2012/05/keenmay317.gif">
Figure 9: House price falls from peak–the long term
<img src="/images/stories/2012/05/keenmay319.gif">
Steve Keen is a professor of economics and finance at the University of Western Sydney and author of Debunking Economics and the blog <a href="https://www.debtdeflation.com/" target="_blank">Debtwatch</a>.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
 
 
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As the Australian housing bubble bursts, prices could fall a lot further than people expect: Steve Keen

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Victorian property investors looking for opportunities under $500,000 should look at apartments in the inner-Melbourne suburb of St Kilda East and also cast their nets as far as Geelong, Bendigo and Ballarat, according to analysis by Herron Todd White (HTW) valuers in the latest Westpac Property Report.
<img src="/images/stories/2012/05/vicregionalmap.jpg">
“Throughout Victoria and Melbourne there are abundant opportunities for buyers in the under-$500,000 price range, and in this sought-after end of the market prospects for future capital growth look good virtually across the board,” HTW chief executive Brendan Hulcombe.
HTW says St Kilda East is very appealing to investors on a tight budget and would provide change on $500,000, with apartments trading at a median unit price of $465,000 and yields ranging from 4% to 4.5%.
According to HTW, affordability – particularly in the apartment market, is encouraging investor interest in St Kilda East, which is just six kilometres from the Melbourne CBD.
Other factors keeping rental demand high are good transport connections via trams servicing the main shopping hubs like Chapel Street and Acland Street and the cosmopolitan feel of Carlisle Street, as well as a predominantly young local population “creating a compelling urban lifestyle that should underpin future capital growth”.
There are currently a spate of new developments being marketed off the plan to investors, including the Hotham Street Apartments, due for completion in 2013, which will offer 18 dwellings with basement car parking with prices starting from around $380,000.
Geelong
Geelong also offers opportunities under $500,000, with the key drawcards of this market being a manageable commute into Melbourne and more affordable prices.
“Employment opportunities are strengthening in Geelong, and a population shift away from Melbourne towards the urban growth boundary has seen Geelong’s population continue to increase.
“Geelong is viewed as an investment hotspot and a good all-round performer for 2012. Rental yields range from 4.5% to 5% and median house prices rose by 5.7% last year giving investors a healthy overall return,” says HTW.
Geelong has a median house price of $530,000, with apartments ranging from around $290,000 to $390,000. Vacancy rates are also low at 2.3%.
Bendigo 
HTW notes that the Bendigo residential market has stabilised over the last quarter with demand remaining buoyant alongside reasonable sales turnover providing good opportunities for investors to take advantage of the city’s current rental shortage.
Bendigo yields are generally between 5.5% and 7%, with a current median house price of $277,500 and $227,500 for apartments, meaning investors could quite possibly by one of each and still stick to their budget of $500,000.
“Latrobe University plays a key role underpinning demand for rental accommodation in Bendigo, and yields are higher than for other nearby regional centres like Echuca and Shepparton. Proposed investment in the city’s health infrastructure by the state government will continue to promote Bendigo as a major regional growth centre,” notes HTW.
HTW valuers say a land shortage is emerging in Bendigo and price growth in residential house lots has become quite noticeable in recent months.
“As a guide, some new developments such as the Evergreen Links Estate in Eaglehawk have experienced price rises of 25% over the past year. This shortage points to good prospects for further capital growth in the future,” says HTW.
Ballarat 
A growing population and a very low vacancy rate at around 1% make Ballarat a good option for investors.
“Ballarat property prices have remained stable and affordable with median prices of $285,000 and $223,750 for houses and apartments respectively,” says HTW.
“Investors are experiencing yields ranging from 4.75% to 5.5%, and the vacancy rate is very low at around 1%,” says HTW.
Ballarat’s current population of around 96,000 people is forecast to rise to 130,000 by 2030 due to regional employment opportunities.
According to HTW, the desirability of Ballarat is further enhanced by its mix of period houses and modern homes, with the one hour commute to Melbourne attracting buyers priced out of the metropolitan market.
“The Ballarat West Growth Area and the Alfredton West Precinct Plan have resulted in significant rezoning of land, and this will lead to the development of new major activity centres along the lines of Lucas – Ballarat’s newest suburb, which is expected to release up to 2,300 new land plots over the next 12 to 14 years,” says HTW.
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Regional centres Geelong, Ballarat and Bendigo offer best sub-$500,000 property investment opportunities in Victoria: HTW

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So what do you do if you’ve found a home, it’s for private sale, and you want to make an offer? How you kick the ball into play, to use the vernacular, can be even more important than the actual amount – especially at the highest level. Too often buyers’ first efforts are way out of bounds and the game is over on the first move.
Slamming a deadline on a low-ball price, for instance, not only has limited chance of acceptance, but can also offend – making a future, more realistic offer harder to get over the line. On the other hand a careless high-ball comment can make it almost impossible to offer sensibly afterwards.
Before you step over the negotiation white line please understand that the first thing you say and how you say it often becomes the foundation around which negotiations are built.
If those foundations are faulty, your dreams may come crashing down on a home you could have bought had you done your homework, executed a plan well and shown some respect.
I know it can be hard to accept, but sellers and their agents have feelings, too.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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maljames-vHwm28JUAa

Be cautious when making your first offer on a property, or negotiations could end before they begin

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Retail sales fell during April, despite economists' predictions of a 0.2% rise, according to the latest figures available from the Australian Bureau of Statistics. 
The figures show the trend estimate for retail sales in April grew by 0.3%, but the seasonally adjusted measure fell by 0.2% to $21.2 billion.
This follows a rise of 1.1% in March and 0.2% in February.
The food retailing industry rose by 0.4%, while cafes, restaurants and takeaway food services also rose by 1%, followed by other retailing up 0.5%, and clothing, footwear and personal accessory retailing up 0.3%. Department stores also rose 0.3%.
Household goods retailing fell 0.4%.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>. 
 
 
 
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pmcstafford-pr9eMARWoN

Retail sales fall in April against predictions

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Residential construction remains in the doldrums, with the value of residential building work completed falling 2% in the March quarter to just under $11 billion, according to the latest quarterly ABS construction figures.
New residential building work fell 1.3% to $9.6 billion on a seasonally adjusted basis, the fourth consecutive quarterly fall following a smaller 0.3% fall in the December quarter.
The value of renovations fell 5.3% to $1.8 billion over the quarter.
The value of residential building is down 8.3% on the March 2011 quarter on a seasonally adjusted basis.
HIA senior economist, Andrew Harvey, says the result for new dwelling construction and renovations is a concern "as it suggests not only that dwelling investment will again detract from GDP growth in the March 2012 quarter, but also that the renovations side of the residential building industry is now also facing headwinds”.
"Renovations have been the positive news story for the residential building industry with the value of total work holding up relatively well, but there are now mounting signs that this side of the industry is slowing.
“Today’s data is just another piece of evidence that current policy settings need to be amended. The official GDP growth forecasts remain too optimistic, interest rates need to be cut again next week and governments need to quickly support the domestic non-resources industry, including residential building and manufacturing so that the nation is well-placed to grow in the longer-term,” he says.
Non-residential construction work fell 9.2% in the quarter to $7.46 billion and is down 6.8% year-on-year.
Combined, the seasonally adjusted estimate of total building work done fell 5% to $18.45 billion in the March quarter.
The total value of building work has fallen 7.7% since the 2011 March quarter.
On the back of the big resource projects, engineering work rose 13.3% for the quarter to $29.84 billion and is up 35.6% year-on-year.
Commenting on the quarterly data, Westpac says housing construction activity weakened, "with the sector facing a number of headwinds" though lower interest rates will provide support to the sector over coming quarters.
An indication of the impact of large resource projects, construction work jumped 38.8% in WA, but declined in all other states. 
Westpac says the  construction sector is likely to add around 0.6 percentage points to first quarter GDP growth, a little above the 0.4 percentage points it anticipated. 
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Value of residential construction falls 2% in March quarter: ABS

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Population movements are an important element of housing demand; more people means more demand for housing.  With Australia’s rate of population growth slipping from a high of 2.2% or 467,300 new residents over the year to December 2008 down to 1.4% (319,600 persons) over the year to September 2011, there has clearly been a fall in housing demand.
While the slowdown in population growth is a national phenomenon, there are still plenty of regions around Australia where, at least according to estimates from the Australian Bureau of Statistics, population growth remains quite rapid.
As can be seen from the table below, which shows the council regions around the country with the largest number of new residents over the past five years, Queensland continues to attract a large number of new residents.  In fact many of the council regions that comprise south-east Queensland rank quite high in the top council regions list for population growth over the five years to June 2011.
The regions showing a population deficit are all rural locations, many of which have been recording a fall in population for some time.  Each of the regions featured in the top 15 list below is recording a population lower than what was recorded not just five years ago, but 10 years ago.  Of the 565 council regions around the country, 153 (or just over a quarter) of them have recorded a population decline over the past decade.
Click to enlarge
<a href="/images/stories/2012/05/rpmay301.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay301thumb.gif"></a>
Moving down to a more granular basis, at the suburb level there are some interesting trends.  Almost 60% of the top 30 suburbs recording the highest population growth over the past five years are located across, in Melbourne and 20% are located around Perth.  The only regional suburbs to market the top 30 list for suburb level population growth over the past five years were located on the Gold Coast (note that “regional” suburbs are considered to be any outside of the capital city statistical division boundary).
Four of the five suburbs that have recorded the largest number of new residents between 2006 and 2011 are located across the Melbourne fringe.  The population in the suburb of Pakenham has increased by 14,247 new residents over the past five years.  Over the 12 months ending June 2011 the population increased by slightly more than 10%.
Click to enlarge
<a href="/images/stories/2012/05/rpmay302.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay302thumb.gif"></a>
The outer-Melbourne fringe areas (including the council regions of Wyndham, Melton, Casey, Whittlesea, Cardinia) are arguably one of the better examples of how a long-term planning strategy around land release, amenity development and infrastructure provision can be successfully implemented.  The planning foresight extends back to the Kennett era and is probably one of the main reasons why new dwelling activity around Melbourne’s growth corridor has been so much more in alignment with population growth compared with other capital cities.  Additionally, when you look at land prices across the outer Melbourne fringe, thanks to government policy that makes it easier and cheaper for land to be released and developed, Melbourne land prices are generally more than $100,000 lower than comparable locations in Sydney.
The top 30 suburbs for population growth across regional markets were mostly located at the Gold Coast (30% of the top 30 list) and the south-west of Western Australia, which includes areas such as Harvey, Mandurah and Capel (17% of the top 30 list).
Click to enlarge
<a href="/images/stories/2012/05/rpmay303.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay303thumb.gif"></a>
To provide some further insights into the spatial patterns of population growth around the country and cities we have provided a series of thematic maps below.  The population growth corridors are clear, generally following the path of rail or road infrastructure (highlighting the importance of connectivity).  Interestingly, Melbourne and Perth are the only capital cities to show more than 2,500 new residents within the inner-city suburbs over the past five years, suggesting inner-city densification has slowed down in the other capital cities.
 
 
<hr class="system-pagebreak">
 
 
Australia
Click to enlarge
<a href="/images/stories/2012/05/rpmay304.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay304thumb.gif"></a>
Greater Sydney
Click to enlarge
<a href="/images/stories/2012/05/rpmay305.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay305thumb.gif"></a>
Melbourne
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay306.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay306thumb.gif"></a>
South-east Queensland
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay307.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay307thumb.gif"></a>
Adelaide
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay308.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay308thumb.gif"></a>
Perth
 
Click to enlarge
<a href="/images/stories/2012/05/rpmay309.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/05/rpmay309thumb.gif"></a>
Canberra
 
Click to enlarge
<img src="/images/stories/2012/05/rpmay3010thumb.gif">
Tim Lawless is research director of<a href="https://www.rpdata.com.au/" target="_blank"> RP Data.</a>
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Australians are moving from the countryside to cities (and city fringes): Tim Lawless

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At an early stage in your house-buying plans you will need to make numerous decisions.  These decisions are interconnected and will also be affected by your affordability.  Subject to your budget, choose a suburb and property that suits your lifestyle or investment needs.
In order to help you, I have broken down some tips that home buyers and investors need to take into consideration when targeting the right type of property to purchase.
Residential home buyers
Choosing the type of house you want requires you to determine what you actually need and what your long-term goals are.  You will need to think about the following:
<ul>
<li>Is this your dream home or a stepping stone?</li>
<li>Realistically, how long will you be living in the house?</li>
<li>Are you planning to have children?</li>
<li>Is the distance to work more important than having a garden or a big house?</li>
<li>Do you have the time, skill, patience and money to renovate or build a new house?</li>
</ul>
There will always be a trade-off between your needs and wants. Think carefully about what you really need and be honest about your own lifestyle and capabilities. All members of the household should be in agreement on basic needs.
If you work long hours or spend lots of time socialising at cafes or restaurants, a smaller home or apartment close to work may be more suitable than a large house that requires gardening and maintenance. If you are planning to start a family, maybe a quieter suburb close to parks might be more appropriate.
It’s a good idea to make a list of the features that you need and want in your home. You may wish to classify these features into “essentials” and “extras”, or to prioritise the features in terms of how essential they are to you and your family. You will never come across a house with every feature you want, and at some stage you may have to sacrifice one feature to get another.
If you are planning to be in this house long term, say for more than six or seven years, you will need to think about your future needs, especially if you have or plan to have children. Not only will the children like to have their own bedrooms, you may want to have an area into which you can escape, which makes open-plan houses unsuitable for the growing family. If the house has inadequate room, make sure that its floor plan is suitable for modification or an extension.
Investors
<ul>
<li>What sort of property do you want to invest in?</li>
<li>What is your financial position?</li>
<li>Do you want to be involved with an owners corporation?</li>
<li>Do you enjoy organising tradespeople?</li>
<li>Do you want to be able to drive past your property?</li>
</ul>
Location is essential. Good consistent capital growth is achieved in most areas where there is a stable and diverse economy.  For that reason, inner-city areas are preferable to country or regional towns with a small population, and where the economy may be based on a single factor.
Once you have decided on a location, the area should be examined in terms of both the attractions and detractions of the immediate environment. In general, tenants dislike properties that have the following:
<ul>
<li>Railway at the back fence</li>
<li>Next door to public toilets</li>
<li>Facing a busy road</li>
<li>Small bedrooms with no built-in wardrobes</li>
<li>No off-street parking </li>
<li>Small living area</li>
<li>Small outdated bathrooms</li>
<li>Lack of heating and/or air-conditioning</li>
<li>No balcony or courtyard </li>
</ul>
Properties should be handy to:
<ul>
<li>Public transport</li>
<li>Shops</li>
<li>Schools</li>
<li>Parks or water</li>
<li>Areas of employment</li>
<li>Within sought-after “lifestyle” locations</li>
<li>In established residential streets </li>
</ul>
Melissa Opie, aka “The Property Lady”, is  a multi-award-winning buyers’ advocate, bestselling author and managing director at <a href="https://www.kpi.net.au/">Keyhole Property Investments</a>.  The team at KPI act for investors and owner-occupiers Melbourne wide from $400,000 to $5,000,000. You can follow <a target="_blank" href="https://twitter.com/thepropertylady">“The Property Lady” on Twitter.</a>
 
 
 
 
<ul></ul>
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mopie-oqKqoZWZ7D

Know exactly what you’re looking for when buying property

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CommSec chief economist Craig James has called for the federal government to hold a home building summit.
“The Reserve Bank has certainly expressed more concern about the lack of home building in recent months, however it can only do so much in stimulating activity.
“Ultimately federal and state governments need to sit down with developers, industry bodies and finance providers to work out the fundamental constraints on new home building.
“A home building summit would certainly be a positive leadership initiative from the federal government,” James suggests.
His comments came after a slight lift in April new home sales.
But James noted the nearing end of Victoria’s $13,000 first-home bonus helped national new home sales mount a partial recovery in April.
The HIA - JELD-WEN new home sales report, based on a survey of Australia’s 100 largest builders, showed a 6.9% rise in total seasonally adjusted new home sales in April, with new detached house sales increasing the most in Victoria, up by 17.2%, ahead of the removal of the first-home bonus.
The increase in Victorian home sales was the first gain in five months, James notes.
"However it is clear that home building is weak, certainly well below averages over the past five years.
“In part Aussies lack confidence to build,” he adds.
"Others are opting for shared accommodation, whether it be Gen Y renting apartments together or staying home with their parents. Or it may be that senior Australians are opting to live with their children and grandchildren.
"Certainly home occupancy has been rising over the past two years – something that hasn’t happened in over a century," James says.
 
 
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