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?

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<img src="https://counter.theconversation.edu.au/content/64733/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Federal Government’s plan to wind back superannuation tax breaks would create a fairer superannuation system more aligned to its purpose of providing income to supplement the Age Pension, according to new Grattan Institute analysis.
It would also contribute to budget repair.
The analysis shows how either of the reform packages proposed by both major parties would be a big step in the right direction. It explores how the current system provides much larger benefits to those with such ample resources that they will never qualify for an Age Pension. And it shows how the proposed changes would affect them - and pretty much nobody else.
As they debate the Coalition government’s proposals to wind back tax breaks on superannuation, politicians on all sides can do three big things: create a better and fairer superannuation scheme; take an important step towards repairing the Commonwealth budget; and show that our political system still works.
Both main parties have laid out their preferred reforms to super tax concessions. While they agree on all but the details, they are yet to strike a deal. Our new research shows what is at stake.
<h2>A better, fairer, super system</h2>
First and foremost, the proposed reforms to superannuation announced in the 2016 budget are about making super better, and fairer.
Tax breaks should only be available when they serve a policy aim. The purpose of super identified in the budget and <a href="https://sjm.ministers.treasury.gov.au/media-release/053-2016/">due to be defined in legislation</a> is to provide income in retirement to substitute or supplement the Age Pension. Super tax breaks don’t fulfil this purpose when they benefit those who were never going to qualify for an Age Pension in the first place.
The plans of both the government and the ALP would be big steps towards aligning super tax breaks more closely with their purpose. They would trim the generous super tax breaks enjoyed by the top 20% of income earners – people wealthy enough to be comfortable in retirement and unlikely to qualify for the Age Pension.
Retirees with large superannuation balances will start paying some tax on their superannuation savings, but still pay much less tax than wage earners on lower incomes. For a small proportion of women with higher incomes later in life, the changes will reduce their catch-up contributions. Yet the changes will reduce the tax breaks far more for wealthier old men.
Claims that the budget changes will affect many low and middle-income earners are wrong. Our research shows the changes will affect about 4 percent of superannuants, nearly all of them high-income earners who are unlikely to access the Age Pension. Nor are the proposed changes retrospective. Many reforms affect investments made in the past, and no-one suggests they are retrospective. Rather, the changes will affect taxes paid on future super earnings, and entitlements to make future contributions to super.
Any plausible combination of the packages on offer would make the super system fairer. At present, someone in the top 1% of income earners can expect to receive nearly three times as much in welfare and tax breaks from super in their lifetime as an average income earner. The government’s changes would trim some of these excesses: the top 1% would instead receive just twice as much as low or average income earners. And by targeting tax breaks that go to the top 20 percent of income earners, neither side’s plan would see much of an offsetting increase in Age Pension spending.
<h4><a href="/images/2016/09/06/image-20160904-20235-2lmns1.jpg" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/09/06/image-20160904-20235-2lmns1.jpg" alt="">
<h4>
Modelling on super reforms The Grattan Institute, Author provided
</h4>
<h2>An unsustainable tax system for seniors</h2>
Decisions by the former Coalition Government to abolish taxes on superannuation withdrawals in 2007 and radically increase the amount senior Australians could earn before paying income tax have dramatically reduced the tax bills of older Australians.
These changes are one of the main reasons why households over the age of 65 (unlike households aged between 25 and 64) now pay less income tax in real terms today than they did 20 years ago. At the same time, the workforce participation rates and incomes of seniors have jumped. Generous super tax breaks have been funded by deficits. The accumulating debt burden will disproportionately fall on younger households.
<a href="/images/2016/09/06/image-20160902-20241-1ljhnvu.jpg" target="_blank">Click to enlarge</a>
<h4><img src="/images/2016/09/06/image-20160902-20241-1ljhnvu.jpg" alt=""></h4>
Tax breaks to older Australians are also a major cause of the increase in the “taxed nots” identified by Treasurer Scott Morrison. The number of older Australians not paying any income tax has increased from three in four in 2000 to five in six today. The rise of these “taxed nots” coincides with the introduction of the Senior Australian Tax Offset in 2000, and tax-free super withdrawals in 2007.
<a href="/images/2016/09/06/image-20160902-20220-1h63t0l.jpg" target="_blank">Click to enlarge</a>
<h4><img src="/images/2016/09/06/image-20160902-20220-1h63t0l.jpg" alt=""></h4>
<h2>Repairing the budget</h2>
The increased cost of services and reduced taxes per older household explain in large part why the Commonwealth budget is in trouble. For eight years, budget deficits have persisted at about 2 to 3 percent of GDP, and the future looks little better. The returned Turnbull government is putting a priority on budget repair, now described as a “massive moral challenge” by the Prime Minister. Winding back some of the tax breaks given to older Australians during the happier times of the mining boom is an obvious step.
The government’s super package would save the budget at least A$800 million a year. Alternative proposals by the ALP, which broadly supports the Coalition’s reforms, and then goes further, would save more than A$2 billion a year. Should Treasurer Morrison seek a deal with the ALP or the Greens, any “concessions” will mostly improve the budget position.
Nor is the Turnbull government likely to find more attractive opportunities for budget savings. Unlike most of the government’s savings measures, changes to super tax breaks are broadly popular. Electorates more likely to be adversely affected by the super changes – that is, those with more old and wealthy voters – tended to swing less to the ALP at the last election than other electorates. And a survey before the election showed that the proposals had more support amongst those most likely to be adversely affected.
<h2>A test for our political system</h2>
Even after the reforms, super tax breaks will still mostly flow to high-income earners who do not need them, and the budgetary costs of super tax breaks will remain unsustainable in the long term. Further changes to super tax breaks will be needed in future. But agreeing to the super package now before the Parliament would be progress in the right direction. And there is a broader issue at stake.
Super is only the first of a number of difficult choices that will come before the Parliament as government seeks to promote economic growth in a sluggish global economy, and bring the budget back under control. There is no easy road to these ends that will keep everyone happy all the time. Pragmatic compromise will be critical.
The proposed changes to super tax breaks are built on principle, supported by the electorate and largely supported by the three largest political parties. If we cannot get reform in this situation, then our political system is in deep trouble. In coming weeks, our MPs have the chance to show how government in Australia can still change the nation for the better.
John Daley is chief executive officer, Grattan Institute, and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-daley-1870" target="_blank">here</a>.
Brendan Coates is a friend of The Conversation and can be contacted <a href="https://theconversation.com/profiles/brendan-coates-154644" target="_blank">here</a>.
William Young is associate, Grattan Institute and can be contacted <a href="https://theconversation.com/profiles/william-young-260984" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

New Grattan research shows what is at stake in the superannuation debate

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A new apartment development in Caringbah in Sydney's southern suburbs has frontages of 15.44 metres over two symmetrical five storey buildings.
Affinity at Caringbah, a development of 57 apartments, has two-bedrooms averaging 80sqm internally and three-bedrooms more than 100sqm, with external spaces ranging from 19sqm to 59sqm. 
The development on 1 and 3 Dianella Street is on a 4,292sqm site has two communal rooftop terraces and two basement levels with 104 car spaces for residents, plus 12 visitor spaces, provide unusually generous parking convenience for the Sutherland Shire. It is designed by architectural firm Baker Kavanagh
Kitchens feature Bosch appliances, Caesarstone benchtops, tile splashbacks, oak joinery, and a pull-out or built-in pantry. Master ensuites have a Caroma bath, shower and vanity, full-height wall tiles, and Phoenix chrome tapware and accessories.
Affinity Caringbah has:
o   4 one-bedroom apartments (61-62sqm internally plus 25-52sqm externally) with one car space from $690,000 to $725,000
o   40 two-bedrooms (80-92sqm internally plus 17-79sqm externally) with two car spaces from $795,000 to $1.15-M, and
o   13 three-bedrooms (101-111sqm internally plus 40-63sqm externally) with two car spaces from $1.12-M to $1.39-M
Strata levies are estimated to range from $650 to $1,200 per quarter.
Construction is slated to start early next year and be finished by late-2018. A display suite at 1 Dianella Street, Caringbah is open by appointment through Peter Shield of Ray White Erskineville on 0417 884 882, and Matt Otway of Belle Property on 0424 199 009. for more information, <a href="https://www.affinitycaringbah.com.au" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

New development slated for Sydney's Caringbah

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Prices have again been on the rise, but will the mighty Sydney residential market be tamed this spring like last spring? That's the big question as we start the peak selling season.
Probably not by much as buying demand is strong, and new supply remains low.
The early September low stock levels pretty much following the trend of much of the year. New listings are down by 20 percent year on year, according to CoreLogic.
Normally low listings mean vendors don't think they can get their asking prices.
But there's no such lack of confidence on that front with the Sydney weekend auction clearance rates stepping up through the 70s and even into the 80 percent plus stellar success levels.
Yes there is a back-of-mind anxiety about the future of the Australian economy which inhibits some listing activity.
The mid-year Federal election certainly didn't help momentum with Tracey Fellows, the head of realestate.com.au, saying uncertainty surrounding the July election outcome contributed to listings being down 11 per cent compared last year. 
Sydney's boom-like conditions are now effectively four years long - give or take a few minor pauses since things started to turn upwards in mid-2012 - so those opportunistic speculative offerings by savvy operators have virtually been exhausted.
Sure there's always the demographic offerings - arising from births, deaths, marriages and divorce. But the common cry from many a prospective seller has been "where could I buy." And so they hold off their listing because they can't see the answer.
Last month at Pennant Hills, in Sydney's north-west, a four-bedroom family home sold for $1,824,000 at auction, at $174,000 above the highest offer made before the auction. 
The four-year-old house only went on sale because of a marriage breakdown.
It was strongly contested - with 10 registered bidders - in an area starved of stock, Ray White agent James Andrews said. 
There are 2555 homes in Pennant Hills and not one per cent is on the market, he noted.
"Stock levels are low. It's a very, very desirable area."
There are just five September auctions in Pennant Hills advertised on realestate.com.au, with Andrews having two of these offerings next weekend. There are another six houses listed by private treaty.
Housing market conditions are very different from region to region, capital city to capital city, but the unexpected re-emergence of strong price growth in Sydney has caught most forecasters - and presumably the RBA and APRA - off-guard. 
Tim Lawless who heads research at CoreLogic says listings matter.
"The number of properties being advertised for sale provides a vital clue about the direction of housing prices.
"Those cities where advertised stock levels remain short are continuing to see upwards price pressures, while cities with historically high stock levels are seeing downwards pressure."
CoreLogic is currently tracking just over 19,000 listings across the metro region of Sydney.
"As a comparison point, when the Sydney market was moving through a down phase between late 2010 and mid-2012, CoreLogic was tracking just over 40,000 properties on the market," Lawless advised.
"The fact that Sydney listing numbers remains so low is one of the factors providing the upwards pressure on housing prices.
"Buyers simply don’t have a lot of stock to choose from, which creates urgency in the market and provides leverage to vendors when setting and negotiating their prices," Lawless noted.
Being spring we are likely to see an upwards trend of newly advertised properties enter the market.
But will it be enough to tame the market’s strength?
This article was first published in the Saturday Daily Telegraph.
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Sydney spring price prospects to be shaped by stock influx

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The number of homes taken to auction this week fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago. 
The preliminary clearance rate was higher than the previous week’s result of 74.5 per cent and up from last year, when the clearance rate was recorded at 73.2 per cent. 
Preliminary results this week are the highest recorded this year.  The results show that Melbourne and Sydney recorded the highest clearance rates of (79.3 per cent) and (83.9 per cent) respectively, however both cities were host to fewer auctions this week when compared to last week.
<a href="/images/2016/09/06/20160905-Capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/20160905-Capital-city.png" alt="">
Across Melbourne, this week’s preliminary clearance was 79.3 per cent, up from last week’s result of 77.4 per cent.  This week’s preliminary clearance rate is the highest preliminary rate Melbourne has recorded this year. 
It also marks the ninth week in a row that Melbourne’s clearance rate has been recorded above 70 per cent.  The preliminary clearance rate is higher than 75.1 per cent one year ago. 
There were 826 auctions held in Melbourne this week, a drop from last week’s 1,060 auctions and lower than the 992 auctions held at the same time last year. 
Of the 9 individual sub-regions in Melbourne, this week’s strongest performer in terms of clearance rate was the Mornington Peninsula sub-region, where 93.3 per cent of the 30 reported results were successful.
<a href="/images/2016/09/06/20160905-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/20160905-Melbourne.png" alt="">
In Sydney, a preliminary clearance rate of 83.9 per cent was recorded across 715 auctions this week. Last week, Sydney’s final clearance rate was lower at 78.5 per cent across 788 auctions.  Since the final week in April this year, Sydney has consistently recorded weekly clearance rates above the 70 per cent mark.
One year ago, auction activity across Sydney was significantly higher, with 1,023 auctions held and 76.9 per cent clearing. North Sydney and Hornsby was the busiest sub-region of Sydney this week for auctions with 121 homes taken under the hammer. 
Based on preliminary results the region recorded a clearance rate of 82.0 per cent. Ryde (95.2 per cent) and Northern Beaches (91.5 per cent) recorded the highest preliminary clearance rates of the sub-regions.
Click to enlarge
<img src="/images/2016/09/06/20160905-Sydney.png" alt="">
There were 135 Brisbane homes taken to auction this week, with 77 results reported so far.  Brisbane also recorded their highest preliminary clearance rate for the city this year (58.4 per cent), up from 44.3 per cent last weeks and higher than one year ago, when 42.9 per cent of the 130 properties taken to auction were successful.  Across the GoldCoast 35 results have been reported so far, with a success rate of 40.0 per cent.
<a href="/images/2016/09/06/20160905-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/20160905-Brisbane.png" alt="">
This week, Adelaide saw a preliminary clearance rate of 80.7, across 57 reported auctions; the highest Adelaide has recorded for the year.  In comparison, over the previous week Adelaide’s clearance rate was 63.3 per cent and 69.5 at the same time last year.
<a href="/images/2016/09/06/20160905-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/20160905-Adelaide.png" alt="">
In Perth, auction numbers fell to 26 this week with a preliminary clearance rate of 16.7 per cent.  So far 6 auctions have been reported.  Last week, the final clearance rate for Perth was 34.8 per cent across 29 auctions.
Canberra’s preliminary rate was 77.8 per cent this week, compared to 71.4 per cent last week and 71.7 per cent one year ago.  This week’s 77.8 per cent is the highest preliminary clearance rate Canberra has seen since the second week in March this year.  CoreLogic has captured 76 results, rising from 56 last week.
7 auctions took place in Tasmania this week, five results have been reported so far, however none of these reported results were successful.
 
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smiller-vwPjRHTkST

Spring sees preliminary capital city clearance rate reach a new year to date high 

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<img src="https://counter.theconversation.edu.au/content/63394/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
New research on the business models of Fairfax and APN from 2004 to 2013 confirms the two companies have failed to transform their revenue structures from print to digital.
However, Fairfax CEO Greg Hywood argues that the company’s 2016 full year result is “proof that the [digital] transformation of Fairfax Media over recent years has succeeded".
Recently, American billionaire Warren Buffet said that for most American newspapers “the transition to the internet so far hasn’t worked in digital. The revenues don’t come in”. He added that “local newspapers continue to decline at a very significant rate”.
Despite the gloomy outlook, News Corporation is expanding its regional newspaper portfolio in Australia. The company is buying APN’s regional papers including 12 daily newspapers and 60 smaller publications.
In New Zealand, Fairfax Media and New Zealand Media Entertainment (NZME) are currently seeking merger approval from Commerce Commission. If the merger is cleared, the new company will have 89 percent market share in New Zealand’s print newspaper market. Fairfax is expected to own 51 percent of the merged company’s shares (currently, News Corp owns 14.99 percent of NZME shares).
Why the sudden interest in the sinking ship, print? Is it because the assets are cheap? In 2016 Fairfax made a heavy loss as it wrote down almost a billion dollars of its publishing assets.A closer look at News Corp’s and Fairfax’s revenue structures may shed some light on this interest in print.
In 2016, Fairfax’s Metro Media, Australian community media, and New Zealand media contributed 75% of the company’s total revenue. Domain Group delivered 16% of its total revenue.
This simply shows that the company’s revenue, if not profit, is still reliant on the traditional revenue streams. Similarly, in the 2016 financial year, 64% of News Corp’s revenue came from news and information services and 9.9% from digital real estate services.
<h2>Digital revenue covers a fraction of expenses</h2>
Both Fairfax and News Corp argue they are turning into truly digital media companies, and clearly, something is changing. Both companies seem confident that their digital future lies in real estate and listing services. Commenting on the 2016 results, News Corp chief executive Robert Thomson said:
“Since the advent of the new News three years ago, revenue at Digital Real Estate Services has more than doubled, and it is expected to become the biggest contributor to [earnings] in the future.”
Similarly, Fairfax’s chief executive Greg Hywood says digital and non-print earnings now make up more than 40 percent of Fairfax’s earnings before interest, taxes, depreciation and amortisation (EBITDA). If this trend continues, he says, next year it will be closer to 60 percent.
Both companies make a decent profit on their digital real estate services (and the share of profit is growing), but Fairfax’s digital revenue currently covers only 14 percent of the companies' total expenses. So the company’s bright digital future clearly requires more cost cutting.
Recent research  shows that both Fairfax and News Corp have some work to do before they are “truly digital”, meaning the majority of their revenue comes from digital sources. For example, in 2015 digital revenue made 62 percent of media groups Norwegian Schibsted’s and German Axel Springer’s total revenue. For Fairfax, the same number was 16.4 percent and for News Corp 8 percent.
According to Fairfax, in 2016 its paid digital subscriptions grew 17 percent to 209,000. The revenue from these was $38 million, representing two percent of the company’s total revenue. News Corp’s digital subscriptions continue to grow and “account for approximately 45 percent of the subscriber base".
<a href="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%208.32.07%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%208.32.07%20AM.png" alt="">
The company states that “digital revenues represented 23 percent of news and information segment revenue". Based on this percentage, the digital revenue delivered by its news and information services made 1.2 percent of the company’s total revenue.
<h2>Convergences across telcos and media</h2>
A short-term outlook for the traditional television broadcasters in Australia and New Zealand is weak. For example, in August Seven West Media gave a profit warning and is expecting its profit to fall 15-20 percent in the coming year due to the flat advertising market. Its 2016 pre-tax profit was $207 million of which Channel Seven contributed 82 percent.
Clearly, digital transformation is proving challenging for television broadcasters as well as newspapers, and more consolidation can be expected across the sector. This will also occur across the media, telecom and internet service providers. In April, it was rumoured that APN and Nine Entertainment were considering a mega merger, but this is yet to materialise.
In New Zealand, the pay television provider Sky TV is seeking merger approval with Vodafone NZ. Sky TV says the merger is necessary because, “the change in how video content is delivered to consumers is transforming traditional television and content markets”. The company is facing increasing competition from companies such as Netflix, Quickflix and Apple TV.
Interestingly, Fairfax Media is also branching out in New Zealand by launching a new internet service provider – Stuff Fibre. The new service will offer uncapped ultra-fast broadband, unlimited data, and no fixed term contracts.
Fairfax is clearly seeking to expand and to control its online content and video delivery. In New Zealand, the company already has an agreement with Radio New Zealand and TVNZ for content delivery.
Yes, media companies are transforming, and they have to, as the financial results demonstrate. On Friday, APN announced that it is now an “outdoors media and radio” company, as opposed to a news publisher or news corporation. Fairfax and News Corp are starting to look more like digital real estate providers. This strategy makes business sense, but one has to wonder if there is still room for journalism within it.
Merja Myllylahti is project manager and author for Journalism, Media and Democracy (JMAD) Research Center, Auckland University of Technology and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/merja-myllylahti-106912" target="_blank">here</a>.
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News publishers are transforming, but into what?

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<div>In Britain the topical political and media talk is of whether an "Australian-style" points based immigration system should be introduced, without any real clarity about what that would mean in practice.</div>
<div> </div>
<div>Back Down Under it's often said that Australia's population growth must slow if the economy isn't creating enough jobs. This is essentially true for 457 visas, but does overlook the potential underlying demand for other visa classes.</div>
<div> </div>
<div>I previously looked at the newly relaxed international student visa rules which were made effective from 1 July, easing the rules for parents and guardians of primary school age students in Australia. The recent election campaign also led to some potentially interesting shifts via proposed policies for...</div>
<div> </div>
<div>Parent visa rules</div>
In 2016, the percentage of Australians born overseas hit its highest level in 120 years at a massive 28 per cent. 
<div>
Immigration policies understandably prefer immigrants to be of the young, working (or creating jobs through business), and tax-paying demographic. Thus over the 2015/16 Migration Programme year, parent visa places were capped as follows:
</div>
<ul>
<li>1,500 places allocated to Parent (non-contributory) visas </li>
<li>
7,175 places allocated to Contributory Parent visas </li>
</ul>
<div>This means that your best chance of getting a parent visa in the last financial year was likely <a href="https://www.border.gov.au/Trav/Visa/Fees" target="_blank">to pay</a> the prohibitive A$47,000 for a contributory visa - about A$100,000 for a couple! - while successful sponsorship for standard parent visas was extremely hard to come by. </div>
<div> </div>
<div>The unattractive alternative for parents wanting to join their families in Australia was to come in on a one year visitor visa, then leave the country for six months on each occasion. It would be a sore test of anyone's resolve to repeat this process over any meaningful period of time! </div>
<div> </div>
<div>
With some 6.8 million Australians having been born overseas the potential demand for parent visas is massive and growing, particularly from China and India.  I wouldn't believe anything a politician told me these days, but Google trends activity shows that there has been an explosion of interest in parent visas since the last full Census in 2011.
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<a href="/images/2016/09/06/PArents.jpg" target="_blank">Click to enlarge</a> <div class="separator">
<img src="/images/2016/09/06/PArents.jpg" alt=""> </div>
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It's worth noting that previous rules weren't favourable to Chinese families, due to China's one child policy meaning that most parents naturally had only one child in Australia, which was an obvious mathematical hindrance in proving that the balance of your family lived here.  As at 30 June 2016 due to the caps there were 38,770 persons in the queue for standard parent visas (up 59 percent from last year), and another 5,160 persons for aged parent visas (up 28 percent). 
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<div><a href="/images/2016/09/06/Parent.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/09/06/Parent.jpg" alt=""></div>
 
<div>With standard parent visas presently capped at 1,500 per year, a queue of this size at 30 June equated to a ridiculous 25.8 year average wait time for an application to be processed. </div>
<div> </div>
<div>Election pledges</div>
<div> </div>
<div>During a keenly contested election campaign the Australian Labor Party (ALP) announced plans to extend visitor visas to parents out to a far more palatable three years - with parents only being required to leave the country for four weeks at the end of each visa term and paying a $5,000 bond to ensure cover for medical and social services. Surely a potential vote-winner for the ALP in the rapidly growing migrant communities, particularly in an era where so many young families also strive to be dual-income households. </div>
<div> </div>
<div>As tends to be the way of these things, the Coalition's knee-jerk response was to announce a new parent visa plan itself, especially aimed at Chinese and Indian visitors (provided that new arrivals pay for health insurance and don't rely on the welfare state for health care, shamelessly piggybacking from the ALP proposals!) and allowing for continuous five year visitor visas. </div>
<div> </div>
<div>Given that the number of overseas born Aussies is soon to pass 7 million, such a policy could potentially lead to hundreds of thousands of applicants for visitor visas from parents sponsored by Australian citizens, largely from ageing, non-English speakers hailing from Asia (which is not really the ideal target demographic for policy makers). For this reason the Coalition's proposed policy denotes that parents of Australian citizens and permanent residents who have lodged a permanent parental visa application "may" be issued a five year visa "on a case-by-case basis". </div>
<div> </div>
<div>In other words, this is an 'out'. Minister Dutton has the discretion to limit the number of visas issued and retains the right for policy to change course henceforth. </div>
<div> </div>
<div>The wrap</div>
<div> </div>
<div>At this juncture there appears to be very little clarity surrounding what will happen with respect to parent visas.</div>
<div> </div>
<div>The Coalition probably doesn't know the answer itself, election pledges doubtless being dreamed up on the hoof in response to the ALP's evidently popular proposal. </div>
<div> </div>
<div>A point here relevant to the property markets is that if Australia does end up with an oversupply of thousands of apartments as many have forecast, there are levers that can be pulled to loosen immigration policies.</div>
<div> </div>
<div>After all, a sceptic would say that if there's a policy that's always guaranteed to garner support from governing parties of either persuasion, it's one aimed at propping up ailing capital city housing markets. </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Immigration levers and the apartment oversupply scenario: Pete Wargent

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The Australian Prudential Regulation Authority (APRA) released its June 2016 quarter property exposures data earlier this week. 
The data looks at exposure to the property market by Australian Authorised Deposit-taking Institutions (ADI).  It’s valuable because it provides deeper insight into lending from mortgage lenders which isn’t available from the Australian Bureau of Statistics (ABS) monthly housing finance data.
<a href="/images/2016/09/05/Chart-1-3-580x206.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/Chart-1-3-580x206.jpg" alt="">
At the end of the June 2016 quarter, across all Australian ADI’s, there was $1.437 billion in outstanding residential mortgages to households. 
The value of outstanding mortgages has increased by 8.1 percent year-on-year, which is the slowest year-on-year growth rate since the June 2014 quarter. 
Outstanding mortgages include $930.4 billion outstanding to owner occupiers and $506.3 billion outstanding to investors. 
The value of owner occupier mortgages has increased by 14.8 percent year-on-year, its largest rise since March 2010. 
The value of investor mortgages outstanding has fallen by -2.4 percent year-on-year, its greatest decline on record. 
To put the investor lending slowdown into perspective, 12 months ago investor mortgage credit had increased by 12.7 percent.
<a href="/images/2016/09/05/Chart-2-3-580x204.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/Chart-2-3-580x204.jpg" alt="">
Taking a look at potentially higher risk forms of lending, in June 2016 there was $557.0 billion in outstanding mortgage credit for interest-only mortgages, $2.753 billion for reverse mortgages, $24.7 billion for low-documentation mortgages and $1.0 billion in other non-standard mortgages. 
Almost two-fifths of the value of outstanding mortgages (39.3 percent) is for interest-only mortgages. 
Year-on-year there have been increases in the value of mortgage credit for interest-only (+7.7 percent) and reverse mortgages (+1.8 percent) while credit for low-documentation (-16.2 percent) and other non-standard loans (-8.5 percent) has fallen.
<a href="/images/2016/09/05/Chart-3-3-580x203.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/Chart-3-3-580x203.jpg" alt="">
The average outstanding mortgage balance was $252,100 which was 4.5 percent higher over the year to June 2016. 
Across the different mortgage types the average outstanding balances were recorded at: $308,000 for loans with an offset, $335,200 for interest-only loans, $97,400 for reverse mortgages, $191,000 for low-documentation loans and $191,900 for other non-standard loans.    
The average balances have increased over the year for loans with an offset (+4.4 percent), interest-only mortgages (+4.6 percent) and reverse mortgages (+2.7 percent) and fallen for low-documentation loans (-1.2 percent) and other non-standard loans (-2.2 percent).
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<img src="/images/2016/09/05/Chart-4-1-580x210.jpg" alt="">
Looking at new lending over the June 2016 quarter, there was $98.4 billion in new mortgage lending, $64.4 billion of which was for owner occupiers and $34.0 billion for investors.  It was a record quarter with the value of lending 20.7 percent higher over the quarter and 2.1 percent higher year-on-year. 
Over the quarter the value of lending to owner occupiers rose by 15.2 percent while investor lending jumped 32.5% to its highest level since June 2015. 
Year-on-year owner occupier lending is 16.2 percent higher while investor lending is -16.9 percent lower. While investment lending has certainly increased of late, it is difficult to know exactly how much is being driven by more volume and how much is being driven by borrowers taking out larger mortgages.
No data was available this quarter on new low-documentation lending however, there was $35.6 billion in interest-only lending, $136 million in other non-standard loans, $47.4 billion in loans from a third part source $3.5 billion worth of loans approved outside of serviceability. Although new interest-only lending is -19.1 percent lower year-on-year, it increased by 25.1% over the quarter which is in line with the significant jump in new lending to investors. 
It was also the largest quarter since June 2015 for other non-standard loans. The $3.5 billion of loans approved outside of serviceability was the lowest since the March 2015 quarter.
<a href="/images/2016/09/05/Chart-5-1-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/Chart-5-1-580x210.jpg" alt="">
Looking at the loan-to-value ratios (LVR) on new mortgages over the quarter it is clear that lenders and or borrowers are becoming more conservative and using larger deposits.  Over the quarter, a record-high 78.0 percent of mortgages had an LVR of less than 80% (meaning the borrower had a deposit of at least 20 percent). 
Over the quarter the value of lending increased across each of the LVR bands shown however, year-on-year the value of lending for LVRs of less than 60 percent is up 19.2 percent, for LVRs between 60 percent and 80 percent it is -1.1 percent lower, for LVRs between 80 percent and 90 percent it is 6.1 percent higher and for LVRs above 90 percent it is -20.7 percent lower.  Encouragingly, just 8.3 percent of all new mortgages had an LVR of more than 90 percent which is a record-low.
Overall the data shows that there has been a rebound in new lending to investors and a commensurate increase in interest-only lending over the past quarter.  After annual investor housing credit growth has slumped to well below APRA’s 10%pa speed limit it is clear that some lenders have scope to dial-up their lending to investors.  It also shows that despite historically weak rental markets and record low rental yields that there remains demand from the investment segment of the market.
While investment lending has lifted over the past quarter, the data is showing there is a more conservative approach to high LVR lending. The ongoing declines in lending with an LVR above 90 percent is encouraging because it should lead to reduced risk.
Over the coming quarters we’ll be closely watching how much higher investment lending lifts.
Keep in mind that despite record low yields, the returns are still superior to putting money in a term deposit, especially once you factor in the recent capital growth as well. Interest-only lending trends will also be important to watch with APRA already having raised concerns about that particular type of lending.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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New lending to investors and interest-only lending jumps over June quarter

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GUEST OBSERVER
Non-bank lending has become a phenomenon in the Australian property market. Although official statistics are hard to come by, anecdotal evidence suggests that private groups are lending Aussie companies and individuals billions of dollars each week.  
What created this amazing trend in private lending, what does the non-bank lending landscape look like and where will the market go next?  Delving into these questions will give you a good idea about the state of the Australian real estate market today.
How Did It All Start?
Non-bank lending has been going on in Australia for many years. Companies like Pepper and Resimac have taken over a huge chunk of the home mortgage market and Aussie Home Loans’ CEO John Symonds has for years been assuring Australians that “At Aussie, we’ll save you.”
In the commercial lending space, Development Finance Partners, MaxCap, Qualitas and Balmain Group have been underwriting property developments for a long time.
Things accelerated sharply, however, in July 2015 when the Australian Prudential Regulation Authority (APRA), aided by BIS Shrapnel and egged on by the RBA, significantly increased the capital requirements for Australian banks.
This, along with the Labor Party’s aggressive stance on negative gearing, and a scandal involving falsified loan documents at ANZ and Westpac, has resulted in a significant slowdown in property lending by Australia’s Big 4 banks:
<a href="/images/2016/09/05/big-4-lending-book.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/big-4-lending-book.png" alt="">
Had the Big 4 continued to grow their investment housing lending book at the same average rate as they did the 12 months ended June 30, 2015, they would have lent an additional $68.4 billion into the market.
At the same time, the Big 4 have also begun to pull back on corporate lending, and while this trend is still emerging, it has added to the challenges faced by property buyers:
<a href="/images/2016/09/05/big-4-lending-book.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/05/big-4-lending-book.png" alt="">
Faced with dramatically tougher lending requirements, Australian property developers, investors and buyers have been scrambling to fill this $68 billion gap.
Old Problems
The lending drought has given new urgency to the age-old financing problems faced by every property developer.  Land banking, the first step in most property developments projects, has mostly been subjected to lower loan value ratios (LVRs), shorter loan terms and higher interest rates.  Development and mezzanine funding have also seen a toughening of terms, as well as the imposition of higher requirements for presales and decreased limits on the portion of offshore sales allowed.
Perhaps the problem that’s proven most urgent, dangerous and difficult to solve has been settlement pipeline financing.  Although final settlements often only account for 20% of the total sales price, many borrowers, especially foreign investors, have found it impossible to obtain financing of any kind for this portion of the acquisition.
This has created a great deal of nervousness around settlement pipelines, and the possibility that large numbers of buyers would fail to settle their purchases.
While this has not happened and, in fact, groups like Lendlease have announced higher than anticipated, settlement risk remains a concern in many corners.
New Solutions
The challenges of property developers and investors have attracted the attention of private lenders looking to charge premium rates and fill the gap left by the banks. In addition to established players like Wingate, Balmain and a host of existing property funds, three new groups have stepped into the market.
The first of these new entrants are cashed-up Australian property developers. These players are usually large property companies that are flush from the recent completion of a project.
They tend to be highly localized, only lending into a particular type of development (e.g. only high-rise apartments) and only in one geographic area (e.g. Melbourne CBD).  These lenders are often looking for ways to get into the projects they’re funding, with an eye to taking over the development if the borrower is unable to repay the loan.
A more opportunistic group includes purpose-created special investment vehicles, family offices and high-net worth investors. This group is attracted to the high interest rates and strong security positions on offer. These players are more transactional, less strategic and much less established than cashed up developers.
The final group consists of foreign banks, investment funds and high-net worth investors, particularly from the US, China, Singapore and Malaysia. These entities are often connected to property investors from their home country, who have some knowledge of the Australian market and who see an opportunity to further their investment goals by jumping in where the large Australian banks have moved out.
Taken together, these new sources of non-bank lending are beginning to make a substantial impact on Australia’s property lending deficit.
David Chin is managing director, Basis Point, and can be contacted <a href="https://basispoint.com.au/" target="_blank">here</a>.
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The surprising rise of non-bank lending in the Australian property market

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GUEST OBSERVER
The life of Defence Force personnel is volatile to say the least. Serving members can suddenly find themselves sent off to the furthest reaches of the globe with little notice.
Or they can be shifting bases around Australia, New Zealand or the Pacific. Of course, they could also be sent into battle in the depths of a war zone. 
This is why the men and women of our Defence Force are so highly, and deservedly, renumerated - from subsidised costs in housing and education to transport and health. But it’s a little known secret that they’re in the box seat to get terrific benefits from property investment. Like many professionals, Defence Force personnel are time poor and probably don’t even think of themselves as potential investors.
In fact, Defence Force personnel have a head start over most investors due to the housing support and rental subsidy issued to them by Defence Housing. This means that their outgoing expenses are far lower than most Australians. It immediately gives them extra cash that can be used to fund investment. 
There are many good reasons why property investment especially suits members of the Defence Force. Let’s run through a few of them:
Secure with Long Term Growth
Australian property investment is deeply entrenched in the long-term.  For Defence Force members it’s perfect, as it requires very little management once it’s set up. Consider other investment options like shares, which are always going to be volatile. These options require the owner to be constantly agile and flexible and most of all, highly attentive and responsive to the market. Yes, you can have a personal stockbroker managing them for you, but this person will still be contacting you frequently for your sign off. It’s also been clearly demonstrated that property is a far more profitable and safe investment than stocks and shares in the very long term. 
Defence personnel make the perfect investors, yet most are unaware of their own massive potential.
Property is far less responsive and reactive than shares. A financial melt down in the US, for instance, is unlikely to affect the capital growth of a house in Wollongong. The property market in Australia has always been and will continue to offer stability. Australia will always be a desirable place to live and that is a certainty that cannot be said about other kinds of investment markets.
Once the investor has chosen an affordable property in an area of demonstrated capital growth, this means they have very little to stress about. As long as they have a good property manager in place, the property will ideally pay for itself as well as accumulating years of strong capital growth.
This suits the life of a Defence Force member, especially when they are deeply immersed in their work and their busy lifestyle that doesn’t allow them time to focus on investments. If you’re suddenly about to fly into the Middle East the last thing you want to worry about is selling your stock options. Fortunately, well-researched property investment means that you won’t have to. 
SAM KHALIL is founder and director of <a href="https://www.dpn.com.au/" target="_blank">DPN</a>. 
 
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How to crack the property market as a Defence Force professional

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A tenanted office space in Sydney’s Potts Point has traded hands for $710,000.
The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-kings+cross-502029946" target="_blank">8/2-14 Kings Cross Road, Kings Cross</a> is part of a building that was was refurbished and strata titled in 2004 into a hotel and four levels of commercial offices. 
The floor area is 82 sqm and the office offers panoramic city views. 
It is on the fringes of Potts Point, close to Kings Cross Rail Station. This is a Bohemian suburb frequented by creative businesses whilst only a train stop to the Sydney CBD.  
The property could be converted into residential accommodation subject to council approval. 
It is being sold as a leased investment with a three-year lease till 2017 with a three-year option to a marketing company.
The net rental is $43,529.
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