Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

<html><body>
A site in Mascot has been sold by NGFarah for $17.65 million, their biggest sale of 2018.
NGFarah agent David Lee sold the 571-573 Gardeners Road property.
The Mascot site was a brick two-storey retail office building with rear storage yard and metal fabricated workshop, on 2,789 sqm.
There are no indication of any plans for the site that last sold at $4.4 million in 2011.
It was once Ascot Car Rental.
Recent Mascot site sales have included Raine &amp; Horne Commercial selling 10-12 Sarah Street, some 545 sqm, for $3.64 million.
It sold to Pro-Invest Australian Hospitality Opportunity Pty Limited, which had paid $12 million a month earlier to secure 2-6 Sarah.
Earlier this year 253 Coward, a 4000 sq m located on the corner of Kent Road across from Meriton's new Mascot retail precinct, sold for $24.2 million.
It was bought by interests associated with Daniel Tartak, Mark Tartak, Daniel Girgis and Matthew Abrahamian.
The site was once owned by TNT Australia.
Mascot's biggest sale in 2018 was Meriton's $82 million acquisition of the three hectare site at 265 Coward.
Last month The Daily Telegraph reported Harry Triguboff's company had submitted a proposal for two 14-storey towers at 256 Coward St. Triguboff proposes 305 units with shops.
The developer is trying to squeeze more units into the exisiting approval obtained by the Nassif family.
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jchancellor-FAypfDUnLy

NGFarah secure $17.65 million Mascot site sale

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An A-grade Pyrmont office building has sold for $143 million to AEW.
JLL and Colliers International managed the deal for 19 Harris Street on behalf of a private client of UBS Asset Management, AEW who purchased the property on behalf of its Value Investors Asia fund series.
An international expressions of interest campaign was launched in July 2018 for the seven story building, which garnered interest from local and offshore investors.
“Properties such as 19 Harris will benefit from significant rental growth in this sub-market as leases reach their expiry,”  JLL's James Aroney said.
“The high calibre of tenants, the quality of the asset and the vibrant city fringe location made it an attractive investment opportunity.”
 The building is set to benefit from the redevelopment of the Bays Market District, less than 1km away in Blackwattle Bay, which will add to the area’s retail and social amenity.
Thomson Reuters is the anchor tenant of 19 Harris Street, and L’Oreal Australia is also among the 12 occupants of the fully leased asset.
The building has a net lettable area of 12,568 sqm and campus-style flexible floor plates of around 2000 sqm.
 The deal represents a sale rate per square metre of $11,378 and a passing yield of 4.87 per cent. The weighted average lease expiry (WALE) is five years.
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j.ballantyne1990-6AQqhLzZaK

Pyrmont Office building sold for $143 million

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EXPERT OBSERVER
There are much softer numbers for construction in Q3 2018, feeding into the GDP result. 
<div>Somewhat old news by now, but the value of apartment building work done peaked somewhere between April and June this year, with the pipeline falling away now.</div>
<div> </div>
<div>The value of apartment building work two peaked about two years ago in Queensland, with the unit market in Brisbane now looking much more in equilibrium than it was. </div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-GotiguGC1Bo/W_31-vn5rKI/AAAAAAAAtF8/hBy0ioFkrHYSzLFEzhqinlTTp62OzJxUQCLcBGAs/s1600/A1.jpg"><img src="https://3.bp.blogspot.com/-GotiguGC1Bo/W_31-vn5rKI/AAAAAAAAtF8/hBy0ioFkrHYSzLFEzhqinlTTp62OzJxUQCLcBGAs/s640/A1.jpg" width="640" height="372" data-original-height="804" data-original-width="1378"></a></div>
 
<div>The September quarter also saw a much weaker result for engineering, and this was in spite on the tremendous ongoing strength in infrastructure construction in New South Wales and Victoria. </div>
<div> </div>
<div>The slowdown reflected weaker activity levels in Queensland, South Australia, and Western Australia, as well as dramatic drop off in the Northern Territory as the Ichthys LNG project now transitions to the production phase. </div>
 
<div class="separator"><a href="https://3.bp.blogspot.com/-1t4jAa6gx1E/W_31-9T5rUI/AAAAAAAAtGA/zCEyL4CY9GEPxcYb0SJW5-zHf_5aqVkMQCLcBGAs/s1600/A2.jpg"><img src="https://3.bp.blogspot.com/-1t4jAa6gx1E/W_31-9T5rUI/AAAAAAAAtGA/zCEyL4CY9GEPxcYb0SJW5-zHf_5aqVkMQCLcBGAs/s640/A2.jpg" width="640" height="374" data-original-height="801" data-original-width="1366"></a></div>
<div class="separator"> </div>
<div class="separator">Overall, a weak result across all sectors of construction: new houses, new apartments (ex-Sydney), commercial, and engineering. </div>
<div class="separator"> </div>
<div class="separator">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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Construction is weakening, that means fewer cranes: Pete Wargent

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Savills have secured commitments from three new tenants for an Adelaide co-working space.
RPO Pty Ltd, Improvement (Foundation) Australia Ltd and Fitzpatricks Private Wealth S.A Pty Ltd are to be the latest residents of Level 3, 12 Pirie Street, Adelaide.
They each signed twelve-month lease agreements.
Adam Hartley and Zandra McGee of Savills Office Leasing arranged the three lease terms for spaces ranging between 16 sqm and 82 sqm.
“The companies were attracted to the space because of its “trendy”, spacious and corporate fit-out as well as the convenience that co-working spaces have to offer,” Ms McGee said.
Rates range from $863 per sqm to $1,650 per sqm, and Ms McGee said tenants are happy to pay for the convenience and flexibility that spot co-working offers.
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Savills secure three new tenants for Adelaide co-working space

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George Place, a new $75 million precinct in the heart of the Sydney CBD, has just been unveiled.
The precinct, owned by superannuation fund-backed manager ISPT, has linked three Fender Katsalidis-designed buildings to create a new premium office location bounded by George, King, York and Barrack Streets.
Spanning around 54,000 sqm of commercial space, Current tenants include tech giant Atlassian, TAL and EML, who comprise around 3,000 workers.
<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/2018/11/28/George2.jpg" alt="">
The lobby of George Place, beneath a ceiling structure integrated with a bespoke, programmable lighting concept, features ethically sourced indigenous art from the Northern Territory.
It offers a choice of meeting spaces, quiet zones, social hubs and food and bar options.
George Place is made up of buildings at 345 and 363 George Street, as well as the heritage-listed 24 York Street.
In 2006 ISPT acquired the three adjacent A Grade commercial office towers.
 
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ISPT unveil $75 million George Place precinct in Sydney

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Dexus and GIC, Singapore’s sovereign wealth fund, have joined forces for a new unlisted trust.
The circa $2 billion fund will be known as the Dexus Australian Logistics Trust (DALT) and will look to invest in logistics properties in Australia.
The venture will be with a $1.4 billion logistics portfolio of assets mostly located in Sydney and Melbourne.
The weighted average lease expiry of the portfolio is 5.3 years with occupancy at 98%.
DALT will also add three further sites with development potential and a total future completion value of $0.5 billion.
Subject to FIRB approval, GIC will be DALT’s foundation investor, taking an initial 25% investment in the core portfolio, with put and call rights to acquire an additional 24% by June 2020.
Lee Kok Sun, Chief Investment Officer, Real Estate, said: “This investment reflects GIC’s confidence in the long-term potential of Australia’s logistics sector.
“We believe the structural and consumption growth in Australia, particularly from favourable demographics and growth in e-commerce, will continue to drive demand for logistics properties.
“This portfolio of quality assets in strong locations is well-positioned to capitalise on this and generate steady income over the long term.
“We look forward to partnering Dexus, a leading manager and developer of industrial properties in Australia, to establish and scale this venture.”
4 Turnbull Close, Greystanes, NSW (pictured above)
<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/2018/11/26/27%20Distribution%20Drive%20Truganina%20VIC.jpg" alt="">
27 Distribution Drive, Truganina, VIC (pictured above)
<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/2018/11/26/50%20Foundation%20Road%20Truganina%20VIC.jpg" alt="">
50 Foundation Road, Truganina, VIC (pictured above)
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Dexus joins with Singapore sovereign wealth fund for logistics focused unlisted REIT

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A brand new Pimpama Service Centre, located in Queensland’s second fastest growing suburb, has hit the market.
The property, 45km south of the Brisbane CBD and 30km north of the Gold Coast, is anchored by high profile international and national food brands and established retailers including United Petroleum, Pizza Hut, Carls Jr, Red Rooster and Zambrero.
The service centre is situated on an 8,750 sqm site, opened in July this year. It offers an annual income of around $980,000.
<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/2018/11/26/BRIS_RET_Pimpama2.jpg" alt="">
The centre benefits from a strategic position in Pimpama - Queensland’s fastest – and Australia’s second fastest - growing suburb with 25% population growth per annum.
 
Choice Homes are <a href="/expert-insights/building/pimpama-village-on-the-gold-coast-soon-to-sell-out-stage-three">currently building Pimpama Village</a>, which are selling out fast in the local area.
CBRE’s Darren Collins, Joseph Du Rieu and Kevin Tong have been appointed to manage the sale of the service centre on behalf of ADCO Constructions. 
Collins said the sale represented an outstanding opportunity to acquire a thriving asset with long lease and strong income potential. 
“Pimpama has had an extremely strong growth story over the past five years, which is attributed to its ideal location that offers affordable coastal living very close to the M1- the main road linking Brisbane and the Gold Coast," he said.
"This premier location will underpin the success of the centre and its retailers,” Mr Collins said. 
“Earlier this year, Carls Jr opened its 20th Australian store at Pimpama, marking one of the retailer’s most successful store openings to date and highlighting the tremendous appeal and strength of this outstanding location.”
The Pimpama Service Centre is being offered for sale with a 12-year WALE – with its newest retailers, Pizza Hut and a Chinese eatery, opening this week. 
 
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Service Centre in Qld’s booming Pimpama hits the market

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Knight Frank's Asia-Pacific Prime Office Rental Index for Q3 2018 has showed slower growth, however is still on the rise.
The Q3 Index increased saw an increase of 2.3% quarter-on-quarter and 6.4% year-on-year.
The index showed slower growth, as office occupiers delayed significant real estate decisions amidst rising US-China trade tensions
<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/2018/11/26/asian%20pacific%202.jpg" alt="">
Despite slower growth, 18 out of the 20 cities tracked report stable or increased rental growth.
Rental growth in Sydney and Melbourne continues to be among the strongest in the region, recording further increases during the quarter to be up 14% and 7% over the past year respectively  
Knight Frank's head of research and consulting Australia Ben Burston puts the increases down to employment growth and subdued development activity.
“Buoyant employment growth and subdued development activity continues to drive rental uplift in Sydney and Melbourne, which have recorded some of the strongest growth in the region over the past year," Burston said.
"The level of supply scheduled to deliver in 2019 simply will not redress the imbalance, and this will continue to drive rents and motivate tenants to pursue densification strategies or consider emerging fringe markets where expansion can be more easily achieved.”
Asia-Pacific Prime Office Rents
<table style="width: 430px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="91">
City
</td>
<td valign="top" width="126">
Submarket(s)
</td>
<td valign="top" width="117">
3-month % change (Q2 2018 - Q3 2018)
</td>
<td valign="top" width="96">
Forecast next 12 months
</td>
</tr>
<tr>
<td valign="top" width="91">
Brisbane
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.7%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Melbourne
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
2.6%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Perth
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.2%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Sydney
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
2.5%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Tokyo*
</td>
<td valign="top" width="126">
Central 5 Wards
</td>
<td valign="top" nowrap width="117">
5.6%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Beijing
</td>
<td valign="top" width="126">
Various
</td>
<td valign="top" nowrap width="117">
0.7%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Guangzhou
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.3%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Shanghai
</td>
<td valign="top" width="126">
Puxi, Pudong
</td>
<td valign="top" nowrap width="117">
0.0%
</td>
<td valign="top" nowrap width="96">
Decrease
</td>
</tr>
<tr>
<td valign="top" width="91">
Hong Kong
</td>
<td valign="top" width="126">
Central
</td>
<td valign="top" nowrap width="117">
2.7%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Taipei
</td>
<td valign="top" width="126">
Downtown
</td>
<td valign="top" nowrap width="117">
0.0%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Seoul
</td>
<td valign="top" width="126">
CBD, GBD, YBD
</td>
<td valign="top" nowrap width="117">
-0.7%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Bengaluru
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.4%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Mumbai
</td>
<td valign="top" width="126">
BKC
</td>
<td valign="top" nowrap width="117">
3.9%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
NCR
</td>
<td valign="top" width="126">
Connaught Place
</td>
<td valign="top" nowrap width="117">
0.0%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Phnom Penh
</td>
<td valign="top" width="126">
City Centre
</td>
<td valign="top" nowrap width="117">
0.1%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Jakarta
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.0%
</td>
<td valign="top" nowrap width="96">
Same
</td>
</tr>
<tr>
<td valign="top" width="91">
Kuala Lumpur
</td>
<td valign="top" width="126">
City Centre
</td>
<td valign="top" nowrap width="117">
-0.2%
</td>
<td valign="top" nowrap width="96">
Decrease
</td>
</tr>
<tr>
<td valign="top" width="91">
Singapore
</td>
<td valign="top" width="126">
Raffles Place, Marina Bay
</td>
<td valign="top" nowrap width="117">
1.1%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Bangkok
</td>
<td valign="top" width="126">
CBD
</td>
<td valign="top" nowrap width="117">
0.0%
</td>
<td valign="top" nowrap width="96">
Increase
</td>
</tr>
<tr>
<td valign="top" width="91">
Manila
</td>
<td valign="top" width="126">
Various
</td>
<td valign="top" nowrap width="117">
0.8%
</td>
<td valign="top" nowrap width="96">
Decrease
</td>
</tr>
</tbody></table>
<a href="https://www.propertyobserver.com.au/images/2018/11/26/asian%20pacific%202.jpg" target="_blank">Click here</a> to enlarge:
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Slower office rental growth, but still increasing: Knight Frank's Prime Office Rental Index

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EXPERT OBSERVER
Nationally dwelling values as at October 2018 have fallen by - 3.5% from their peak with much larger falls in Sydney, Melbourne, Perth and Darwin.
The reality is that there has been very little improvement in housing affordability; Sydney and Melbourne in particular are a little cheaper, but remain substantially more expensive than other capital cities.
Although house values in Sydney are now -9.3% lower than their peak, the cost of a house in Sydney is still substantially higher than elsewhere at $960,344. In fact, a house in Sydney is now more than double the median value of an Adelaide and Hobart house.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/22/corelogic%201.jpg" alt="">
 
Source: CoreLogic
Looking at house values over time is interesting. 
Sydney has consistently been the most expensive capital city housing market however, although at one point, Perth was slightly more expensive (after Perth values surged more than 40% annually at one point in 2006 on the back the resources boom). Relative to other capital cities the Sydney premium is recorded at: 23% for Melbourne, 76% for Brisbane, 105% for Adelaide, 100% for Perth, 101% for Hobart, 88% for Darwin and 44% for Canberra.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%202.jpg" target="_blank">Click here</a> to enlarge;
<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/2018/11/22/corelogic%202.jpg" alt="">
Source: CoreLogic
Despite recent value falls in Sydney, the value gap has not been at such wide levels as it is currently for most cities since late 2003/early 2004. The one exception is the value differential for Melbourne, which over recent years has been substantially narrower than previously.
Similarly, the Melbourne value gap compared to other capital cities (except Sydney) is the widest it has ever been. Historically, the value of houses in Melbourne have been quite similar to those in Brisbane and Perth however, this is no longer the case.
For units, the story is a similar one. Sydney’s median unit value at ($740,394) remains more expensive than median house values in all other capital cities except for Sydney and Melbourne. Similarly, the median Melbourne unit value ($555,517) remains higher than median house values in all other capital cities except Sydney, Melbourne and Canberra.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/22/corelogic%203.jpg" alt="">
Source: CoreLogic
Over time, unit values have saw a consistent trend whereby Sydney has been more expensive than the other capital cities. 
The current premium for Sydney compared to other capital cities sits at: 32% for Melbourne, 90% for Brisbane, 123% for Adelaide, 94% for Perth, 95% for Hobart, 134% for Darwin and 67% for Canberra. 
As was the case for houses, the differential has not been as large as it is currently between Sydney and these other capital cities since 2003/2004. Melbourne was exception where the differential has been reducing over recent years.
With house and unit values falling in Sydney and Melbourne, Mr Kusher expects the premiums to reduce further over the coming months and year(s).
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%204.jpg" target="_blank">Click here </a>to enlarge:
<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/2018/11/22/corelogic%204.jpg" alt="">
Source: CoreLogic
While this may be the case, any significant reduction in housing costs back to historic premiums would take a long period of declines or flat housing market conditions. Furthermore, it seems unlikely, given the economic strength and populations of Sydney and Melbourne that the value premium of housing in these two cities will revert to historical levels. 
CAMERON KUSHER is a property research analyst for CoreLogic
</div>
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ckusher-ujnxiKuFQs

Very little improvement in housing affordability despite dwelling decline

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Cashed up investors and owner occupiers continue to snap up vacant retail property across Melbourne.
Fitzroys agents Terence Yeh and Chris Kombi have sold the two-level <a href="https://www.realcommercial.com.au/property-retail-vic-moonee+ponds-502989582" target="_blank">85 Puckle Street building in Moonee Ponds</a> for $2.285 million under the hammer.
A Chinese investor won the auction after 118 bids were submitted from multiple parties.
The two storey building of 170sqm is within an Activity Centre Zone and encompasses a shop on the ground floor and a first floor apartment.
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<div class="section">
<div class="layoutArea">
<div class="column">
Yeh said the campaign generated enquiry from local and offshore investors and owner occupiers, driven by the strong pipeline of residential projects that is reshaping the well- connected inner north-west suburb that boasts a number of national tenants. 
“There are more than 1,500 apartments within the Moonee Ponds Activity Centre in various stages of planning and development, generating confidence among investors and businesses for the retail strip’s long-term viability,” he said. 
These include the Mason Square development on the former Moonee Ponds market site of 1.34 hectares, while the future $2 billion overhaul of the nearby Moonee Valley Racecourse will include multiple residential and commercial buildings, adding a further 2,000 dwellings. 
Kombi said that despite banks having a resistance to lending against vacant properties, there has been strong interest through sales campaigns and competitive bidding at recent auctions.
“Astute investors and owner occupiers will continue to be active in this space, as the low interest rate environment is expected to remain for some time. 
“Investors still sitting on cash are turning their eye towards vacant retail property across Melbourne, and have been joined in the hunt by owner occupiers.” 
</div>
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Investors and owner occupiers recently competed for the former premises of Brighton icon Wild Holly Cakes on Bay Street, which Fitzroys sold $2.905 million.
The agency also sold the vacant former Commonwealth Bank branch at 692 Old Calder Highway in Keilor to a private investor.
 
</div>
</div>
</div>
</div>
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