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The clearance rate for property sales last weekend was 67% as racing’s Spring Carnival grabbed the spotlight.  
Across Melbourne, agents conducted 192 auctions with 95 properties sold at the drop of the hammer, 32 sold before and two sold afterwards. On top of these, 63 houses were passed in – 38 on vendor bids.  
There were also 506 private sales.
Total sales volumes for the auctions was $70.96 million and $246.91 million for the private sales.
Breaking the figures down further, 127 houses were auctioned for a clearance rate of 69%. The median price was $561,800 and the total value was $50.57 million.
Fifty-seven auctions of flats and apartments achieved a clearance rate of 68%. The median price was $506,000 and the total value was $19,384,000.  
Seven vacant land auctions achieved a clearance rate of 14%.
House sales in detail:  
TOP 5 HOUSES
{yoogallery src=[images/stories/2013/11/07/can]}
1. 13 Church Street, Canterbury $1,650,000 (pictured above)
2. 164 Nicholson Street, Fitzroy $1,450,000
3. 1 Morphett Avenue, Ascot Vale $1,120,000
4. 218 Station Street, Carlton North $1,042,000
5. 38 Oakpark Drive, Chadstone $1,030,000  
 
TOP 5 BARGAIN HOUSES
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1. 26 Drouin Street, Dallas $277,000 (pictured above)
2. 99 Third Avenue, Rosebud $311,000
3. 396 Station Street, Lalor $312,000
4. 9 Mirang Court, Frankston $312,000
5. 14 Bacchus Drive, Epping $316,500
 
TOP 5 APARTMENTS
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1. 1005/480 St Kilda Road, Melbourne $885,000 (pictured above)
2. 13A Andrews Street, Spotswood $830,000
3. 2/34 Evans Street, Moonee Ponds $765,000
4. 12/3 Rockley Road, South Yarra $750,500
5. 15 Hockey Lane, Ascot Vale $615,000  
 
TOP 5 BARGAIN APARTMENTS
<img alt="glen-waverley-nov-7-one" src="/images/stories/2013/11/07/glen-waverley-nov-7-one.jpg" height="353" width="470">
1. 123/270 Springvale Road, Glen Waverley $306,000 (pictured above)
2. 3/113 Noble Street, Noble Park $330,000
3. 1/201-209 High Street, Prahran $330,000
4. 108/8 Pottery Court, Brunswick $347,000
5. 3/246 Gilbert Road, Preston $390,000
 
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This week's most expensive and most affordable Melbourne auctions

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A surging Sydney property market could spoil the RBA’s New Year as it seeks to dampen demand for housing but not jeopardise the success of its low rates policies on the broader economy.
With this scenario comes another conundrum: If the bank does have to raise rates for this reason how will it continue its push against the unwelcome effects on exports of a high Aussie dollar?
RP Data national research director Tim Lawless told the Australian Financial Review that he expected the RBA to ‘’remain vigilant’’ – especially in regards to the Sydney and Melbourne property markets -where prices are rising faster than in other cities.
SQM Research director Louis Christopher was reported as saying the number of ‘’enthusiastic buyers, particularly in Sydney, was behind the shortage of housing stock on the market’’ compared to this time last year. He said Sydney’s stock levels were down a ‘’staggering’’ 17.3%, although traditional spring listings are belatedly coming onto the market.
‘’Will (the RBA) allow Sydney to gallop into 2014?’’ he asked. ‘’It will be interesting to see how they respond.’’
Analysts were not surprised at the central bank’s decision to hold rates at 2.5% after eight cuts in the past two years. Lawless said the low rates had had the desired effect of stimulating the housing market.
‘’Transaction numbers are close to 20% higher compared with a year ago and dwelling values across our combined capitals index have risen 7.9% over the past 12 months,’’ he told the AFR.
He said more buyers on the market were encouraging more housing construction, and that the RBA was comfortable with the level of capital gains in the housing market. ‘’The current rate of growth is well below the highs achieved over previous growth cycles and dwelling values across every capital city, apart from Sydney, remain below their previous peaks.’’
 
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Surging Sydney property market could spoil RBA's New Year

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The first new residential development in 40 years will allow investors to capitalise on the annual 19% house price growth at WA mining town, Tom Price.  
The Crawford Property Group has released six off-the-plan houses with three bedrooms and two bathrooms which are being marketed to attract the town’s residential workforce.  
The $759,000 houses, at 327 Warara Street, are expected to be completed next month. Demand from investors has been strong, with the six-property first stage of the development already sold out and another six to go in the second stage.  
Crawford suggests the houses could achieve yields of up to 15% with zero vacancy rates. They are expected to lease from $2,100 to $2,200 per week and are among two new developments in the town.  
Nicheliving Constructions – winners of the 2012 MBA award for Excellence in Building Innovation – will build the highly energy and acoustically efficient houses as full turn-key packages. They will have quality fixtures and fittings, open plan kitchens, dining and lounge rooms and hidden laundries. Bedrooms will have built-in wardrobes and the main bedrooms will have en suites.  
"Tom Price is a highly lucrative market but, until now, it has been fairly inaccessible to investors," said director Ryan Crawford. "It plays an integral role in Rio Tinto’s and FMG’s iron ore operations in the area and the increasing workforce has helped the population to double to 5400 in just six years.  
"However, until 2011, there had been no new land releases or residential development for nearly 40 years."  
Pressure on housing has raised prices, and the 10 year average annual house price growth rate is 19%. In this, Tom Price’s performance has been consistent with other Pilbara towns, but a lack of new supply has restricted investor access.  
Crawford says the development takes advantage of the town’s zero vacancy rates, higher than average rental returns and strong predicted capital growth.  
"And, with both Rio and FMG ramping up production and flagging possible expansions, the projected continued workforce increase means pressure on house prices and rental accommodation is expected to remain strong."  
A Regional Development Australia report says Tom Price had a dwelling shortfall of 259 homes in 2012 and will require between 271 and 471 new homes by 2015.  Only 37 residential lots were released in 2011 and no further land releases have been announced.  
At 747 metres, Tom Price is the highest town above sea level in Western Australia. The resources boom has helped it become the most affluent non-metropolitan region in Australia, with the average Rio Tinto employee's wage being significantly higher than the Australian average.  
The median age of 29 reflects Tom Price's relatively young family-oriented community. The town is named after Thomas Moore Price, vice-president of the US based Kaiser steel company. It is the closest town to Karijini National Park and is serviced by the Paraburdoo Airport.        
 
 
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Tom Price gets set for first residential development in 40 years

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Lower interest rates and surging property markets – particularly in Melbourne and Sydney – are helping loan providers reap rewards.
Aussie Home Loans last month reached the $2 billion milestone in home loans lodged through its three distribution channels: mortgage brokers, retail outlets and aggregator subsidiary National Mortgage Brokers (nMB). The group’s 150 retail stores broke through the $1 billion milestone for the month in loans provided to new buyers, re-financers and investors.
The $2.1 billion group result for October represents a 22.1% lift above October last year. The news was reported in Australian Broker Online.
This follows news that <a target="_blank" href="/news">more than $4 billion in home loans was processed last month by AFG</a>, Australia’s largest mortgage broker – the first time its national 1,900 brokers have collectively broken through the $4 billion mark.
The $4,057 million figure is 12% higher than the $3,624 million processed the month before, which was itself a record. The October 2013 figure is 30% higher than October last year, and 61% higher than October 2011, showing how far the mortgage market, and broader economy, has recovered over the past two years.
Aussie chairman and founder, John Symond, says the retail result is a standout, as Aussie only established a substantial retail arm following the acquisition of Wizard Home Loans in 2009.
“This result is due to the hard work of the entire Aussie Group and demonstrates that volumes are returning to a more healthy market condition as buyers take advantage of low interest rates,” he said.
On the back of the growth, Aussie is on the expansion trail with a recruitment drive for former real estate and finance executives to become mobile brokers and franchisees of new stores.
“We’ve seen substantial growth across our three distribution channels and are keen to find new brokers and franchisees to join our successful and winning team”, Symond said.
Aussie’s total loan portfolio is worth $57 billion, including aggregator nMB, which was acquired by Aussie in 2012.
“All three of our distribution channels are firing and we see no reason for our growth to slow, as interest rates continue to bump along the bottom and our operations are becoming more efficient and effective in servicing our new and existing customers.”
Meanwhile, mortgage delinquency rates in excess of 30 days in the Australian prime residential market dropped to 1.35% in August, down from 1.39% in July, according to Moody’s Investors Service’s Global Structured Finance Collateral Performance Review.
However, the August figure is up from the same time last year (1.24%), but analysts remain optimistic, says Australian Broker Online.
“Looking ahead, we expect the performance trends witnessed to date in 2013 to continue with stable delinquencies, underpinned by expected GDP growth of 2.0% to 3.0%, the current low interest rate environment, and a steady unemployment rate of 5.0% to 6.0%” says Jennifer Wu, vice president and senior credit officer at Moody’s.
The report says Australian prime 60-day-plus arrears in August, at 0.76%, also compare favourably to all economies covered in the report, except for Japan’s (0.29%).  
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Aussie Home Loans joins AFG as loan providers reaping the rewards of low interest rates

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First home buyers are struggling to buy property because of a lack of savings, not because of competition from property investors, according to a survey by mortgage broker Loan Market. 

 
In an online survey, its 450 brokers were asked: ‘What is the No.1 issue keeping first home buyers out of the market. 68% of brokers blamed low deposits and savings and 21% blamed a lack of government incentives. 

 
Loan Market director Mark De Martino said that with the property market running hot, first home buyers were competing with other buyers armed with equity and savings. However, with the right preparation and guidance, first home buyers could level the playing field, he said. 

 
“The biggest disadvantage most first home buyers have is they’re often younger and haven’t had the same amount of time to build up equity and savings as those purchasing their second or third homes,” De Martino said. 

 
“What first home buyers need to do early is save for a deposit. A larger deposit doesn't necessarily mean you can borrow more and buy a bigger property, it means you can have equity in your home from day one and also avoid loan costs like lenders mortgage insurance,” he said.  

 
De Martino said most first home buyers at Loan Market were meeting with a mortgage broker before they started inspecting properties. This means they can understand how certain loan products work and the savings they can make if they have a bigger deposit. 

 
“A variety of loan products benefit first home buyers, however, they aren’t all equal and depend on your savings level. The product you initially thought was for you, may not be as competitive if your deposit size changes,” De Martino said. 

 
De Martino stressed the importance of first home buyers getting pre-approval for a home loan before they start their property search. 

 
“Pre-approval gives a first home buyer the confidence to attend an auction and bid on it with the peace of mind that they can afford the property and the repayments,” he said. 

 
Only 6% of the brokers surveyed said property investors were the main reason first home buyers were being kept out of the market. 

 
“Property Investors certainly have the benefit of existing equity in their home and certain tax advantages. First home buyers can best compete with them by building up their savings and deposit sizes,” De Martino said.  
 
 
 
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Savings holding back first home buyers

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AMP Capital Markets chief economist Shane Oliver expects the Reserve Bank to leave interest rates on hold today, with some positives – such as HIA figures showing an improvement in the housing market and in new home sales - pointing to a rise in market confidence.
"There are signs the jobs market might be bottoming out, yet CPI inflation figures are a bit higher than expected - although they are in the mid-point of the target range," he said.
"There’s not enough evidence for a cut so the reserve will sit on its hands next week. It’s more likely we’ve seen the bottom of the rate cuts cycle and, in a year’s time, we may be going the other way. The housing industry is a good bellwether for all this and, with it rising, the scene looks a whole lot better."
Oliver said variable interest rates took their lead from the cash rate whereas fixed rates were affected by other factors, such as Commonwealth government bonds, which have been rising over the past year to just over 4% now. This has increased the banks’ long-term borrowing costs.
He said it was always the case that historically low interest rates "were never going to be sustained". As long term bond rates go up, banks lending at fixed rates over, say, three years would be faced with the prospect of being caught by a rise in the official cash rate, pushing up interest rates and making their loans unprofitable.
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Shane Oliver predicts RBA to leave interest rates on hold

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A lifting of fixed-term mortgage rates by the big four banks has startled the market.
Pre-empting the Reserve Bank’s regular monthly meeting next Tuesday, the Commonwealth Bank, NAB, ANZ and Westpac each raised some of their rates, possibly in response to higher borrowing costs on the wholesale market.
The Commonwealth’s three-year fixed term rate remains steady at 5.09%, while its four-year fixed rate rose 0.20% to 5.74% and its five-year fixed rate also rose 0.20% to 5.84%.
Westpac’s three-year term rose yesterday from 4.99% to 5.19% while its four-year fixed rate is steady at 5.49% and its five-year fixed rate is also steady at 5.79%.
National Australia Bank lifted its fixed term rates on Monday: Three years fixed rose 0.20% to 5.19%; four-years fixed is steady at 5.64% and five-years fixed rose 0.24% to 5.79%.
The ANZ raised its three-year fixed rate from 5.14% to 5.34% on Friday. It did not change its four or five-year fixed rates. A staffer said rates "could go up or down depending on what’s going on in the market".
Neither IngDirect, Bankwest, St George or UBank had made any changes, staffmembers said.
Buyer’s advocate Todd Hunter, of the wHere Group, said he had put out a notice to alert his clients to the rises, which may have been prompted by the banks "Probably not being able to find money as cheap anymore".
"This is probably the right time to fix," he added, saying rates – even after the rises – are "still looking very attractive". He recently locked in his loans at 4.99%.
"Money is still cheap and anything under 5.5% is extremely low and you’ll be doing well."
Although he "can’t foresee any dramatic movements in the variable rate", Hunter admitted he is not sure what the market is going to do next. "It’s safer to wait until after Tuesday’s meeting. But if the big four go up it’s a sure bet the smaller banks and building societies will follow."
One thing’s for sure, if the Reserve Bank on Tuesday does cut mortgage rates, the banks which raised their rates will look greedy, even though fixed rates are usually higher than variable rates.
Hunter said average variable rates over the past 10-15 years were in the mid-sixes "although there have been plenty of ups and downs in the meantime".
One reason the Reserve Bank may hold rates is concern over unemployment, currently sitting at 5.6%  according to the Australian Bureau of Statistics. The participation rate, which is the proportion of people in work or looking for work, fell to 64.9%, the lowest level since November 2006.        
Jessica Darnborough, of Mortgage Choice, said she expected a few more rate movements across the board but "only slightly" and not in November.
"The yield curve was at historic lows recently but it’s now on the way back up so we may see more movements in the fixed arena."
Although not into "crystal ball gazing" Darnborough said she would be surprised if the RBA raised rates on Tuesday. However, fixed rates are affected by other external factors and she sees a "little bit of a trend" for upward movements in that category.
Optimistically, she said: "The banks are still competing for market share, so we may see downward movements against trend."
The banks’ three-year fixed term is said to be the most popular.
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Big four banks lift rates, startle the market

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Public and private investment for Fremantle is edging towards $1 billion - thanks to what the city believes are sensible amendments to its town plan.
This has pleased the Property Council of Australia, which says the revised scheme allows for greater density in key locations in the CBD and with developments currently in the pipeline. These include the flagship Kings Square project - more than 22,000 square metres of A-grade office space and more than 11,500 square metres of retail space expected to be built within five years.
Other uses are in the mix, including residential, hotel and short-term accommodation, entertainment and civic spaces.
The council said that, in recent years, there have been more development application approvals and building approvals in Fremantle than in any equivalent period since 1987.
Fremantle’s mayor, Dr Brad Pettitt, said the aim of revising the plan was to ‘’bring more people back into the heart of our city to live, work, shop and to be entertained”.
The city set about addressing the low levels of investor interest in Fremantle via an award-winning economic development strategy finalised in 2011. The strategy outlined ‘’ambitious but achievable’’ targets for the development of residential dwellings, as well as commercial office and retail floor space in the CBD.
Pettitt said that, while there was still a lot of work to do, there was now a good level of interest from investors and plenty of projects under construction.
“I’m more confident than ever that Fremantle is on the cusp of a generational change which will produce the sort of high-quality sustainable infrastructure that our community needs and deserves,” he said.
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Fremantle investment edging towards $1 billion, city thanks town planning amendments

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Gladstone Regional Council will receive $12.5 million from the Royalties for the Regions program to upgrade the Kin Kora roundabout.
The Deputy Premier and Minister for State Development, Infrastructure and Planning, Jeff Seeney, said the funding would go towards upgrading the roundabout to a four-way signalled traffic intersection.
“Gladstone has experienced significant growth as a result of new residents servicing the resources sector, which has caused traffic congestion to worsen,” Seeney said.
“This project will address traffic congestion and improve safety at the junction of Philip Street and the Dawson Highway.
“The entire project will cost around $25.4 million, and Royalties for the Regions will inject $12.5 million.”
Seeney has championed the Royalties for the Regions program designed to give communities a fair share of royalties from resources for the first time. It is used to improve local amenities and services.
“I am proud of the program, as well as the Newman Government, for helping local governments and regional communities manage the impacts of rapid growth in the resource sector,” he said.
Gladstone Council will submit a business case for the project to have the funding confirmed by the end of the year.
Royalties for the Regions will spend $495 million over the next four years on community infrastructure, roads and flood works.
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Gladstone to receive $12.5 million from Royalties for the Regions

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Geelong didn’t win the AFL premiership like it often does, and a spate of well established companies have been shedding hundreds of jobs over the past 12 months, but there’s no dampening the city’s enthusiasm or prospects for growth.  
Property prices are holding, and new companies are establishing, such as the first stage of the disability care agency for the National Disability Insurance Scheme, in July. The state government will spend around $300 million on the scheme to employ around 300 people by 2016 plus another 150 at the regional Barwon office.  
And Epworth HealthCare and Deakin University are building a 394-bed joint teaching hospital at Waurn Ponds with 1,100 effective full time positions and around 1,000 construction jobs.  
So, things are certainly not all doom and gloom.  
{yoogallery src=[images/stories/2013/10/29/gee]}
Photos: <a id="yui_3_11_0_3_1383023778610_916" href="https://www.flickr.com/photos/sondyaustin/">Sandy Austin</a>/flickr
Dr Andrew Wilson, senior economist for Australian Property Monitors, describes Victoria’s second largest city as a "great survivor" well able to handle economic ups and downs. "Geelong has kept its head up, and, overall, employment prospects remain good despite concerns about manufacturing – such as the closure of Ford.  
"There are lots of advantages in living there: Geelong’s the gateway to the ‘sea change’ lifestyle, it’s far less expensive that Melbourne, and those that choose to commute to Melbourne offset that against the more relaxed lifestyle there.
"Even the closure of Ford could be a strength: the government will no doubt provide assistance for the local economy and Avalon will become Melbourne’s second international airport providing jobs and possibly more manufacturing."  
"Demand for real estate in the seaside city has ‘’never looked better," according to local Barry Plant agent Tim Palioudis. "At the moment the market is the best it has been in a long time."
Palioudis, a director for the past three years, disagreed that job losses were a catalyst for a depressed property market. "Job losses can seem a lot worse than they really are," he said. "People often move to different areas of a company when one part closes down, but that doesn’t show up in the headlines."  
Median prices for Geelong are around the high $300,000s for an average three-bedroom house on 600 square metres. Median unit prices are in the low-to-middle $300,000s.  
Prices for those in better areas, such as Newtown - "our Toorak" – start at $600,000 for a renovated terrace house and can go well above $700,000. The age of houses is no deterrent, with 80 and 90-year-old Victorians and Edwardians attracting strong buyer interest.  
Palioudis said growth areas included the old golf course in North Geelong which has been subdivided, as well as Hamlyn Heights and Herne Hill which have views of the bay.  
He said Geelong had multiple demand factors, including the expansion of Deakin University, tourism, the bay, affordable housing in comparison with Melbourne and proximity to the capital.  
Nick Lord, of Maxwell Collins, anticipates a limited impact from the closure of the Ford plant. He said Geelong has grown to have strong employment in areas such as education and health "to name just a few".
He says the city has changed over the recent years with people "continuing to commute to Melbourne for work while enjoying the Geelong lifestyle".  
Ben Young, a commercial and industrial agent with Colliers International in Geelong, said these were "definitely interesting times" for retail and industrial letting in the city. "CBD retail is slow with the impact of online shopping and the after effects of the Westfield expansion around Malop Street and the market Square shopping complex," he said.  
"But the best investments are still a good tenant and a strong lease."
Young said there had been a "strong push" in the commercial/industrial market up until the election but this had slowly abated. Most of his deals are in the 200-600 square metre bracket with a wide mix of tenants and purchasers.  
The Waurn Ponds and Armstrong’s Creek growth areas were doing well, he said, "but without the volume out of Melbourne developers were expecting".  
Young said the city’s best retail strips – Pakington Street, Geelong West and High Street, Belmont – were "doing well" with leases of 50 square metres to 200 square metres proving to be solid investments. Yields are around 4.5%.  
The exit of the ‘three majors’ – Ford, Alcoa and Shell – has been counteracted to a certain extent by the arrival of other employers: the expansion of Deakin University, the Epworth Hospital/Deakin University training facility at Waurn Ponds, expansion of John of God Hospital and the arrival of a vehicle wheel maker who uses carbon fibre technology.  
"Coastal retail is flat, with landlords after high rates that are hard to achieve in a seasonal trading period."  
Young said this was "a good time to be buying in the Geelong CBD. I see growth, especially in retail and refurbished office markets. Rates will continue to climb."  
Hotspotting.com.au’s Terry Ryder – a big believer in the potential of regional city property markets for growth - provided they have diversified economies - says new ventures in the pipeline will counter-balance the economic impact of the closure of Ford and other potential job losses in Geelong.  
These include the Regional Rail Link and the plan to make Avalon the second international airport for Melbourne.  
Ryder says Geelong will continue to have "strong future as an affordable lifestyle alternative to Melbourne, with improving transport links to the city".  
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Suburb spotlight: Not all gloom and doom for Geelong

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Stephen Taylor

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