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Trent Cattanack, of Harcourts Redcliffe, is bemoaning the lack of stock for sale in this picturesque suburb north of Brisbane, with listings down 35% since May.
On the plus side he says there’s an improved time-on-the-market figure which is down from 100 days to 30/40 days as vendors ‘’come to the party’’ with more realistic price expectations.
Originally named Red Cliff Point by explorer John Oxley, the suburb became the state’s first colony in 1824. Although later abandoned for Brisbane it became a popular holiday resort from the 1880s because of its proximity to the capital and natural attributes.
An ideal climate, sandy beaches and appealing scenery provides an ideal living environment for families, yet decent houses can still be bought for less than $300,000, Cattanack says.
With generally older housing stock and a stable population – ‘’many residents have been here 40-plus years’’ – he says gentrification is coming with one developer having five projects and hundreds of apartments in the pipeline.
High rise is not a feature of the suburb so far with building heights of around eight storeys at Redcliffe Towers, at 89 Marine Parade, and Warwick Tower, at 51 Marine Parade, both built in the mid-1970s. Currently, Redcliffe has a height restriction of 12 storeys along Redcliffe Parade in the CBD area.
A catalyst for development is that Redcliffe is well located about 45 minutes drive from Brisbane across the Hornibrook bridge, erected in 1935, and a 25 minute drive from the airport.
The suburb has a musical claim to fame, too: in 1958, the Gibb family with children Barry, Robin and Maurice, emigrated from Manchester, England to live there for a time before becoming the world renowned The Bee Gees singing group.
Andrew Wilson, of Australian Property Monitors, believes Redcliffe is at the start of a growth phase. In the six months to September this year he points out that median house prices rose 2.9% to $339,500 but, over the full year to September, they fell 2.2%.
The Redcliffe median is 14% down on its 2009-2010 high, as are a number of northern suburbs, such as Moreton Bay, which is down 8%.
‘’It’s a middle suburb and most Brisbane middle suburbs lost ground over the past three years,’’ he said.   ‘’We are in catch-up mode and at least 12 months from another peak. There is not a lot of buyer interest in inner Brisbane, but it is improving and Redcliffe will benefit from the peripheral interest being shown there.’’
The growth forecast is well founded. A combination of improved levels of affordability, lower interest rates, a state election next year, and a lower Australian dollar are all tipped to improve the performance of the Brisbane property market next year. Redcliffe will follow.
‘’There are some signs of improvement off a low base,’’ Wilson said. ‘’The market will flow out to the north of Brisbane but I am looking at a 12 month horizon. It’s a holiday area – a boutique market on the Redcliffe Peninsula – and it’s nominally a working class suburb despite its holiday appeal.’’
{yoogallery src=[images/stories/2013/12/05/red1]}
Above: An example of a current listing, <a href="https://raywhiteredcliffe.com.au/qld/redcliffe/1064719/" target="_blank">33 John Street, Redcliffe, Queensland</a>
Andrew Campbell, of Ray White Redcliffe, said properties were experiencing a shorter time-on-market recently, which was acting as a catalyst for quicker sales. ‘’Potential buyers ring up and the first thing they ask is: ‘Is it still available’?
‘’The shorter time frame window is prompting them to put in an offer and, hence, properties are selling more quickly.’’
The region’s average is 74 days on market and the agency’s average is 45 days.
Campbell, who’s been with the office since it opened in May last year, admits to some surprises, saying ‘’anything that’s priced right could be sold within seven to 10 days of listing’’.
Stock ranges in price from the high $200,000s to $1.5 million, with the average property listing for around $400,000. ‘’There have been no huge price increases lately but, with the less time-on-market factor, we have noticed that buyers are willing to pay a bit more.’’
Commercial sales and leasing are not a big part of the business, and with the economy picking up, people are becoming more financially stable, Campbell said. This is reflected in the few commercial leases becoming available.
You can check ou the latest RP Data stats for Recliffe <a href="/news">here</a>.
<a href="mailto:staylor@propertyobserver.com.au" target="_blank">staylor@propertyobserver.com.au</a>
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Suburb spotlight: Growth phase tipped for Redcliffe, Queensland

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A proposal by the Australian Taxation Office to slug families 10% extra tax for living in permanent caravans has been slammed by Queensland Premier Campbell Newman.

He has called on the Federal Government to reject the plan, saying it would add $15-$30 per week to rents – $1,000 per year – ‘’that they simply cannot afford’’.

The ATO plan is to add GST to rents paid by the 30,000 Queenslanders who live in permanent caravans and demountable homes across the state’s accommodation parks.

“I’ll be making it clear to the Federal Government that adding GST to the rent paid by families on their permanent caravans in parks is just not on,” Newman said.

“This draft plan earmarked by the ATO is unfair and the Queensland Government is calling on Joe Hockey to reject it immediately to give these people certainty.

“The GST paid by these residents would ultimately filter back to the state’s budget, but in this case, I‘ll be saying we don’t want it. 

“Families living in these dwellings shouldn’t be hit with this burden while others living in an apartment or a house are exempt from paying GST on their rent – it’s just not fair.”

Newman said residents would have to pay $20,000-$50,000 to remove their home from a park should they disagree with the increase.

The draft ATO ruling would apply to mixed-use parks which have both long-term residents and temporary sites for caravans or tents.

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Plan to slug caravan rents extra 10% GST slammed by Premier

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Capital city home values are increasing at their fastest pace in three years, according to the latest RP Data quarterly review of the residential property market.  
The report found that, over the three months to October, home values across the combined capital cities rose by 3.4%, and that combined capital city home values have been trending higher since they reached a low in May last year. They have increased by 10.2% since then.  
Home values across all capital cities have risen by 7.9% over the past year, and, over the 12 months to October, house and unit values have risen by 8.2% and 5.9% respectively.  
Over the past three months, both house and unit values have increased by 3.4%.  
<img alt="rolling-nov-28-one" src="/images/stories/2013/11/28/rolling-nov-28-one.gif" height="231" width="470">
Annual change in dwelling values – year ending Oct ‘13
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Capital city home values are increasing at their fastest pace in three years

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Party politics has trumped what is best for the NSW economy and the need to adequately cater for population growth, according to the Urban Development Institute of Australia (NSW).
This follows a host of amendments to the state’s planning bill which the UDIA says “spell disaster for NSW’’.
“In their pursuit to discredit each other, politicians have lost sight of the big picture,” chief executive Stephen Albin said.
“The NSW population is projected to more than double over the next 50 years, according to figures released on Tuesday by the Australian Bureau of Statistics.
“Instead of catering to this growth, MPs are considering how to stop growth by making unreasonable, uncommercial and uncompetitive amendments to the Bill – it makes no sense.’’
Albin said more people would be needing jobs that come from construction and businesses within new commercial centres, and housing. “We need to deliver more than 40,000 more homes per year to keep up with demand.
“Industry can’t supply these homes under the current Act because outdated and impractical processes make it incredibly challenging.”
Albin said the amendments proposed by other parties would put the state in an even worse position. “The amendments proposed by the Opposition threaten to take NSW even further back to dark ages,” he said.
“To think that someone living 10km away could challenge your home extension in the Land and Environment Court is absurd. And to require a developer to improve - not retain - biodiversity on a site is equally unreasonable.”
Albin said NSW already had “the most uncompetitive approval system in Australia’’ and that much of the recent recovery in the market had been a result of expectations that changes were ‘’going to be made’’.
“Overall, the situation we find ourselves in is bad for industry and first home buyers who are already struggling to get into the market and our economy.”
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Amendments to NSW planning bill "spell disaster" for the state: UDIA

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Sales activity in the Inner Brisbane apartment market maintained momentum throughout the third quarter of this year, according to Colliers International.
Its research and forecast report for the second half of 2013 shows unconditional sales reached their highest point in nine years - with 645 sales recorded across 48 projects. And this figure is expected to be revised upward after including settled sales in projects where surveys were incomplete.
<img src="/images/stories/2013/11/28/bris-stock-nov-28-one.gif" alt="bris-stock-nov-28-one" height="371" width="470">
Activity levels have remained elevated since the first quarter of the year, with both a significant number of project releases and increased sales activity.
In the 12 months to the end of September around 2,300 unconditional sales were well above the median long-term average. Although annual sales are still dominated by the Inner North, the Inner South, and to a lesser extent the Inner West, have reclaimed a significant proportion of demand in 2013 as a result of new project releases, the report said.
Prices have remained largely unchanged over the past 12 months. The September quarter’s weighted average sale price of $532,900 was 4% less than quarter two and 1% less than the same period in 2012. Largely a factor of stock type sold, the quarterly decline may be due to a higher proportion of one bedroom apartments sold in the September quarter than in June.
On an annualised basis, the weighted average sale price was $531,100 - virtually unchanged from quarter two 2013. The type of apartments still for sale in existing projects suggest the quarterly weighted average sale price may rise in coming quarters.
Underlying fundamentals support the Inner Brisbane apartment market. The lowest cash rate in our history combined with firm rents, low vacancies and a preference for inner city living - among a range of demographics - has led to increased demand.
Notably, the report says, apartments made up 95% of all approvals in the year to quarter three 2013 in Inner Brisbane. Investors are active in the market as dwelling prices remain stable and rents firm leading to rising income returns. Yields for Brisbane apartments are now well above the national average, according to RP Data-Rismark.
Developers and marketing agents report interstate buyers favour Brisbane as a desirable investment opportunity as strong price growth in Sydney and Melbourne erodes gross yields in those markets.
Should the southern capitals, Sydney in particular, sustain current levels of price growth, investors will be further attracted by the returns offered in the Inner Brisbane market.
Looking ahead, the report says around 3,200 apartments are due for release next year. As in the preceding 12 months, take-up may be moderate to firm provided demand fundamentals remain stable. Developers have identified this underlying demand and, subsequently, entered a site acquisition cycle in the past six months.
The Reserve Bank’s cash rate setting should remain ‘’accommodative’’ to household lending, the report says, as a result of the moderated economic forecast for 2014/15 that, in turn, should support apartment prices in Inner Brisbane. However, if growth in Sydney continues at an ‘’unsustainable’’ rate, the RBA may have to adjust its settings accordingly, albeit for a short period.
Sales activity in the Inner Brisbane apartment market maintained momentum throughout the third quarter of this year, according to Colliers International.
Its research and forecast report for the second half of 2013 shows unconditional sales reached their highest point in nine years - with 645 sales recorded across 48 projects. And this figure is expected to be revised upward after including settled sales in projects where surveys were incomplete.
Activity levels have remained elevated since the first quarter of the year, with both a significant number of project releases and increased sales activity.
In the 12 months to the end of September around 2,300 unconditional sales were well above the median long-term average. Although annual sales are still dominated by the Inner North, the Inner South, and to a lesser extent the Inner West, have reclaimed a significant proportion of demand in 2013 as a result of new project releases, the report said.
Prices have remained largely unchanged over the past 12 months. The September quarter’s weighted average sale price of $532,900 was 4% less than quarter two and 1% less than the same period in 2012. Largely a factor of stock type sold, the quarterly decline may be due to a higher proportion of one bedroom apartments sold in the September quarter than in June.
On an annualised basis, the weighted average sale price was $531,100 - virtually unchanged from quarter two 2013. The type of apartments still for sale in existing projects suggest the quarterly weighted average sale price may rise in coming quarters.
Underlying fundamentals support the Inner Brisbane apartment market. The lowest cash rate in our history combined with firm rents, low vacancies and a preference for inner city living - among a range of demographics - has led to increased demand.
Notably, the report says, apartments made up 95% of all approvals in the year to quarter three 2013 in Inner Brisbane. Investors are active in the market as dwelling prices remain stable and rents firm leading to rising income returns. Yields for Brisbane apartments are now well above the national average, according to RP Data-Rismark.
Developers and marketing agents report interstate buyers favour Brisbane as a desirable investment opportunity as strong price growth in Sydney and Melbourne erodes gross yields in those markets.
Should the southern capitals, Sydney in particular, sustain current levels of price growth, investors will be further attracted by the returns offered in the Inner Brisbane market.
Looking ahead, the report says around 3,200 apartments are due for release next year. As in the preceding 12 months, take-up may be moderate to firm provided demand fundamentals remain stable. Developers have identified this underlying demand and, subsequently, entered a site acquisition cycle in the past six months.
The Reserve Bank’s cash rate setting should remain ‘’accommodative’’ to household lending, the report says, as a result of the moderated economic forecast for 2014/15 that, in turn, should support apartment prices in Inner Brisbane. However, if growth in Sydney continues at an ‘’unsustainable’’ rate, the RBA may have to adjust its settings accordingly, albeit for a short period.
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Brisbane market maintaining momentum, backed by lift in demand

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All sectors of the Australian property market recorded price rises over the past year, with the ‘middle market’ reaping the strongest gains.
According to RP Data’s latest quarterly review of the residential property market, over the 12 months to October, home values across the broad ‘middle market’ suburbs had the greatest value growth at 8.1%.
Also, the most affordable and most expensive capital city suburbs each recorded value growth of 6.7% and 7.4% respectively over the past year.
And, over the past three months, home values rose across all sectors with affordable suburbs recording value growth of 2.1%, the middle market 3.4% and the most expensive suburbs 3.8% growth.
 
<img alt="rolling-nov-28-two" src="/images/stories/2013/11/28/rolling-nov-28-two.gif" height="231" width="470"> 
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Australia's 'middle market' reaping the rewards of price rises

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Although Brisbane and Gold Coast are two very different markets, they are both moving in the same direction – and that is upwards.
Colliers International’s research and forecast report for the second half of 2013 says sales rates are improving and general sentiment is positive. The new apartment market is definitely picking up the pace.
Lynda Campbell, manager research, says key factors all bode well for investors and owner-occupiers to take advantage of the affordable loans on offer.
She says residential vacancy rates are tightening which puts upward pressure on rents, interest rates are at their lowest level in decades, dwelling approvals are rising and the population is increasing.
And, the latest figures from the Australian Bureau of Statistics show housing finance for owner occupation and investment purposes are trending upwards.
‘’While the Gold Coast is just lifting off the bottom of the property cycle, Brisbane is well on its way with elevated sales rates throughout the year resulting in total sales for the 12 months to the end of September of 2,300,’’ Campbell said.
‘’Total sales on the Gold Coast for the same period are just over 700. Both markets are tracking above five-year-average figures, with Brisbane significantly above and Gold Coast just starting to gain traction.’’
Campbell said new projects recently launched in Brisbane are achieving strong sales rates while, on the Gold Coast, new projects are scarce. Going into 2014 this should change for the Gold Coast with several projects expected to be launched late this year and early 2014.
‘’Both Brisbane and the Gold Coast have a strong pipeline of future supply. With sentiment improving and key indicators positive, developers will start to move forward with projects that may have been on the back burner for several years,’’ she said.
‘’At the same time, projects which have been on the market for a number of years are starting to see an increase in sales rates and stock is being taken up at a faster rate than over the last few years.’’
Major infrastructure projects under way in both Brisbane and the Gold Coast will have a positive impact on residential markets. ‘’On the Gold Coast the $1.8 billion light rail project will create a corridor of transit oriented developments through the suburbs of Southport, Surfers Paradise and Broadbeach,’’ Campbell said.
‘’In Brisbane, the newly proposed underground rail and bus network, to cost $5 billion, will deliver a double-decked tunnel connecting Dutton Park in the south and Victoria Park in the north. These projects will see connectivity around both cities improve.’’
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Brisbane and Gold Coast trending upwards

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The capacity of international social media to enhance real estate agents’ property sales successes cannot be overestimated. It’s a resource of infinite reach and potential - and it carries details of their offerings right into willing buyers’ homes.
Coupled with this, there are almost unlimited numbers of potential buyers out there – often wealthy Chinese – who want to see and read about property of all descriptions and for almost any price.
And one country in which they are especially interested in buying is Australia.
To make social media work well, it helps to understand exactly how it fits into the online marketing process, which is where a new e-book: ‘7 Ways to Improve your International Social Media Marketing’, can help.
The author is Andrew Taylor, co-CEO of Juwai.com, who has 10 years experience in marketing and media in print, online, television and radio brands across Australasia and Pan-Asia. He was a company director and greater China country manager for REA Group, and led its acquisition and growth strategy for Asia.
As co-founder - with Sue Jong - and co-CEO sales and marketing at Juwai.com since 2010, Taylor devotes his time to market research and developing the business. He introduced world first research on Chinese property buying behaviour, the results of which went in the Juwai.com messaging and branding.
The depth of his China research, consumer market insight and property industry expertise, is now channelled into the valuable intelligence provided to customers looking to reach Chinese property buyers.
Jong is is Juwai.com’s international marketing manager, driving marketing and branding efforts and bringing relevant research and insights on Chinese buyers to customers worldwide.
Central to sales success is the “conversion process”, Taylor says.
“That’s because it’s how you ‘convert’ a random web surfer into a member of your mailing list or an out-and-out lead.
“Let’s start on the outside and work our way in. Let’s say a mainland Chinese woman named Chu Lam is considering buying an investment property. She wants something in the $5 to $10 million range, within an hour of an international airport and with oceanfront views.
“Lam hits Weibo, the Chinese version of Twitter, and searches for, ‘luxury beach property’. Because you have been active on Weibo, her search results include a couple of your recent waterfront listings. There is also a link to our e-book on your website entitled, ‘5 Tips for Choosing a Beachfront Property’. 
 
“As a good manager, you had juwai.com translate and localise both your website and your e-book into Chinese. Lam submits her email address to you on the registration form to receive the e-book. Now you have her email address. And, you know she is interested in beach-front property.
“You follow up with an email the next day. You offer to talk her through the recent beachfront sales in your area, so she can get  a better idea of the market. And, you continue to build the relationship from there – the same way you would with any lead.’’
That is how social media fits into the online ‘conversion’ process – or the process of converting inquiries to sales.
Language barriers are overcome by:
<ol>
<li>The agent or the buyer asking the Juwai.com multi-lingual call centre and account team for free help. The staff will translate communications, answer questions and, in other ways, help the agent build a relationship with the buyer. Staff can even make a phone call for the agent if he/she is having trouble reaching a number in China. Juwai.com claims to be the only real estate portal in the world with a call centre.</li>
<li>The company says many Chinese buyers will have the communications issue in mind when they start looking for property in Australia. They may have a colleague or a friend or family member who speaks English, and they often ask them to help. “For example, an agent in Mosman last year sold two plots of land to a Chinese buyer who didn’t speak English. The buyer sent a Sydney-based, English-speaking colleague to check it out before he flew into town to buy it,’’ Taylor said.</li>
</ol>
<ol start="1"></ol>
<ol></ol>
In the e-book the introductory content is for real estate marketers who are relatively new to the subject. This content includes step-by-step instructions on how to get started with this aspect of marketing and learn its fundamentals. “After reading it, they will be able to execute basic marketing tactics related to working with Chinese buyers,’’ Taylor says.
 
The intermediate content is for those familiar with the subject but who have only basic experience in executing strategies and tactics on the topic. This content covers the fundamentals and moves on to more complex advice and examples. After reading it, agents are expected to feel comfortable with this aspect of marketing to Chinese buyers.
 
The advanced content is for real estate marketers who are, or want to become, experts. “We walk you through advanced features and strategies so you can develop full mastery,’’ Taylor says.
“After reading it, you will feel ready not only to execute strategies and tactics for yourself, but also to teach others and even lead entire teams, businesses or networks to success with Chinese buyers.’’
Taylor says social media lets sellers connect with potential real estate buyers, wherever in the world they are located.
“Once you have a connection with these buyers, you can pull them forward into your marketing process, bringing them to your website, or getting them to contact you. Buyers who find and contact you directly via social media tend to be closer to a purchase than other prospects.’’
He says international buyers make up an increasingly important share of real estate transactions. And it’s not just in the traditional cities like New York, London and Sydney. “Wei Gu, of the Wall Street Journal, reports that Chinese and other international buyers are ‘increasingly snapping up properties in second-tier cities with better prices and growth potential’.
“They are going beyond the cities that have long attracted international buyers and landing in regional destinations.’’
In Australia, the cities and towns with the fast-growing Chinese buyer interest this year has included Perth, Darwin, Mandurah and Geelong — according to user data on Juwai.com. They aren’t the top areas for Chinese buyers, but they are the fastest growing, Taylor says.
“Chinese buyers don’t account for the majority of transactions. But, they account for a significant number, and they tend to be more profitable and spend more per transaction than other buyers. Chinese buyers tend to spend more than twice the median house price in a given market, according to data from the US.’’
So, you can limit yourself to the low-spending locals, or, you can use social media to attract the big-spending international buyers. If you choose the latter, follow Juwai.com’s seven-step process and you will be well on your way to international social media success.
Some tips:
Pick your target countries: 
Pick the obvious countries, either the places that are sending the most buyers to your market, or the ones where you have a cultural or linguistic advantage. If you live in Miami and speak Portuguese, it probably makes sense to include buyers from Brazil in your list of targets.
Pick your social networks: You might use Facebook to keep up with your friends, because most of them are on it. But to reach sales prospects, you have to go to the social networks they prefer.
You might be surprised how limited the international reach of networks like Facebook and Twitter are in other countries, Taylor says. While Facebook has 50% penetration in the United States, the world average for Facebook penetration is only 12.1%.
While the Middle East and Asia have a big share of wealthy potential buyers,  Facebook’s penetration is only 5% and 9%, respectively. In Russia, social network VK has 100 million active users — more than Facebook in that country. In China, QZone has 603 million users, according to China Internet Watch. 
 Set your goals:
Some local agents are content to use social media as nothing more than another customer service platform. That is, they use it as they would the phone or email, to communicate with prospects with whom they already have some sort of relationship. Others are more ambitious. They use social media to bring more traffic to their website or to give their brand more exposure, especially in new markets. 
Whatever your goals, having a coordinated, planned approach will make it easier to operate on multiple social networks, and even in multiple languages.
Decide ahead of time how you want to use social media, and choose your tactics accordingly.
Graphic: Chinese prefer their own social media networks
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/11/29/laptop-mediacomparison-AUS-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/11/29/laptop-mediacomparison-AUS-small.jpg"></a>
Choose your languages.
Only about 1% of Chinese speak English, and nine out of 10 Europeans prefer to surf the web in their native tongue. Get the picture? When deciding which languages to operate in, focus on those used by the largest numbers of your prospects. 
 Decide how many accounts you really need. 
You might be tempted to set up a Facebook page for every language in which you’d like to work with buyers. That would be a mistake. You can achieve the same results with just a single page on Facebook using its post-targeting tool. 
Access it at the bottom of the compose box, just next to the ‘post’ button. 
Let’s say you put up an item in Russian. Use the targeting tool to select Russian speakers, or even residents of individual Russian cities. Other social networks have similar tools.
Once you have created your new post, click on the word ‘public’ in the blue box, at that bottom of the post. Select “Location / Language” and go on to target the post to your preferred populations.
Create a destination on your website for each language. 
If your goal is to acquire new customers via social media, ultimately you will want them to visit your website. Post all of your new content for each segment of buyers on your site first. Then link back to it from your social media posts.
Once they are on your website, you will have more opportunities to capture their contact information, show them listings and persuade them to work with you. This is an extra step compared to simply posting a link in your Twitter feed to a news article, without first posting that news article on your own website.
It’s worth it. You’ll generate more direct traffic to your site. If you do a good job of converting on your site, you will then generate more leads and – ultimately– commission revenue.
 
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Securing a Chinese buyer for your property

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Auction clearance rates are much higher in 2013 than in 2011 and 2012, according to the latest RP Data report.
And the reason could be a better alignment of buyer and seller expectations, whereby vendors are more willing to meet the market price expectations of buyers than they were a year ago. And, also, with more buyers active in the market, there is now a heightened level of competition for stock.
<img alt="combined-capital-nov-28-one" src="/images/stories/2013/11/28/combined-capital-nov-28-one.gif" height="230" width="470">
The RP Data report found that, across all capital cities, auction clearance rates are hovering around their highest levels since May 2010. Throughout 2011 and 2012 combined capital city clearance rates never breached the 60% mark. But, so far in 2013, weekly capital city auction clearances have averaged 66.3%.
Despite this improvement, clearance rates remain below the levels of 2009 and early 2010.
‘’It is important to remember that auctions generally reflect the premium housing market and that less than 15% of the total capital city housing stock actually sells this way. Also, the number of properties auctioned is much higher in Sydney and Melbourne,’’ the report says.
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Auction clearance rates easily highest in past three years

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Western Australia’s residential building industry is the strongest in the country, according to the Housing Industry Association’s inaugural Housing Scorecard report.
Mining investment and strong population growth have seen the state’s economy growing quickly, but until recently residential building had been stuck in the slow lane, it said.
“However, stronger conditions more recently have taken WA to the number one  position for the first time in more than five years,” said chief economist Harley Dale. “The Australian Capital Territory is in second position with Victoria third.”
The report found that a resurgence under way in the New South Wales residential building industry was lifting the state up the table after spending the best part of a decade ‘’in the wilderness’’.
“Conditions in the residential building industry diverge widely, both across and within states and territories,’’ Dale said. ‘’The Housing Scorecard aggregates large amounts of housing information to present a concise account of the influences these divergences have on industry performance."
The report benchmarks the contemporary performance of 13 key indicators of activity in residential building against long-term averages in each state and territory. This analysis is aggregated in a scoring system to generate a league table ranking the relative strengths/weaknesses of residential building conditions in each jurisdiction.’’
The report found that, in NSW, new home building has been the driver of its resurgence, but weaker conditions in the renovations segment have held back the state’s charge up the table. ‘’Overall, residential building conditions in NSW still rank only fifth nationally, but there is clearly some positive momentum there,” Dale said.
“At the other end of the table, Tasmania is languishing in last place, continuing the run of four consecutive quarters on the bottom.
“It was not so long ago, back during the financial crisis, that Tasmania was the top ranking state for residential building. Unfortunately, the state’s broader economy has undergone a marked deterioration since then and the weaker demand conditions delivered a big hit to the state’s residential building industry.”
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WA the strongest state for residential building: HIA

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.

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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.

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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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