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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GUEST OBSERVER
The June quarter Wage Price Index rose 0.5 percent quarter on quarter or 2.1 percent year on year. This was as expected and leaves wages growth at a record low for the Wage Price Index (which dates back to 1997).
Private sector wages are up 2 percent yoy and public sector wages are up 2.4 percent yoy.
By industry, wages growth ranges from just 1.3 percent yoy in the mining sector (the big surprise is that it’s not negative!) to a high of 2.5 percent yoy in the utilities and health care sectors.
By state, wages growth ranges from 1.8 percent yoy in WA to 2.2 percent yoy in NSW and SA.
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Source: ABS, AMP Capital
Ultra-low wages growth reflects ongoing spare capacity in the labour market (with unemployment and underemployment at 14.2%) and low corporate revenue growth which is flowing through to low budgets for wages growth. 
Continuing record low wages growth means ongoing downwards pressure on inflation as it contains cost pressures for businesses. As such it adds to the risk that inflation will stay below the RBA’s target range for longer than the RBA is currently projecting. 
Low nominal wages growth also means ongoing softness in growth in household income which in turn limits consumer spending. Fortunately, real wages are rising because inflation is even weaker, but they are only rising by 0.5 percent yoy and its likely that nominal growth has a greater impact on how households feel.
The continuing weakness in wages growth and the risks it poses to inflation are consistent with our assessment that the RBA will cut interest rates again this year, but probably not until November when we see the cash rate being cut by another 0.25 percent taking it to 1.25 percent.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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Wages growth drives expectation for one more RBA rate cut: Shane Oliver

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The capital city median time on market for a house in Sydney is 34 days, Melbourne 33 and Canberra 38, according to CoreLogic's latest Property Market Indicator Summary.
Units in Sydney are taking 34 days to sell, Melbourne 36 days and Brisbane 83 days.
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34 days to sell a house in Sydney, Melbourne 33: CoreLogic

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Adjudication
The process of determining an adjudication application. Adjudicators consider written material submitted by parties, and undertake further investigations if required. Adjudication does not involve a hearing.
Adjudicator
A professionally qualified, independent decision-maker who determines adjudication applications under the BCCM Act. In making decisions, adjudicators are not subject to direction (for example, by the Commissioner or Attorney-General).
See also Specialist Adjudicator
Administrator
A person appointed by an adjudicator to undertake specified functions of a body corporate, committee or committee member, such as calling a general meeting of the body corporate.
Affected person 
A person named by an applicant as being affected by the outcome sought in a conciliation or adjudication application. 
Appeal           
An application by a person aggrieved by an order to overturn the order. Adjudicator’s orders can be appealed to QCAT on a question of law and referee’s orders can be appealed to the Magistrates Court. The BCCM Office is not a party to an appeal and has no role in the appeal.
Applicant
A person who applies for conciliation or adjudication under the BCCM Act or for an order of a referee under the BUGT Act.
Application
A request, made in the required form and accompanied by the prescribed fee, for conciliation or for an order of an adjudicator or a referee.
Amendment
A request by an applicant to change or add to their application. Amendments require the approval of the commissioner, which may be subject to conditions if sought after parties have been invited to make submissions.
BCCM Act
Body Corporate and Community Management Act 1997.
BCCM Office 
Office of the Commissioner for Body Corporate and Community Management.
Body corporate
The legal entity created when a community titles scheme is established. All lot owners are automatically members of the body corporate. The ‘body corporate’ is different from the ‘committee’ elected to administer it on a day-to-day basis or a ‘body corporate manager’ engaged to assist with administrative duties. Distinct from a ‘body corporate manager’.
Body corporate manager
A manager (individual or a company) may be appointed by a body corporate to provide administrative services (for example, sending out levy and meeting notices). Distinct from a ‘body corporate’.
BUGT Act
Building Units and Group Titles Act 1980.
Case management 
The assessment of an application to determine if it meets the requirements of the body corporate legislation, and the management of applications through to their referral to conciliation or adjudication.
Commissioner
Manages the dispute resolution and information services provided by the BCCM Office. The Commissioner makes decisions about the case management of applications under the BCCM Act, but does not consider the merit of an application, make orders, or review orders.
Complex dispute
A dispute which can only be determined by QCAT or a specialist adjudicator. Includes certain disputes about contractual matters and lot entitlement issues.
Conciliation   
A process in which the parties to a dispute meet with a conciliator to try and reach agreement on how to resolve the dispute.
Conciliator     
An impartial dispute resolution professional who assists parties to resolve their dispute. The conciliator does not decide the merits of a dispute or how to resolve it.
Conciliation agreement       
The written document signed by the parties to a conciliation application, detailing the things they have agreed on. It is a good will agreement and is not legally enforceable.
Consent order          
An order made in the terms agreed to by the parties. A consent order can be enforced but cannot be appealed.
Declaratory order    
An application for an order about an operational matter where there is no dispute and no respondent (e.g., requests to change the financial year end date). A declaratory order is not appropriate where there is a dispute over an issue or an applicant is seeking an interpretation of or a ruling on a legal issue.
Dispute resolution recommendation         
A decision of the commissioner or delegate as to how an application should be resolved (e.g. conciliation or adjudication).
Dismissal       
A decision of the commissioner or an adjudicator not to decide an application that is within the jurisdiction, on the basis that it would be better determined in a court or tribunal of competent jurisdiction. 
Emergency application        
An application that can be referred to an adjudicator to determine without the usual submissions process, usually if there is no dispute (eg. if a body corporate seeks urgent authorisation of spending).
Expeditable application      
An application for final orders that may be progressed more quickly, either because there is no dispute or because of the urgency of the circumstances.
Extension       
Extra time which may be allowed on the due date to provide information, make a submission, or reply to submissions.
Interim order
A temporary order which puts an action on hold or keeps things as they are until a final order can be made about the dispute. Interim orders are distinct from expeditable applications. 
Jurisdiction    
The legislative power of a conciliator to conciliate an application; or an adjudicator or referee to decide an application.
Order  
The written decision of an adjudicator or referee to determine an application, accompanied by a statement of reasons. An order may grant or dismiss the orders sought, or made alternative orders. An order is legally binding and enforceable. It is an offence to contravene an order.
See also Interim order, Declaratory order and Consent order 
Parties to a dispute  
Those named in an application as being involved in a dispute – the applicant, respondent and affected persons.
QCAT  Queensland Civil and Administrative Tribunal. QCAT determines appeals of adjudicators’ orders and complex disputes, as well as disputes about debts owed by owners to a body corporate. 
Referee           
A professionally qualified, independent decision-maker who determines applications for orders under the BUGT Act 
Regulation module   
Each community titles scheme is registered under one of five regulations (subordinate legislation) made under the BCCM Act which helps determine the procedures applicable to that scheme.
Rejection       
A decision of the commissioner to end an application, for example because it is not within jurisdiction, or the applicant has not attempted self-resolution or conciliation, or the applicant has not supplied requested information.
Reply to submissions           
A written response made by an applicant to the submissions made about their application. 
Respondent  
A person named by an applicant as the person against whom the outcome in an application is sought. 
Self resolution           
Attempts to resolve a dispute before lodging an application. Self-resolution is compulsory for all applications.
Specialist adjudicator          
A professionally qualified, independent decision-maker who determines adjudication applications, particularly complex disputes, under the BCCM Act. Appointed by the commissioner at the request and with the agreement of the parties to the dispute.
Submission   
Written comments on an application made by a person invited to make a submission. Submissions cannot be confidential.
Withdrawal   
A request by an applicant not to proceed with an application. An application must be withdrawn in writing.
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Property 101: Glossary of Queensland's strata dispute resolution terms

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Minutes of the August monetary policy meeting of the Reserve Bank Board

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Pellicano and Perri Projects have announced $190m in sales across the first three buildings at the $600m masterplanned Woolloongabba precinct, in Brisbane's South City Square. 
Construction of the first two sold out towers is moving ahead with basement excavation of the third building starting soon.
Nando Pellicano, Pellicano managing director,  said they have just sold the 370th apartment from a total of 398 apartments across the first three residential buildings, including 80 percent of apartments in the latest third release.
“We’re also 12 months ahead of the original construction program schedule," he said.
"This success indicates a stable market in which buyers are showing a preference for well-planned, amenity- rich developments of a high architectural standard." 
David Scalzo, Perri Projects’ managing director,  said Woolloongabba has undergone a period of intense gentrification in recent years and South City Square is set to become a key part of this process, delivering a truly liveable, productive and sustainable community which has been designed with the future in mind.”
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When complete, the precinct will feature seven architecturally designed buildings – six residential towers and one 5-star hotel.
South City Square is located on the corner of Logan Road and Deshon Street, positioned less than a three-minute walk from the Gabba and a seven-minute drive from the CBD.
For more information <a href="https://www.southcitysq.com.au%20" target="_blank">click here</a>.
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South City Square announces $190m in sales

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GUEST OBSERVERS
The RBA minutes suggest a higher degree of uncertainty around the Bank’s outlook, with board members concerned about the labour market, potential negative feedback from the housing market into the CPI, and the effect of easy international monetary policy on the exchange rate.
While we still expect the RBA to keep the cash rate on hold at 1.5 percent as it assess the impact of the May and August rate cuts, we continue to see the risks as tilted firmly to the downside.
DETAILS
The RBA remains more than usually uncertain about the labour market. “Members noted that there continued to be considerably uncertainty about momentum in the domestic labour market and the extent to which domestic inflationary pressures would rise over the next few years.”
These concerns relate to the degree of slack currently in the labour market, with measures of underemployment suggesting that overall labour underutilisation remains high. Moreover, the Bank is concerned that while the expansion of LNG export capacity will make a significant contribution to growth over the coming years, its low labour intensity will not see a similar boost to employment.
The Board is concerned about a negative feedback loop from housing into inflation. The minutes note that the risk of housing oversupply was “important for the inflation outlook because housing costs make up a significant share of the CPI basket”.</div>
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<div class="column">The pressure on housing costs as measured by the CPI is likely to come through in both rents, which are barely growing, as well as new house purchase costs. Together, rents and new house prices make up 16 percent of the inflation basket and are the two largest components of the CPI.</div>
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 The impact of international monetary policy on the exchange rate continues to be a bugbear. The Board noted that “changes to expectations about central banks’ policies continues to have an important influence on global exchange rate developments”, after acknowledging that a rate risk in the US was not priced in until late 2017 and further easing was likely in Europe and the UK.</div>
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<div class="column">They reiterated the comment that “an appreciating exchange rate could complicate the necessary economic adjustments”.</div>
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 OUTLOOK</div>
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 While the minutes did not include any explicit forward guidance, we think that the RBA retains a strong easing bias. With inflation set to remain below or at the bottom of the Bank’s 2-3 percent target band for the entire forecast period, we expect that the easing bias is quite strong, particularly when banks passed on only half the August rate cut to variable home loan customers.</div>
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 Our central case is that the cash rate will remain unchanged at 1.5 percent, but we see a clear risk of further easing given the low inflation outlook, where there is a lack of drivers for a meaningful pickup in prices.</div>
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 We think that the RBA will want to assess the impact of the May and August cuts on the labour market and housing market, while inflation data come into play when the Q3 CPI is published on 26 October. The exchange rate also will continue to be an important input into monetary policy deliberations given that it appreciated after the August rate cut and is near the high reached in April. 
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<div class="column">Felicity Emmett co-head of Australian economics, ANZ Research and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/felicity-emmett/5a/3ba/256" target="_blank">here</a>.</div>
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<div class="column">Kieran Davies is an economist for ANZ and can be contacted <a href="https://www.anz.com/personal/" target="_blank">here</a>.</div>
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Uncertainty reigns in August RBA board minutes: ANZ 

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Consumers should not expect the recent variable rate cuts to last for long, a mortgage industry veteran, 1300 HomeLoan managing director John Kolenda says.
He expects many lenders to reprice sometime this year as the current margins are unsustainable with the additional costs banks are facing along with the pressures of return on equity for their shareholders, Kolenda said.
Kolenda said consumers can at least count on interest rates to stay low for the foreseeable future.
Some 17 more lenders have passed on the interest rate cut, according to finder.com.au.
This includes online banks who have cut interest rates from between 10 to 15 basis points.
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Variable rate cuts will not last long: John Kolenda

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In Queensland’s Bundaberg region you could buy land in a new estate and build the home of your choice within reach of the ‘lazy half million’ dollars, say valuation firm Herron Todd White in their July 2016 residential market report which analyses the property sector in the sub $500,000 range.
One can build a four-bedroom, two-bathroom home with a two-car built in garage at that price, the report claims. 
“Or if you prefer some more extras you could buy a three-to-four year old established home with a pool and a shed. Prices are steady and have been for the past few years,” say HTW. 
There have been a couple of sales of triplex properties or four at buildings that have been in the $500,000 to $600,000 range with returns around 6% to 7% for a mid 1990s brick complex. 
“If units are your thing, you could buy two two-bedroom units approximately 10 years old.” 
In short, the Bundaberg region is still a great place to live with great affordability for housing. 
Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+central-122819314" target="_blank">1 McIlwraith Street Bundaberg Central Qld 4670</a> that recently sold for $155,000.
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Build a home of your choice for $500,000 in Queensland’s Bundaberg: HTW

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<img src="https://counter.theconversation.edu.au/content/63382/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Solar households in Victoria, South Australia and New South Wales will this year cease to be paid for power they export into the electricity grid.
In South Australia, some households will lose 16 cents per kilowatt-hour (c/kWh) from September 31. Some Victorian households will lose 25 c/kWh, and all NSW households will stop receiving payments from December 31.
These “feed-in tariffs” were employed to kick-start the Australian solar photovoltaic (PV) industry. They offered high payments for electricity fed back into the grid from roof-mounted PV systems. These varied from state to state and time to time.
For many householders, these special tariffs are ending. Their feed-in tariffs will fall precipitously to 4-8 c/kWh, which is the typical rate available to new PV systems. In some cases households may lose over A$1,000 in income over a year.
But while the windback may hurt some households, it may ultimately be a good sign for the industry.
<h2>What can households do?</h2>
At present, householders with high feed-in tariffs are encouraged to export as much electricity to the grid as possible. These people will soon have an incentive to use this electricity and thereby displace expensive grid electricity. This will minimise loss of income.
Reverse-cycle air conditioning (for space heating and cooling) uses a lot of power that can be programmed to operate during daylight hours when solar panels are most likely to be generating electricity. The same applies to heating water, either by direct heating or through use of a heat pump. For heating water, solar PV is now competitive with gas, solar thermal and electricity from the grid.
Batteries, both stationary (for house services) and mobile (for electric cars), will also help control electricity use in the future.
<h2>A boost for the industry?</h2>
The ending of generous feed-in tariffs is likely to modestly encourage the solar PV industry. This is because many existing systems have a rating of only 1.5 kilowatts (kW), which could not have been increased without loss of the generous feed-in tariff.
Many householders will now choose to increase the size of their PV system to 5-10kW – in effect a new system given the disparity in average PV sizing between then and now.
A new large-scale PV market is also opening on commercial rooftops. Many businesses have daytime electrical needs that are better matched to solar availability than are domestic dwellings.
This allows businesses to consume the large amounts of the power their panels produce and hence minimise high commercial electricity tariffs. The constraining factors in this market are often not technical or economic, and include the fact that many businesses rent from landlords and tend to have short terms for investment. Business models are being developed to circumvent these constraints.
The rooftop PV market also now has large potential in competing with retail electricity prices. The total cost of a domestic 10kW PV system is about A$15,000. Over a 25-year lifetime this would yield an energy cost of 7 c/kWh.
This is about one-quarter of the typical Australian retail electricity tariff, about half of the off-peak electricity tariff, and similar to the typical retail gas tariff. Rooftop PV delivers energy services to the home more cheaply than anything else and has the capacity to drive natural gas out of domestic and commercial markets.
According to the Australian Bureau of Statistics, there are 9 million dwellings in Australia, and the floor area of new residential dwellings averaged 200 square metres over the past 20 years. Some of these dwellings are in multi-storey blocks, others have shaded roofs and, of course, south-facing roofs are less suitable than other orientations for PV.
However, if half the dwellings had one-third of their roofs covered in 20 percent efficient PV panels then 60 gigawatts (GW) could be accommodated. For perspective, this would cover 40 percent of Australian electricity demand. Commercial rooftops are a large additional market.
<h2>Solar getting big</h2>
Virtually all PV systems in Australia are roof-mounted. However, this is about to change because ground-mounted PV systems are becoming competitive with wind energy. We can see the falling cost of solar in the Queensland Solar 120 scheme, the Australian Capital Territory wind and PV reverse auctions and the Australian Renewable Energy Agency Large Scale Solar program , which all point to the declining cost of PV and wind.
Together, wind and PV constitute virtually all new generation capacity in Australia and half of the new generation capacity installed worldwide each year.
The total cost of a 10-50 megawatt PV system (1,000 times bigger than a 10kW system) is in the range A$2,100/kW (AC). A 25-year lifetime yields an energy cost of 8 c/kWh. This is only a little above the cost of wind energy and is fully competitive with new coal or gas generators.
Hundreds of 10-50MW PV systems can be distributed throughout sunny inland Australia close to towns and high-capacity powerlines. Australia’s 2020 renewable energy target is likely to be met with a large PV component, in addition to wind.
Wide distribution of PV and wind from north Queensland to Tasmania minimises the effect of local weather and takes full advantage of the complementary nature of the two leading renewable energy technologies.
The declining cost of PV and wind, coupled with the ready availability of pumped hydro storage, allows a high renewable electricity fraction (70-100 percent) to be achieved at modest cost by 2030.
Andrew Blakers professor of engineering, Australian National University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/andrew-blakers-3328" target="_blank">here</a>.
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Solar households to lose subsidies, but it’s a bright future for the industry

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GUEST OBSERVER
The minutes of the August monetary policy meeting of the Reserve Bank Board, in which it reduced the overnight cash rate by 25bps to 1.5 percent, provided little in the way of additional insight around the Bank’s forward view.
With the Governor’s decision statement released on the day, the Bank’s full Statement on Monetary Policy (SoMP) released a few days later and a speech from the outgoing RBA Governor since the decision, the minutes are mostly of interest for any additional detail they may provide on the decision rationale and points picked up in the Board’s discussion.
The ‘Considerations for Monetary Policy’ section sets out the rationale and largely restates the Governor’s decision statement but with a couple of minor tweaks.
One of these is picking up a phrase we had noted from the SoMP that “[members] observed that while prospects for growth were positive, there was room for stronger growth, which could be assisted by lower interest rates.” In contrast to its slightly ambiguous usage in the August SoMP, the phrase in the minutes is simply used as part of the explanation of the August rate cut decision rather than anything that might be construed as explicit forward guidance.
The other slight change – nuance perhaps – was around the description of the inflation outlook. The minutes state: “Underlying inflation was expected to remain low for a time before picking up gradually as spare capacity in labour and many product markets diminished.” This is a slightly different colour to the Bank’s straight numerical forecasts which have underlying inflation lifting from 1½ percent in 2016 to 2 percent (mid-point of 1½-2½ percent range) by June 2017 holding at 2 percent thereafter.
The ‘gradual pick up’ suggests a little more ‘shape’ to the outlook beyond 2017 perhaps alluding to a return to the target range beyond the forecast horizon of December 2018. Certainly ‘tone-wise’ it’s a bit different to the phrasing in the SoMP overview which noted that “inflation is likely to remain below 2 per cent over most of the forecast period”.
The central rationale for the August move was set out as per previous communication: expectations around external conditions and growth were little changed but the weaker trajectory for inflation had been confirmed and with room for stronger growth and risks around household sector leverage seen as diminished, a further rate cut was viewed as improving prospects for sustainable growth and inflation returning to target.
Comments attributed specifically to ‘members’ highlighted areas of uncertainty or concern within the Board including: “…considerable uncertainty about momentum in the domestic labour market and the extent to which domestic inflationary pressures would rise over the next few years”; that for a forecast gradual rise in household consumption “there was some uncertainty about whether households would respond to developments affecting their disposable incomes by adjusting consumption growth or altering their saving rates.”; and that the “very high levels” of dwellings under construction “had increased the risk of oversupply in parts of the country”.
Around financial markets, members noted that ‘Brexit’ volatility had subsided but that market pricing for the Fed did not have another rate rise priced until late 2017. On the AUD, the minutes repeat the exact same wording that “an appreciating exchange rate could complicate” the support coming from low interest rates and previous exchange rate depreciation.
Conclusion
Having cut rates in August, the RBA is clearly in ‘watch and see’ mode. In contrast to the Jun-Jul ‘hiatus’ the Bank will not only be interested in growth and inflation developments but will now also be trying to gauge the impact of its May and Aug moves.
The Board is almost certain to keep rates on hold in September. However we continue to view the Reserve Bank as carrying an easing bias – implicit in its inflation forecasts and in our view in much of its rhetoric. However, we expect that downside risks around economic conditions will diminish sufficiently in coming months to see the Bank retain a more patient approach to its inflation objective. Accordingly we expect that the Bank will keep rates on hold over the remainder of 2016 despite an apparent easing bias.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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