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>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Japan-based global fashion retailer Muji, has signed a lease in Melbourne's CBD at the historic Scottish House building on William Street, just ahead of the opening of their biggest Australian store at Chadstone in August.
Samuel Friend and Stephen Land of Fitzroys negotiated the lease five-year deal with two three-year options.
Set over 292 sqm on Level 5 at 90 William Street, the lease was signed for $116,000 per annum with 4% annual increases on behalf of The Australian Club.
Friend said Muji needed a larger Australian head office as it embarks on a major expansion and wanted a CBD location.
The new 1,700 sqm store will offer Muji’s popular minimalist-style clothing, bedding, skincare and stationery, as well as a new range of furniture available in Australia for the first time; workshops and interactive events; a Muji Books offering, and self-serve coffee bar.
Friend said the Scottish House space attracted more than 80 enquiries, with law firms, finance companies, not-for-profits, accounting firms, marketing agencies and major transport operators all keen on the space.
“Major commercial developments through the CBD’s western corridor are attracting a broader range of tenants to this part of the city, beyond law firms seeking offices close to the legal precinct,” he said.
Scottish House is just metres from the dual-tower, office, hotel and residential Collins Arch development at 447 Collins Street, on the corner of William Street, as well as Mirvac’s Olderfleet project at 477 Collins Street, which will bring more than 52,000sqm of new office space.
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The six-storey heritage building was designed for prominent shipping agents McIlwraith McEacharn Ltd in 1907, by architect Charles D’Ebro, and was their head office for more than 70 years.
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Japan based fashion retailer Muji sign 5-year lease in Melbourne's Scottish House building 

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Centuria Capital Group (Centuria) has announced their acquisition of 10 Moore Street, Canberra. 
The property known as the ‘Optus Centre’ will be directly purchased by Centuria Diversified Property Fund (CDPF) for $35 million from commercial property group Quintessential.
Commenting on the acquisition, Centuria’s Head of Real Estate and Funds Management, JasonHuljich, said “Strong support from investors and financial advisers in the CDPF has seen the fund’s inflows increase significantly this financial year, allowing the fund to make strategic purchases. 
“10 Moore Street is a centrally-located property – ideally positioned in Civic, the heart of Canberra’s CBD precinct."
“The building has been fully regenerated to a very high standard by Quintessential Equity – all the work done over the years has been of a high quality, and the actions undertaken to improve the environmental footprint of the building has resulted in a 5-star NABERS energy rating, further enhancing the quality of this acquisition.”
It has a 4.3 year WALE (as at 1 June 2019), and is currently 98% leased to a mix of tenants, with a 12-month rental guarantee on approximately 2% (123 sqm) of vacant space, which Mr Huljich is confident about leasing.
“One of Centuria’s A-REITs, the Centuria Metropolitan REIT (CMA), owns two properties nearby– at 54 and 60 Marcus Clarke Street, about 100 metres from 10 Moore Street – so we are familiar with the area, and have had very good leasing success there: we understand what appeals to tenants,” he said.
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Russell Bullen, Quintessential Equity’s Chief Executive Officer, said the group is very pleased with the sale of the 6,709sqm building, which he calls a “top-tier office investment”.
“Since we acquired the building in 2014, we’ve completed a full regeneration and successful releasing campaign at the property, future-proofing it for years to come."
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Centuria announce acquisition of Moore Street Optus Centre in Canberra

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A brand new Smith Street, Fitzroy retail property has been snapped up for $805,000.
Lewis Waddell and Terence Yeh of Fitzroys, in conjunction with Richard Miglic of Miglic Dean, sold 13 Smith Street on behalf of the developer.
The sale price reflected a strong building rate of $8,945 per sqm, and a 6.2% yield.
The brand-new 90 sqm space includes one basement car park and is positioned within the Neometro’s seven-level Nine Smith Street development, which has 47 one and two-bedroom apartments and multiple retail spaces.
Business education operator Plato Project has a three-year lease with a three-year option over 13 Smith Street, returning $50,000 per annum plus GST.
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Yeh said the purchaser was attracted to the property’s positioning in one of Melbourne’s most popular and trendy lifestyle precincts, and the rare chance it presented to secure a high-yielding inner city asset in an affordable price bracket.
“The vibrancy of the Smith Street and nearby Gertrude Street lifestyle precincts have prompted a surge in the local population, as Melburnians embrace inner city living and look to be close to the action of their favourite shopping, hospitality and nightlife destinations,” Waddell said.
Just a few metres from 13 Smith Street, Pellicano Group is planning a new office project at 207 Victoria Parade, on the corner of Smith Street. 
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Brand new Smith Street, Fitzroy retail premises sold

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A 10,513 sqm community facility site in Monash, ACT has been offered to market.
It has the potential to become a childcare centre, aged care or even medical centre.
Situated at 178 Clive Steele Avenue, in the Tuggeranong region, Colliers International is marketing the site on behalf of the Suburban Land Agency.
“Monash sits in the centre of a region home to over 70,000 people. Nearly two-thirds of families have children, but the population is also ageing and the number of residents over 60 years of age is approaching 20 per cent,” Colliers International Director Land Marketing, Josh Reid said.
“We expect the local demographics will make it attractive for the full variety of uses it is zoned for and therefore attractive to a number of potential buyers.”
“Opportunities to purchase a community facility site in established suburbs like Monash don’t come around every day,” Colliers International Associate Director City and Metro Sales, Matthew Winter explained.
“Monash is close to a range of amenities including the Tuggeranong Town Centre, which is a major local employment hub, and this site has good access to public transport.
The site’s permitted uses include an aged care facility (up to 30 dwellings), medical centre or childcare centre, among other options.
Block 14 Section 56 Monash will be auctioned on June 19 2019.
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New community facility site in Monash, ACT listed

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The multi award-winning Mon Komo Hotel, along with 33 strata titled short stay apartments in the Moreton Bay region have hit the market.
Michael Simpson and Leon Alaban of Savills are marketing the sale which has the opportunity for an incoming buyer to purchase the assets in one line.
Situated at 99-101 Marine Parade, Redcliffe, the properties are being offered for sale by way of an expressions of interest campaign, closing June 28 2019.
The apartments form part of the Oaks Mon Komo, with the vendor selling 33 of the total 76 apartments located in the complex, representing 43% of the total lot entitlement.
Managing Director of Hotels at Savills, Michael Simpson, said the short stay apartments are a well-established business under Oaks.
“The apartments boast occupancy rates of over 80 per cent each year at a very strong average daily rate. It is one of Oaks’ best performing hotels,” Mr Simpson said.
The offering is currently owned by developer Kyko Group, led by Bill Jenkings, who said the Group has decided to sell the Hotel in order to focus on acquisitions for their future development pipeline.
Set across two levels, the Hotel features four bars including Cabana Bar + Kitchen, Seabrae Bar &amp; Nightclub, Treasure Lounge, plus the function and convention centre.
The popular food and beverage venue generated revenue in excess of $6.9 million last year.
Located between Cabana and Seabrae, The Treasure Lounge gaming room features 21 EGMs with an approval in place to operate up to 40 EGMs.
The Hotel currently operates without an onsite bottleshop, or any of the three detached bottleshop sites it is currently permitted to operate under its commercial liquor licence.
“We expect that the offering will be sought after by an array of local and interstate hoteliers and strategic property investors,” Mr Simpson said.
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Oaks Mon Komo Hotel and apartments listed through Savills

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A two-storey Moorabool Street, Geelong building, once the John Daniel’s Ironmongery warehouse in the 1860s, has been listed for sale.
The bluestone frontage to Baylie Place is a piece of industrial heritage.
The former Mikasa outlet at 186 Moorabool St, which is hidden behind aluminium cladding, has been listed for auction on May 30.
McGrath, Geelong agent David Cortous holds the listing.
A price guide around $950,000 to $1.045 million has been set.
Mr Cortous said its history as a big warehouse with exposed timber beams could dictate buyers future plans.
Set on a 262 sqm block, it has about 560 sqm of floorspace.
“To be honest, I’ve got somebody looking at it for residential use,” he said. “Using the back entrance as the main facade, decking out the full top floor as a residence with a six-car garage at the bottom.”
The Moorabool St shopfront would be retained, he said.
“There’s a lot more inner city living, especially around the Little Ryrie St area,” he said.
The timber and stone elements warranted an A-listing from the Heritage Council, which lauded timber detailing often absent from the otherwise austere warehouses.
The property goes to auction on May 30 at 11am.
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John Daniel’s 1860's Geelong ironmongery warehouse premises listed

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EXPERT OBSERVER
Media portrays Sydney as a market of universal and relentless decline, but our analysis shows there’s a lot more to the story. While sales activity and prices are down generally, there are many different scenarios playing out across the Greater Sydney Area. 
In Hotspotting’s latest quarterly survey of sales activity, we can find only three suburbs where sales activity is trending higher, but there are 90 suburbs with steady, consistent sales and a similar number of plateau markets (where activity has dropped from the peak but remains at solid levels).
And there are 61 suburbs classified as decline markets and 14 which we regard as danger markets, with the Sydney City, Parramatta, Bayside and Canterbury-Bankstown LGAs heading the list of markets to avoid.
Our analysis of 416 suburban markets in the Greater Sydney Area shows that 77% of them have median prices lower than a year so, while 23% have higher prices. Given the negative sensation about Sydney in mainstream media, many people would be surprised to learn that there are 95 Sydney markets where prices are not falling.
That includes 36 where median prices have risen by more than 5%, led by the top end of the Sydney market (suburbs with median prices above $2 million). Suburbs with median house prices above $2 million have recorded trend-defying growth, including Bellevue Hill (up 17%), Vaucluse (15%), Collaroy (22%), Palm Beach (17%), Artarmon (28%), Abbotsford (16%), Darling Point (12%) and Neutral Bay (17%), among others.
In another interesting trend that defies the general media rhetoric, there are 44 suburbs where the median house price is down but the media apartment price is up. This reflects the reality that many of the Sydney markets where prices have continued to grow against the overall trend are apartment precincts – it’s not happening across the board, but it’s a significant sub-plot in the Sydney market.
Our analysis of the Sydney market shows why the generalisations prevalent in media are so misleading for consumers. This Autumn survey has given ratings to 258 Sydney suburbs: 3 rising, 90 plateau, 90 consistency, 61decline and 14 danger markets. The absence of growth markets and the dominance of struggling ones is the over-riding trend, but there are other stories to be told in the Sydney market.
The strongest precincts are those that are displaying stubborn consistency of sales activity in the face of the general downturn.
The Sutherland LGA has two of only three rising suburbs (Jannali and Kirrawee), as well as five plateau and four consistency suburbs. The median price for Jannali units has risen 22% in the past year, while Kirrawee houses are up 3%. It’s notable that median prices for units have risen in many Sutherland suburbs, including Caringbah, Cronulla, Caringbah South, Gymea and Miranda, as well as Jannali.
Other precincts that are showing solidity, with plenty of consistency and plateau suburbs (and no decline or danger markets), including LGAs at the more affordable end of the market like Blacktown, Camden, Penrith, Wollondilly and Campbelltown.
The Blacktown LGA has one rising, three plateau and 10 consistency suburbs. A characteristic of this market is that median prices are down, but only a few percent in most suburbs – including Plumpton (-2%), Ropes Crossing (-2.3%), Schofields (-1.2%), Marsden Park (-0.4%), Blacktown units (-2%) and Mt Druitt units (-2.8%).
Other solid markets include the LGAs of Inner west, Northern Beaches, North Sydney,  Woollahra, Randwick and Fairfield.
Inner West suburbs where median prices are higher than a year ago include Annandale (units), Camperdown, Lilyfield, Rozelle (units), Dulwich Hill (units) and Stanmore (units).
Standout price performances in the steady Northern Beaches precinct include Collaroy, Narrabeen, Avalon Beach, Manly (units), Seaforth (units) and Newport (units).
The weakest precincts of the Sydney market are the LGAs of Parramatta, Sydney City, Bayside and Canterbury-Bankstown.
Parramatta has six suburbs which we classify as danger markets: those where sales activity is sharply down, prices are falling and vacancies are high. These suburbs are Carlingford, Epping, North Parramatta, Parramatta, Wentworth Point and Rosehill. This LGA also has six suburbs ranked as decline markets.
Median prices are down sharply for North Parramatta houses (20%), Parramatta houses (30%), and Rosehill units (22%).
Sydney City has seven declining suburbs and two danger markets (Haymarket and Waterloo).
The Canterbury-Bankstown LGA has nine suburbs classified as declining markets, based on a sharp decrease in sales activity over the past 12-18 months: Bankstown, Belmore, Campsie, Canterbury, Croydon Park, Lakemba, Padstow, Panania and Roselands.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

What's really going on in the Sydney real estate market? Hotspotting's Terry Ryder

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GUEST OBSERVATION
Are we letting too many or too few migrants into Australia?
For 2019-20 the Australian government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">has cut</a> the annual net migrant intake from 190,000 to 160,000. It’s a political decision, balancing the concerns of those who want much lower or higher immigration levels for a mix of social, environmental and economic reasons.
It’s an unsatisfactory and ad-hoc balancing act. Could there be more “science” in these decisions?
We’ve sought to come up with an evidence-based method to gauge the effects of migration. To do so we’ve used the internationally accepted framework for development planning, the <a href="https://www.un.org/sustainabledevelopment/sustainable-development-goals/" target="_blank">Sustainable Development Goals</a>. The goals cover major aspects of economic, social and environmental well-being, from decent jobs and quality education to good health and clean water.
We investigated three population scenarios: one similar to Australia’s recent annual level of net migration (about 200,000 a year); one much lower (about 70,000 a year); and one much higher (about 300,000 a year).
What our results show, perhaps surprisingly, and more by luck than design, is that recent levels of immigration seem to be in a “goldilocks zone” that balances economic, social and environmental objectives.
Our results also suggest migration is neither the problem nor solution in many areas where Australia is off-track, from government debt to environmental action.
Balancing competing agendas
Immigration policy is Australia’s <a href="https://www.pc.gov.au/inquiries/completed/migrant-intake/report/migrant-intake-report.pdf" target="_blank">de facto population policy</a>. With the birthrate just keeping up with deaths, it’s migration that <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/3101.0">drives</a> population growth. It’s why in 2018 the population passed 25 million, <a href="http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/77DDF6AF34285E7ACA25693E00033443/%24File/32220_1999%20to%202101.pdf" target="_blank">years earlier than previously predicted</a>.
Annual migration intake is set as part of the the annual budget cycle. The government treats it primarily as a short-term economic issue. But population growth has long-term impacts on many sectors, from health and education to infrastructure and <a href="https://theconversation.com/how-migration-affects-housing-affordability-92502" target="_blank">housing</a>. Population growth, particularly through <a href="https://soe.environment.gov.au/theme/drivers/topic/population-driver-environmental-change" target="_blank">urban expansion</a>, increases pressures on the natural environment.
Ideally, therefore, decisions about migration numbers and population growth should synch with long-term planning at the state and local levels to avoid service shortages, <a href="https://www.smh.com.au/politics/federal/australia-s-lack-of-people-planning-is-a-road-to-nowhere-20180801-p4zut4" target="_blank">urban sprawl, vehicle congestion and infrastructure shortfalls</a>.
The question remains about how to make evidence-based policy that balances deeply divided views. Some strongly support high net migration due to the important role population growth plays in managing an ageing population. Others argue equally forcefully for reducing migration because it places a burden on infrastructure, services and the environment.
Using the sustainable development goals
To negotiate these differences, we chose the <a href="https://sustainabledevelopment.un.org/?menu=1300" target="_blank">UN Sustainable Development Goals (SDGs)</a>. The goals cover long-term targets in 17 major areas of economic prosperity, social justice and environmental sustainability. All member states of the UN, including Australia, have agreed to them as a shared blueprint to achieve by 2030.
<hr>
<a href="https://images.theconversation.com/files/275833/original/file-20190522-187153-5jlh95.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275833/original/file-20190522-187153-5jlh95.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The 17 Sustainable Development Goals. <a class="source" href="https://sustainabledevelopment.un.org">United Nations</a>
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Each goal area includes multiple specific targets – 169 in all. For example, Goal 11 (“Make cities and human settlements inclusive, safe, resilient and sustainable”) includes the targets of adequate, safe and affordable housing and affordable, accessible and sustainable transport systems.
Countries are not required to adopt all targets, but focus on those appropriate. We chose 52 targets relevant to Australia, covering all 17 goals and ensuring a reasonable balance of economic, social and environmental priorities.
Using advanced modelling capabilities, we tested how achieving the targets by 2030 might be affected by different population sizes.
Overall, not a huge difference
The following chart shows our results in a single graphic. For our low-migration scenario, Australia’s population in 2030 is 27.3 million; for the moderate, 28.9 million; and for the high, 30.6 million.
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<a href="https://images.theconversation.com/files/276020/original/file-20190523-187179-3ced24.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/276020/original/file-20190523-187179-3ced24.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
How low, moderate and high population scenarios affect Australian’s performance on the Sustainable Development Goals. The authors
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Only in two goal areas – education, clean water and sanitation – do our results show Australia doing better than 85% achievement by 2030 under all three scenarios. Only in another three – health, gender equality and energy – do we do better than 50%.  
All scenarios had equal effect on eliminating poverty (<a href="https://sustainabledevelopment.un.org/sdg1" target="_blank">Goal 1</a>). However, the low-migration scenario did better for achieving food security and improving nutrition (<a href="https://www.un.org/sustainabledevelopment/hunger/" target="_blank">Goal 2</a>).
Perhaps surprisingly, for decent work and economic growth (<a href="https://www.un.org/sustainabledevelopment/economic-growth/" target="_blank">Goal 8</a>), the middle scenario scored the best.
In the centre of the chart are the overall scores of each scenario.
The high-migration scenario (39.4% progress towards all targets) is the lowest , but not by much. There is almost no difference between maintaining recent migration levels (40.5%) and significanly slashing the migration intake (40.6%).
This suggests that, on an equal balance across a broad set of competing objectives, recent historic levels may be about right.
However, these results brush over the range of trade-offs between different targets – some of which may be considered more important than others.
Compared against the low scenario, for example, the high scenario results in an estimated 1.7 million extra vehicles on the roads, increased water consumption (~600 million m3), greater urban sprawl (~60,000 ha), and higher greenhouse gas emissions (~15 million tons CO2-equivalent).
Poor performance in many areas
What is perhaps most striking is that, regardless of the population scenario, Australia isn’t tracking well on most measures of sustainable development. <a href="https://www.sdgtransformingaustralia.com/" target="_blank">Other studies</a> have concluded the same.
As already noted, Australia is doing well on health, education and water quality. But it’s performing poorly on climate action (<a href="https://www.un.org/sustainabledevelopment/climate-change/" target="_blank">Goal 13</a>) and responsible consumption (<a href="https://www.un.org/sustainabledevelopment/sustainable-consumption-production/" target="_blank">Goal 12</a>), to name just two.
Broadly accepted frameworks to <a href="https://www.sdgtransformingaustralia.com/" target="_blank">measure progress</a> and weigh policy decisions in contested areas is something we lack across the policy board.
Finding new drivers of job creation, addressing infrastructure needs, and tackling climate change are just some of the complex challenges Australia faces.
Ad-hoc, short-term approaches to addressing them are unlikely to often deliver optimal outcomes. Combining clear targets, a long-term perspective and advances in modelling might help.<img src="https://counter.theconversation.com/content/115136/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Cameron Allen, Researcher, UNSW
Graciela Metternicht, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, UNSW
Thomas Wiedmann, Associate Professor, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/if-you-think-less-immigration-will-solve-australias-problems-youre-wrong-but-neither-will-more-115136" target="_blank">original article</a>.
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If you think less immigration will solve Australia’s problems, you’re wrong; but neither will more

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GUEST OBSERVATION
Tourism today has a problem and needs an entire rethink. Pundits are debating <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a>, <a href="https://theconversation.com/were-in-the-era-of-overtourism-but-there-is-a-more-sustainable-way-forward-108906" target="_blank">peak tourism</a> and <a href="https://medium.com/@BComuGlobal/they-call-it-tourism-phobia-but-that-s-not-what-s-happening-in-barcelona-cb56b02da97b" target="_blank">tourismphobia</a>. Cities such as <a href="https://theconversation.com/how-to-stop-city-breaks-killing-our-cities-79132" target="_blank">Barcelona</a>, <a href="https://www.theguardian.com/world/2019/jan/06/venice-losing-fight-with-tourism-and-flooding" target="_blank">Venice</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/dubrovnik-cruise-ship-cap-croatia-overtourism-two-dock-a8565166" target="_blank">Dubrovnik</a> are witnessing a backlash against imposed forms of tourism.
In response, new tactics have been tried, ranging from <a href="https://www.theguardian.com/world/2018/jul/14/venice-stewards-stop-antisocial-behaviour--sandwich-poilice" target="_blank">tourist “police”</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/edinburgh-city-tourist-tax-scotland-holiday-city-break-a8769141?fbclid=IwAR2q6q9woKiC226mLbvYkhJcFF5dr-7T2BjsGU9NXAgwn9vsz3uerfPyRlM" target="_blank">tourist taxes</a> to entry fees and <a href="https://www.theguardian.com/environment/2009/sep/06/mass-tourism-environmental-damage" target="_blank">crowd control</a>. Cities are having to rethink their engagement with tourism if they want to keep the locals from <a href="https://amp.theguardian.com/cities/2019/apr/30/sinking-city-how-venice-is-managing-europes-worst-tourism-crisis?CMP=Share_AndroidApp_Twitter&amp;__twitter_impression=true&amp;fbclid=IwAR1DvMXEHG0OFcWeLmuxzd7OBxPbFEGIlO5VDH2Oo--ZhHepL6q3gwVM0-8" target="_blank">rioting</a>.
Fundamental concerns are being raised. If tourism is to have a sustainable future, we need to reorient our focus and put the well-being and interests of local residents at the forefront.
Understanding tourism
Tourism is typically understood from two angles. On the one hand, the focus is on the tourists and the nature of their motivations and demand, in the hope of enticing more. On the other is the business side, focused on developing products and services to provide to tourists.
The industry seeks to grow tourism for profits. Governments support the industry for the jobs and revenues it provides. The result has been a relentless growth in tourism in forms that locals have often not appreciated.
Developments like Airbnb are placing tourists <a href="http://www.traveller.com.au/barcelona-tourism-overtourism-and-bad-behaviour-driving-locals-to-despair-h13vqy" target="_blank">in the heart of local neighbourhoods</a>, disrupting the rhythms of daily life. <a href="https://www.sciencedirect.com/science/article/pii/S0261517717301784" target="_blank">Events are imposed on communities</a>, driving out locals or blighting their quality of life. A case in point is the Newcastle 500 Supercars event, which <a href="https://wrongtracknsw.com/" target="_blank">some locals claim</a> has harmed local businesses and disrupted residents’ lives.
Public assets like the <a href="http://www.adelaide-parklands.asn.au/current-issues/" target="_blank">Adelaide Parklands</a> and <a href="https://theconversation.com/green-light-for-tasmanian-wilderness-tourism-development-defied-expert-advice-104854" target="_blank">Australian national parks and World Heritage areas</a> are being commercialised and privatised for tourism developments.
Shifting the focus to the local community
We could create a different future for tourism if it was reoriented to be centred on the local community. <a href="https://tandfonline.com/doi/full/10.1080/09669582.2019.1601732" target="_blank">Our recently published research paper</a> redefined tourism as: "The process of local communities inviting, receiving and hosting visitors in their local community, for a limited time duration, with the intention of receiving benefits from such actions."
Such forms of tourism may be offered by commercial businesses or made possible by non-profit organisations. But in this restructure of tourism, tourism operators would be allowed access to the local community’s assets only under their authorisation and stewardship.
The seeds of such a transition to more sustainable forms of tourism are already growing.
Respect and fairness go a long way
Venice provides a good example. In 2017, the authorities launched a <a href="https://www.independent.co.uk/travel/news-and-advice/venice-enjoyrespectvenezia-tourism-campaign-paola-mar-travel-campaign-litter-swim-canals-bridges-a7861321" target="_blank">#EnjoyRespectVenezia</a> campaign to overcome problems of poor tourist behaviour.
In 2019, Venetian authorities have gone even further by <a href="https://news.artnet.com/art-world/venice-biennale-city-access-fee-1535137" target="_blank">introducing an entry fee</a> this year and, later, <a href="https://www.independent.co.uk/travel/news-and-advice/venice-booking-system-entry-fee-reserve-overcrowding-overtourism-a8765456" target="_blank">a booking system</a>. Mayor Luigi Brugnaro said: "We intend to guarantee a better liveability for citizens and, above all, for the residents."
But local communities and organisations are not waiting for authorities to act. Community activists are organising to take control of tourism for themselves.
A grassroots initiative from Amsterdam and Venice has resulted in <a href="https://fairbnb.coop/" target="_blank">Fairbnb</a>. It’s a social cooperative designed to challenge the damaging and disruptive model of Airbnb. The new platform “provides a community-centred alternative to current vacation rental platforms that prioritises people over profit and offers the potential for authentic, sustainable and intimate travel experiences”.
Like Airbnb, Fairbnb offers a platform to book vacation rentals. The difference is that 50% of revenues will be directed to local community projects. It also has a “one host, one home” policy – only one property on the market for each host – to limit negative impacts on local residential housing markets.
Meanwhile in Australia …
Australia does not have the same level of <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a> that places in Europe are suffering. But pressures are building right around the country from Byron Bay and the Great Ocean Road to our bigger cities like Sydney and Melbourne. Locals are complaining about housing affordability, congested roads and badly behaved tourists.
Australia would benefit from strategies to reorient tourism to local well-being and control. Some promising examples already exist.
<a href="https://www.lirrwitourism.com.au/" target="_blank">Lirrwi Tourism</a> in Arnhem Land, Northern Territory, stands out. The Yolngu Aboriginal operators have embraced tourism access but only under a visionary set of <a href="https://www.lirrwitourism.com.au/guiding-principles" target="_blank">guiding principles</a>. These declare “Yolngu have a responsibility to care for country” and “Tourism should never control what happens on country”. It’s an example of tourism on the local community’s terms.
<a href="https://www.theurbanist.org/2015/09/16/melbourne-a-case-study-in-the-revitalization-of-city-laneways-part-1/" target="_blank">Melbourne’s laneways strategy</a> has demonstrated one way CBD revitalisation, resident well-being and visitor experiences can be brought together for great outcomes.
Tourists can play their part by meeting local communities halfway. In a resource-constrained world the pleasures of tourism must be balanced with some basic responsibilities.
Tourists must gain some basic understanding of local living conditions and shape their travel plans accordingly. The focus must be to give locals the maximum benefits from the visit with the minimum negative impacts. The recent campaign <a href="https://www.kathmandu.com.au/helpful-or-harmful" target="_blank">“Helpful or harmful: what sort of traveller are you?”</a> provides a place to start.
The long-term sustainability of tourism depends on ensuring visitors do not wear out their welcome. Reorienting tourism to enhance local well-being is the way forward.<img src="https://counter.theconversation.com/content/116066/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Freya Higgins-Desbiolles, Senior Lecturer in Tourism Management, University of South Australia
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/rethinking-tourism-so-the-locals-actually-benefit-from-hosting-visitors-116066" target="_blank">original article</a>.
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Rethinking tourism so the locals actually benefit from hosting visitors

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Beijing surged to top position among Asia Pacific metropolitan commercial real estate investment markets for the first time in the first quarter of 2019. 
The city’s stand-out performance contrasted with most other markets as total investment volume across Asia Pacific slumped by 36% year-on-year (YOY) compared with the same period of 2018.
China’s economic slowdown, its trade tensions with the U.S. and the global downturn in demand for consumer products took their toll on property investment across the region, Real Capital Analytics’ Asia Pacific Capital Trends Q1 2019 report showed.
Investments totaling US$4.5 billion lifted Beijing into pole position in the first quarter, from seventh place in 2018.
Two mega-deals of over US$1.3 billion accounted for more than half of that figure.
Hong Kong was nudged into second place among Asia Pacific metropolitan markets with an investment volume of US$4.4 billion and Tokyo came in third at US$3.9 billion.
"Traditionally, Beijing was considered a government city, more than a major commercial real estate investment target," Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said.
"Cross-border capital flows, however, appear to be changing the nature of the market and the city is becoming more appealing to institutional investors."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/retail%201.jpg" alt="">
Source: RCA 
Beijing was one of only a few markets not included in the general regional retreat.
Overall investment volume slid by 36% in the first quarterly of 2019 to reach US$30.5 billion with Asia Pacific markets struggling to match the elevated pace recorded in 2018.
Blazkova added the markets are comparatively late in the real estate investment cycle and prices look high from a historical perspective.
"Global interest rates, however, remain relatively low and the count of pending deals is substantial in markets such as Hong Kong, China and India," he said. 
"On balance, these factors signal that the outlook for Asia Pacific’s investment markets for the remainder of the year may be more upbeat."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%202.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/retail%202.jpg" alt="">
Australia’s Retail Investment Market Under Pressure
Real estate investment transactions ebbed in Australia ahead of federal elections on May 18, with deal volume down 27% to US$3.0 billion compared with the same period of 2018. The biggest contributor to the decline was the pull-back in cross-border capital flows.
More broadly, Australia is facing larger challenges with housing prices falling for over a year, led by Sydney and Melbourne.
The retail market too is under pressure, hit by the rise of e-commerce. Discount department stores have been particularly hard- hit amid a wave of shop closures and consolidations.
Blazkova said while the office yield compression in Sydney and Melbourne stopped at or near record lows, more pressure on yields was obvious elsewhere.
"The structural changes ahead of the Australian retail sector have started to impact its pricing," he said.
"Shopping centre yields have moved out by 70 basis points in the last 12 months."
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