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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

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A Woolworths-anchored shopping complex in South Australia's Playford has sold for $21.81 million to a local private investor.
The deal on the convenience-based shopping centre at 297 Peachey Road, Munno Para, in Adelaide’s north, was brokered by Savills Australia’s Rino Carpinelli and Steven Lerche.
They anticipated strong interest from investors after limited neighbourhood retail opportunities came to market last year.
Mr Carpinelli said, “occupying 2.032 hectares and generating about $1,613,400 per annum, the successful buyer recognised the ongoing value of this asset.” 
“The centre offers significant depreciation benefits backed by a secure income stream and long weighted average lease expiry of 9.12 years by area.”
The centre presents a gross lettable area of 6,390 sqm comprising the full-line Woolworths supermarket and associated BWS liquor store, which are operating under a new 12-year lease.
There is also a mix of 17 speciality tenants, including a Smokemart, newsagency, café, medical centre and Terry White Pharmacy.
Mr Lerche said shopping centres like Woolworths Playford were rarely traded in South Australia.
Woolworths Playford is part of the $1billion urban development project, Playford Alive, which is being jointly managed by the City of Playford council and state government.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Savills sell Woolworths anchored Playford shopping complex to local SA investor

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EXPERT OBSERVER
Adelaide is the standout market in capital city Australia. Its consistency of sales performance is remarkable and two-thirds of its suburbs have had price growth in the past year, led by double-digit rises in top-end markets.
Adelaide is undoubtedly Australia’s most under-rated market. I have often lauded Canberra as the most consistent of the capital cities but Adelaide is a serious challenger. It keeps delivering good sales activity and above-average results on house prices in specific markets.
In the five years Hotspotting has been conducting quarterly surveys of sales activity and price trends, Adelaide has never delivered a poor result. Most cities have had peaks and/or troughs in that time, but Adelaide just keeps on producing steady markets with consistent demand. 
65% of Adelaide suburbs have experienced growth in their median house prices in the past 12 months, many of them with rises above 5%. 
The list of suburbs with growth above 10% is dominated by top-end locations, a positive sign for the market overall, which we believe is poised for a significant growth phase.
Our Spring survey has identified 61 Adelaide suburbs with rising sales momentum. Over the past two years, the number of growth suburbs quarter-by-quarter has been 45, 58, 61, 71, 60, 62, 64 and 61.
Adelaide continues to rank well ahead of Sydney, Melbourne and Brisbane in terms of the number of growth suburbs – and ahead of most state regional jurisdictions (where many of the strong growth markets are found at present).
There are 11 Local Government Areas across the metropolitan area with three or more suburbs with upwardly-mobile markets.
The Marion LGA, a middle-market area in the south-west of Adelaide which has been a market leader for the past 18 months, is once again a standout market – indeed one that ranks nationally. It has nine suburbs with rising sales patterns, including Ascot Park, Glengowrie, Hallett Cove, Marion, O’Halloran Hill, Sheidow Park and Seacombe Gardens. 
Port Adelaide Enfield, another precinct that regularly features, also has nine growth suburbs including Croydon Park, Clearview, Dernancourt, Ferryden Park, Greenacres, North Haven and Rosewater.
The Charles Sturt LGA, which extends north-west from central Adelaide out to the beach areas, is close behind with seven rising suburbs. 
Eight municipalities have between three and five rising markets each: the Burnside, Campbelltown, Holdfast Bay, Mitcham, Onkaparinga, Salisbury, Tea Tree Gully and West Torrens LGAs.
While sources such as CoreLogic and SQM Research report annual growth of only 1-2% in Adelaide house prices, these generalised figures disguise individual areas which have done better. Our suburb-by-suburb analysis shows that 65% of Adelaide suburbs have median house prices higher than a year ago. Of the 123 suburbs which have recorded price growth, 51 have lifted more than 5%.
Only 23 of the 188 suburbs in the Adelaide metropolitan area have recorded falls in their median house prices of more than 5%.
Many of the suburbs with the highest annual growth are towards the upper end of the Adelaide market, headed by North Adelaide (up 35% to $1,165,000), Glenunga (up 21% to $1,185,000) and Unley (up 17% to $1,075,000). 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Adelaide the best performing capital for real estate growth suburbs: Hotspotting's Terry Ryder

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GUEST OBSERVATION
The bipartisan parliamentary vote to transform the A$3.9 billion Building Australia Fund into a pot of cash to drought-proof Australia, the <a href="https://www.farmonline.com.au/story/6287475/future-drought-fund-to-pass-final-hurdle-in-parliament/" target="_blank">Future Drought Fund</a>, should not be taken as universal endorsement.
Labor opposed the idea before caving in, saying it did not “<a href="https://www.canberratimes.com.au/story/6288761/drought-proofing-fund-to-pass-parliament/?cs=14231" target="_blank">want to be painted as a party that opposes support for farmers</a>”.
Rather, it simply shows that Australian politicians coalesce on some things: few miss the opportunity to be photographed with an affectionate child, and even fewer are willing to be critical of public funds being handed to drought-stricken farmers.
But support for something (or feeling too scared not to oppose something), doesn’t necessarily make it the right policy.
Australian governments have sought to drought-proof parts of inland Australia through publicly funded irrigation schemes for much of the past century.
Whenever dryland farmers experienced drought, they were viewed as having experienced a natural disaster, even though the variability of dryland rains was well understood.
Then, from the 1960s, things changed.
First there was a growing realisation that public monies spent on irrigation were not the best means of dealing with a variable climate.
We’ve moved away from thinking about drought as disaster
Second, governments started to describe drought differently, culminating in a 1992 National Drought Policy that required farmers to be more self-reliant and absorb the impacts of drought as something to be expected.
The decades that followed continued this trend with all states and the Commonwealth agreeing on national principles in 2013. Concessional loans and a farm management deposit scheme with taxation advantages were available to help farmers, but would only be useful to those that were viable in the long term.
A <a href="https://www.humanservices.gov.au/individuals/services/centrelink/farm-household-allowance/how-much-you-can-get" target="_blank">Farm Household Allowance</a>, set at the level of Newstart and available for up to four years in return for setting out a plan to improve the farmer’s financial circumstances, was also introduced in 2015 and refined in 2018.
Part of the thinking was that climate change is expected to make droughts more common and severe, although there are good reasons for encouraging adaptation to the existing climate in any case.
However, getting the balance right between “supporting” farm businesses and encouraging them to adapt and be self-reliant isn’t straightforward, especially when the climate and political cycles coincide.
It’s hard to imagine politicians being fiscally prudent when they know they have access to a drought slush fund and are heading into an election during a drying phase.
So, what’s wrong with the new drought fund?
First, there is mounting evidence that farm businesses can actually benefit from drought in the longer term. This seems to occur because businesses that go through a drought develop coping strategies that when invoked in good years produce much greater profits.
That is not to say that droughts are financially a good thing – but it does mean that shielding farm businesses from drought runs the risk that they will not adapt.
Second, an obsession with drought undoes much of the good work done in reclassifying it as something to be expected rather than a natural disaster. Nearly all of the natural disaster payments made in the decade leading up to 2012-13 – one of the driest on record – were spent on rebuilding after floods and storms rather than droughts.
Third, while repurposing the Building Australia Fund as the Future Drought Fund is designed to appeal to rural and regional voters, it is unlikely to help them. Agriculture simply does not generate the jobs that it once did and public pronouncements about drought-proofing will not change the underlying economics of farm businesses and regional communities.
Farming is generally helped by scale, and that means bigger farms with bigger machines displacing smaller farms. The upshot is fewer jobs and the shutdown of small towns, allowing only the larger regional centres to survive. Finding ways to manage this social phenomenon should be the priority rather than shielding farms from drought.
But it’s hard to be optimistic. Politicians love handing cheques to farmers as much as they love photographs with adoring children.<img src="https://counter.theconversation.com/content/121744/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Lin Crase, Professor of Economics and Head of School, University of South Australia.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/just-because-both-sides-support-drought-relief-doesnt-mean-its-right-121744" target="_blank">original article</a>.
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Just because both sides support drought relief, doesn’t mean it’s right: Lin Crase

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Humanity Place, the home of Australian Red Cross in the Park Road dining precinct in Milton, is set to come onto the market for the first time in 15 years.
Red Cross, who have owned and occupied the building since 2004, have appointed Colliers International’s in conjunction with Knight Frank, to run a national campaign closing late November.
Partner Developments’ Matthew Berg is appointed as transaction manager.
The three-level freehold property is located on a 1,902 square metre site at 49-57 Park Road in Milton, 1.2 kilometres from Brisbane CBD.
Agents expect the three-level office building to draw national interest from developers, owner occupiers and value add investors.
They say it is one of Brisbane’s best value-add buildings in the city fringe, offering holding income from Red Cross on flexible lease back terms, prime corporate exposure with potential signage income, a 1:46 square metre car parking ratio with a total of 57 basement car parking bays, as well as the mixed-use zoning with significant development upside allowing up to eight storeys (STCA).
After owning the asset for nearly 15 years, Red Cross has determined it is time to put the asset on the market with a view to redistributing funds back into the organisation to further enhance its ongoing service to the community.
“Red Cross will reinvest the funds to move to premises in Brisbane’s CBD or CBD fringe that are both more affordable to own or lease, and better suited to the needs of the people we work with,” Red Cross CEO Judy Slatyer said. 
“As community needs change, the need to operate from a particular premises changes. The sale is part of a national property masterplan that releases value from several key properties and allows us to work in locations that best serve the people who use them, from clients and volunteers to staff and partners.”
According to Colliers International research, strong tenant demand in the Milton office precinct over the first half of 2019 has resulted in record net absorption of 19,848 square metres, driving the vacancy rate down to 17.5% from a historical high of 27.9% in September 2018.
It suggests Milton is going through a major regentrification and urban renewal including the new Railway Terrace retail precinct.
There have been the recent on-market sales of fully-leased and refurbished assets at 16 Marie Street for $25.5 million and 8 Gardner Close for $25.23 million.
Milton has access to various forms of public transport, direct access to bicentennial bikeway and connectivity to north and south of the Brisbane River.
The complex features a 4.0 Stars NABERS Rating.
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Red Cross office building in Milton, Brisbane on the market

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Investa Commercial Property Fund, one of Australia’s leading unlisted wholesale office funds, is seeking to raise new equity via a capital raising drive.
According to the fund, they plan to use the new capital to replenish their balance sheet, positioning the fund for future acquisition and development opportunities.
The fund’s existing investors will be given pre-emptive rights to purchase the new securities issued.
They predominantly include a mix of Australian institutions and superannuation funds.
“It is our expectation that existing investors will participate in the offer and any securities not taken up by existing investors will be made available to new investors, where we have strong demand,” said Jason Leong, the ICPF Fund Manager.
Leong further states that institutional investors have been waiting for this opportunity, with interest from potential investors from Asia, the UK, Europe and North America to date.
“Potential investors come from a range of areas including insurance companies, pensions and sovereign wealth funds,” he said.
ICPF’s portfolio currently comprises interest in 15 office buildings, primarily located in Sydney and Melbourne, valued at $5.6 billion.
ICPF recently reached practical completion on the premium grade 60 Martin Place Sydney, achieving record rentals with leasing commitments in excess of 90% delivering the project a 7.5% yield on cost.
It is also planning to commence construction of 360 Queen Street, Brisbane, a 55,000 square metre prime grade commercial office project in 2020.
ICPF has been active recently, selling its interest in 242 Exhibition Street, Melbourne for $830 million, along with its co-owner Oxford Investa Property Partnership (OIPP) at a 20% premium to valuation.
It also recently struck an agreement to acquire a further 50% interest in a central Sydney office building, 135 King Street, from co-owners Stockland for A$335 million and a 1,000 bay cark park adjoining its 567 Collins St Melbourne building.
 “The ICPF management team has been disciplined in its investment execution, divesting assets no longer aligned with its strategy and focussing on building a pipeline to develop new generation buildings,” said Investa’s Chief Investment Officer, Peter Menegazzo.
 “We expect that these factors will result in solid support for the capital raising, and in turn, will set a sound foundation to deliver ongoing investment performance.”
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Investa embarks on capital raising drive

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A $13 million luxury development at Circular Quay has been planned, with Queensland-based company rawGROUP Hospitality aiming to break into the Sydney market.
rawGROUP Hospitality Director Adrian Rosato said the company had signed a lease for a 662 square metre site in the luxury residential and retail development, Opera Residences at Bennelong Point.
The project will replicate the business’s Madame Wu riverfront restaurant in Brisbane.
“With the fit out included, we are planning for the total investment in this project to be around $13 million,” he said. 
“Madame Wu Sydney will stretch across two levels, offering diners extraordinary views of one of the world’s most iconic settings, and will be located inside the luxury development that has been reported as having Australia’s most expensive apartments.” 
rawGROUP Hospitality also owns Chu the Phat Asian street food diner in South Brisbane, a chain of casual Beach Bar and Grill restaurants across south east Queensland, and an Italian eatery at Chermside in Brisbane’s northern suburbs.
The company opened Madame Wu Brisbane, on Eagle Street, in 2014.
Sydney-based designer Paul Papadopolous of DS17, who designed the Brisbane complex, will also be applying his flare to the Sydney site.
He described the project as ‘glamorous, contemporary and eclectic’. 
Madame Wu Sydney is expected to open before Christmas 2020.
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Queensland's Madame Wu restaurant chain coming to new development at Circular Quay

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EXPERT OBSERVER
The performance of the housing market can vary dramatically from region to region, but also across the different product types and value ranges. 
Splitting the market into quartiles can provide a better understanding of which sectors are firing and which ones are lagging.
In Sydney and Melbourne its clearly the prestige end of the market that is driving the strongest capital gains, with values up 4.2% and 4.6% over the September quarter across the top quartile of the market.
This was also the sector that recorded the largest decline during the down phase, with Sydney’s top quartile properties remaining 13.6% below their previous peak while Melbourne’s top quartile properties are still 11.9% below their peak.
<img src="https://www.urban.com.au/images/2019/10/4/Lawless%20dwelling%20values%201.JPG" alt="">
Brisbane is showing stronger growth conditions across the middle to lower valued properties where values are 0.8% and 0.7% higher over the quarter.
During the downturn the middle to lower priced segments of the market were also more resilient to falls than the top end.
Similarly, Adelaide is showing better resilience to falling values across the more affordable end of the market while the top quartile records the largest declines over both the quarter (down 1.2%) and cumulatively (down 3.5% since peaking). The opposite is true in Perth were the high end of the market has been a little more resilient to falling values.
While each of the broad valuation cohorts has recorded a sustained drop in values, the reduction has been less severe across Perth’s top quartile where values are down 16.5% since peaking compared with a 27.8% decline across the lower quartile.
Hobart has been one of the strongest markets over the past few years, however with affordability constraints becoming more pressing, the lower quartile properties are showing a better performance relative to more expensive properties.
The lower quartile saw a 1.4% rise in housing values over the September quarter after posting a smaller loss relative to the top quartile.
<img src="https://www.urban.com.au/images/2019/10/4/Lawless%20dwelling%20values%202.JPG" alt="">
Darwin’s housing market has been doing it tough since 2014, however the September quarter has seen the lower and middle quartiles actually record a subtle increase in housing values while the upper quartile continues to record heavy loss.
All three of the broad valuation cohorts have recorded material declines in values since peaking, demonstrating the broad based declines across Darwin's housing market.
Canberra’s upper quartile housing is the only broad housing segment across the capital cities where values were at a record high at the end of the September quarter.
Values are rising across all three of the broad market segments, however it’s the top quartile where growth is strongest.
The different performances of the housing market across broad valuation groups highlights how diverse conditions can be below the surface.
Factors such as housing affordability, lending policies, market cycles and local economic and demographic conditions can have a significant baring on market activity
TIM LAWLESS is the CoreLogic head of research
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Expensive properties are driving the market rebound: Tim Lawless

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CBRE has identified a 48% uplift in enquiry for Sydney apartment block sales in the past year.  
The asset class now receiving twenty percent more enquiry than office, development sites or retail investment asset classes, with CBRE fielding 26,000 enquiries for apartment block properties in the past year, including 3,500 in the last month.  
This comes as CBRE’s Metropolitan Investments team of Nicolas Heaton, Gemma Isgro, Nick Wheatley, Toby Silk, Paul Grasso, Jason Lowry, Matthew Fenn and Aaron Arias prepare to launch six apartment block assets to market within the next month, totalling 83 units with an estimated combined value over $50 million and an average yield of 4.5%. 
The apartment blocks to be offered for sale individually are:
<table border="0"><tbody>
<tr>
<td>Address</td>
<td>Number of apartments</td>
</tr>
<tr>
<td>111 &amp; 113 Edgecliff Road, Woollahra (pictured above)</td>
<td>24</td>
</tr>
<tr>
<td>50 &amp; 52 Warren Road, Marrickville (pictured below)</td>
<td>19</td>
</tr>
<tr>
<td>3 Mulwarree Road, Randwick</td>
<td>8</td>
</tr>
<tr>
<td>27-29 Macpherson Street, Waverley</td>
<td>6</td>
</tr>
<tr>
<td>21 Cooper Street, Paddington</td>
<td>5</td>
</tr>
<tr>
<td>2 Sutherland Street, Cremorne</td>
<td>21</td>
</tr>
</tbody></table>
<img src="https://www.urban.com.au/images/2019/9/18/50%20%2052%20Warren%20Road%20Marrickville.JPG" alt="">
Heaton said apartment block investments offer buyers a far greater yield than the return offered by banks or bonds, with far less risk.
"The icing on the cake is the ability to strata and sell down or totally redevelop in the future, driving higher returns over the life of the investment.”  
Gemma Isgro, noted apartment block buyers are looking to purchase an investment vehicle with an initial return of around 3-4%.
"These investments also provide a land bank for future redevelopment, potentially seeing strong total returns of around 10%,” Isgro said.
While apartment blocks are traded regularly, CBRE is the first and only real estate agency to create a specialised team focusing on this asset class.  
“Previously vendors turned to their managing agent to sell apartment block assets but with the creation of the CBRE Apartment Block team five years ago we are uniquely positioned to offer vendors a broader reach of buyers locally, interstate and offshore,” Heaton noted. 
Recent CBRE managed apartment block sales have bucked the trend of low buyer activity in the traditional residential apartment market, including:
<table border="0"><tbody>
<tr>
<td>Month</td>
<td>Address</td>
<td>Number of enquiries generated</td>
<td>Sale price</td>
<td>Gross yield</td>
</tr>
<tr>
<td>
September 2019
</td>
<td>20 Alexandra Street, Glebe (pictured below)</td>
<td>660</td>
<td>$5.25m</td>
<td>3.1%</td>
</tr>
<tr>
<td>August 2019</td>
<td>10 Henrietta Street, Waverley</td>
<td>460</td>
<td>$20m</td>
<td>3.1%</td>
</tr>
</tbody></table>
 <img src="https://www.urban.com.au/images/2019/9/18/20%20Alexandra%20Street%20Glebe.JPG" alt="">
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Whole apartment block enquiries soar as $50 million portfolio hits the market

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Government, co-workers, and other flexible office space providers, are driving the Inner Brisbane office leasing market, according to independent valuer m3property’s latest report.
The Inner Brisbane Office: September 2019 report also found the continued expansion of flexible office space providers had been a key contributor to the declining vacancy rate over the past 18 months.
It found that while vacancy would increase to circa 13.5% by the end of 2019, on the back of the completion of 300 George Street, it would continue to trend downwards to be circa 11% to 11.5% by the end of 2021.
Report author, m3property’s Director of Research in Brisbane, Casey Robinson, said lease renewals had more than doubled as a proportion of total leases, from 13% in 2017 to 30% in 2019.
"We have seen leasing activity strengthen over the past year and that has been driven by governments, the continued expansion of the co-working and flexible office space sector, and construction and engineering firms involved in major projects, as well as general growth in white collar employing industries," Robinson said.
The report forecast effective rents to continue to nudge upwards over the short-term while incentives, now entrenched in the Brisbane office market, are expected to trend downwards over the medium- to long-term, stabilising around the 25% mark.
Commercial Director at m3property, Michael Coverdale, said weaker business confidence and cost/business efficiencies were also behind a trend to reduce footprints with a number of corporates including Arrow Energy, Shell, Cardno and Insurance Group Australia downsizing at lease renewal.
"The growth in flexible working space options, which is providing organisations with the ability to expand and contract space requirements as required, is another important factor," Mr Coverdale added.
He said there was also evidence to show reducing footprints had driven tenants to seek newer buildings especially those that offered more flexible work spaces.
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Government and co-workers drive Brisbane leasing market, according to report 

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The Ascott Limited, a Singapore-based subsidiary of CapitaLand, is investing $202 million in a freehold serviced residence in the Central Business District of North Sydney, through a global fund with Qatar Investment Authority (QIA).
The residence is part of a 48-storey integrated development which also has office and retail components.
The complex will be named Citadines Walker North Sydney.
It will be the tallest tower in North Sydney upon its completion in 2021. 
The Singapore-based company further announced the acquisition and the signing of 13 other properties under franchise and management contracts at the grand opening of La Clef Champs-Élysées Paris in France.
These 14 new properties offer more than 2,200 units.
"This latest acquisition in Australia is in line with our strategy of growing our fund management portfolio through private equity funds, joint ventures and listed hospitality trusts – all of which provide a core asset base for our asset management business,’ said Ascott’s Chief Executive Officer, Kevin Goh.
With this latest acquisition in Australia, as well as the signing of 13 management and franchise contracts across China, France, Indonesia, Kenya and Vietnam, Ascott has achieved a purported $10 billion in asset value.
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