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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
The tax breaks for green buildings program was announced as part of the 2010 government election commitment.
After an initial delay on its intended implementation date, it was signalled that from July 1, 2012 that eligible businesses that invested in improving the energy efficiency of their existing buildings would be able to apply for a tax break. The decision will save more than $400 million over the next three years, and more over its eight years expected time frame.
No legislation was ever introduced. Earlier this month concern was expressed that the scheme would be postponed or dropped was expressed by David Parken, CEO of the Australian Institute of Architects.
“While we have good regulations for new buildings that improve energy efficiency and reduce carbon emissions, existing built stock is a sleeping giant and needs a total makeover.
“If industry concerns are realised in Tuesday night’s budget announcement, it will be extremely disappointing,” Parken said before the budget.
The Institute voiced its support for the program when it was announced as an election commitment of the Gillard Government in 2010 and industry members have gone to great lengths to work with the government in fine tuning the logistics of the program.
“This scheme goes a long way in securing a reduction in carbon emissions, but also has the potential to create thousands of much needed jobs in the building and construction industry.
“To delay or indeed drop the scheme would be counterproductive to Australia’s commitment to reducing greenhouse gas emissions and a blow to the green jobs sector,” Parken said.
Businesses that invest in eligible assets or capital works would have extra incentive to improve the energy efficiency of their existing buildings.
Under the program, businesses would be able to claim a one-off bonus tax deduction of up to 50 per cent of the cost of the eligible assets or capital works. The scheme was expected to commence from 1 July 2011, but was postponed following extensive industry consultation, with the Australian Government committing to a 1 July 2012 start date.
According to the chief executive of the Green Building Council of Australia (GBCA), Romilly Madew, scrapping the promised $1 billion Tax Breaks for Green Buildings program would prevent Australia from picking the‘lowest of the low hanging fruit’, says the nation’s leading green building organisation.
“Buildings represent the fastest, most cost-effective opportunity to reduce our greenhouse gas emissions. They are truly the lowest of the low-hanging fruit,” she says.
The $1 billion tax break would have covered specified expenditure, which is incurred as part of a qualifying retrofit of an existing office building, hotel or shopping centre.
The retrofit would have had to be assessed by an accredited National Australian Built Environment Rating System (NABERS) assessor before and after the project.
To be eligible for the tax break, the building would have had to achieve a significant improvement in energy efficiency.
The tax breaks for green buildings program would have complemented other Australian government programs such as the Commercial Buildings Disclosure program. Action to improve the energy performance of Australia’s building stock is an important factor achieving Australia’s emissions reduction objectives.
The government announced in April 2011 to conduct further consultations around the tax breaks for green buildings program.
The government will continue to consult widely to ensure the scheme provides the right incentives for building owners to implement energy efficient retrofits.
The Parliamentary Secretary for Climate Change and Energy Efficiency Mark Dreyfus had indicated that it was proposed to provide $1 billion in support to the property industry over 8 years to improve the energy efficiency of older, less-efficient buildings around the country.
</body></html>

jchancellor-FAypfDUnLy

Federal budget 2012: The abandoned tax breaks for green buildings promised $1 billion for property developers and investors

<html><body>
The government would like you to believe that the federal budget is the most important event this week, but Craig James, the CommSec economist, says data on retail spending and employment are the highlights.
James noted the retail spending showed a rise of 0.9% in March, the strongest gain in 11 months.
After adjusting for inflation, retail trade rose by 1.8% in the March quarter, the biggest gain in almost three years.
“Australia’s retailers have finally something to celebrate,” James says.
“No one will be getting carried away with one month’s sales result.
“But it shows there is life out there in consumer land.
“The big winners have been specialised food stores, cafes and restaurants with consumers seemingly giving up on renovating and decking out their homes and focussing on food instead.
“The lift in sales at butchers, bakers, fruit &amp; veg shops and seafood stores over the March quarter was the best in five years.
“And the increase in cafes and restaurant trade was the best in 18 months.
“Cheaper prices had a lot to do with it – even prices at cafes and restaurants fell 1% in the March quarter – a record fall.”
James says the biggest casualty was in household goods like carpets, furniture, hardware and garden supplies, where spending slumped 3.3% in inflation-adjusted terms over the March quarter.
He says the clear conclusion from the raft of economic data out is that the Reserve Bank can cut rates again.
“However, the RBA is likely to take a few more months to weigh up all the influences, with CommSec pencilling in a rate cut in August after the next inflation data.
“And that brings us to the April employment figures on Thursday.
“Clearly the data has been volatile, with jobs up 44,000 in March after falling by 15,400 in February.
“We tip a modest 5,000 lift in jobs in line with sedate job ads data.
“The unemployment rate is likely to hold near 5.2% or rise slightly.”
Shane Oliver from AMP Capital says the focus will be on the 2012-13 Budget with his attention of the danger that budget cutbacks could discourage longer term savings and investment.
Oliver suggests a return to surplus will add to the scope for the RBA to cut interest rates further, and any surplus will add to confidence in the minds of foreign investors regarding Australia's underlying economic strength at a time when most other countries are still struggling to bring deficits under control.
"It will start to put the public finances back into the position where they can provide another bout of stimulus should the global economy take another turn for the worst," he said.
 

<ul type="disc" style="margin-top: 0cm;">
 
</ul>
 
 
 
</body></html>

Federal budget not the only game in town, with Thursday's employment data the next key tracking indicator: Craig James

<html><body>
The Real Estate Institute of Australia (REIA) failed in its desire for the federal government to enhance the first-home buyers’ scheme to stimulate the housing market.
“One of the most effective housing policy instruments in assisting first home buyers is the first-home owners’ grant, but it has been allowed to lose more than half its value relative to purchase prices since it was introduced in 2000,” REIA president Pamela Bennett said before the budget. When the FHOG was introduced in July 2000 the median house price across Australia was $220,443. It is now about $521,230.
The REIA noted first-home buyers had been cautious during 2012, with the number of first-home buyers as a percentage of total owner occupied housing commitments decreasing to 17.2% – down from the long-term average of 20.2%.
The REIA is urging the government to review the amount currently provided.
Bennett suggests with more than two-thirds of first-home buyers preferring established housing, it is essential the scheme continued to apply equally to buyers of new and established homes.
The REIA 2012 pre-budget submission also sought:
<ul class="unIndentedList">
<li>No Capital Gains Taxes (CGT) on the family home. </li>
<li>No increase in CGT on property investments. </li>
<li>Removal of stamp duty on property transactions. </li>
<li>Retention of current arrangements for negative gearing of property investments. </li>
<li>The implementation of a scheme to allow first home buyers access to their superannuation for the purchase of a home. </li>
<li>Monitoring of the Housing Affordability Fund (HAF) and National Rental Affordability Scheme (NRAS) to observe its effects on housing supply and to conduct a review which considers additional measures to bridge the demand - supply imbalance. </li>
<li>Ensuring that the National Housing Supply publishes its State of Supply Report in a timely manner. </li>
<li>The appointment of a National Small Business Commissioner. </li>
</ul>
 
 
 
<ul class="unIndentedList"></ul>
</body></html>

First-home owners’ grant stays the same without the boost sought by the REIA

<html><body>
Centro Retail Australia has requested an ASX trading halt of its stapled securities.
It’s pending an announcement regarding class action litigation settlement discussions.
CRF has a halt in place until May 10, or earlier subject to any resolution to the $200 million class action.
A Federal Court trial began in March and is due to finish by the end of July after two investor class actions, one run by Maurice Blackburn and the other by Slater &amp; Gordon, began regarding Centro’s 2007 accounting problems and its near-fatal collapse.
Shareholders allege the now defunct Centro Properties and Centro Retail breached continuous disclosure obligations and engaged in misleading and deceptive conduct in 2007 – something that both entities have denied.
Centro Retail is now part of the new merged entity Centro Retail Australia, the responsible entity for the Centro group.
A Centro Retail Australia lawyer indicated to the court that his client would likely argue it was not liable for the potential liabilities of the old Centro entities.
Last week Centro indicated trading activity had slowed at its $4 billion portfolio of shopping centres over the last 12 months, but that it was confident it could meet its full-year financial forecasts.
The company, which is the largest single landlord of Coles and Woolworths supermarkets, confirmed it was on track to meet its inaugural full-year earnings forecast of 15.3¢ per security, and a distribution of 6.4¢.
</body></html>

Centro Retail class action settlement looms

<html><body>
Without measures to address housing costs, Australians for Affordable Housing says tonight’s federal budget will fail those struggling with the single biggest household expense. 
“With one in 10 households in housing stress, rents increasing at twice the rate of inflation and almost 250,000 people on public housing waiting lists across the country, a true ‘battler’s budget’ would be investing in more low-cost rental housing and addressing the tax breaks that drive up house prices,” says Australians for Affordable Housing campaign manager Sarah Toohey.
She made the comments after research released by Anglicare Australia last week showed not one rental property in Canberra, Sydney, Melbourne, Brisbane, Perth, Darwin or Adelaide was affordable to a single person receiving Newstart, Youth Allowance or Austudy, and very few were affordable to households earning the minimum wage. 
“While the Treasurer would argue that delivering a surplus means the RBA can cut interest rates, interest rates are only half the story when it comes to housing affordability, and only third of all households actually have a mortgage,” Toohey says. 
“A third of Australian households rent their home and won’t benefit one bit from interest rate reductions.
“The rental market is also where house stress is highest and one in four households struggle to make the rent”. 
Toohey suggests the federal government could deliver immediate rent relief to almost 100,000 households with an increase in the maximum rate of Commonwealth Rent Assistance, and make a down payment on the long term by investing in a $2.5 billion affordable housing growth fund.
“This is the kind of investment we need to see in tonight’s Budget for those really struggling with the cost of living,” says Toohey. 
The <a href="https://housingstressed.org.au/wp-content/uploads/2012/02/AAH_12_Memo_Federal-Budget-Statement-final_SD_060212.pdf" target="_blank">Australians for Affordable Housing 2012-13 budget statement can be found here</a>.
 
 
</body></html>

Budget must address low-cost rental housing to help battlers: Australians for Affordable Housing

<html><body>
Property is taking longer to sell in all capitals than it was a year ago, data released by Australian Property Monitors, although Canberra is showing signs of speedier sales over the past few months.
During April this year Melbourne, Brisbane and Perth stock lingered on the market for the longest amount of time since April 2011.
As 2012 came out of its summer holiday slumber, Sydney's slowest-selling months were January and February, when it took an average of 95 days to sell property. But by April it still took an average of 94 days to secure a sale in Sydney.
According to APM, Darwin has the slowest market, with properties typically taking 153 days before finding a buyer.
 
Click to enlarge
<a rel="shadowbox" href="/images/stories/apmmay8.jpg" title="Click to enlarge"><img src="/images/stories/apmmay8thumb.jpg"></a>
</body></html>

Sunny days of quick sales long behind in most capitals as property stock lingers on the market: APM

<html><body>
The state of smoke alarms in rented housing is back on the agenda.
NSW State Coroner Mark Buscombe recently recommended that real estate agents regularly check and maintain smoke alarms in the homes they manage.
The comments came at the inquest into the 2010 death of a man in a Hamilton house fire, near Newcastle.
Smoke detectors became mandatory for all NSW residential buildings in 2006.
Tim McKibbin, CEO of the Real Estate Institute of NSW, says that residential leases make it clear who is responsible for smoke alarms.
“The reality is that the landlord is required to have a working smoke alarm in the premises while the tenant is required under the lease to replace batteries in a smoke alarm,” says McKibbin.
The practice among some tenants of removing batteries from smoke detectors to use elsewhere, usually in a television remote control, was so prominent that such interference is now forbidden and enshrined in the NSW Residential Tenancies Act.
According to the Tenant’s Union of NSW, if a detector gives a false alarm triggered by cooking, tenants should not remove the battery or disable it.
“Contact the landlord or agent and ask for the alarm to be moved to a more suitable location or replaced with a different style of alarm,” the organisation says.
Fire &amp; Rescue NSW will replace old smoke alarm batteries for free for the elderly and people with mobility problems.
</body></html>

andreadixon-oif3j7eKne

NSW Coroner issues warning about smoke alarms in investment properties

<html><body>
Burgess Rawson sold seven Woolworths Caltex petrol stations last week for as $10.96 million total, but a similar portfolio of service stations two years ago sold at lower yields, averaging about 5.5%.
The slightly higher yields on the latest sales shows that the market has softened marginally, Burgess Rawson director Simon Staddon suggests.
Prices ranged between $1.1 million at Childers in Queensland to $2.15 million at Balwyn in Melbourne.
The yields ranged between Balwyn’s 5.49% to 6.73% in Childers.
They were offered with new full term 15-year leases with five renewal options of five years each to 2052. Rents will be reviewed annually in line with the consumer price index, up to a maximum of 4%. Burgess Rawson issued 160 contracts to interested parties.
The yields are similar to those for <a href="https://www.propertyobserver.com.au/retail/self-funded-retirees-continue-to-snap-up-nsw-7-elevens-service-stations-drawn-by-high-yields/2012032754031">7-Eleven stations that recently sold in NSW</a> and <a href="https://www.propertyobserver.com.au/retail/five-out-of-six-queensland-based-7-eleven-service-station-sell-as-one-further-melbourne-store-listed-with-%2425-million-hopes/2012042954425">Queensland</a>.
 
 
</body></html>

Seven Woolworths Caltex petrol stations sell with slightly higher yields than those sold two years ago

<html><body>
<a target="_blank" href="https://www.Thehomepage.com.au">Thehomepage.com.au</a> property portal now offers a new Chinese-language listings category.
Property developers have embraced the new Chinese-language listings opportunity, with more than 50 off-the-plan property development advertisements upgraded to appear in both English and Chinese only one week into the new feature.
<img src="/images/stories/homepagechinese.jpg">
Chinese buyers, both local and from Asia, account for about 60% of enquiries and purchases in developments across Australia, according data collected from developers by Thehomepage.com.au.
Thehomepage.com.au chief Ben Stockdale says it is the only major Australian portal with listings in Chinese.
Thehomepage.com.au’s listings are translated into Mandarin by a team of linguists.
 
 
 
 
 
</body></html>

Property portal Thehomepage now offers Chinese language listings

<html><body>
Interest rates plummet!  Rates slashed!  Well, this assumes that most of the official cut is passed on.  A 0.5-percentage-point cut in the cash rate really indicates two things – the economy is indeed a lot more sluggish that the RBA predicted and that the banks will only pass on some of the drop, not all of it.

Falling <a href="https://www.propertyobserver.com.au/residential/government-taxes-and-grants-have-distorted-the-property-cycle-and-an-interest-rate-cut-might-not-help-michael-matusik/2012042954464" target="_blank">interest rates are unlikely to have much impact on the overall residential market</a>.

But where a 0.5 percentage point fall in the cash rate will have some impact is with those investors who have been content to leave their money in the bank (or in cash in their super funds).  They now face some choices.

Gross rental yields on well-positioned and well-credentialed new investment properties are often over 5%. These returns have now become much more attractive and are on top of potential rental growth plus possible increases in capital values in coming years.

The vacancy rate across urban Australia is 1.7% and as low as 1.5% in Brisbane.  The vacancy rate is just 0.8% in Canberra, 0.6% in Darwin and 0.5% in Perth.

The ABS house price figures – out earlier this week – show that while residential values across the country continue to slide (down 1.1% during the March quarter), they are starting to rise in Darwin (up 4.4%); in Canberra (1.2%); in Perth (up 1.1%) and in Brisbane (0.4%).

There is no accident regarding the correlation between the last two paragraphs.

This residential property cycle will be driven by investors and investment property.  The owner-resident market – and especially those trading older second-hand stock – will struggle to find a half-decent upturn this time around.

Astute investors are already trolling for bargains.  The 50-basis-point cut will bring more investors into the market.  But they will be savvy.  They won’t buy anything.  They will take their time.

But the right new stock – with the right price tag/returns – will sell.

Brisbane is Australia’s third largest city and is the Queensland state capital and key business and financial centre for the state. Queensland (2.4%) and Western Australia (2.8%) are Australia’s two fastest-growing Australian states, with GDP growth well above the national average of 1.9%.

In a recent Jones Lang LaSalle report – A New World of Cities – Brisbane and Perth were identified as two of the fastest-growing cities in the world in terms of GDP.  Brisbane tops the list of the world’s 20 fastest growing new cities in terms of GDP, with Perth ranked seventh.

The mining boom in coal and gas principally drives Queensland’s growth.  The Queensland Resources Council estimates there are $165 billion worth of resource projects in Queensland under consideration, committed or under construction.  This investment is a major stimulus to white-collar employment growth in Brisbane.

Jones Lang LaSalle estimates that resource-related demand, including service companies such as engineers, would warrant the building of five to 10 new office buildings of about 64,000 square metres in the next 10 years for the Brisbane CBD and fringe.  Savills have made similar predictions.  It estimates that direct mining-related employment would require between 52,000 and 80,000 square metres of CBD office space by 2020.

White-collar employment growth in Brisbane will drive new dwelling demand from professional and executive singles and couples.

Brisbane’s resident population has been increasing by around 15,000 per annum, according to the most recent growth statistics.  This growth is expected to continue.
<img src="/images/stories/matumay81.gif">
Brisbane is at the bottom of the residential cycle.  The capital has been through some shite in recent years, but now is its time to shine.  The recent state and local government landslide victories will further help this recovery.

Viva la Brisbane!
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/matumay82.jpg"><img src="/images/stories/matumay82thumb.jpg"></a>
Given the recent hysterical media coverage about home loan delinquencies and property repossessions, one would think that most Aussies were being tossed out on the street.  Those nasty banks!  Filthy bastards.

But wait a minute, even if the figures most often used to measure delinquency and repossessions were correct (they aren’t, by the way), on average just 1.6% of securitised home loans are in arrears (delinquency), and just 0.6% are three or more months behind, and a paltry 0.15% of residential property across the country is being repossessed by the banks.  So what is all the fuss about?  WTF is an appropriate response.  This <a href="https://matusik.com.au/chartsDetail.php?WTF-20">chart</a> illustrates the extent of the problem very clearly.

And if only the damn figures were right to start with.

The Fitch report – which is the usual media source for all of this nonsense – states that Australian home loan delinquencies had risen over the last six months, while the RBA’s Financial Stability Review finds quite the opposite.

The difference between the two reports is explained by what they cover.  The RBA’s analysis includes all home loans on bank balance-sheets plus securitised loans: more than $1.2 trillion worth in total.  In contrast, Fitch’s research only covers securitised loans, which amount to less than $100 billion.  To be clear, these loans are included in the RBA’s sample, but represent less than 10% of the total.

The RBA concludes that total home loan arrears in Australia declined.  The arrears rate for housing loans (on banks’ domestic books plus securitised housing loans) declined to 0.6% in December, from 0.7% in mid-2011.

The same downward trend applies to property repossessions.  In fact, Australian borrowers are repaying their home loans more quickly than what is actually required by their lenders.  The RBA’s research reveals that these so-called “excess repayments” increased significantly over the course of 2011, which implies that household stress was on the decline.

The 0.5-percentage-point drop on Tuesday will further accelerate this trend!

Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
 
</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