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>
Childcare chain Guardian Early Learning Group has recently leased two properties in inner-city Melbourne on long-term contracts in deals brokered by Colliers International.
In the latest leasing deal, Guardian has secured a major 2,950 sqm site on Hoddle Street in Richmond. The 15-year deal was brokered by Colliers’ Matt Cosgrave and Ash Dean.
“This property, which had been vacant for six years, will now be turned into state-of-the-art childcare centre,” Cosgrave said. 
“It is a sizeable, prominent site which has been approved for use as a childcare facility to help address the growing demand in the area.” 
This deal follows on from Guardian’s commitment at 101 Collins Street in the CBD for a property on 2,186 sqm.
Cosgrave said Colliers International was seeing strong demand for childcare services closer to inner city workplaces. 
“End-of-trip facilities such as showers and bike storage were once rare in an office building – now they are seen as standard inclusions,” he said. “Now lifestyle factors such as childcare and co-working space are becoming an increasingly viable option to attract quality tenants to a building.”
“Businesses are increasingly trying to make it easier for parents who work in the CBD and city fringe locations to drop off and pick up their children on their way to or from work. Not only does this help employees maximise their work day and increase efficiency, it makes their daily lives easier at the same time,” he added.
</body></html>

prateek24-ezbwHMbNAk

Childcare provider leases vacant Melbourne building for modern facility

<html><body>
An Italian restaurant and bed &amp; breakfast property in Adelaide Hills is up for sale through private treaty.
Located in historical Kanmantoo in South Australia, the 14 Old Princess Highway property comprises an authentic Italian restaurant seating up to 120 guests, along with two newly established bed and breakfast villas. 
There is also council approval for another five villas and a wedding/function centre for 150 guests. 
Colliers International’s Chet Al and Oliver Totani been appointed to sell the property. 
“Formally the Britannia Hotel, the property was built between 1848 and 1850, and extended around 1863 for operation as a boot maker,” said Al.
“The property is now operated as a tourism and hospitality venue, comprising a 263 sqm restaurant, 109 sqm living area and two bed &amp; breakfast cabins. The Osteria Sanso restaurant was established more than 13 years ago and has now been family owned and operated since day one.”
The property also has a three-bedroom owner’s residence.
</body></html>

jonathanchancellor-7SQnKwU6yx

Restaurant in idyllic Adelaide Hills goes to market 

<html><body>
The Adelaide office market has about 1.6 million square metre of lettable space.
The CBD precinct, bound by North, West, South and East Terrace, accommodates nearly 1.4 million square metres of office space and is the sixth largest CBD office market in Australia, according to Savills' CBD Office Market Briefing for the second quarter of 2016.
Outside of the CBD, lettable office space is classified as Fringe and is predominantly B and C grade office accommodation. 
In the 12 months to June 2016, Savills identified approximately 90,000 square metres of leasing activity in the central Adelaide office market, including Adelaide CBD and Fringe areas. Although this an increase on activity levels 12 months prior, it is close to the five year average of approximately 87,000 square metres.
The majority of these leases (approximately 60 percent of the volume identified leased) were in the Adelaide Core precinct. Around 60 percent of the deals reported in the 12 months to June 2016 period were new tenants, while approximately 37 percent were renewals, with the balance sub-lease and pre-commitment deals. Of the 90,000 square metres identified leased in central Adelaide in the 12 months to June 2016, the ‘Government and Community’ dominated activity by volume of space leased. However, the ‘Property and Business Services’ sector had the greatest number of transactions.
A selection of recent leasing transactions is displayed in the tables below.
<a href="/images/2016/07/22/Adelaide-CBD%20office%20lease.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/22/Adelaide-CBD%20office%20lease.png" alt="">
Savills’ Adelaide Lease Expiry Report analyses a database of lettable floor space in the CBD and fringe office markets. As at the June 2016 report, it is estimated that an average of 105,000 square metres of leased space in the CBD will come up for renewal each year for the next three years.
Around 40 percent of this space is leased by the ‘Government &amp; Community’ sector and Industry’ sector, one of Adelaide’s largest occupiers, however, more than 50 percent of space due for expiry over the next three years is a combination of the ‘Property &amp; Business services’, ‘Mining &amp; Utilities &amp; Industry’ and ‘Finance and Insurance’ sectors.
<a href="/images/2016/07/22/Adelaide-CBD%20office%20graphic.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/22/Adelaide-CBD%20office%20graphic.png" alt="">
In the short-term there is likely to be ongoing demand from tenants seeking to rationalise existing space, as well as from those seeking expand or upgrade into new space. A number of firms have sought to rationalise space requirements through relocation strategies, including the consolidation of separate tenancies to increase business continuity and lower costs. Others firms have upgraded and taken on expansion space.
The largest example of this includes the Department of Water and Natural Resources who has consolidated staff from two sites, including Chesser House at 91-97 King William Street and 1 Richmond Road, Keswick, into one tenancy at 81-95 Waymouth Street. The building had previously been occupied by the Australian Taxation Office before they relocated to their new premises in 2013. An internal upgrade was completed recently. The State Government will occupy the top five floors, with the balance, some 6,000 square metres, seeking prospective tenants.
Bupa has taken one floor in the new 50 Flinders Street development to consolidate offices.
The Administrative Appeals Tribunal (Government) has committed to lease two floors at 1 King William Street in a rationalisation strategy, reducing space requirements by about 500 square metres in the move. UniSuper has also leased a part-floor in 1 King William Street, understood to be slightly larger than their premises in 80 King William Street.
In a more recent deal, Hudson has relocated from 75 Hindmarsh Square to 101 Pirie Street, similarly rationalising about 500 square metres in the move.
Morgan Stanley has also relocated, moving from 115 Grenfell Street to 2 King William Street recently, although only reduced space requirements by about 100 square metres.
As at June 2016, net face rents in Adelaide CBD typically range from $395 to $460 per square metre per annum for Premium Grade, $330 to $410 per square metre per annum for A Grade and $265 to $335 per square metre per annum for B Grade. In Adelaide’s Fringe, as at June 2016, net face rents typically range from $330 to $355 per square metre per annum for A Grade and $270 to $300 per square metre for B Grade. Since Q2 2015 incentives have been stable and net effective rental levels are showing signs of growth, albeit at low levels.
</body></html>

Adelaide CBD is the sixth largest CBD office market in Australia: Savills

<html><body>
Investors splashed nearly $18 billion on Australian office property in the 12 months to June -- up almost 35 percent on the five-year average -- with foreign investors taking the lion’s share in CBDs, according to Savills Australia’s latest research.
Office sales in Australia have seen year-on-year growth since 2012 and the trend is likely to continue because of Australia’s safe haven status and high yields, says Savills. 
Sydney had the most transactions by value at $4.6 billion, or 47 percent of CBD office sales nationally, while Melbourne led on the number of deals at 28. 
The $17.9 billion total, comprising $9.8 billion worth of CBD office transactions and $8.1 billion worth of non-CBD transactions, was up $4.6 billion on the $13.3 billion, five year average, with the sale of 253 properties, also up on the five year average of 234.
<a href="/images/2016/07/29/CBD%20sales%20bar%20graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/29/CBD%20sales%20bar%20graph.png" alt="">
Savills national head of Research, Tony Crabb said “there is no reason to believe we won’t see the upward trend continue given the current global economic and political status quo”. 
He added that off-shore investors further stamped their footprint in the Australian office market with $8.6 billion of the total sales (48 percent) and 68 percent of CBD purchases - $6.6 billion – from 44 transactions. 
Foreign investors also figured prominently in non-CBD sales purchasing 25 percent of the stock sold for $1.9 billion.
<a href="/images/2016/07/29/CBD%20sales%20pie.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/29/CBD%20sales%20pie.jpg" alt="">
Crabb said market yields averaged 6.15 percent for CBD premium grade buildings, 6.9 percent for CBD A grade buildings, and 8.3 percent for CBD B grade office buildings while yields averaged 7.28 percent for CBD fringe A grade buildings and 8.3 percent for CBD fringe B grade buildings.
Savills director, Cross Border &amp; Capital Transactions, Ben Azar, said Australia would continue to see massive foreign investment. 
“In an extremely low interest rate environment with global capital starved for yield, Australia is seen as a transparent secure market with some of the highest yields in the world. Sydney and Melbourne, especially, are seen as global gateway cities offering very good lease terms and strong covenants.
“As long as Australia’s economic and political environment remains stable, any turbulence in the US, UK and Europe will mean more offshore capital will be attracted to Australia because of its safe haven status, transparent market practices and growth potential,’’ Azar said.
Further yield compression expected
He said with interest rates forecast to stay lower for longer and with a huge amount of capital chasing very few opportunities, he expected further yield compression and for bond-like property yields to remain very tight. 
“As long as interest rates and bond yields are low or dropping, the scope for further yield compression is real. The thirst for yield will drive money into property and simple demand and supply laws will mean yields must compress,’’ Azar said. 
He said while Sydney and Melbourne remained investor favourites, the cities like Brisbane, Adelaide and Perth are also gaining importance as investors chase yield.
Azar said rapidly improving leasing fundamentals, especially in Sydney, meant the income side was set for vast improvement allowing scope for more aggressive pricing from vendors and potentially driving further investment demand.
 
</body></html>

Australian office sales hit $18 billion in year to June; offshore buyers take 68 percent of CBD sales: Savills 

<html><body>
Interest rates are set to hit a new historic low of 1.50 per cent when the Reserve Bank Board meets tomorrow, a RateCity.com.au analysis of over 30 key economic indicators suggests.
The Board will consider of a number of factors including the Australian dollar, growth, the reaction to Brexit, how heated the housing market is and what our neighbours are doing.
However, there are three reasons the bank is more likely than not to pull the trigger.
Peter Arnold, data insights director at <a href="https://www.ratecity.com.au/" target="_blank">RateCity.com.au</a>, said last week’s much-anticipated quarterly inflation figures reflected a sluggish trend – coming in at 1 per cent for the year to June and 0.4 per cent for the quarter.
“The RBA will be inclined to cut rates after Wednesday's sluggish inflation figures because when rates are cut, borrowers theoretically have a little more money to spend, which increases demand – and in turn the price – of goods and services,” he said.
“While the June unemployment figures showed a jump in the number of full-time employees, overall the labour market growth slightly undershot expectations.
“A rate cut tomorrow could help to stimulate growth and make room for more jobs in the market.
“The Federal Reserve’s decision to leave US rates on hold last week puts the pressure on Glenn Stevens to cut rates in August.
“Had the Fed hiked rates in July then in theory the US dollar would be higher and the Aussie dollar lower, effectively doing the heavy lifting for the RBA Board.
“Despite a last-minute drop before inflation figures were released, the relatively-high dollar will also add to the RBA’s woes,” he said.
On top of this, fixed home loan rates continue to tumble, with more than 600 rate cuts in June and July, Arnold said.
“On average, <a href="https://www.ratecity.com.au/home-loans/3-year-fixed" target="_blank">three-year fixed home loan rates</a> are 0.36 percentage points lower than variable rates and the gap between the two is the widest it has been in over a year. This suggests the lenders are anticipating another cut,” he said. 
</body></html>

Finder.com.au found 600 home loan rate cuts in June and July 2016

<html><body>
Project Zero received the Award for a House Alteration and Addition over 200 m2 at the Houses Awards last month. 
It also received two awards at the Queensland Architecture Awards. 
According to the Houses Award jury, Project Zero has living areas organised around a central courtyard, which is largely a green space, creating the feeling that you are living within a garden as well as solar-powered energy on the north-facing sections of roof, on-site water treatment, reclaimed building materials and vegetable gardens with chooks and a worm-farm.
According to Mr Brian Donovan, Principal BVN, the house consolidates the research embedded in precedent buildings where central outdoor spaces are used to organise the composition of interior rooms.
 “This is reflected in the way that the building elements have been pushed to the boundaries to create a major landscape area in the centre of the site,” he said.
</body></html>

Another design award for Project Zero

<html><body>
Developer Pointcorp sold out 50 percent of its residential development, Fabric in Brisbane's Teneriffe.
The weekend result saw the issuing of 35 contacts for a combined $23 million in sales.
"We were confident there is still a strong market in Brisbane for large quality apartments in exceptional locations and the weekend results confirm this," said Pointcorp director Godfrey Esmonde.
He noted the area has gone from being a heavy industrial region once dominated by heritage wool stores, warehouses and naval buildings to now undergoing a significant gentrification process with a modernised yet eclectic mix of heritage residences, dining and extensive commercial offerings.
"As one of the upcoming suburbs of the region, there’s a lot of promising commercial and residential activity occurring in the area.
Fabric is the only brand new development in the area, but takes inspiration from the patchwork of neighbouring wool stores and warehouses surrounding the area as well as NYC’s sleek loft conversions. 
"In a landmark position on the curve where the beauty of Florence Street meets the convenience of Commercial Road just 2.5 km from Brisbane’s CBD, Fabric’s architecture will be woven into Teneriffe’s vibrant social, creative, eclectic and cultural hub," he said.
</body></html>

jchancellor-FAypfDUnLy

Pointcorp secures off the plan sales at Fabric in Teneriffe

<html><body>
Sydney’s weekend auction success rate surged back into the 80s, just as the Reserve Bank board meets this week to consider a rate cut that could further ignite the market.
Slim stock levels have seen the Sydney clearance rate hit clearance rate highs not seen since the boom early last year.
There were around 494 weekend auctions held in Sydney, up slightly from 473 last week, but significantly lower compared to the 825 of one year ago.
The preliminary CoreLogic result of 80 percent represented the strongest clearance rate for the city so far this year, and a steep increase from 71 percent last week and also higher than last year’s clearance rate of 76 percent when the mid-year market was coming off the boil. 
The overall strength in the Sydney market has seen week-on-week results over 70 percent since the last week in April.
The strength in Sydney’s result was driven on the weekend by North Sydney and Hornsby (95 percent), Ryde (94 percent) and the Northern Beaches (92 percent).
The Sydney result helped to push the combined national capitals results above 70 percent again, up from last week’s 68 percent to 74 percent.
There was an increased level of activity across the capital city auction market with 1,585 auctions held compared to 1,329 auctions last week.
But activity continues to track lower than the corresponding week last year when 1,903 auctions were held, CoreLogic advised. 
While winter is typically a quieter season for auctions prior to the ramp up in Spring, Kevin Brogan at CoreLogic calculated over the past nine weeks, the volume of auctions held across the combined capitals has been around 20 percent lower than last year, largely driven by less properties being taken to auction across the Sydney market, despite the ongoing strength in the clearance rate.
Melbourne’s clearance rate also jumped to 75 percent this weekend up from 71 percent. There were 749 auctions held in Melbourne, up from 572 last week, and representing a similar level when compared to the 787 one year ago. The best performing Melbourne sub-regions this week were Outer East (83 percent) and Inner South (80 percent). 
The top and cheapest sales around the nation were in Melbourne.
It was a Malvern period house with modern extension which sold through Marshall White at $4.98 million.
There were five $4 million-plus bidders for the five bedroom Edwardian house at <a href="https://www.realestate.com.au/property-house-vic-malvern-123060590" target="_blank">17 McKinley Avenue</a> (above) which was announced on the market at $4.4 million. The home's extension was designed by architect Geoff Challis with its landscaping by Rick Eckersley. 
Andrew Hayne of Marshall White, said a couple moving back to Australia from the US were the buyers.
The weekend's cheapest auction result was a two bedroom unit at Melbourne's Albion, near Sunshine (below).
<div class="tg-tlc-storybody_intro">
<img src="/images/2016/08/01/Screen%20Shot%202016-08-01%20at%2010.10.41%20AM.png" alt="">
The <a href="https://www.domain.com.au/5-25-ridley-street-sunshine-vic-3020-2012877862" target="_blank">5/25 Ridley Street unit</a> fetched $190,000 when sold by Burnham Deer Park. It last sold at $10,500 in 1975. 
Sydney's top priced sale was $3.21 million at Blakehurst when the five bedroom at <a href="https://www.realestate.com.au/property-house-nsw-blakehurst-123064650" target="_blank">38 Walton Street</a> (below) was offered with redevelopment potential.
<img src="/images/2016/08/01/Screen%20Shot%202016-08-01%20at%2010.12.08%20AM.png" alt="">
</div>
 
A six bedroom house at Ascot in Brisbane fetched $3 million when <a href="https://www.realestate.com.au/property-house-qld-ascot-123002122" target="_blank">47 Palm Avenue</a> (below) sold. 
 
It was a 1993 Queenslander designed by architect Kevin Hayes.
<img src="/images/2016/08/01/Screen%20Shot%202016-08-01%20at%2010.13.08%20AM.png" alt="">
Brisbane held 152 auctions compared to 144 auctions last year and 139 last week. Preliminary results show 55 percent of auctions were sold, up from 51 percent last week and lower compared to last year, when 58 per cent of Brisbane auctions were successful.
There were 74 Gold Coast auctions this week with a preliminary clearance rate of 43.9 percent.
Adelaide was host to 106 auctions this week, with a preliminary clearance rate of 71 percent, representing a sharp rise in both the number of auctions held (68) and the clearance rate (56 percent) when compared to last week.
"Despite an overall fall in auction volumes across the capitals for winter so far this year, Adelaide’s auction activity has been reflective of the same conditions seen one year ago," Kevin Brogan said.
There were 33 Perth auctions held this week, 22 last week and 23 at the same time last year. This week’s preliminary clearance rate was 43 percent, up from 33 percent last week and higher than one year ago (40 percent).
The preliminary results show 75 percent of the auctions reported for Canberra this week sold, compared to 69 percent last week and 72 percent last year. There were 44 auctions held across the city this week, down from 52 last week and similar to the 41 held at the same time last year. 
 
</body></html>

Sydney's weekend auction success rate back into the 80s

<html><body>
GUEST OBSERVER
In a landmark ruling, the Supreme Court of Victoria has found that planning law, not strata law, is to govern short-term lettings of strata apartments.
Specifically, in Owners Corporation PS 501391P v Balcombe [2016] VSC 384, Justice Riordan found that a rule made to prohibit the use of a residential lot ‘for any trade or business’ in a strata scheme was invalid for these reasons:
<ol>
<li>The role of the owners corporation was confined to managing and administering the common property, and did not extend to restricting the use of a lot..</li>
<li>The rule was a substantial interference with the lot owners’ proprietary rights.</li>
<li>The strata law needed to clearly spell out clearly an intention to inhibit a lot owner’s use of their own lot for the rule to be valid - which it did not.</li>
</ol>
Background
The Watergate Apartments, Strata No PS 501391P is a mixed use development. It consists of 349 residential lots in two 16 storey apartment towers, erected upon a four storey podium which contains 12 retail lots and car park facilities. The plan of strata subdivision was registered on 28 June 2004. It is a residential Class 2 building under the Building Code of Australia, and therefore was not designed for the operation of a serviced apartment style business.
Ms Balcombe and Mr Slater utilise 14 apartments (1 owned, 9 leased, 4 available on a commission basis) to operate a Short-Term Letting business trading as ‘Docklands Executive Apartments’. In eight and a half years of operation, they have had over 3,500 bookings and 10,500 guests. They charge ‘executive’ prices, have minimum seven days stays, require photo identification and credit card details and can evict disruptive tenants immediately.
The City of Melbourne Council (the planning authority) consented to the use of apartments in the building for short-term commercial accommodation (serviced apartments) on condition that: a smoke alarm was installed in each bedroom; an emergency evacuation plan was affixed inside the entry doors; exit signs were placed in the corridors; and the tenants acknowledged the receipt of a safety/evacuation induction.
The proceedings were commenced by the Owners Corporation which sought restraining orders against Ms Balcombe and Mr Slater, alleging a breach of its rule (Rule 34) that provided:
The Proprietor or Occupier of a residential Lot must not use a Lot or the Common Property for any trade, profession or business (other than letting the Lot for residential accommodation to the same party for periods in excess of one month), nor permit any other person to do so, unless:
<ol>
<li>The person … is a full time resident of the Lot and only operates a home office …; and</li>
<li>The relevant planning scheme does not prohibit the relevant trade, profession or business to be carried on in a Lot; and</li>
<li>The Lot owner has obtained all necessary permits from the relevant authorities …</li>
</ol>
The Court’s finding that the Owners Corporation had no power to make the rule
The functions of an owners corporation are set out in section 4 of the Owners Corporations Act 2006(Vic). They can be summarised as:
<ol>
<li>to manage and administer the common property;</li>
<li>to repair and maintain the common property, fittings, fixtures, equipment and services relative to it;</li>
<li>to maintain strata insurance;</li>
<li>to keep records and issue certificates.</li>
</ol>
The powers of an owners corporation to make rules are set out in section 138 of the Owners Corporations Act 2006 (Vic), and are limited to the purposes set out in Schedule 1 of that Act. These purposes are relevant:
<ol>
<li>Health, safety and security – of lot owners, occupiers of lots and invitees.</li>
<li>Change of use of lots – which affect the insurance premiums payable by the owners corporation.</li>
<li>Behaviour of owners, occupiers and invitees on common property, noise and other nuisance control.</li>
</ol>
The Court found that the principal function of the owners corporation was ‘to own and manage the common property of the strata development’.
The Court found that the power of the owners corporation to make rules to prevent the use of a lot for an illegal or injurious purpose, to prevent a nuisance or hazard, or the behaviour of and noise created by tenants, was limited. It was not sufficient to support a general ban on Short-Term Letting on all lots. 
Health and safety issues and changes of use for a lot (an apartment), were planning matters for the Melbourne City Council to deal with.
Therefore the rule to outlaw use of an apartment for short-term letting was invalid as it exceeded the power of the owners corporation and interfered with the rights of the freehold owners.
As a result of this decision, an apartment owner in Victoria needs only planning permission to use their apartment for short-term lettings: Airbnb style short stays and service accommodation. They do not need permission from the owners corporation and any rule in place to restrict or prohibit that use is invalid.
Is the position the same or different in NSW?
There are subtle but significant differences in the strata law between NSW and Victoria:
<ul>
<li>In Victoria the owners corporation makes rules, in NSW it makes by-laws.</li>
<li>In both states, the common property is owned by the owners corporation (it used to be called the body corporate).</li>
<li>In NSW, under section 47(1) of the Strata Schemes Management Act 1996 (NSW), by-laws can be made generally ‘for the purpose of the control, management, administration, use or enjoyment’ of the lots or common property’, without limitation (see section 43), and with a right of appeal.</li>
<li>In Victoria, the rules are limited to the powers set out in Schedule 1.</li>
<li>Also in NSW, original by-laws which are lodged with the strata plan for registration can be broader than the section 47(1) powers, but are subject to section 49 restrictions which include prohibitions on by-laws which restrain leasing.</li>
</ul>
In NSW, the new Strata Schemes Management Act 2015 will commence on 30 November 2016. Section 136(1) is in similar terms to section 47(1) of the 1996 Act. Section 139 contains the section 49 restrictions, with some additions, including an override that a by-law must not be harsh, unconscionable or oppressive.
As a result, it is unclear whether the Victorian decision can be taken as a precedent to invalidate by-laws in NSW Strata Schemes which prohibit the use of lots for short-term letting.
Comments
The NSW Parliamentary Committee on Environment and Planning is currently conducting an inquiry upon the Adequacy of the Regulation of Short-term Holiday Letting in New South Wales. It would be most helpful if it were to indicate how the strata law should be clarified to deal with short-term lettings when it reports at the end of August 2016.
This matter needs to be addressed because of the requirement that all strata schemes review their by-laws within 12 months of the commencement of the 2015 Act.
My suggestions are:
<ul>
<li>That the planning authorities specifically provide for the regulation of short-term lettings for strata apartments in their planning policies.</li>
<li>That owners corporations be able to include a policy statement, which sets out their policy upon use of the residential apartments for short-term lettings, as an adjunct to their by-laws. This policy statement would not have the legal force of a by-law, but would be influential if an application were made to the planning authorities for approval to use an apartment for short-term lettings.</li>
<li>To assist in enforcement, the owners corporation should be given the power to assist the enforcement officers of the planning authority to prosecute contraventions of the planning laws.</li>
<li>If a short-term letting use is being carried on, with or without planning approval, the owners corporation should be entitled to levy a surcharge upon the strata levies payable for the apartment in question, to cover extra wear and tear, garbage, insurance premiums, visitor parking and water use.</li>
</ul>
Anthony J Cordato is lawyer, Cordato Partners and can be <a href="https://www.businesslawyer.com.au" target="_blank">contacted here</a>.
 
 
</body></html>

Property 101: Victorian strata and lot owner proprietary rights

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
GUEST OBSERVER
The last of the inflation reports – the producer price indexes – confirms the absence of inflationary pressures. 
The Reserve Bank Board can feel comfortable in cutting rates next Tuesday. The headline consumer price index showed annual growth at 17-year lows, underlying inflation is at record lows, imported consumer prices have fallen the most in four years and annual business inflation is standing at just 1.0 per cent.
The average of preliminary, intermediate and final demand indexes of domestic producer prices averaged growth of just 0.4 per cent in the June quarter – matching the consumer price headline and underlying readings.
The weak lending data removes yet another barrier to the Reserve Bank cutting rates. We can’t read too much into the result as Brexit and the Federal Election may have influenced lending intentions. But a fall in both personal and business lending is not a good look – especially with interest rates already so low. It was the smallest monthly lift in credit in 33 months. It was the biggest annual fall in personal loans in almost four years. And it was the biggest monthly fall in business loans in 3 1⁄2 years.
</div>
<div class="column">
<a href="/images/2016/08/01/Screen%20Shot%202016-08-01%20at%208.52.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/01/Screen%20Shot%202016-08-01%20at%208.52.42%20AM.png" alt="">
What is the importance of the economic data?
Private sector credit figures are released by the Reserve Bank on the last working day of the month. Credit is separated into three categories – housing, other personal and business. Private sector credit is effectively the amount of loans outstanding in the economy. If growth in lending is strong then it suggests that credit from financial institutions is freely available, underlying demand for assets such as cars and houses is firm and that the price of credit (interest rates) is attractive.
The producer price figures are important in flagging price pressures at an early stage. If business costs are rising, the risk is that these will be passed on in terms of higher prices of final consumer goods. The Consumer Price Index is regarded as the key gauge of economy-wide inflation. 
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
</div>
</div>
</div>
</div></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