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.

&nbsp;

&nbsp;

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.

&nbsp;

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> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

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>

&nbsp;

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?

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">Low and falling investment yields from most major asset classes point to a constrained medium term return outlook. For a diversified mix of assets, this has now fallen to around 6.9 percent on our projections.</div>
<div class="column">
 For investors the key is to: have realistic return expectations; allow that inflation is also low so real returns aren’t down as much; focus on asset allocation; and focus on assets with decent &amp; sustainable income.</div>
<div class="column"> </div>
<div class="column">Introduction</div>
<div class="column"> </div>
<div class="column">While the high inflation of the 1970s and early 1980s was bad for investment returns at the time, it left a legacy of very high investment yields which helped set the scene for high investment returns through the 1980s and 1990s. Back in the early 1980s the RBA's "cash rate" was averaging around 14%, 3 year bank term deposit rates were around 12%, 10 year bond yields were around 13.5%, commercial and residential property yields were running around 8-9% and dividend yields on shares were around 6.5% in Australia and 5% globally. Such yields meant investments were already providing very high cash income. So for assets like property or shares only modest capital growth was necessary to give good returns. As a result, back then the medium term (5-10 year) return potential from investing was solid. In fact most assets had spectacular returns in the 1980s and 1990s. Australian superannuation funds saw returns average 14.1% pa in nominal terms and 9.4% pa in real terms between 1982 and 1999 (after taxes and fees). </div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.14.36%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.14.36%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
But since the early 1980s the starting point in terms of investment yields has been moving progressively lower, resulting in slowing 10 year average nominal and real returns for superannuation funds as seen the chart above. Today the RBA cash rate is just 1.5 percent, 3 year bank term deposit rates are just 2.6-3 percent, 10 year bond yields are just 1.9 percent, gross residential property yields are around 3 percent and while dividend yields are still around 6 percent for Australian shares (with franking credits) they are around 2.5 percent for global shares. This note looks at the medium term return potential from major assets and the implications for investors. 
Potential return drivers
In getting a handle on potential medium term returns from an asset class the key is its starting point valuation. For example, if current yields – say bond yields and dividend yields – are lower than “normal” then this will likely constrain returns relative to the past. Investment returns have two components; capital growth, and yield (or income). The yield is the most secure component and generally speaking, when you start your investment the higher it is the better. So our approach to assessing medium term return potential is to start with current yields for each asset class and apply simple and consistent assumptions regarding capital growth. We prefer to avoid a reliance on forecasting and to keep the analysis as simple as possible. Complicated adjustments just lead to compounding forecasting errors. 
For equities, a simple model of current dividend yields plus trend nominal GDP growth (as a proxy for earnings and capital growth) does a good job of predicting medium term returns. This approach allows for current valuations (via the yield) but avoids getting too complicated.1 The next chart shows this approach applied to US equities, where it can be seen to broadly track big secular swings in returns. 
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
 <a href="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.17.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.17.56%20AM.png" alt="">
</div>
</div>
</div>
For property, we use current rental yields and likely trend inflation as a proxy for rental and capital growth.
For unlisted infrastructure, we use current average yields and capital growth just ahead of inflation. 
For bonds, the best predictor of future medium term returns is the current bond yield. If a 10 year bond is held to maturity its initial yield will be its return over 10 years. The close relationship between 10 year bond yields and subsequent returns from bonds is clear in the next chart. 
</div>
</div>
</div>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<a href="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.19.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.19.43%20AM.png" alt="">
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
Projections for medium term returns
Return projections using this approach are shown in the next table. The second column shows each asset’s current income yield, the third shows their 5-10 year growth potential, and the final column their total return potential. Note that:
We assume central banks average around or just below their inflation targets, e.g. 2.5 percent in Australia &amp; 2 percent in the US.
For Australia we have adopted a relatively conservative growth assumption below nominal GDP growth potential reflecting the headwind from weak commodity prices &amp; the impact of this on resource sector profits &amp; sales growth.
We allow for forward points in the return projections for global assets based around current market pricing – which adds 1.8 percent to the return from world equities.
The Australian cash rate is assumed to average 2.75 percent over the medium term. Cash is one asset where the current yield is of no value in assessing the asset’s medium term return potential because the maturity is so short. So we assume a medium term average. Normally for cash this would be around a country’s potential nominal growth rate, but we have adjusted for higher than normal bank lending rates relative to the cash rate and higher household debt to income ratios which have pulled down the neutral cash rate.
Combining the return projections for each asset indicates that the implied return for a diversified growth mix of assets has now fallen to 6.9 percent pa and is shown in the final row. 
<a href="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.21.50%20AM.png" target="_blank">Click to enlarge</a>
</div>
</div>
<div class="layoutArea">
<div class="column">
<img src="/images/2016/08/16/Screen%20Shot%202016-08-17%20at%208.21.50%20AM.png" alt="">
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
Megatrends influencing the growth outlook
Several themes are allowed for in our projections: slower growth in household debt; the backlash against economic rationalist policies of globalisation, deregulation and small government; rising geopolitical tensions; aging and slowing populations; low commodity prices; technological innovation &amp; automation; the Asian ascendancy &amp; China’s growing middle class; rising environmental awareness; &amp; the energy revolution. Most of these are constraining nominal growth and hence investor returns. However, technological innovation is positive for profits and some of these point to inflation bottoming. (See “Megatrends ”, Oliver’s Insights, July 2016. 
Key things to note 
Several things are worth noting from these projections. 
The medium term return potential using this approach continues to soften largely reflecting the rally in most assets of the last few years which has pushed investment yields lower. Projected returns using this approach for a diversified growth mix of assets has fallen from 10.3% pa at the low point of the GFC in March 2009 to 6.9% now. 
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%208.25.44%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%208.25.44%20AM.png" alt="">
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
The starting point for returns today is far less favourable than when the last secular bull market in shares and bonds started in 1982, due to much lower yields.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Government bonds offer low return potential thanks to ultra low bond yields.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Unlisted commercial property and infrastructure continue to come out well, reflecting their relatively high yields.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Australian shares stack up well on the basis of yield, but it’s still hard to beat Asian shares for growth potential.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
The downside risks to our medium term return projections are referred to endlessly by financial commentators: namely that the world is plunged into another recession or that investment yields are pushed up to more normal levels causing large capital losses. The upside risks are (always) less obvious but could occur if global growth improves but inflation remains low which could see a continuing search for yield further pushing up capital values.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Implications for investors
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
There are several implications for investors:
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
First, have reasonable return expectations. The combinatinofof low investment yields &amp; constrained GDP growth indicate it’s not reasonable to expect sustained double digit returns. In fact, the decline in the rolling 10 year moving average of superannuation fund returns (first chart) indicates we have been in a lower return world for many years.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Second, allow that this partly reflects very low inflation. Real returns haven’t fallen as much and are still reasonable. 
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Third, using a dynamic approach to asset allocation makes sense as a way to enhance returns when the return potential from investment markets is constrained. This is likely to be enhanced by continued bouts of volatility.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"></a>
Finally, focus on assets providing decent sustainable income as they provide confidence regarding future returns, eg; commercial property and infrastructure. 
<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.
</div>
</div>
</div>
</div>
</div>
</div>
 
</div>
</div>
</div>
 
</div>
</div>
</div>
 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

The constrained medium term investment return outlook: AMP's Shane Oliver

<html><body>
GUEST OBSERVER
Australian car manufacturers are closing. Ford is closing in October this year. Toyota and Holden are to quit manufacturing in Australia by the end of 2017.
That means that from 2017, Australia will not have a local car manufacturing industry. This will especially impact on companies that make parts for new cars.
One aspect that has not been discussed among the many forthcoming hardships, is the impact on industrial property owners. The suburbs of Melbourne will be hard hit, especially the Northern Suburbs.
Opinions vary as to the number of businesses in the automotive component manufacturing industry but all agree that it is a large number. Many of which are located in Melbourne’s outer suburbs. Administrators appointed to one component manufacturer claims there are 150 firms nationally while Ibis Research says there are 882 businesses. Government committees have relied on automotive aftermarket association membership of 260 as their number.
Many component suppliers’ premises are setup for manufacturing and have limited alternative uses. While there is an ongoing demand for warehouse and distribution industrial properties, these component supplier premises are not considered as they usually lack the necessary high ceiling and high clearance entrance required for storage stacking and large vehicle access.
<h1 style="text-align: left;" align="center">Figure 1. Declining Industrial while Retail and Office do strong </h1>
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%201.12.09%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%201.12.09%20PM.png" alt="">
The effect on industrial property will happen sooner than we think. In fact, it’s happening now.
The Commercial Property Guide Asking Price Index (API) shows a steady decline in the rent that real estate agents are seeking for their clients’ industrial properties. This contrasts with a healthy increase over recent times for office and retail commercial space.
The industrial property rental asking price has been in a decline since November 2015 (see figure 1.). In May 2016 the asking price for industrial property rents have decreased 1.0 percent in the past three months. In the last two months (June and July) industrial rents have found a new lower level. One area that has been particularly hard hit is the Inner Northern suburbs of Melbourne where demand for logistics and warehouse properties does not appear to have offset the effect of factory rents decreases. Table 1. Shows the last six month changes.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="75">
Feb
</td>
<td valign="top" width="75">
Mar
</td>
<td valign="top" width="75">
Apr
</td>
<td valign="top" width="75">
May
</td>
<td valign="top" width="75">
June
</td>
<td valign="top" width="75">
July
</td>
</tr>
<tr>
<td valign="top" width="75">
-3.08
</td>
<td valign="top" width="75">
-1.23
</td>
<td valign="top" width="75">
-3.23
</td>
<td valign="top" width="75">
-3.08
</td>
<td valign="top" width="75">
-3.26
</td>
<td valign="top" width="75">
-1.78
</td>
</tr>
</tbody></table>
 
Table 1. Change over the previous 3 months for Inner Northern Melbourne Industrial Property
With domestic vehicle manufacturing to cease by 2017, the Victorian Government has launched a funding program “Towards Future Industries: Victoria’s Automotive Transition Plan”, to assist businesses, employees and communities to capitalise on opportunities and provide support to those affected.
One group not eligible for direct assistance are factory owners of premises where component manufacture will stop.
The Commercial Property Guide API is starting to tell the story of these parts makers. There is considerable lead-time required to transition out of car parts to a new opportunity. As well as the much discussed unemployment and economic impact, the unintended consequences on commercial property owners is just beginning to be felt.
Simon Rose is chief executive officer, Commercial Property Guide and can be contacted <a href="https://www.commercialpropertyguide.com.au" target="_blank">here</a>.
 
</body></html>

Real estate early-warning radar for end of car manufacturing

<html><body>
Sentinel Property Group has sold off the Jimboomba Junction Shopping Centre in Queensland’s Logan City for $27.48 million in an off-market deal, continuing with its recent divestment of assets.
The Coles-anchored neighbourhood shopping centre at 665-687 Cusack Lane services the rural township of Jimboomba in Logan City, midway between Brisbane and the Gold Coast.
Sentinel acquired the site in September 2014 for $20 million and the current deal follows on the heels of its sale of an industrial property at Richlands in Brisbane for $15.75 million.
The Jimboomba deal was brokered by Jacob Swan of JLL.
The property consists of five separate buildings with a total net lettable area of 5,949 sqm and 281 carparks. Tenants include Coles, The Reject Shop, Amcal, Caltex, Red Rooster, Brumby’s Bakery, Zarraffas Coffee plus 13 specialty retailers and professional suites.
Sentinel managing director Warren Ebert said it was a great result for its investors. 
“Investors in the Sentinel Jimboomba Retail Trust have enjoyed two years of consistent returns of 10% per annum paid monthly and now also benefit from a strong capital return on divestment,” he said.
“There is a time to buy and a time to sell and we will continue to review all opportunities to deliver attractive capital growth to our investors,” Ebert said. “We have bought very well in what were unloved sectors at the time but are now back in favour. As a result, we are receiving a number of unsolicited offers to acquire our strongly performing assets.”
Ebert said Sentinel was also exploring a number of potential acquisitions in the retail, industrial and office sectors nationally, in line with its investment criteria.
Brisbane-based Sentinel has more than 600 investors nationally who receive monthly returns from rental income, as well as special capital return payments on revaluations and capital growth returns on divestment.
Established in 2010, Sentinel (<a href="https://www.sentinelpg.com.au/">www.sentinelpg.com.a</a>u.) is among Australia’s top unlisted commercial property fund managers, with a portfolio of 43 retail, industrial, office, land, tourism and agribusiness assets valued at more than $1 billion.
It has occupied the No. 1 spot on the PCA/IPD (Property Council of Australia/Investment Property Databank) Non-Core Property Fund Index 42 of the last 49 months.
The index, introduced in October 2011, is backed by the global equity indexes of Morgan Stanley Capital International (MSCI) and is based on total fund performance.
</body></html>

prateek24-ezbwHMbNAk

Sentinel sells Jimboomba retail centre in Logan City for $27.48 million

<html><body>
Childcare operator Greenwood Early Education Centres is set to open 180 childcare spaces across two centres in Central Park's urban village in Sydney's Chippendale.
The first centre will be located within the DUO towers located on Broadway, the second centre will be located within Wonderland an O’Connor and Wellington Streets, and is scheduled to open in late 2018. 
Both will have the capacity for 90 children.
Frasers Property will oversee the design and fit out the two childcare centres with SJB Architecture. Development Applications are to be lodged for the two centres later this year.
Mick Caddy, Central Park’s project director said the addition of two major childcare centres will see the delivery of a significant masterplan commitment for the precinct, providing significant amenity for residents, commercial tenants and locals alike.
“Frasers Property and Sekisui House are delighted to be delivering two new Greenwood Early Education Centres at Central Park which will be a welcomed new amenity to residents as well the wider inner-city community.
“Providing 180 childcare spaces across two centres, Central Park will be host to one of the city’s most significant childcare hubs within the Sydney CBD.
“Families living in and around Central Park or parents working in Chippendale will have the convenience of being able to place their children in childcare within the locality in which they live – meeting the demands of busy, professional parents.”
Sam Benjamin, managing director of Greenwood Early Education Centres said Greenwood recognises the importance of language development and physical activity for young children.
"As such, their centres incorporate extra-curricular activities including yoga, gardening, music, sport, art, well-being and pre-kinder programs featuring numeracy and literary concepts."
For more information click <a href="https://www.centralparksydney.com" target="_blank">here</a>.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Greenwood Childcare to open two new centres at Central Park

<html><body>
A shopping centre at Helensvale near Surfers Paradise has sold for $9.85 million to a private investor on a tight yield of 6.7 percent through Savills.
Monterey Keys Shopping Village’s tenants include a mix of food, service and medical stores, including an IGA Supermarket and Jetts Fitness outlet.
The sale was brokered by Peter Tyson and Jon Tyson of Savills Retail Investments following an expressions of interest campaign. 
Located at 175 Monterey Keys Drive at Helensvale, the single-level centre comprises two buildings set on a 9,961 sqm site, with the current gross lettable area of nearly 2,000 square metres representing a low site cover of circa 20 percent.
“This sale continues a strong run of retail sales on the Gold Coast and highlights the increasing demand from investors seeking yield in a low interest rate environment,” said Tyson.
</body></html>

Gold Coast convenience centre sells for $9.85 million on tight yield

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Construction company Hindmarsh's Adelaide, Bowden development The Bowery is almost completely sold out as construction reaches its highest structural point of seven storeys.
Hindmarsh has sold 52 of the 54 apartments at The Bowery ahead of its 2017 completion.
The remaining apartments feature two bedrooms, two bathrooms and a car space, priced from $465,000.
Morry Canala, Hindmarsh SA development manager said the diverse mix of future residents at The Bowery, including singles, couples, downsizers and more, will add to the renewed urban character of Bowden. 
“We’ve placed a specific emphasis on the design aspects at The Bowery to ensure it meets the high standards expected by our customers while also having sophisticated, enduring aesthetic appeal," he said.
"As such the apartments have attracted a variety of buyers to add to the rich social fabric of the changing Bowden community.
The Bowery fronts Sixth Street and overlooks Kevin Taylor Park.
For more information, <a href="https://www.thebowerybowden.com.au/" target="_blank">click here</a>.
 
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Adelaide's The Bowery reaches new heights

<html><body>
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.
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.31%20AM.png" alt="">
 
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.41%20AM.png" alt=""> 
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.32.47%20AM.png" alt="">
</body></html>

17 more lenders pass on cut following cash rate cut

<html><body>
The requirement that the agency agreement for the sale of a NSW residential property by private treaty, state the price at which the property is to be offered for sale applies from 15 August 2016.
The requirement was previously removed as it was considered that the recent underquoting law reforms in the Act made this requirement redundant. However, stakeholders asked for this requirement to be reinstated. This was to reinforce the importance of clarifying the offer price for the seller and agent, and may help prevent underquoting. This ‘price offer’ information may also be useful for NSW Fair Trading when investigating claims of underquoting.
Following consultation with industry stakeholders, the following ‘price offer’ requirement is reinstated. It applies to agency agreements for the sale of a residential property:
If the agreement provides for the property to be offered for sale by private treaty, the agreement must specify the price at which the property is to be offered.
Agents who are using an agency agreement for the sale of residential property, on or after 15 August 2016, should check that the offer price term is in the agreement. If not, they should insert the term in the agreement and have the agent and seller each initial and date the insertion.
This requirement is included in clause 5 in Schedule 8 of the 2014 Regulation. 
</body></html>

Property 101: NSW private treaty agency agreement price offer disclosure

<html><body>
<img src="https://counter.theconversation.edu.au/content/63275/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Pet owners grapple with rental insecurity, new research shows. Despite the popularity of pet ownership across countries such as Australia (where 63 percent of households include a pet), the United States (62 percent) and United Kingdom (46 percent), rental policy rarely recognises pets as important members of households. Instead, landlords and property agents typically restrict the right to keep pets.
Reports from animal welfare organisations suggest these policies make it difficult for pet owners to find rental housing. There is also evidence of connections between rental insecurity and poor animal welfare outcomes.
Research shows that insecure housing, including difficulties finding pet-friendly rental properties, is a key factor driving people to relinquish their pets.
<h2>The ‘no pets’ clause</h2>
My research shows that pet ownership can trigger feelings of housing insecurity for renter households. The research involved an open survey with 679 households that had rented with pets in Sydney, as well as 28 in-depth interviews.
The majority of survey respondents rated finding pet-friendly housing in their suburb as difficult. They perceived that it became more difficult to find rental properties after they acquired their pet.
About half of those who always declared their pets when they applied for properties had been given pet ownership as the reason their application was rejected. These figures are likely to represent only a small proportion of those who have been rejected for pet ownership as reasons for rejection are rarely provided.
The competitive nature of Sydney’s rental market, which gives real estate agents a larger pool of tenants to choose from, was believed to have increased the challenge. A small number of households had even been offered rental housing if they got rid of their pet. These experiences led to a sense of rental insecurity and feelings of stress when participants wanted or needed to move house.
<h2>Compromising on quality, cost and location</h2>
In the in-depth interviews, households were asked how they found their current rental property. They explained how long lists of available rental properties would disappear when the “pet-friendly” filter was activated on popular property search websites.
There was also a widespread perception that advertised pet-friendly housing was of a lower quality than housing that did not allow pets. Many described making compromises on property quality and cleanliness. Some purposefully chose less desirable properties to increase their chance of success.
For example, one participant stated:
"I think they call them ‘pet friendly’ because they don’t really care what happens to them. They’re probably going to pull them down eventually."
Another explained:
"It was quite heartbreaking when you looked at the properties, because they were pretty much all rundown and disgusting. Really sort of dark and dingy, bathrooms that you would see were, I suppose, just not up to scratch. Or houses that seriously probably haven’t had a lick of paint or anything done to them in 20, 30 years."
Households also made compromises on property location and cost. These choices led to feelings of housing stress. For some it meant living in housing they considered sub-standard, including properties that were unclean or located in undesirable or unsafe areas. A number accepted longer work commutes or greater financial stress to secure a property.
As one interview participant put it when explaining why they stayed in a neighbourhood they didn’t like:
"My car is on the street and it’s been broken into several times and there are a few personal safety issues but they let me have the cat, so …"
The vast majority of pet owners declared some or all of their pets when applying to rent a property. Those who had previously been rejected for a property because they had a pet were less likely to declare their pets. Why take this risk?
In-depth interviews suggest that renter households were extremely concerned about housing security: they valued their rental property and wanted to live in it as long as they could.
However, some felt that they could secure a property only if they didn’t declare their pets. Despite finding it extremely stressful to live in a rental property without permission to kept their pets, these households risked eviction so they could find somewhere to live with their pets.
<h2>Are landlords' fears justified?</h2>
Tenant experiences in the research suggest that landlords are concerned about the risks to their properties that pets might bring.
Sometimes these concerns are based on real experience. However, there is some evidence to suggest that landlord fears are just that.
In one US study, for instance, 63% of landlords who were concerned about pets in their properties didn’t have any firsthand experience of the problems they identified. Further, when damage did occur it was “far less than the average rent or the average pet deposit”.
<h4> </h4>
Indeed, somewhat counter-intuitively, having a pet-permitting lease may provide more protection for landlords than simply restricting pets. Pet-friendly leases do not mean all pets are automatically allowed. Landlords can ask for a “pet CV” as well as references for the pet, such as from a local vet, neighbours or former landlord. This is a way of ensuring the pet applicant is appropriate to the property.
Some jurisdictions in Australia allow for special provisions such as for carpets to be steam-cleaned if an animal such as a cat or dog lives at the property. In others, such as in the US and some states in Australia, an additional pet bond can be charged to cover any potential damage.
A pet-friendly lease may even bring benefits. US research suggests that households with pets stayed in rental properties longer than those that did not have pets. This brings longer-term, more secure rent to property owners. These factors are worth weighing up when landlords are making property management decisions.
Emma Power is senior research fellow, Geography and Urban Studies, Western Sydney University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/emma-power-250930" target="_blank">here</a>.
</body></html>

Perhaps landlords should think again, as pet owners suffer rental insecurity

<html><body>
<img src="https://counter.theconversation.edu.au/content/63938/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Six Australian universities made the top 100 best global research institutions in the 2016 Academic Ranking of World Universities (ARWU), released today – two more than the previous year.
Monash University and the University of Sydney were the two newcomers to the top 100 club, joining Melbourne, Queensland, Western Australia and Australian National University.
More than half of Australia’s public universities now feature in the world’s best 500 research institutions.
This year marks a change in the methodology to the ARWU rankings, which is based purely on a university’s research performance.
“The ARWU is noted for the stability of its methodology, which means that normally, unless an institution won a Nobel Prize or recruited a large number of Highly Cited Researchers, large movements did not occur,“ said Natalie Mast, associate director for performance analytics at the University of Western Australia.
“The main driver of movement this year has been a change in the methodology used to determine highly cited research criteria,” she said.
“Previously, ARWU utilised both the old and the new highly cited researcher lists, and this is the first year that only the new list was used.”
The old list included anyone who had been named a highly cited researcher up to 2011, and included publications going back to 1981. The new list, which was developed in 2014, is updated annually, and focuses on publications from the last decade.
Mast said: “This has allowed Chinese universities – Tsinghua and Peking – to break into the top 100 for the first time."
Within the ARWU rankings, 50% of the total score of an institution is determined by a small number of individuals, made up of Nobel Prize winners (staff and alumni) and highly cited researchers.
Mast noted: “The ARWU has traditionally favoured established universities, as Nobel Prizes awarded to alumni and staff, which can provide a value for up to 100 years, have a significant impact. By changing the highly cited research criterion, newer universities have an greater opportunity to rise in the ranking.”
“There had been agitation from ARWU and universities, which urged Thomson Reuters to clean the list. It was advantageous to older researchers because they had a longer body of work. Now it allows high-performing mid-career researchers to be classified as highly cited,” said Mast.
The rankings point to some interesting global trends. While older universities in Europe and the US seem to be falling in these rankings, those universities in Spain, China, South Korea and Australia are on the rise.
She added that, through increased investment, Chinese universities were likely to continue to improve in these rankings.
Mast noted that the rankings needed to be viewed in perspective. “The score assigned to an institution in the ARWU is a percentage of the top-ranked institution, which has always been Harvard. This year, the university ranked 100. The University of Utah, attained a score of 25.4.”
According to Tony Shiel, deputy director of the office for research at Griffith University, these results show that you get a consistently good university education in Australia.
“The rankings show that Australia has a good top end, and middle end, meaning that quality runs deeply across the sector,” said Shiel.
Western Sydney University and RMIT made the top 500 list for the first time – both have recently invested in research.
QUT, which now features in the top 300, wasn’t even in top 500 two years ago.
“There are a few making quick rise,” said Shiel. “Whether that continues or not will be interesting to see.”
“Research is important as it enhances the brand, which then in turn attracts international students,” said Shiel.
These rankings place Australia in a good position in a fast moving part of the world, he added.
“It positions us well to have better collaborations with Asian partners, especially in China, as we will be taken more seriously,” he said.
Howerver, Shield said these results were just another indicator and we should not place blind trust in these outcomes, no matter how positive.
Harvard, Standford and UC Berkeley universities gained the top three spots for being the best in the world at research.
While the US had 50 universities in the top 100, the UK featured the second highest with eight universities.
Claire Shaw is education editor, The Conversation and can be contacted <a href="https://theconversation.com/au/team#claire-shaw" target="_blank">here</a>.
</body></html>

Latest Expert Insights

Parcel delivery is joining the apartment amenity checklist

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Parcel delivery is joining the apartment amenity checklist

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News