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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The Baird NSW state government has been forced to tighten vegetation clearing rules in fire-prone areas.
Within four months of their introduction, NSW parliamentarians had been inundated with complaints about unnecessary culling of trees, with a campaign headlined by 2GB's gardening clinic broadcaster, Graham Ross.
Residents using the new 10/50 rule had been cutting down trees to improve their view or allow further development.
The laws introduced on 1 August allowed residents whose homes were in designated bushfire-prone areas to clear trees within 10 metres, and shrubs and vegetation within 50 metres of houses.
Residents will now be only permitted to clear trees within 30 metres and vegetation to 100 metres.
The NSW Rural Fire Service has been asked to further review the 10/50 Vegetation Clearing Entitlement policy with the Department of Planning and Environment.
The 10/50 code allowed the clearing of trees without council permission.
Heritage-listed trees in Blue Mountains villages have been felled.
Councils are concerned the 10/50 rule overrides the Threatened Species Conservation Act and tree preservation orders.
Some 20 rural and metropolitan councils had lodged submissions with the Rural Fire Service protesting environmental damage being done under cover of the new rule.
After a public outcry, the RFS agreed to review the laws, then receiving more than 1200 submissions. But with no moratorium on the laws until the review had finished, a protest outside Premier Mike Baird's office early last month secured the revised 30/100 rule.
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jchancellor-FAypfDUnLy

Tree felling NSW bushfire district laws tightened for property owners

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Police have warned would-be renters in the Lake Macquarie area of scammers copying genuine rental advertisements.
After finding rental listings on legitimate sites, the scammers reportedly copy the information and post it to a community and classifieds site.
Interested renters make contact, but are then told they must pay rent up-front before getting access to the property. The scammers cease contact as soon as the money is handed over.
According to NSW Police, there are a few common warning signs for this type of fraud.
They include landlords who mention money transfer services like Western Union or MoneyGram or claims the landlord is uncontactable or lives overseas. Scammers may also claim the renters aren't allowed to visit the property before delivering the money, or put the renter under a lot of pressure to pay the money.
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jrichardson-uRX5hFdKfN

Scam alert: Lake Macquarie renters warned

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New home building in NSW is tipped to top the 50,000 in 2015, according to a report from the Housing Industry Association (HIA).
The predictions, in the spring 2014 edition of the HIA’s New South Wales Outlook, come off the back of a strong 2014, where dwelling commencements are expected to have increased by 9.5%, following a 31.7% rise in 2013. The HIA says a further growth of 4.5% is expected in 2015, bringing commencements up to 50,800.
“We have been pleasantly surprised by the performance of new home building in NSW, with activity on track to exceed initial expectation over the next 12 months,” said HIA executive director, NSW, David Bare.
“NSW’s $7.9 billion home renovations market is likely to reap the rewards of robust dwelling price growth and record low interest rates.
“Activity on this side of the market has fallen steadily over the past decade but the recovery currently underway is likely to lift activity by a cumulative 25 percent or so.”
Home renovations in the state are also expected to increase in 2014 and 2015 by 8% and 3.9%, respectively. In two years the HIA believes home renovation to reach $8.43 billion.
Bare says that despite the improved levels of new home building, the NSW government still needs to open up more land for residential use and create a simpler planning regime. 
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owisniewski-RiYLqnXfKH

NSW tipped to top 50,000 new home starts in 2015

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The high-end, five suite Sangoma boutique resort in the Blue Mountains has been sold to the Turner family headed by Graham Turner, the boss of Flight Centre.
No price was disclosed but it is understood that the sale price would reflect $1 million plus per suite, being a record for retreat/resort style properties in the country, according to the Sydney Morning Herald.
It sold through Paul Kapiris from CBRE Hotels. 
Sangoma Retreat which spans 10 acres of bushland at Bowen Mountain, has room rates of over $1,100 a night.
The private $70 million plus Spicers Group portfolio includes the Victoria Court Hotel in Potts Point and Spicers Vineyards Estate in the Hunter Valley. The group now owns nine high end boutique assets, with six in Queensland.
Turner and his wife, Jude, have said they are focussed on the niche weekend retreat and smaller hotel market.
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Graham Turner adds Blue Mountains Sangoma resort into Spicers Group

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Proposed changes to NSW's planning system are a step in the right direction, but there is still more to be done, according to the Urban Taskforce.
Urban Taskforce CEO Chris Johnson says: “Far more (improvement) is needed across the whole planning system.”
Johnson believes there are three major changes that can ideally improve the system.
“Firstly we need to have a much simpler planning system.
“Secondly we need to get rid of the street by street battles that are occurring in NSW by having code accessible projects. There is not nearly enough code accessible projects in NSW compared to Victoria and Queensland.
“The third thing is a revision of how approvals are occurring in NSW. There are 43 small councils in Sydney which think in very local ways and therefore are not supportive of change and new development.”
Johnson also said compared to other states, the NSW planning system is falling behind in promoting growth and dwelling approvals may be affected, with fears of the current high ratings declining.
“I detect that the planning systems in Queensland and Victoria are more supportive of growth but in NSW they are somewhat anti growth,” he said.
“While NSW is currently doing well in terms of dwelling approvals, this may not continue unless the planning system is made simpler.”
In the September 2014 quarter NSW approval ratings were down 6.7% on last year, according to ABS Building Approvals.
Pru Goward, NSW Minister of Planning believes these projects currently take too long to process.
“It is unreasonable for communities and industry to wait years for projects to be determined...we expect councils to assess development applications without delay, so we (the government) should hold ourselves to the same standards,” Goward said.
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Three changes that could improve NSW's planning system: Urban Taskforce

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Home owners won't lose protections and rights when new home building reforms come in, NSW Fair Trading Minister Matthew Mason-Cox has claimed.
His reassurance comes after a recent court decision in favour of Brookfield Multiplex in a case regarding commercial property. The High Court's ruled that Brookfield Mutliplex was not liable for alleged building defects in a commercial development was a complex and technical decision,
According to Mason-Cox, the owners corporation deemed not vulnerable in legal terms, with no duty of care from Brookfield Multiplex to a commercial property owners corporation.
"I have obtained legal advice from the Crown Solicitor's Office that confirms the decision does not affect the consumer protections offered by the state's home building legislation,'' Mason-Cox said.
"This case refers to the law of negligence and involved a commercial development.
"The case does not affect the separate NSW statutory scheme of a residential development.
"Consumers continue to enjoy all the protections afforded to them by home building laws, including the statutory warranty scheme. Any suggestions to the contrary are simply false.''
A number of reforms relating to home owner rights have been passed in the Home Building Amendment Act 2014.
Some claim the reforms will <a href="/expert-insights/investing/nsw-home-owners-dodgy-construction-claims-curbed-by-government">degrade consumers' rights</a> when their building is found to be defective, with a government-granted six-year warranty for "structural defects" now applicable only for "major defects".
However, Mason-Cox says the amendments "provide significant protection for consumers and offer clarity about rights and responsibilities of builder's liabilities, particularly in relation to defects".
"The Home Building Amendment Act 2014 was passed by Parliament in May and is expected to start in mid-January," said Mason-Cox.
"Under the new Act, if a strata scheme discovers a major defect up to six years after the building has been built, then they can pursue their builder under the statutory warranties in the Act to rectify that defect.
"In particular, our reforms ensure that all home owners continue to have the benefit of a six year warranty for major defects and two years for minor defects."
Fire safety and waterproofing will be considered "major elements" of a building under the changes.
"By clarifying the nature of major defects, this key reform will save owners, and owners corporations, tens of thousands of dollars in legal costs incurred in protracted litigation," claimed Mason-Cox.
"We are also introducing changes to the licensing system, making it harder for unscrupulous builders to illegally 'phoenix', which is where a failed company starts up under a new or similar name to avoid scrutiny by consumers or NSW Fair Trading."
Individuals who were once involved in companies closed by their directors to avoid their obligations will now risk having their licence applications denied or their licenses revoked.
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Home owner rights still strong, despite building reforms: NSW Fair Trading

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The emergence of markets in regional New South Wales ranks among the most noteworthy features of Australian real estate in 2014.
Partly for local reasons and partly through the ripple effect from Sydney’s buoyant market, there are growing numbers of regional NSW cities and towns with growth property markets.
This started earlier in the year in locations close to Sydney, including Gosford, Newcastle, the Blue Mountains and Wollongong.
The research conducted for the latest edition of The Price Predictor Index, which charts sales activity for every suburb and town across Australia, shows that more distant markets are now stirring to life. They include <a href="/news">Tamworth</a>, <a href="/news">Port Macquarie</a>, <a href="/news">Albury</a>, <a href="/news">Orange </a>and <a href="/news">Dubbo</a>.
Some are locations which have been dismal performers on capital growth over the past 10 years, but are now recording significant upturns in market activity, with prices starting to follow. Port Macquarie and Gosford are examples.
One of the strongest pockets of regional NSW growth is the Central Coast area focused on the Gosford and Wyong LGAs. They were among the first to rise and they continue to be strong precincts.
16 of the suburbs in the Gosford LGA are ranked markets - rated in the index as either ‘rising fast’, ‘rising steadily’ or ‘consistency’ markets. As one example, sales in <a href="/news">East Gosford</a> have risen from 29 to 36 to 55 in consecutive quarters this year.
The Wyong LGA has 15 ranked suburbs, including eight rated as ‘rising steadily’ and seven as ‘consistency’ markets.
The wider Newcastle area continues to deliver growth markets and others marked by admirable consistency. The LGAs of Newcastle, Lake Macquarie and <a href="/news">Port Stephens</a> all have ranked suburbs, including 11 in the Newcastle municipality.
There are also glimmers of life in some of the nearby Hunter Valley areas, which have been suppressed over the past two years by developer oversupply and a reduction in coal-related demand. The Maitland LGA in particular appears to be mounting a revival.
Further north, the Coffs Harbour, Port Macquarie, Ballina and Tweed municipalities all have emerging markets.
House sales in Port Macquarie have risen from 200-220 per quarter in 2012-13 to 300-plus in 2013-14. In <a href="/news">Ballina</a>, sales in the past six consecutive quarters have been 18, 36, 42, 45, 43 and 51 – this is the kind of pattern that delivers price growth.
The Blue Mountains area is demonstrating the resilience in the face of natural disasters which is a characteristic of Australia. Devastated by bushfires a year ago, the region has bounced back strongly. <a href="/news">Blackheath</a>, <a href="/news">Katoomba </a>and <a href="/news">Lithgow </a>are among the growth markets in that region.
South of Sydney, the Wollongong and Shoalhaven area have numerous strong markets.
Inland regional centres with growth prospects include <a href="/news">Dubbo</a>, Albury, <a href="/news">Bathurst</a>, Orange, <a href="/news">Tamworth </a>and <a href="/news">Goulburn</a>.
In Goulburn, near Canberra, quarterly sales have risen from 116 to 120 to 134 to 155 since late last year.
The key thing to note is that it takes time before this kind of upturn in sales activity translates into price escalation. The locations which were first to spring to life, such as the suburbs of the Gosford LGA, have already had strong prices growth. Many of these suburbs have recorded median price growth above 12% in the past 12 months.
But most of the regional centres I’ve mentioned, the ones that have only recently lifted sales activity, are yet to record major price growth.
Places like Goulburn, Port Macquarie, Bathurst and Orange have recorded growth below 5% to date. Given the pattern of sales activity, more price growth is likely to follow.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Gosford, Newcastle and Port Macquarie among NSW's top emerging regional markets

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New South Wales home owners' rights to claim compensation for structural defects in their home will be reduced after legislative changes that will soon take effect.
Currently, the NSW government grants a six-year warranty for "structural defects" made by developers or builders. The warranty now only covers "major defects", which the government defines as those that cause "the inability to inhabit or use the building (or part of the building) for its intended purpose," or "the destruction of the building or any part of the building" or "a threat of collapse" of the building or any of its parts.
Some speculate that the downgraded scope of the warranty will result in only a two year warranty being granted for many defects which were previously covered for six years.
According to David Bannerman of Bannerman Lawyers, the changes will mean home owners will no longer be compensated for issues such as external cracking, reducing costs for the government.
"The relief to the Government coffers should be immediate, because it has taken the extraordinary step of making many of the amendments, including the change from 'structural' to 'major' defects, retrospective," claimed Bannerman.
The changes introduced in the Home Building Amendment Act 2014 are likely to come into effect on 1 December.
For home owners who wish to make claims for building defects made within the past six years, Bannerman advised they take the following action before 1 December:
<ol>
<li>Commence legal proceedings against the builder or developer responsible for their home, where there is an available action for breach of the warranties (i.e. building defects), or</li>
<li>Where the circumstances and policy terms allow, lodge a claim with the home owner's warranty insurer.</li>
</ol>
Source: Bannerman Lawyers
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NSW home owners' dodgy construction claims curbed by government

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If there’s one thing every property investor should know it’s that cheap does not always equal good value; properties and areas are often cheap for a reason.

Previously, we looked at <a href="/expert-insights/buying/the-40-cheapest-property-markets-are-they-really-a-good-place-to-buy">the 40 cheapest property markets across the country</a>, according to RP Data. We warned that median prices in themselves are of limited usefulness. Be sure to <a href="/expert-insights/investing/how-to-determine-the-median-house-price">understand how this figure is put together</a> before reading median price lists like that in this article. Data like this can be very useful to those who know what they’re looking at. But if you misunderstand what the data is saying, then you can come to some very ill informed conclusions.

A quick gaze over this list proves that some areas may be worth further exploration – offering high rental yields along with their low entry points. However, as Property Observer has regularly <a href="/news/qld/can-you-really-get-a-double-digit-rental-return-in-queenslands-mount-morgan">explored in the past with cheapie suburbs and double digit yield promises</a>, these on-paper figures do not always stack up in real life.

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Some areas also appear to be recording strong dips in their median house prices. This may suggest the areas are in decline, but it may also suggest that the recorded median price is actually lower than the price you will need to put down to secure what you are after in the suburb.

Of the 22 New South Wales suburbs with a sub-$200,000 median price, according to RP Data, over the past three months 17 recorded a decline, no change or an “N/A” result.

A proportion of these areas have limited numbers of sales that their statistics are based on, which is why we have included that figure in brackets after each one. That can mean their prices are quickly skewed due to a few cheaper properties selling.

Six on the list, or more than 25%, recorded fewer than 25 sales, while half of the list (including these areas) recorded fewer than 50 sales. This may call into doubt the veracity of the statistics, or at the very least mean you need to look a little closer.

Our cheapest on the list is <a href="/news">Coonamble</a>, with a median price of $112,000. Taking this area on its own sheds some interesting light on why you can’t buy blindly on selected statistics. Situated 575 kilometres north-west of Sydney, the area had fewer than 3,000 people as of the 2011 Census.

An 860 square metre block of land in the area<a href="https://www.realestate.com.au/property-residential+land-nsw-coonamble-201013843" target="_blank"> is currently available for $11,000</a>, “following a fire which raged through the weatherboard home on this block.” It is within a “couple of minutes walk to the main street.”

However, Coonamble Mayor and local business owner Allen Karanouh believes there is strength for investors and home buyers in the area. <a href="https://www.youtube.com/watch?v=YaYqsqEYsFk" target="_blank">He recently starred in a video series</a> with Ray White Coonamble’s Don Schieb that has been advertised as a listing, sharing the opportunities for those wanting to do a change to a rural lifestyle.

“It has been one of the best performing towns in Australia, for instance in real estate in maintaining a very steady increase in prices, great return on investment and we don’t see many shops closing down,” says Karanouh.

{qtube vid:=YaYqsqEYsFk}

Schieb <a href="https://www.youtube.com/watch?v=CXI0HSi7KBE" target="_blank">explains in the series</a> that investors can buy a house for $60,000 or $70,000 and get $7,000 a year for it in rent – around a 10% return.

“Most of the investors are from Sydney. They look at properties on the internet and quite a number of these places have been sold without inspection,” he says.

He does mention there has been some pain for the region with an abattoir shut in 2001, losing 40 jobs. However, there have been renovations and it’s expected to open again this year.

{qtube vid:=CXI0HSi7KBE}

Each of these areas is substantially different from the next.

Picture of Coonamble main street courtesy of <a href="https://commons.wikimedia.org/wiki/User:Cgoodwin" target="_blank" title="User:Cgoodwin">C. Goodwin</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.

See over page for the full list of areas. Please click below.

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Click on the suburb name to go a more in-depth suburb data page.

<ul>
<li><a href="/news">Adelong</a></li>
</ul>
$187,000

Three month growth: -10.10%

12 month growth: 3.89%

Average annual growth: 6.99%

Gross rental yield: 5.56%

(Based on 17 sold)

 

<ul>
<li><a href="/news">Batlow</a></li>
</ul>
$122,000

Three month growth: -0.71%

12 month growth: -24.46%

Average annual growth: 5.27%

Gross rental yield: 7.46%

(Based on 29 sold)

 

<ul>
<li><a href="/news">Berrigan</a></li>
</ul>
$147,000

Three month growth: -18.19%

12 month growth: -1.83%

Average annual growth: 11.43%

Gross rental yield: 6.09%

(Based on 12 sold)

 

<ul>
<li><a href="/news">Broken Hill</a></li>
</ul>
$119,000

Three month growth: -0.83%

12 month growth: 0.00%

Average annual growth: 8.87%

Gross rental yield: 9.94%

(Based on 316 sold)

 

<ul>
<li><a href="/news">Coonamble</a></li>
</ul>
$112,000

Three month growth: 0.00%

12 month growth: -2.61%

Average annual growth: 6.22%

Gross rental yield: 9.29%

(Based on 72 sold)

 

<ul>
<li><a href="/news">Cowra</a></li>
</ul>
$185,000

Three month growth: 2.21%

12 month growth: -1.33%

Average annual growth: 2.05%

Gross rental yield: 6.46%

(Based on 209 sold)

 

<ul>
<li><a href="/news">Culcairn</a></li>
</ul>
$160,000

Three month growth: N/A

12 month growth: 18.52%

Average annual growth: 3.40%

Gross rental yield: 7.15%

(Based on 30 sold)

 

<ul>
<li><a href="/news">Deniliquin</a></li>
</ul>
$175,000

Three month growth: 0.00%

12 month growth: 0.14%

Average annual growth: 3.01%

Gross rental yield: 6.54%

(Based on 151 sold)

 

<ul>
<li><a href="/news">Finley</a></li>
</ul>
$132,000

Three month growth: -10.68%

12 month growth: -6.56%

Average annual growth: 4.31%

Gross rental yield: 7.50%

(Based on 63 sold)

 

<ul>
<li><a href="/news">Glen Innes</a></li>
</ul>
$178,000

Three month growth: -4.05%

12 month growth: -4.05%

Average annual growth: 5.48%

Gross rental yield: 6.74%

(Based on 101 sold)

 

<ul>
<li><a href="/news">Gundagai</a></li>
</ul>
$190,000

Three month growth: -3.80%

12 month growth: 5.56%

Average annual growth: 3.31%

Gross rental yield: 5.47%

(Based on 14 sold)

 

<ul>
<li><a href="/news">Hay</a></li>
</ul>
$149,000

Three month growth: 16.02%

12 month growth: N/A

Average annual growth: 7.11%

Gross rental yield: 5.78%

(Based on 68 sold)

 

<ul>
<li><a href="/news">Henty</a></li>
</ul>
$130,000

Three month growth: -7.14%

12 month growth: -15.58%

Average annual growth: 4.24%

Gross rental yield: 8.00%

(Based on 24 sold)

 

<ul>
<li><a href="/news">Kandos</a></li>
</ul>
$154,000

Three month growth: -4.04%

12 month growth: 4.58%

Average annual growth: 6.47%

Gross rental yield: 6.74%

(Based on 33 sold)

 

<ul>
<li><a href="/news">Kempsey</a></li>
</ul>
$153,000

Three month growth: N/A

12 month growth: N/A

Average annual growth: N/A

Gross rental yield: 8.52%

(Based on 10 sold)

 

<ul>
<li><a href="/news">Lockhart</a></li>
</ul>
$130,000

Three month growth: -7.14%

12 month growth: -16.38%

Average annual growth: 1.66%

Gross rental yield: 7.30%

(Based on 17 sold)

 

<ul>
<li><a href="/news">Manilla</a></li>
</ul>
$195,000

Three month growth: 11.43%

12 month growth: 21.88%

Average annual growth: 7.46%

Gross rental yield: 7.47%

(Based on 68 sold)

 

<ul>
<li><a href="/news">Murrurundi</a></li>
</ul>
$180,000

Three month growth: -18.18%

12 month growth: -18.18%

Average annual growth: 8.43%

Gross rental yield: 7.80%

(Based on 30 sold)

 

<ul>
<li><a href="/news">South Grafton</a></li>
</ul>
$195,000

Three month growth: -2.99%

12 month growth: -4.88%

Average annual growth: 2.85%

Gross rental yield: 7.07%

(Based on 130 sold)

 

<ul>
<li><a href="/news">Tumbarumba</a></li>
</ul>
$171,000

Three month growth: 1.49%

12 month growth: -7.84%

Average annual growth: 6.51%

Gross rental yield: 5.72%

(Based on 33 sold)

 

<ul>
<li><a href="/news">Wellington</a></li>
</ul>
$120,000

Three month growth: -7.69%

12 month growth: -11.11%

Average annual growth: 3.36%

Gross rental yield: 8.67%

(Based on 100 sold)

 

<ul>
<li><a href="/news">Werris Creek</a></li>
</ul>
$130,000

Three month growth: -6.47%

12 month growth: -1.89%

Average annual growth: 7.26%

Gross rental yield: 8.00%

(Based on 112 sold)
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jduke-EHk3XBmHkn

Should you buy a New South Wales cheapie? 22 suburbs under $200,000

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Sydney should take a more regional approach to planning, according to the Urban Taskforce’s CEO Chris Johnson, who says that the capital should learn from the Hunter and Illawarra’s models.
With a recent announcement by NSW Minister for Local Government Paul Toole relating to five joint organisation pilots, Johnson has expressed their support of the approach, which will see the many individual councils in Sydney centralised.
“The two urban groups of the Hunter and the Illawarra can demonstrate a successful model that could be applied to Sydney councils if amalgamations do not occur in all areas,” said Johnson.
The current Hunter model is for 11 councils to share services, which Johnson notes is a good beginning, but the big issue of a single ‘centre of excellence for planning’ needs to be part of the pilot.
“A central planning office can develop specialist skills in strategic planning, assessments and infrastructure planning while increasing career prospects for young planners. The planners will also take a more independent position in the assessment of projects,” he said
Johnson said that the future of urban areas must be a partnership between the local government and the private sector development industry.
“It is encouraging to see that the Minister for Local Government has identified planning as a key community priority that cuts across traditional local government boundaries along with jobs and infrastructure.”
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