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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GUEST OBSERVATION
One of the most important lessons to come out of last week’s banking royal commission is one of the least likely to grab attention, certainly not in the way <a href="https://theconversation.com/defence-mechanisms-why-nab-chairman-ken-henry-lost-his-job-111182" target="_blank">the resignation of NAB chair Ken Henry did</a>.
It’s that, in the view of Royal Commissioner Kenneth Hayne, when all is said and done the complex patchwork of rules that regulate financial institutions can be boiled down to six simple requirements:
<ul>
<li>
obey the law
</li>
<li>
do not mislead or deceive
</li>
<li>
act fairly
</li>
<li>
provide services that are fit for purpose
</li>
<li>
deliver services with reasonable care and skill, and
</li>
<li>
when acting for another, act in their best interests
</li>
</ul>
Yet, under our current law, these six principles are expressed in different terms in multiple pieces of legislation that run to thousands of pages and even more regulations, at both state and federal levels.
The labyrinth is arguably unnavigable for even sophisticated parties with access to good legal advice.
It wholly fails as a way of communicating the law to ordinary people, the businesses and citizens who are bank customers. It also provides an endless supply of “stall and evade” opportunities for wrongdoers who can clog up the courts with technical and strategic debates over how to interpret the labyrinth.
Legislative porridge
Even the best-intentioned plaintiff or prosecutor can end up pleading every possible permutation of the law to try and cover all bases.
The inevitable result is to “<a href="https://www.propertyobserver.com.au/http://www.austlii.edu.au/au/cases/cth/FCA/2016/1343" target="_blank">delay the proceeding and increase legal expenses</a>”, in the words of a recent Federal Court judgement.
Take the core prohibition of “misleading or deceptive” conduct.
Research conducted at Melbourne Law School finds the same prohibition in slightly different forms, with different requirements, different defences, and different remedies and penalties in <a href="https://financialservices.royalcommission.gov.au/Submissions/Documents/Round-6-written-submissions/POL.1000.2000.0030_0001.pdf" target="_blank">more than 30 pieces of state and federal legislation</a>.
The result has been described by another Federal Court judge as a “<a href="https://www.propertyobserver.com.au/http://www.austlii.edu.au/au/cases/cth/FCA/2012/1028" target="_blank">legislative porridge</a>”.
For many Australians it makes the use of the courts to resolve financial disputes with banks and insurance companies simply not possible.
As a result, we have developed a parallel “soft law”, that doesn’t work badly.
The <a href="https://www.ausbanking.org.au/code/banking-code-of-practice" target="_blank">Banking Code of Practice</a> sets out what banks should do and the <a href="https://www.afca.org.au/make-a-complaint/" target="_blank">Financial Complaints Authority</a> resolves disputes.
The Authority’s guiding principle is as simple as could be – that its decision be <a href="https://www.afca.org.au/public/download.jsp?id=6892" target="_blank">fair in all the circumstances</a>.
<img src="https://images.theconversation.com/files/258063/original/file-20190210-174870-dmhgrs.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> 
<a class="source" href="https://www.afca.org.au/about-afca/rules-and-guidelines/afcas-operational-guidelines/" target="_blank">Australian Financial Complaints Authority Operational Guidelines.</a>
It raises the question of why the law needs to be so complex when the alternative to it doesn’t need to be.
Simplification has to start somewhere
Hayne wants to simplify the law, but he says the overall task is wider.
It will require examination of how the existing law fits together and identification of the policies given effect by the law’s various provisions. Only once this detailed work is done can decisions be made about how those policies can be given better and simpler legislative effect.
Our Australian Research Council Discovery project on <a href="https://findanexpert.unimelb.edu.au/display/grant103207" target="_blank">Rationalising the Law of Misleading Conduct</a> is undertaking precisely this task for the rules about misleading conduct, trying to track how the various laws and regulations overlap and interact with the ancient, evolving and equally complex general laws governing contracts, torts and equitable principles.
This initial “mapping” task requires sustained and expert attention, so much that it might seem beyond governments’ usual attention-spans.
But, faced with the enormity of the task, Commissioner Hayne doesn’t engage in a counsel of despair. Instead, he picks two easier steps that could be done quickly in order to make a real difference.
First, get rid of exceptions, carve-outs and qualifications. An example he uses is the special treatment given to grandfathered commissions, but carve-outs are everywhere.
Reducing their number and their area of operation is itself a large step towards simplification. Not only that, it leaves less room for “gaming” the system by forcing events or transactions into exceptional boxes not intended to contain them.
We should be clear about what is at stake. The rule of law demands that like cases must be treated alike. It follows that exceptions need to be strongly justified. And they haven’t been. Instead, exceptions and carve-outs reflect the lobbying of powerful industry groups concerned to preserve their own self-interest. And in some cases a failure on the part of the drafters to understand how the regime as a whole fits together and works.
The second step is to draw explicit connections in the legislation between the particular rules that are made and the fundamental principles to which they are intended to give effect.
Drawing that connection will have three consequences. It will explain to the regulated community (and the regulator) why the rule is there and, at the same time, reinforce the importance of the relevant fundamental norm of conduct. Not only that, drawing this explicit connection will put beyond doubt the purpose that the relevant rule is intended to achieve.
But a serious concern remains: how to do it without complicating the law further.
It might be time to take the leap and go back to basics: to reduce the legislation to the core principles and leave the detailed explanation of how they work in practice to “soft law” guidelines.
On how this might look, see our contribution <a href="http://press-files.anu.edu.au/downloads/press/n2641/pdf/ch27.pdf" target="_blank">Statutory interpretation and the critical role of soft law guidelines in developing a coherent law of remedies in Australia</a> in R Levy et al (eds) “New Directions for Law in Australia: Essays in Contemporary Law Reform”.<img src="https://counter.theconversation.com/content/110509/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;">
Elise Bant is Professor of Law, University of Melbourne
Jeannie Marie Paterson is Professor, University of Melbourne
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/understanding-hayne-why-less-is-more-110509" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Understanding Hayne: Why less is more when it comes to simplifying banking law

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The Zagame family has acquired a recently rezoned Abbotsford land parcel of 4,735 square metres for $21 million.
Fitzroys agents Paul Burns and James Lockwood negotiated the sale of 112 Trenerry Crescent on behalf of the Australian Education Union (Victorian Branch) following an expressions of interest campaign.
The site has an existing four-level brick building with a net lettable area of 4,252 square metres, and fronts on to the Yarra River overlooking both Dights falls and Victoria Park, in addition to having views of the CBD skyline.
Burns said 15 offers were received from a mix of local and offshore bidders, predominantly made up of developers, with some partial owner occupiers.
“Bidders had schemes for a mix of office and residential uses for the property, looking to take advantage of the property’s recent rezoning to Mixed Use,” he said.
The AEU had previously used the building as their Victorian headquarters for many years, and held onto the property following their relocation until the rezoning was formalised.
Burns said the strong purchaser interest was driven by the property’s city fringe location and proximity to the burgeoning nearby office markets of Cremorne and Richmond.
The site had views to the Yarra River, Dight Falls, Victoria Park and the Melbourne CBD.
The existing building will be kept and re-used.
“Office vacancies across Melbourne’s city fringe have been tightening to historic lows and businesses are increasingly looking to Abbotsford as the next hotspot for commercial activity,” Burns said.
He said the property offers direct access to trains and buses, the Eastern Freeway and recently upgraded Hoddle Street, and a range of trendy lifestyle options and the scenery of the Yarra River, all within short walking distance.
Lockwood said developers are now looking beyond the busy Cremorne and Richmond markets for their next projects.
Cadence Property Group has lodged plans for a major office development on Victoria Crescent, near the Carlton and United Brewery, and Salta Property Group is undertaking a mixed-use project with office, apartment and build-to-rent components next to its Victoria Gardens shopping centre.
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Zagame family acquires Abbotsford office site from Australian Education Union

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EXPERT OBSERVER
According to the CoreLogic Home Value Index, dwelling values have recorded some substantial falls over the 12 months to January 2019. Four of the eight capital cities have recorded dwelling value falls while four of the seven rest of state markets have also experienced declines.
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/001%2012%20month%20change%20in%20dwelling%20vales.emf__0.jpg" target="_blank">Click</a> to enlarge.
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/001%2012%20month%20change%20in%20dwelling%20vales.emf__0.jpg" alt="001 12 month change in dwelling vales.emf_.jpg" width="1050" height="559" data-entity-type="file" data-entity-uuid="f21356ec-de3e-4809-acaf-7e17f28fcdf4" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
Nationally, dwelling values have fallen by -5.6% over the 12 months to January 2019 which is their largest annual fall since March 2009.
Combined capital city dwelling values were -6.9% lower over the past year while combined regional markets saw much more moderate value falls of -0.8%.  
For the combined capital cities, the -6.9% fall is the largest since February 2009 while the -0.8% fall across regional markets is the largest since October 2012. The recent declines in dwelling values are very much a different situation to the one that has played out over the past 20 years.
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/002%2020%20year%20change%20in%20dwelling%20vales_0.jpg" target="_blank">Click</a> to enlarge.
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/002%2020%20year%20change%20in%20dwelling%20vales_0.jpg" alt="002 20 year change in dwelling vales.jpg" width="1012" height="542" data-entity-type="file" data-entity-uuid="7ab6cac4-2830-4ad3-b5d0-f34972df29df" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
 Over the past 20 years, national dwelling values have increased by 197.4% with the combined capital cities recording stronger total value growth (212.4%) than the combined regional markets (150.3%).  
Looking at the individual capital cities, Melbourne has recorded the greatest value gains over the period (274.6%) while Darwin value growth has been the most moderate (38.4%).  The weak growth in Darwin has been driven by values falling by almost 26% since peaking in mid-2014.  
Across the individual rest of state regions, growth has been strongest in regional NSW (185.6%) and weakest in regional WA (77.5%).  Darwin and regional WA were the only two major regions of the country where values have not doubled over the past 20 years. Within the past 20 years there have been many housing cycles so the following graphs will show how each region has seen values change over the 20 years within five year increments. The five years to January 2004 was the strongest five-year period for value growth over the past 20 years, with national dwelling values increasing by 80.2%.  Over the period, the total growth in values across the combined capital cities (79.6%) and the combined regional markets (82.0%) was remarkably similar.  In fact, it was also the only five-year period in which value growth was stronger in regional markets than in capital cities.
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/003%205%20years%20change%20in%20dwelling%20vales_0.jpg" target="_blank">Click</a> to enlarge.
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/003%205%20years%20change%20in%20dwelling%20vales_0.jpg" alt="003 5 years change in dwelling vales.jpg" width="1088" height="579" data-entity-type="file" data-entity-uuid="55120ca7-ddde-48d9-a9d7-54abca62c8ae" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
 Over the five years to January 2004, capital city value growth was greatest within Canberra (110.9%) and weakest within Darwin (-3.9%). While values in Darwin fell, the next weakest growth in capital city values was Perth (63.5%).  Across the regional markets, values saw little growth over the five years in regional WA (24.4%) and regional NT (28.9%) while elsewhere value growth was quite strong with values doubling in regional NSW (108.8%). Following the strong value growth between 1999 and 2004, the growth in dwelling values over the five years to January 2009 was generally much more circumspect.  Over the period, national dwelling values increased by 14.9% with a 15.2% rise across the combined capital city markets and a 14.2% increase throughout the combined regional markets.  While the headline figures show little growth, it was quite a different story within different regions with some of the smaller housing markets experiencing big gains.  
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/004%205%20years%20change%20in%20dwelling%20vales_0.jpg" target="_blank">Click</a> to enlarge.
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/004%205%20years%20change%20in%20dwelling%20vales_0.jpg" alt="004 5 years change in dwelling vales.jpg" width="1016" height="541" data-entity-type="file" data-entity-uuid="07eba968-8ad9-4b1a-ae57-dacf97b00270" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
 Across the individual capital cities, Perth (52.3%) and Hobart (57.1%) recorded the strongest value growth over the five years to January 2009.  Sydney was the weakest capital city market for value growth over the five years with values falling by 4.6%.  In regional markets, regional WA was booming on the back of the mining boom with values increasing by 80.9% over the five years.  Although regional NSW recorded the strongest value growth over the previous five years, it was the weakest market during this period with values falling -3.4%. The five years to January 2014 marks the period following the GFC and saw the mining boom come to an end.  Low interest rates and market stimulus saw values rise 20.3% nationally during the five years.  The growth in values over the period was almost entirely driven by the combined capital cities (25.3%) with very little value growth across he combined regional markets (4.8%).  
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/005%205%20years%20change%20in%20dwelling%20vales_0.jpg" target="_blank">Click</a> to enlarge
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/005%205%20years%20change%20in%20dwelling%20vales_0.jpg" alt="005 5 years change in dwelling vales.jpg" width="1041" height="554" data-entity-type="file" data-entity-uuid="25d6caea-fc23-4f56-bdc5-04cb6f5db9fd" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
 Across the capital cities, values growth in Sydney (36.5%) and Melbourne (32.3%) was much stronger than elsewhere with Brisbane (5.0%) experiencing the weakest growth.  In regional markets, values declined by -2.0% over the five years in regional Qld while regional NT (30.2%) experienced the greatest increase in values over the period. Over the most recent five years, national dwelling values have increased by 19.4%.  The combined capital cities index has increased by 20.6% while the combined regional market index is 14.9% higher.  
<a href="https://www.corelogic.com.au/sites/default/files/inline-images/006%205%20years%20change%20in%20dwelling%20vales_0.jpg" target="_blank">Click </a>to enlarge.
<img class="align-center" src="https://www.corelogic.com.au/sites/default/files/inline-images/006%205%20years%20change%20in%20dwelling%20vales_0.jpg" alt="006 5 years change in dwelling vales.jpg" width="1003" height="534" data-entity-type="file" data-entity-uuid="65a12c3b-534e-469a-8054-05d3fb2a2272" data-image-style="" data-responsive-image-style="wide" data-zoom-image-style="">
 Across the individual capital cities, Perth (-15.6%) and Darwin (-24.4%) have recorded large falls while Hobart (35.1%) has experienced the strongest value growth.  In the regional markets, values have fallen in regional SA(-1.1%), regional WA (-22.6%) and regional NT (-7.3%) while regional NSW has recorded the largest value increase (28.2%). While past performance is certainly not an indicator of future performance, the data shows that over the past two decades most regions have seen some substantial increases in dwelling values.  The data also shows that over five year increments, the best regions for growth in a given five-year period are typically the weaker areas for growth over the following five years.  Given substantial growth over recent years in markets such as Sydney, Melbourne and Hobart that may provide some insight into the performance of these cities over the coming years. Of course, the housing market has a number of headwinds that have not been seen for some time.  Throughout most of the past 20 years, credit has been becoming easier to access, since late 2014 credit has increasingly become harder to access.  Furthermore, ongoing strong value growth in Sydney, Melbourne and Hobart has seen housing affordability rapidly deteriorate over recent years.  Finally, economic conditions outside of NSW and Vic have tended to be quite weak over recent years which has curtailed housing demand in these markets.
CAMERON KUSHER is a property research analyst for CoreLogic.
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ckusher-ujnxiKuFQs

The Australian capital cities that saw substantial house price gains over past two decades: Cameron Kusher

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EXPERT OBSERVATION
The NSW Labor Party announcement that they will eliminate spot rezoning if elected in March is a misunderstanding of the planning system.
Spot rezoning was introduced because many councils were very slow to update their Local Environmental Plans yet population growth had increased or new infrastructure like metro rail was being built.
Many councils were against new child care centres that competed against their own centres or did not support affordable housing in their area. In these circumstances where councils were stopping social responsible development or where their planning documents were out of date it is necessary to have a review system that has independent assessment.
The Plan for Sydney, A Metropolis of Three Cities, by the Greater Sydney Commission is only a year old and it sets the big picture agenda for where growth should occur. Unfortunately most councils have LEPs that are sometimes decades old. It is essential that planning responds to today’s needs not the past.
Giving councils too much power in the rezoning process creates an environment conducive to corruption. The current District Planning Panels are independent and were set up to keep potentially corrupt councilors out of the process.
Former Governor of the Reserve Bank of Australia, Glenn Stevens, in a report to the NSW Government raised concern that the planning system was too slow and out of date with current economic circumstances.
The spot rezoning approach allows independent assessment of planning proposals that fit the Greater Sydney Commissions most recent plans but don’t conform to out of date council plans.
As Glenn Stevens highlighted to wait for 5 years for the council plans to catch up is a very inefficient way to keep the economy of housing supply being relevant.
The Labor statement that spot rezoning is about developer deals is totally wrong. It is about being current with planning rather than being out of date. It is also about ensuring that anti -development councils cannot undermine the metropolitan wide approach taken by the Greater Sydney Commission.
Importantly Pre-Gateway reviews of Planning Proposals are undertaken by appointed experts on District Planning Panels that include a local council representative. The checks and balances are there to ensure probity and independent decision making.
It is of concern that the Labor Party is attacking developers for trying to follow the independent GSC plans when local councils are out of date with their own plans.
CHRIS JOHNSON is the Urban Taskforce CEO 
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Spot rezoning need to be independently assessed: Chris Johnson

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A freestanding Coles Supermarket in the Yarrabilba master planned community has listed for sale.
Located in the Brisbane-Gold Coast growth corridor, it has been announced for sale via expressions of interest by JLL’s Jacob Swan and Sam Hatcher. 
Opened in late 2017, Coles Yarrabilba comprises a 3,532 sqm supermarket set across a 16,730 sqm site. 
The retail accommodation set across a  single level with 214 parking spaces.
It is under an initial 15 year net lease term with four 10-year options to Coles. 
JLL’s Jacob Swan said, “Investors are attracted to this style of convenience/non-discretionary retail asset... and as a result, over $340 million of supermarket retail assets transacted in 2018, the second highest year on record.” 
“We continue to see unsatisfied demand from investors for this style of product and as a result expect the sale of Coles Yarrabilba to be very competitive."
The Main Trade Area is forecast to increase from 21,600 residents in 2018 to 44,220 residents by 2031, reflecting a growth rate of 5.7% p.a, according to Location IQ.
 
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New freestanding Coles in Yarrabilba listed for sale

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Savills Australia has increased its Occupier Services division, welcoming a new director into the NSW team.
Katherine Moss (pictured below) joins Savills from JLL, where she spent eight years between the Perth and Sydney tenant representation teams. 
She will now lead Savills’ Sydney team, focusing primarily on representing commercial-based tenants. 
<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/2019/2/12/Katherine-Moss--2.jpg" alt=""> 
Savills national head of Occupier Services, Mark Smith, said, “recruiting Katherine provides for a stronger presence within our Occupier Services division, and she will play a pivotal role in delivering a high level of leadership and management within the team."
Ms Moss described Savills as an “agile” agency that maintained a strong Australian reputation with global elements. 
“Savills will provide me with the ability to deliver a tailored business approach and high-quality service to each client,” she said.
“I am looking forward to leading a dynamic team and further establishing solid client relationships in order to build and develop the national division further.” 
 “The occupier services division continues to grow its market presence and we look forward to delivering strategic real estate solutions to existing and new clients alike,” Mr Smith concluded. 
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Savills Australia improves NSW team with new Commercial Tenancies director

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The home of The Little Grocer in Armadale has been listed for auction.
Gray Johnson's Brett Simpson will offer the freehold property at 59A Armadale Street on Wednesday 27 February onsite at 1 pm. 
Set across two levels the 54 sqm property should attract offers in the mid $700,000 bracket, according to Gray Johnson's Brett Simpson.
The property currently leased to The Little Grocer at an annual rental of $30,367 net plus GST until March 2021.
Brett Simpson said “The Little Grocer uses the street level as a retail food store with offices above."
“The location here is critical as this property is directly opposite and only about a fifty metre walk from one of the two principal access ways to the Armadale Station."
“The immediate area is a high value residential location, including many apartment dwellers within walking distance, with High Street and the Orrong Road junction and the surrounding cafes, service businesses and retailers and two major new high rise quality residential developments is barely 200 metres to the north," he concluded.
<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/2019/2/12/GJ%2059A%20ARMADALE%20LG%20INTERNAL.jpg" alt="">
 
It has a street frontage of 3.1 metres.
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Home of The Little Grocer in Armadale going under the hammer

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EXPERT OBSERVER
Markets in Regional NSW continue to head in the opposite direction to Sydney. While the Sydney market is showing increasing signs of decline (generally speaking – there are exceptions), the cities and towns of Regional NSW are delivering growth markets right across the state.
This is particularly evident in the price data. Hotspotting’s location-by-location analysis has revealed 150 Regional NSW locations where median prices have grown 5% or more in the past year, of which 65 locations have increased more than 10%.
In addition to the 150 places with 5%-plus price growth, there are another 67 locations with annual price growth between 1% and 5%.
The growth has been led by seven locations with growth of 20% or more: Crestwood (up 26%) Evans Head (up 23%), Kiama (up 22%), Catalina (up 21%), Berry (up 20%), Soldiers Point (up 23%) and the Shoal Bay unit market (up 31%).
The Newcastle region has been particularly strong on price growth in the past year. The LGAs of Newcastle, Lake Macquarie and Port Stephens all have multiple suburbs with solid to strong median price growth.
The Central Coast is another standout, with 13 suburbs with median price growth above 5%, including Ettalong Beach (up 17%), Kincumber (up 10%) and Wamberai (up 13%).
In terms of locations with rising demand, as measured by quarterly sales activity, our Summer survey has found 53 Regional NSW locations with markets trending upwards. This is slightly below the average of the past two years and is down on the 70 rising markets identified in the Spring 2018 sales survey.
The Queanbeyan-Palerang LGA just outside Canberra is the leading precinct, with five locations with rising demand. Leading locations include Crestwood and Queanbeyan East, where quarterly sales activity has been trending steadily upwards over the past 1-2 years. Crestwood’s median house price has risen 26% in the past 12 months.
The Newcastle region continues to stand out, although Newcastle itself is past the peak in terms of sales activity. There are only two Newcastle suburbs with rising demand but many with plateau markets. The previous strong demand is still delivering significant price growth and a number of suburbs (including Hamilton, Hamilton South, Mayfield, Wallsend and North Lambton) have risen more than 10% in the past year.
Outside Newcastle in neighbouring LGAs, Lake Macquarie and Maitland both have four suburbs with rising demand, while nearby Port Stephens has two. Out in the Hunter Region, Singleton, Muswellbrook and Scone all have increasing buyer activity. Muswellbrook’s quarterly sales have been 41, 52, 57, 74, 60 and 78 in the past 18 months – and its median house price has risen 8% to $305,000 in the past year.
Tamworth is one of the emerging markets. It now has four suburbs with rising demand, including North Tamworth where quarterly sales have been 17, 30, 34, 39, 34, 41 and 45 – with its median house price up 11.5% to $430,000 in the past 12 months.
There are towns with growth markets right across Regional NSW, including Casino, Kyogle, Cooma, Griffith, Parkes, Gunnedah, Cowra, Glen Innes, Inverell, Gloucester, Lithgow, Mudgee, Tuncurry and Broken Hill.
Some significant markets have passed their peaks in terms of sales activity, but still have strong prices. They include the Central Coast, Newcastle, Wollongong, the towns of the Wingecarribee LGA and the Tweed region near the Queensland border.
In the Tweed area, prices have risen strongly in the past 12 months in Bogangar (11%), Casuarina (19%) and Kingscliff (14%).
Terry Ryder is the founder of hotspotting.com.au, ryder@hotspotting.com.au, twitter.com/hotspotting
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Regional NSW rising as Sydney falls: Hotspotting's Terry Ryder

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Edgecliff institution A. R. Irwin Violins has found new accommodation.
It has purchased 222 New South Head Road, Edgecliff. 
It was founded in 1987 by Allen Irwin after studying instrument making in London and Sydney.
Irwin Violins has made, restored and supplied string instruments of all kinds to musicians and artistic communities all around the world, including the likes of Joshua Bell and Maxim Vengerov.
After 30 years the new purchase is less than 100 metres from his former location.
The deal was negotiated by Matt Pontey, of Colliers International in conjunction with David Canelas of Krulis Commercial. 
Allen Irwin (pictured below, right) said: "We have been a part of the local Edgecliff community for many years, and are pleased to be in a position where we can to continue to serve and do business in an area that we love."  
<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/2019/2/5/Allen%20Irwin%20-%20Website%20Photo.jpg" alt=""> 
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Edgecliff institution A. R. Irwin Violins purchases new home

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Excelon has announced the opening of 25 King Collective, a shared office space in Melbourne’s CBD.
Kelvin Taing, Director of Excelon says the Excelon team has moved into the top floor in the premises in Melbourne’s South West CBD area.
Mixed-use spaces start from $450 per month. Private studios from $1,200 per month.
Excelon engaged renowned architect Kennedy Nolan to renovate the three-level 25 King Street building, and Excelon Group moved its office to the top floor.
The shared office will house around 30 workers.
The shared amenities include a fully equipped shared boardroom for tenants’ use.
The site was originally the Melbourne Steamship Company and Excelon has kept original touch points throughout, such as the staircase, glass signage of the Melbourne Steamship Company and an original safe from the 1800s.
Excelon have paid further homage to the historical building by engaging Australian artist Benjamin Tankard to create nine paintings of the steamships that once belonged to the Melbourne Steamship Company.
These will adorn the walls within the shared boardroom, meeting room, and within each of the office suites that are also named after the ships.
Excelon Group has been active within the Melbourne property market since its inception in 2011.
The boutique, family-run property business is headed by brother and sister team Kelvin and Rachel Taing.
The 25 King Street project was recently completed and now is open, marking the first wave of real change in the revitalisation in the South West CBD area.
Melbourne’s South West CBD area has been undergoing significant improvement with several office, hospitality, hotel and residential developments in both planning and construction phases.
The Excelon team is proud that the 25 King Collective project has added to the pipeline of positive developments in the area.
The South West CBD area’s flurry of development projects is driven by developers who are committed to cleaning up the area.
Other projects in the area include Geddes Lane Ballroom (formerly the adult venue Bar 20); 555 Collins Street office space project; and the newly opened State of Grace restaurant and venue.
The area has also seen enormous growth in the hotel sector with projects such as St Regis Hotel, Mandarin Oriental Hotel, Ritz Carlton, Hyatt Centric, and BPM’s hotel project, which will be managed under Quincy hotel brand.
<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/2019/1/24/imgco-024.jpg" alt="">
Excelon has a fast growing portfolio of unique residential developments designed with specific lifestyles in mind.
Creativity and design integrity are what sets Excelon Group apart, and by working closely alongside some of Melbourne’s most reputed architects, Excelon has just completed Clyde Mews in Thornbury, and has recently launched Lothian Street in North Melbourne.
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