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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
A 1913-built Art Nouveau backpackers' hostel in Melbourne has sold for $10.75 million with an expected yield of more than 8%.
Previously known as the Sir Charles Hotham Hotel and the Hotham Private Hotel, the building on the corner of Flinders Street and Spencer Street was first listed for sale by the vendor in June 2010.
The property, 2-8 Spencer Street and 566-580 Flinders Street, last sold in 2006 to Australian Budget Accommodation Group for $6.15 million when offloaded by the Ivany family.
Current tenants All Nations Backpackers Hostel have a lease until 2018, after which the marketing suggests there will be redevelopment potential for the site.
The corner block has a land area of 883 square metres with a 20.9 metre frontage to Spencer Street and 40.2 metres to Flinders Street.
Property Observer understands the buyer is associated with private investor Peter Russell's Kurrawonga Pty Ltd, which was last in the news when it secured the London &amp; Lancashire Building at 400 Collins Street for $7.5 million in 2009.
A Malaysian investor had been tipped to buy the property for $12 million in February this year but backed out after undisclosed issues.
Kliger Wood agents Russell Meerkin and Grant McKenzie had marketed the property for $12 million last November.
The current net annual rental is $885,586.
“The building is an older style Art Nouveau style four level and part five level structure which has three retail tenancies including a Seven Eleven store, a café and an entertainment facility on the street frontage with the upper levels and part of the ground floor including a bar and reception area are conducted by Nomads Backpackers,” Meerkin says.
“Most of the leases have further periods to run and allow annual defined rental increases and in most cases options to renew.”
When the hotel was first erected the daily press described as one of the largest in the city.
“The location commands the shipping trade, adjacent to wharves and Spencer Street Railway Station, Harbor trust offices and Railways Offices, fish market- proposed improvements to bring mail and other large freight right up to the City- all to benefit the hotel.”
“It includes cellar, ground floor with large public bar, private bar, billiard room, four bar parlours and offices; three storeys and open flat on roof; first floor has large dining room, and services, drawing room, reading and smoking rooms, nine bedrooms with linen press, bathrooms and lavatory accommodation; second floor has private sitting and dining rooms, bedrooms servants bedrooms and facilities; third floor has 14 bedrooms, servants dining room, modern kitchen; cellar one of the largest and best in Melbourne; passenger and goods lifts, electric lighting.”
Heritage documents say the building is a well preserved example of Edwardian Freestyle architecture in Melbourne.
“Sir Charles Hotham Hotel is significant architecturally as a large, well-preserved and successful corner hotel design in the Edwardian Freestyle, by the important architect William Pitt, and is a major part of a notable Edwardian and late Victorian-era commercial streetscape in both Flinders and Spencer streets, consisting mainly of hotels,” Australian cultural heritage consulting firm Graeme Butler says.
“Historically, Sir Charles Hotham Hotel is significant for its location with other Edwardian-era and late Victorian-era hotels near the wharves and railway that served them, underscoring the major means of travel at that time. The new Sir Charles Hotham Hotel was built during the state's economic recovery after the Great Depression of the 1890s and remains the largest Edwardian-era hotel built within the Central Business District.”
 
</body></html>

awalsh-7Ub9EypybQ

Art Nouveau backpackers' hostel on Spencer Street sells for $10.75 million

<html><body>
<a href="https://www.propertyobserver.com.au/trends/seven-wealth-myths-that-hold-you-back-michael-yardney/2012050354553" target="_blank">In a previous article</a> I explained despite living in a land of plenty, the sad reality is that the majority of Australians will never achieve financial freedom. On the other hand, a small group of Australian property investors are becoming very wealthy in property. 
Today I continue exploring the common money myths that hold many people back from achieving their financial goals.
Myth #8: The rich are lucky 
The truth is that success in wealth creation is no more about luck than is success in anything else in life. To become wealthy you have to be in control of your finances and not count on good fortune. When you have a proven investment system or strategy, luck becomes unnecessary. 
As a child, I used to play Monopoly: Sometimes I won, sometimes I lost. 
As an adult, I’ve played Monopoly a couple of times with some financially intelligent people and I realise now that, contrary to what I thought when I was young, it’s not a game of luck. 
Good players know the right spots on the board to get the best return on their investments. They know how to acquire and control the best “monopolies” in order to collect the highest rents. They’ve learned to negotiate and find ways to make great deals. They’ve learned how to take the luck out of Monopoly and consistently win big as a result. 
To me, this sounds a whole lot like the real world of investing. You need to learn how to take the luck out of wealth creation and instead develop smart strategies to get ahead. First you need to learn how to play the game, and then you need to know how to win the game. 
Myth #9: To become rich you must diversify 
Wrong! Yet that’s what most financial planners suggest, isn’t it? Diversification leads to an average outcome. I’ve found that successful investors don’t diversify; they cultivate the skills required to make better, smarter investing decisions and specialise in one niche.
 
Myth #10: Paying off your house provides security 
This is one of the old myths many of us learned from our parents, who probably learned it from their parents. But it doesn’t make sense in the new financial era. The problem here is that once you’ve paid off your house, you end up with idle equity sitting under your roof doing nothing; equity you could use as a deposit to buy an investment property and grow your wealth. 
Myth #11: All the good investments are taken 
That’s not true - opportunities are always out there - in every market. Sometimes there are a lot and sometimes there aren’t. Some are obvious and others are opportunities you create by understanding investment markets. Sure, all of yesterday’s deals have been taken, but tomorrow’s deals have not. Someone will snap them up. Why shouldn’t it be you? 
Myth #12: If you want to do it right, you have to do it yourself 
There’s no such thing as a self-made millionaire. All successful property investors have a good team of professional advisors and supportive mentors around them. 
That doesn’t mean you should hand over full responsibility for your wealth creation to others. But the rich recognise they can’t have expertise in all aspects of wealth creation, so they find a team of experts they can lead in order to help them achieve their goals. 
Myth #13: I’ve done everything wrong! It’s too late 
It’s never too late to learn how to invest or to overcome your mistakes. There are many success stories of people who conquered all sorts of adversity, or started investing later in life and ended up achieving financial freedom. In fact, Ray Croc was over 50 years old when he built his very first fast food outlet. You might have heard of it – it’s called McDonald's.
Myth #14: Debt is bad 
Most Australians believe debt is a dirty word, but not all debt is bad. Savvy property investors know how to use good debt to buy appreciating assets. 
Myth #15: It doesn’t matter what I want – I just can’t do it 
Subscribing to this myth is almost a guarantee of failure, because our beliefs and perceptions become our reality. Some people who’ve had a few failed attempts “learn” that wealth is beyond their control and they can’t affect the outcome. They remain in a cycle of victimisation all their lives. 
This is one of the reasons why the rich get richer – they believe they are in control of their destiny. You must also believe you’re in control and act as if you’re in control. Then pretty soon you’ll be surprised by the results you achieve. Invariably, the more success you have, the more your thoughts about what you can and can’t control will alter for the better. Yes – you can do it! 
There’s no way money can know who’s in control of it, what their qualifications are, what ambitions they have or what they’re going to do with it. Money is there to be used and spent, saved and invested. It can’t judge whether you’re worthy or not. 
Now that you understand some of the myths that have held so many people back, the good news is you can do things differently. Choose to change your beliefs to produce outrageous results and reach every goal you set.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
</body></html>

myardney-DFoGhGbSJX

The final eight of 15 wealth myths that hold property investors back: Michael Yardney

<html><body>
Working in the state of Victoria, we work within a deregulated market, so our fees for leasing and managing properties is fully negotiable nowadays and in fact it has been that way since the mid-1990s.
In the past 10 years we have seen the growth and establishment of property management into a long-term career rather than a side step into sales.
However, landlords must realise when management fees are heavily discounted, it can have a snowball event.  In the most extreme case the agency’s rent roll is sold and subsequently purchased from one of its competitors because it could no longer continue to operate a business, let alone make any profit.
Other consequences will generally include the continue turn over in property manager or property management staff.  Low management fees will generally equate to lower wages, less or no training and a continual churn in staff. Sometimes directors and/or senior managers are more focused on securing as many managements as possible irrespective of whether the agency can afford to properly service and maintain the business.
So after continual poor service, the landlord will move on to another property manager.
A further aspect that should be considered is what is actually included in the lower management fee.  Can you honestly expect to receive the same quality of service and inclusions when you are paying 4% rather than the industry standard, approximately 7%??
Cheaper is generally never better so here are some things to consider;
<ul>
<li>Are routine inspections included at the lower rate? </li>
<li>How much extra will you pay if your tenant falls into arrears?</li>
<li>How often does the agency pay its owners? Once a month? </li>
<li>What is the true quality and experience of the property manager? </li>
</ul>
Just like all service industries, you pay for what you get. Cheap is never a good long-term solution. It may serve as a short-term financial fix, but in the long run and from my experience it results in the landlord having to pay an another property manager more money to sort the problem out!
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
 
 
 
 
</body></html>

leahcalnan-pwE6GD6KY9

You get what you pay for in property managers who work cheap

<html><body>
There were 823 sales in Perth this week, up 40% from the same week last year and up 6% from the 774 sales last week, according to the Real Estate Institute of Western Australia.
<img src="/images/stories/reiwamay11.gif">
 
 
 
</body></html>

cknowlton-QnEa6ntUYP

Perth sales up 40% on the same week last year: REIWA

<html><body>
The Melbourne inner-suburban investment property market is in recovery mode, with a perceptible shift in the balance of power from buyers to vendors, according to property investment adviser Monique Sasson Wakelin.
She maintains the latest data suggests the inner-suburban investment property market is in “recovery mode.”
“You won’t see it in the statistics published in our metropolitan daily newspapers because they concern themselves with city-wide data, which, as the table shows, only indicate a flat market.”
<img src="/images/stories/moniqueswmay8.gif">
The Melbourne inner-suburban investment property market is in recovery mode, with a perceptible shift in the balance of power from buyers to vendors, according to property investment adviser Monique Sasson Wakelin.
She maintains the latest data suggests the inner-suburban investment property market is in “recovery mode.”
“You won’t see it in the statistics published in our metropolitan daily newspapers because they concern themselves with city-wide data, which, as the table shows, only indicate a flat market.”
But she suggests investment-grade assets two to 12 kilometres out from Melbourne’s CBD are improving.
“The feedback from our team of property advisors who are in the market six days a week is that prices for this category have clawed back around half of the decline in prices experienced since the previous market peak in 2010 – a testament to their resilience and quality even in a challenged market,” she says.
Sasson Wakelin blogged that another illustration of the “two-speed Melbourne market” was auction clearance rates.
“Melbourne-wide, these are sitting at around 60% for 2012.
“That in itself is good news, being several percentage points higher than the corresponding numbers for the second half of 2011.
“Nevertheless, we are finding a higher clearance rate for top quality investment property – it is back at around 75%.”
She concedes the pace of the upswing was measured.
“The market isn’t exhibiting the volatility that can appear when it really takes off – at least not yet.
“That’s good news, as it provides more certainty and transparency about what is fair value for market participants,” she says.
“Another positive for the market was the reasonable level of quality stock at the moment.
“If you’re looking for a quality asset, now is a time you can be confident of finding it.”
“Similarly, those who are seeking to sell can expect growing interest from buyers,” she says.
With this backdrop of an already recovering market, she expects the 50-basis-points drop in the cash rate by the Reserve Bank last Tuesday, plus the prospects of further cuts in coming months, to provide further support.
 
 
 
</body></html>

jchancellor-FAypfDUnLy

Inner-suburban Melbourne market in recovery mode: Monique Sasson Wakelin

<html><body>
Rural towns in Victoria’s east dominated the list of Victorian localities with the greatest gross rental yields for houses. Houses in Dimboola, north of the Grampians, had the highest yields at 8%. Corinella had the highest weekly median rent at $320 of regional Victorian localities.
<table border="0" cellspacing="0" cellpadding="0" width="380"><tbody>
<tr>
<td valign="bottom" nowrap width="92">
Locality
</td>
<td valign="bottom" nowrap width="144">
Gross Rental Yield (%)
</td>
<td valign="bottom" nowrap width="144">
Weekly Median Rent
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Dimboola</a>
</td>
<td valign="bottom" nowrap width="144">
8%
</td>
<td valign="bottom" nowrap width="144">
$145
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Ararat</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$220
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Corinella</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$320
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Merbein</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$200
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Mortlake</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$188
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Nathalia</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$210
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Red Cliffs</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$220
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
<a target="_blank" href="/news">Seymour</a>
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$250
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
Terang
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$225
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
Warracknabeal
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$155
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="92">
Yallourn North
</td>
<td valign="bottom" nowrap width="144">
7%
</td>
<td valign="bottom" nowrap width="144">
$180
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
 
 
</body></html>

The top 10 regional Victorian localities with the highest rental yields: RP Data

<html><body>
Vendor discounting levels for houses in some cities have increased over the year but there have been slight reprieves for sellers in recent months, according to a new report by RP Data.
Across Australia vendor discounting is now at -7.2% for houses and -6.1% for units.
The resource boom cities of Darwin and Perth were the only capitals where the average discount necessary to secure a sale for houses was lower in March 2012 than in March 2011.
Average discount levels for units went up in four capital cities (Melbourne, Adelaide, Hobart and Canberra) over the year, remained unchanged in Sydney and went down in the rest.
Click to enlarge
<img src="/images/stories/rpmay112thumb.gif">
Houses are taking longer to sell in most capitals than they were last year. The average time on market has decreased in Brisbane, Perth and Darwin compared with the same time last year but has increased in all other capitals.
Click to enlarge
<img src="/images/stories/rpmay114thumb.gif">
“The improvement in vendor metrics in Brisbane, Darwin and Perth and the weakening conditions in Melbourne is a reflection of the overall market conditions highlighted by the amount of stock currently available for sale across these cities,” says RP Data senior analyst Cameron Kusher.
Click to enlarge
<img src="/images/stories/rpmay111thumb.gif">
Kusher notes that the increased time properties are lingering on the market is an indication of increased volumes.
“The elevation in the volume of stock available for sale certainly reflects a lower level of demand for housing credit,” Kusher says.
Click to enlarge
<img src="/images/stories/rpmay112thumb.gif">
Recent figures from Australian Property Monitors, which include both units and houses, show that <a href="https://www.propertyobserver.com.au/residential/sunnier-property-market-outlook-across-australia-as-vendor-discounting-peaked-in-mid-2011-apm/2012051054637">the average discount required to secure a sale</a> has increased in Sydney, Melbourne, Adelaide, Canberra and Darwin.
APM’s data also shows that the level of discounting peaked in mid- to late 2011, and that the lowest level of discounting required to secure a sale for the past year was in early 2012, for the most part. APM notes that the average discount has increased in recent months in most capitals.
APM data also notes that the number of days property is lingering on the market <a href="https://www.propertyobserver.com.au/residential/sunny-days-of-quick-sales-long-behind-in-most-capitals-as-property-stock-lingers-on-the-market-apm/2012050854592">has increased in most capitals</a> compared with this time last year.
</body></html>

Vendors somewhat stubborn as time on market increases in most capitals: RP Data

<html><body>
It turns out that the RBA has indeed (at least superficially) "misread" the economy, as so many commentators are keen to claim. Awkwardly, however, it seems to have materially underestimated the strength of our labour market, which its research suggests is the single most powerful predictor of future inflation. Despite both the RBA and the Treasury forecasting that Australia’s jobless rate would rise to 5.5%, and using this as a key justification for lower rates (alongside a temporary decline in the prices of internationally traded goods and services), it appears, as I had previously argued here, that the peak in the unemployment rate is behind us.  According to the official statistician, Australia’s seasonally adjusted unemployment rate fell to 4.9% in April from a downwardly revised 5.1% in March. But let’s avoid the temptation of looking at a single month of data. As the chart below clearly shows, the three month “moving average” jobless rate has been falling steadily since September 2011, ironically just before the RBA started slashing rates. It is now nearly a full percentage point below its 5.8% peak during the GFC. 
Click to enlarge
<a href="/images/stories/may10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/may10thumb.gif"></a>
The monotonic decline in the unemployment rate since the second half of 2011 tells us a few things. First, the economy is not about to head into a protracted recession. Nor is the economy likely expanding at a rate that is significantly below trend (or capacity). In fact, the jobless rate implies that the labour market is near-fully employed. This in turn tells us that the economy is not in dire need of further interest rate relief. Having said that, the volatile and prone-to-revision GDP data could very well confuse the issue. As the RBA has noted, the National Accounts are difficult to interpret when the country is undergoing a very lumpy and capital intensive private investment boom.  The second thing the unemployment rate tells us is that the high circa 3.5% per annum domestic (or “non-tradable”) inflation consistently recorded by the ABS is likely to be a permanent presence. In contrast, the “tradables” deflation induced by the striking appreciation in Australia’s exchange rate is, as I have explained before, a temporary event. Indeed, with the Aussie dollar now down about 8% from its 2011 highs, the deflation in internationally traded products that helped pull down Australia’s core inflation rate will likely have the opposite effect going forward. You are unlikely to hear or read many of these arguments from other commentators. Most analysts are forecasting an increase in unemployment combined with a lower cash rate. Anyone with a commercial interest in the Australian equities and/or housing markets, including, importantly, almost all retail bankers, has been clamouring for rate cuts ever since the RBA appropriately tightened policy in November 2010. The Gillard government, its lobbyists and public proxies, are pinning their fragile political prospects on below-average lending rates. And the hysterical complaints of the trade-exposed industries almost always overwhelm the silent savers and retirees. It is interesting to contemplate what the RBA might have done at its May board meeting had it had the benefit of this information and the Commonwealth budget. At face value, the super-sized 50 basis point cut would have been off the table. And a single 25-basis-point reduction might have been a less than certain proposition.
Christopher Joye is a leading financial economist and a director of <a target="_blank" href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
</body></html>

chrisjoye-JYhJsTrNRC

Unemployment data shows RBA misread the economy in double rate cut: Christopher Joye 

<html><body>
Amid the mass of statistics describing city property this year, there is this underlying message: recovery.
Data from three key sources shows the decline in values in the eight state and territory capitals was arrested in the March Quarter – and in some cases prices started to rise again.
Looking at the weighted average across the eight cities, Australian Property Monitors records a small rise in the median house price, RP Data effectively reports no change and the Australian Bureau of Statistics says there’s been a further small decline.
For apartments, both RP Data and Australian Property Monitors both report small rises in the March Quarter (the ABS doesn’t have data on units).
In most cases, median price levels are still below those of a year ago, but the March quarter is the first genuinely positive result since 2010.
It’s not always easy to find patterns when examining figures from multiple sources, because there are difference methods which often produce puzzling contradictions. The ABS says Hobart house prices fell 2.7% in the March quarter, but RP Data says they rose 6.5%. Melbourne is given a small rise by one source, a small decline by another and a significant decline by the third. Go figure.
These variances can be frustrating for investors trying to see trends in the published data.
But here’s what we can say for sure about house price levels in the eight capital cities:
<ul>
<li>More house markets rose than fell in the March quarter. APM says five of the eight cities showed rising prices, while the ABS reports rises in four cities.</li>
<li>Darwin was the star performer, with all three research sources recording strong increases in the quarter, ranging from 4.3% to 6%.</li>
<li>Canberra’s market was solid, with all three sources recording no change or a small rise (this may change later in the year, following Wayne Swan’s cuts to the public service).</li>
<li>Brisbane has arrested the decline caused (partly, at least) by the January 2011 floods. One source recorded a small rise in the house median in the March quarter, while the other two reported very small declines.</li>
<li>Perth, like Brisbane, is no longer a falling market. The ABS and APM both report small rises in Perth’s median house price.</li>
<li>Sydney achieved a positive result in the March quarter, according to both RP Data and APM. </li>
</ul>
In annual terms, most cities are still in the red, although the ABS credits Darwin with a 3.5% annual rise.
Brisbane prices are still below pre-flood levels, but not by much. The ABS says Brisbane’s index is down 3.7%, and APM reports a median price drop of 4.1%. That’s a pretty solid effort considering the devastation inflicted by the elements and makes nonsense of the more hysterical media claims at the time (one TV news bulletin predicted a 50% collapse in Brisbane values).
Hobart and Melbourne are in the worst positions, relative to early 2011. The ABS and RP Data have Hobart down 7% or 8%, and Melbourne’s annual decline is around 6% or 7%.
The results for apartments in March quarter were strongly positive. RP Data reports rising medians in all capital cities except Brisbane.
APM, a little less bullish, reports rises in Sydney, Darwin, Canberra and Hobart, and no change in Perth.
Both sources agree that median unit prices rose in Canberra, Darwin, Sydney and Darwin, with essentially no change in Perth.
These figures represent average situations across the major cities and hide myriad differences in sub-markets. But the patterns are important and primarily they tell us that most residential markets in our capital cities have stopped declining – and that some have started rising.
These results pre-date the interest rate cuts now being handed out by lenders and that suggests more positive markets this year than last, though rises should be moderate in most cases.
If you want serious growth in prices and rents, you need to head to the regions.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" target="_blank">followed on Twitter</a>.
 
 
 
</body></html>

terryryder-YECXbqmri2

Regions to offer higher price and rental growth than recovering capital cities: Terry Ryder

<html><body>
Unemployment in April fell to a surprise 4.9%. The March figure was an unrevised 5.2%.<o:o:o:o:o:o:o:p></o:o:o:o:o:o:o:p>
Total employment rose 15,500 to 11.501 million in the month, according to the Australian Bureau of Statistics.
HSBC chief economist Paul Bloxham says the data is a good sign for employment trends in Australia.
He adds that the data will likely convince the Reserve Bank of Australia to keep the cash rate on hold.
He reaffirmed his expectations of the RBA keeping rates on hold for the rest of this year, having said straight after the May RBA meeting that "given the recent improvements in the labour market and business conditions, combined with the fact that rates are now at expansionary levels, we think this could be the end of the loosening cycle."
RBC Capital Markets economist Su-Lin Ong says the RBA would delay any further rate cuts until after June because of the strong jobs data.
AMP Capital chief economist Shane Oliver tweeted that it was "Great news but hard to believe given anecdotes. Still see unemp rising over next six months."
The latest job cuts came today at Australia's largest dairy food processor and marketer, co-operative Murray Goulburn, which is cutting a further 300 positions inaddition to the 64 jobs shed in March, when Murray Goulburn announced it would shut down its milk driers at Rochester in northern Victoria.
The state by state unemployment break up was:
<li>NSW: 4.9% (March: 4.8%)</li>
<li>Victoria: 5.3% (5.8%)</li>
<li>WA: 3.8% (4.1%)</li>
<li>Qld: 5.1% (5.5%)</li>
<li>SA: 5.2% (5.2%)</li>
<li>Tasmania: 8.3% (7%)</li>
 Savanth Sebastian, the CommSec economist, notes that "importantly the improvement has been over the past two months and the next couple of months will confirm if the pickup in employment is sustainable".
"The Reserve Bank is likely to still remain open to rate cuts in coming months – particularly given that inflation is holding at the low end of the 2-3% target band and given the ongoing troubles in Europe.
"As such CommSec is still pencilling a further quarter of a per cent rate cut in August."
 
 
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News