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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Toowoomba, located 125km west of Brisbane, has been pinpointed by estate agent John McGrath as one of the most exciting emerging regional centres in Australia. 
"Right now, Toowoomba has all the hallmarks for growth.
"We believe its strong focus and investment in infrastructure, retail and lifestyle precincts will have an impact on both interstate migration and employment opportunities in the short, medium and long term."
McGrath's forecast comes as several multi-million dollar projects are either underway or being planned, namely the $1.6 billion Second Range Crossing, the development of the 550 hectare Wellcamp Airport Business Park; the $500 million redevelopment of Grand Central shopping centre and the transformation of the railway precinct into an urban village and parklands.
He told his Switzer blog readers that the key indicators of a hot spot are beneficial new infrastructure, redevelopment of retail centres and more lifestyle amenities.
"Toowoomba has them all," he said adding the median house price is just $362,000 (CoreLogic).
"This affordable price point is not only attractive to the locals, it’s also attractive to tree changers, downsizers and investors.'
The median house rent is $305 per week (realestate.com.au) – a respectable yield of 4.4%.
The McGrath Toowoomba agent Toby Sandell advised that Toowoomba was at "the best point" in the cycle for buying for long-term capital growth now.
“Our local market has been subdued for the past year since the banks tightened investment lending.
"As a result, we’ve seen very few investors in the marketplace, a decline in sales volumes of 33% (APM) and the region’s average days on market has increased to 67 days (REA),” Sandell says. 
“While there’s fewer investors, the flipside is we’ve seen more first home buyers and upgraders taking advantage of affordable buying and lower interest rates. There is good demand from locals for quality properties in the right areas.
“Interestingly, the median house price rose by 1% over the year despite these tougher conditions.
"The fact that the price is holding and even increasing slightly is a sign of Toowoomba’s resilience and strength.
"One reason for this is strong and stable employment with the state’s lowest unemployment figures.
“In the lead-up to Spring, we are just starting to see a few more positive signs with a bit more buyer enquiry and a few more investors from Sydney and Melbourne returning to look for well-priced homes.
“Stock is tight but we have been busy doing more appraisals for the past four-six weeks so we’re expecting that stock shortage to ease. We are currently marketing a number of high-end properties which have all attracted good numbers at opens.” 
McGrath looked at specific projects.
Brisbane West Wellcamp Airport
The airport is having a positive effect on the accessibility of the region both domestically and into Asian markets. It is continuing to expand, with direct passenger flights to Melbourne and Cairns commencing in March. Several agri-based companies are setting up in the surrounding Business Park in order to take their produce directly to Asia. One of these is a baby milk formula factory – the first in Queensland, which will export directly to China.
Second Range Crossing
This new 41km road is important because it will take trucks off city streets, creating a better community amenity, while also enabling a faster trip for freight services. It will create 1,800 full-time jobs. Major construction is underway, with the peak phase expected around mid-2017, so as more workers move in during summer and into 2017, we expect to see weekly rents rise as well.
Grand Central redevelopment
Stage 1 of this massive new shopping centre should be open for Christmas retailing. The redevelopment will include a new dining precinct, department stores, supermarkets and almost 160 other stores.
Railway Parklands Precinct redevelopment
This 50 hectare site will incorporate a central park, shops, commercial and industrial facilities and residential options. The council estimates it will provide up to 3,300 jobs during construction and a further 1,800 jobs in retail and service industries. The developer is currently working with council to finalise the plans.
Super-Hot Spots within a Hot Spot
McGrath advised every city has its super-hot spots.
"Right now, most of Toowoomba presents great buying," he said.
South Toowoomba and Centenary Heights
<ul>
<li>
Hot price bracket: $350k-$500k</li>
<li>
Buyer demographic: Young families wanting value for money and close proximity to the CBD</li>
</ul>
Property Observer went looking at recent sales and listings.
A three bedroom, one bathroom home in South Toowoomba sold yesterday for $390,000. The property at <a href="https://www.realestate.com.au/property-house-qld-south+toowoomba-122505078" target="_blank">209 Geddes Street</a> (below) last traded for $104,063 in 2000.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.03.49%20AM.png" alt="">
Another three bedroom, one bathroom home at <a href="https://www.realestate.com.au/property-house-qld-south+toowoomba-123207906">127 Perth Street</a> (below) has been listed with $395,000 hopes. The cottage on a generous 559 sqm parcel last traded for $259,000 in 2012.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.04.48%20AM.png" alt="">
East Toowoomba and Rangeville
<ul>
<li>
Hot price bracket: $500k-$800k</li>
<li>
Buyer demographic: Premium suburbs for upgrading families, although stock is very tight</li>
</ul>
Priced at $799,000, <a href="https://www.realestate.com.au/property-house-qld-east+toowoomba-123143286" target="_blank">15 Fletcher Street</a> (below) in East Toowoomba comes with three bedrooms, three bathrooms and its own pool. The home last traded for $580,000 in 2010.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.05.47%20AM.png" alt="">
A four bedroom, two bathroom home at <a href="https://www.realestate.com.au/property-house-qld-east+toowoomba-121578562" target="_blank">10 Anderson Street</a> (below) in East Toowoomba sold earlier this month for $696,000. It last traded for $124,000 in 1990.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.06.50%20AM.png" alt="">
 
But other commentary has emerged this month. The number of properties listed for sale in Toowoomba is rising and with slowing sales activity, there may need to be some adjustment in asking prices to attract buyers, according to the valuation firm, Herron Todd White.
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jchancellor-FAypfDUnLy

Toowoomba's super hot spots: John McGrath's tips

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Large contemporary private residences in South Yarra have been offered for sale in the newly released development The Millswyn.
The new residences will be built in the grounds of Millswyn Court, an historic Victorian Italianate mansion built in 1886 for one of South Yarra’s original settlers, James Gatehouse.
In recent decades Millswyn Court has been used as the Albany boutique hotel and a 1960s motel-style three-storey construction which recently close to be demolished to build the new residences.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/08/18/500_mill.jpg" alt="">
The project has been designed by architect Rob Mills to be set in manicured gardens designed by landscape architect Paul Bangay.
Internal floor plans range from 207 to 404 square metres.
The eight large ground and first level residences have private outdoor living areas of 24 to 96 square metres.
On the top level the two penthouses have rooftop terraces of 145 and 207 square metres with outdoor kitchen and entertainment space; one includes a pool.
Finishes befit both the location and design with luxury Italian marble wrapping around island benches, kitchen benchtops and splashbacks with bathroom walls, floors and vanities in luxury Italian marble.
<img src="https://www.urban.com.au/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.51.31%20AM.png" alt="">
French grey American oak floorboards will flow through living areas with pure wool bedroom carpets.
Two pac joinery has bronzed accents and the Miele kitchen appliances include two ovens, induction cooktop and integrated refrigerator, freezer and dishwasher with a Qasair rangehood.
It has been listed by Marshall White agents Marcus Chiminello and Nicole French by the Pask Group with completion anticipated in 2018. The 2150 sqm site last sold <a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-501307915" target="_blank">at $16.4 million in 2014</a> by entreprenuer Paul Holyoake who paid $13.7 million in 2012 for the corner holding on Millswyn Street and Toorak Road.
For more information, <a href="https://millswynsouthyarra.com.au/?gclid=CNHTru7vyc4CFQGAvQodZR8MQA" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

The Millswyn, South Yarra - 10 luxury residences to be built

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Savills International have recently launched the marketing for a trophy property in Germany, close to Berlin.
Villa Kampffmeyer stands as one of the most important private residences in Germany. The four-bedroom Baroque-inspired villa in Potsdam was built in the 1920s for a family of a flour tycoon.
It’s on the market for €28m ($41.2 million).
It is situated within a UNESCO World Heritage Site, at the edge of the water marking the historical boundary between Berlin and Potsdam.
It has views of two of Prussia's famed imperial castles.
Villa Kampffmeyer was erected as the first Baroque inspired private house in the vicinity of Glienicke Bridge across from Babelsberg Castle, which served as summer residence of Emperor William I. 
The house draws its inspiration from neo-classical and baroque styles, and is framed by a grand entrance portico on one side and a multitiered rounded cupola on the other, adorned by a statue of the Greek God Hermes.
Villa Kampffmeyer extends over 15,000 square feet of living and usable space set within two acres of waterside landscaped gardens with century-old trees — a fitting vis-à-vis to the park of Babelsberg Castle.
It was temporarily used during the Potsdam Conference in 1945, and since German reunification has played host to international dignitaries and royalty.
The house was featured in Architectural Digest Magazine in April 2015.
The entrance is adorned by Three Graces and Mercury sculptures, the Greek mythological patron of commerce. The sculptures were created by Ernst Vogel, who's distinguished himself for his work on the Reichstag, the seat of parliament in Berlin.
West Berlin is less than a 25 minute drive from Villa Kampffmeyer. 
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Villa Kampffmeyer, Germany trophy home offering through Savills International 

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John L Realty Pty Ltd, formerly trading as Ray White Kwinana and now trading as Ray White Jones &amp; Associates, has been reprimanded, with a $1,000 fine.
The WA State Administrative Tribunal ruled after Consumer Protection got a complaint from the new owners of a property who became aware of the pre-existing issues over a faulty toilet and the real estate agency/property manager’s inadvertent nondisclosure.
It was three days after settlement when their tenants reported a toilet blockage.
Acting Commissioner for Consumer Protection David Hillyard said the selling agent not communicating information to the buyer, even though it was an unintentional oversight, was a breach of the Real Estate and Business Agents Act 1979 in contravention of the Code of Conduct for Agents and Sales Representatives 2011.
“Before or after receiving the buyer’s offer, the real estate agent should have disclosed the plumbing contractor’s invoices from July and August of 2013 stating that the property’s pipework to the septic tank was damaged and that further problems would occur if it was not repaired,” Mr Hillyard said.
“It was not otherwise likely the buyers themselves would ascertain these facts because the condition of the septic system was only detectable by a special inspection of the tank and pipes, rather than by routine inspections ordinarily carried out by home buyers.
“If the potential buyers had known about the issue they could have considered and explored the cost of the recommended option to connect to the deep sewer, which was available. They may then have altered the amount they were offering for the property on that basis.
“We hope this case serves as a reminder to real estate agents in WA that they must disclose things like this to potential purchasers.”
John L Realty Pty Ltd managed a Medina rental property for its owners from July 2009 to May 2014.
In July/August 2013 the tenants reported pipework problems and a plumbing contractor attended on two occasions to clear blockages between the property and its septic system.
The property manager/real estate agency was advised via the plumbing contractor’s invoice that there was a broken section of pipework between the septic tank and the property, which would cause problems in the near future, according to Consumer Protection WA.
There was also a recommendation from the plumber for the owner to connect the property to the now available deep sewer service.
By November 2013 the owners entered into a selling agency agreement through Ray White Kwinana with settlement completed in May 2014.
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Property 101: Toilet blockage non-disclosure triggers agency fine

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<img src="https://counter.theconversation.edu.au/content/63875/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A lot of Australian building codes don’t actually refer to the maximum number of people a building should fit.
That’s what researcher Agustin Chevez found when he started to delve into how a better office might look.
As the type of work we do changes, it becomes less about the tasks you do and more about your reactions to and relations with those you work with, Chevez says.
So you need to be able to tell how many people should ideally fit in a space, but that’s not all.
Offices also need to take into account what makes us human, and our varying personalities.
To hear the interview in full, <a href="https://theconversation.com/business-briefing-a-better-way-to-design-an-office-63875" target="_blank">click here</a>.
Jenni Henderson is assistant editor, Business and Economy, The Conversation and can be contacted <a href="https://theconversation.com/au/team#jenni-henderson" target="_blank">here</a>.
Agustin Chavez is adjunct research fellow, Centre For Design Innovation, Swinburne University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/agustin-chevez-120649" target="_blank">here</a>.
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A better way to design an office

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Sekisui House, the world's largest residential construction company, support the latest industry forecasting for growth in Sydney's south west region.
Sydney's property prices have increased by more than $350,000 in just three years.
However, Sekisui House's new development, The Hermitage at Gledswood, is offering homes well below Sydney's $1,013,000 median house price.
Their new, two-storey, turn-key homes are selling from $738,000.
The Hermitage is a 307 hectare masterplanned community which will include Gledswood Village, a mixed-use precinct spanning over seven hectares that will include residential, retail, commercial, leisure and entertainment opportunities and a primary school slated for 2020.
There's 120 hectares of golf course and a future Greg Norman designed and constructed course, scheduled to be playable in 2018, and 35 hectares of parkland and open green spaces.
Westpac highlighted a report that reveals the state government’s ‘First Home Owner Grant’ (New Home) and stamp duty concessions under the ‘First Home–New Home Scheme’ make purchasing in south west Sydney one of the most affordable areas in metropolitan Sydney for first home buyers.
Sekisui House project director Craig D'Costa said Gledswood Hills experienced a considerable price growth of 15.5 percent between 2014 and 2015.
“In the year since the South West Rail Link opened, demand for property within our development The Hermitage has increased dramatically," he said.
"As one of the NSW Government's 'Priority Growth Precincts,' south west Sydney has received a great boost thanks to several large public works programs.
"Key government works like the M5 widening, WestConnex and the new airport at Badgerys Creek have combined to create a tremendous investment opportunity in the southwest growth corridor."
D'Costa noted a recent shift in the buyer demographic in the last 12 months.
"It is fast becoming a preferred precinct destination for buyers from all over Sydney, not just residents already residing in the local South West region”.
 
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j.ballantyne1990-6AQqhLzZaK

South West Sydney primed for real growth

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The Wollongong CBD, being located 90 kilometres south of the Sydney CBD in the Illawarra property market, rides on the coat tails of Sydney’s property market, according to Herron Todd White.
The valuation firm said with a substantial boom taking place in Sydney since 2012 many people have been looking outside the capital cities for housing accommodation, with affordability a big driver.
"One region that has benefited is the Illawarra," it noted.
"Combined with access to established and developing infrastructures and a coastal lifestyle, it’s not hard to understand why people are putting up with a 60 to 90 minute commute across Sydney when they can live close to some of the state’s best beaches for a more affordable price with a similar commute time.
"It is Wollongong’s northern suburbs that get impacted the most directly," their latest report added pinpointing Helensburgh, which is only a 50 minute train ride to Sydney’s Central station.
It signalled the geographic proximity also has had a flow on effect to Sydneysiders who have a preference for a weekender down the South Coast.
"Hot spots such as Kiama, Gerringong and Huskisson all experience a significant boom when times are good.
"A trend has also developed recently where young Sydney singles or couples are priced out of the first home market in their desired location in Sydney.
"They are happy to continue to rent and live close to their work but are also eager to get into the property game.
"They are therefore looking to invest in a more affordable region and properties in the Illawarra are able to meet their requirements of price, return and capital growth potential.
"It’s often been said by property professionals that there can be anywhere from a one to six month lag between the Sydney and Illawarra property markets.
"If this is true, those in the region will benefit from a heads up when the market eventually steadies itself."
Traditionally a steel region, the Illawarra property market has often ebbed and flowed with the strength of the mining and steel industries.
But HTW said these are diminishing as the local economy transitions to a region whose emerging and substantial drivers are education, tourism and aged care.
Recent growth in the health and aged care industry and further development of world class tertiary education infrastructure attracting domestic and international students are testament to this successful regional strategy.
It also suggested Nowra township and surrounds, (Shoalhaven City Council) traditionally a region underpinned by defence force employment, has benefited in particular from its recent discovery by Sydney buyers, which is assisting in diversifying the workforce so that the property market no longer feels the effects of a downturn within a particular industry so acutely.
A two bedroom cottage, 17 Hay St Helensburgh (above), recently sold for $712,000.
The median price for a home in Helensburgh is $770,000, according to CoreLogic.
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Sydney singles finding Illawarra property investments affordable

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The Canberra residential market is complex with many factors interacting to affect demand, supply and ultimately prices, according to the latest Herron Todd White report.
The valuation firm suggested on a macro level, the Canberra residential market - aided by historically low interest rates - has a number of underlying positives including generally strong employment and a perception of good job security.
"With a transient population and periods where government departments employ graduates and new staff, both rental and sales demand increase.
"Population growth and interstate migration are considered main market drivers.
It suggested demand for family homes is a local market driver, second and third home-buyers with families are looking for centrally located housing in close proximity to schools and services.
Affordability remains an issue for this section of the market, HTW advised.
"With the sitting Liberal government re-elected, public service employment prospects remain steady, although some caution was evident in the lead up to the result.
"Winter is also traditionally slightly slower, so there is an expectation that Spring conditions and improved certainty after the election result will improve the overall market position."
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Affordability an issue for Canberra property upgraders

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Offshore investors had been concerned about their investment through Macro Realty especially since the closure of its Singapore office.
"About time someone puts a stop to this unbridled licence by Macro Group to borrow money from tens of hundreds of investors all over the world," one source advised yesterday after the ASIC announcement.
ASIC advised Perth’s Federal Court has made the interim orders against Desiree Veronica Macpherson that required her to surrender all passports. 
"Many from our part of the world, namely Hong Kong, Malaysia and Singapore have invested significant portions of our life savings because of our high regards for the Australian financial regulatory system, natural justice and common laws.
"We have been following this development for almost a year now with little in the way of information since Macro closed their office in Singapore after fellow investors complained about not getting paid their monthly interest, and hope the authorities will take the appropriate actions in an expedient manner to ensure borrowers' interests are fully protected."
The website reports it was "proud to announce that MACRO Realty Developments has been awarded the REIT Manager of the Year Award – Singapore 2016 as part of The European Global Banking &amp; Finance Awards."
The European Global Awards recognises organisations and individuals achievements based on leadership, innovation and attention to sound corporate governance.
Earlier this year the WA State Administrative Tribunal (SAT) announced that it has granted a supervision order in relation to Macro Realty Pty Ltd following an application by Consumer Protection.
“Macro Realty is suspended from carrying on its business and controlling the agency’s bank accounts. The supervisor, Alan Ferris of BDO, will now take control of the agency’s financial operations and begin the process of winding up the agency,” the WA Department of Commerce said.
The action follows the company’s failure to appoint a person in bona fide control of the agency as required by the Real Estate and Business Agents Act. The previous person in control of the agency resigned on 9 February 2016 and Macro Realty requested a three-month grace period to find a replacement.
The three-month grace period was granted by the acting commissioner for Consumer Protection, David Hillyard, on condition that the agency submitted its monthly reconciliation summary reports for their three trust accounts for February, March and April 2016.
“The agency’s failure to adequately adhere to these conditions was cause for action to be taken to have a supervisor appointed in order to safeguard the money and property of consumers,” Mr Hillyard said.
“It is extremely important that agents understand and fully comply with any condition placed on their licence, especially relating to three-month grace periods. The risk for doing otherwise, as in this instance, can be fatal to their business,” he said.
“Immediate and decisive action will always be taken to safeguard the money and property of consumers where we believe, on reasonable grounds, that an agent is either unable or unwilling to fulfil their obligations under the Act.”
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Offshore Macro investors seek answers and assurances on funds 

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GUEST OBSERVER
Across Australia’s capital cities, price growth has slowed with house prices up 6.1 percent in the year to July 2016 and unit prices increasing by 6.0 percent.
Since the low point in 2012, capital city house prices have increased by 40.0 percent in aggregate while unit prices rose by 29.8 percent. Unit prices started to recover a few months earlier than house prices;
Since bottoming out, the divergence between dwelling price growth in the different capital cities has been remarkably wide. The biggest uplifts have been in Sydney (+61.3 per cent) and Melbourne (+42.0 per cent). At the other end of the scale, Perth (-8.3 per cent) and Darwin (-12.7 per cent) prices have fallen substantially since peaking in 2014;
Despite the considerable variation during the current cycle, price growth across the capital cities has been quite uniform over the past two decades. In real terms, house prices have increased by 5.3 per cent annually compared with 3.9 per cent growth in unit prices;
The ratio of the median dwelling price to average earnings has increased substantially over the past two decades. Much of this is explained by structural changes in household size, economic participation rates, earnings patterns and the level of mortgage interest rates;
During the June 2016 quarter, the price to earnings ratio was 6.96 for houses and 5.80 for units. The highest ratios were in Sydney and Melbourne, with the lowest in Hobart and Perth. With the exception of Sydney, affordability is more favourable than the 15-year average in all capitals;
With respect to wider economic and financial conditions, dwelling prices across Australia appear to be proportionate. However, the wide geographical variation in current conditions means than some markets are likely to experience significantly stronger price growth than others over the medium term. 
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This is an update of the HIA Economics note on dwelling prices which was released in November 2015. 
That piece of research then reported on how annual dwelling price growth across Australia’s eight capital city markets reached 10.1 per cent during October 2015. Since then, the pace of dwelling price growth has slowed and latest data show that dwelling prices increased by 6.1 per cent during the year to July 2016. Over this period, detached house price growth (+6.1 per cent) was almost exactly the same as the growth in unit prices (+6.0 per cent). Later, we explore in greater detail the relationship between house price growth and unit price growth over time in each of the capital city markets. 
As was the case late last year, the variation in dwelling price growth trends is very large when comparing capital cities. The chart below illustrates the changes in house and unit prices in each of the capital cities over the year to July 2016. House prices saw the largest increase in Sydney over the year (+9.0 per cent) followed by Melbourne (+8.0 per cent). Over the same period, the largest increase in unit prices occurred in Hobart (+12.9 per cent) and Sydney (+9.4 per cent). Despite the strong uplifts in several markets, house prices fell quite significantly in both Perth (-5.6 per cent) and Darwin (-5.9 per cent). Over the year, unit prices declined in three capital cities: Perth (-5.8 per cent), Darwin (-14.6 per cent) and Canberra (-0.4 per cent). 
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Aggregated data for the eight capital cities indicate that dwelling prices bottomed out during May 2012 and have since expanded fairly consistently in all capitals apart from Perth and Darwin. The chart below summarises the cumulative increase in detached house prices in each market during the current cycle. Overall, detached house prices increased by 40.0 per cent across the eight capitals between May 2012 and July 2016. The largest house price rise occurred in Sydney over this period (+65.7 per cent), followed by Melbourne (+45.2 per cent) and Brisbane (+18.6 per cent). In contrast, house prices in Perth and Darwin have fallen back since reaching their peaks in 2014. Perth house prices have declined by 8.3 per cent while Darwin house prices are down by 11.8 per cent. Of the cities that have experienced consistent price growth, Canberra has seen the smallest increase in house prices since the 2012 trough (+13.0 per cent). 
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The comparison between prices for detached houses and units in terms of growth is illuminating in several respects. The increase in unit prices has been significantly less pronounced during the current cycle. Also, the upturn in unit prices appears to have commenced about six months earlier than the recovery in detached house prices. Whereas detached house prices have increased by 40.0 per cent during the current cycle, unit price growth has been about 10 percentage points lower (+29.8 per cent). Over the same period, detached house prices have outpaced unit price growth in every single capital city apart from Hobart. This may be related to the smaller sample size in Hobart, as well as the shorter timeframe being analysed for the city.
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The pace at which detached house prices have outrun unit prices during the current cycle is greatest in Brisbane (18.6 per cent v 6.7 per cent), followed by Canberra (13.0 per cent v 5.5 per cent) and Melbourne (45.2 per cent v 20.1 per cent). It is also worth noting that in the Perth and Darwin markets where prices are falling, unit prices have dropped considerably faster than detached house prices. Hobart is the only capital city where unit prices have increased by more than detached house prices in the current cycle (+27.3 per cent v +16.1 per cent). The behaviour of prices in the current cycle underlines the great degree of heterogeneity both across and within the capital city markets. 
How do dwelling prices behave over the long run? 
Assessing dwelling price growth over time allows us to net out the effects of cycles and temporary factors and capture a sense of long-term trajectory of price dynamics. The chart below illustrates the real annual average growth rate for both detached house and unit prices over the 20-year period to the June 2016 quarter (due to data availability constraints, a 15-year timescale is used for both Hobart and Darwin). These data suggest that growth in real detached house prices tends to outpace unit price growth over the long run (5.3 per cent v 3.9 per cent per year). This was the case in each of the eight capital cities, with the single exception of Hobart. 
Perhaps the most striking takeaway is that real dwelling price growth rates across each of the eight capital cities tend to lie within a relatively narrow band over the long run, especially in the detached house market. Real detached house price growth was strongest in Melbourne over the two decades in question (+6.4 per cent annually) and weakest in Brisbane (+4.3 per cent) over the same period. However, six of the eight capital cities were all less than one percentage point apart in terms of real detached house price growth on an annual basis (ranging from 4.4 per cent to 5.3 per cent per year). 
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Compared with detached house prices, the divergence in real unit price growth has been wider from city to city. Over the long term, Hobart units have experienced the largest increase in real terms (+5.6 per cent annually) with the slowest pace of growth in Brisbane (+2.2 per cent per year). In the other six capitals, real unit price growth has been concentrated in a relatively narrow range of between 3.0 per cent and 4.7 per cent annually. 
Despite the considerable differences in economic structure, geographies and the regulatory framework across Australia’s eight capital cities, real dwelling prices still behave in remarkably similar ways from city to city over long periods of time with detached house prices consistently growing more strongly than those of units, although there tends to be much greater price variation on the unit side of the market. 
A possible implication of this is that those markets which have seen recent the strongest price growth exceed the long term average in the recent past are most at risk of below par price performance over the coming years. By the same token, the markets that have recently seen price growth underperformed the long term average rate performed weakest in terms of price are most likely to see future acceleration in price growth. 
Price to Earnings: the relative price of housing 
While median disposable household income is the most conceptually sound indicator for benchmarking dwelling prices relative to income in the economy, the fact that these data are released only once per year with a long lag means that other measures must be utilised for more timely and frequent updates. Accordingly, this note uses average earnings as a barometer for household income due to the fact that earnings data are produced twice yearly (for the May and November ‘quarters’) in a relatively timely fashion. However, it is important to note that earnings data are an imperfect gauge of households’ financial resources, as no account is taken of direct taxation, unearned income (such as pensions, etc.) and income in kind.1 
Based on the average earnings data available from the ABS, the chart below provides an overview of the median dwelling price to earnings ratio across Australia since 1995, including data for detached houses and units. Over this period, the ratio has increased from 3.79 in the June 1995 quarter to 6.57 during the June 2016 quarter. The median detached house price is now 6.96 times earnings, compared with 3.83 in June 1995. On the unit side of the market, the price to earnings ratio has increased from 3.73 to 5.80.
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At first glance, this suggests that dwelling prices have lost touch with prices and incomes in the economy. However, the big uplift in the price to earnings ratio can largely be explained by two structural changes over the past 20 years. First, the number of employees per household has risen significantly over the two decades due to higher female labour force participation rates, a trend towards taking retirement at older ages and changes in the structure of some households involving greater numbers of young professionals in ‘share’ housing. The secular reduction in interest rates over this period has also permitted dwelling prices to grow faster, due to the fact that homebuyers can affordably service much larger mortgages at current interest rates than was the case when the interest burden was much higher. It is worth noting that the RBA’s Official Cash Rate in August 2016 of 1.50 per cent is only one quarter of the 6.00 rate in August 2006 and an even smaller fraction of the 7.00 per cent cash rate of August 1996. 
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Given the wide variation in dwelling price levels across Australia, it is useful to compare the ratio of dwelling price to earnings in the eight capital cities. This is shown in the chart below for each city during the June 2016 quarter for both detached houses and units. In Sydney, the detached house price to earnings ratio continues to be the highest in the country but eased back to 9.55 during the June 2016 quarter, after reaching an all-time high of 10.31 during the final quarter of last year. Detached house price to earnings ratios are also elevated in Melbourne (7.72) and Canberra (6.96). The ranking in terms of unit price to earnings ratios is similar: it is highest in Sydney (7.31), followed by Melbourne (6.03), although Brisbane is in third place (4.86). 
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The detached house price to earnings ratio is lowest in Hobart (4.53), followed by Perth (5.50) and Adelaide (5.92). In terms of unit prices, the pattern is similar. The price to earnings ratio is lowest in Hobart (3.67), followed by Perth (4.29) and Canberra (4.65). Across the eight capital cities, the detached house price to earnings ratio in the June 2016 quarter was 6.96 with the median unit price at 5.80 times average annual earnings. The tendency of dwelling price growth rates to converge implies that the capacity for future dwelling price growth is most limited in those markets where the ratio of dwelling prices to earnings is high, and vice versa. 
The importance of affordability 
While the dwelling price to earnings ratio is a useful snapshot of valuations, it does not take account of changes in financing costs which have fallen sharply over the past decade. The chart below provides an estimate of affordability in both the detached house and unit segments of the market, which is calculated as the ratio of mortgage repayments to gross average earnings of an individual (note that the average household earnings is are greater than the earnings of an individual in the vast majority of cases) on the purchase of a median price dwelling2. With the exception of the GFC period, affordability has shown rather steady improvement over the past decade. The eventual reversion to higher mortgage interest rates over the long term, however, is likely to put affordability under some pressure given that average housing debt levels are high by historic standards. 
Shane Garrett is senior economist for HIA and can be contacted <a href="https://hia.com.au/en/BusinessInfo/economicInfo/EcoGroup.aspx" target="_blank">here</a>.
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