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

Reinsw

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It was time for the NSW government to correct the stamp duty brackets, according to the Real Estate Institute of New South Wales.  
The REINSW President Leanne Pilkington said REINSW has continuously failed in lobbying the NSW Government in an effort to persuade them to address the punishing effects of Stamp Duty bracket creep. 
“However, to date, Government has chosen to ignore the damage these outdated tax rates are causing.
“The Government’s conduct in regard to this issue is nothing less than unconscionable”, Ms Pilkington said.  
The NSW budget is due in two months.
“The current NSW Transfer Duty brackets (other than the top bracket for residential land over $3 million) have been in place for more than 30 years.  
“The Second Reading to the 1986 Bill which on enactment increased NSW Transfer Duty rates and introduced the current base thresholds included the following statement: 
"The increased rates for conveyances only affect properties worth more than $300,000 and thus will not affect the average home purchaser”.  “The median house price in Sydney is now at $1,179,519," she noted.
This clearly shows that the government is ignoring the market in which the current stamp duty rates were to apply. 
“Last financial year more than $7.3 billion was collected in stamp duty and to February 2018 the government has raised in excess of $4.7 billion, on par with the same amount collected in the first 8 months of that financial year.
Meanwhile Mirvac has introduced a marketing campaign aimed at first home buyers by matching the NSW Government’s $10,000 First Home Owner Grant on all apartments above the $600,000 cap.
Mirvac says its wants to sell to first home buyers who are currently missing out because their housing needs push them into a higher $600,000 price bracket, by matching the NSW Government’s $10,000 grant.
They will be permitted to exchange on a reduced deposit, paying the remainder in instalments and with priority to purchase ahead of other buyers.
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j.ballantyne1990-6AQqhLzZaK

NSW stamp duty rate needs updating by unconscionable state Government after 32 years: REINSW 

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Real Estate Institute of NSW figures showed residential vacancies rose to their highest level in four years in Sydney.
The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November.
The increase came from the middle and outer-ring suburbs.
The normally slow holiday period tally took it to a level it last seen in July 2013.
Sydney's vacancy rate was higher in September 2012, when it was 2.5 per cent, REINSW figures showed.
The December 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area up 0.1 percentage points at 2.2 per cent. 
During 2017 there was a slight decline in rental availability in Sydney which bottomed out in March and April before rising again as the year progressed to see supply meeting demand. 
Vacancy rates in Inner Sydney were down 0.1 percentage points in December at 2.0 per cent, while Outer Sydney rose 0.2 percentage points at 2.3 per cent and Middle Sydney was up 0.4 percentage points at 2.6 per cent. 
The Hunter fell 0.3 percentage points at 1.7 per cent with Newcastle down 0.6 percentage points at 1.7 per cent, while in the Illawarra, vacancy rates fell 0.1 percentage points to 1.7 per cent. Wollongong was up 0.1 percentage points at 1.7 per cent. 
Across regional areas, Albury fell 0.7 percentage points at 2.3 per cent, Coffs Harbour was down 0.2 percentage points at 1.8 per cent, Northern Rivers rose 0.1 percentage points at 0.9 per cent and New England added 0.2 percentage points to 2.5 per cent.
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Sydney vacancy rates edge to four year high

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The REINSW has slammed low upfront fee disruptive agencies.
"Consumers are at risk of not achieving the best price for their property if they use the services of companies that charge an upfront fee," according to the Real Estate Institute of New South Wales president Leanne Pilkington.
She said with the cooling Sydney market consumers are at risk of paying even when their property does not sell. “There had been a lot of press surrounding companies that offer a flat fee upfront to sell a consumer’s home rather than the traditional commission model,” she said.  “There is no motivation or incentive for these agents to take a professional approach in achieving the best possible result as they have already been paid regardless of the outcome,” she said.  Ms Pilkington said in buoyant markets upfront fees are attractive to consumers seeking to save money but they are not significantly tested because of the high demand and low supply.  “As the peak body REINSW is therefore concerned for sellers in this changing market who are vulnerable to such low cost high risk strategies that have the potential to leave them in the lurch.  “We encourage consumers to explore a full range of options when it comes to selling their most valuable asset: don’t just go for the lowest cost option as the risks are too high if you get it wrong. Never take anything on face value, do your research and ensure that you are making the best decision. “As the market cools the true value of an experienced real estate professional can really be seen,” Ms Pilkington said.
The press release did not name any agencies, but the most recent arrival has been Purplebricks.
<div>
Last year Hayden Groves, the president of the Real Estate Institute of WA, claimed these disruptive agencies offered "poor value to consumers."
Groves said Purplebricks' fixed fee of $4500 sounded "enticing to sellers.
"Then you are effectively on your own," he wrote.
</div>
Purplebricks, an online property platform that claims to have a unique low-cost model, was also attacked last year by a leading Australian property industry executive, the First National Real Estate chief executive Ray Ellis.
“Australians understand the extra value that a professional agent brings to the marketing, negotiation and sale of property, and therefore continue to choose agents to maximise their sale price," said Ellis.
Purplebricks opened its Sydney office late in 2016.
A Purplebricks agent was accused by Fairfax Media of "a lack of professionalism from start to finish" in an article on a Sutherland Shire listing where the vendor hoped to save more than $33,000 on the $1.85 million to $1.95 million property offering.
There was an upfront $12,000 outlay - a $5500 fixed-fee, $1370 in August auction fees plus money spent on additional advertising.
The debt was reportedly in the hands of Purplebricks debt partner RateSetter, after the vendor opted to defer payment until the end of her campaign.
<div>
"I don't see why I should have to pay all that money for no result and a lack of professionalism from start to finish," she alleged.
The property was sold in November by a traditional agency, but only after the price guide was dropped to $1.5 million to $1.6 million. 
Purplebricks co-founder and CEO Michael Bruce defended the agent's conduct saying he "gave comprehensive and sound advice to our customer based on their extensive experience, knowledge of market conditions and after undertaking a comparative analysis.
"It is ultimately the customer's decision, despite the advice, what price they wish to market the property for," Michael Bruce noted.
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No motivation for best result, as REINSW slams upfront fee disruptive agencies

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Sydney vacancy rates show supply is largely meeting demand, according to the Real Estate Institute of New South Wales.
REINSW president John Cunningham said the October 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan up 0.1 percentage points at 2.1 per cent, on par with January 2017.
“Vacancy rates in Inner Sydney fell 0.2 per cent to 2.0 per cent, Outer Sydney gained 0.2 percentage points to 2.0 per cent, while Middle Sydney fell 0.2 percentage points at 2.2 per cent,” Cunningham said.
“Parity is generally recognised at 2.0 per cent and we are currently seeing this right across Sydney.”
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The Hunter slipped 0.2 percentage points at 1.8 per cent with Newcastle down 0.6 percentage points at 2.3 per cent. The Illawarra was steady at 2.5 per cent led by Wollongong up 0.2 percentage points to 2.9 per cent, a figure last seen in January 2016. 
Across regional areas, Albury jumped back up to 3.2 percentage points, from 1.9 per cent, New England rose 0.5 per percentage points to 3.8 per cent and the Mid North Coast fell 0.4 percentage points at 1.7. Northern Rivers remained steady at 0.8 per cent. 
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/21/Residential2.jpg" target="_blank">to enlarge.</a>
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jonathanchancellor-7SQnKwU6yx

Sydney vacancy rates nudge higher: REINSW

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The Real Estate Institute of NSW has integrated DocuSign’s eSignature application into its existing online forms and contracts cloud software platform, REI Forms Live.
Around 40,000 individual agent members will be able to manage lease agreements digitally.
Tim McKibbin, CEO, REINSW, said real estate has been on the verge of digital transformation for some time and replacing paperwork with digital documents is a fast way to digitise the entire industry and reinvent the customer experience.
“Today’s real estate agents are faced with a rising demand from new generations of ’digital natives’ who want business to be done with ease, speed and security,” he said.
“As far as I’m concerned, with consumer efficiency expectations there is no choice but to digitise."
Within 12 months, DocuSign and REINSW anticipate that more than 70 percent of REINSW’s members will be conducting business with customers, and renewing memberships, through DocuSign.  
Brad Newton, vice president, DocuSign APAC said REINSW is truly leading the digital disruption of the real estate industry. 
“Prior to DocuSign, agents were able to easily access the forms they needed through the REI Forms Live platform, but there was still a high level of paper-based processes involved with printing, scanning, faxing and posting involved," he said.
"By giving access to cutting-edge digital technology from DocuSign, REINSW ensures independent agents remain successful in an increasingly competitive market.”
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REINSW integrates with DocuSign for greater eSignature capability

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Residential vacancy rates across the Sydney metropolitan region remained at 1.7 percent for April despite a decline of 0.2 percent at 1.2 percent in Middle Sydney, according to the REINSW.
John Cunningham, president, REINSW , said a vacancy rate under 2.0 percent signals that there are supply issues across Sydney.
“This is particularly being seen in the middle suburbs which are 10km-25km from the CBD, where we have vacancy rates at the lowest level since March 2011," he said.
"Inner Sydney vacancy rates fell 0.1 percent at 1.5 percent and outer Sydney bucked the trend to rise 0.1 percent at 2.2 percent.”
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.11%20am.jpg" target="_blank">Click to enlarge</a>
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"The Hunter rose 0.3 percent to 2.3 percent, largely due to an increase of 0.3 percent in Newcastle to 2.3 percent.
"In the Illawarra, vacancy rates slipped 0.1 percent at 1.4 percent despite a rise of 0.1 percent to 1.3 percent in Wollongong.
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.48%20am.jpg" target="_blank">Click to enlarge</a>
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"Across regional areas, Albury’s vacancy rate jumped 0.8 percent to 3.0 percent, Coffs Harbour rose 0.9 percent to 3.8 percent and New England rose 0.9 percent to 3.0 percent.
"The Northern Rivers added 0.1 percent to 1.1 percent, while the South Coast fell 0.2 percent at 1.2 percent."
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Sydney's middle suburbs post vacancy rates lowest since March 2011

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Residential vacancy rates jumped in Middle Sydney as more stock has come onto the market, according to data released by the Real Estate Institute of New South Wales.
REINSW President John Cunningham said the September 2016 REINSW vacancy rate survey had Middle Sydney see a rise of 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy rate to 1.9 per cent.
“The Middle Sydney vacancy rate has been affected by more stock coming onto the market,” Mr Cunningham said.
<a href="/images/2016/10/17/Vacancy%20rate%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Vacancy%20rate%201.jpg" alt="">
“Elsewhere across Sydney, the Inner Sydney vacancy rate fell 0.1 per cent to 1.8 per cent and Outer Sydney rose 0.1 per cent to 1.8 per cent,” Mr Cunningham said.
In the Hunter region, vacancy rates dropped 0.5 per cent to 2.2, led by a tightening of the Newcastle market at 1.9 per cent down 1.1 per cent.
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In the Illawarra region, vacancy rates are back at levels seen six months ago at 1.3 per cent down 0.3 per cent. Wollongong was up 0.2 per cent at 1.3 per cent.
Across regional areas, Albury was down 0.2 per cent at 2.9 per cent, Northern Rivers fell 0.3 per cent at 1.0 per cent and New England remained steady at 3.9 per cent.
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Rental vacancy accommodation in middle Sydney increases: REINSW

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The Real Estate Institute of New South Wales has announced the finalists for the 19th annual REINSW Awards for Excellence.  
REINSW President John Cunningham said being nominated as a finalist in the REINSW Awards for Excellence was the most significant accolade a real estate agent operating in NSW can receive. 
“The achievement of being recognised as a finalist is highly valued by both consumers and the profession.  “This year’s Awards program sees 21 categories spanning all facets of our industry including innovation, community service, residential and commercial professionals, as well as rising stars and auctioneers,” Mr Cunningham said.  The REINSW Awards will be announced in October 2016. 
2016 REINSW Awards for Excellence 
FINALISTS
 
AUCTIONEER
Gavin Croft – BresicWhitney/ Real Estate Auction Services
Jesse Davidson – auctionWORKS
Josh Larsen – McGrath Estate Agents
Edward Riley – McGrath Estate Agents
 
 
BUYERS’ AGENT
Nicky Cadry - BuyEast Buyers Agent
Joshua Coleman – JLL
Amanda Gould - HighSpec Properties
Rich Harvey – propertybuyer
Sebastian James - Hunter James
Jacqueline Parker – House Search Australia
 
 
COMMERCIAL AGENCY – SMALL
Commercial Property Group - Bankstown
Commercial Property Group - Bennett
Knight Frank Wagga Wagga
MMJ Real Estate
PRDnationwide - Norwest
Sutton Anderson
COMMERCIAL AGENCY – LARGE
CBRE
CI Australia
Colliers International (NSW)
Knight Frank
 
 
COMMERCIAL PROPERTY MANAGER
Jason Bowen - First National Commercial Shultz/Taree
David Ferreri - Coutts - Wetherill Park
Marlene Lynam - Highlands Property
Petah Richards - CBRE
Maidee Tirado - Knight Frank Australia
 
 
COMMERCIAL SALESPERSON
Hugh Anderson - Sutton Anderson
Sam Brewer - JLL
Michael Crombie - Colliers International (NSW)
Kymbal Dunne - Knight Frank
David Inkster - PRDnationwide - Norwest
Miron Solomons - Colliers International (NSW)    CORPORATE SUPPORT
Laura Beattie – auctionWORKS
Sarah Bester - Ray White Double Bay
Rachel Lilley - McLachlan Partners
Sonia Merciai - Laing+Simmons Corporation
Kristina Munro - Commercial Property Group – Bennett
Belinda Tolevski - Colliers International (NSW)
 
 
DIGITAL MARKETING
Sponsored by realestate.com.au
Chadwick Real Estate
Colliers International (NSW)
Cooley Auctions
Di Jones Real Estate
Pilcher Residential
 
 
INNOVATION
Sponsored by Rockend
Di Jones Real Estate
Laing+Simmons Corporation
Raine &amp; Horne Terrigal - Avoca Beach
Raine &amp; Horne Concord
Thirdi Sales &amp; Leasing
 
 
JOHN GREIG OAM COMMUNITY SERVICE
Sponsored by REI Super
Hugh Bateman - The Property Shop (NSW)
Christian Bracci – Raine &amp; Horne Concord
Aris Dendrinos - Richardson &amp; Wrench Hurlstone Park and Marrickville Kathryn Hall – Kathryn Hall Real Estate
Peter Mylonas - Peter Mylonas Property Solutions
Ian Qiu - Morton
Edward Riley – McGrath Estate Agents
 
 
PROPERTY MARKETER
Kate McCullagh - Di Jones Real Estate
Thomas Mosca - CBRE
Louisa Jackson – Langulin
Cranston Schwarz - LJ Hooker Freshwater
Sean St Clair - Ray White Lower North Shore
Anna van Schie - Ray White Balgowlah
 
 
REAL ESTATE AGENCY – SMALL
John Flood Estate Agents
Justin Ferguson Property Specialists
Lawson Estate Agents
One Agency Reeves Properties
Ray White Rural Temora
Unrealestate Coffs Coast   REAL ESTATE AGENCY – MEDIUM
Sponsored by Industrie Media
Callagher Estate Agents
McGrath Estate Agents - Wollongong
Raine &amp; Horne Double Bay
Strathfield Partners Real Estate
 
 
REAL ESTATE AGENCY – LARGE
Sponsored by PropertySafe
Chadwick Real Estate
Morton
Ray White Lower North Shore
 
 
RESIDENTIAL PROPERTY MANAGEMENT TEAM
Chadwick Real Estate - St Ives
Dowling Real Estate Raymond Terrace
Dukes Estate Agents
Leah Jay
Morton
Richardson &amp; Wrench Hurlstone Park
 
 
RESIDENTIAL PROPERTY MANAGER
Sponsored by Direct Connect
Maria Eveleigh - Richardson &amp; Wrench Hurlstone Park &amp; Marrickville
Melissa Howard – Morton
Michelle Lucas – LJ Hooker Freshwater
Zac Morgan - Living Here Double Bay
Laetitia Pearce - Home Specialist Property Management
Emma Prgomelja – Di Jones Real Estate
 
 
RESIDENTIAL SALES TEAM
HOME789
McGrath Estate Agents - Coogee
McGrath Estate Agents - Edgecliff
McGrath Estate Agents - Terrigal
Raine &amp; Horne Terrigal - Avoca Beach
Strathfield Partners Real Estate
 
 
RESIDENTIAL SALESPERSON
Sponsored by realestate.com.au
James Crow – Morton
D'Leanne Lewis – Laing+Simmons Double Bay and Laing+Simmons Bondi Beach
George Rafty - First National Newcastle City
Nick Separovich - McGrath Estate Agents
Ettiene West - Morton
 
 
RISING STAR
Henry Burke - Colliers International (NSW)
Jessica Male - JLL
Peter Mihailou - Knight Frank Australia
Danny Shi – CBRE
Cameron Wakeham - Colliers International (NSW)
Brian Whiteman – McGrath Estate Agents
 
RURAL MARKETER
Sponsored by realestate.com.au
Richard Gemmell – Elders Real Estate
David Goldring – The Property Shop (NSW)
Edward Zouch Hamilton - Ray White Rural Forbes
Richard Royle – Colliers International (NSW)
Sam Triggs - William Inglis &amp; Sons
 
 
YOUNG AGENT
Sponsored by Commander
Elodie Fabre - Di Jones Real Estate
David Goldring - The Property Shop (NSW)
Natalie Jo Lett - Lawson Estate Agents
Alyse Pilley - The Property Shop (NSW)
Cameron Porter - Hunter James Exclusive Buyers Agents
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REINSW announce finalists in annual awards

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The decision to give homebuyers of properties with swimming pools 90 days to rectify non-compliant swimming pool barriers has been lauded by the Real Estate Institute of New South Wales.  Minister for Local Government Paul Toole announced on March 11, 2016 the new regulations applying to the sale of properties with swimming pools to take effect from April 29. 
“From 29 April 2016, vendors will need to attach to the contract of sale a Certificate of Compliance, or a Certificate of Non-Compliance outlining what needs to be fixed,” REINSW president John Cunningham said. “This is a sensible approach given the ongoing issues and delays over the last three years in regard to these important regulations." “It is great to see that amendments have been made to allow these regulations the ability to be successfully implemented and help make our backyards safer,” Cunningham said. As part of the regulations, every new tenancy application to the Residential Tenancy Tribunal must also have a compliance certificate if the property has a swimming pool. 
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PROPERTY 101 New regulations on backyard pools receives REINSW support

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Fearing that the property market will be used as a ‘rescue’ in the upcoming New South Wales state budget, the Real Estate Institute of New South Wales are warning the government to avoid the pressure of the federal budget to do so.
REINSW president Malcolm Gunning has urged Premier Mike Baird not to “follow the lead of previous governments who [have] used the property market to raise additional revenue” in a period where the market has shown recovery. He said that property shouldn’t be treated as a “cash cow” by the government.
“The property market is just showing signs of recovery and not all areas are enjoying growth. Property consumers and in particular first home buyers should not sit back and let this happen,” said Gunning.
He urged the state government not to increase land tax or stamp duty to plug budget holes.
In fact, some of his points closely match the <a href="/expert-insights/investing/the-reias-10-point-wishlist-for-the-federal-budget">10 point budget wish list submitted by the Real Estate Institute of Australia for the federal budget</a>.
Instead, a broadening of the GST tax base was suggested by Gunning.
“This should replace the revenue losses from the abolition of the discriminatory and inefficient state taxes,” he said.
<blockquote>
The REINSW urged the state government not to increase land tax or stamp duty to plug budget holes.
</blockquote>
“We have called on other state property institutes, associations and franchisors to voice their support for tax reform and we have already received backing,” he said.
“For too long the property market has been the state government’s cash cow and property consumers are now saying enough is enough.
New South Wales is expected to be $548 million over budget in transfer stamp duty collections for 2013/2014.
“Furthermore stamp duty rates have not been reviewed for 40 years. Bracket creep works in favour of government revenue and that is the reason it has not been reviewed. As a result of the failure to amend stamp duty rates, and the subsequent increase in property values over time, the average home is being taxed beyond that of which parliament initially intended,” he said.
“Change is long overdue and now is the time for Mr Baird to show he is a different sort of premier and remove these barriers to the property market and in particular provide support to first home buyers."
While Gunning suggested that pressure from the federal budget may encourage Baird to treat property in the manner of an additional revenue raiser, it may not indeed be the case that the federal budget has a significant effect on the property market’s strength.
Wakelin Property Advisory’s Richard Wakelin said that while the federal budget is a "horror budget", it’s unlikely to hinder the market.
“Although it may sound counter-intuitive, the sustainability of the property recovery will actually be helped by the response of consumers to the federal government’s austerity measures. It greatly reduces the likelihood of over-exuberance in the property market – which is already performing very strongly – and this subsequently transmitting into price inflation,” said Wakelin.
“It was the real threat of a resurgence in price inflation that was the greatest threat to the continuation of the property market’s recovery. Inflation had been stirring in recent months. Indeed it reached 2.9% in the March quarter, up from 2.2% six months earlier. If this trend persists it will inevitably force the Reserve Bank to raise the cash rate, possibly more than once.”
See over page for more 
 
<hr class="system-pagebreak">
Wakelin noted that it appears the RBA is confident in easing inflationary pressures, with wage restraint and the view that the property market is easing, and it has extended a period of stable interest rates.
“But observers of monetary policy will know that the Reserve Bank’s attitude can change in a relatively short time.  For instance, were the Australian Bureau of Statistics to report a spike in recorded inflation in July, when they next publish, then the pressure to raise interest rates could mount,” he said.
He noted that the treasurer’s efforts may have “done enough” to temper exuberant behaviour and shops and at auctions, but not to the extent of losing positive sentiment completely.
“So despite the broad criticism of the Treasurer’s first budget, ultimately, it is much less damaging to the economy – and the property market – that inflation is reined in by an austere fiscal policy rather than the Reserve Bank raising the cash rate – which is a very blunt instrument that often takes months to exert the desired effect,” he said.
Recently, <a href="/expert-insights/investing/how-does-the-budget-affect-property-investors">Josh Atherton answered the question ‘how will the budget affect property investors?’</a>, saying that there are some changes (or changes that didn’t appear) that many investors should be thankful for.
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