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 Neometro are building a new urban village called Jewell Station in Brunswick, Melbourne.
Jewell Station will feature new bike paths, communal gardens, public arts and events programs, a rejuvenated local park, cafés, independent retail and meditation spaces.
The development sits on former VicTrack land surrounding the Upfield Line station.
Neometro has collaborated with community partners, including urban farming group 3000acres, to establish community gardens, Melbourne art consultancy Utopian Slumps to commission a public art piece for the precinct, and speciality coffee trader Phase One Coffee to open a new café onsite.
According to Neometro Director James Tutton, sustainability is central to every aspect of this New Urban Village.
“Sustainable living is about creating infrastructure that supports resilient communities while incorporating environmentally-sustainable design principles into the built form,” he said.
“For us, a home is much more than four walls and a roof. Building spaces that promote creative and connected communities is at the core of our values.
Some 13 one-bedroom and 65 two- bedroom apartments make up the eight-story (plus rooftop residents’ amenities) Barkly building released for sale. Ground floor retail opportunities and apartments within a second building will be offered towards the end of the year.  
Neometro will use law firm Maddocks electronic contract exchange platform ‘eContracts’ for the project.
For more information, <a href="https://neometro.com.au/projects/current/jewell-station" target="_blank">click here</a>.
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Neometro's new urban village at Jewell Station

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Commonwealth Gold Medallist and former Australian netball captain, Liz Ellis joined Mayor of The Hills Shire Council, Clr Dr Michelle Byrne to open Quest Bella Vista at 24 Norbrik Drive within the Norwest Business Park.
Quest Bella Vista is the second largest property in the Quest network.
Quest national sales operations manager Tim Cross said Quest Bella Vista has already experienced full occupancy on several occasion since opening at the end of June, seeing high occupancy consistently for the remainder of 2016. 
Quest Bella Vista Franchisees, father and son team Kamal and Sagar Verma, have been the franchisees of Quest Dubbo since late 2015, with Sagar adding Bella Vista is establishing a reputation as a highly sought after business centre for companies to base themselves.
"It is such an amazing opportunity as we see Bella Vista continuing to develop, fueled by the Norwest Business Park that hosts a number of large national and international companies," he said.
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Mayor Michelle Byrne officially welcomed Quest on behalf of The Hills Shire Council and said the Sydney Hills is one of the fastest-growing regions in NSW.
"Tourism is a vital industry, contributing around $342 million to our economy and employing more than 2000 people," she said.
"I congratulate Quest and I’m sure they will help to drive our visitor economy."
Quest Bella Vista features 147 one, two and three-bedroom apartments over seven levels, with contemporary conference facilities, an onsite gymnasium and car parking.
 
 
For more information, <a href="https://www.questapartments.com.au/Accommodation/485/Australia/Sydney_Suburbs/Quest_Bella_Vista/Facilities.aspx" target="_blank">click here</a>.
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Commonwealth Gold Medallist Liz Ellis joins Mayor Byrne to officially open Quest Bella Vista

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GUEST OBSERVER
In NSW strata committees have the authority to ban smoking by introducing a smoke-free by-law.
Introducing a smoke-free by-law is the most effective way to eliminate the health, legal and financial risks associated with smoking in apartment complexes. 
To help strata committees advocate for a smoke-free by-law, and to provide guidance on the development and implementation of a smoke-free by-law Cancer Council has developed the Achieving Smoke-free Apartments toolkit. The toolkit summarises the health, financial and legal benefits of smoke-free apartment complexes, the steps that can be taken to achieve smoke-free living, and examples of what to include in a smoke-free by-law. 
Download the full kit <a href="https://www.cancercouncil.com.au/wp-content/uploads/2014/07/Complete-kit.pdf" target="_blank">here</a>.
For more information, reach the Cancer Council <a href="https://www.cancercouncil.com.au" target="_blank">here</a>.
<h2> </h2>
 
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Property 101: Smoke-free apartments in NSW

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<img src="https://counter.theconversation.edu.au/content/63336/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
On August 9, most of the Australian population will complete the 2016 Census of Population and Housing. Census night comes less than a week after national Homelessness Week, which aims to raise awareness of the plight of homeless people. With that in mind, the week’s theme this year is “Homelessness Counts”.
While homelessness does count in that most people share concern about its rising incidence and societal impact, a perplexing issue is how to count the people who are homeless. It is essential that the information collected accurately reflects the true extent of homelessness in Australia. Reliable data about the homeless population is vital when developing policy, allocating funding and developing services for vulnerable people.
At the previous 2011 Census, 105,000 people were homeless. That was an increase of 17 percent from the 2006 Census. Anecdotal evidence suggests the number of homeless people – in particular the very old and the very young – is still increasing.
ShelterWA notes the majority of people become homeless due to financial and emotional reasons. The biggest cause of homelessness is family and domestic violence (25 percent), followed by financial difficulties (16 percent). Mental illness and addiction issues can play a role.
Most people experiencing homelessness have lived “normal” lives. They become homeless after a life crisis such as a job loss, illness or marital breakdown.
<h2>When is a person defined as homeless?</h2>
According to the Australian Bureau of Statistics (ABS), when a person does not have suitable accommodation alternatives they are considered homeless if their living arrangement:
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is in a dwelling that is inadequate; or
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has no tenure, or their initial tenure is short and not extendable; or
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does not allow them to have control of and access to space for social relations.
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This definition is much broader than commonly held perceptions of homelessness. While obviously the term covers the archetypal person “sleeping rough”, homelessness refers to a variety of precarious housing circumstances. This includes:
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people living in hostels and refuges;
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people without a usual address – for example, “couch surfing” or staying with friends; and
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those living in a single room without a kitchen or bathroom of its own.
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<h2>How do we ensure homeless people are counted?</h2>
Even armed with the ABS definition, the next issue for the census is how to identify and locate people experiencing homelessness.
<h4>Identification is an issue for several reasons. These include:</h4>
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it is not obvious that people who are couch-surfing are not living permanently on the premises;
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people may not self-identify or feel comfortable about elaborating on their circumstances;
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as they have a roof over their heads, such as in a hostel, people may not realise they are regarded as homeless.
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Locating people is another issue. This is especially challenging in the case of those sleeping rough.
Furthermore, homelessness is an issue in rural and regional areas as well as in cities. Resources are limited and, as 2016 Census data director Sue Taylor has noted: "we have to know they are there to be able to go and count them."
<h2>So what is being done about this?</h2>
Efforts are already being made to obtain quantitative data on homelessness, particularly in the major capital cities.
Unlike the census, which occurs every five years, Registry Week takes place annually and uses the methodology developed by Common Ground in the US. Using a specific survey tool called the Vulnerability Index, trained volunteers work in teams to conduct early morning surveys of people who are sleeping rough.
The methodology promotes a targeted approach with a view to moving the vulnerable homeless people into long-term housing. The strategy is effective in raising awareness of homelessness issues and informing agencies of trends.
It is, however, difficult to target everybody. For a start, some people simply do not want to be found or participate. Although this approach provides valuable information about city areas, there are not enough volunteers in rural and regional areas to assess the issue adequately.
The ABS will adopt a similar approach to the census by employing field officers to seek out homeless people. They will take direction from homelessness service providers.
These providers will help to identify likely locations occupied by people experiencing homelessness and to locate boarding houses, refuges and hostels. Obviously, the field officers have received training or are already experienced in dealing with vulnerable people.
The census form includes a question: “Where does the person usually live?” People who have no usual address are encouraged to enter “None” for the suburb part of the question, regardless of where they are staying on census night, even if they are couch-surfing or staying in other temporary accommodation.
Those using supported accommodation vouchers or brokerage services to stay in caravan parks and motels should record “None – crisis” on the census form.
<h2>On the verge of homelessness</h2>
On a related note, the census is expected to glean information about people experiencing housing stress.
On Monday, Homelessness Australia chair Jenny Smith noted that one in ten Australian households are in housing stress and at risk of homelessness. That is 850,000 people on the lowest 40% of incomes. This inescapable link must be factored into any analysis of the homelessness statistics.
Although the ABS is trying to identify as many people experiencing homelessness as possible, the figures are likely to underestimate the true extent of the issue. Unfortunately, a gap will remain between what providers know is happening “on the ground” and the statistics garnered through the census and channelled through to government.
Until a more expansive approach can be developed – and adequate resources provided for analysis of the results – the census’ pursuit of the homeless demographic will be akin to ghost-hunting.
Eileen Webb is associate professor, Curtin Law School, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/eileen-webb-95332" target="_blank">here</a>.
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Ghost-hunting: will the census reveal the true scale of homelessness in Australia?

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GUEST OBSERVER
The big, but completely unsurprising, news this week was the Reserve Bank of Australia cutting the cash rate to an historic low 1.50 percent.
As Vital Signs has been saying for some time, this month was a likely candidate for a cut, once second-quarter inflation was confirmed to be disturbingly low – as it was last week.
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Australia is faced with extremely low inflation, low effective growth, a squishy labour market, and prudential regulation measures enacted last year partially reigning in the housing market. Given this, it was almost inevitable Glenn Stevens would engineer another cut.
But there were some other figures of note this week. Australian retail trade rose 0.1 percent in June, compared to market expectations of 0.3 percent – further underlining the weak domestic economy.
Adding to that story of gloom, private sector building approvals were down in June, both in absolute terms and relative to expectations. House approvals fell 2.3 percent implying a 5.9 percent drop compared to a year earlier. Apartment approvals fell 2.4 percent, implying a 4.8 percent drop year-on-year.
Chinese manufacturing data was mixed – or perhaps just confusing – with the official Purchasing Managers' Index (PMI) down to 49.9, from 50.0 the month before. Recall that 50 is the break even between expansion and contraction. Meanwhile, the private Caixin index came in at 50.6 in July, up from 48.6 in June. This was the first jump above 50 since February 2015.
Why the difference? The likely answer is that the official government PMI is more relevant for large, state-owned enterprises, while the Caixin index is a better gauge of smaller and medium-size companies.
In the US, payroll processing firm ADP’s latest data revealed a 179,000 increase in non-farm payrolls in July. This was essentially confirmation of the official Bureau of Labor Statistics figures (though on a slightly different scale) of strong job creation in the US. This is further evidence of the likelihood of a rise in official rates by the Fed in the next month or two.
Now, back to Australian interest rates. Lower rates only have a potential stimulatory effect if they are passed on to borrowers by (largely) the big 4 banks. About half of Tuesday’s cut was passed on – with the rest “kept” for bank shareholders.
On Thursday afternoon, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announced at a press conference that the big 4 banks would have to front the House Economics Committee annually to “explain” their interest rate decisions.
Populist nonsense? Interventionist joke? Meaningless charade? Those are all phrases that come to mind. Turnbull grinned like a Cheshire cat as he described it as a “great opportunity” for the banks. Ho, ho, ho.
I’m no apologist for the banks, but they do have a legitimate argument that their funding costs have been rising. The US money market funds are much harder to tap as they have become significantly more conservative after the Primary Reserve Fund “broke the buck<a href="https://www.investopedia.com/terms/b/broke-the-buck.asp">”</a> during the financial crisis. Deposits now make up about 60% of bank funding, compared to 40 percent in 2007-08 – and those rates have been rising.
Nonetheless, the banks do have a good deal of market power. It’s legitimate for them to use that, unless they are violating competition law. That’s a matter for the Australian Competition and Consumer Commission, not the House Economics Committee.
One final note. To all those people who keep saying “rates have been cut a lot and it hasn’t done any good”: please search my name and the word “counterfactual”.
Richard Holden is professor of economics, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">here</a>.
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Vital signs: only the banks know

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Of all the real estate issues regularly mangled by media, probably the most misreported is the one about first-home buyers and affordability.
Reliable information showing good affordability levels (outside of Sydney) are generally ignored in favour of the much-loved “The Great Australian Dream is Dead” storyline.
The numbers of first-home buyers are constantly misreported, despite the ABS warnings about the unreliability of the data and the reasons why FHBs are under-counted. 
More credible information, such as the quarterly surveys by NAB which show strong activity from first-time buyers, are shrugged off because it doesn’t fit the prevailing theme of an affordability crisis.
The growing tendency of first-timers to buy an investment property rather than a home is overlooked as a key factor, because it doesn’t suit that pre-determined headline.
And the whole issue of young adults delaying commitment is ignored as well.
It’s pretty well established that young Australians are making different choices to those of their parents. Their preferences can generally be summarised as a deferral of commitment. Getting married, settling down, having kids and establishing a nest – all that can wait. Priorities these days include lifestyle, career and travel.
There’s lots of research showing this as a major demographic – the young adults who have put off family creation and home ownership until they’ve dealt with the travel bug and indulged other lifestyle priorities.
The latest research on this comes from Westpac, which found that 18 to 35-year-olds — known as Millennials — spent $11.3 billion travelling overseas last year — more than any other age group.
Generation X-ers — aged from 36 to 55 — were the most frugal spending $6.8 billion, followed by Baby Boomers who splashed out $9.8 billion.
Westpac’s Head of Young and Millennial Markets, Ashley Gray, says the decision to prioritise travel over home-buying doesn’t make the age group financially irresponsible.
“They’re very aware of their finances and are prepared to make sacrifices to pursue their passion,” says Gray. “We found that 70 percent of Millennials are saving for eight months before heading overseas on their trip.
“They’re also prepared to make sacrifices while they’re abroad so they’ll walk instead of getting a bus, skip meals and miss out on big tourist attractions.”
Lots of other research in the past couple of years have made similar findings about the different options young Australians are taking, compared to their parents – many of whom were married with kids, a mortgage and a car loan before 30.
But despite that, there’s still a high level of real estate buying activity by first-timers. It’s largely flying under the radar screen because relatively few first-time purchases are newly-built homes (the ones that get counted as first-home buyers by the ABS).
The latest NAB quarterly Residential Property Survey indicates that a third of sales of new properties across Australia, and 27 percent of sales of established properties, are made to first-time buyers (some of which are buying investment properties, rather than a home, as a first purchase).
The 27 percent of buyers of established homes who are first-timers aren’t counted in the ABS figures, because first-home buyers are identified in the lending statistics by their state government grants, which are now available only for newly-built homes.
I think those daily headlines about an affordability crisis, requiring top-level action by political leaders, are inaccurate and misleading. And when you dispassionately examine what the research tells us, comments about a whole generation being priced out of home ownership are rendered ridiculous.
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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Strong market activity from first-time buyers: Terry Ryder

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This week I listened in to a coaching call. It was a prominent company who have been selling their coaching/mentoring program for a while and I was curious to see what they offered.
It took me back to when I started my investment journey 15 years ago. I knew very little about property investing and all the different strategies you can use to grow your wealth.
With the help of hindsight, I reflected on just how I got going on my journey. I reduced it down to three important pieces:
1. Become educated, don’t overdo it and understand risk
After completing my intensive one-year training, I found there was always another course on offer. But I was chomping at the bit to put the things I’d already learnt to use.
I started to invest using one strategy well before my course was finished and ended up repeating it five times before moving onto another strategy. I found each time I completed a property transaction, I learnt more and as this experience built so did the quality of my deals. I found that taking action as quickly as I could, got me into the market faster and I could still study as I went.
But I also saw the opposite happen to others who did my course.  I watched as lots of people got sucked into a ‘vortex’ of needing more and more information before doing anything.
I thought that perhaps these people were worried about risk. Then I worked out, it was actually more of a personality thing. When I searched the thesaurus for the work “risk” this is what came up:
-        Danger
-        Possibility
-        Endanger
-        Chance
What jumps out at you when you read that list? 
The words I see are “possibility” and “chance”.
Property development has a ‘reputation’ for being risky.  Before I started learning about it I also thought it was risky. Why? Because someone had told me that. As I didn’t really know much about it, I held onto this belief.
When I leant more, I changed my belief from seeing development as risky to seeing it as exciting.
If you focus on the risks, you can’t see the opportunity. So I focus on the opportunity.
Over the years, we’ve found a way to derisk the property developments we project manage.
2.  Take massive levels of action
Get ready to work. Action speaks louder than words they say. Action is where you are going to really learn. I think some people underestimate just how much action you need to take to move forward.
Action can start with research then move to analysis then through to inspecting properties and making offers and then to negotiating the purchase and can keep moving into adding value to a property. Whatever your situation, there is always an area you can take action in. If you can’t get a loan, find a finance partner. If you don’t have a deposit, find an equity partner, if you don’t have time or experience, find a project manager.
Do anything but make excuses. There will always be a reason not to take action if you let there be one. This is a classic excuse; “It’s not the right time, the market isn’t good”, believe me, there is always opportunity in the market - you just need to tailor your action to the market.
3.  Refine your process
Practise makes perfect!  Every property development we manage is a little different but our system is almost always the same. With over 100 developments behind us, we’ve refined our process to ensure we get the best from a development project for our clients.
Like when I started out, I repeated my first investment strategy (which wasn’t developing) 5 times before I moved on to another one. The reason I moved on was market conditions changed and so I found a better strategy that would work in all conditions. Property developing or adding value allows us to create equity through the development process. By doing this, we are building in a ‘buffer’ of protection.
Property developing is a very detailed process, there are many steps involved. Each step can be refined and so there’s always opportunity to fast track or fine tune a step which will in turn, impact on the entire process.
So there you have my top 3 tips to getting started on your property development journey. Don’t hesitate, get educated, take massive action, repeat and refine your process. Oh and there is one more…have fun!
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Three tips to get you started on your property development: Jo Chivers

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<div>There was a slight increase in the number of permanent settlers in Australia in the year to June, according to today's ABS figures. </div>
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<div>Most come from Asia, at 58.4 per cent in the year to June.</div>
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<div>Only 410 Brit settlers arrived in the month of June - crashing down from a record 2,560 in August 2007 to the lowest figure in the history of the data series. </div>
<div> </div>
<div>Not so many Kiwis are making the permanent journey across the Tasman either right now.</div>
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<div>With departures up over the past year, net permanent and long term immigration fell quite sharply to +262,800, the lowest figure since March 2007.</div>
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<div>It's another type of casualisation. </div>
<div> </div>
<div>Just as there are more part time jobs these days than there used to be, there are more part time migrants! Despite the slowdown, as I explored here the headcount in Australia is probably up by more than 400,000 over the last year, including a surge in international students.</div>
 Record visitors
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<div>The lower dollar has resulted in an epic boom in short term arrivals, to yet another all-time high of 7.84 million. And this figure is accelerating, up by 10 per cent over the past year. </div>
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<div>That said, the downward pressure impact of the lower dollar on short term departures (up to 9.67 million) may be beginning to fade. </div>
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<div>Most short term visitors come for holidays (3.91 million) or to visit friends and relatives (2.04 million).</div>
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<div>No surprises that June saw yet another monthly record in the number of visitors from China and Hong Kong,</div>
<div> </div>
<div>There has been a stunning 21 per cent increase in annual visitors from China, Hong Kong, and Taiwan, to a record 1.54 million (a rip-snorting 13-fold increase from 1991). </div>
<a href="/images/2016/08/05/A4.jpg" target="_blank"> Click to enlarge</a>
<div class="separator"><img src="/images/2016/08/05/A4.jpg" alt=""></div>
 Meanwhile 469,800 education arrivals in the year to June was 14 per cent higher than one year ago. <a href="/images/2016/08/05/A2.jpg" target="_blank">Click to enlarge</a> <img src="/images/2016/08/05/A2.jpg" alt="">
<div>Recall that the visa rules for international students were relaxed effective 1 July, so these figures will likely accelerate in the second half of 2016.</div>
The wrap
<div>As you were, really.</div>
<div> </div>
<div>Fewer long term and permanent migrants to Australia - particularly from the United Kingdom and New Zealand - but record short term arrivals and ever more Chinese visitors (with more to come when the changes to student visa rules kick in as the year progresses). </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Record Chinese visitors again: Pete Wargent

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<img src="https://counter.theconversation.edu.au/content/63393/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Will competition in the superannuation system improve efficiency, or is this an ideological argument extended beyond its usefulness?
If more competition would promote efficiency, what design and policy issues need to be addressed to accommodate the changes?
The Productivity Commission’s draft report on superannuation’s efficiency and competitiveness seeks to address whether increased competition will, in fact, drive efficiency, or whether this proposal is ideologically driven by either a belief in the free market or a desire to weaken the role of the unions in industry superannuation funds.
The Commission confronts this, saying that the role of competition is to drive efficiency, and is not an end in itself. Competition is justified only if it drives funds to become more innovative and efficient. An increase in the number of funds could lead to inefficiencies as smaller, potentially more innovative, funds would not have the economies of scale of bigger funds.
A number of participants in the consultation process made the case that competition may not lead to greater efficiency: the ACTU raised the concern that competition could weaken the superannuation system, noting failures when other services, specifically technical education, were opened to the market.
Other submissions discussed whether consolidation of the existing range of providers would improve efficiency; Fiduciary’s Friend thought this would detract from innovation, while the Financial Planning Associationand Financial Services Council thought that competition could incentivise underperforming funds to consolidate with more efficient funds.
Another perverse effect of competition could be to change the investment policies of superannuation trustees. If members were encouraged to switch funds, this could place stress on the liquidity of the fund. If funds retained more investment in liquid assets this would not only flow through to capital markets but would affect the returns of the fund.
The draft report does make the point that superannuation is a unique environment, so the usual frameworks for assessing efficiency need to take that into account. Specifically, superannuation is an instrument for government policy, and is compulsory. Member disengagement continues to be relatively high, as shown by the number of members who accept the default options both of their fund and of investments within their fund.
Although the introduction of MySuper with the Stronger Super Reformswas intended to increase efficiency and reduce costs, the behavioural effect could well be to further reduce member engagement with the superannuation system.
Since 2005 most employees have been able to choose their fund, but according to the PC report, about two thirds of employees remain in their default fund and less than one third switch their investment options within their fund. There are also about 20% of employees who are not able to choose a fund other than the default fund nominated in their award or enterprise bargaining agreement (EBA).
This contributes to a large number of agency relationships in the system: the employer acts as an agent for the members when nominating a default fund; there is a fiduciary relationship between the trustees of the fund and the members in respect of managing the fund; and many trustees outsource functions to external service providers.
Given the combination of member disengagement and the agency relationships, competition needs to be considered more broadly than facilitating member choice.
The report also discusses the relationships that arise at the wholesale level, including a range of services provided to the superannuation sector. Insurance is particularly in the spotlight here as many members are entitled to insurance benefits through their superannuation fund.
Superannuation trustees are able to obtain policies at far better rates than most individuals – although this has been under the spotlight recently as members find exclusions in their policies. The effect of competition in this area could be less efficient than the current system.
The Productivity Commission sets out a series of objectives for the superannuation system, that sit below the policy objective that the superannuation system is “to provide income in retirement to substitute or supplement the Age Pension”. These objectives include:
<ul>
<li>Competition that drives efficient outcomes through facilitating rivalry and contestability in supply and demand conditions and allowing suppliers to compete on adding value to members</li>
<li>Maximising net returns over the long term</li>
<li>Meeting member preferences and needs over the member’s lifetime</li>
<li>Providing insurance that meets members needs at the lowest cost</li>
<li>The Superannuation system complements a stable financial system</li>
</ul>
The development of these objectives is the first stage: the report goes on to refine the objectives into assessment criteria and indicators.
It is important that the superannuation sector operates efficiently as it is becoming an increasingly important retirement policy instrument and a major component of household wealth. This report has articulated a set of objectives that would strengthen the superannuation system and the faith that members have in their superannuation fund.
Helen Hodgson is associate professor, Curtin Law School and Curtin Business School, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/helen-hodgson-94553" target="_blank">here</a>.
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A competitive superannuation system: will efficiency gains follow?

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Market analysts believe First Home Owner Grant (FHOG) schemes should either be reviewed or abolished, according to a finder.com.au survey.
The <a href="https://www.finder.com.au" target="_blank">finder.com.au </a>survey is the largest of its kind in Australia. 
When asked about their views on first home owner grants and schemes across the country, 69 percent of experts said it’s time to review or abolish these schemes; 38 percent of respondents believe first home buyer grants and schemes should be abolished, while 31 percent say State and Federal Governments should review first home buyer schemes.
Finder.com.au insights manager,  Graham Cooke, said it’s important that first home buyers get a foot on the property ladder, but not at the cost of increasing property prices.
“If you live in a capital city such as Sydney or Melbourne, there is a very high barrier to entering the market in terms of the financial resources required to secure a property. While first home buyer grants may allow you to enter the property market sooner, they can also increase the funds going into the housing market, possibly driving up prices," he said.
“These grants also require buyers to live in the property for a specified time, and are therefore not available to first time investors who may choose to buy a property in a more affordable area, and rent elsewhere.”
Mr Cooke says there is a strong belief that First Home Owner Grant schemes need review.
“The general view is that these grants artificially inflate the price of new dwellings at the cost of the taxpayer," he said.
“The national homeownership rate has been declining and the First Home Owner Grant hasn’t solved Australia’s housing affordability problem. It could be time for the state and territory governments to review relevant schemes to provide greater accessibility for first buyers. Stamp duty discounts or land tax rebates may need to be revisited.
"First home buyers should be careful not to overextend themselves in the current low interest rate market. A buffer of 2-3 percent should be factored in on top of your current interest rate to allow you to service any future rate hikes comfortably."
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