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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 rental vacancy rate for Melbourne in March was 2.3%, a slight rise compared with the 2% recorded in December, according to the Real Estate Institute of Victoria.
It’s been sitting above 2% for 10 consecutive months, the first time since 2005.
REIV chief Enzo Raimondo says the level of vacant properties is “reasonably consentient” in the suburbs between zero and 20 kilometres from the CBD, with the inner-city vacancy rate at 2.3% compared with 2.4% in December.
The middle suburbs’ vacancy rate sits at 2.3%, compared to 1.2%.
“It is also clear that there is a higher level of vacancies in the suburbs within four kilometres of the CBD,” he says.
In regional Victoria the vacancy rate is 1.6%, continuing the trend of fewer vacant rental homes compared with Melbourne.
Of the three main regional centres, Ballarat now has the lowest level of vacancies, with 0.5% compared with 1.3% in December.
Bendigo, which has been below 1% for just under a year, has a vacancy rate of 0.9% compared with 0.5% in December.
“In both cases vacant rental homes are in short supply,” Raimondo says.
Geelong is more similar to Melbourne, with a vacancy rate of 2%, which has improved substantially for renters from the 0.9% recorded in December.
 
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jchancellor-FAypfDUnLy

Melbourne rental vacancy rises slightly in March: REIV

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The site of popular Fitzroy bar The Night Cat on Johnston Street has been listed for May 24 auction with $3.2 million plus expectations.
The bar has occupied the 670-square-metre building on the 842-square-metre Young Street corner location for nearly two decades.
Now the site is being marketed for its redevelopment potential.
<img src="/images/stories/nightcat1.jpg">
The Night Cat pays annual rent of $195,000, with a fixed 4% increase due February 2013 taking the passing rental to $202,772.48 per year net.
The lease expires January 2014, with no further options.
<img src="/images/stories/nightcat2.jpg">
Before opening as a bar in the early 1990s, The Night Cat site was a Greek reception room.
The receiver and manager PKF has appointed Colliers International's Jeremy Gruzewski and Andrew Ryan in conjunction with CBRE's Mark Wizel and Scott Callow.
<img src="/images/stories/nightcat3.jpg">
The receivership relates to an internal Deutsch family dispute. Their company bought the property in 1987 for $520,000.
Gruzewski says the Night Cat proprietor has indicated strong intentions to continue trading at the premises and is keen to talk directly with any interested buying party.
 
 
 
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Sun could be setting on Fitzroy bar The Night Cat as premises listed for auction  

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Rental increases on one-bedroom Sydney apartments – long considered the Cinderella of property investment – are now often exceeding rental growth increases on two-bedroom units.
And the one-bedroom units are no  longer confined to Sydney’s inner-city suburbs, with new developments in middle-ring council areas like Canterbury and Rockdale highlighting the trend, according to PRDnationwide research analyst Oded Reuveni-Etzioni.
Investors with one bedders are yielding strong gains in the median rental price, the study found.
Canterbury Council median one-bedroom rent increases have averaged 11.8% per annum over the five years to December 2011, according to PRDnationwide research analysis of government rental data across Sydney, the Hunter and Illawarra regions.
Strong gains in the median rent price of one-bedroom units were also recorded in the Rockdale municipality, along with the local government areas of Parramatta, Ashfield and Ryde.
The one-bedroom rental increases in Canterbury, Rockdale, Parramatta, Ashfield and Ryde easily exceeded the rental growth achieved with two-bedroom units over the past five years.
<img src="/images/stories/prdmay31.gif">
Source: PRDnationwide
Campbelltown was the strongest-performing local government area for two-bedroom units, with the median rent for a two-bedroom unit increasing by 12.6% per annum since December 2006.
<img src="/images/stories/prdmay32.gif">
Source: PRDnationwide
Fairfield, Liverpool and Canterbury also yielded strong rental rises during the period.
The City of Sydney recorded the highest rent price for both one- and two-bedroom units, with a median rent of $500 and $670 per week respectively.
Sydney City represented the largest unit rental market in NSW, with 30,139 government rental bonds held as of December 2011.
Sydney was closely followed by the Waverley local government area, with a weekly rent of $488 (one-bedroom unit) and $630 (two-bedroom unit).
Other municipalities to appear in top 10 highest rent price lists were Woollahra, Canada Bay and North Sydney, which represents the third largest unit rental market in the state, with 11,359 government-held bonds.
Maitland was the strongest performer outside of Sydney with 10% annual increases over the past five years for its two bedroom units.
PRD suggests the growth stemmed from large infrastructure projects that drew a transient population of construction workers, and from mining employees relocating to the Hunter and choosing to rent in the short term.
The highest regional rent price was paid in the Newcastle district, where a two-bedroom apartment recorded a median rent of $320 per week.
The City of Wollongong made up the largest rental market outside the metropolitan area, with 7,244 bonds held at December 2011.
“Savvy investors are attuned to the changing preferences of renters and recognise the growing rental markets in the middle and outer suburbs of the metropolitan area,” Reuveni-Etzioni says.
“Investment opportunities also exist in areas outside the metropolitan area, where strong demand and limited supply of units maintains the pressure on rent prices.”
Images courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
Apartment photo by<a href="https://www.allshotsimaging.com.au/" target="_blank"> Allshots Imaging</a>.
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One-bedroom apartments no longer property investment Cinderellas as rental growth spikes in NSW: PRDnationwide

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The Tasmanian housing market continues to struggle, with house prices falling throughout most of the Apple Isle.
While Hobart showed a modest increase of 1.6% in sales in the year to March 2012, its median house price was down 2.3% to $353,000, according to figures released by the Real Estate Institute of Tasmania (REIT).
Across Tasmania house prices dropped by 3.2% on the same time last year to a median of $300,000, the report says.
The figures reveal that people are not in trading mode as the number of sales has fallen dramatically. Only 1,252 houses sold in the 12 months to March this year – down 12.3% on the previous year.
Click to enlarge
<a href="/images/stories/reitmay2.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/reitmay2thumb.gif"></a>
It is not just the mums and dads that are staying home. Millionaires are avoiding residential deals, with a luxury $2.45 million Battery Point penthouse overlooking Hobart’s beautiful harbour languishing on the market for close to 200 days. It had been bought in 2006 for $1.8 million.
Battery Point has the highest median house price of $925,000 from eight sales, showing a rise of 17.8% in the year to March. Bridgewater, about 20 kilometers from Hobart in the state’s south east, was Tasmania’s least expensive spot, with a median price of $175,000 from eight sales, showing an increase of 2.9%.
<a target="_blank" href="https://reit.com.au/">According to the REIT report</a> it takes an average of 79 days to sell a Tasmanian house.
“The report wasn’t all doom and gloom though, with 11 municipalities reporting an increase in their median house price for the quarter, with six currently holding a higher median house price than the statewide figure. These included Clarence, Glamorgan/Spring Bay, Hobart, Kingborough, Sorell and the West Tamar,” says REIT president Adrian Kelly.
The rental vacancy rate also continued to increase in the March quarter, up 0.8% to 3.9%.
 
 
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Tasmanian house prices still falling: REIT

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The long-term prognosis for Australian residential real estate is sound. <place>Australia</place>’s population is forecast by the Australian Bureau of Statistics to grow from around 22.4 million in 2011 to 30.9 million in 2031, an increase of 34.6%. This underwrites residential property demand. The deficiency in numbers of dwellings increased from an estimated 22,700 in 2006 to an estimated 124,400 in 2011 according to BIS Shrapnel. This supports price stability. 
A-REITs such as Mirvac, Stockland and Australand have exposure to the residential property sector through residential property development. These A-REITs also have exposure to other asset classes such as office and retail. Recent sentiment towards those A-REITs with significant residential property exposure has been negative. Stockland recently revised down its 2012 financial year earnings estimate as a result of deterioration in the number of lot sales and settlements and adverse weather in NSW disrupting development. This revision was released only six weeks after the group reaffirmed earnings estimates in its first-half results announcement. The result was a 7.3% fall in the share price in the month of March. Compounding this have been tougher lending requirements for both home buyers and property developers. 
A-REIT balance sheets are sound and gearing levels are moderate. The larger diversified groups are able to pre-fund infrastructure works which are important in establishing buyer confidence and aesthetic appeal in a green-fields residential development. Sales volumes are currently more robust in lower value residential property. As a consequence, groups like Stockland are adjusting their planning to accommodate a higher proportion of lower price and smaller lot size residential product. 
Despite the current funding and sentiment challenges, those A-REITs with the capacity to deliver suitable residential product to meet the market will flourish over the medium to longer term.
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markwist-Vaq6S8Xoby

The place for residential property in A-REITs

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An industrial property at Clayton in Melbourne’s south-east industrial zone has been listed for sale with appeal to owner-occupiers, developers or investors. The property is expected to fetch about $7 million through Savills Notting Hill agent Lynton Williams.
<img src="/images/stories/whiteside.jpg">
“It has a large site of over three hectares, substantial buildings, acres of hardstand, and extensive street frontages providing excellent subdivision and/or redevelopment potential, subject to council approval,” Williams says.
"It is also superbly located within the heart of Clayton with easy access to the M1 Freeway via Blackburn Road and within close proximity of the Princes Highway.’’
Entry into and out of the site was ideal for articulated vehicles. The property comprises an office (881 square metres) and warehouse (7,860 square metres) and hardstand areas. The 3.073-hectare site has frontages to both Whiteside and Fairbank roads.
 
 
 
 
 
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Clayton industrial property seeking $7 million buyer

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There were 774 sales in Perth for the week ended May 2, compared with 608 for the same week last year, according to the Real Estate Institute of Western Australia. Last year Easter fell on April 24, so the comparable week last year was the week after the Easter/Anzac Day long weekend.
<img src="/images/stories/reiwamay2.gif">
 
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Perth sales up 27% on same week last year: REIWA

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There are several providers of statistics on Australian house prices, but only one that doesn’t have a vested interest in the direction house prices actually move in: the <a target="_blank" href="https://abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6416.0Main+Features1Mar%202012?OpenDocument">Australian Bureau of Statistics</a>. So despite the criticisms of this series – that it’s based on detached dwellings only, based on median sales data, too infrequent, not adjusted for “hedonic” differences between houses, etc, it’s the only one I trust.
Chris Vedelago wrote a very nice piece about how confusing the various commercial house price statistics are: "The Real Estate Institute of Victoria said the city’s median house price rose 0.9% in the March quarter. Except that, according to RP Data-Rismark, it fell 1%.Australian Property Monitors, which is owned by Fairfax, believes prices rose 1.6% in the three-month period. Residex, on the other hand, estimates values fell 1.9%… (“Confused about the market? We all are“, The Age,April 29) I’m happy to ignore these numbers – and even more so the spin doctoring that goes with them. The ABS numbers are in, and they show a 1.1% national fall over the March quarter. Sydney house prices fell 1.8% according to the ABS, whereas Australian Property Monitor alleged they rose 1.4% – the latter being the basis for Andrew Wilson’s latest piece “<a target="_blank" href="https://smh.domain.com.au/real-estate-news/confidence-rises-as-prices-bounce-back-20120427-1xokf">Confidence rises as prices bounce back</a>” (The Sydney Morning Herald, April 28). Yeah, right. Australian house prices have now fallen 6.1% from their peak, and have been falling for 21 months, which is the longest downturn in nominal prices ever recorded by the ABS – the previous longest being the 12 months from the beginning of the GFC (which was terminated by my favourite government policy of all time, the First Home Vendors Boost). Figure 1: Nominal house prices have fallen 6.1% since June 2010
<img src="/images/stories/keenmay21.gif">
I’m sure the usual spruikers will come out with why this is now the bottom, and it’s a good time to buy, and there wasn’t an Australian house price bubble, and the shortage will drive up prices, and…  So let’s put the current data in the context of the bursting of acknowledged overseas house price bubbles. Firstly the inflation adjusted data: in real terms, house prices have now fallen 10% from their June 2010 peak, and are back to a level they first reached in late 2007. Figure 2: Real house prices have fallen 10% since June 2010
<img src="/images/stories/keenmay22.gif">
Now let’s compare the Australian experience to date with the Japanese and US experiences – where no one, not even <a target="_blank" href="https://www.federalreserve.gov/boarddocs/testimony/2005/200506092/default.htm">Alan Greenspan</a>, denies that there was a housing bubble.  The Japanese bubble peaked in June 1991; the US bubble peaked in May 2006; and Australian house prices peaked in June 2010. Figure 3 shows the three declines from the peak, and while the Australian experience so far is clearly better than the US’s, it’s only a whisker better than the Japanese experience to the same date after the peak. Figure 3: Comparing Japanese, US and Australian house prices from their peaks
<img src="/images/stories/keenmay23.gif">
Anyone who takes comfort from that should also consider the longer-term perspective – see figure 4. Figure 4: The long-term picture for Japan and the USA
<img src="/images/stories/keenmay24.gif">
The motive force behind Australia’s bubble was the same as in the US and Japan: accelerating debt drove rising house prices during the boom. Now in both those countries, decelerating debt is driving house prices down. The same pattern applies in Australia – see figure 5. Figure 5: Mortgage acceleration drives change in house prices
<img src="/images/stories/keenmay25.gif">
Don’t take heart from the uptick in acceleration at the end of the series there: for that to be sustained into the future, ultimately Australian mortgage debt would need to start rising (compared to GDP). But mortgage debt grew more rapidly here and reached a higher peak than in the US (see figure 6); the odds that it will rise again are slim. Figure 6: Australian mortgage debt exceeded the US’s
<img src="/images/stories/keenmay26.gif">
And even though the actual level of mortgage debt is still rising, it’s doing so at the slowest rate ever recorded by the RBA (see figure 7). Figure 7: Annual growth in mortgage debt (with series break in 1991)
<img src="/images/stories/keenmay27.gif">
The odds are that the rate of decline will accelerate in the next year – since as Leith van Onselen pointed out <a target="_blank" href="https://www.macrobusiness.com.au/2012/04/tax-stats-unmask-negative-gearing/">yesterday</a>, many baby boomers are relying on rising house prices to secure their retirements. Now that house prices are falling, and have been doing so for almost two years, many of these boomers – 74% of whom earn less than $80,000 a year, with the average investor losing over $9000 a year on these “investments” – could decide to get out rather than continue to absorb losses. The unwinding of their leveraged positions could push mortgage growth below zero, and of course accelerate the house price fall. Steve Keen is a professor of economics and finance at the University of Western Sydney and author of Debunking Economics and the blog <a target="_blank" href="https://www.debtdeflation.com/">Debtwatch</a>.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
 
 
 
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stevekeen-hGRrVP8sYD

ABS figures show Australia's housing price bubble is bursting: Steve Keen

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Queensland’s plague of natural disasters has been blamed for the sunshine state’s struggling rental market.
Residential vacancy rates there are mostly below 3%, which is the excepted figure for a balanced market in terms of supply and demand, according to figures released by the Real Estate Institute of Queensland (REIQ).
REIQ chief executive officer Anton Kardash says the contraction is a result of slowing house sales and disaster recovery.
“Until recently we had many potential first-home buyers and investors sitting on the sidelines while our market and economy recovered from the natural disasters last year, which has put pressure on our rental market,” he says.
Brisbane’s vacancy rate fell to 1.7% from 2.3% in December last year. The inner city was at 1.4% in March this year, down from 1.9% in December 2011.
Queensland’s major regional markets are in worse shape, with the amount of available homes to rent in regional Rockhampton at just 1%. In March last year the vacancy rate there was 1.8%, and that dipped to 0.9 % in December, reflecting rental trauma for tenants.
The resources boom town of Gladstone has a vacancy rate of just 1.4%, and a luxury four-bedroom, two-bathroom house near town will give tenants little change from $1,000 a week.
In far north Queensland the Cairns rental market is also undersupplied, with tight vacancy rate of 2.5%, showing a fall of 0.7% in 12 months. Bundaberg has shown some improvement, with vacancy rates increasing to 3.3% from 2.5% in the year to March 2012.
Queensland’s two major tourist hotspots have comparatively languishing residential rental vacancy rates.
On Noosa’s coast, residential vacancy rates have jumped from 4% in March 2011 to 4.8% this year while on the Gold Coast rates have increased from 3.6% last year to 3.9% in March 2012.
 
 
 
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Tight Queensland rental market a result of natural disasters: REIQ

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<img src="/images/stories/5point7percent.gif">
The median rental yield for houses in Darwin, according to RP Data-Rismark.
 
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<img src="/images/stories/5point3percent.gif">
 
The median rental yield for houses in Hobart, according to RP Data-Rismark.
 
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<img src="/images/stories/4point8percent.gif">
The median rental yield for houses in Canberra, according to RP Data-Rismark.
 
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<img src="/images/stories/4point7percent.gif">
The median rental yield for houses in Brisbane, according to RP Data-Rismark.
<hr>
 
<img src="/images/stories/4point3percent.gif">
 
The median rental yield for houses in Perth, according to RP Data-Rismark.
 
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<img src="/images/stories/4point3percent.gif">
 
The median rental yield for houses in Adelaide, according to RP Data-Rismark.
 
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<img src="/images/stories/4point3percent.gif">
 
The median rental yield for houses in Sydney, according to RP Data-Rismark.
 
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<img src="/images/stories/3point6percent.gif">
The median rental yield for houses in Melbourne, according to RP Data-Rismark.
 
 
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