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.

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<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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GUEST OBSERVER
Over 90 new strata laws will come into play later this year and of the 90 these are some changes that will most likely make a difference to your everyday.
1. Parking 
Owners corporations will be able to reach agreements with local councils to allow parking officers into their schemes to issue fines to rogue parkers. 
Not only rogue parkers but residents who park over the lines of their parking spaces on to common property or leave their cars in visitor parking (however briefly) could also be ticketed. 
2. Fines
Almost all fines will be paid to the owners corporation, but this won’t be a cash cow for over-zealous committees; they still have to go through the same tribunal process. 
3. Short term rental
Owners corporations can now set limits on the number of people allowed to live in an apartment provided the upper limit is no less than two adults for each bedroom. Failure to abide by this law could result in fines from $11,000 to 22,000.  
4. Smoke 
Simply, an owners corporation can make a strata by-law banning smoking throughout an entire strata building. Orders can also be made against residents who smoke or allow their cigarette or barbeque smoke to drift into other units and landlords can be held liable to their tenants for second hand smoke exposure. 
5. Pets 
The new strata by-laws will not remove a scheme’s ability to make its own rules about pets. However, if the new model by-law is adopted, the request to keep a pet cannot be unreasonably refused. If the owners believe approval was unreasonably withheld, they can apply to the Tribunal. 
6. Renovations
New rules mean hanging pictures; coat hooks and filling cracks can go ahead while “minor alterations” – such as kitchen or bathroom renovations, installing timber or tile floors and replacing wiring or power points no longer need a special resolution by-law. But be aware there are other laws that allow owners corporations to charge owners for any damage caused to common property.  
7. Levies 
Owners corporations will be able to get compensation if a developer promised unrealistic low levies at time of sale. By the time the owners have to pay the actual bills for services, the developer is out of the picture. Now owners can pursue them for compensation through the tribunal (NCAT). 
8. Strata contracts
Strata manager contracts will be limited to one year in the first year of a building’s life and three years thereafter. The one-year initial contract gives strata manager’s ample time to prove themselves to the committee … or otherwise. The subsequent three-year contracts allow owners corps to change strata managers more easily if the relationship isn’t working out.  
9. Votes 
The biggest technological changes in our lives have been in communication. Voting electronically, via Skype calls, by email and even good old-fashioned snail mail will be introduced. 
10. Tenants
Tenants now have a right under the new laws and will be able to attend owners corporation meetings, no matter how many of the lots are tenanted in their scheme. They may vote if they hold a proxy (giving them voting rights on a lot owner’s behalf). 
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Adrian Mueller, is senior lawyer at J.S Mueller &amp; Co and can be contacted <a href="https://muellers.com.au" target="_blank">here</a>. 
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jchancellor-FAypfDUnLy

Property 101: Top 10 NSW strata law changes in November 2016

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Following the success of its 36-storey Sky One tower in Melbourne’s Box Hill, the Golden Age Development Group now has plans to work on another nearby project.
The 7,344 sqm site at 517-521 Station Street, Box Hill (pic above) will have a mix of commercial and retail spaces, residential accommodation and a 104-place child care facility, according to the developer’s website.
The carpark was recently bought by Golden Age for $51.8 million from Whitehorse Council.
The new project, named Sky Two, is expected to be well received like its sister project Sky One.
“Buyers of Sky One will benefit significantly from the new development as it bolsters the notion of the suburb being a city in itself, with a range of business, lifestyle and cultural amenities only minutes away,” says the developer.
Sky One, at 545 Station Street, sold some 85 percent apartments at its launch in April, which was followed by $80 million worth of apartments in May.
On completion, Sky One will be one of the tallest buildings in suburban Melbourne.
Golden Age, which was founded in 2007 by Jeff Xu, has a project pipeline worth $2 billion across Melbourne &amp; Sydney.
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jonathanchancellor-7SQnKwU6yx

After 36-storey Sky One success, Golden Age set for sister project in Melbourne's Box Hill

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Australian contractor Brookfield Multiplex is dropping Brookfield from its name and rebranding to Multiplex while still remaining a Brookfield company. 
Multiplex is owned by Brookfield Business Partners, the flagship listed entity of Canadian private equity firm Brookfield Asset Management.
The construction company was bought by Brookfield Asset Management for more than $4 billion in 2007.
John Flecker, chief executive officer of Multiplex Australasia, said, “This is a time for us to rebrand and to ensure our own unique construction identity both within the Brookfield group and with our external stakeholders as a global construction business.” 
“Aside from our name and logo changing, it’s business as usual. There are no operational or organisational changes being made.” 
Multiplex was established in 1962, and its projects are worth US$66.2 billion, according to a press release.
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Brookfield Multiplex rebrands to Multiplex, no change in ownership

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GUEST OBSERVERS
More than 25,000 delegates will meet in Quito, Ecuador, in October to set out the United Nations' New Urban Agenda for member states.
The Habitat III conference will mandate the UN’s work in cities and settlements for the next 20 years. But Australia, one of the world’s most urbanised nations, is yet to play a major role in negotiations.
If you haven’t heard of the Habitat conference series, you’re not alone. Steered by one of the UN’s smaller organisations – UN-Habitat – it is the key negotiation process within the UN for planning the development of cities and human settlements.
Unlike the annual “Conference of the Parties” held by the United Nations Framework Convention on Climate Change, these events take place only once every 20 years. The Habitat conference has been held twice previously: in Istanbul in 1996, and in Vancouver in 1976.
Since then, humanity has crossed an urbanisation milestone. Half the world’s population now lives in cities. At the time of Habitat I, just over one-third were urban dwellers. Habitat III and the New Urban Agenda therefore represents a watershed moment for urban development globally.
<h2>Setting the New Urban Agenda</h2>
The 1996 Habitat Agenda called for sustainable development and access to adequate shelter. These goals have driven progress in many places. For instance, provision of adequate housing is now included in many national constitutions.
The Habitat Agenda also formed a platform for the Millennium Development Goals (MDGs), agreed in 2000. The MDGs expired in 2015 and were superseded by the Sustainable Development Goals (SDGs). These goals lie at the centre of the UN’s 2030 Agenda for Sustainable Development.
Habitat III, unlike Habitat II, builds out of these targets, not the other way around. The New Urban Agenda is therefore aiming to implement these goals in cities, particularly SDG 11: to “make cities and human settlements inclusive, safe, resilient and sustainable”. 
The current version of the agenda, the “zero draft”, was released at the end of July 2016, having undergone a series of revisions at preparatory negotiations. Unusually for the UN, this included direct feedback from civil society and other stakeholders, following public release of the draft.
The draft New Urban Agenda recognises that decisions about how we house, feed and mobilise urban populations will have a critical impact on human wellbeing and sustainability. Key focus areas include guiding national urban policies and systems of urban governance. The draft also has a strong emphasis on citizen participation and democratic processes.
What sets the agenda apart from its predecessors is the elevation of pressing global issues, such as urban informality, gender equity and disaster and climate resilience. It also recognises cities as drivers of economic and social development.
It is estimated that 70% of global economic activity is in cities. Cities also account for more than 70% of greenhouse gas emissions. The agenda will therefore be critical in achieving the COP21 targets agreed in Paris last year.
The current draft is not without controversy. Inclusion of the “Right to the City” has already stalled talks. And the future role of UN-Habitat is being hotly contested.
In its current form, the agenda redefines informal settlements and sectors as assets with the capacity to promote economic growth. It also recognises the right to equal access to jobs, urban infrastructure and affordable housing, emphasising design, participation and empowerment in meeting the challenges of informal settlements.
The key challenge for the New Urban Agenda will be distributing implementation to the thousands of cities that need development assistance across the world. Crucially, it is unclear who will monitor and evaluate progress, and how.
<h2>Australia missing in action</h2>
Unlike the Paris Agreement, the New Urban Agenda is not intended to be a legally binding document. Instead, it aims to provide guidance to member states and UN agencies. However, several nations are yet to engage with the Habitat III process, either through preparatory meetings or by submitting country-level urban reports.
The Australian government has so far been absent from the Habitat III process. In regional thematic meetings the Australian chair has remained empty, despite our heavily urbanised population, regional investment in urban development, and urban policy expertise.
The agenda represents a key opportunity to reflect on Australia’s role in engaging with pressing urban development questions at home and abroad.
Establishment of Australia’s first minister for cities by the Turnbull government in 2015 was seen as a strong platform for redefining an Australian national urban policy. However, the portfolio was short-lived, being downgraded to an assistant ministry six months later.
Australian cities face many challenges associated with sustainability and population growth. These include housing affordability and deficits in provision of essential infrastructure and services.
Stronger federal government leadership on national and international urban policy could promote economic prosperity and the sustainability of urban settlements at home. It could also improve Australia’s ability to engage with our Asia-Pacific neighbours on shared urban challenges, such as urban migration, the health and social impacts of climate change, and managing environmental resources for current and future generations.
More than 30 representatives of Australian non-governmental organisations, municipalities, peak bodies and universities are registered to attend Habitat III. However, it is not yet clear whether the government will be participating in the Quito negotiations.
Despite its challenges, the New Urban Agenda is persuasive. It will inspire urban actors to champion its cause and drive its implementation. It will undoubtedly be used to frame funding policies of important bodies like the UN Development Program, the World Bank and Asian Development Bank.
Fulfilling our UN member state role in Habitat III is an opportunity not to be missed. Through Quito, we can reinvigorate our national urban policy, build our regional profile and leverage and export our urban expertise. But, more importantly, by taking our seat at the table we will be playing our part in the transition of humanity into a sustainable, urbanised world.
Hayley Henderson is PhD Candidate in Urban Planning, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/hayley-henderson-288490" target="_blank">here</a>.
Alexei Trundle is PhD Candidate, Australian-German Climate &amp; Energy College, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/alexei-trundle-11956" target="_blank">here</a>
André Stephan is postdoctoral research fellow, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/andre-stephan-14991" target="_blank">here</a>.
Hesam Kamalipour is PhD candidate and research assistant in Urban Design, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/hesam-kamalipour-288498" target="_blank">here</a>.
Melanie Lowe is research fellow, McCaughey VicHealth Community Wellbeing Unit, Melbourne School of Population and Global Health, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/melanie-lowe-288493" target="_blank">here</a>.
All are authors for The Conversation.
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Habitat III: the biggest conference you’ve probably never heard of

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GUEST OBSERVER
Last week saw a slew of economic data released in the US, Australia, and China.
Perhaps the most carefully watched was the US employment report, showing that the US economy added 151,000 jobs last month, leaving the unemployment rate unchanged at 4.9 percent.
This was a solid, not stellar result. But interestingly, the August report is notorious for being revised upward in later months. So the final number could come in higher if recent history is a guide.
The reason the jobs number was so closely watched was because many people – including yours truly – thought that another 250,000-ish gain would lead the Fed to a 25 basis point rate hike at their next meeting. That move by the Fed is still definitely possible, but the news lowered the odds a bit.
In another positive signal about the US economic recovery, the Conference Board’s consumer-confidence index rose to 101.1 in August, up from 96.7 in July.
Also positive was the Australian business investment plans for 2016-17. It beat expectations at $105 billion, although still down nearly 10% on the prior year.
ABS figures revealed a sharp jump in apartment approvals, with the July figure coming in at 11,393 – more than 15% higher than the previous year. This helped offset the 3% year-on-year decline in housing approvals. Still, apartment approvals in particular are lumpy, so it’s dangerous to read too much in to one month’s number.
On the less positive side, Australian retail trade figures were flat in July, putting the year-on-year increase at a modest 2.7%. This is on the back of just a 0.1% rise in June.
There was good news out of China, with the manufacturing Purchasing Managers' Index (PMI) up to 50.4, the best result since October 2014, and up from 50.0 the months before, also beating market expectations.
All in all this was a fairly positive week for global economies (especially if you forget about the basket case which is Europe).
There will be a good deal of central-bank watching over coming weeks, though. Philip Lowe takes over as governor of the RBA, and Guy Debelle was announced as his deputy – an excellent choice.
September 20-21 is the Fed’s Open Market Committee’s (FOMC) next meeting, which will be telling about the future path of interest rates – both in the US and Australia.
If the Fed hikes that will put downward pressure on the Australian dollar. The RBA seems uncomfortable with the current level of the local unit, and they would probably welcome a weakening, which would give them more wiggle room on their own cash rate.
And although it wasn’t “data” exactly, Prime Minister Malcolm Turbull recently reminded us of the benefits of free trade, in the leadup to the G20 Summit in Hangkhou. His admonition that “One important way in which the G20 summit can promote open trade policies is by assisting members to do a better job of measuring and communicating the benefits,” is well taken as populism seems increasingly the political order of the day around the world.
At least one piece of positive news surrounded the event, with China and the US ratifying the Paris climate deal on the eve of the summit.
Action on climate change and a boost for free trade would make for a very successful summit. Let’s hope our PM supports the former, not just the latter.
Richard Holden is professor of Economics and PLuS Alliance Fellow, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">here</a>.
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All eyes on the central bankers

<html><body>While a rate change is highly unlikely at tomorrow’s Reserve Bank board meeting, home loan sizes are expected to soar this mortgage season, with borrowers looking to take advantage of a historically low-interest rate market, according to finder.com.au.  All 38 economists and experts surveyed last week for the monthly <a href="https://www.finder.com.au/?utm_source=pr_pressrelease_internal&amp;utm_campaign=51641f4a4e-01SEPT20169_2_2016&amp;utm_medium=email&amp;utm_term=0_5921dab448-51641f4a4e-295349757&amp;goal=0_5921dab448-51641f4a4e-295349757" target="_blank">finder.com.au</a> RBA Survey are forecasting a pause to the cash rate at 1.5 percent, following last month’s rate cut.  However, there may be a further fall to come, with 47 percent of the experts predicting a rate cut before 2017. November was the most likely month cited for a cash rate drop. In fact, over seven in 10 (72 percent) of the experts are forecasting the rate to slip below its current value of 1.5 percent. Most of these experts (14, 39 percent overall) expect the cash rate to bottom out at 1.25 percent, with 22 percent (8) expecting a low of 1.00 percent and four economists (11 percent) forecasting the cash rate to dip even further.  With two cash rate cuts already in the bag this year – the 12th cut this rate cycle – all signs are pointing to a strong mortgage season (September to November 2016) with the national home loan size set to swell. While the current average national home loan size is $360,100, new data, which will incorporate the effect of last month’s rate cut, is expected to show that loan sizes are on the rise. Graham Cooke, Insights Manager at finder.com.au says, historically, rate cuts have usually led to loan size increases. “In the months directly following the last 10 RBA rate cuts prior to August 2016, the average home loan size in Australia increased seven times and the first home owner loan size rose eight times.  “The average increase in first home owner loans was 1.57 percent, with the most significant increase in June 2016, when loan sizes increased by 3.6 percent (directly following the May 2016 rate cut).  “The average first home buyer loan size currently sits at $335,000 as of June. Based on this and recent trends we could expect first home buyer loan sizes to jump by about $5,260, while the average loan of $360,100 could increase by 1.80 percent, or $6,480,” he says. “The potential danger with an unprecedented low rate market is that borrowers, particularly first home buyers, may be enticed to increase their borrowing budgets in order to get into the property market. As a result, some may be borrowing more than they can afford in the long-term. “But a home loan is a long-term commitment that needs a conservative approach. When applying for a home loan, always do your research, and this includes factoring in a buffer of 2-3 percent to accommodate future rate hikes.  “While rate hikes may be difficult to imagine right now, thinking ahead may end up saving you money in the long run,” he says. When comparing your home loan options, jump online to see what’s on offer. Pay attention to the maximum insured loan-to-value ratio (LVR) to see how much of a deposit you’ll need to complete and whether or not you’ll need to pay mortgage insurance. To estimate your borrowing capacity, <a href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=e4acf67db0&amp;e=58cd8ffd03" target="_blank">use an online calculator</a> to get an indication of how much you can comfortably afford to borrow.  Here’s what our experts had to say: Jordan Eliseo, ABC Bullion: "The RBA will be happy to sit tight after their recent move, though we still see rates heading much lower in this cycle. CAPEX, inflation, wage growth etc are all still soft, and the AUD is still stubbornly sitting above USD $0.75. Headline GDP growth rates are reasonable, but we still expect the RBA to look through that and cut later in this year." Shane Oliver, AMP Capital: "It’s too soon since the last move in August and not much has changed to justify a move." Garry Shilson-Josling, Australian Associated Press: "The RBA prefers to link its cash rate moves to quarterly CPI releases and the next is not until late October." Darryl Gobbett, Baillieu Holst Ltd: "Bias is to cut further with the Aussie dollar still higher than wanted and outlook for continued private sector deflation but RBA wishes to retain some flexibility. Expect cash rate to be cut in November to 1.25%." Peter Munckton, Bank of Queensland: "The RBA has the cash rate at the right level." Richard Robinson, BIS Shrapnel: "Economic growth and the unemployment rate are reasonable at present. The last rate cut failed on three grounds - firstly, the exchange rate was unaffected (and it is our view that the RBA was seeking to engineer a depreciation) and secondly, the housing market saw an increase in sales activity and prices (and the RBA had said it didn't think there was a risk of this happening) and thirdly, only half of the cut was passed on by the commercial banks. The RBA should keep their powder dry for when the economy weakens in 1-2 years time or cut on the back of a rise in US rates to engineer a drop in the dollar." Michael Blythe, CBA: "[The RBA are] waiting for next CPI." Savanth Sebastian, CommSec: "RBA will want to see how the economy responds to the last two rate cuts in a post-election environment. Inflation outcomes will be key to next move on rates." John Hewson, ANU: "[The RBA are in] wait and see mode." Scott Morgan, Greater Bank: "The RBA is currently focussed on what the Australian dollar is doing what the US will do with rates. With the fairly stable dollar and talk of US rate increases, I think they will ‘wait and see’ this month." Mark Brimble, Griffith University: "They will take time to consider their options and explore alternatives as they wait to determine the impact of the previous rate cut (if any)." Peter Haller, Heritage Bank: "The RBA will wait to see what impact the August rate cut has on inflation and the economy more generally." Alex Joiner, IFM Investors: "No catalyst for a further move in terms of the data flow or deterioration of the outlook." Robert Montgomery, Infrastructure Partnerships Australia: "The RBA will hold rates at 1.5% after last month’s cut and wait to see how inflation responds. However, due to broader economic factors, monetary policy is unlikely to stimulate inflation in the near-term, meaning that the RBA will be cautious about further rate cuts in the near future." Michael Witts, ING Bank: "The RBA has done sufficient for the immediate term, much will depend on the US Fed and how the AUD responds." Leanne Pilkington, Laing+Simmons: "The cash rate is already low and any impacts from the recent cut have yet to really be felt in a housing market sense." Nicholas Gruen, Lateral Economics: "Because they are flying by the seat of their pants, and given the recent cut they won't want to do it again too soon." Lynne Jordan, Liberty: "There’s still no doubt another rate cut is on the cards. Completed construction levels dropped sharply in the last quarter, jobs and unemployment are showing no improvement since March and wage growth is expected to remain subdued for some time. However, rumours of a rate hike in the US are expected to apply downward pressure on the Australian dollar, meaning the Reserve Bank’s timeline for an additional rate cut could be pushed back to early next year. The urgency of any rate cut will no doubt take into consideration the impact of Government efforts to return the economy to benchmark GDP growth whilst also fighting deflation. As we’ve seen in overseas markets, in particular Japan, Europe and the US, monetary stimulus hasn’t produced the desired result. That suggests not only is the RBA going to have to push interest rates to even lower record levels, but there will be an increasing need for the government to use other measures such as fiscal stimulation if they are going to succeed in their objectives." Grant Harrod, LJ Hooker: "Concerns another decrease could drive house prices up further." Stephen Koukoulas, Market Economics: "RBA maintains a hint of optimism about the outlook - no need, at this stage, for more monetary policy stimulus." Michael Yardney, Metropole Property Strategists: "Having cut rates last month the RBA will now wait and see the effect of these cuts. The strong property markets, especially in Sydney and Melbourne, are likely to make the RBA wary of further cuts at present." Mark Crosby, Monash Business School: "With the Fed [Federal Reserve] considering raising there is no reason for the RBA to cut given recent cuts to the cash rate haven't had time to feed through to inflation." Emily Dabbs, Moody's Analytics: "Weak inflation data prompted easing earlier in the year, and the central bank will likely wait until the next data point before easing policy further." Jessica Darnbrough, Mortgage Choice: "Given that the Reserve Bank cut the cash rate last month, I think they will take a wait and see approach in September. The RBA will be keen to see what impact last month's rate cut will have on the property market as well as the broader economy before making any further adjustments to the current monetary policy setting." Saul Eslake, Economist: "RBA cut the cash rate at its last meeting, and will want time to evaluate the effects of that move before considering any further change - in the absence of any significant change in the economic environment." Alan Oster, NAB: "It’s too early to see results of last month's cut." Jonathan Chancellor, Property Observer: "Often the RBA cut in quick succession but not this time as with rates at such lows they are unlikely to have the desired outcome. They must be worried too about the Sydney property market resurgence." Matthew Peter, QIC: "Having cut in August, the RBA will await further data on growth and inflation and for signals from the US Fed on their next rate hike, before considering whether to end the current easing cycle." Noel Whittaker, QUT: "It’s too soon to change after last month." Angus Raine, Raine &amp; Horne: "The time of year will most probably drop before Christmas." Christine Williams, Smarter Property Investing: "In my opinion the rate will stay on hold due to last month's decrease together with the decrease of unemployment rate and coming into spring where historically the unemployment rate continues to reduce with seasonal employment in the retail, food and construction industries." Janu Chan, St.George Bank: "The RBA will take their time in assessing the impact of recent rate cuts in August and May." Steven Milch, Suncorp: "No pressing case for a move so soon after the August cut." Brian Parker, Sunsuper: "No material change in the RBAs growth or inflation outlook since last time, and current level of rates isn't holding anyone back!" Scott Haslem, UBS: "We believe now accommodative policy at a 1.5 percent percent cash rate, firm growth data, a likely trend lower in the AUD and concern about financial stability will see the RBA on-hold at 1.5 percent for the foreseeable future. While inflation will remain low, core inflation is likely to drift modestly higher from here." Nicki Hutley, Urbis: "Data is showing growth and employment remain moderately healthy. RBA [will be] reluctant to cut further so will wait for next CPI number to see if there is cause to cut again."</body></html>

Rate change unlikely, home loan sizes to soar

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A record price was set for a Surry Hills, inner Sydney warehouse at weekend auction when purchased by North Shore buyers.
It fetched $7.95 million some $400,000 higher than the $7.45 million prior top price.
The weekend buyer secured a 780-square-metre four-bedroom three-level warehouse in Bennett Place, a mid-19th century building that had undergone a transformation by designers Hare &amp; Klein (above).
The space came with a four-car garage, artist’s studio, plus plenty of open-plan living areas with lofty ceiling and industrial throwbacks. 
The Bennett Place warehouse previously held the suburb record the last two times it traded, for $5.71 million in 2012 and then $3.1 million in 2009. Not sure it was a record price when it was sold at $350,000 in 1991.
Artist Melinda Marshman and medico husband, David sold the warehouse which sits on the Marshall Street corner having bought it for $5.71 million in 2012 when bought from sculptor Gaby Porter.
The 1870 building, first recorded in Sands Directory as being a carriage and livery stable, has 760 square metres of floor space.
The earlier record stood since last year at $7.55 million, when Mark Ainsworth bought the nearby one with a distinctive heart-shaped pool.
It ranks among the more authentic of the warehouses of Surry Hills that once housed the city’s rag-trade industry. 
The $7.55 million sale last year secured a heart-shaped pool as the centrepiece of 450-square-metre converted warehouse once owned by Stuart Membery. 
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Surry Hills warehouse among the weekend auction top sales

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Sydney had the nation's highest sale when a four-bedroom waterfront home at 78 Wrights Road, Drummoyne sold for $8.05 million.
The pre-auction price guidance was $6 million to $6.5 million. The waterfront home came with jetty, pontoon and a permanent boat mooring facility (above). 
The property was one of about 540 scheduled to go under the hammer across the city on Saturday, the first day of the spring selling season. 
Domain Group put the Sydney clearance rate at 80 percent and CoreLogic at almost 84 percent.
The number of homes taken to auction across Australia over the weekend fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago, CoreLogic advised.
The 78 percent national clearance rate was higher than the previous week’s result of 74 per cent and up from last year, when the clearance rate was recorded at 73 percent and in decline.
The results show that Sydney's 83.9 percent rated higher than the improving Melbourne which had a 79 percent success rate.
Both cities were host to fewer auctions this week when compared to last week.
Melbourne's preliminary clearance was up from last week’s result of 77.4 percent.
The 79 percent 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 percent," CoreLogic spokesperson, Kevin Brogan said.
The preliminary clearance rate is higher than the 75 percent one year ago.
There were 826 auctions held in Melbourne, down from last week’s 1,060 auctions and lower than the 992 auctions held at the same time last year.
Of the nine sub-regions in Melbourne, the strongest performer was the Mornington Peninsula where 93 per cent of the 30 reported results were successful.
A five-bedroom 2002-extended 1930s house on 1300 sq m in Kew sold through Jellis Craig for $6.24 million ranked as Melbourne's top seller (below).
<img src="/images/2016/09/05/Screen%20Shot%202016-09-05%20at%209.05.40%20AM.png" alt="">
It last sold in 1997 at $1.27 million. More than $5.5 million was the pre-auction price guidance.
Kew also had Melbourne's second dearest sale at $4.8 million at 51 Rowland Street.
In Sydney, a preliminary clearance rate of 83.9 per cent was recorded, up on 78 percent over the prior period. There were around 540 weekend auctions and 780 across the week.
"Since the final week in April this year, Sydney has consistently recorded weekly clearance rates above the 70 per cent mark," Kevin Brogan said.
"One year ago, auction activity across Sydney was significantly higher, with 1,023 auctions held and 76.9 percent clearing."
Ryde's 95 percent and the Northern Beaches' 91 percent recorded the highest preliminary clearance rates of the sub-regions.
With 135 Brisbane homes taken to auction, Brisbane recorded their highest preliminary clearance rate for the city this year at 58 percent, up from 44 percent last week and higher than one year ago, when 42 per cent of the 130 properties taken to auction were successful.
In Brisbane, the most expensive residential property to sell was a renovated Hamptons-style, five-bedroom house at Bardon which sold for $2.5 million to a Singaporean couple (below).
<img src="/images/2016/09/05/Screen%20Shot%202016-09-05%20at%209.06.49%20AM.png" alt="">
The pre-war Queenslander at 167 Simpsons Road was transformed with an 18 month renovation had previously traded at $1,186,000 in late 2014.
Brisbane had the nation's cheapest weekend auction result which was $330,000 on Macleay Island. The 137 Beelong Street two bedroom, with water views across the bay, sold through First National Real Estate.
Adelaide saw a preliminary clearance rate of 80, across 57 reported auctions; the highest Adelaide has recorded for the year.
Over the previous week Adelaide’s clearance rate was 63 percent and 69 at the same time last year.
In Perth, auction numbers fell to 26 this week with a preliminary clearance rate of 16 percent. Just six auctions have been reported.
Last week, the final clearance rate for Perth was 34 percent across 29 auctions.
Canberra’s preliminary rate was 77 per cent this week, compared to 71 percent last week and 71 percent one year ago.
The week’s 77 percent is the highest preliminary clearance rate Canberra has seen since early March this year.
CoreLogic has captured 76 results, rising from 56 last week. 
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More capital cities secure year high clearance rates 

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The Sefton estate at Mount Macedon is back for sale, unquestionably spring's finest garden offering across the nation.
Built by the Baillieu family as a summer holiday home in the early 1900s, the 8.8 hectare English garden was laid out with obvious influences of the Melbourne Royal Botanic Gardens directors Baron von Mueller and W. R. Guilfoyle.
The estate includes a 910-square-metre <a href="https://www.realestate.com.au/property-other-vic-mount+macedon-7843602" target="_blank">seven bedroom 1907 Tudor-style mansion</a>, complete with a billiards room and a glass atrium sitting room. It was designed by the architectural firm Sydney Smith and Ogg. A four-green nine-tee golf course, tennis court, croquet lawn, heated outdoor swimming pool and helipad are surrounded by Capability Brown style gardens.
It has been listed by Gribbles Pathology founder Wallace Cameron who bought it through Keatings Real Estate for a then record $8,175,000 when buying it from the Fosters Group which had a reserve of $4.62 million. The Baillieu's sold in 1968 for $65,000 to the mining companies, CRA and North Broken Hill which sold to Fosters in 1983 for $475,000.
In 2010 Sefton was withdrawn from sale after being offered for about $12 million. JP Dixon has the listing.
This article was first published in the Weekend Australian Mansion Australia property section.
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j.ballantyne1990-6AQqhLzZaK

Historic 1907 Mt Macedon estate, Sefton returns to market

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Seasonal adjustments for department store sales have delivered a bit of a wild ride in recent years, and this month's Retail Trade figures recorded a monster -6.2 percent decline for the sector in July. 
It's not the first time we've seen a 'far out' reading for department store retail (last time the figures snapped back the following month) - but we'll have to wait until next month to see whether that happens again.
In any event, this contributed a flat result in seasonally adjusted terms, for just a +0.1 percent increase in trend terms.
Excluding the department stores reading retail turnover would have been up by +0.4 percent for the month, so we'll have to wait and see what next month brings. 
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 <div>Year-on-year retail turnover growth has sagged over the past year to just +2.7 percent, to now sit well below the half decade average.</div>
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 State versus state <div>The powerhouse states New South Wales (-0.2 percent) and Victoria (-0.5 percent) unusually both recorded negative results in July, possibly because department stores have their head offices in Sydney and Melbourne, though nobody really seems to know if that's why.</div>
<div> </div>
<div>The only decent monthly results were seen in Queensland and South Australia.</div>
 <div class="separator"><a href="/images/2016/09/05/A3.jpg" target="_blank">Click to enlarge</a></div>
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 <div>Over the past year the opening of a new IKEA in Canberra was the spark to create the strongest retail turnover growth in the Australian Capital Territory (ACT), while the southern states have fared relatively well over the year to July. This month's surprise negative result knocked the quarterly and annual figures for NSW and Victoria quite hard.</div>
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<div>Note how demand in the the resources rich Northern Territory has fallen away in tandem with Western Australia, where iron ore and LNG construction projects have recently transitioned to production.</div>
 Department stores crunched <div>Erm, and then there's this. Maybe everyone stopped shopping for a month and there's a rebound pending, or perhaps the timing of revenues being booked is a bit of a lottery. Leaving aside the department stores outlier, it's become clear that the household goods boom that piggy-backed off rising house prices as now ended. </div>
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 <div>Food retail turnover was also weak in dollar terms, in part reflective of soft food prices and intensified competition from low cost supermarkets such as Aldi.</div>
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<div>
 The best performing sector of the year has been clothing and footwear. 
</div>
<div>The wrap</div>
<div> </div>
<div>A rubbish result! We won't know until next month whether department store retail turnover was an anomaly, but it was an inauspicious start to Q3 for retail trade!</div>
<div> </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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