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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Major project completions in Queensland’s mining sector have helped stimulate economic progression, with growth in state final demand for the 12-month period rebounding above long-term averages, according to Savills Australia.
The company’s latest industrial report for Brisbane reveals that ongoing mining projects in Queensland are likely to see continued positive effects on the state’s economy, which coupled with the forecasted $46 billion in infrastructure projects that are in the pipeline, will drive further demand for industrial space in Brisbane.
Associate Director for <a href="http://www.savills.com.au/research/australian-research.aspx" target="_blank">Capital Strategy &amp; Research</a>, Shrabastee Mallik, noted that a positive spill-over effect into Brisbane’s industrial markets was imminent and would aid ongoing leasing demand and generate an increasingly positive business sentiment for the industrial sector.
“While the e-commerce sector in Australia is still in its infancy stages, there is growing evidence that Australians’ appetite for online retailing is rapidly increasing,” she said.
“Although Amazon’s entrance into the Australian market was underwhelming, the company has been increasing its footprint across the nation, as it sees the growth potential in the online retail space.”
Callum Stenson, State Director for <a href="http://www.savills.com.au/services-and-sectors/industrial.aspx" target="_blank">Industrial &amp; Business Services</a> in Queensland said that he had observed an increase in investor enquiries about industrial warehouses for transport and logistics in response to growing recognition of Australia’s online retail market. 
“While sales activity in the current financial year was notably less than the records set in FY-16 and FY-17, we are going to see a comeback over the remainder of 2018, particularly from domestic investors who see the diversification benefits in investing across grades and precincts,” he said.
“There was a notable drop in offshore investors purchasing industrial assets as a lack of large prime-quality offerings were available for sale.”
Mr Stenson noted that when looking at leasing activity, the 12 months to June 2018 saw tenants from the Transport &amp; Logistics sector dominate overall leasing activity and account for more than half of the total space leased in Brisbane’s industrial market.
There is a growing demand for industrial facilities to become more integrated business facilities supporting multiple types of transportation, especially as Australia’s international trade continues to increase at a rapid rate. 
Growth projections made by HSBC Trade Connections forecasts Australia’s trade to grow nearly 130% by 2025, almost double the global rate.
Fringe areas which extend as far as the Gold Coast have also recorded notable increases and confidence.
Logistics giant Toll Group has signed a pre-commitment for a purpose built facility on the Gold Coast site formally known as home to multinational Colgate-Palmolive.
Renamed Gold Coast Logistics Hub, the 22ha Arundel site was purchased last year by the Asia Pacific logistics property specialist, LOGOS Property and Global Fund Manager Partners Group for more than $20 million.
Toll has committed to an initial 12-year lease across a 10,250sq m logistics facility, with Savills recording it as one of the largest industrial deals done on the Coast in recent times.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/5/southport1.jpg" alt="">  Artist Impression of Gold Coast Logistics Hub.
Mr Stenson said that the commitment enabled Toll to consolidate several existing facilities and bring their operations together in under one roof.
The masterplanned layout for the Hub provides flexible design and construct solutions from 3,000sq m to 30,000sq m. 
”The Hub will provide local occupiers with quality opportunities, representing the last scalable infill site in the central Gold Coast region,” Mr Stenson said.
Brisbane’s Southside and Trade Coast precincts recorded the largest falls in market yields in the year to June 2018.
Looking forward, Ms Mallik said that infrastructure projects were providing the impetus for developers and institutional land owners to bring speculative development back to the forefront, recognising the recent lift in leasing demand, particularly in well-located locations close to major arterial roads. 
“While both leasing and sales activity were down in the most recent financial year compared to the previous year, it is expected that 2018 will continue the trend of strengthening tenant and buyer demand, as indicated by industrial job advertisement growth in Queensland, which is now the third highest nationally,” she said. 
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Callum Stenson is Savills QLD State Director for <a href="http://www.savills.com.au/services-and-sectors/industrial.aspx" target="_blank">Industrial &amp; Business Services</a>. Shrabastee Mallik is Savills Associate Director for <a href="http://www.savills.com.au/research/australian-research.aspx" target="_blank">Capital Strategy &amp; Research</a>. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

Brisbane industrial hits investor lists following QLD's economic turnaround: Savills

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A corner property with development potential in Prahran will be auctioned September 13.
Located at 182-194 Commercial Road on the corner of Izett Street, the property is situated opposite Prahran Market.
The property comprises three double storey, double fronted Tudor style commercial buildings, with a variety of retail and office tenancies in excellent condition which benefit from outstanding street exposure.
The building sits on an 1126 square metre site, zoned Activity Centre, with three separate titles offering a combined frontage of 28 metres to Commercial Road and 40 metres to Izett Street as well as a rear laneway boundary of 28 metres.
Activity Centre zoning encourages intensive development as a focus for business, shopping, working, housing, leisure, transport and community facilities.
The property will be sold subject to multiple tenancies on lease expiries returning a combined $365,808 per annum net.
According to marketing agents, Teska Carson’s Adrian Boutsakis and Michael Ludski, the property offers "exceptional" development upside.
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j.ballantyne1990-6AQqhLzZaK

Corner Prahran retail with development potential to go under the hammer

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With the industrial multi-unit development market becoming saturated in Melbourne’s well regarded industrial suburbs, developers are looking for new ways to set their product apart from the competition, according to Herron Todd White (HTW).
The valuation firm noted recent times had seen adaptable spaces with brighter designs.
"Developers will modify the spaces to meet the purchaser’s requirements," the September HTW industrial report noted.
"Such product is being strongly supported by investors assuming strong WALEs and owner-occupiers looking to operate their small businesses or meet their ever- growing storage needs."
HTW also noted the strata industrial space was also being driven by the requirement to redevelop dated and functionally obsolete industrial properties into smaller, concrete tilt panel strata developments.
Most industrial strata spaces comprise a mix of concrete tilt panel and aluminium glazed facades to provide natural lighting and in turn, a positive work environment for their occupants.
"We are seeing strata industrial developments continuing to grow in the inner-city markets, particularly in the inner west, north and east, due to high land values in these areas."
An example of an industrial infill development is 10 Cawley Road, Yarraville 3013, where 50 small strata units have been constructed to provide both self-storage and office/warehouse unit accommodation (ranging between 107 and 203 square metres).
Another development which is combining small scale storage units and high-tech office/warehouse units is The Assembly, located at 329 Bay Road, Cheltenham 3192 (pictured above).
The development is nearing completion with most units being secured by pre-commitment sale transactions prior to completion.
The development focuses on being aesthetically pleasing, as demonstrated by the architecturally designed units and incorporating vertical garden walls, as well as being pragmatic at the same time, creating the perfect balance for occupants.
Where larger land allotments are more readily available and affordable, such as in the outer west and south-eastern markets, HTW suggested there has been an increase in large scale distribution centres being constructed, particularly within proximity of major transport routes.
"As the online shopping market continues to develop, many businesses are seeking to expand their operations to incorporate options for distribution to their customers," the report said. 
"Smaller office to warehouse ratios are being constructed to coincide with technology advances and work-life balance, with employees able to work from home, creating a reduced requirement for high office to warehouse ratios in part."
Aside from the above, currently planned infrastructure upgrades and road projects will benefit the industrial corridors across Victoria and the sector as a whole.
"Projects include the Western Ring Road upgrade, CityLink Tulla widening, West Gate Tunnel project and the anticipated North East Link project.
"The completion of these upgrades will positively impact the aforementioned growth corridors across Melbourne and allow for further efficiencies with regard to transportation and logistics, particularly with regard to the growth in e-commerce and the importance of distribution centres.
"These infrastructure upgrades are creating stable links between destinations, reducing the risk of contingency when transporting goods.
Across the industrial market, rents have continued to stabilise with little movement noted by HTW.
Yields on  the other hand are a different story, in particular well-located investment properties with strong lease covenants and WALEs, with yields continuing to firm.
"We expect that with the supply of englobo industrial land throughout Melbourne, industrial developments will continue to meet demand for both owner- occupiers and investors."
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Melbourne industrial developers trying to stand out as rents stabilise: HTW

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Regional areas of New South Wales have some of the nations strongest performing industrial markets, according to valuation firm Herron Todd White (HTW).
NSW areas Coffs Harbour, Lismore and Orange are the newest locations to reach the peak of the market.
They have joined Griffith, also in NSW, and the Gold Coast, while Dubbo, which was at the peak of the market in HTW's June clock, is now declining and approaching the bottom of the market.
Melbourne dominate the capital city industrial market. They're approaching the peak, while Sydney, Brisbane and Hobart are a rising market.
Click here <a href="https://www.propertyobserver.com.au/images/2018/9/3/HTW_COMM.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/3/HTW_COMM.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Regional New South Wales shows industrial strength: HTW

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The Victorian Liberal Party has sold its Melbourne CBD headquarters. 
Colliers International Melbourne City Sales team of Daniel Wolman, Matt Stagg and Oliver Hay secured $37.1 million after over 110 genuine enquiries and received 10 strong and reputable bids.
There were $30 million plus hopes for the six-level, blue-chip building on Exhibition Street.
It was sold by the cash-strapped Liberals who took out a $2 million mortgage against the building after their jailed, former state director Damien Mantach stole $1.5 million from the party.
The rentals within the building were earning $1.3 million in rent in 2018 compared to $810,000 in 2016.
<div class="cq-article-content-paras section">
Known as Centenary Hall and built in 1935, the six-level 104 Exhibition Street building was acquired at auction by Vapold Pty Ltd, a Liberal Party vehicle, for $576,000 in 1976.
The circumstances of the party's purchase led to an inquiry after it was sold by the Hamer Liberal Government.
The inquiry cleared the Liberal Party and the Government of any impropriety.
The building has 2,550 square metres of space.
</div>
<div class="cq-article-content-paras section">
The Liberal Party occupies a whole floor in the building while level four has been home to the famed Tolarno Galleries, founded by George and Mirka Mora in the 1960s.
</div>
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104 Exhibition Street, Melbourne sold by the Victorian Liberal Party

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The Victorian Liberal Party is selling its Melbourne CBD headquarters.
There's $30 million plus hopes for the six-level, blue-chip building on Exhibition Street.
It is being sold by the cash-strapped Liberals who took out a $2 million mortgage against the building after their jailed, former state director Damien Mantach stole $1.5 million from the party.
The rentals within the building were earning $1.3 million in rent in 2018 compared to $810,000 in 2016.
<div class="cq-article-content-paras section">
Known as Centenary Hall and built in 1935, the six-level 104 Exhibition Street building was acquired at auction by Vapold Pty Ltd, a Liberal Party vehicle, for $576,000 in 1976.
The circumstances of the party's purchase led to an inquiry after it was sold by the Hamer Liberal Government.
The inquiry cleared the Liberal Party and the Government of any impropriety.
The building has 2,550 square metres of space.
</div>
<div class="cq-article-content-paras section">
The Liberal Party occupies a whole floor in the building while level four has been home to the famed Tolarno Galleries, founded by George and Mirka Mora in the 1960s.
</div>
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104 Exhibition Street, Melbourne listed by the Victorian Liberal Party

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Betty's Burgers &amp; Concrete Co. are set to open their third Sydney restaurant as they take a lease on Manly Wharf.
Set to open later this year, Betty's Burgers will sit on the ground level of the two level development of the Manly Wharf, which will feature two new restaurants.
Colliers International agent Joshua Bush, who secured the lease, said locals and tourists will be able to experience a new angle of Sydney’s landscapes, while enjoying a quality restaurant offering with convenient access via the Manly Ferry Terminal.
“The addition of Betty’s Burgers is a big win as this restaurant will support Manly Wharf staying relevant, with changing consumer expectations and dining preferences," Bush said.
“This dining precinct is a refreshing edition to the Northern beaches and once completed, will undoubtedly be one of the most popular dining precincts in Sydney.”
Betty’s Burgers David Hales, who opened up shop in Noosa, says Sydneysiders love their burgers.
“Opening another Sydney location is unbelievably exciting and has truly exceeded our expectations of where we thought we would be four years ago when we opened our original Betty’s in Noosa," Hales said.
“We know the Sydney burger market is competitive, however Sydney seems to love our fresh, tasty burgers and our relaxed beach shack vibe, so we are looking forward to sharing Betty’s with everyone in Manly.”
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Betty's Burgers to open new restaurant at Manly Wharf development

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EXPERT OBSERVER
<div id="post-body-5407871025761201231" class="post-body entry-content">
<div>Investors squashed</div>
<div> </div>
<div>APRA's latest monthly banking statistics reported negative growth in investment loan exposures in July.</div>
<div> </div>
<div>Commonwealth Bank, ANZ Bank, Westpac Banking Corp, and Suncorp all recorded an outright decline in outstanding housing investment loans, while NAB's investment loan book was broadly flat. </div>
<div> </div>
<div>Year-on-year growth is either negative or slowing for each of the major banks. </div>
 <div class="separator"><a href="https://2.bp.blogspot.com/-LUd2DkjnNyQ/W4jYw_YUa9I/AAAAAAAAruk/0kMJO3Rn0woMwmcQ8naGWIk90CKq_tM7QCLcBGAs/s1600/APRA1.jpg"><img src="https://2.bp.blogspot.com/-LUd2DkjnNyQ/W4jYw_YUa9I/AAAAAAAAruk/0kMJO3Rn0woMwmcQ8naGWIk90CKq_tM7QCLcBGAs/s640/APRA1.jpg" width="640" height="370" data-original-height="800" data-original-width="1380"></a></div>
 <div>The Reserve Bank of Australia (RBA) also reported that year-on-year investor credit growth hit its lowest level on record in July 2018.</div>
<div> </div>
<div>With annual personal credit growth contracting even further to -1.4 per cent and business credit growth slower than a year earlier at just 3.4 per cent, the growth in total credit is now at the lowest level since the first quarter of 2014.</div>
<div> </div>
<div>Lending to homebuyers remains solid, but broad money growth is tracking at quarter-century lows. </div>
<div> </div>
<div class="separator"><a href="https://2.bp.blogspot.com/-62-d91RX9QY/W4jSs7OqIUI/AAAAAAAAruQ/ecqCCrMsQwQtihDoGVNzZSsggQbVyaE6gCEwYBhgL/s1600/RBA2.jpg"><img src="https://2.bp.blogspot.com/-62-d91RX9QY/W4jSs7OqIUI/AAAAAAAAruQ/ecqCCrMsQwQtihDoGVNzZSsggQbVyaE6gCEwYBhgL/s640/RBA2.jpg" width="640" height="370" data-original-height="803" data-original-width="1382"></a></div>
 <div>The housing investor market share fell further to 33.2 per cent, now having fallen back in line with the average level for this millennium to date (there have evidently been a few misclassifications along the way). </div>
 <div class="separator"><a href="https://2.bp.blogspot.com/-WIlXPESvdWQ/W4jStMOt7AI/AAAAAAAAruU/hxDMv58ahysDC9EQi6kVEszUsmxP4QrGgCLcBGAs/s1600/RBA1.jpg"><img src="https://2.bp.blogspot.com/-WIlXPESvdWQ/W4jStMOt7AI/AAAAAAAAruU/hxDMv58ahysDC9EQi6kVEszUsmxP4QrGgCLcBGAs/s640/RBA1.jpg" width="640" height="352" data-original-height="801" data-original-width="1454"></a></div>
 <div>Equal &amp; opposite reaction</div>
<div> </div>
<div>Housing markets can be a finely balanced affair, with the strong level of rental supply of recent years now set to reverse.</div>
<div> </div>
<div>Given that we've been through a period of strong immigration/population growth alongside falling home ownership rates, from a macro perspective presumably this must be leading to rental shortages in some parts of the country (not so much in the big capital cities yet, due to the high level of off the plan apartment purchases through this cycle and the related lag effect). </div>
<div> </div>
<div>I don't have much time to look at it today, but a quick glance at the stats shows rental vacancy rates plunging towards zero in Orange, from certain parts of Adelaide to Ballarat and Canberra, and from Geelong West to Hobart and Moranbah. If the investor squeeze persists Melbourne may be next of the largest metropolises. </div>
<div> </div>
<div>Still plenty of apartment supply to be absorbed in the big cities, but this will be one trend to watch with interest.</div>
<div>
 PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
</div>
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pwargent-M4siyDbqQY

Investors squashed further: Pete Wargent

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There was a silly suggestion the pickup in last weekend's Sydney clearance rate to 59 percent followed Scott Morrison's elevation to Prime Minstership.
But with a dismal 31 percent auction success rate in the Sutherland Shire, that perhaps needs a rethink.
Most economic trends only come after a lag, as the RBA Assistant Governor Luci Ellis recently observed.
But I do expect there will be a sharper focus on housing affordability among politicians between now and the Federal election.
Maybe the next election will even see a marked debate over negative gearing policies unlike the last. 
The recent Federal budget was light on housing initiatives, but Scott Morrison's 2017 budget saw a raft of measures.
Some were pitched at getting headlines, some aimed at long term structural changes, and some pitched as softening demand in what was then a peaking property market, which also happened to help the budget bottom line.
Morrison has been the most attentive to housing affordability of any treasurer in recent times.
He gave a keynote speech last year that noted housing affordability is not a new problem, pointing out, he like anyone in Sydney had actual experience that it has never been easy to buy a home. 
Morrison's first property purchase cost $330,000 with his wife, Jenny, bought in Bronte in 1995, where he grew up as a child, and then they upgraded to the Shire at $920,000 in 2009.
He rightly suggested, dealing with housing affordability must involve a scalpel, not a chainsaw given the likely or even unintended consequences of policy shifts.
He warned declining housing affordability can't be answered with lower economic growth especially as some two million taxpayers have an interest in a residential investment property.
Around 1.3 million of these taxpayers negatively gear, as mum and dad investors put a roof over the head of around a quarter of all renting households in the country.
Morrison has noted the Labor policy disrupting negative gearing would come at a cost, not only for investors but also to the households who rent. 
It was interesting for him to suggest previous governments had avoided dealing with many housing issues "for fear of raising and disappointing expectations."
There are some who argue the long run of low interest rates along with reduced price growth has lessened the need for the provision of negative gearing benefits.
Lower interest rates have cut the cost of money investors borrow and – as a result – the losses being claimed on tax.
But there will be a time when investors will seek out the opportunity.
Taking the prospect of the benefits away will lessen the demand for property.
Labor says its intends to reform negative gearing and the capital tax discount from a yet-to-be-determined date after the next election.
Subject to legislation, investors will likely not be able to use net investment losses on existing properties to offset wage income. And the capital gains tax discount on an investment property will be reduced to 25 per cent.
They have advised the negative gearing changes will be for existing homes, not newly built homes.
It is important to note Labor states that investments and tax arrangements already in place will not face retrospective impacts. 
So I expect there might just be a pickup in investors seeking out the opportunity of buying established property ahead of the election, given the possibility of a Labor win.
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Labor's negative gearing policy will see investors buy established property ahead of next Federal election

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GUEST OBSERVATION
Last week, the Federal Reserve Bank of Kansas City held its much anticipated annual central banking conference in Jackson Hole. This year’s topic “Changing Market Structures and Implications for Monetary Policy” garnered even more attention than usual.
This was in no small part because it highlighted that macroeconomists and central bankers now care a lot about what used to be the province of other fields of economics – what firms are doing. As a result, part of the mystery of why advanced economies have had a decade of low inflation and low wage growth is being unlocked.
One of the most interesting papers went right to this issue. Alberto Cavallo of Harvard Business School examined how online retailing – involving easily discoverable prices that are often determined by algorithms – can change the pricing behaviour of more traditional retailers and, it turn, impact inflation overall.
Could it be that the new economy has fundamentally changed how prices are set across the economy, thereby changing inflation dynamics and what our Reserve Bank is prepared to permit? If so it could have a significant effect on the so-called “real economy”.
The short answer is – quite possibly. But the details are both fascinating and important.
Cavallo makes use of data from the Billion Prices Project, which he co-founded with Roberto Rigobon, which scrapes price data from the internet. It contains more than 15 million daily prices, from 1000 retailers, across 60 countries, since 2008 (disclosure: Rigobon and I were colleagues at MIT). Cavallo adds country of origin data from Walmart products and product descriptions from Amazon to construct a proxy for online competition of each good. His data go down to the zip-code level so he can look at how prices vary within the US.
Cavallo shows that price changes have been happening more frequently. Multi-channel retailers – who sell both online and in “bricks-and-mortar” stores – have gone from changing prices once every 6.7 months in 2008–2010 to every 3.7 months in 2014–2017. Often these changes are cuts. This “rapid change effect” is strongest in categories like electronics and household goods, where online retailers have high market share.
The clear conclusion is that online competition is intense due to the easy availability of information about competitors’ pricing, and the ability to change prices cheaply, quickly, and often even algorithmically. Added to this is that charging different prices in different locations seems, from the data, to be harder than before because consumers can find out.
As one might expect, this also facilitates the rapid passthrough of shocks to prices that come from movements in exchange rates or fuel prices.
All of this means that there is more of a lid on prices than in the past – so lower average inflation – this is the “Amazon effect”. This would help explain why the US has 3.9% unemployment but no sign yet of runaway inflation.
The other implication is that retail prices are less insulated from macroeconomic shocks than in the past. This makes it harder to central banks to glean how the economy is travelling. In essence, prices contain more noise and less signal.
For Australia and the Reserve Bank the implications are similar, if a little more muted than in the US. Online retailing is not yet as widespread. But in many ways it doesn’t need to be widespread to discipline prices. The mere possibility that goods can be purchased online is enough to discipline traditional retailers.
As game theorists like to say, “out-of-equilibrium threats matter”. This could be a leading explanation for why inflation is low in Australia despite low interest rates and relatively low unemployment.
Because the Australian dollar is fairly volatile and we do import goods worth about 20% of GDP the “noise-to-signal” effect could be particularly strong in Australia – making things harder for the Reserve Bank.
The new economy has changed the overall economy in a host of ways from casualisation and the gig-economy to lower prices and new products. It will probably lead to a new era of monetary policy, but we don’t know what. As Reserve governor Phil Lowe is fond of saying: “time will tell”.<img src="https://counter.theconversation.com/content/102338/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;">
Richard Holden, Professor of Economics and PLuS Alliance Fellow, UNSW
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-online-retailing-is-changing-our-lives-whether-we-use-it-or-not-102338" target="_blank">original article</a>.
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