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

Brickx

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BrickX has been acquired by Thundering Herd, a venture capital and private equity investment firm.

Markus Kahlbetzer's BridgeLane Capital Pty Ltd, which had provided funding for the acquisition of properties, is no longer a shareholder or related party of BrickX, the fractional property investment platform.

The venture capital outfits of National Australia Bank and Westpac have also cashed out of their investment in BrickX, along with Reinventure Group.

Thundering Herd are making plans to expand the current property portfolio across both residential and commercial markets. 

The platform has 19 properties, with its <a href="/news/wa/brickx-invest-in-first-perth-property">last purchase at Perth</a>, its first in WA, back in November 2018. 

Despite having stalled, the AFR reported BrickX was in the final stages of due diligence for more than 10 properties.

The BrickX acquisition adds to Thundering Herd's portfolio of investments in the property space.

The VC firm is the majority owner of debt syndication platform Lend Collective and the largest secured creditor of fractional property play DomaCom.

The BrickX platform, which was co-founded by Darren Patterson in 2014, will continue to function with no envisaged disruption.   Thundering Herd's recent investments include Lend Collective and GoFetch.

Thundering Herd's 2015 co-founder is the Melbourne based Joe Galvez, having worked for the likes of Deutsche Bank, Merrill Lynch, Morgan Stanley and Macquarie Group.

It is not known what price Thundering Herd paid for the business which saw the two big banks initially backed BrickX in late 2017 and early 2018, when they both took a stake in a $9 million Series A funding round.

BrickX has around 70,000 people signed up to the platform with just the 10,000 active investors.

Each property is divided into 10,000 bricks and the value fluctuates based on the market sentiment at the time. Investors receive rental income based on their share.

Allunga Advisory helped with the search for the new capital partner.

<h2>Recently listed properties:</h2>

[smartcode_project:default project_id=29358]

[smartcode_project:default project_id=22699]

[smartcode_project:default project_id=3298]
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jchancellor-FAypfDUnLy

BrickX sold to Thundering Herd by BridgeLane-led venture capital syndicate

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With auction clearance rates pointing to stronger real estate markets, property ownership disruptor BrickX could be looking to expand its portfolio of houses and flats, to allow more investors to buy its “bricks”.
BrickX is understood to be fielding investment options from a range of suitors interested in its concept of fractionalising property ownership. 
After just three months in the role BrickX’s CEO Kareene Koh has announced a permanent fee cut to the property investment service.
BrickX has slashed its fees on the purchase and sale of Bricks from 1.75 per cent to just 0.5 per cent. 
“Our vision is to make property accessible for all Australians by providing a simple way for our growing community to share in the Australian residential property market.” says Kareene.
In the last five years, BrickX has grown to over 13,500 members and touts 19 properties users can invest in. 
With the new reductions a member purchasing a Brick for $50 would only have to pay a fee of 25 cents.
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j.ballantyne1990-6AQqhLzZaK

BrickX permanently cuts fees by 70%

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Fractional property investment platform BrickX have entered the Perth market over the Christmas period.
They've paid $1.04 million for a renovated 1930s home at <a href="https://www.realestate.com.au/sold/property-house-wa-kensington-129759462" target="_blank">29 Campbell Street</a> in Kensington, a southern suburb of Perth.
Its purchase reflected a 3.5% rental yield.
They are yet to release the cost per brick, which is how investors value their share of the property.
Their first purchase in Perth was undertaken after consultation with its buying panel, which include CoreLogic's Tim Lawless and the REA Group's chief economist Nerida Conisbee. The buying team includes two buyers' agent.
<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/2019/2/4/Brickx-Perth2.jpg" alt="">
The three bedroom, two bathroom home on the leafy Campbell Street is currently seeking $700 a week tenants.
BrickX snapped up the character home just eight days in to its marketing.
It last traded for $216,000 in 1997.
Kensington's median house price value has increased 4.6% in the last five years. It now sits at $895,000, approaching its 2015 highs of $910,000.
It's now the fourth state BrickX invested in, with previous purchases in New South Wales, Victoria and South Australia.
Last year they bought their first property in Central Victoria, a home <a href="/news/brickx-buy-first-regional-property-at-soldiers-hill-ballarat">in Soldiers Hill</a>, quickly followed by <a href="/news/brickx-buy-again-near-ballarat-in-central-victoria">another in Ballarat</a>.
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jonathanchancellor-7SQnKwU6yx

BrickX invest in first Perth property

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Fractional property investment platform BrickX have continued their 2018 spending.
They've settled on a <a href="https://www.realestate.com.au/sold/property-house-sa-kingswood-128923126" target="_blank">1920s home in Kingswood</a>, a southern suburb of the Adelaide CBD near Mitcham Square.
It's the second property they've bought in South Australia having spent $825,100 on a St Peters home mid last year.
<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/2018/10/10/BrickX1.jpg" alt="">
The new $567,500 purchase has two bedrooms and one updated bathroom.
The character features of the 1920s have been retained, including high ceilings, polished timber floorboards and an open fireplace.
It has an outdoor entertaining area with verandah and pergola on its 301 square metre Arnold Street parcel.
<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/2018/10/10/brick3.jpg" alt="">
Bricks are being offered at $47 per brick.
A tenant has been secured at $400 a week, which reflects an annual net rental yield of just under 1.6%.
The home is set to bring in a total of $7,429 a year.
BrickX advise the historical suburb growth of Kingswood is 7.5% per annum.
Earlier this year BrickX bought a property in Soldiers Hill, their first in Central Victoria, quickly followed by another in Ballarat nearby, as well as an apartment in Darlinghurst. 
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jrobinson-rf4aSBido9

BrickX secure second Adelaide property

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Fractional investment platform BrickX have secured their second property in Ballarat in as many months.
They've secured a three bedroom Haverlock Street home which last traded for $200,000 in 2013. 
It's been extensively renovated since then and now features timber floored living and dining spaces and a new kitchen.
<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/2018/9/19/BRICKX2.jpg" alt="">
The front facade has been given a facelift and there's now a dedicated rear alfresco courtyard space on the 615 sqm block.
Recent street sales suggest the home could have fetched anywhere between $300,000 and $415,000, however more likely at the top end of the scale.
 <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/2018/9/19/brickx3.jpg" alt="">
BrickX have advised in their marketing for the Bricks that the Ballarat North region has seen an eight percent annual growth over the last 20 years.
It is being offered at $34 a Brick.
It's the <a href="/news/brickx-buy-first-regional-property-at-soldiers-hill-ballarat">second central Victoria property</a> BrickX have bought in as many months.
In August they announced their first, not far away in Soldiers Hill, another suburb of Ballarat.
They paid $401,000 for a two bed home on 410 sqm, with Bricks being offered at $33 per brick.
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BrickX buy again near Ballarat in Central Victoria

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Fractional property investment platform BrickX have bought their first regional property in Central Victoria.
They've spent $401,000 on a two bedroom home in Soldiers Hill, a small suburb of Ballarat.
BrickX suggest regional Victoria has been popular with first home buyers, families and investors who have been priced out of the Melbourne market in the last 12 months.
"Ballarat is particularly attractive due to its quieter lifestyle, picturesque town centre and proximity to Melbourne," BrickX advised. 
The last two bedroom home to sell on the street <a href="https://www.realestate.com.au/sold/property-house-vic-soldiers+hill-128297754" target="_blank">fetched $295,000</a>, while another <a href="https://www.realestate.com.au/sold/property-house-vic-soldiers+hill-126316626" target="_blank">two bedroom home</a> on the street sold for $275,000 late last year.
<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/2018/8/22/brickx3.jpg" alt="">
There's been over eight percent annual historic region growth over the last two decades.
The 418 sqm block of land sold for $200,000 in 2010 before the home was built.
BrickX are offering Bricks at $33 per Brick, their cheapest offering across their 16 properties.
The buyers agent Cate Bakos recently suggested recent capital growth run over the last four years had adversely impacted the median rental yield figures.
"The rising rents have not kept up with the rising house prices; and this is not unusual," adding state-based stamp duty concessions for first home buyers had played a part in the growth trajectory of Victoria's more affordable regional centers.
She noted Soldiers Hill was the favoured suburb for most Melburnian investors "who aspire to a Fitzroy styled suburb with turn of the century buildings, brick terraces and wide, tree-lined streets and the beautiful city center within short walking distance."
Soldiers Hill has enjoyed a reported 8.2% average annual capital growth of late and the popularity of postcode 3350 continues to attract newcomers to the area.
The underlying growth prospects for Ballarat as a city relates to job growth, increased employer options, new government contracts and easier commutes to Melbourne, Bakos suggests.
Rail upgrades that have enabled faster train travel, increased services and the continued introduction of government de-centralised services have enabled Ballarat to become a stand-out option for first home buyers, upgraders, downsizers and local buyers.
It's the second Brickx purchase this year after the innovative platform spent $639,000 on a <a href="/news/brickx-buys-its-15th-fractional-ownership-property-in-darlinghurst">one bedroom apartment in Darlinghurst.</a>
BrickX went on a buying spree last year, securing six properties.
They started with a $1.3 million <a href="/news/brickx-offers-95-brick-for-townhouse-in-sydneys-surry-hills">Surry Hills townhouse</a>, before buying an $885,000 <a href="/expert-insights/investing/brickx-on-buying-spree-unveil-one-bed-potts-point-unit-at-66-a-brick">Potts Point one bedder</a> and $1.11 million <a href="/news/brickx-to-offer-manly-apartment-for-87-a-brick">two bedroom apartment in Manly</a>.
They then bought their second Melbourne property, a <a href="/news/brickx-launches-terrace-home-in-melbourne-s-brunswick-west-at-99-per-brick">$1.19 million, three bedroom house</a> in Brunswick.
A $1.83 million <a href="/news/brickx-to-offer-balmain-house-to-investors-for-140-per-brick">Balmain East home</a> followed, before Brickx ventured in to Adelaide for the first time, securing a <a href="/expert-insights/investing/brickx-set-to-offer-adelaide-house-to-investors-at-74-a-brick">two bedroom St Peters home</a> for $825,100.
When entering the Adelaide market, CEO Anthony Millet said he wanted to offer investors diversity and an alternative to the Sydney and Melbourne property markets. 
 
 
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BrickX buy first regional property at Soldiers Hill, Ballarat

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Fractional property investment platform BrickX have announced their first property of 2018, an apartment in Darlinghurst. It is now their 15th property in total.
BrickX paid $639,000 for the one bedroom unit on the tree-lined Royston Street. They are offering Bricks at $69.
It was advertised by Ray White Elizabeth Bay selling agents Ian Campbell and Nick Thompson as an attractive affordable first home.
<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/2018/4/4/brick2.jpg" alt="">
Last traded for $360,000 in 2011, the top floor apartment on level three is set in the corner of the Art Deco building.
There is a separate kitchen, bedroom and ensuite.
Last year in the block there were two sales of one bedroom units. One sold for $635,000, the other $656,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/4/brickx1.jpg" alt="">
BrickX are suggesting there is a strong net rental yield of 2.5%.
They say over 60% of Darlinghurst residents are renters.
CoreLogic figures show house prices in Darlinghurst have increased by 7% per annum over the past 20 years.
Tim Lawless, CoreLogic Head of Research and member of the BRICKX adviser panel, said the return is better than average.
“The past two decades has seen Darlinghurst unit values rise at the annual rate of 6.6% per annum which is higher than the Greater Sydney average.
“With solid labour market conditions low mortgage rates and overseas migration rates continuing to boom across New South Wales, inner fringe apartment markets where new supply is constrained are likely to continue outperforming the broader market.”
BrickX have just announced they have reached 10,000 members, with over $17 million transacted on the platform since its launch.
The first four properties since the launch have returned an annualised return of seven percent.
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BrickX buys its 15th fractional ownership property in Darlinghurst

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Fractional property investment platform BrickX have announced that NAB Ventures, National Australia Bank’s corporate venture capital arm, has invested in the startup.
The deal is part of a $9 million Series A funding round.
BrickX allows Australians to invest in residential property by buying 'Bricks' in a BrickX property.
The platform means people can invest in residential property for a few hundred dollars.
NAB Ventures – which supports businesses and entrepreneurs in their quest to build leading technology companies – saw the investment potential in democratising property ownership in the Australian market.
The value of BRICKX in providing Aussies with a financial stepping stone to achieve the Australia Dream of home ownership was another driver for investment. 
BrickX CEO Anthony Millet said BrickX is expanding rapidly.
“Housing affordability continues to be a priority for Australia’s banks, so the alignment between BRICKX and NAB Ventures has a strong and unified purpose.
“The prohibitive costs and high deposits needed to gain access to the property market, has left many out in the cold. However, BRICKX has opened up the residential property asset class as an alternative investment to any of the traditional investment options. 
“Considering the recent volatility in the cryptocurrency and stock markets, Australians are recognising the longer-term stability of property prices.” 
Todd Forest, Managing Director of NAB Ventures, said he was excited to invest in BRICKX and help support a new way of approaching property ownership. 
“The aspiration for property ownership has long been the Australian dream, however buying a property often has challenges for many consumers – such as the rise in house prices in some areas and trying to save for a deposit. 
“BRICKX is disrupting this journey, in how it provides consumers with access to the property market and engages with them in creating a pathway to property ownership.
“NAB Ventures chose BRICKX as the leading opportunity, based on its unique business model, exceptional user experience and the opportunity to leverage the platform to innovate and help more Australians with their home ownership goals.” 
Founded in 2014, BRICKX launched to retail investors in September 2016 and has grown to offer 14 properties across Sydney, Melbourne and Adelaide along with more than 9,000 members.
They have properties in Sydney's Mosman, Manly, Potts Point, Darlinghurst and Bondi Beach, as well as a terrace home in Melbourne's Brunswick and a stone fronted villa in South Adelaide.
The NAB Ventures investment in the 'Series A' funding round for BRICKX follows on from Westpac’s Reinventure investment in late 2017.
Since the Reinventure investment, the number of BRICKX members has grown by nearly 25%. 

 
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NAB banks on property tech disruptor BRICKX to rebuild hope in the Australian Dream

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BrickX, the fractional property investing platform, is seeing discounted prices available on the ‘brick’ valuations on many of its properties.
Discounts on official valuations were available on eight of its property offerings.
BrickX divides each property it acquires into 10,000 units it calls ‘Bricks’ and offers them to investors. 
The largest discount per brick was for a two-bedroom unit at <a href="https://www.brickx.com/properties/DBB01/summary" target="_blank">7/22 Ocean Avenue</a> (picture above) in Sydney’s Double Bay. The discount is 2.5 percent for a brick priced at $96. 
The discount is measured as a percentage of the official ‘brick’ valuation price. In this case, the brick valuation price is $98.46. 
Another two-bedroom unit, this one at Manly’s 4/8 James Street, has its bricks discounted by 2.3 percent. The lowest available brick is priced at $85 now.
In Bondi Beach, the discount on a brick for a two-bedroom unit at 2/5 Ramsgate Avenue is 2.19 percent. The lowest brick is priced at $98.
In Sydney’s Mosman, there is a discount of 1.69 percent on each brick of $141 for a two-bedroom unit at 18/5 Parriwi Road.
In Sydney’s inner suburb of Surry Hills, a two-bedroom unit has its bricks being offered at a discount of 1.05 percent at $94 per brick.
Another Melbourne property, at three-bedroom house at 10 Shamrock Street in Brunswick West, has its bricks discounted by 1.01 percent at $98 per brick.
A house in Sydney's Annandale at 109 Albion Street has its lowest priced 'brick' being offered at a discount of 0.74 percent to the 'brick' valuation. The lowest brick price is $112. 
Another house, this one a three-bedder at 24 Clayton Street in Sydney’s waterside suburb of Balmain, has bricks being offered at a 0.71 percent discount at $139 each.
The same discount of 0.71 percent is being offered for a two-bedroom unit at 4/6 Miller Street in  Melbourne’s Prahran. The price for the lowest available brick is $123.
Not all properties held by BrickX have discounts though.
Property Observer counted five properties where bricks are being sold at a premium. One at Enmore is trading at an eight percent premium to valuation. There also are properties in Adelaide’s St Peters, Port Melbourne, and in Sydney’s Potts Point and Darlinghurst at a premium.
At last count, BrickX had 8,256 active members while its properties had a total value of $16.87 million.
During the release of its six-monthly valuations in July, BrickX said the Annandale house rose in value by 7.4 per cent in the last six months, the most for any of its acquisitions. 
<div>Investors are in control of selecting the price at which they wish to sell their Bricks, its CEO Anthony Millet recently advised.</div>
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<div>"Whilst property is generally a medium to long term investment, the opportunity to put your Bricks up for sale does give a lot of flexibility to the investor in exiting should their investment strategy or personal circumstances change. </div>
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<div>"At any point in time we have a number of sellers who are selling their bricks (as is to be expected with any investment, shares, or pulling money out of a savings account etc) which also provides liquidity opportunities for buyers to enter existing investments."</div>
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<div>He said the majority of these transactions occurs within a +/- 2% premium or discount to the last valuation (last conducted in July 2017).</div>
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<div>"To date the median time it has taken someone to sell their position has been circa 14 hours - which is pretty amazing when you consider how long it takes to sell an entire property.</div>
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<div>"In addition, customers are only paying a 1.75% transaction fee when they sell, which considered against the cost of selling a property can often be 4%+ (when you take into account agent fees, lack of rent/voids periods, remedial work) this compares very favourably to the traditional way of dealing in property.</div>
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<div>"New and existing investors also see Brickx listed for sale at a discount to the last valuation as a good opportunity to enter the property market or add to their position and build their portfolios.</div>
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<div>"As at now, Bricks listed for sale at discounts relate to 0.6% of the total value of the BRICKX portfolio, so are relatively thin in volume," he said last week.</div>
 
 
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Discounted BrickXs on offer - but in thin volume 

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Westpac Banking Corp's venture capital fund Reinventure Group has invested in the fractional property ownership platform Brickx.
Reinventure have not disclosed the amount of the fund's investment.
The deal is reportedly the 17th investment by Reinventure Group, which has received $100 million of funding from Westpac. 
Reinventure is also backing other property related startups including openagent.com.au and Nabo, a free social media platform that enables individuals and community organisations to instantly and directly connect online with others in their suburb.
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Danny Gilligan, co-founder of Reinventure, says it was attracted to Brickx as the site was looking holistically at the property financing, buying and living experience on one platform. 
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Around half of the 7600 investors on the Brickx platform are under the age of 35.
Some three-quarters of them have never had any exposure to residential property.
The platform allows investors to purchase "bricks", or part-ownership rights that allow their owners to access capital gains on the property and receive rental income.
The bricks can be sold on the platform.
Each of the current 14 properties are split into 10,000 bricks. 
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<div class="cq-article-content-media section">Brickx CEO Anthony Millet told Fairfax Media that many investors have been buying "bricks" as an alternative to bank deposit.</div>
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<div class="cq-article-content-media section">He said banks were interested in Brickx because it could provide self-managed superannuation funds (SMSFs) with exposure to property without them having to buy an entire property and manage it.</div>
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The platform may potentially be used to create an alternative to a reverse mortgage, freeing up home equity for retirees able to bring their existing property onto the platform.
 
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