The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

New South Wales

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Tradies are in short supply in NSW’s regional area and lack of competition could see their profits in these areas soaring, according to data from a jobs website.
The ServiceSeeking.com.au data highlights the most profitable areas for tradies operating in New South Wales.
The website aims to connect tradies with jobs in their local areas.
The data found that builders in Dubbo and Orana have 69% less competition versus the national average.
Carpenters in the Blue Mountains and Hunter Valley regions are also severely undersupplied.
Newcastle is running dry of painter with 50% less competition than the national average, while plasterers and tilers should look towards the South Coast.
 “If you’re a builder in the South Coast or regional NSW, the undersupply in Dubbo or Shoalhaven is a huge opportunity,” says ServiceSeeking.com.au CEO Jeremy Levitt.
“It’s a great chance for builders to increase their prices and capitalise on the lack of supply.
“Targeting areas where there’s less competition is a great way for tradies to jump in and make serious money.”
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j.ballantyne1990-6AQqhLzZaK

Tradies in short supply in regional NSW

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Over the 12 months to November 2016, a total of 49,623 residential houses and agricultural properties were sold across regional New South Wales, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
The volume of properties transacting was down -6.8 percent compared with this time last year while the total value of sales fell -2.2 percent to $24.6 billion over the same period.
Over the year to November 2016, residential house sales accounted for 75.9 percent of transactions and 67.8 percent of the value of all sales.
<a href="https://www.propertyobserver.com.au/images/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.24.59%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.24.59%20pm.jpg" alt="">
There were 11,971 agricultural properties sold over the 12 months to November, -8.9 percent fewer than the previous year when 13,140 properties transacted.
Of the 11,971 sales, 68.4 percent were on a land size of less than 40 hectares, 15.2 percent were on 40 to 100 hectares.
14.5 percent were on 100 to 1,000 hectares and 1.9 percent of properties were on more than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.12%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.12%20pm.jpg" alt="">
Looking at the value of agricultural property sales, $7.9 billion properties transacted across regional New South Wales over the year to November 2016.
This is down -5.5 percent from $8.4 billion the previous year.
<a href="https://www.propertyobserver.com.au/images/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.26%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.26%20pm.jpg" alt="">
58.8 percent of the overall value was for properties sold on a land size of less than 40 hectares, 12.9 percent were for lots between 40 and 100 hectares in size.
19.6 percent were on 100 to 1,000 hectares and 8.7 percent were on more than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.35%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/23/Screen%20Shot%202017-03-23%20at%2012.25.35%20pm.jpg" alt="">
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New South Wales rural and regional property sales volume in decline: Harcourts

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Development has begun at the GJ Gardner Variety Freedom House with Rugby League star Mark Geyer and grant recipient Jayden Taylor turning the first sod.
The GJ Gardner Variety Freedom House is a partnership between GJ Gardner Homes and Redbank North Richmond to raise money for Variety.
A GJ Gardner Hawkesbury home will be constructed at the Redbank Richmond development at cost price.
Tradies and businesses are invited to donate their time and supplies to keep costs down and raise as much money as possible for Variety.
Rugby league's Mark Geyer said if you’re a tradie or supplier who is willing to help, this is your opportunity to step up and make a difference to kids in need.
"The more time or supplies you can donate, the more help we can provide,” he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/Mark%20Geyer%20and%20Jayden%20Taylor%20at%20GJ%20Gardner%20Variety%20Freedom%20House%20%20Turning%20of%20the%20Soil%204%20sml.jpg" alt="">
David Hogan, GJ Gardner Sydney West franchisee said the GJ Gardner Variety Freedom House will be our popular Hawkesbury design which has captivating, attractive features and modern, spacious living areas.
"We expect it to be a popular purchase for buyers wanting to move into the local area,” he said.
"The house will be built in the majestically situated development overlooking more than 85 acres of heritage-protected parklands.
Redbank has been master planned by renowned urban designer Brian Toyota of ML Design to be North West Sydney's premier address - an eclectic mix of traditional family home sites and grand homestead lots for growing families."
A similar initiative in both Shoalhaven and Tamworth raised more than $400,000 combined.
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Development begins at GJ Gardner Variety Freedom House

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A five hectare site on the Pacific Highway, Ballina, in northern New South Wales is on the market with expectations of more than $35 million.
A modified plan for the site had been approved by Ballina Council for a highway service centre. It is for sale via Offers to Purchase by Andrew Schmidt and John Dwyer of Ray White on behalf of interests associated with former Consolidated Properties co-founder Steve Tyson.
Andrew Schmidt said the new centre will be anchored by a 15-year lease plus 2 x 10-year options to Caltex, who will offer a state-of- the-art facility incorporating separate truck and standard vehicle facilities and parking for up to 25 B-doubles and capacity for AB-triples.
“The design of the complex ensures the traditional conflict between cars and trucks evident in so many existing service centres will be a thing of the past in this project," he said.
“Service centres have become a highly sought after asset class in the current market, and the outstanding mix of tenants on long leases in this centre coupled with the prime location, is expected to appeal to both the institutional market and also major private groups.
"The current approximate net income is $1.5 million per annum.”
John Dwyer said another feature of the service centre will be the largest and most diverse food court offering on the east coast.
"KFC had committed to a 15-year lease with 3 x five-year options for a new freestanding KFC store on an adjoining lot to the service centre," he said.
“The food court includes healthy food operators Oliver's Real Food and growing kebab group Zaza Kebabs, while Gloria Jean's Coffee will operate one of the two drive-through facilities.
“Negotiations are underway with the three pad sites with an opportunity to acquire the adjoining adjacent land parcel comprising approx. 6.48ha.
McDonald's has acquired its own lot and recently submitted a Development Application.
Offers to Purchase close on Wednesday, April 5, 2017.
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Ballina highway service centre site hits the market

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New South Wales and Victoria now account for a historically high proportion of national mortgage demand which continues to drive dwelling values much higher across these two cities compared with other regions.
The current housing market growth phase has really been all about Sydney and Melbourne.
When you look at dwelling value growth, increases have been substantially higher in Sydney and Melbourne than in all other capital cities.
At the same time, demand for mortgages has surged across NSW and Vic (both of which are proxies for Sydney and Melbourne) while it has barely increased across the remaining states and territories.
The first chart highlights the change in capital city dwelling values over the current growth phase.
The growth phase broadly began in June 2012 and over the period, only Sydney and Melbourne have recorded value rises greater than 21%.
The rise in values has been supported by low interest rates and availability of mortgage finance however, other factors such as localised economic performance, population growth and foreign demand have driven the much stronger growth in Sydney and Melbourne than across the other capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" alt="">
Looking at mortgage finance across the states and territories, in December 2016 the value of mortgage lending across each state and territory was recorded at: $14.5 billion in NSW, $9.6 billion in Vic, $5.1 billion in Qld, $1.6 billion in SA, $2.7 billion in WA, $0.3 billion in Tas, $0.2 billion in NT and $0.7 billion in ACT.
Over the month, NSW (41.8%) and Vic (27.7%) accounted for a combined 69.5% of the value of all housing finance commitments which was an historic high.
In June 2012 when the current growth phase commenced, 33.6% of housing finance commitments were in NSW and 27.1% were in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" alt="">
The value of housing finance commitments for owner occupier housing in December 2016 across the states and territories were recorded at: $7.7 billion in NSW, $6.0 billion in Vic, $3.5 billion in Qld, $1.1 billion in SA, $2.0 billion in WA, $0.3 billion in Tas, $0.1 billion NT and $0.4 billion in ACT.
Since the current value growth phase commenced in June 2012, monthly mortgage lending to owner occupiers has increased from $4.3 billion in NSW and $3.9 billion in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" alt="">
In December 2016, the value of mortgage lending to investors across the states and territories was recorded at: $6.8 billion in NSW, $3.7 billion in Vic, $1.7 billion in Qld, $0.5 billion in SA, $0.7 billion in WA, $0.1 billion in Tas, $0.1 billion in NT and $0.2 billion in ACT.
More than three quarters (76.3%) of investor mortgage finance nationally in December 2016 was in NSW (49.6%) or Vic (26.7%).
While the proportion of lending to investors has previously been higher in each state, combined they make up the largest share on record.
At the beginning of the current growth phase, 37.3% of national investor finance commitments were in NSW and 25.1% was in NSW.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" alt="">
The data shows just how concentrated mortgage demand nationally is currently in NSW and Vic.
With the demand focused so much on those two states, it’s no wonder values in Sydney and Melbourne have increased so much more than in the other capital cities.
While steps have been made to cool mortgage demand, particularly from investors in Sydney and Melbourne, the data points to the fact that demand remains unquestionably strong.
With interest rates remaining at close to historic lows, it is clear that further changes will be required in order to slow mortgage demand and dampen the increases in dwelling values being experienced in Sydney and Melbourne.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Mortgage demand has surged in New South Wales and Victoria: Cameron Kusher

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New South Wales has modernised its strata laws to reflect 21st Century living with updated rules that came into effect this week.
It is the biggest overhaul in four decades. It was 1961 when Strata Plan No 1 was registered at an Enfield walkup. Now the Strata Schemes Management Act 2015 and Strata Schemes Development Act 2015 marks the most significant reforms since 1973 revisions. 
There are around 90,000 strata schemes across the state ranging from duplexes to those with 100s of flats.
More than two million NSW residents live in the apartments, units and townhouses, and that is set to rise dramatically from downsizers. 
The new rules will effect anyone who owns or rents.
Some changes will be noticed quickly while others will take time - especially the controversial reform that paves the way for urban renewal by the compulsory demolition particularly of well-position small, older apartment blocks on large land holdings.
There's over 90 changes being implemented by the Innovation and Better Regulations Minister Victor Dominello.
NSW was the first place in the world with strata title back in 1961, so there is no doubting they needed modernisation. Around 30% of schemes in the Sydney date back more than 30 years. 
Many of the new model by-laws only apply to new strata schemes. So the model rules including the pro-pet proposal won't see pets run amok in every strata. The changes will likely facilitate some owners corporations implementing by-laws that set limits on the number of people living in a unit, albeit with no limits on family members.
One of the most important changes relates to renovations, which ought make it a little easier for cosmetic alterations.
Strata schemes can pay the council to issue parking fines for pesky unauthorised use of the visitors’ spaces.
There are some modernisation on how a strata is run, such as allowing owners to use technology to communicate on issues, in meetings and casting a vote.   
Tenants will have more rights so if more than 50% of the building is tenanted, a tenant representative can be nominated as a non-voting member of the strata committee.
The most controversial change is the ability for the owners’ corporation to decide to sell or redevelop their building.
Instead of the previous requirement of unanimous consent, the 75% threshold is a generous gift to the development lobby especially as each apartment will have one vote, rather than be based on the more worthy unit entitlement.
It is extraordinary the lawmakers would seek to have the penthouse owner's voting entitlement the same as the viewless studio down near the laundry in the basement.
Turmoil will follow at the expense of individual property rights. All it takes is for anyone - it does not have to be a lot owner - to give a written proposal to the owners corporation for a sale or redevelopment of the strata scheme to be considered. 
Any strata then needs just half the owners - perhaps two of the four owners - to pass a resolution at a general meeting to progress the prospect further along.
The intending stayput owners do get around 74 days notice of the rug being pulled from under them with limited recourse.
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jchancellor-FAypfDUnLy

New South Wales updates strata laws

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Tumbarumba is ranked the NSW location where it is the slowest to sell a house, according to Investar’s latest market report.
The property investment firm states that an average house at Tumbarumba can expect to be on the market for 1028 days before being sold.
This is followed by Glenn Innes 653 days and Tea Gardens at 605 days.
<table border="1" align="left"><tbody>
<tr>
<td>Suburb</td>
<td>Postcode</td>
<td>Dwelling type</td>
<td>Bedrooms</td>
<td>Days on market</td>
</tr>
<tr>
<td>Tumbarumba</td>
<td>2653</td>
<td>House</td>
<td>3</td>
<td>1028</td>
</tr>
<tr>
<td>Glenn Innes</td>
<td>2370</td>
<td>House</td>
<td>2</td>
<td>653</td>
</tr>
<tr>
<td>Tea Gardens</td>
<td>2324</td>
<td>House</td>
<td>3</td>
<td>605</td>
</tr>
<tr>
<td>Tumut</td>
<td>2720</td>
<td>House</td>
<td>3</td>
<td>552</td>
</tr>
<tr>
<td>Jindabyne</td>
<td>2627</td>
<td>House</td>
<td>3</td>
<td>538</td>
</tr>
</tbody></table>
This list was produced using live on the market sales listing data.
It is also calculated at both a dwelling type and bedroom number level. It is designed to identify the slowest moving suburbs based on the average days a listing spends on the market at a suburb and property type level.
High average days on market indicates that the market is turning over stock slowly which may indicate that demand is weaker than supply creating a stronger negotiation point for buyers.
Houses for sale at Tumbarumba at the median price of $212,500 include a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-tumbarumba-123562838" target="_blank">10 Power Street</a> (above) that is for sale for $215,000. It has been for sale since September, but had been up for sale for much of 2014. It last sold at $175,000 in 2010.
Similarly a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-tumbarumba-123157482" target="_blank">23 Bell Street</a> (below) is for sale for $210,000. It was listed in July.
<img src="/images/2016/10/07/23%20Bell%20Street.jpg" alt="">
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Tumbarumba is NSW's slowest selling housing market: Investar

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A 108 hectare ridgeline Byron Bay hinterland property has been listed for private treaty sale with a $2.99 million plus asking price following its weekend auction.
It had been marketed as possibly in the handful of largest privately owned land holdings in the Byron Shire. There are over 10,000 Macadamia trees on the productive rich, deep volcanic soil and an abundance of water from a permanent spring, 10 large water tanks, man-made dam and excellent yearly rainfall. 
There are four silos and a fully equipped husking shed. There is also cattle grazing on the property located 20 minutes from Byron Bay.
Helen Huntly-Barratt and Caroline Pritchard at <a href="https://www.realestateview.com.au/Real-Estate/151-federal-drive-federal/Property-Details-buy-residential-8053786" target="_blank">First National Byron Bay have the listing</a>.
It has 270 degree rural views of the surrounding countryside through to Minyon Falls and the valleys below. 
It has 60 acres of lush rainforest.
The accommodation on the estate is expansive with a large main homestead with a self-contained flat, manager's quarters and a guest cottage.
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Macadamia farm on Byron Bay ridge line still for sale

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NSW Planning Minister Rob Stokes has signalled the state government was set to clarify its position on SEPP 65.
It follows confusion on the expected minimum size of Sydney apartments following a Land &amp; Environment Court judgement on a Botany residential development site.
That clarity could come from the government as early as next month.
"The amended policy (SEPP 65) will be released shortly and it will provide certainty about minimum apartment sizes," Stokes told The Australian Financial Review.
Clarity on SEPP 65, introduced in 2002, has been sought by the development industry.
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Small Sydney apartment rules to be clarified by new Planning Minister

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The Cooinoo Peninsula, Singleton Mills, on the Hawkesbury River at Wiseman Ferry in NSW has been listed for sale with an $8.5 million asking price.
The three separate properties (1549 Singleton Mills Road, 1552 Singleton Mills Road and 1553 Singleton Mills Road) represent an opportunity to purchase the entire Peninsula.
The riverfront property is 39 hectares and located on the outskirts of metropolitan Sydney. There are three vendors who had progressively decided to list, and for sale as one, or part therein.
<a href="https://kathrynhallrealestate.com.au/listings/?listings=Sale" target="_blank">Kathryn Hall at Kathryn Hall Real Estate</a> has the offering combining water frontage, agricultural land and bush-land.
It includes an award winning holiday retreat with views of the sandstone escarpment.
There is also a historic timber slab cottage at Singleton's Retreat. The cottage was built in 1865 on one of the first settled properties in this part of the Hawkesbury River. It was originally owned by James Singleton who, with his brother Benjamin Singleton, operated the biggest tidal mill from the 1830s onwards.
Singletons Mill supplied flour grown from the local area which was taken by sail ship to the colony at Sydney Cove.
All three properties have access to the waters edge with a variety of slipways.
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