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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 Fullerton Hotel Sydney, located at No. 1 Martin Place within Sydney’s historic GPO building, officially opened earlier this month. 
The 416-room hotel was developed by the Fullerton Hotels and Resorts group, who also own The Fullerton Hotel Singapore, and The Fullerton Bay Hotel Singapore.
"We are excited to open The Fullerton Hotel Sydney in a landmark building that is steeped in character and history," said Cavaliere Giovanni Viterale, general manager of The Fullerton Hotels and Resorts.
"It is our aim to provide hotel guests and visitors with heartfelt hospitality and memorable experiences, all while showcasing the beauty and heritage of the former Sydney GPO building to a wider audience both nationally and globally," he said."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/28/fullerton%203.jpg" alt="">
In an attempt to rejuvenate the historic buildings façade, an expert team with combined stonemasonry experience of 334 years, undertook a 38,000-hour chemical-free cleaning process to restore the building's facade to its former glory. 
"We are committed to conserving the Sydney GPO building for the enjoyment of generations to come; and the heritage façade remediation programme is just the first step in a multi-phase revitalisation programme to be continued following the opening," concluded Cavaliere Giovanni Viterale. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/28/fullerton%202.jpg" alt="">
As of November 1, the building's vibrant history, dating back to 1874, will be on show through complementary heritage tours.
</body></html>

wdavis-8cCN98p7xp

The Fullerton Hotel Sydney opens at No.1 Martin Place

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The Grosvenor, a premium 2010 built office and retail block in the heart of Woollahra has been listed for sale. 
The three level commercial premises at <a href="https://www.realcommercial.com.au/for-sale/property-156-edgecliff-road-woollahra-nsw-2025-503375158" target="_blank">156 Edgecliff Road</a> is being offered fully leased returning around $1.06 million per annum.
Real estate agency Phillips Pantzer Donnelley anchor the building, operating from from three of the office spaces. 
Law firm Back Schwartz Vaughan have an office, as do stroller store Bugaboo Australia.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/156%20Edgecliff%20Road%20Woollahra%202.jpg" alt="">
The ground level retail is taken by Sonoma Cafe and clothing boutique Marshmellow. 
There are seven tenancies across the 1,125 sqm net lettable area, as well as basement parking for 25 cars on the 890 sqm site.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/156%20Edgecliff%20Road%20Woollahra%203.jpg" alt="">
The block is only nine years old, constructed by Built to a design by Tzannes Architects.
The property is being marketed by Colliers agents Tom Barnier and Matt Pontey, in conjunction with Felix Liv at SQM Commercial.
It last traded for $16,970,000 in 2016. 
 
 
 
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jrobinson-rf4aSBido9

Woollahra commercial trophy The Grosvenor, home to Phillips Pantzer Donnelley, listed for sale

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The Oasis, Broadbeach, one of South East Queensland's biggest mixed-use buildings, has been listed.
The 1989 built property features 24,399 square metres of net lettable area.
It underwent substantial renovations in late 2018.
The three-level centre features 16,909 square metres of food and beverage-based retail, 7,490 square metres of commercial space, and 998 car spaces.
The property has been listed by JLL in conjunction with McVay Real Estate.
They noted the area was experiencing a significant wave of residential apartment development with nine projects totalling 1,288 apartments either approved or under construction.
Offers close November 7.
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The Oasis, Broadbeach listed for sale

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A Woolworths supermarket in Leongatha topped the results board at CBRE’s 10th Premium Property Portfolio Auction (PPPA).
A total of four properties sold for a total of $32.7 million on an average 5.4 per cent yield.
The freestanding, 3143 square metre (GLA) Leongatha store was sold for $14.3 million on a 5.32 per cent yield to a Melbourne based investor with nine years of a 20 year lease to Woolworths remaining at a current income of $761,000 per annum net.
The tightest yield of the night went to the Woolworths Metro Abbotsford property which sold off-the-plan to a South Australian investor for $4.68 million on a yield of 4.93 per cent.
A third property, an ALDI store and two shops at Seville, sold to an international investor for $8.02 million on a 5.98 per cent yield, and a fourth property – a 7-Eleven at Armstrong Creek- sold to a second Melbourne based investor for $5.72 million on a 5.4 per cent yield.
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Leongatha Woolies tops $33 million CBRE supermarket auction

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EXPERT OBSERVER 
In last week’s note we opined that the Effective Lower Bound (ELB) for the RBA’s cash rate is 0.5% which we expected to be reached in February next year.
After that point we argued that the RBA would assess that the benefits to the currency and household cash flows from further cuts were likely to be offset by unintended consequences such as a negative impact on confidence of very low rates, financial instability, and a lowering of inflationary expectations as agents associated ultra-low rates with falling inflation.
We pointed out that our forecasts indicate that by that time, it seemed unlikely that the RBA would be satisfied that the economy was moving towards full employment, its potential growth rate, and inflation within the 2–3% band.
The RBA would also be concerned that with inflation still stuck below 2% and acknowledging that no further monetary policy action would be forthcoming, this would also encourage falling inflationary expectations as agents would sense that the RBA had run out of options.
Another risk in these circumstances might be that traders would also choose to bid up the AUD in the context of a dormant central bank.
Such a time might be appropriate for the Bank to consider unconventional monetary policies.
The Governor has publicly dismissed negative interest rates as an option but has indicated that, were the RBA to embark on a course of unconventional monetary policy, an asset purchase program would be the most likely policy option.
These programs have been used in other jurisdictions over the period 2008 to 2017.
Between 2008 and 2012 the programs were aimed at addressing disruptions in liquidity in the financial markets. They covered intervention in public sector bonds, commercial paper, agency debt, agency Mortgage Backed Securities, corporate bonds, and bank covered bonds.
From that point on, programs were aimed explicitly at monetary accommodation (with the Fed’s 2019 purchase plan to address overnight funding market issues).
In Australia’s current circumstances, given that Australian banks are flush with liquidity, any action from the RBA would be directed at monetary accommodation.
Read the full report: <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/October/er20191025BullQEStrategy.pdf" target="_blank">'RBA options for QE Strategy' (PDF 144kb)</a>
BILL EVANS is the Chief Economist at Westpac
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Options for effective Quantitative Easing strategy for the RBA: Bill Evans

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The latest release of apartments in Brisbane’s tallest tower development is now seeking buyers.
The Horizon Collection, in the CBD's 90-storey Brisbane Skytower, consists of 43 two and three-bedroom luxury residences and four penthouse apartments on the nine uppermost levels of the building, from floors 82 to 90.
The residential tower was developed by Billbergia and AMP Capital at 222 Margaret Street, and was completed more than two years ago.
The complex is Brisbane’s tallest building, and the sixth tallest in Australia, at a height of 270 metres.
As well as the Souther Hemisphere's tallest infinity pool, residents in The Horizon Collection apartments will have access to private entertainment spaces and a gym, as well as lifestyle services provided by The Westin Hotel.
Murray Wood, Knight Frank Partner, Residential Project Marketing Australia, said enquiries for the residences were coming from a wide audience, however owner-occupiers were expected to be the primary buyers for The Horizon Collection apartment release.
“Demand for prestige property is particularly strong at the moment, with the top end of the market leading the national recovery in the housing market,” Wood said.
Residences are expected to be priced between $1.2 million and $7.9 million, with a collective value of around $115 million.
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Top floor apartments released in Skytower Brisbane's tallest building

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Crowds stretching for 1.4 kilometres lined up for the opening of Broadway Sydney’s new LEGO Store earlier this month.
Broadway Sydney Centre Manager Justine Saltmarsh said it was a very successful launch unveiling a Broadway mosaic, hand-built from 51,769 individual bricks and a bespoke Broadway 3D model, hand-made from 28,179 bricks.
It was so popular, traffic for the centre was up 20%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/16/Mirvac-Broadway-LEGO-opening-191012-PaulMcMillan-34.jpg" alt="">
“We can’t wait to see the creativity unlocked on level 2, this is truly a wonderful new experience to add to Broadway’s status as a much loved destination,” Saltmarsh said.
She said the Level 2 environment with its eclectic mix of dining, fashion and highlighted art installations made a perfect environment to the Lego Store.
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Lego store opens in Broadway Sydney

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EXPERT OBSERVER
Have you ever wondered what it takes to own a property in the top two percent of the market?
Nationally, you’ve made it into the 98th percentile if you own a house worth at least $2.16 million (roughly $1.6 million above the national median house value) or a unit worth $1.43 million (about $930k higher than the national median unit value) or higher.
Although the national entry point to the top 2% club looks extremely high for most of us, the national figure is skewed higher by Sydney and Melbourne where housing values are much higher.
A 98th percentile house would set you back at least $3.21 million in Sydney ($2.3 million above the median) and $2.53 million in Melbourne ($1.8 million above the median), while in more affordable areas such as regional South Australia, the top 2% of the market is a much lower $553,790.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%201.JPG" alt="">
Darwin is the only capital city where the 98th percentile for a house is less than $1 million, at $878,100, while across the regional areas of each state, every area apart from Regional NSW and Regional Qld, shows a 98th percentile lower than $1 million.
The top two percent of the market is lower for units, with every capital city except Sydney and Melbourne showing a 98th percentile below $1 million.
Sydney’s 98th percentile unit value was $1.88 million in September ($1.17 million above the median) and Melbourne’s 98th percentile unit value was $1.20 million ($651k above the median).
But what if being a national or city wide two percenter isn’t quite enough? Across New South Wales the municipality with the highest 98th percentile is Woollahra at $8.16 million, followed by Mosman ($7.79 million) and North Sydney ($6.04 million). Outside of Sydney, the Byron Shire has the highest 98th percentile house value at $1.8 million.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%202.JPG" alt="">
In Victoria, the Stonnington council has the most exclusive 2% of houses with a 98th percentile of $6.88 million, followed by Melbourne ($3.94 million) then Boroondara ($3.90 million). Across the regional parts of the state, the Surf Coast has the highest 98th percentile value at $1.33 million.
In Queensland, the highest 98th percentile house value can be found at Noosa on the Sunshine Coast, tracking at $1.87 million in September, followed by Brisbane ($1.52 million) and Gold Coast ($1.33 million). Outside of South East Queensland, the highest 98th percentile house value can be found at Douglas (north of Cairns) at $9.43 million.
South Australia’s Burnside council shows the highest 98th percentile at $1.66 million, with Unley ($1.66 million) and Walkerville ($1.55 million) taking up the second and third positions. Across the regional areas of the state the council of Yankalilla tops the 98th percentile at $708k.
Western Australia’s most expensive municipalities all show a 98th percentile for houses above $3 million, led by Peppermint Grove at $3.82 million and followed by Cottesloe ($3.35 million) and Nedlands ($3.11 million). Although housing values have dropped by more than 20% across Perth, these three areas remain in the national top 20 for the highest 98th percentile house value.
Outside of Perth, the highest 98th percentiles are at Busselton as well as Augusta-Margaret River, both at $1.4 million.
Across Tasmania, the only municipality with a 98th percentile house value over $1 million is Hobart, at $1.25 million. Kingborough ($874k) and Clarence ($816k) round out the top 3.
Outside of Hobart, the Huon Valley council area tops the 98th percentile at $667k. Across the Northern Territory, Alice Springs tops the 98th percentile rankings at $961k, followed by Darwin at $953k.
TIM LAWLESS is the CoreLogic Head of Research
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The cost to own a property in the top 2% of the market: Tim Lawless

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EXPERT OBSERVER
<div>Market mispricing?</div>
<div> </div>
<div>If you'll kindly indulge a Tuesday night blog post after an evening talking, um, Australian monetary policy at the Clock Hotel (n.b. soft drinks only!), then herewith it follows. </div>
<div> </div>
<div>One week ago the October 2019 RBA Minutes were released, and they stated that, if needed, policy would be eased further to achieve full employment and the inflation target. 
</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-DRBZQLy3u2w/Xa7Rmuaj5lI/AAAAAAAAyb0/9eymjiILxfw9dfOchYSpgYfk1z-bP_JdgCNcBGAsYHQ/s1600/RBA4.jpg"><img src="https://1.bp.blogspot.com/-DRBZQLy3u2w/Xa7Rmuaj5lI/AAAAAAAAyb0/9eymjiILxfw9dfOchYSpgYfk1z-bP_JdgCNcBGAsYHQ/s640/RBA4.jpg" width="640" height="202" data-original-height="263" data-original-width="831"></a></div>
<div> </div>
<div>Source: RBA</div>
<div> </div>
<div>Then on October 18 the RBA Governor delivered a designedly upbeat speech to the IMF in Washington, which justifiably highlighted Australia's record unbroken stretch of economic growth among other Antipodean successes (including the floating currency, which often - though not always - moves in harmony with commodity prices). </div>
<div> </div>
<div>I didn't listen to the audio live, but while we don't need to link to all of the media pieces, across the board we saw a rash of articles suggesting that the RBA is done with cutting and has hosed down the prospect of further cuts. A bit odd, it seemed. 
</div>
<div class="separator"><a href="https://1.bp.blogspot.com/-yOb6CoNIbAM/Xa7QjD8vWaI/AAAAAAAAybg/bQhRxx6datcUorhTVySG840RkCNgvS_ZACEwYBhgL/s1600/rba.jpg"><img src="https://1.bp.blogspot.com/-yOb6CoNIbAM/Xa7QjD8vWaI/AAAAAAAAybg/bQhRxx6datcUorhTVySG840RkCNgvS_ZACEwYBhgL/s640/rba.jpg" width="640" height="594" data-original-height="687" data-original-width="738"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div>I'll come back to this point, but I broke one of my own golden rules here: at the risk of sounding like an episode of Yes, Prime Minister, always listen to what was actually said, not what was said about what was being said!</div>
<div> </div>
<div>Inflation smoked</div>
<div> </div>
<div>The latest employment figures were <a href="https://petewargent.blogspot.com/2019/10/the-gentlest-of-turning-points" target="_blank">modestly positive</a>, but the leading indicators are weakening and there was no indication that labour force slack will be reduced significantly, or that full employment will be on the horizon any time soon. </div>
<div> </div>
<div>Unemployment was still uppish at 5.2 per cent, and the underemployment rate remained <a href="https://petewargent.blogspot.com/2019/10/the-gentlest-of-turning-points" target="_blank">way high at 8.3 per cent</a>. </div>
<div> </div>
<div>Looking towards next Wednesday's inflation figures for the September quarter, it's hard to see where any inflationary pressures at all are going to come from, except for - yet again - smokes. </div>
<div> </div>
<div>There may well be some food price inflation due to the drought (which itself drags further on economic growth), but rental price growth will be at or close to record lows, and there may be some other offsetting factors. 
</div>
<div> </div>
<div>Crunching through the numbers, with a hat tip to the ever-brilliant Justin Smirk at Westpac, spits out trimmed mean inflation of, say, 0.3 per cent, and the weighted median may well be even lower still.</div>
<div> </div>
<div>So that gets you to annual core inflation of about 1½ per cent for trimmed mean, and just 1.2 per cent for the weighted median, which is so far below the mandated target you could drive a truck through the gap (or an attractively priced new SUV the way new car sales have been tracking!). </div>
<div> </div>
<div>If all of this proves to be the case - and, by the way, the mid-point of the inflation target is 2½ per cent - why wouldn't the RBA be cutting with bells on?</div>
<div> </div>
<div>Financial markets have effectively priced out a November cut - and almost any further cuts at all - as far as I can tell because some people said that's what the Governor said...but is that what was said?</div>
<div> </div>
<div>What's the French word for nuance?</div>
<div> </div>
<div>To recap briefly, we have a 'no' to full employment, and a resounding 'no' for being close to achieving the inflation target, which market expectations see as a distant dream. </div>
<div> </div>
<div>Now let's go back to the IMF speech, and more specifically the very brief Q&amp;A segment.</div>
<div> </div>
<div>And then to a question from the floor! Question: has the RBA got 'a lot of work to do' in terms of delivering monetary easing (the cash rate is at 0.75 per cent), and should we assume negative rates or other unorthodox policies?</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-clR0lulvZts/Xa7QjR6iU9I/AAAAAAAAybk/Gr6cNLxerWop15HuL3ZX5MUE0_VVFXOOQCNcBGAsYHQ/s1600/rba2.jpg"><img src="https://1.bp.blogspot.com/-clR0lulvZts/Xa7QjR6iU9I/AAAAAAAAybk/Gr6cNLxerWop15HuL3ZX5MUE0_VVFXOOQCNcBGAsYHQ/s640/rba2.jpg" width="640" height="314" data-original-height="548" data-original-width="1111"></a></div>
<div>
 Source: RBA
</div>
<div>To my mind, there's only one way that a central bank Governor could've answered that question given the circumstances, and here it is:</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-f-5mD8YZPyQ/Xa7QjEC41XI/AAAAAAAAybc/v_-AtHtN2jUVIO0rjd4o_QVHjJNPYIG5QCNcBGAsYHQ/s1600/rba3.jpg"><img src="https://1.bp.blogspot.com/-f-5mD8YZPyQ/Xa7QjEC41XI/AAAAAAAAybc/v_-AtHtN2jUVIO0rjd4o_QVHjJNPYIG5QCNcBGAsYHQ/s640/rba3.jpg" width="640" height="164" data-original-height="286" data-original-width="1112"></a></div>
 
<div>Source: RBA</div>
 November live 
<div>Now I could be off beam here - it's happened on this blog at least once before! - but this answer, and perhaps some of the remainder of the transcript might have been misinterpreted...and the market pricing may in turn have been led astray. </div>
<div> </div>
<div>No central banker could have reasonably responded 'we have lots more to do' on easing, and the question on negative interest rates was always going to be batted to the fence, which it quite rightly was. </div>
<div> </div>
<div>The consensus view is that there will be no further easing this year, but if inflation is as low as it looks to be - essentially a sin tax on tobacco and a bit of drought-related food price inflation - then the November meeting could be a live one. I've leaned heavily here on the analysis of Sophia Rodrigues of Central Bank Intel (if you're an institution you should subscribe to her forthcoming content), and another prominent markets analyst in Sydney (well, it's the Clock Hotel, you can work it out). </div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. </div>
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Why the November RBA meeting may be live: Pete Wargent

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A community health centre building, in the Cable Beach precinct of Broome, has come onto the market.  
Located at 67 Dakas Street, the property covers 3555 square metres of space.
It currently has a 586 square metre office/medical centre that is leased to the State Government through the Minister for Health.
Knight Frank senior director Tony Delich, who has listed the property, said the holding was currently occupied by Broome’s highly regarded Community Health and Child Health Clinic on a four year lease with options.
He said it provided a strong cash flow in excess of $300,000 per annum with fixed rent reviews.
“This is a great asset with both capital growth potential and the opportunity to further develop the site,” Delich said.
First National’s Allan Griffiths said the existing office improvements were constructed Broome-style, being a steel frame with colorbond custom orb cladding and roof sheeting with a concrete raft floor.
The property will be sold by offers to purchase, closing on November 6, 2019.
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