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>
The Darling Street retail strip which runs through Rozelle and Balmain is back in business, according to Ray White Commercial Inner West.
Ray White Commercial Inner West Principal Tim Morrison said the agency has leased more than 20 shops in Balmain and Rozelle so far this year and the precinct is thriving once again.
“Balmain is back,” he said.
“After a few years of a large number of vacant retail premises, there has been a significant turnaround this year in Darling St.
“We have leased more than 20 properties so far this year which is the most active I have seen the leasing market in Balmain for many years with virtually no vacancies."
 
Tim said a variety of businesses had set up shop in Darling Street this year, with IT companies, barbers and hairdressers, food stores, clothing outlets, music shops and a number of bars moving in.
He said one of the reasons for the Darling Street revival was some local council initiatives such as easing parking restrictions for shoppers.
“There has certainly been some recognition from council that the precinct was in need of some assistance,” he said.
Tim said easing rental prices and incentives had also helped to attract tenants.
“Darling St is a busy retail strip again with high pedestrian and vehicular traffic and it will always be a popular area being close to the Sydney CBD with quick and easy access to the major commercial hubs along Victorian Road and City West Link,” he said.
“We have investment opportunities available offering highly attractive yields.”
</body></html>

j.ballantyne1990-6AQqhLzZaK

Darling Street buzzing again

<html><body><div class="page" title="Page 1">
<div class="section">
GUEST OBSERVER 
The Westpac Melbourne Institute Index of Consumer Sentiment increased by 2.0 percent in August from 99.1 in July to 101.0 in August. 
The survey was conducted over the first four days of August, covering the Reserve Bank’s August 2 announcement of a 0.25 percent cut in the overnight cash rate from 1.75 percent to 1.5 percent.
The response to this development has been much more muted than we saw in May when the Bank last cut the rate, from 2.0 percent to 1.75 percent.
</div>
<div class="section">
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%2011.14.23%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%2011.14.23%20AM.png" alt="">
 
On that earlier occasion the Index lifted by an impressive 8.5 percent from 95.1 to 103.2. That was an exceptionally large positive response and much stronger than the average rise following rate cuts historically. 
That can be explained by a number of factors. Firstly, there was a larger surprise element to the May decision with, arguably, significantly less intense media speculation than we saw in August. Secondly the standard variable mortgage rate offered by most banks was reduced by the full 0.25 percent, whereas in August the four major banks only reduced variable rates by 0.10- 0.14 percent. Finally, the Index was coming from a significantly lower starting point in May (95.1) than in August (99.1). 
Another development that may have unnerved respondents in August has been political unease. With the government having been returned with a wafer thin one seat majority in the House of Representatives and considerable change in the Senate, respondents might also be somewhat uncertain about future prospects around potential political stability. 
Finally we have to accept that as interest rates go progressively lower some respondents, particularly those who may not have a mortgage, may become more unnerved about the signal that record low rates is sending about the economy. For example, in today’s result, while respondents with a mortgage responded strongly, there was a 1.3% fall in the confidence of those respondents who wholly own their properties. 
That negative might have been expected to be even bigger for respondents that have low debt and rely on interest income. However, the decision by banks to raise some term deposit rates following the RBA rate cut has instead given a notable boost – sentiment amongst retirees in particular posted a strong 7% rise. 
Notably, consumers do not expect to see more interest rate relief. In our special question around the outlook for mortgage rates, 37% of respondents expect mortgage rates to rise over the next 12 months; 36 percent expect rates to be steady; and just 27 percent expect further rate cuts. 
Overall the lift in the Index is still consistent with an improved outlook for the Australian economy. We are now back in the range where optimists outnumber pessimists. Over the last thirty months there have only been eight when optimists have been in the ascendency with three of those months figuring in the last four. 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
In particular, prospects for the housing market appear to have been boosted by the rate cut. The confidence of those respondents who hold a mortgage lifted by 7 percent. 
Westpac’s Index of ‘time to buy a dwelling’ rose by 10.1 percent to be up by 9.2 percent over the last year. In particular, the key states of NSW and Victoria showed strong improvements. The Index lifted by 19 percent in NSW and by 12.8 percent in Victoria. This is particularly significant for the key Sydney market where the Index is now 61 percent above the average of the second half of 2015 when confidence collapsed in the Sydney housing market. 
The Westpac Melbourne Institute House Price Expectations Index was basically flat for the month but, consistent with the ‘time to buy’ index is signalling considerably more confidence than we saw at the start of the year. This Index has increased by 28 percent since the end of 2015. 
Despite the lift in overall confidence prospects in the labour market deteriorated somewhat. The Westpac Melbourne Institute Unemployment Expectations Index increased by 1.7 percent from 138.8 to 141.2 (recall that higher reads indicate higher expectations for unemployment and a worsening outlook for labour market conditions). The Index is still 4.4 percent below its level from a year ago. However the promising improvement we saw in the Index near the end of last appears to have stalled over the course of this year. 
Both of the components of the Index that assess family finances increased in the month. The ‘family finances vs a year ago’ sub- index lifted by 1.0 percent and the ‘family finances over the next 12 months’ sub-index was up by 4.3 percent. This is the second highest read on the outlook for finances since October 2013 although there has been no comparable outperformance for the backward- looking component, which is 9.6 percent below its level from a year ago. Note that in its Statement on Monetary Policy the Reserve Bank gives most attention to this component of the Index. 
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Short term confidence in the economy improved. The ‘economic conditions over the next 12 months’ sub-index lifted by 3.5 percent to be up by 10.5 percent over the year. While there was little movement in the ‘economic conditions over the next 5 years’ sub-index (down 0.7 percent) that Index is also up by an encouraging 11.5 percent over the year. 
Retail prospects improved marginally with the ‘time to buy a major item’ sub-index up 1.6 percent (although still down 2.7 percent on a year ago).
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%2011.15.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%2011.15.31%20AM.png" alt="">
 
The Reserve Bank Board next meets on September 6. Having cut rates at its last meeting the Board is almost certain to keep rates on hold in September. However it is clear from the Bank’s recent Statement on Monetary Policy that it holds an easing bias. That sentiment has encouraged markets to expect a further cut in November following the release of the next inflation report. The case for a cut is based on Australia’s ongoing low inflation environment. 
However, by November, consistent with some of the messages in this survey we expect that economic conditions will have firmed sufficiently for the Bank to be more patient with its inflation objective. It may recognise that rigid adherence to the current inflation target of 2–3 percent might not be the best way to run policy in this current low inflation world. 
Accordingly we expect that the Bank will decide to hold rates steady in November
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>. Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.
</div>
</div>
</div>
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

Case for rate cuts based on Australia’s ongoing low inflation: Westpac's Bill Evans

<html><body>
Harrington Grove has won the best 2016 Masterplanned Community in NSW at the UDIA NSW/Meriton Awards for Excellence.
The award recognises masterplanned developments that are designed for self-sufficiency and provide high standards of design, diversity and housing choice. 
Terry Goldacre, managing director of Harrington Grove said the vision of Harrington Grove is to create a low-density sustainable community set in a natural landscape that ensures environmental impact is minimised.
“The high quality facilities have been instrumental in delivering the tight-knit community that forms the nucleus of Harrington Grove," he said.
"The active community program strengthens the ties between residents while reinforcing the friendship that underpins the entire estate.
“A development can just be a row of houses, but a community is a development plus the social support and involvement.
“By investing in the facilities and events to foster a sense of unity and commitment in Harrington Grove, the end result is a community of residents who care for each other and the facilities they share.”
Harrington Grove is a masterplanned, community-oriented residential development complete with Country Club, resort-style pool, tennis courts, community rooms, fully-equipped gym, amphitheatre and barbecue areas. 
</body></html>

jonathanchancellor-7SQnKwU6yx

Harrington Grove named masterplanned community NSW by UDIA

<html><body>
<img src="https://counter.theconversation.edu.au/content/63638/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A plethora of new and personalised ways of getting around cities are emerging – electric bikes, motorised scooters, electric vehicles, car sharing and re-interpretations of the taxi by Uber.
How might we realise the potential of these transport disruptions? How does the combination of culture, regulation and technology shape sustainable transport futures? The extent to which technologies align with social, political and policy norms is a critical factor in their uptake and success.
Technology is politically, socially and culturally mediated. Its success relies on how it relates to existing lifestyles and aspirations. Technologies need to be accommodated in the ways we want to move around cities. The most amazing technological intervention will quickly atrophy if it is disconnected from daily needs and desires.
Regulatory settings can impede or foster new technologies. We can make space for different ways of moving around – such as cycleways, footpaths and roads. We can prohibit or encourage disruptive forces, as so starkly evident with Uber. We can set tax and other pricing mechanisms, as incentives or disincentives for modes of transport.
Some argue that new technologies are so disruptive because they have no predecessor to show us the way. But examples are emerging that show us where society, regulation and technology have or have not aligned, underpinning their success or failure.
<h2>Car sharing – an obedient disruption</h2>
Car sharing in Australia’s inner cities has been phenomenally successful. There are an estimated 50,000 car sharers across the country.
The disruptions of car sharing are mild: it draws on technologies and skills shared with other aspects of social life. The concept of sharing is disruptive but easily accommodated; regulation adapted quickly to the subtle shifts required. It is an obedient disruption, and this obedience is one of the pillars of its success.
Car sharing is technologically disruptive as it relies on smart technologies to function. It is booked online, unlocked by a smart card, automatically paid by credit card and invisibly monitored via GPS.
It is socially disruptive. Car sharing relies on people deferring or giving up car ownership. Importantly, it asks us to give up the emotional and cultural attachments we have to cars. Evidence is mounting that millennials are swapping out the car for the phone as a status symbol.
Car sharing does not significantly challenge regulatory frameworks or political interests. It does rely on parking space, though, and local governments have quickly developed car-sharing policies to balance the needs of sustainable transport with access to on-street and off-street parking. While providing dedicated parking space to car-share organisations has been politically controversial, the regulatory supports were easily identified and mobilised.
Car sharing is a case where the lifestyles, values, technologies and regulation are aligned – a sustainability success story.
<h2>Personal mobility devices – a disruption in limbo</h2>
Personal mobility devices, known as PMDs, are more disruptive and a less successful sustainable transport option thus far in Australia. These are personal, battery-powered or motorised modes of transport designed for an individual to use on footpaths or shared paths. They include Segway, YikeBike or two-wheel motorised “Razor” scooters.
These devices allow the rider to travel short distances quickly without physical effort. Their small size makes them easily transferable between transport. This means they can bridge the “first and last mile” – between home and transit and work.
Despite their popularity, which is visible on city streets, PMDs are unable to be legally ridden on roads, footpaths, shared paths or cycleways in most Australian states. They do not meet vehicle standards and cannot be registered or legally used on roads.
Most of these devices are too dissimilar from bicycles, even electric bikes, to be classed as bicycles. Motorisation and wheels also rule out their classification as a pedestrian.
With the exception of some devices for tourism, PMDs remain in limbo in most Australian states. There was a move in Queensland in 2013 when a policy framework to regulate the use of PMDs was implemented. These regulations specified what a PMD is and how/where it can be used.
PMDs were defined as pedestrians to be used in pedestrian environments. Strict rules applied. Riders must:
<ul>
<li>
not exceed 12 kilometres per hour;
</li>
<li>
be 12 years or over; and
</li>
<li>
wear a helmet.
</li>
</ul>
In short, regulatory settings were modified to allow these new forms of technology, though not without debate.
How might these means of moving about the city be accommodated or become part of ordinary transport? For these devices to be used as transport, they need to get people travelling faster than walking without compromising safety.
<h2>Driverless cars – are we ready?</h2>
The stuff of science fiction 50 years ago, some technological optimists today predict driverless cars will be in our cities within five years. Indeed, autonomous cars are already here. New cars have adaptive cruise control, lane departure warnings, collision avoidance and parking assist.
Robotic vehicles are increasingly common in agriculture and mining. With researchers turning their attention to the realities of life with driverless cars, regulation and social impact are once again emerging as key issues.
A recent assessment by the National Transport Commission of Australia found that 716 provisions from two conventions, 32 acts and 21 regulations need to be addressed before autonomous vehicles become commonplace. Fundamentally, legal and insurance frameworks need to rethink a driver, and who is responsible when there is no driver.
There are also considerable privacy implications of tracking and the ubiquitous sensing and data collection that these vehicles require. While the technology is almost there, our policy frameworks are not quite there.
Research also shows that people are not quite ready for autonomous cars. Car makers are working in more sophisticated ways to ensure that autonomous cars talk to passengers, telling them when they are and are not in control and what is around them.
Businesses, on the other hand, are increasingly ready for autonomous cars, especially through shared transport. In the US, General Motors has invested significantly in ride-sharing business Lyft. General Motors expects autonomous cars to be operating within ten years.
Uber is conducting its own trials of autonomous vehicles. Increasingly, it appears that economic and social conditions are more likely to support driverless buses, at least short term.
Evidence is mounting that our cities, citizens, businesses and policymakers are getting ready for a future where transport technologies that are neither car nor public transport are commonplace. Mismatches remain between technology, social life and regulation, but their alignments, especially around shared transport, are proving successful.
Robyn Dowling is professor and associate dean Research, University of Sydney and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/robyn-dowling-90213" target="_blank">here</a>.
</body></html>

Smart cities: does this mean more transport disruptions?

<html><body>
Falls in capital city property rents is accelerating according to the latest CoreLogic Property Market Indicator Summary, with gross rental yields highest in Hobart, Darwin and Brisbane.
Asking rents for the combined capital cities are now down 0.6 percent over the 12 months.
<a href="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.36.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.36.33%20PM.png" alt="">
</body></html>

Property 101: Asking rents down 0.6 percent over 12 months: CoreLogic

<html><body>
The breakfast radio presenter Rove McManus and his wife, actor Tasma Walton, have found their eastern suburbs coastal property.

They've splashed out on a five bedroom Bronte beach house with beach and ocean views.

It is all quite hush hush, being sold pre-auction, but on settlement, it's likely to show the purchase price as $6,415,250. It last sold for $2 million in 2000.

They been thought to have bought in Coogee, but instead secured an 1920's architect redesigned beach house on a very private 740 sqm.

The five bedroom house comes with a custom-fitted home office and library.

There a temperature controlled wine cellar and a self-contained studio.

All quite LA, where they have kept a house.

[smartcode_project:default project_id=5897]

The three time Gold Logie award winning TV presenter and radio star was seeking a shorter commute time to his 2Day FM studio in the city.

The couple sold in Avalon in June for around $3 million.

They owned the home, with district views, since 2011 when he bought it for $2.57 million.

The couple returned from the United States last year where he hosted a new game show Lie Detectors, in which audience members decide which of the three comedians is telling the truth.

He also hosted a segment called "Rove Across America" on The Tonight Show.

This article was first published in the Sunday Telegraph.
</body></html>

Rove McManus buys $6.4 million Bronte hillside home

<html><body><div class="cq-article-content-paras section">
<div class="cq-article-content-paras section">
Daydream Island owner China Capital Investment Group has secured South Molle Island in the Whitsundays in the Great Barrier Reef for about $25 million.
The leasehold tropical island was sold by long-time owner and tourism identity Craig Ross.
It has 12 hectares of developable beachfront land and an existing 188-room resort.
The island offered the potential, according to the information memorandum, to develop a 1300-room resort, subject to planning approval.
The Shanghai-based China Capital Investment Group secured the Daydream Island (West Molle) Resort and Spa last year from Nature's Own founder Vaughan Bullivant for about $30 million. The 4.5-star resort has 296 rooms and suites.
The company was founded by Chuanyou Zhou, the chairman and CEO. Its invests in the mining industry, real estate and infrastructure.
</div>
</div></body></html>

South Molle Island sold to West Molle owners

<html><body><div class="cq-article-content-paras section">
<div class="cq-article-content-paras section">
<div class="cq-article-content-paras section">
Fast food retail investor Chris Retzos has sold his KFC restaurant in Altona North for $5 million to Asian investors on a record low yield of 3.7 percent.
Bidding for the KFC opened at $3.5 million with four bidders competing for the takeaway premises.
The hammer price at the Burgess Rawson auction bettered the previous $4.14 million record sale of a Melbourne KFC in May this year on a 4.8 percent yield.
The Retzos Group operates more than 40 KFC restaurants in Australia.
It will lease back the Altona North KFC on a new 10-year lease. 
The buyer was a Melbourne-based group of Asian investors, who own other fast-food investments.
</div>
</div>
</div></body></html>

KFC store sells at record low yield

<html><body>
Considering and discussing, the purchase of an investment property opens up all sorts of arguments, discussions and from time to time, polarizes the parties involved.
This is not to mention also spoiling a friendly neighborhood BBQ or coffee catch-up with a friend.
One of the many and current topics of discussion is whether we should buy new and off-the-plan apartments in one of the main three capital cities of Australia; namely Brisbane, Melbourne or Sydney?
I have taught and have written about off-the-plan purchases. The following reason for buying can be used as a blanket approach when considering a new apartment purchase. Notwithstanding, this strategy may be considered across any city or development, as a matter of course.
The main beneficial reason why an investor would buy a new apartment, before completion, was simple to understand in previous years. Developers needed pre-sales to support their construction application for the banks.
Pre-sales which are now predominantly called off-the-plan sales, had one major attraction in the past, which now appears to be lost. As an off-the-plan purchaser, there was a benefit; we bought early and saved from 5 and up to 10 percent the value “at the time” off the purchase price. This was measured against prices of similar completed apartments, on the day.
The current trend and market for off-the-plan purchases.
The current trend however, has bucked the reasoning behind the support given to developers with pre-sales.
On the one hand, developers have become greedy and with the support of the financial sector, have increased the asking price.
In other words, we now pay tomorrow’s market value for the apartment and with no added discount as a benefit. The underlying question is “but why?” This is all because of the highly speculative new client base: the overseas investors that have come in and in large numbers. As well as the Self-Managed Super Fund (SMSF) vehicles, set up for local speculators and investors.
Both overseas and SMSF investors are fueling the new-apartment development bubble as has never been seen before. With this in mind, developers and marketing companies have been able to increase:
<ul>
<li>The end property values to account for market forces that has seen a huge upswing in prices; and</li>
<li>To pay for the high commissions paid out to marketing agents and the financial sector. Commissions in the tune of 8-10 percent.</li>
</ul>
The repercussion of industry greed
The outcome of the high prices charged for new-apartments and higher commissions than the industry norm is a no-brainer; the losers are the buyers, most of the time.
For years, I have been discussing the need for the Real Estate Industry and watchdogs to tighten controls against this push, but my calls have fallen on deaf ears and the outcome is:
1)     We now have an understated over-supply of apartments across Brisbane, Melbourne and Sydney;
2)     The rental market cannot and will not effectively absorb the new supply, which will have an increase in rental vacancies; and
3)     The inevitable, valuers will value down apartments to safeguard their client’s interest, the banks.
We may well see drops of 20-30 percent in values and in the near future. Likewise, rental yields will diminish to 60-70 percent off what they are today.
Supply chart of apartments to be completed in the next 12-24 moths
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" alt="">
Where to from here?    
I have been asked by friends, clients and family; where to from here? I have shared the following with them for over 12 months and only now the mainstream are coming to the party.
1)     Hold and wait; wait for another 6-12 months before looking to buy, if you need to buy new.
2)     Most of the new apartments are under-engineered, badly built and come with a lot of issues.
3)     Have you noticed that most spruikers try and only sell you, new and off-the-plan apartments? and
4)     Communicate as much as possible with local real estate agents that don’t have invested interest in the new development. After all, they may be the ones that will manage the property for you.
The caption below is an article recently posted by a colleague of mine. It is a timely argument of what is to come. This is all due to the huge oversupply of high-rise development. When we match this information with the number of apartments currently under construction; it appears to be the makings of a nightmare for investors in high-rise developments. 
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" alt=""> 
The full article may be found on: https://mortgageeproperty.com/foreign-investor-settlement-risk-soaring.html
Tips in managing your investment
If you do find yourself in a position that you have bought an off-the-plan apartment and your property is in the final stages of settlement; I recommend the following tip, to minimize long term vacancy.
Don’t rely on the selling agent’s “marketing company” to lease your apartment, particularly if they were the leading agency in the sales phase. You only have to ask; how many other investor’s apartments are they also trying to lease out? 
Now if you are looking to invest in new apartments, our old and proven theory remains steadfast. Invest in low set building blocks and preferably one’s that have no more than three levels.
More importantly, be sure to and look out for the next article on: buying in low set building blocks, versus high rise apartment blocks; winners and losers.  
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
</body></html>

ealmedia-arK4DBYLjS

Bumpy ride buying new apartments in Melbourne, Brisbane and Sydney: Edwin Almeida

<html><body>
GUEST OBSERVER
Office metro markets, like CBD markets, are driven by factors which differ from state to state and region to region, so any discussion of a ‘national’ metro market only serves to mask the various drivers of each of these markets. 
There’s no question that long-overdue Infrastructure investment along the eastern seaboard will be the primary driver of growth in metro markets in the coming decade.
According to Colliers Metro Office Research and Forecast Report- first half 2016, over 33 buildings in Sydney’s metro markets will be compulsorily acquired for the Metro Rail, putting downward pressure on vacancies and upward pressure on rents. In fact, many metro markets are now at a tipping point, with the first real opportunity since the GFC to experience significant growth.
But where will the positive effects be most strongly felt?
NSW is where the strength is
At the moment, the NSW state economy is the strongest in the nation, with robust employment growth and a healthy surplus. It is also the hub for infrastructure development, with projects like the Sydney Metro, WestConnex and the Parramatta Light Rail set to come online in the next 10 years.
The most recent state budget revealed a total spend of $68.6 billion over the next four years alone, a very positive scenario for those metro markets in line to receive infrastructure upgrades.
This is because efficient transport links allow for greater connectivity across all metro markets, and in turn, increase the attractiveness of metro accommodation to a broader tenant base.
In further good news, the stock withdrawal story we are seeing in the Sydney CBD market holds true in a number of other NSW metro markets. Colliers reports that between January 2015 and January 2016, metro office stock decreased Australia-wide from 7.34 million sqm to 7.29 million sqm as a result of withdrawal for residential conversion or infrastructure development.
As the same time, we have not seen the same influx of offshore money into these markets as we have in the major CBD office markets. With offshore investors continuing to favour CBDs, investors in metro markets are still predominately domestic. The proportion of domestic investors, compared with international investors is continuing to grow with Colliers reporting that domestic investors made up 55 percent of the acquisitions in 2013, 60 percent in 2014 and 65 percent in 2015.
Centuria’s ASX-listed Metropolitan REIT invests purely in metropolitan office and industrial assets across Sydney, Brisbane, Canberra and Adelaide. These assets have been valued at $396.7 million. Decreasing vacancies and increasing values have seen this fund trading well amongst both institutional and retail investors, highlighting the investor appetite for metro investment.   
Sydney’s north shore metro markets set to shine
In our view, some of the strongest metro markets are to be found on Sydney’s north shore, where the positive combination of residential conversion with acquisitions made for Metro stations will translate into improved vacancy and rental levels in the next few years.  
For example, fifteen commercial properties will be demolished along the north shore, in to make way for the Sydney Metro. At the same time, all new development is focused on residential accommodation, and with no new commercial development slated we expect a further tightening of supply and upward pressure on commercial rents.
As a result of the positive fundamentals, Centuria recently completed the purchase of part of the Zenith office tower in Chatswood, an area which we see as a major beneficiary of the Sydney Metro. Stage 1 from the northwest to Chatswood is scheduled for completion in 2019, and the second stage from Chatswood to the southwest via the CBD will put Chatswood right at the heart of Sydney’s transport network.
The most recent PCA figures show vacancy rates have dropped back to 6.6 percent in Chatswood which is the lowest vacancy rate for many years. We also expect demand to increase further due to the strong transport links already in place in Chatswood and the absence of any significant increase in supply. 
Looking forward, we are confident that Chatswood status as a major commercial and residential hub will be cemented by the benefits of the major infrastructure spend by the NSW State Government. 
Positive fundamentals in the CBD fringe, particularly in the south
Vacancies continue to fall in the city fringe as a result of leasing growth on the back of demand from tenants displaced by withdrawals for infrastructure and residential projects in both the CBD and locally.
The Southern CBD and fringe areas are undergoing a renaissance on the back of proximity to the rapidly growing residential area of South Sydney as well as demand from tenants displaced by the metro line. This area is particularly popular with advertising and media companies, resulting in over 10,000 sqm of demand in the six months to January 2016, according to Colliers. 
In late 2015, in conjunction with Mirvac, we acquired commercial property within the Australian Technology Park south of Sydney. The site is 14 hectares, three kilometres south of the Sydney CBD on the site of a $1 billion development for CBA, which we believe will have wide-ranging positive impacts on the broader Central to Eveleigh corridor.
So what’s the bottom line?  Our house view is that tenant demand for metro locations will continue to strengthen as CBD vacancy rates fall. Withdrawal of A and B grade stock for residential conversion and/or infrastructure development will leave many tenants in this market seeking cost effective solutions in those suburbs with good (and improving) transport links.
This means markets such as Chatswood, and the southern fringe of the CBD are likely to benefit. We have already taken advantage of a number of opportunities with compelling value, such as our purchase, in conjunction with global investment manager BlackRock, of The Zenith in Chatswood.
Ultimately, we remain convinced that the fundamentals of these metro markets in NSW make them ideally suited to providing stable, high yields and potential for capital growth that our investors have come to expect.
 Jason Huljich is chief executive officer, Unlisted Property Funds for <a href="https://centuria.com.au" target="_blank">Centuria</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