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

Commercial News

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The most active segment of construction in the June 2017 quarter was civil engineering, with 1,020 projects entering construction at a value of $8.9 billion over the period. 
This also reflects government owned projects, particularly in transport infrastructure, the latest Market Movement report by Cordell noted.
In the private sector, renewable energy project applications and commencements have also led in the civil engineering space. 
<a href="https://www.propertyobserver.com.au/images/2017/10/26/ConstructionOverview.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/26/ConstructionOverview.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/26/CivilEngg.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/26/CivilEngg.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/26/ConstbyVal.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/26/ConstbyVal.png" alt="">
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Cordell charts civil engineering as highly active

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With a loan tally of more than $520 million, George Giovas of Axius Partners has been named Australia’s top commercial broker for 2017 in MPA’s Top 10 Commercial Brokers Report, sponsored by Westpac.
The Sydney-based Giovas wrote 15 loans totalling $520,345,00 over the 2016-17 financial year, a record for an individual commercial broker. 
Giovas, who found Axius Partners in 2011, says it is an “old-fashioned merchant bank”, split between funds management and advice and broking. 
It specialises in development finance, including apartments and hotels.
Previously, Giovas was ANZ’s global head of property, managing more than 150 people and a $40 billion balance sheet. 
The Top 10 list was dominated by brokers specialising in development finance.
The top brokers all noted that banks are reducing their appetite for development finance owing to pressure from the Australian Prudential Regulation Authority.
The watchdog has asked banks to reduce their exposure to residential developments through tougher conditions and reluctance to lend to inexperienced developers, but this has resulted in more non-bank lending.
The second place went to Ben Wardley of Right Angle Group while Kevin Wheatley of Bayside Residential &amp; Commercial mortgages was third.
Both Right Angle Group and Bayside Residential &amp; Commercial are in the development finance industry in Brisbane and Sydney respectively.
2017's Top 10 Commercial Brokers: 
<ol>
<li>George Giovas,    Axius Partners Pty Limited, $520,345,000 </li>
<li>Ben Wardley,    Right Angle Group, $201,326,183 </li>
<li>Kevin Wheatley, Bayside Residential and Commercial Mortgages, $198,682,654 </li>
<li>Marwan Rahme, Kanebridge, $147,692,010 </li>
<li>Jamie Giles, Astute Financial – Springhill, $125,034,502 </li>
<li>Jason Arnold, Quattro Finance &amp; Advisory, $118,615,199 </li>
<li>Daniel Green, Green Finance Group, $100,026,764 </li>
<li>Mark Churchill, Allfin Financial Services Pty Ltd, $99,559,979 </li>
<li>Danny Luu, Pagoda Finance, $91,666,508 </li>
<li>Glen Barnes, Barnes Finance Solutions Pty Ltd, $91,559,000</li>
</ol>
The list includes business lending brokers Jamie Giles of AstuteFinancial, Daniel Green of Green Finance, Mark Churchill of Allfin Finance and Glen Barnes of Barnes Finance Solutions.  
 
 
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jonathanchancellor-7SQnKwU6yx

Australia’s top commercial broker writes 15 loans totalling $520,345,000

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Brisbane is approaching the peak of the retail market cycle, according to valuation firm Herron Todd White's recent property clock.
The clock is a simple broad brush means to suggest where property markets are as at February 2016 - and what direction prices are moving in, with an accompanying analysis.
Neighbourhood and convenience grade shopping centres were the flavour in Brisbane in calendar year 2015, with a large volume of transactions.
The high levels of demand and active market was seen across all market sectors, and has seen investment yields compress by up to 100 basis points over the course of the year, a significant shift in such a short time period, says the HTW report.
Among the neighbourhood centres, there were a number of transactions involving newly developed supermarket-based centres in growth areas.
Convenience centres are also in strong demand and many such properties in the inner ring suburbs are also now benefiting from expectations that they may offer future redevelopment potential.
Prime grade freestanding retail assets were realising yields in the range of 5% to 6%, whilst non-institutional grade retail properties attracted slightly softer yields of between 6% and 7%. Convenience centres were showing yields of between 6.5% and 8.0%.
Recent evidence indicates that yields are probably nearing the bottom at these ranges, however, there is no indication as yet of any likely upward movement. Certainly, retail assets are generally being tightly held due to the lack of yield in alternate investment classes, says the HTW report.
Second tier assets saw compression of yields, though these remain some 100 to 200 basis points higher than premium grade assets.
Rental growth remains patchy with very little growth evident in current markets. There has however been a gradual decline in vacancies in the higher quality centres. Future rental growth, however, is still likely to only keep pace with inflation at best.
Large format retail properties have been coming back into popularity with a significant compression of yields since the difficult post-GFC days. Vacancies are generally declining, however rent growth remains largely stagnant, it concludes.
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Neighbourhood and convenience shopping centre deals flourished in Brisbane in 2015: HTW

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Ray White Hotels Asia Pacific managing director Andrew Jolliffe will once again line up against some of the nation’s top chefs and 150 CEOs at this year’s Oz Harvest CEO Cookoff on March 7 to to feed up to 1,300 homeless and vulnerable Australians.
The annual event is in its fifth year and aims to increase awareness on food insecurity, homelessness and food wastage in Australia.
The 50-chef lineup includes Matt Moran, Neil Perry, Guillaume Brahimi and many more.
“I find the thought of the sheer desperation and hopelessness hungry kids in this country must feel, an absolutely abhorrent concept. The people involved in the OzHarvest organisation, from the indefatigable Ronni Khan, right down to the volunteers who regularly lend their time to the movement, are so inspirational,” said Jolliffe.
Asked what his cooking specialty will be on the night, Joliffe said he just wants to complete the cookoff without losing a finger. “As for the dish we'll cook on the night, I'm prepared to take firm instruction from Matt Moran or Guillaume Brahimi or whoever is shouting at me the loudest.”
The <a href="https://www.ceocookoff.com.au/" target="_blank">OzHarvest CEO Cookoff</a> is the food-rescue organisation’s flagship annual event, and in it’s fifth year has raised more than $4 million dollars. This year its target is to raise another $1.5million.
 “I'm so grateful for the support of colleagues and clients who have already made commitments to support what is going on here. It's clearly great to raise money for such a worthwhile initiative, but without also raising the awareness of the issue central to the movement (namely the better utilization of existing resources: financial, human and product) to crush the absurdity of hungry kids in Australia; then I will have failed in meeting my objective,” said Jolliffe.
You can donate by clicking <a href="https://www.ceocookoff.com.au/sponsor" target="_blank">here</a>.
To watch Andrew's introduction, click <a href="https://www.youtube.com/watch?v=phfCRjmoVtM" target="_blank">here</a>.
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Ray White Hotel’s director Andrew Jolliffe swaps deals for meals as he gears up for the Oz Harvest CEO Cookoff

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Australia’s office market offers a mixed bag from one coast to the next.
Demand for space from tenants and level of landlord investment has fluctuated widely between the regions, so choosing the right fundamentals has become ever more important, according to valuation firm Herron Todd White latest property clock for offices.
The March property clock is a simple broad brush means to suggest where property markets are and what direction prices are moving in.
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.56.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.56.15%20PM.png" alt="">
Tamworth in New South Wales retains its place at the peak of the cycle and is the only one occupying the position.
NSW Far North Coast and Coffs Harbour are the new entrants to towns/cities approaching the peak of the market.
Darwin slips into the declining market position while Perth and Gladstone are approaching the bottom of the market, says the HTW clock.
In Coffs Harbour CBD, the demand and supply of office space remains stable and there has been a steady take up of oversupplied space. Rental levels are generally static with the most recent lettings effected at similar passing rental rates or subject to CPI increase. There is evidence of leasing incentives (generally two to three months rent free) within the market. 
The capital value levels for office buildings demonstrated strong demand and firm yields throughout the year.
In Darwin’s case, the outlook for the commercial office market is best described as bleak. The Charles Darwin Centre is now open for business and a number of government departments have moved in, leaving a number of other office buildings in the CBD vacant. HTW estimates that the vacancy rate for CBD office space exceeds 20% and could well climb higher over the next 12 months. 
As for Perth, the official vacancy rate in the CBD office market as at January 2016 was recorded as being 19.2%, up from 16.6% six months earlier and up 4.4% on the January 2015 result. 
Overall, the current state of the Perth office market continues to decline. Forecasts for the following six months will see little respite in vacancy numbers, with predictions as high as 24% by the first or second quarter of 2016.
Lastly, in Queensland’s Gladstone, the office market for 2016 is anticipated to remain relatively in line with 2015, with tenants keeping hold of negotiating power in new leases and when exercising option periods. Over the past 12 months there have been some reductions in rental levels of about 30% and this is expected to continue until rentals begin to flatten out.
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Australia's office market a mixed bag, Perth near bottom, Darwin outlook bleak: HTW March property clock

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The Australian Property Institute's proposal to modernise the organisation has received strong support from members.
At the API's extraordinary general meeting (EGM) in Adelaide, the motions passed with 90% of votes in favour.
At least 66% approval was needed to pass the resolutions, which include:
- the API to become a company limited by guarantee,
- and to adopt the proposed new constitution.
The new structure and governance is expected to come into effect from January 1, 2016.
"This is a real transition, a culture change from 2016 onwards, the API would serve the members, provide advocacy, develop and uphold professional standards," API chief executive Mike Zissler said.
API national president Tyrone Hodge would become chair of the new organisation until the AGM in May next year.
New members would also be nominated for election to the board at the meeting, with some current members staying to ensure continuity.
“There is still a lot of work to be done finalising charters, policies and guidelines, however, the outcome of the EGM is a tremendously positive step forward for the API," said Zissler.
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jchancellor-FAypfDUnLy

API members pass much needed modernisation reforms

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Federation Centres has appointed Michael O’Brien as its chief investment officer.
Angus McNaughton, Federation Centres’ chief said there had been an extensive executive search.
Michael previously held senior roles at GPT Group and at Lend Lease Corporation.
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