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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The former Casuarina Ocean Health Retreat, which sold for $4.1 million less than two years ago, is back for sale - asking double its last sale price.
The property at <a href="https://www.commercialrealestate.com.au/property/770-casuarina-way-casuarina-nsw-2487-2014552878" target="_blank">770 Casuarina Way</a> was also known as the Cabarita Ocean Health Retreat before it was shut down in 2015 by its then Brisbane family owners.
They decided to develop and 18-lot subdivision on 2.5 hectares behind the retreat. The area included the resort's tennis court and swimming pool.
They listed the property for $6.5 million, with Bruce Williams, the listing agent at the time, saying it was being sold "well below replacement cost". It went on to sell for $4.1 million after sitting idly on the market.
<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/2018/8/29/a6d088b2ebeb43ce87bc94f4997e5f6d.jpg" alt="">
Raine &amp; Horne Byron Bay agent Sophie Christou, the listing agent this time round, said its $8 million to $8.8 million guide is still below replacement value.
The resort dates back to the 1970s when developed by Cabarita identity Ken Hansen. It has passed through the hands of several owners and run as a holistic health spa before ending up with the Brisbane family.
Until a few year ago, guests were paying up to $1045 a day to stay there, indulging in detoxifying therapies, massages, consultations with a naturopath and macrobiotic foods.
The retreat with direct access to Casuarina Beach boasts 12 bohemian inspired ensuited bedrooms, a day spa with six treatment rooms, gym, and a yoga room.
There's approval for a restaurant or cafe open to the public, as well as approval for a 25 metre swimming pool and an extra gym.
A rooftop terrace has views to Mount Warning.
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Byron Bay's former Casuarina Ocean Health Retreat wants double its 2016 sale 

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GUEST OBSERVATION
Australians should be able to see who donates to political parties, but our political donations laws fall far short of this ideal. Recent reforms in New South Wales and Victoria mean that voters will have much better information about who is donating. But when it comes to donations at the federal level, voters remain largely in the dark.
Money in politics is regulated to reduce the risk of interest groups “buying” influence. Explicit quid pro quo is probably rare: as the saying goes, “you never bribe someone when you need them”. But the risk is in more subtle influence: that donors get more access to policymakers, or their views are given more weight.
Publishing information about larger donors creates a public check on this behaviour. Voters are able to see who political parties rely on for funding, and MPs are more accountable for their subsequent decisions.
States are improving transparency
The trend in the states is promising. Victoria and NSW both increased the transparency of political donations last month.
In Victoria, donations of $1,000 or more will have to be disclosed to the Victorian Electoral Commission within 21 days. Anonymous donations of $1,000 or more are banned. Victoria even capped donations at $4,000 and increased public funding for election campaigns, which might help reduce the reliance of parties on larger contributions (but also comes with other risks).
NSW’s already extensive donations regime was tightened from July 1 this year. NSW political parties are now required to disclose donations of $1,000 or more within 21 days during election campaigns (as in Victoria), and within six months otherwise.
When it comes to transparency, Queensland does one better: the 2017 state election was Australia’s first with “real time” disclosure. Donations of $1,000 or more are lodged through an online portal and are made public within seven working days. The Queensland Electoral Commission even provides interactive maps of donations by electorate.
Most other states also have decent disclosure requirements. In South Australia, parties are required to disclose donations of $5,310 or more every seven days during an election period (and every six months otherwise). The disclosure threshold in Western Australia is $2,300.
Tasmania is the only state with disclosure laws as weak as the Commonwealth’s.
These laws mean voters can know, before they go to the ballot box, who is funding parties’ election campaigns.
The Commonwealth has a long way to go
The states are taking political donations reform seriously – and that’s a good thing. But state reforms are limited by state boundaries. Until the Commonwealth catches up, we won’t be able to “follow the money” across all jurisdictions.
Under Commonwealth regulations, it can take up to 19 months for donations to be made public. That’s why Prime Minister Malcolm Turnbull’s $1.75 million donation to the Liberal Party in the lead-up to the 2016 election was not officially made public until the start of this year.
Only donations of more than $13,800 are required to be disclosed. And there is no requirement to aggregate donations, which means an individual donor can make a series of donations below $13,800 without disclosure.
The result is a huge amount of money in the federal system that we know nothing about. Parties received more than $100 million from undisclosed sources in the two financial years spanning the 2016 federal election. Without this information, it is difficult for public scrutiny to provide a “check” on the possibility of donor influence.
Some of this money no doubt came from “mum and dad” donors contributing $100 to their preferred party. But some is probably the result of “donations splitting”, where people or organisations make multiple donations below the threshold. Some might also be income from fundraising dinners and business forums, for which attendees pay thousands for an opportunity to “bend the ear” of elected representatives.
Donations can also be filtered through associated entities of the parties. This makes money (and influence) even more difficult to track. These entities – unions, investment funds, or fundraising organisations – occasionally frustrate donations restrictions by taking money on behalf of “their” party.
In a particularly egregious case, investigations uncovered that hundreds of thousands of dollars in unlawful donations had filtered into NSW Liberal Party accounts through a federal associated entity.
Let the sun shine in
Growing public cynicism about special interest influence is partly born of secrecy. Simple changes could vastly improve what we know about money flowing to Commonwealth political parties.
The disclosure threshold should be lowered as the states have done. The current threshold of $13,800 is well above the amount that a regular voter could afford to contribute to a political cause. A lower threshold of around $5,000 would still protect the privacy of small donors while improving transparency and accountability.
Disclosure of donations should be much quicker. Queensland and South Australia now have “real time” disclosure during elections; the Commonwealth can clearly do better than a 19-month turn-around. Disclosure within three weeks – as in NSW and Victoria – would be far superior to the current system.

The states’ political donations laws aren’t perfect, but they are heading in the right direction. It’s time for Canberra to catch up.
Carmela Chivers, Associate, Grattan Institute
Danielle Wood, Program Director, Budget Policy and Institutions, Grattan Institute
Kate Griffiths, Senior Associate, Grattan Institute
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/time-for-the-federal-government-to-catch-up-on-political-donations-reform-100822" target="_blank">original article</a>.
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Time for the federal government to catch up on political donations reform: Grattan Institute

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The Windsor home of late night venue The Lucky Coq on the busy Chapel Street has been listed for sale for the first time in nearly five decades. 
The 355 sqm site with double street frontage at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-windsor-502909422" target="_blank">179 Chapel Street </a> is currently leased to multi-venue hospitality operators Colonial Leisure Group.
<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/2018/8/lucky2.jpg" alt="">
Subject to a 12 year lease, the prime property has a 3am 'general' liquor licence in place.
CBRE Hotels agents Scott Callow and Will Connolly have expressions of interests until September 12.
 
 
<h2 class="PrimaryDetails_headline_W569Z"> </h2>
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jrobinson-rf4aSBido9

The Lucky Coq premises on Windsor's Chapel Street for sale

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EXPERT OBSERVER
<div>A double-shot Friday, with speeches from both Reserve Bank Governor Lowe and Assistant Governor Luci Ellis.</div>
<div> </div>
<div>Lowe's speech effectively confirmed that the inflation target is asymmetric.</div>
<div> </div>
<div>Although 'committed' to the 2 to 3 per cent inflation target, the next move in interest rates will be up, he noted, even though inflation is yet again set to fall below the target. As energy and fuel price pressures ease the rate of inflation will likely drop over the second half of the year. That's good to the extent that it eases pressure on household budgets, of course. But, in the spirit of Mr. Micawber, it is hoped that eventually inflation will pick up again. Amazon might have something to say about that as retail price deflation again rears its head. Rates on hold
</div>
<div> </div>
<div>Whether you agree or otherwise, at least it's been made clear: the cash rate is going to be set at 1.5 per cent for a long time! Probably a very long time.</div>
<div> </div>
<div>Lowe also delivered an interesting interpretation of housing credit dynamics, noting that the slowing of the housing market had reduced demand for credit by investors, in doing so citing low mortgage rates as evidence that the reduced supply of credit has not been the main story.</div>
<div> </div>
<div>The plural of anecdote is not data, but that's not quite the feedback we've been getting from mortgage brokers. </div>
<div> </div>
<div>Semantics, maybe, given the reflexive nature of such things.</div>
<div> </div>
<div>Luci on lags</div>
<div> </div>
<div>Assistant Governor Ellis also presented an interesting speech on lags, showing how the unemployment rate has been improving (if not very much for the long term unemployed).</div>
<div> </div>
<div>No arguments there, although building permits are now falling away outside Melbourne (OK, and Hobart), while money growth is now at the lowest level in more than a quarter of a century. </div>
<div> </div>
<div>If those weak leading indicators persist, then eventually the economy will start to slow too...yes, it's those pesky lags again!</div>
<div> </div>
<div>Maybe that's already happening, according to the timeliest business surveys.</div>
<div> </div>
<div>The labour force figures released this week also showed that the growth in hours worked is already on the way down. </div>
 
<div><a href="https://3.bp.blogspot.com/-kDmz34Ipxs0/W3dJwWlfd7I/AAAAAAAArlU/3SWaE5U_PZwsGrTrZ21uEB5LO6qLF99oACLcBGAs/s1600/a1.jpg"><img src="https://3.bp.blogspot.com/-kDmz34Ipxs0/W3dJwWlfd7I/AAAAAAAArlU/3SWaE5U_PZwsGrTrZ21uEB5LO6qLF99oACLcBGAs/s640/a1.jpg" width="640" height="378" data-original-height="795" data-original-width="1342"></a></div>
Long story short, inflation is low because the economy remains well below its full capacity.
<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>
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pwargent-M4siyDbqQY

The cash rate is going to be locked at 1.5 per cent for a very long time: Pete Wargent

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EXPERT OBSERVER
Prospective home buyers beware, Australian real estate prices are likely to escalate further now the New Zealand government has moved to tighten up on foreign ownership.
Australia needs urgently, to follow New Zealand’s example and crack down on foreign ownership or even more Australians will miss out on the chance to own their own home.
The pressure on Australian property prices is likely to increase substantially with New Zealand tightening its foreign investment rules and overseas buyers forced to look elsewhere to invest.
The New Zealand Government has the courage to tackle the issue of housing affordability head on but what about Australia?
You don’t have to be a rocket scientist to work out where these foreign buyers will divert their attention and buying power now that the New Zealand Government has passed new legislation to address this growing problem.
New laws were just passed in New Zealand Parliament this week banning foreigners from buying most types of property after a foreign spending spree has seen prices pushed up and local buyers pushed out.
According to the latest figures from the Australian Tax Office's Agricultural Land Register 13.6 per cent of all Australian agricultural land is foreign owned with the UK and China the largest owners.
Sadly they don’t know how much non-agricultural land is in foreign hands.
It’s important to remember that China alone has more decamillionaires than Australia has tax payers.
The New Zealand Government has clearly recognised the very real threat foreign ownership poses to housing affordability with rates of homelessness in the country among the highest in the developed world.
In contrast, the Australian Government seems to keep fiddling around at the edges rather than addressing the problem head on.
Much of the current generation have already been priced out of the market due to the high number of foreign buyers outbidding Australian citizens in particular over the past decade and this will only get worse unless significant policy changes are implemented.
Australia’s relatively strong economy and consistent capital growth in its major cities over many decades is part of the attraction to foreign buyers and will continue to drive foreign ownership of prime Australian land, both regionally and in the cities, pushing prices even higher.
It is obvious that non-residents eager to buy Australian real estate will do so if you make it easy for them because they see Australia as a stable economy and a safe place to store their money
Patrick Bright is the EPS Property Search director and author of The Insider’s Guide to Buying Real Estate
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pbright-aNtgvRfvJN

Australia needs to follow New Zealand's lead and act now on foreign ownership: Patrick Bright

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New figures have revealed the popularity of townhouses is soaring, with approvals for new townhouses at record levels in Australia’s biggest cities.
In the 12 months to December 2017, townhouse approvals had the strongest year on year growth at 21% in Victoria (VIC) and 28% in New South Wales (NSW). 
Conversely, in the same period, the number of approvals for detached houses in NSW and VIC fell by 2% compared to the previous year – with <a href="http://www.ironfish.com.au/blog/2017/08/03/townhouses-next-big-thing/">more Australians</a> shifting away from detached houses in favour of higher density living.
An analysis of ABS dwelling unit data over the last 5-7 years has shown an exponential increase in townhouse approvals as more developers seek to meet this growing demand.
In 2017, annual townhouse approvals rose by 124% in Victoria (VIC) and 128% New South Wales (NSW), compared to 2011 figures. 
<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/2018/8/8/IRONFISH%201.jpg" alt="">
Housing approvals drop
While the rate of growth for townhouse approvals has remained robust and positive for the last 5 years, the rate of growth for traditional detached housing approvals has been declining over the same period, with weaker overall year on year growth.
<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/2018/8/8/IRONFISH%202.jpg" alt="">
<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/2018/8/8/IRONFISH%203.jpg" alt="">
Over the past 5 years, VIC townhouse approvals averaged an annual rate of growth of 14.4% and NSW townhouses averaged an annual rate of growth of 15.3%. Detached housing approvals increased at lower rates of 2.6% and 9.3% respectively.
<h4>Houses &amp; Townhouses – 5 year rate of growth</h4>
<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/2018/8/8/IRONFISH%204.jpg" alt="">
<h2>Comparable backyard to a House &amp; Land</h2>
Typically, townhouses provide a more affordable, family-friendly alternative to a detached house, with more indoor and outdoor space and privacy than an apartment, but without the cost and upkeep of a larger home on a big block.
What’s interesting to note, however, is that many new townhouses aren’t compromising so much in the way of backyard space anymore.
As the cost of land continues to rise across the nation, block sizes are <a href="http://www.ironfish.com.au/blog/2017/11/07/smaller-blocks-larger-price-tags-aussies-opting-big-backyard/">continuing to decrease</a>, ultimately resulting in smaller backyards. In some cases, these backyards are the same size or only slightly larger than the backyard you would find in a townhouse.
In the Sydney suburb of Schofields for example, townhouses can offer up to around 70% as much backyard space as a standalone house &amp; land package – with a substantial price saving to boot.
<h4><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/2018/8/8/IRONFISH%205.jpg" alt=""></h4>
For the growing number of families wanting a backyard without compromising their ‘lock up and leave’ lifestyle, townhouses can offer the ideal solution. Even a quick poll at Ironfish HQ, revealed the popularity of this lifestyle choice.
<blockquote>
“We currently live in an apartment with a young family and would likely choose a townhouse in our area as our next move,” said Ironfish staff member Manisha Lee. “We don’t want to compromise on our location and we want to be within an easy commute to work. A townhouse is a more affordable way to have that extra bedroom and backyard space that we need compared to a standalone house or terrace-house in the same area.”
“And to be honest, we’re used to apartment living; we don’t want the headache of having to maintain a property ourselves – we have enough on our plate with working fulltime and raising young kids as it is! Having someone else manage the maintenance makes it much easier.”
</blockquote>
<h2>Location, location</h2>
Not only are townhouses an affordable option compared to detached housing, they are also increasingly better positioned in new master-planned communities.
A growing trend we are now seeing is that councils and developers are positioning townhouses in prized locations, near parks or on the waterfront. They also tend to be in closer proximity to transport hubs, retail and other amenities compared with house &amp; land.
<h2>Luxury and affordability</h2>
With rising land prices in Sydney and Melbourne, affordability has been a key driver for prioritising townhouses across urban planning measures. The NSW Department of Planning and Environment, for example, states that medium density housing provides an important alternative, offering more affordable housing choice in a market that has traditionally been a mix of fully detached housing and apartments.
However, townhouses do come in a variety of different sizes and price points and are not necessarily pitched exclusively at entry level buyers.
<blockquote>
Domain Data Scientist, Dr Nicola Powell, points out that many developers are now including fittings and fixtures and architectural design standards more closely linked to the luxury end of the housing market. They are also better catering for families with younger children through the inclusion of common gardens or other leisure spaces.
</blockquote>
<h2>The rise and rise of townhouse living</h2>
In the 2016 Census, the growing shift away from detached housing towards higher density living was revealed. Townhouses accounted for 12.7% of resident homes in Australia, up from 9.9% in 2011 – while detached houses, though still the majority, continued their longer-term declining trajectory from 75.6.7% to 72.9%.  
<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/2018/8/8/IRONFISH%206.jpg" alt="">
“In the face of affordability constraints, changing lifestyle choices and an expanding population, we expect townhouse living is only going to increase in popularity,” said Ironfish Head of Property, William Mitchell.
“And as more new townhouses are built to meet this growing demand, it’s likely the next Census data set will show an even stronger uptake of townhouse living.”
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Are townhouses the new house?

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EXPERT OBSERVER
For Australia, the past seven days have been focused on the labour market, with updates for wage growth and employment received.
On employment, the 4k decline in jobs in the month of July was well below the market’s expectation, but in line with our own. Given it follows an outsized 58k gain in June, the weak July outcome is certainly not a cause for concern. Indeed the past three months have seen an average monthly gain of 22k, ahead of the 18k trend pace of growth. Looking ahead, we anticipate that momentum in employment will slow in the second half of 2018.
Based on employment growth, wages growth should be much stronger than the 2.1% reported for the year to June 2018. Here we see the impact of the underutilisation of workers which, in our view, is set to remain a significant concern hence. Broadly we believe this under-reported slack will hold nominal wage inflation around 2.0% through the remainder of 2018 and 2019 and, as a consequence, real wage growth will be negligible. This situation will continue to weigh on households’ perceptions of their family finances and willingness to spend.
Another important consequence of inflation persistently at the lower-bound of the RBA’s target range and weak (or no) real wage growth is that household’s inflation expectations are suppressed. Our Chief Economist Bill Evans has taken up this important topic this week. The take-home point for policy is that “there must be a risk that, at least from an expectations perspective, low inflation is embedded in the system for longer than the Bank and the market are currently expecting”.
Outturns as above would be a stark contrast to the positive expectations of the Government and the RBA – the latter re-iterated during Governor Lowe’s appearance before the House of Representative’s Standing Committee on Economics this week. This is why we believe aggregate growth in 2019 will be sub-trend, and that the RBA will remain on hold into 2020.
Turning to the US, the New York Federal Reserve’s consumer credit survey was the highlight, but out of the headlines. Conflict between the US and Turkey instead remained front of mind for the press. This is a highly uncertain situation, and is unlikely to be resolved soon. We are not overly concerned by the effect this situation will have on global trade or growth, but we are mindful of potential spill-over effects to the European banking sector (who have considerable exposure to Turkish corporates) and to sentiment towards other emerging markets. Developing nations geographically near Australia are in a far better situation than Turkey and where they were in the late-1990’s (based on current account and external debt metrics). Hence a real economy and/or emerging market financial market contagion in our region is highly unlikely. Still, amid uncertainty, market participants are likely to sit on the sidelines until the data confirms there is no need for concern.
As we continue to outline, the greater risk to the region is likely that emanating from China’s domestic banking system as it undergoes lasting change to rein-in shadow banking activity and shift the majority of credit supply to the banks. Chinese credit data is now available to July. In the most recent release, a further fall in shadow banking credit was seen such that credit provided by these shadow lenders has now only increased by about RMB700bn in 2018 compared to almost RMB3.5trn at this time in 2017. Greater lending by the banking system has only offset around RMB900bn of the reduction in new shadow credit in 2018, so total credit growth in 2018 is almost RMB2trn less than the prior year. This outcome is intended and well managed, but whenever a policy shift of this magnitude is undertaken, there are risks which must be monitored. It is not happenstance that Chinese regulators have recently acted to ease financial conditions and bolster market liquidity.
In these uncertain times, a clear positive for China’s economy is their housing market. In stark contrast to the 5.5% gain for total fixed asset investment, real estate investment is running at a 10% year-to-date pace. Further, the recent acceleration in starts implies that the majority of this momentum will be sustained into year end, particularly as continued robust price growth in tier 2 and 3 make for an attractive sales environment.
If gains for this sector are to endure, then both central and local authorities will need to push ahead with their intended long-term reforms to drive growth in industry and incomes across the nation. As we look ahead to next week, US/China trade relations will again fill the headlines, given a Chinese trade delegation is reportedly heading to the US for talks just before the US’ next round of tariffs are to take effect.    
Elliot Clarke is a senior economist at Westpac and can be <a href="https://www.westpac.com.au/news/authors/elliot-clarke/" target="_blank">contacted here.</a>
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Wages and jobs data point to a continued sub-par performance for inflation: Elliot Clarke

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A site in Sydney’s eastern suburb of Eastwood, already approved for residential development, is for sale.
CBRE is selling the <a href="https://www.commercialrealestate.com.au/property/179-183-shaftsbury-road-eastwood-nsw-2122-2014530729" target="_blank">179-183 Shaftsbury Road, Eastwood</a>  site on behalf of a mortgagee via an expression of interest campaign.
The development application was granted approval on 21 April 2017 for the development of 23 apartments on the 2219 square metre site.
It is zoned R4 High Density Residential.
Eastwood Public School, a local retail precinct, Eastwood Town Centre and the Eastwood train and bus interchange hub are noted by marketing as being beneficial.
<img src="https://www.urban.com.au/images/2018/8/16/Eastwood%20block%202.JPG" alt="">
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Eastwood residential development site in mortgagee possession for sale

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A new InterContinental is set to anchor the 1 Queen Street development at Auckland’s Commercial Bay.
The $1 billion mixed-use development project also includes retail facilities and a 39-storey tower with 39,000 square metres of office space.
The hotel will reportedly have water views in 90% of the hotel’s 244 guest rooms.
InterContinental are partnering with IHG and Precinct Properties for the project which is set to open in 2022.
Scott Pritchard, Chief Executive Office at Precinct Properties said InterContinental Auckland will offer the "best views in Auckland".
“The addition of the InterContinental Life further solidifies Commercial Bay as a truly mixed-use precinct, and we’re very proud to partner with IHG to bring this flagship property to life,” he said.
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InterContinental Auckland to anchor Commercial Bay development

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EXPERT OBSERVER
The announcement by the Victorian Government that they have allocated $500,000 to give councils funds to work with developers on the provision of affordable housing is a positive move.
The Victorian Government approach to delivering affordable housing seems to be based on councils and developers working together to achieve outcomes.
The government has allocated half a million dollars to help councils improve skills in negotiating a pathway for councils and developers to lock in affordable housing delivery as part of a project.
This approach seems to open the door for individual project based agreements where a developer can get some uplift to provide affordable housing.
A case by case approach is much better than a top down mandatory levy that can undermine the economic feasibility of a development project.
The Urban Taskforce believes that the NSW Government should also support an approach to the provision of affordable housing that allows a case-by-case approach where a reasonable uplift in floor space could be provided to support the provision of affordable housing.
This could be managed through the Affordable Rental Housing State Environmental Planning Policy that gives a floor space bonus if the developer includes a component of affordable housing that can be rented for a 10 year period.
The NSW Government’s Landcom agency is using this approach for the provision of affordable housing at Tallawong Station Precinct.
The Urban Taskforce is keen to work with the NSW Government and the Greater Sydney Commission to develop feasible policies that can provide affordable housing in Sydney and throughout NSW.
Chris Johnson is the Urban Taskforce CEO
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