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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 mixed use site in Elwood with development potential has been listed.
The 336 square metre 63 &amp; 63A Glenhuntly Road property is currently home to a medical centre with five consulting rooms, as well as an apartment with a balcony.
The property has a combined $103,680 per annum return.
The Elwood Family Clinic has a permit to extend the practice to eight rooms. 
The property is located between Broadway and Ruskin streets  and is zoned Commercial 1, which promotes mixed use development including retail, office, business, entertainment and community uses, as well as residential. 
The marketing agents, Teska Carson’s George Takis and Larry Takis, said the area is seeing an upsurge in popularity with residential and commercial developments completed in recent years.
“This exceptional property is prominently positioned within the tightly held Elwood retail/commercial precinct, and within one of Melbourne’s most popular bayside residential areas,” George Takis said.
“The location benefits from excellent amenities including a plethora of retail, cafes, restaurants, recreational facilities, bayside beaches, and is only 7.5 kilometres from Melbourne’s CBD.”
The property will be auctioned onsite on Thursday, November 29 at 12pm. 
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j.ballantyne1990-6AQqhLzZaK

Mixed-use Elwood investment with extension permit set for auction 

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A near-new petrol station in Echuca has sold for $7.5million on a 6.5% yield.
Property industry players Peter Spargo and Bill Guest were the vendors of the 161-189 Ogilvie Avenue property.
It is leased to United Petroleum and Hungry Jacks until 2028 with options to extend.
The site contains a 1,191 square metre building on a 5,240 square metre site.
Colliers International’s Daniel Wolman, Anthony Kirwan and Harry Bui in conjunction with Melcorp Commercial’s Paul Jones and Tim Spargo sold the property via an expression of interest campaign.
“The collaborative approach to the sales campaign for this regionally located property proved to be highly successful, with multiple offers received at the conclusion of the EOI process,” Wolman said.  
“The successful purchaser, a private investor from Victoria, acquired the property for $7.5million, a sale price which reflects a tight regional yield of 6.7%. 
“The sale, which has set a new benchmark for the local property market, is another sign that despite a reported cooling in market conditions and funding concerns, the market is still awash with cash buyers and is highly competitive.” 
Kirwan said buyers were increasingly looking for alternative investment options. 
“The major appeal of this asset was the high calibre tenant covenant, fixed income growth and the fact that having been so recently developed, an astute buyer could reap the rewards of newly constructed improvements and great depreciation benefits,” he said. 
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Near-new Echuca service station sold for $7.5 million

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GUEST OBSERVATION
The Reserve Bank of Australia (RBA) has once again made the decision to keep the nation’s official cash rate on hold at 1.50%, reaffirming its long-running stance on monetary policy.
However, the official cash rate does not give a clear indication of what is happening with Australian home loan rates as lenders move their rates on a regular basis, pushing up borrowing costs for new and existing customers.
Following lenders’ recent out of cycle rate increases, mortgage rates edged higher in September, with the average discounted rate for owner occupiers rising from 4.50% to 4.55%, according to recent data from CoreLogic.
“Whether lenders’ rates will lift further is dependent on a number of economic factors and at present Australian economic conditions are positive on the whole and have given the RBA no reason to change its current position on monetary policy.
GDP growth has been above potential levels and business conditions are positive. The pace of increase in household indebtedness has slowed and the labour market is strong. While wage growth is benign, it is expected to grow. That being said, inflation continues to underperform market expectations and national dwelling values continue to ease. National Australia Bank’s Monthly Business Survey revealed that business conditions remained well above average and business confidence was around average levels in September. The latest Westpac Melbourne Institute Index of Consumer Sentiment revealed that consumer sentiment rose in September, however the recent leadership change in Canberra, increasing mortgage rates and declining house prices were weighing on confidence. The most recent Labour Force Survey from the Australian Bureau of Statistics (ABS) revealed that employment growth is strong. The unemployment rate of 5.0% is the lowest in over six years, and is largely considered to be the natural rate of unemployment in Australia. According to the most recent CoreLogic Hedonic Home Value Index, national dwelling values continue on their correction, taking the annual decline to 3.5% in October, signalling the weakest conditions since February 2012. The Australian Bureau of Statistics’ (ABS) September quarter Consumer Price Inflation (CPI) report revealed headline and core inflation remain below the bottom of the RBA board’s target band, giving them little incentive to alter the cash rate. In the minutes of the October monetary policy meeting, RBA board members reflected on the changes to lending standards and observed that standards could tighten further and competition for borrowers of high credit quality remained strong.
In a housing market where house prices are declining, home loan interest rates rising despite a stagnant official cash rate and home loan applications are being scrutinised more than ever before, it’s never been more important for prospective buyers to ensure they look good on paper and seek guidance from a qualified mortgage professional. Increasingly, Australian consumers are responding to the tightened lending environment by seeking the guidance of a mortgage broker. According to the Mortgage and Finance Association of Australia (MFAA), the broker channel is growing, with over 55% of new residential home loans originating through brokers in the March quarter 2018. Going forward, I would urge those looking to buy their first home or investment property, or looking to refinance an existing loan to speak to a mortgage broker first and early on in their home loan journey. 
SUSAN MITCHELL is the CEO of Mortgage Choice (pictured above).
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Policy makers make safe bet on cash rate: Mortgage Choice

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Median values reflect an estimate of the middle value of all residential properties within a market.
The median is useful for understanding the middle of the market, however across the metropolitan area of our cities there is great deal of diversity in housing values.
Sydney’s median dwelling value as at October 2018 was $833,876 and the SA4 region closest in median value was the Inner South West at $840,805.
Most of the areas that have a median value lower than that of greater Sydney are located some distance from the city centre while those with higher values are typically the areas closer to the city centre or along the coastline.
The city’s most affordable SA4 region is Outer South West ($602,246) and the most expensive is Northern Beaches ($1,383,461).
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20SYD.JPG" alt="">
 
Across Greater Melbourne, the median dwelling value is recorded at $665,044.
The city’s most affordable region is West ($578,922) and the most expensive region is Inner East ($1,127,558).
Outside of the highly desirable Eastern and Inner regions values are remarkably similar across the remaining Melbourne regions.
In fact, only the Inner East, Inner South and Outer East have median values that are higher than that of Greater Melbourne.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20MEL.JPG" alt="">
Brisbane’s median dwelling value is currently $491,925.
While that is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that.
The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).
Only three SA4 regions of the city actually have a median value which is lower than the city-wide median.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20BRIS.JPG" alt="">
 
Greater Adelaide’s median dwelling value was recorded at $431,554 as at October making it the nation’s most affordable capital city housing market.
Throughout the city’s four SA4 regions, Central and Hills is noticeably more expensive than the rest and North is noticeably cheaper.
Central and Hills and West are more expensive than the city-wide median and South and North are cheaper.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20ADL.JPG" alt="">
The Inner region of Perth is overwhelmingly the most expensive region of the city while Mandurah is substantially more affordable than all other Perth regions (note it sits on the southern outskirt of the city).
Greater Perth’s median dwelling value is $451,148 and most of the remaining regions of the city have median dwelling values which sit quite close to the city-wide median.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20PER.JPG" alt="">
 
Greater Hobart doesn’t have any individual SA4 regions within the capital city boundary, so the chart provides a comparison in median dwelling values between Hobart and the other SA4 regions of the state.
Hobart is substantially more expensive than the rest of the state with the West and North West the most affordable.
The relatively affordable housing costs outside of Hobart are driving demand with the three regional SA4 regions of Tas having seen the highest rates of value growth nationally over the past year.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20TAS.JPG" alt="">
In NT, there are only two SA4 regions; Darwin and NT-Outback. As the accompanying chart shows, outside of Darwin the cost of housing is substantially more affordable.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20NT.JPG" alt="">
Overall, the data provided offers a more granular insight into how median values in each city compare to smaller regions across each city.
It also reiterates the importance of analysing markets within smaller geographic areas as housing costs or the housing market performance can be vastly different when you look at different areas of a city.
The data also highlights that desirable areas close to the city centre typically have much more expensive housing costs than the broad capital city median.
Although it is clichéd; location, location, location holds true and purchasers still pay a significant premium for well-located properties
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There is more to house prices than the median: Cameron Kusher

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Belgian construction player Besix has renewed its takeover intentions for the Brisbane-based Watpac.
It has lobbed a new $169 million cash bid.
Besix, already Watpac's largest shareholder, failed four months ago in a bid to secure two-thirds ownership of the ASX-listed contractor and mining services group.
However they lacked the support from fellow shareholders and were unable to get the plan approved.
If their bid is accepted, the Belgian builder has stated it would continue to operate the Australian company as a standalone business by retaining its brand and local identity.
"We continue to believe in the strong fundamentals of the Watpac business and are supportive of current management and their strategic direction," Besix chief executive Rik Vandenberghe, said.
Watpac's independent board committee has recommended the offer from Besix in the absence of a superior proposal emerging.
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Belgian builder Besix renews takeover attempt of mining company Watpac

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EXPERT OBSERVER
The recent Greater Sydney Commission policy on industrial and urban services land across Sydney is too narrow in its scope.
An ‘Information Note’ and a policy document from the Greater Sydney Commission’s (GSC) ‘Thought Leadership Series’ titled A Metropolis that works outlines the GSC’s policy on employments lands and advises planning authorities to take a very narrow view of land use across metropolitan Sydney.
The advice is issued in a pre-election environment where concerns have been expressed by some community groups about the extent of apartment development in Sydney.
While the GSC’s policy picks up on the Greater Sydney Region Plan objective on industrial and urban services land it does not refer to the exception to the objective for the Parramatta Road area as outlined on page 133 of the Region Plan.
This leaves land owners in an uncertain position on the relevance of the Parramatta Road Corridor Urban Transformation Strategy which gave clear envelopes and new uses for current industrial land in the corridor.
The GSC document implies that there is a significant shortage of industrial land across Sydney but major areas are planned for industrial use south west of the Western Sydney Aerotropolis, the extension to the Western Sydney Employment Hub and areas of proposed industrial land in the North West and South West of Sydney.These land areas need to be released.
The Urban Taskforce believes that the proposed ‘retain and manage’ approach to industrial land in the Eastern City is too restrictive and will eliminate many sites that could provide large precinct developments that incorporated jobs, infrastructure including parks, child care, health and community centres and residential development.
Community concerns about the extent of apartment development in Sydney can be partly resolved by incorporating infrastructure, parks and community services for education and health within a mixed use development.
An example is East Village in Zetland that incorporates a car service centre, a medical centre, a Montessori Academy and a supermarket as well as a sky park and 206 apartments.
Another example is Central Park on Broadway where child care, health centres, parks and community facilities are provided along with the apartments.”
The Urban Taskforce proposes a new approach to balancing Sydney’s growth along with the need for urban services and industrial uses as outlined in our 6 point plan:
1. Ensure that at least 10,000 hectares of industrial land is zoned in North West and South West Sydney and around the Aerotropolis.
2. Release fifty percent of the Retain and Manage industrial land in the Eastern City and the Central City for mixed use development that includes urban service uses.
3. Identify industrial land in the Eastern City and the Central City that is economically unviable but would provide sites for mixed use precincts with significant housing as well as jobs.
4. Develop a more detailed analysis of urban service uses that are compatible with mixed use development and define the percentage of job producing areas within mixed use zoning.
5. Develop a more detailed analysis of industrial uses and their preferred location in the city including freight and logistics.
6. Establish a high level assessment body to give guidance to land owners and developers on which lands are appropriate for mixed use development that includes urban services.
The Urban Taskforce is developing its own Thought Leadership Report on the changing nature of jobs in metropolitan Sydney and where industrial and urban service jobs are best located.
The report will also look at ways to diffuse the current concerns about new apartment development by proposing an approach that can provide infrastructure and community uses with a mixed use development that also includes jobs.
Chris Johnson is the Urban Taskforce CEO 
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Greater Sydney Commission approach to industrial land is too narrow: Chris Johnson

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EXPERT OBSERVATION
<div>A big jump in listings in Melbourne and Canberra this month, with Melbourne's available stock now comfortably exceeding 39,000, according to SQM Research's latest data and media release.</div>
<div> </div>
<div>There were small declines in October for Brisbane, Adelaide, and notably Darwin and Perth.</div>
<div>
 But the two major capital cities are well up from last year.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s1600/SQM1.jpg"><img src="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s640/SQM1.jpg" width="640" height="370" data-original-height="798" data-original-width="1375"></a></div>
<div>
 It took a bit longer to get there, but Melbourne has now well and truly joined Sydney with its slowing market, with stock levels leaping 5.9 per cent higher in the month of October alone.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s1600/SQM2.jpg"><img src="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s640/SQM2.jpg" width="640" height="376" data-original-height="799" data-original-width="1360"></a></div>
From a year earlier, Melbourne listings are up by 24.3 per cent, suggesting very slow sales activity in the Victorian capital.
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Melbourne stock surge: Pete Wargent

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NSW Land Registry Services has committed to lease one and a half floors at 175 Liverpool Street, in the southern end of the Sydney CBD.
Savills Australia’s Rob Dickins negotiated the term of five years and six months at a rate of $985 per sqm, saying the tenant was attracted to the prominent A-grade quality of the building.
“Offices in 175 Liverpool Street have panoramic views over Hyde Park to the harbour and provide spacious, fitted-out accommodation,” Mr Dickins said.
<img src="https://www.urban.com.au/images/2018/11/7/Liverpool%202.JPG" alt="">
The office tower has retail on the ground floor, a large underground parking station, and modern end-of-trip facilities.
NSW Land Registry Services will relocate from the land titles office opposite St Mary’s Cathedral on April 1, 2019.
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Savills negotiates relocation to Liverpool Street for NSW Land Registry Services

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The former Melbourne home of collapsed wedding reception service The Willows has hit the market with $9.5 million expectations by the landlord.
The venue manager Lewis Hospitality Management, the previous tenant at <a href="https://www.commercialrealestate.com.au/property/462-st-kilda-road-melbourne-3004-vic-3004-2014737395" target="_blank">462 St Kilda Road</a>, went into liquidation in June when 64 couples were collectively left more than $300,000 out of pocket, The Age reported.
Constructed in 1890, the heritage-listed building, known as Rathgael, was built for bookmaker Leon Cohen as 16-room brick house.
<a href="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows.jpg"><img class="size-full wp-image-60014 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows.jpg" alt="The building, Rathgael, was built in 1890. Photo: Supplied" width="709" height="533"></a>
The listing agents suggest the 987 sqm site would be attractive as offices, retail, and hospitality or for further development, subject to council approval.
It is one of very few mansions remaining that shows the extravagant prestige of the era.
<a href="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows-2.jpg"><img class="size-full wp-image-60015 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows-2.jpg" alt="The venue could be reused for hospitality services. Photo: Supplied" width="709" height="533"></a>
With a seven day, on-site liquor permit, the freestanding property has an outdoor area fronting 29 metres of St Kilda Road, as well as a commercial kitchen.
The property is being marketed through a public tender campaign, closing November 29 through co-agents Colliers International and Allard Shelton by its owners, the Aswani family, which has held it as an investment asset for 20 years.
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Former Melbourne home of collapsed wedding reception venue, The Willows, for sale

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The fundamentals of the Parramatta market are robust, with a growing office workforce and continued increase in the resident population making the city an attractive retail location, according to Ray White’s latest Between the Lines commercial research.
The CBD is in the midst of a development boom and the construction of new commercial and residential towers, together with transport improvements have disrupted the city.   Ray White Commercial’s Head of Research Vanessa Rader said the developments will continue for the next few years, with the major light rail project closing streets and unlikely to be completed until 2023, but it will be worth the wait.   Ms Rader noted, “the high occupancy and growing rents achieved across the Prime Parramatta retail strip are encouraging, with the continued demand highlighting the long-term longevity apparent in this location.” She said the leasing market across the Parramatta CBD strip retail market has been mixed during 2018 and that while demand is high, the uncertainty surrounding the extent of disruption to trade has made negotiations more difficult.
Their research found that gross face rents recorded growth over the past 12 months of 3.54 per cent across the total market.   Ms Rader said Ray White Commercial had surveyed the Prime Church Street retail strip, with the location divided into two zones*.   “Across the total Parramatta Prime strip, vacancy is recorded at just 6.35 per cent. The larger Zone 1 is outperforming, with a vacancy of 5.55 per cent compared to Zone 2, at 10.89 per cent,” she said.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%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/2018/11/6/parramatta%201.jpg" alt="">
Source: Ray White   “While cafés and restaurants are the main operators along the Church Street strip, the remaining mix is quite different.   “Zone 1 has a total of 43.62 per cent of all space devoted to food retailing, with services featured high at 19.67 per cent.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%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/2018/11/6/parramatta%202.jpg" alt="">   “This zone also has a somewhat even split to other retailers being clothing and soft goods, personal and household goods and recreational goods representing approximately 8 per cent of the total floorspace each.   “Along Zone 2 we see a greater reliance on food retailing, accounting for 45.91 per cent with a larger grocery component. Services also dominate, representing 41.25 per cent of space given the existence of the council offices and other banks/professional services.”   The ongoing development across the CBD, most notably the light rail project, has raised some concerns by owners regarding the disruption it will cause to their tenancies.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%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/2018/11/6/parramatta%203.jpg" alt="">   Despite this, the future benefits of this and other development across the Parramatta CBD will ensure that this location remains a vibrant retail hub into the future.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%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/2018/11/6/parramatta%204.jpg" alt="">   *Zone 1 being the area from Parramatta River to the train line (including mall fronted properties) while Zone 2, which is known as the Chinatown end of Church Street, includes the street front retail (excluding Westfield tenancies) up to Campbell Street.In total this represents just shy of 35,000 sqm with 85 per cent represented in the Zone 1 precinct.
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