Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Damage Claim

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Accounting giant KPMG's property consulting arm has been accused by real estate group GDI Investment Management of misleading advice that lifts in a commercial building had been upgraded in 2010 in spite of no upgrades since their installation in 1992.
The listed GDI Investment Management says KPMG SGA's due diligence report contained untrue and misleading findings about the lifts in Stanley Place, a 12-storey commercial building in Townsville.
There are three passenger lifts and two combined passenger-goods lifts, according to a statement of claim filed in the NSW Supreme Court, reported The Australian Financial Review.
GDI bought the building in June 2016 through a trust, with GDI holding a 45 per cent stake in the trust, the AFR said.
The company also alleges that KPMG SGA’s report on the condition of the lift controllers was based on a promotional memo prepared by the selling agent Knight Frank and an oral statement of the vendor's facilities manager Lee Messenger, rather than its own inspection and a professional evaluation.
GDI and KPMG declined to comment, citing the ongoing court case.
KPMG SGA was acquired in 2014 to provide end-to-end services in property transactions to meet the demand from Asian and other offshore investors.
In February 2016, KPMG SGA made a finding that a lift upgrade was carried out in about 2010 which replaced the electronic lift control system.
GDI cites that part of the report as "untrue or misleading" because the lift controllers had not been replaced or upgraded since the lifts were installed in 1992, the AFR said.
It alleges that KPMG SGA's finding that no expenditure would be required for the lifts in the next 10 years was unreasonable.
It says it bought the Stanley Place building in June 2016 based on the report and is now seeking damages and compensation from KPMG.
In its defence document, KPMG SGA has denied the allegations.
KPMG SGA says the main processor circuit cards were upgraded progressively, new door controllers and associated components were installed and there was a progressive upgrade of control circuit boards, auxiliary relays, electrical contractors and other components under the service agreement with lift manufacturer Kone.
It also denies relying on Knight Frank's promotional memo and the vendor's facilities manager's statement in preparing its due diligence report. 
The accounting firm says GDI is not entitled to damages or compensation.
Separately, KPMG is defending a class action brought by law firm Piper Alderman which alleges the firm gave misleading advice to the board of failed junior miner Discovery Metals by inflating the value of the company's principal asset by as much as 40 per cent.
 
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jonathanchancellor-7SQnKwU6yx

KPMG SGA, GDI in legal battle over due diligence report of office building

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Understanding the intricacies of home and contents insurance policies can be complex, according to Canstar.
Below are a few of the more common home and contents-related terms that you'll need to understand – although keep in mind that policy wording can vary from insurer to insurer.
As such this is just a very general guide to some common terms. Please make sure that you carefully read the terms and conditions of any specific policy you are considering, to understand the inclusions and exclusions of that particular policy.
Accidental glass breakage
The accidental breakage of glass contents or glass forming part of contents. Glass contents may include such things as light fittings, glass in furniture and mirrors. It does not usually mean glass in televisions or small glass items such as crystal and ornaments.
Antiques, memorabilia
Given the sometimes-valuable nature of these items, you may find that the item is subject to a maximum dollar claim limit, or if the item cannot be replaced or repaired under the new for old specifications, your insurer may pay you what it would have cost to buy the item immediately before the loss or damage occurred, although your insurer will not pay more than the sum insured for that item.
Building replacement value
The amount it would cost you to totally rebuild your home at today?s prices, including any home improvements you have made.
Certificate of Insurance
The Certificate of Insurance is given to you by your insurer for each period of insurance. It is an important document as it shows the cover you have chosen and other policy details. It is used to verify the existence of that insurance.
Contents
Contents means your unfixed household goods and valuables and personal effects that you own including. It can include some items you may not automatically think of, including:
<ul>
<li>carpets – fixed and unfixed, internal blinds and curtains</li>
<li>furniture and furnishings</li>
<li>electrical appliances such as TVs, stereos, computers, washing machines, dryers, refrigerators, freezers, portable heaters, plug-in lamps</li>
<li>wheelchairs and medical equipment</li>
<li>household tools and gardening equipment including ride-on mowers</li>
<li>firearms legally registered and stored</li>
<li>plants in pots</li>
<li>portable and above-ground swimming pools and spas in a temporary site and their accessories</li>
<li>surfboards, sailboards, canoes, kayaks and non-motorised surf skis</li>
</ul>
Contents – unit
If you insure contents in a unit, contents can include fixtures and fittings in the unit which are not legally part of the unit building for insurance purposes such as light fittings, wall paint, wall paper, wall coverings, floor coverings, eg floating floors, lino etc, a heater or airconditioning unit that you own.
Make sure your contents sum insured includes these fittings.
Duty of disclosure
You have a Duty of Disclosure to be honest and to tell your insurer everything you know or should know that a reasonable person would consider to be relevant to the insurer?s decision to insure anyone under the policy, including you, and on what terms.
The information you tell them can affect:
<ul>
<li>the amount of your premium</li>
<li>if your insurer will insure you</li>
<li>if special conditions will apply to your policy.</li>
</ul>
If you are unsure, it is better to tell your insurer. If you do not tell your insurer something which may be relevant, it could result in a claim being reduced or refused or cancellation of your policy.
Excess
The excess is the amount you have to pay for each incident if you make a claim. It is generally deducted from the amount of cover provided by your policy. The amount and type of excess that applies to your policy is shown on your Certificate of Insurance.
Family
Family is generally defined as people who normally live with you and are:
<ul>
<li>your spouse or partner</li>
<li>your children or step-children</li>
<li>your parents, grandparents, brothers or sisters</li>
<li>domestic staff</li>
<li>another person who resides with you  – but excludes any person who pays a financial consideration for doing so</li>
</ul>
Flood cover
The standard definition of flood is:
<ul>
<li>the covering of normally dry land by water that has escaped or been released from the normal confines of:</li>
<li>any lake, or any river, creek or other natural watercourse, whether or not altered or modified; or</li>
<li>any reservoir, canal, or dam.</li>
<li>This is quite separate from damage caused by the sea. If you have concerns in this area, check with your insurer.</li>
</ul>
Forced entry
Unlawful entry into your home, including entry by using stolen keys or picking locks. It does not mean opening an unlocked door or window.
Fusion
The actual burning out of an electric motor or its wiring caused by the electric current in it. Therefore the item you are claiming on must have a motor for the claim to be successful. Common items that may be subject to a fusion claim include washing machines, refrigerators, clothes dryers, freezers and pool motors.
Home
Home means your residential building and its domestic fixtures and domestic structural improvements, at the insured address, including:
<ul>
<li>garages and other domestic outbuildings</li>
<li>pergolas, patios, verandas, decking and fixed gazebos</li>
<li>wallpaper, paint and coverings on walls or ceilings</li>
<li>fixed floor coverings including linoleum (glued down or not), timber floor coverings but not carpets (whether secured to the floor or not) or floor rugs</li>
<li>insulation for roofs or walls</li>
<li>electrical and gas appliances, light fittings and alarm systems but only if these appliances are permanently connected or plumbed to the electricity or gas supply</li>
<li>dishwashers that are housed in a purpose-built cupboard or bench</li>
<li>swimming pools and spas in a permanent site and their accessories</li>
<li>barbecues (fixed in place)</li>
<li>clothes lines (fixed in place)</li>
<li>external blinds, fixed shade sails (fixed in place)</li>
<li>awnings and fixed shade umbrellas (fixed in place)</li>
<li>aerials, fixed satellite dishes (fixed in place) and</li>
<li>masts (fixed in place)</li>
<li>garden borders, driveways, paths and paving</li>
<li>walls, gates and up to 2 kilometres of fencing</li>
<li>service pipes and cables that you own or are legally responsible for</li>
<li>tennis courts</li>
<li>boat jetties and pontoons</li>
<li>unfixed home building materials and uninstalled home fittings.</li>
</ul>
New for old
A provision that if your home or contents are damaged or stolen, your insurer will replace them with new items or repair them with new materials that are available at the time of replacement or repair from Australian suppliers.
Optional cover
This is extra insurance cover above that already included in the standard policy. You can ask your insurer to add one or more optional covers to your policy for an extra premium. An example may be accidental glass breakage, or storm damage to gates and fences. You can discuss with your insurer of choice the optional covers that may be available.
Period of insurance
The time you are covered by the insurance, as shown on your Certificate of Insurance.
Policy
Your insurance contract. It consists of this PDS, your application for insurance and your latest Certificate of Insurance.
Premium
The amount you pay your insurer for insurance. You also pay stamp duty, GST and any additional government charges, and Fire Services Levy (FSL) if applicable.
Product Disclosure Statement (PDS)
PDS is the name of the document that contains the terms of your insurance cover. It includes information that would have previously been available in the insurance policy booklet. It tells you what cover is provided, details of costs, fees and charges and other important information. It should be read together with your Certificate of Insurance. If there are any changes to your PDS, your insurer should provide you with a Supplementary PDS, or a new PDS.
Sum Insured
The most you can claim for any particular incident. The amount is shown on the Certificate of Insurance or in the PDS. The sum insured includes GST.
Tools of trade
Tools or equipment used for any business activity except for home office equipment.
Unit
A home unit, flat, villa or townhouse subdivided according to state or territory strata or unit title laws, or similar laws.
For more information, <a href="https://www.canstar.com.au" target="_blank">click here</a>.
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