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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Developers Abacus Property and Linear Group have introduced a limited number of penthouses, and terrace homes, for final release for the residential development One A Erskineville. 
Richard Crookes Constructions is the builder for One A. The project is now under construction and due for completion in 2017.
For more information, click <a href="https://www.onealiving.com.au%20" target="_blank">here</a>. 
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jonathanchancellor-7SQnKwU6yx

One A Erskineville set to demolish display suite after success sales campaign

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Western Sydney's residential development The Paper Mill, in Liverpool, has won the Meriton Excellence in Marketing award from The Urban Development Institute of Australia (UDIA).
Frost*collective was commissioned by developer Coronation to create a brand identity, strategic positioning and marketing campaign for The Paper Mill.
Coronation managing director Joseph Nahas said the changing face of south western Sydney, coupled with the opportunity to revitalise a long neglected riverfront location and opportunity to capture the historical features of the site, meant that our marketing campaign was always going to need to be something special.
“When we look at those who were also finalists for this award and the projects they have created, we are very proud of how Frost* has captured the essence of The Paper Mill and brought it to life –  and importantly how this has resonated with purchasers," he said.
Mirvac and UrbanGrowth NSW’s development, Ovo, in the Green Square Town Centre, (above) for which Frost*collective created a new brand and full marketing campaign – was announced as a runner up in UDIA’s Marketing Excellence award.
 
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Frost*collective's creative partnerships scores in property awards

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GUEST OBSERVER
“Record low interest rates”. This seems to be the headline of the year, having been used so many times it is hard to remember any other kind of interest rate. Each time we see this, expectations for another rate cut decrease momentarily, only to return to the same, pre-cut probability-levels after a few weeks. 
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Figure 1 paints a clear picture of a similar short-term outlook, yet weakening long-term expectations.
<a href="/images/2016/08/12/Screen%20Shot%202016-08-12%20at%209.45.34%20AM.png" target="_blank">Click to enlarge</a>
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While this graph does not include data since the rate cut (yields on 10 year treasuries have lifted a whopping 0.03 percent since the July levels shown in Figure 2), we can see almost identical movements at each maturity date from May to June and from June to July.
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Yields on 3 year bonds are down 0.05 percent, 5 year bonds are down 0.1 percent and 10 year bonds are down 0.2 percent. 
This is almost a textbook example of yield curve inversion. In fact, yields on 90 day treasury bills in June were identical to those on 10 year bonds at 1.93 percent. 
Other than perhaps transaction costs, there is no reason for an investor to take on the extra risk of longer term securities without any increase in expected return. 
The RBA had little choice but to cut rates again. 
Figure 2 shows a similar picture, with greater inversion in the short and medium-term (up until about 2022) and lower yields on long- term maturities. 
This is a dangerous combination. 
An interest rate cut effectively lowers the short-term cash rate (i.e. 90 day yield), which normalises (steepens) the yield curve.
In theory, this stimulates the economy by making borrowing cheaper and incentivising banks to borrow at the short-term rate and lend out at the higher long-term rate. If the curve continues to flatten out (as it did since the last rate cut in May) then this impact is almost entirely negated. Like a see-saw, rates will continue to decrease until long-term expectations increase or at least stabilise. 
For more information, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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jchancellor-FAypfDUnLy

Rates will continue to decrease: Secret Agent 

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GUEST OBSERVER
Breeze blocks are having a moment in the sun. Having been painfully hip in the architecture of the 1950s and 60s, they were used so extensively, in both houses and commercial buildings, that they became ubiquitous anywhere in the world where it was hot – including throughout Australia.
While particularly associated with a beachy, holiday feeling – Gold Coast motels, houses in Palm Springs – they were really so widely-used that they can still be found pretty much everywhere. But after that postwar high point, they fell drastically out of favour, and languished for the next fifty years, built into the walls and gardens of our youths, widely loathed and reviled for being ugly and out of date.
Now their fortunes have turned again and architects, for the moment at least, can’t get enough of them: at the 2016 Houses Awards, announced two weeks ago, the “Best house under 200 metres squared” went to the Naranga Avenue House, by James Russell Architect – a lovely minimal house with a tight, rigorous plan, which undoubtedly won the award because of its “skin of delicate breezeblocks,” described by the awards jury as having “a sublime, ephemeral quality.”
Likewise, one of last year’s most published dwellings was Architect Prineas’ Breeze Block House, which transformed a 1950s bungalow through the use of a crisp, white-painted breezeblock screen wall. Dividing and defining two indoor/outdoor courtyard spaces, this wall also gives the house a distinct character.
You only need to dip into the Instagram feed of Sydney architect Sam Marshall, aka @breezeblockhead, to see the architectural community (including me, I’ll admit) collectively drooling over the multifarious screens, walls, fences, stairwells, undercrofts, carports, and garden rooms that this versatile material lends itself to. Marshall has been collecting images of breezeblocks for sixteen years, and has more than nine thousand followers.
Meanwhile on Pinterest it’s fascinating to see patterns and shapes from other countries – some highly inventive and very beautiful, a long way from the one or two rather stolid designs that were standard in the Adelaide suburbs of my childhood.
Patterned concrete blocks have a long (and sometimes celebrated) lineage. Some people credit Frank Lloyd Wright with inventing them, and indeed he did invent a precast concrete “textile block” system, which he used on several houses in Los Angeles including the Millard and Ennis Houses.
Inspired by the ornamentation on Mayan temples, the relief patterns on Lloyd Wright’s blocks are only slightly reminiscent of what we in Australia would call a breeze block (or screen block, or pattern block, or cinder block) because they are much less permeable – really his is a wall system, rather than a screen one.
The breeze block can also be linked more broadly to the tradition of the brise soleil, which refers to any kind of sun baffle installed outside the skin of a building (which is where the sun screens should be! Stop the heat before it enters your building envelope!). Breeze blocks are not (usually) structural, hence they were often used where a garden meets a house – patio screens or carports or garden walls. In commercial buildings, they were often used for stairwells, balcony screening, and curtain wall sun-shading to large windows.
Right now we are in the midst of a resurgence of interest in postwar design: the wild popularity of all things <a href="https://en.wikipedia.org/wiki/Mid-century_modern">mid-century modern</a> (or mid-mod, or MCM) has spread beyond furniture and houses to materials, and the breeze block has been carried along on that tide.
It is of course a well-known strategy to take the most passe thing you can find and re-appropriate it, for shock value, and to jolt everyone into seeing it anew. But in the case of the breeze block it seems to me more than that – because these “concrete masonary units” (as they’re technically called) actually have qualities that don’t exist in other materials.
You can make permeable walls out of timber or sheet materials or even bricks, but you won’t get quite the same effect as breeze blocks provide: a durable screen which is private and secure, offers sun shading and weather protection and ventilation, and has the added bonus of being highly patterned with geometric ornament. Breeze blocks expand the architect’s repertoire and ability to manipulate the wall with different degrees of solidity and permeability, openness and enclosure. 
Plus, they’re pleasing to the eye. A breeze block screen wall can be a beautiful thing – the pattern of each individual block adding to a greater whole, and a larger pattern, when they’re used en masse.
Of course, I didn’t always see the beauty in a breeze block. In fact, I thought they were hideous; an irredeemably ugly vestige of another time, banal and styleless, they reminded me of everything I hated about suburbia. Partly it was their materiality – concrete blockwork can be hard to love, especially in its untreated forms, and breezeblocks are made of a particularly scratchy and drab variety. It’s no coincidence that many of the contemporary architects are choosing to paint theirs.
So what can we make of this resurgence, other than yet another spin on the wheel of architectural fashion? Building materials come and go; my childhood home in the late 1970s had faux venetian glass in the windows and timber shakes on the roof – the very height of style at the time. Likewise, at the moment there is a rash of rusted corten steel, and an eruption of laser-cut perforated metal screens, creeping over the buildings of our cities – these are very modish right now, but in a few years they will be testaments to the (past) time of their design and construction, as all buildings and materials inevitably are.
 
Because, in fact, architectural fashions are far more than just frivolous or superficial fancies, they can tell us a lot about the values and concerns of a building’s culture, in a particular location, at a particular time. This is why architectural historians are so interested in past “fashions” (we might also link them to movements, or schools, or ideologies) – because they can be highly revealing. Thus the more interesting story here is not so much fashion, but temporality – how a thing, or material, or building, reveals its being of its time.
This also leads to a danger, for so-called “middle aged” buildings: it’s a truism of the heritage professions that when a building is old enough to seem unstylish and dated, but not yet old enough to be valued as legitimately historical and worth preserving, then it is highly vulnerable to being demolished, or equally of being renovated to death. Young buildings are valued, and very old ones are too, but middle-aged buildings are exposed, and many good ones don’t make it.
Finally, though, in the return of the breeze block is a story about ornament. Many contemporary architects are exploring new modes of surface and material ornament, and it’s easy to see the return of the breeze block as part of this movement. The exploration, and valuation, of pattern, geometry, adornment and richness in the surface of buildings is very much A Good Thing. And so, all hail the breeze block: a material redeemed.
Naomi Stead is associate professor, The University of Queensland and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/naomi-stead-108029" target="_blank">here.</a>
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The return of the breeze block

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GUEST OBSERVER
This National Bookshop Day, Australia’s one-time Minister for Small Business, Nick Sherry, will be remembered for his words, not his deeds.
A reader, bookbuyer and enthusiastic patron of terrestrial bookshops, in June 2011 Sherry told a conference on online business that,
"In five years, other than a few speciality bookshops in capital cities, you will not see a bookstore. They will cease to exist."
Booksellers were livid, and I don’t just mean standing behind their counters muttering impolite thoughts about the minister down into their cardigans. They got pretty shouty. And determined to prove him wrong.
Australia’s inaugural National Bookshop Day was held two months later. The sixth, on August 13, will be the first to fall beyond the minister’s five-year time period. And bricks-and-mortar booksellers have outlasted VCR manufacturers, Kodachrome and Nokia’s dominance of the phone industry to still be alive and kicking.
As it turned out, the minister was wrong – he extrapolated too far – but there were reasons at the time to have reservations about the industry’s prospects. The REDGroup – parent company of Borders and Angus &amp; Robertson – had just gone into receivership and there were concerns that much of its 20% share of the Australian book trade might simply be lost, with those dollars drifting away from books, or at least from Australian retailers.
Amazon had been on the rise since the 90s, and almost no one could price like it. It paid no high-street rents, it paid no counter staff, it had scale and much of the time it wasn’t even focused on profit, cutting prices even leaner to build its customer database and achieve market dominance.
When Sherry spoke, the GFC was still a recent memory, and books had started to look like discretionary purchases. Around the same time, the promise of e-reading was finally realised with the arrival of devices that people were actually happy to use, such as the Kindle and the iPad. US ebook sales had <a href="">risen 1,260%</a> between 2008 and 2010. The line on that graph goes to a crazy place pretty quickly, if you let it.
Factor in the time-sucking vortex of the internet – Facebook, YouTube, news, gossip, downloadable games, streaming video services, op-ed pieces like, um, this one – and its potential impact on book reading, and the environment looks extra tough. Charles Darwin, survival-of-the-fittest tough.
So in 2011, it was possible, if you stared wide-eyed and fearfully at nothing but recent statistics and an upended entertainment landscape, to envisage a contracted book industry comprising only ebooks and a single enormous warehouse that had paper books zipping along conveyor belts and packaged and mailed by robots in response to a customer’s click on the other side of the world.
In the short term, Sherry seemed dangerously close to the mark. In the year he made his prediction, Australian book sales ended up crashing 18 percent by value. That is, a billion-dollar industry saw sales slump by almost a fifth in a single year. The following year, the industry relied on Fifty Shades of Grey to mask another disastrous fall. Remove that trilogy from the stats and sales dropped a further 12.5 percent in 2012.
But it’s now 2016 and the scheduled apocalypse didn’t arrive. So, what happened?
Ebooks are here to stay, but paper books aren’t going away and, despite Amazon, neither is the astute neighbourhood bookseller – who realises that ebooks are not an enemy vanquished and that the landscape is not what it once was, but that the local bookshop has a place in it anyway. Recently, bookshop numbers have been rising rather than falling. <a href="">According to Joel Becker</a>, CEO of the Australian Booksellers Association, “we’ve seen an increase over the past couple of years of about 5 percent.”
The ebook market will continue to evolve, and what ebooks are will continue to evolve too, but, in the absence of major drivers of new growth, sales are unlikely to grow at the rate they managed at the time of the Sherry prediction. The audiobook market will probably continue to expand.
While all panicked eyes were on ebooks, audio sales – now mostly digital downloads – were happily off to one side growing at double-digit speed year after year.
Meanwhile, back in the world of paper books, Amazon will not go away.
In fact, Amazon is opening bookshops of its own. Because maybe even it knows that “people who bought this also bought that” isn’t the same as browsing the shelves of a neighbourhood bookshop. It rates as an experience, and flicking through stamp-sized book cover images online really doesn’t.
Browsing in a bookshop feels like time well spent, while searching for a book online feel like squandered time – only the purchase counts.
A local bookshop is part of a community, working with schools and families and all nearby readers to link them with books they might come to love, connecting with its customers and bringing a human kind of expertise whenever it’s asked for. It is a hub for bookclubs and author events and the chance encounters that lead to the discovery of an unfamiliar writer who becomes a lifelong favourite. It remains far better than an algorithm when suggesting what book your eight-year-old niece or granddaughter might like for her birthday.
And, happy as I am to read ebooks or listen to audiobooks, the local bookshop’s product, paper books, rates as entertainment. The paper book is a value proposition. Twenty or thirty dollars buys you hours of deep, screen-free, distraction-free reading. Nothing pings, nothing beeps and your paper book doesn’t let you know about some random person’s Facebook update or a newly arrived spam email. In a world of multi-tasking and deliriously excessive inputs, reading a paper book is mono-tasking at its finest.
Paper books and the people in our neighbourhoods who sell them to us have not faded into the past and will not be going away any time soon. I’m sure Nick Sherry would be happy to be wrong about that, and will be as glad as any of us that we still have bookshops to celebrate at National Bookshop Day in 2016.
Nick Earls<a href="https://theconversation.com/profiles/nick-earls-291096" rel="author"></a> is PhD Candidate in Creative Writing, The University of Queensland and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/nick-earls-291096" target="_blank">here</a>.
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All hail the bookshop: survivor against the odds

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Australia is a nation full of highly confused real estate consumers. They’re befuddled because there is so much conflicting data on matters relating to residential property, especially on prices.
The confusion arises because of the widespread acceptance of anything labeled “research” as fact. Media these days is driven by under-resourced journalists and there’s a growing tendency to recycle press releases as articles, without the scrutiny that once was common in the industry.
Back in the day, publishing a press release (which, by definition, is someone’s propaganda) verbatim was a sacking offence. These days it’s mainstream journalism, especially in real estate. Most of the online “news” services that send out daily bulletins consist almost entirely of contributed material. The journalistic content is close to zero. 
Any press release from a name research company featuring price data will be published without question. If the press release says Sydney prices are still soaring, that will be the headline in multiple media outlets, including some of our biggest newspapers.
The problem is that price statistics are often very rubbery figures. One of the ways we know this is by comparing price data from multiple sources. The differences and contradictions are quite stark. 
Recently I wrote a report which focused on the latest price data for the eight capital cities from four different research sources. The areas where they disagreed were far more numerous than the ones where they were broadly in concert.
Two sources claimed Sydney prices were still growing at an annual rate around 11 percent, while the other two said the annual growth rate was down to 1.2 percent and 2.6 percent.
One source said Darwin house prices were unchanged while another recorded an 8 percent decline. Two sources said Canberra apartment prices were rising and the other two reported they were falling. All four agreed that Darwin apartment prices were falling but the rate of decline ranged from 0.2 percent to almost 10 percent.
Annual price growth for Melbourne houses ranged from 7 percent to 15 percent. One said the capital city average was 2.7 percent annual growth in house prices while another claimed it was 8.2 percent.
There are myriad other examples.
We know that different research companies have different methodologies and parameters, but consumers are entitled to think that the movement of prices in a particular location is a mater of fact: when media reports one week that they’re rising and the next that they’re falling, confusion is understandable.
It seems no one in media has noticed the discrepancies.
And now we have the Reserve Bank revealing that it disregarded price data from one of its regular sources. Apparently a change in methodology resulted in the research entity overstating price growth in Sydney and Melbourne.
At the time those figures were published, I challenged them because I thought they were clearly wrong. They contradicted known trends in the market and also conflicted with data from other more credible sources. 
But media outlets across the nation published those erroneous figures as fact. There were numerous headlines declaring the fading Sydney boom had been reactivated somehow, miraculously, in contradiction of all previous data.
Inevitably this was accompanied by observers shouting about bubbles, affordability crises and young Australians priced out of the market, doomed to a lifetime of renting.
Worse, one of the big-name global ratings agencies rushed out a warning about the re-inflation of the Australian house price bubble, based purely on a single month’s price figures from one research source. It says something about the credibility of the ratings organisation that the basis for them issuing international press statements was so flimsy.
The message for real estate consumers is to take real estate statistics with several grains of salt. It’s alarming how many people base investment decisions on published data from a single source, reported verbatim by an unquestioning media.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Property price statistics are often rubbery figures: Terry Ryder

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New laws relating to pre-purchase property reports (primarily building and pest inspection and strata reports) in take effect from Monday 15 August in NSW, following on from industry consultations held by Minister for Innovation and Better Regulation Victor Dominello earlier this year. 
Amendments to the Property Stock and Business Agents Regulation 2014 will enable greater access to pre-purchase property reports, with real estate agents now required to disclose information on all inspection reports conducted on a property up for sale.
Prior to drafting the amendments, Minister Dominello met with several figures from the NSW property industry in order to discuss the need for improved transparency, reduced duplication of inspection reports, and support for peer-to-peer services that offer discounts to consumers.
Rhys Rogers, CEO of beforeyoubid.com.au, a provider of building &amp; pest inspections and strata reports through a shared-cost model, was invited by Minister Dominello to make recommendations.
Rhys Rogers, CEO of beforeyoubid.com.au says the new laws will create greater transparency within the property industry.
It mean that there is less chance for selling agents to exercise improper influence on the quality of reports. 
"We’ve seen instances where consumers have purchased homes with thousands of dollars’ worth of issues which have not been properly identified by inspectors engaged by the selling agent.
"By making it obligatory for agents to disclose the availability of multiple reports, and who commissioned the report, there are now measures in place to improve consumer protection.
"Through our shared-cost model, consumers can now get a report written for them and share the cost of the report with other buyers saving everyone money for what is important – making a bid at the right price.”
Rhys Rogers purchasing property reports for around five properties was the average.
"Through our cash-back model, this means people save close to $1,500 on building &amp; pest inspections alone, which many find to be a rewarding silver lining when they’ve been unsuccessful at auction and need to continue their search.”
The amendments to the Property Stock and Business Agents Regulation 2014 can be found in clause 33A <a href="https://www.fairtrading.nsw.gov.au/biz_res/ftweb/pdfs/About_us/Have_your_say/Property_stock_and_business_agents_amendment_property_reports_and_exemption_regulation_2016.pdf" target="_blank">here</a>.
 
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Property 101: New NSW pre-inspection laws looming

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Sydney's Alexandria Hotel has been sold off-market to Justin Hemmes' Merivale Group for $10 million.
The Alexandria Hotel sits on a 913sqm corner site was slated for development until community objection forced the owners to sell the hotel with JLL appointed.
Merivale will restore the venue.
JLL’s national director of investment sales John Musca said the locals have really missed their hotel and famous beer garden.
“We are proud to divest an asset on behalf of property developers, Fiducia and their partners, and thank them for entrusting us with this important mandate. We also take this opportunity to congratulate the purchasers, Merivale, with this exciting acquisition and look forward to their plans for the hotel.” he said.
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Sydney's Alexandria Hotel sold to Merivale

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Residex says it is highly important to contextualise Hobart’s unit market growth figures because growth has been less consistent over the last five years compared to other cities.
Graph 1 shows a time series of quarterly sales and capital growth for the Hobart unit market.
Graph 1: Quarterly Capital Growth and Sales Numbers – Units, Greater Hobart
<a href="/images/2016/08/11/Graph_1.jpg" target="_blank">Click to enlarge</a>
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Source: Residex
The graph shows that strong growth in the May quarter came off the back of negative growth in the previous two quarters. It also follows losses in Hobart between 2011 and 2013. If you invested in the median Hobart unit in May 2010, when the median value was $282,000, you would have made nominal gains of just $5,000 in capital growth over the last five years.
Much of the stunted growth in Hobart is a result of the end of the mining boom and economic growth constraints such as geographic separation from the rest of Australia. However, as the Australian economy moves away from mining and into tourism, and those close to retirement develop an increased interest for investment properties, Hobart units suddenly present an affordable opportunity with high rental yields – which could account for the rebound of growth in the May quarter.
It is true that tourism has grown in Tasmania. Visitation to Tasmania and visitor expenditure in Tasmania grew approximately 7% in the year to March 2016. During this time, most visitors were people within Australia (85%), particularly Victoria (37%). A persistently low AUD may be encouraging domestic tourism for Australians as opposed to overseas visitations. Simultaneously, the low AUD could encourage further increases in international visitation, but this too is dependent on the stability of the global economy. Confidence in the global economy continues to be threatened by heavy migration flows and, in the short term, the possibility of Britain leaving the European Union.
Another important factor to consider is the wider Australian housing market, which is in the downswing phase of the growth cycle. As growth in housing slows, the wealth effect of housing diminishes, which may also reduce interstate visitation to Tasmania.
Another important consideration for those looking to Tasmania is rent. The rental yield on the median Hobart unit is currently 5.53%. Graph 2 shows the dollar value rent estimates of the median Hobart unit since 2010.
Graph 2: Historical Median Rent – Hobart Units
<a href="/images/2016/08/11/Graph_2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/11/Graph_2.jpg" alt="">
Source: Residex
Graph 2 shows rent has trended upwards. In the year to May 2016, rent increased by $20 per week. However, if wage growth does not prosper with rents, rental return may be held back by affordability problems.
A report by SGS Economics and Planning has found that some households in greater Hobart are spending an estimated 50-80% of their disposable income on rent. Anecdotal reports also argue that homelessness is steadily increasing in the region. However, the report uses 2011 Census income data, discounting wage growth over the last five years. As the value of Hobart units increase, rental yields are most likely to fall. The extent of the fall will depend on the rate of wage growth in the region. This is an important consideration depending on your investment strategy.
Finally, it is important to consider some of the more endogenous structural growth constraints in Tasmania. The seasonally adjusted unemployment rate in Tasmania was 6.5 percent in May, and the state also has the lowest rate of year 12 completion in 20-24 year olds (58 percent) due to irregular school structures.
Should Labour win government in the upcoming July 2 election, the opposition leader has pledged $150 million to the University of Tasmania and small business incentives to encourage a culture of further education, which could create long term job and growth prospects.
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Growth in Hobart unit market less consistent: Residex

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Sydney median house prices are at $825,000 according to CoreLogic's latest Property Market Indicator Summary, with Melbourne houses at $590,000 and Brisbane $515,000.
The current median price for units is the most expensive in Sydney at $680,000.
Median house prices in Adelaide and Hobert are $420,000 and $300,750 respectively.
<a href="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.21.00%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.21.00%20PM.png" alt="">
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