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

Rural Nsw

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One of Australia’s largest integrated beef and cropping businesses, spanning nearly 26,000ha is being offered to the market for sale.
CBRE Agribusiness has been appointed to sell the northern NSW aggregation, comprising a large scale integrated business producing more than 100,000 MSA graded cattle and 40,000 tonnes of grain on a yearly cycle.
Located in NSW’s north-west, the business recently received certification and trade mark for its unique cattle finishing model, ‘Certified Free Range Grain &amp; Grass Fed’, which has underpinned its award-winning beef brands.
CBRE’s Richard Royle and Col Medway are seeking a buyer via an expressions of interest campaign closing October 31.
Mr Royle said the opportunity to secure a successful enterprise with both scale and diversity had already generated significant investment interest.
“To date, inspections have been conducted by a wide variety of buyers, including Australian and international corporates, Australian family offices, private capital advisors, private equity managers, cropping businesses and beef industry participants,” Mr Royle said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/3/Agri%202.jpg" alt="">
The aggregation has a current cattle capacity of 30,000 head of cattle, with an annual turnoff capacity in excess of 140,000 and further expansion capabilities. The cattle are accommodated in the licensed 7,000 SCU feedlot
(DA approval for an expansion to 20,000 SCU) with the remainder in paddocks under the grain and grass fed system.
The dry land cropping ranges from flat Moree plains to rolling hillside at Croppa Creek/Warialda. The business also operates its own fleet of modern livestock and bulk trucks, ensuring the prompt delivery of cattle to processors and customers.
Structural improvements and infrastructure include quality plant and machinery, grain storage facilities, reticulated water troughs, fencing, cattle yards, storage facilities and accommodation. It also includes a long-standing management team and support team of mechanics and maintenance staff.
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j.ballantyne1990-6AQqhLzZaK

26,000 hectare agri footprint in NSW’s Golden Triangle hits the market

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GUEST OBSERVATION
The New South Wales Rural Fire Service declared the earliest total fire bans in its history this week. The entire state was declared to be in drought on the same day.
The combination of winter drought and hot, dry weather has made dangerous fires increasingly likely.
Already this week two fires on the south coast have escaped containment lines and destroyed houses. The weather during these fires was 6℃ warmer than the August average, dry and extremely windy. The wind speed peaked at 104 kilometres an hour in Bega and 85km/h in Nowra, two towns close to where fires broke out.
Under these conditions, bushfires will spread quickly, produce large numbers of embers and are hard to stop.
Our fire seasons now start earlier and last longer. This means we’re increasingly likely to see repeats of historically large fires threatening residential areas.
Fire seasons are longer
Current dry conditions are reflected in the maps of live fuel moisture produced by Dr Rachael Nolan of Western Sydney University.
<a href="https://images.theconversation.com/files/232411/original/file-20180816-165961-10g0j70.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/232411/original/file-20180816-165961-10g0j70.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
<a class="source" href="https://agupubs.onlinelibrary.wiley.com/doi/full/10.1002/2016GL068614" target="_blank">Nolan R.H., Boer M.M., de Dios V.R., Caccamo G., Bradstock R.A. (2016), Large-scale, dynamic transformations in fuel moisture drive wildfire activity across southeastern Australia. Geophysical Research Letters 43, 4229-4238.</a>
This method tracks the weekly moisture content of the forests in southern Australia, as observed by NASA’s MODIS satellite. The latest map shows a patchy distribution of dry areas and a drying trend over recent weeks.
It looks like NSW’s fire season has already started, and it’s likely to be bad. Last year’s fire season also extended well into autumn, with serious bushfires burning in mid-April.
Fire agencies usually enjoy a six-month break from bushfires between April and September, but this year they had only three months’ respite.
This reflects evidence of a trend toward more extreme fire weather over the past 30 years, and lengthening fire seasons.
This problem is being keenly felt in western United States, where fire agencies have warned that the fire season now lasts all year round. Not only that, there is clear evidence climate change is increasing fire activity in the United States; the record for the largest fire in California history has been broken two years in a row.
Alarming precedents
The most damaging fire season for NSW in the past 30 years was in October 2013 when the Linksview fire destroyed 200 houses in the Blue Mountains.
The build-up to that season was eerily similar to this year, with a winter drought and bushfires in September, but the moisture maps show that the forests are drier now than at the same time in 2013, and we have already seen serious bushfires in August.
As we move into September and October, the weather will warm, which means any remaining moisture in the ground and plants will evaporate even faster than at present, and fires will be more intense and spread faster. The only thing that will reduce the risk is soaking rain of at least 100mm.
Whether or not that will occur in the next two months is almost impossible to predict. At the moment it seems unlikely. The Bureau of Meteorology’s latest seasonal forecast, issued on August 16, considers it likely that dry conditions will persist for the next three months.
The heightened risk of bushfire this season should be a wake-up call for residents in bushfire-prone areas. Most people in really risky areas such as the Blue Mountains are well prepared, but many people who are a little more removed from the forests are not aware of the risk.
For example, many residents of Wollongong probably don’t know this October is the 50th anniversary of the great 1968 fires that swept down the Illawarra Escarpment into the suburbs of Figtree, Bulli, Austinmer and others.
<a href="https://images.theconversation.com/files/232412/original/file-20180817-165955-1f2bhyl.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/232412/original/file-20180817-165955-1f2bhyl.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 The footprint of the 1968 Illawarra fires, which burned through residential areas.
If the same footprint of fire were to occur again, some 5,000 houses would be affected. The present indicators suggest a repeat of this event is more likely than at any time for decades.
Residents need to prepare a bushfire survival plan, which includes a decision on whether to stay and defend or to leave as soon as they learn about a nearby bushfire.
Current research at University of Wollongong suggests that the biggest influence on the risk of house loss during a bushfire is the actions that the residents themselves take. This includes ensuring that natural and man-made fuels are kept to a minimum in the garden, especially close to the house, and also defending the house from spot-fires caused by embers.
The Rural Fire Service has a wealth of advice for preparing for bushfires on its <a href="https://www.rfs.nsw.gov.au/plan-and-prepare" target="_blank">website</a>.

We’re look at a torrid upcoming fire season, dependent on the vagaries of the Australian climate. Either way, now is the time for people to brace themselves and get prepared.
Owen Price<a href="https://theconversation.com/profiles/owen-price-105069"></a>, Senior Research Fellow, Centre for Environmental Risk Management of Bushfires, University of Wollongong
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/drought-wind-and-heat-when-fire-seasons-start-earlier-and-last-longer-101663" target="_blank">original article</a>.
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Drought, wind and heat: when fire seasons start earlier and last longer

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The general southern New South Wales and northern Victorian market continues to display signs of strength and resilience, according to the latest rural report from Herron Todd White (HTW).
The valuation firm stated that recent positive rainfall outcomes across the Albury and northern Victorian areas has also served to allay any concerns that were beginning to appear because of the extended dry period.
"With regards to recent transactions, we are aware of a property approximately 50 kilometres north of Albury that has just gone under contract," the HTW valuers noted.
"This property is all open, mostly arable, improved grazing country, typical of the area and has transacted at approximately $8,300 per hectare, excluding the added value of the buildings in place.
"This is in line with recent agents comments about the area which indicated that the area to the north of Albury has been achieving $3,000 to $4,000 per Acre ($7,400 to $9,800 per hectare)."
Recently, a number of valuations in the far western New South Wales area to the north and north east of Broken Hill have been undertaken.
There has been a change in what the market has been prepared to pay on a dollar per dry sheep equivalent (DSE) rate for typical open grazing country in the area.
Previously, (up until late 2016) DSE rates in the $200-$350 range would have been expected, however, now all of the sales analysed indicate rates in the $400 to $500 range.
The valuers discussed that while initially this was "concerning" when the rates were reviewed in comparison to the rates paid for higher rainfall inside tablelands country to the east, "it became apparent that the relative ratio of dollars per DSE rates paid between the tablelands country and the far western country is still similar to what it has been".
"Now that far western country is at $400 to $500 per DSE, we see that the tablelands country is now $600 to $700 plus per DSE, whereas previously, rates were mostly in the $450 to $600 range."
These elevated rates equate to significant strengthening in the corresponding underlying land value.
The exact dollar per hectare rates vary with the carrying capacity of the country involved however, in general we would expect country to the north of Broken Hill to be in the $90 to $100 per hectare range.
HTW reported despite the deteriorating seasonal conditions that the Buckanbe offering has gone under offer.
Buckanbe is a 40,000 hectare, very well located grazing property on the Darling River just downstream of Tilpa.
"Whilst we are not aware of the negotiated outcome, we would expect it to achieve approximately $150 per hectare overall," the valuers concluded.
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Far western NSW rural DSE rates almost double: HTW

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The general market in southern and western New South Wales continues to show strengthening signs, according to the latest HTW report.
"Generally we have seen the level of sales activity drop slightly, however this is a reflection of a lack of stock rather than a softening of market interest overall," the March 2018 update by the valuation firm advised.
In far western New South Wales, HTW valuer Scott Fuller noted new benchmark levels set in dollar per DSE rates achieved.
The sale of Berta Station which is a 43,500 hectare holding with a carrying capacity of 10,000 DSE located 120 kilometres south-west of Broken Hill on the South Australian border recently sold for $5.38 million which equates to $124 per hectare overall.
From a productive capacity basis this equates to $527 per DSE.
"These rates are generally seen in tablelands country in far higher rainfall areas," Fuller said.
"Like all market activity there are always outlying sales and it appears that this sale is one of those, however it does indicate the willingness of buyers in the current market to stretch the normal excepted boundaries in terms of a value perspective," he said. 
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Two examples of the level of strengthening included a recently visited, large mostly arable grazing property in the Cootamundra area which we last valued in June 2016. 
"Our current assessed value for the same property has risen by 26 percent over the 19 month period, with a number of solid large-scale sales to support this assessment. 
"This equates to 1.4% per month over 19 months which is quite phenomenal. 
"We have also revisited some larger grazing properties to the north-east of Broken Hill which were last valued in late 2014. 
"Our current assessment indicated a 28.8% rise in overall value which equates to 9% per annum - still a strong result."
Fuller advised when building a business plan for a rural purchase at present, it would be prudent not to allow for any capital growth in the short to medium term as this same situation occurred back in 2008.
"Our experience then indicated that generally the market in New South Wales peaked in late 2008 and general value levels softened slightly and then were steady for a number of years.
"There were a number of corporate purchases made at this time and our relationship with these assets over the ensuing years showed that the original value levels were not reached again for approximately six to seven years.
"While we are not saying that the market will perform exactly the same, it does have a history of repeating and our expectations are that a similar scenario will result over the coming 12 to 18 months.
"The difference in 2018 is that our interest rates are at record lows and are still encouraging investment from within the industry, so we may just see the golden period continue for a bit longer yet!"
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Far west NSW rural prices matching tablelands country: HTW

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<div>The former solicitor-general of Australia, David Bennett QC, and his wife Angela, a former judge of the Federal Court, have bought a weekender on the NSW south coast.</div>
<div> </div>
<div>The Woollahra-based couple have spent $4.75 million on an <a href="https://www.realestate.com.au/sold/property-house-nsw-berry-124868898" target="_blank">architect-designed manor in Berry</a>. Set on an elevated 20ha near Seven Mile Beach, the hobby farm property has previously run 20 Black Angus cows, horses and sheep.</div>
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<div>The two-storey home has four bedrooms. There’s an entertainer’s terrace overlooking a heated pool, which comes with a self-contained pool house.</div>
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<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/12/berry%202.jpg" alt=""></div>
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<div>The home was sold by the London-based Macquarie infrastructure boss David Roseman and his wife, interior designer Sue, who had it initially listed for March auction last year when they were seeking $4.75 million through Gary Dale at Belle Property.</div>
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<div>Their manor-style mansion was built after they had bought the Coomonderry Ridge holding in 2011 for  $1.18 million.</div>
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<div>Roseman was appointed to the merchant bank’s top infrastructure post in 2015.</div>
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<div>Bennett served as solicitor-general for a decade until 2008.</div>
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<div>This article was first published in the Sunday Telegraph.</div>
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<h2><a class="clickable" title="View Property Detail" href=""> </a></h2>
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jonathanchancellor-7SQnKwU6yx

Former solicitor-general of Australia David Bennett buys Berry weekender

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The Federal Court has ordered Murray Goulburn to pay a $650,000 fine plus ASIC's legal costs over the embattled dairy giant's disclosure failures ahead of last year's profit downgrade.
The Australian Securities and Investments Commission took Murray Goulburn to the Federal Court alleging that from March 22, 2016 to April 27, 2016, the listed diary co-op failed to notify the ASX that it was unlikely to achieve forecasts it made in February.
Confirming the settlement agreed to between the troubled dairy processor and ASIC in November, Justice Davies said the penalty was towards the higher end of the statutory maximum, because of the "gravity" of breach, the "involvement of the senior level of management," and the "market impact and prejudice" it caused
The court found that MGRE contravened its disclosure obligations under section 674(2) of the Corporations Acton and from 22 March 2016, continuing until 27 April 2016 by failing to notify the ASX that circumstances had arisen a consequence of which was that, Murray Goulburn Co-operative Co. Limited (MG) was unlikely to achieve the forecast:
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<li>Available Weighted Average Southern Milk Region Farmgate Milk Price for the financial year ending 30 June 2016 of $5.60 per kilogram of milk solids; and</li>
<li>Full-year net profit after tax for the financial year ending 30 June 2016 of approximately $63 million, as stated by MG and MGRE in their ASX announcements dated 29 February 2016 entitled 'Murray Goulburn – Half Year Financial Results News Release' and 'Murray Goulburn – Half Year Financial Results Presentation.'</li>
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ASIC issued proceedings against MGRE in November last year.
MGRE admitted the contravention in a Statement of Agreed Facts and Admissions and the parties filed joint submissions for a declaration and a civil penalty to be imposed.
In handing down her judgment on Friday 15 December 2017, the Hon Justice Davies said "the penalty is towards the higher end of the statutory maximum but a penalty towards the higher end is warranted, reflecting the gravity of the contravention, the market impact and prejudice caused by the contravention, the involvement of the senior level of management in the contravention and failure of governance, and the inadequacy of MGRE's compliance policies at the time and the duration of the contravention."
ASIC Commissioner Cathie Armour said if an entity has previously given a profit forecast to the market and that subsequently changes causing its profit forecast to differ from that guidance by a material amount, it is crucial to inform the market immediately in order that investors are apprised with up-to-date information.
MG Unit Trust was officially admitted to the official list of the ASX in July 2015.
Murray Goulburn's previous management was responsible for destroying one of the greatest agricultural entities in Australia, Barnaby Joyce recently said.
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MG plans to sell its assets to Saputo, the owner of Warrnambool Cheese and Butter, and dissolve MG, Australia’s largest dairy co-operative.
 
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Murray Goulburn cops $650,000 fine over disclosure failures

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<img src="https://counter.theconversation.edu.au/content/57732/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It’s time for a fresh look at community and policy development in rural and regional NSW – one that will deliver rewarding jobs, a proper say for people in how they’re governed, decent infrastructure, access to essential services, and an enriching environment.
<h2>Looking after the land</h2>
Rural and regional NSW provides the state with much of its food, water and tourism opportunities, as well as crucial hidden services such as regulating the climate. Properly funding projects that preserve regional environments benefits all citizens, but can also help develop regional economies.
Regional NSW is well placed to become a leader in the farming, supply and production of renewable energy, so governments may wish to consider what policy levers are needed to incentivise investment in this area.
It’s also important we involve local experts in finding ways to improve land and water management in regional areas, sustainable agricultural and forestry practices, and develop well-managed protected areas that facilitate biodiversity conservation.
Fostering people’s connection with, and appreciation of, nature can achieve health benefits, facilitate tourism and recreation, and even boost mental health.
<h2>Creating a happy and healthy regional citizenry</h2>
It’s no secret there is a shortage of GPs and other specialist medical service providers in regional areas.
Mental illness prevalence rates are similar to metropolitan areas but there is a lack of mental health services in regional areas, and self-harm rates are much higher.
Mental health prevalence rates are similar to metropolitan areas but there is a lack of mental health services in regional areas, and self-harm rates increase with remoteness.
Addressing these shortages is important if we are aiming to create a happy, healthy and productive citizenry in regional NSW – and attract highly trained professionals to the regions.
<h2>Attracting highly skilled, mobile and trained professionals</h2>
It’s important that NSW develops better ways to attract highly skilled, highly mobile and highly trained professionals to its regions. In the past, organisations like the Bathurst-Orange Development Corporation gave concessions to industry in the short term to relocate to Bathurst. This model could be revisited more broadly.
Diversity and a culturally rich environment can serve as a strong selling point for urban and international migration to regional areas.
Welcoming and inclusive communities are more likely to retain highly skilled and professional migrants. We need creative campaigns that focus on the promotion of arts and culture heritage, healthy lifestyle, sport and outdoor activities, as well as educational opportunities available outside urban centres.
Regional and rural citizens are crying out for improved infrastructure – better roads and public transport, fast and reliable broadband and telecommunications would help attract high trained professionals to the regions.
Proper access to legal services
Citizens in some remote areas of NSW lack access to legal services, and it’s important that policy be developed according to local need in context (rather than a one-size-fits-all “solution”).
It’s crucial that governments plan to ensure a mix of legal services are available to regional and rural citizens. Both private lawyers and public services are needed.
It’s important that key government departments such as the Department of Education, Department of Family and Community Services and the Department of Primary Industries have a stronger and continuous presence in regional areas.
These agencies employ lawyers. Locating these key departments in regional areas also creates opportunities for country lawyers beyond private practice and ensures citizens are getting advice from local lawyers who understand the regional context.
<h2>Breaking down stereotypes</h2>
The urban mindset is preoccupied with an image of the regions as all hay bales and agriculture, as portrayed on television shows like The Farmer Wants A Wife.
The reality is much more varied and nuanced. Vibrant arts communities exist along side long-standing farming industries. While some regional areas have been on a relative decline, much of this has to do with growth in urban areas. Services are clustered in some regional areas, and found wanting in others.
Developing a more accurate picture of what life in rural and regional NSW is really like – through funding regional art communities, social links between urban and regional citizens, and developing more realistic social marketing – would go a long way to breaking down misconceptions about country NSW.
<h2>Inclusion and consultation</h2>
A courageous government could consider creating Regional Advisory Councils, made up of representatives selected across each region. These council members could be trained to use deliberative democracy – a form of collective discussion and decision-making – to help tackle complex problems in their local areas.
Lip service is not enough. It’s important that funding be made available to help implement projects that rural and regional citizens say their local areas need.
That means breaking down the traditional silo-based approach to funding, where we run the risk of allocating money to government departments or pet projects based on the ideas of centrally located decision makers. Importantly, governance and oversight mechanisms are needed to ensure there are not conflicts of interest.
Regional policymakers could harvest the vast amounts of data available to allocate funds based on where the need is greatest; making such data publicly available where possible is a key part of results-based accountability too.
<h2>What’s at stake?</h2>
Recent political events – think Brexit, the rise of Donald Trump and voter dissatisfaction with the major parties in Australia – have underlined how disenfranchised many regional and rural citizens feel in a rapidly changing world.
We need to ensure that regional and rural citizens are not left behind as advanced economies shift away from traditional manufacturing and toward a knowledge economy. Doing so will help preserve social and political harmony for all citizens.
Alison Gerard is associate professor in Law, Charles Sturt University and can be contacted <a href="https://theconversation.com/profiles/alison-gerard-12350" target="_blank">here</a>.
Branka Krivokapic-Skoko is economist and economic sociologist, Charles Sturt University and can be contacted <a href="https://theconversation.com/profiles/branka-krivokapic-skoko-285542" target="_blank">here</a>. 
Liz Reimer is lecturer in Social Welfare, Southern Cross University and can be contacted <a href="https://theconversation.com/profiles/liz-reimer-285543" target="_blank">here</a>.
All are authors for The Conversation.
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