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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Owner occupiers are capitalising on favourable lending conditions, with a flurry of industrial transactions in Brisbane.
The most recent was the sale of a light industrial site at 18 Raynham Street in Salisbury at auction for $2.1 million.
Western Australian-based Ampac Developments Pty Ltd snapped up the 4,047 sqm warehouse property.
Selling agent CBRE’s Sam Higgins, who brokered the deal along with Jack Pershouse, said the low interest rate environment was fuelling investor appetites.
“Auction bidders are comparing the rent they are paying with the loan repayments - and with fixed interest loans at under 6%, many companies are able to buy a building for 20% less than what they paying in rent costs,” Higgins said.
“With interest rates at 50-year lows, we are seeing strong demand for vacant buildings in the established suburbs of Rocklea, Acacia Ridge and Salisbury.”
Meanwhile, an industrial warehouse property at 29 Meadows Street in Coopers Plain also recently sold for $1.5 million at auction.
Located on a 4,022 sqm site, the property comprises a 1,300 sqm building and a hardstand area of nearly 2,500 sqm.
The purchaser was companies associated with the Hume family.
Pershouse said the market was gaining momentum, with a steady pipeline of transactions on the horizon.
“We are continuing to see an upturn in sales in the $1.5 million - $3 million sector of the market, while leasing transactions have also improved, particularly in the $80,000 - $130,000 net per annum range,” Pershouse added.
“Many investors are favouring industrial over residential property as the yields are net of 6% or better compared with residential returns which have been lower.”
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jonathanchancellor-7SQnKwU6yx

Low interest rates fuelling industrial deals in Brisbane

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Half-a-million dollars can still buy you two-bedroom dwellings in Sydney’s southern suburbs, according to property valuation firm Herron Todd White’s residential market report for July, despite the median dwelling price of $782,000 (CoreLogic, May 2016).
In the St George district in south Sydney, nearly 10 kilometres to the south of the CBD, $500,000 will enable the buyer to extend their options. 
Modest, original, older style 1960s to 1970s two-bedroom units with parking around Bexley, Rockdale and Kogarah will achieve average rental returns of $350 to $400 per week. With vacancy rates low and steady demand at this rental band, there are good investment opportunities available to those with the patience to seek them out. 
Within the Sutherland Shire, the buyer may need to extend to $550,000 as this price point will only stretch as far as an older style 1970s to 1980s one-bedroom unit of around 50 to 60 square metres near to the beach in Cronulla. A property on Elouera Road, Cronulla, sold in May for $530,000 and is described as a 1960s one-bedroom, one-bathroom unit within a renovated complex with an open car space. Renovated internally with a modern kitchen and bathroom it included a small balcony and detached store room. Expected rental return is approximately $400 per week. 
On the western fringe of the Shire region towards Sutherland, Kirrawee, Gymea and Miranda, entry level two-bedroom units are pushing towards the early to mid $500,000s. With many new developments planned along with a refurbishment of Kirrawee Village including a new shopping centre and hotel, demand for units in this area has been strong this past 12 months. A recent May sale in Auburn Street, Sutherland, for $502,500 is typical of the area. Described as an original 1970s two-bedroom, one-bathroom unit with single garage in an elevated ground floor position, the property has an expected rental of $400 per week. 
There is a level of caution in the market regarding the outcome of the upcoming federal election in early July. 
“We believe capital gain in 2016 will be slower than previous years although we confirm there has been solid price growth in this value band across the metropolitan area due to overall supply and demand from both investors and entry-level owner occupiers. A key issue yet to be resolved is the government’s proposal for negative gearing changes for investors and what the impact of that will be on the local market. Foreign investors are also likely to be hit with new State stamp duty and land tax charges applicable on purchasing property and the impact of that cannot be assessed until details are confirmed," says the report.
“Last year we touched on a few of the suburbs mentioned above which saw good growth over the past 12 months with a slight adjustment to the end of 2015. With strong rental yields they are still a great investment to add to your portfolio."
Property Observer found a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-kogarah-121738354" target="_blank">19/14 French Street Kogarah NSW 2217</a> that sold recently for exactly $500,000.
 
 
 
 
 
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Sydney's south offers entry-level two-bedroom units for $500,000: HTW 

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<div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
Investors or first-home buyers can still find dwellings around $500,000 in Sydney if they venture a little further from the CBD area, according to valuation firm Herron Todd White’s residential property market report for July.
Two such areas are East Sydney and the Inner West.  
</div>
</div>
</div>
</div>
East
After strong growth over the past 18 months, there is little property in the eastern suburbs that can be found in the $500,000 price range other than small studios within the CBD and smaller one-bedroom units around the city fringe suburbs of Potts Point, Chippendale, Elizabeth Bay and Surry Hills, according to HTW's property report.
With low vacancy rates and strong yields, they still represent good investments with rental yields on average around 5%. 
As an example, an art deco style studio unit with no car accommodation, updated kitchen and bathroom, timber flooring and combined living/ bedroom with a rental estimate of $450 per week, sold in Greenknowe Avenue, Elizabeth Bay in May 2016 for $452,000. 
Property Observer found another sale in nearby Potts Point — a studio at <a href="https://www.realestate.com.au/property-studio-nsw-potts+point-122657674" target="_blank">6/16 Macleay Street</a> for $450,000.
Inner West 
Similar to the eastern suburbs, this price point is limited to studio, one-bedroom units and very modest older style two-bedroom units with no car accommodation, according to HTW.
A semi-modern studio unit on Parramatta Road, Camperdown with car space and currently rented for $425 per week sold in May 2016 for $490,000. 
Following the railway line, Ashfield, Summer Hill and Haberfield have old style one-bedroom, one-bathroom units that are near to the $500,000 range and still providing good rental returns and low vacancy rates with the opportunity for capital appreciation if the purchaser has access to funds to fully renovate in the future.
Property Observer found a one-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-ashfield-122830018" target="_blank">2/74 Alt Street Ashfield NSW 2131</a> for $472,000, according to CoreLogic RP Data.
 
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prateek24-ezbwHMbNAk

Good yields characterise cheap units in eastern and Inner West Sydney: HTW  

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Lenders are flooding the home loans market with enticing honeymoon rate deals, which revert to much higher rates once the introductory period expires.
New data from RateCity.com.au shows there are more than two dozen lenders, and 71 variable home loan products, offering an introductory deal with some as low as 3.29 per cent for a six-month period before reverting to 4.79 per cent.
On a $500,000 30-year home loan this could result in monthly mortgage repayments being an extra $227, and over the life of the loan it could cost an extra $79,219 compared with a product offering a continuous rate of 4 per cent.
Peter Arnold, data insights director at RateCity.com.au, urged borrowers against being lured into these expensive products.
“These deals are basically a marketing ploy to get customers sucked into a longer-term deal,” he said.
“It’s also a trap for first homebuyers who are looking to get into the market desperately and aren’t thinking long term.
The majority of intro offers also charge high discharge fees to close the loan.
“There are 48 lenders currently offering ongoing variable rates under 4 per cent, and as low as 3.59 per cent,” he said. 
How a $500,00 intro deal stacks up over 30 years
 
<table class="x_MsoNormalTable" style="width: 539px; height: 96px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="280">
 
</td>
<td width="115">
Variable - low ongoing rate
</td>
<td width="110">
Variable - introductory rate
</td>
<td width="110">
difference
</td>
</tr>
<tr>
<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
         $2,187
</td>
<td nowrap width="110">
-$200
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
             $2,614
</td>
<td nowrap width="110">
$227
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$859,348
</td>
<td nowrap width="110">
 $938,567
</td>
<td nowrap width="110">
$79,219
</td>
</tr>
</tbody></table>
 
How a $300,00 intro deal stacks up over 30 years
 
<table class="x_MsoNormalTable" style="width: 556px; height: 55px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="280">
 
</td>
<td width="115">
Variable - low ongoing rate
</td>
<td width="110">
Variable - introductory rate
</td>
<td width="110">
difference
</td>
</tr>
<tr>
<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
         $1,312
</td>
<td nowrap width="110">
-$120
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
             $1,568
</td>
<td nowrap width="110">
$136
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$515,609
</td>
<td nowrap width="110">
 $563,140
</td>
<td nowrap width="110">
 $47,531
</td>
</tr>
</tbody></table>
 
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jchancellor-FAypfDUnLy

Caution urged with honeymoon rates for first home buyers

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Brisbane is the “good husband of capital-city property” – solid, safe, reliable but fairly unexciting – it has generally failed to fire at the level expected by most since 2012, say property valuation firm Herron Todd White in their July residential market report. 
The problem appears to be a continued lack of confidence with the deflation of the Queensland mining boom casting a grey fiscal pallor across the capital city. Employment is still reasonably soft and our really hot, hot, hot property years have always come on the back of increased interstate migration – and that’s still refusing to take off. 
For this reason, last year’s choices of property at the $500,000 price point are still applicable in many instances today, and worthy of consideration once more, say HTW in their report. 
Of course, while this says the market has been at, there’s a silver lining amongst these musings – it’s that Brisbane’s CBD-accessible suburbs remain relatively affordable. 
"For Brisbanites, anything outside the 10 kilometre radius is a bit of a trek into town, but of course spend a few years in Sydney (or London or Tokyo or any other international city), and you begin to get the idea that 10 kilometres is actually less than a serious jog for a fun runner. Of course, heading up to 15 kilometres breaks open the affordability, while only adding a touch more driving for the commuter," it says.
For dwellings outside 14 kilometres of the CBD, Algester has been one suburb that’s seen more interest in recent times partly due to the flow on from increased prices in Sunnybank Hills and Runcorn in the past 12 months. Algester also sits reasonably close to our pick suburbs from last year’s Lazy $500,000 issue – Eight Mile Plains and Runcorn. 
On the north side last year, we picked Brighton, Sandgate, Deagon, Boondall, Taigum and Bracken Ridge to find the sub-$500,000 stuff and a keen eye could still find detached housing options in this bracket and at these addresses. 
On the bayside, suburbs such as Redland Bay are still sub-$500,000 and there is a good level of interest, which bodes well for the medium term. 
Looking further afield in the south and suburbs like Marsden, Woodridge and Logan offer heaps of value with plenty of property around $300,000. These suburbs continue to appeal to investors at present given rents for highset three-bedroom, one-bathroom homes are approximately $360 per week at this price point – so yields are healthy. 
“Older style two-bedroom, one-bathroom units in Greenslopes and Coorparoo are still below $500,000 – actually most are closer to the $400,000 mark. This isn’t much of a change from last year when we were saying the same product could be found in the high $300,000s.
“So if you’d followed our call from last year, you’d have made a few thousand dollars in equity and still have the prospect of more growth in the medium term.” 
These suburbs appeal with good facilities and reasonable access to the CBD, although rental yields are starting to tighten and may continue to do so – particularly with Coorparoo Square due for completion in the next 12 months. 
“Last year, we were warning investors in our loudest possible voice to be extremely cautious of off-the-plan unit stock – and we’ve been proved correct. We continue to say that it’s a brave investor who takes a punt on this sector at present in oversupplied suburbs.”
Property Observer found a recently sold four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-algester-121998750" target="_blank">18 Mt Flinders Place, Algester, Qld 4115</a> for $499,000.
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Brisbane suburbs still affordable at $500,000: HTW property report 

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Miranda in the Sutherland Shire has fresh DA-approved plans for a 66 residential apartment development.
Located at <a href="https://www.realcommercial.com.au/property-land+development-nsw-miranda-502032710" target="_blank">1-3 University Road, 668A, 668 and 670 Kingsway</a>, the 2872 sqm site will feature the residential building as well as two large town-home-style ground-floor apartments with garden terraces and upper floors with views over Cronulla.
The apartment mix is approved for 27 percent one bedroom apartments, 71 percent two bedroom and 2 percent three bedroom apartments.
The development site is expected to sell for more than $12 million.
Knight Frank agents Dominic Ong, Tim Holtsbaum, Andy Hu and Adam Bodon are managing the sale on behalf of a private family.
Head of Asian Markets Dominic Ong said it is likely to attract locally-based Asian developers. 
“We expect this premium, DA-approved site to appeal not only to a traditionally locally-dominated market, but also to attract the attention of astute developers in the wider Sydney market looking to capitalise on a core development opportunity with strong fundamentals," he said.
“The site is located close to Westfield Miranda, which recently underwent a $475 million redevelopment, and features large-scale retailers including Apple, Uniqlo, David Jones and Myer."
According to Knight Frank’s Director, Residential Site Sales, NSW Tim Holtsbaum,this is a sought-after location which will appeal to local developers and investors as well as local Asian investors. 
“Miranda and the Sutherland-Shire area is a well-established owner-occupier market," Tim said.
"The residential apartments will appeal to a broad range of local investors, including families and those seeking to downsize to large, two-bedroom apartment – a continuing trend.
“This is a rare opportunity to acquire a DA-approved site within such close proximity to infrastructure – there aren’t many opportunities such as this to buy in the area.
"A developer could be in the market selling the units fairly quickly, given the existing approvals." 
“There’s also a marketing suite onsite that can be utilised by an incoming developer to sell the units, which will be useful during the residential sales process."
 
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j.ballantyne1990-6AQqhLzZaK

Sutherland Shire set for new 66 apartment development

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<h4> </h4>
Jean-Paul Gagnon, University of Canberra; David Carter, University of Canberra; Fanny Thornton, University of Canberra
 
Most of us know the story of what Salon’s Elias Isquith calls “Wall Street’s favourite disrupter”. Uber, the ride-hailing service run primarily through smartphones, is a global economic success story.
In 2008, it was but an idea held by Travis Kalanick and Garrett Camp. Today it is a profit-making “unicorn”. It was recently valued at US$62.5 billion.
How Uber came to be worth such significant sums is a question often posed.
Integral to its success was its speedy efforts at connecting riders with drivers through smartphones. This saw Uber become an on-demanddisruptor business. In the process, it has alluringly branded itself as a service “for the good of all” that puts “people first”.
Uber seemingly takes from over-priced taxis, facilitates livelihoods for its drivers, gives to the needy rider and sticks it to urban regulators – or so the story goes.
Much closer to the truth may be that when Uber isn’t wrapping itself in cloaks of communal good, it is busy trying to institute a monopoly on ride-hailing. It actively encloses what could be a more open city in which riders and drivers work to benefit city residents.
<h2>Now you’re open, now you’re closed</h2>
Uber “opens” cities to “close” them. We think this way because Uber is just another intermediary capitalist (like eBay, Airbnb and PayPal) that profits from the needs of typically urban people connected to the internet.
Uber is therefore an extension of capitalism and, because of that, can be understood as a business trying to maximise its market share.
Uber “opens to close” a city in three steps:
<ul>
<li>
to disrupt the existing taxi monopoly (a closed system) through marketing and paying fines incurred by its drivers;
</li>
<li>
to entice riders to download its app, drivers to “share” their car, and urban regulators to acquiesce to the popularity of the Uber service; and
</li>
<li>
to exclude ride-hailing alternatives through its maximised market share.
</li>
</ul>
 
The marketing Uber uses to disrupt the grip one or more taxi companies have on a city is to present a rich rhetoric of being the “alternative”, somehow “grassroots” and, most importantly, a “communal” choice for drivers and riders. It casts itself as a Robin Hood in the struggle against unjust, or simply outdated, urban regulators.
This branding, Uber’s cheaper price and its convenient app make it an alluring option for ride-hailers. So long, cabbie dynasty, this city’s now open.
But because Uber grows within the shell of the taxi industry all it really does is open a city to enclose it for its own benefit. It does this through consistent marketing to riders, but also by enticing drivers to partner with Uber with promises of higher pay and a be-your-own-boss mentality.
Uber also crows about creating tens of thousands of jobs and getting one million women into work. This helps to get regulators onside.
A city is “closed” when Uber’s enclosure is complete: when it has successfully disrupted taxis, changed ride-hailing regulation and has a city’s residents on board (so to speak).
We say closed because an “Uber city” is a city captured by intermediary (middleman) capitalism. Defeated taxis are creating their own apps, and alternatives abound. But Uber’s market dominance makes it very difficult for more meaningful alternatives to emerge.
Market dominance means the exclusion of competitors and the control of the means of production so that profits keep rolling in. “Capture your market” is a mantra for a reason. And that reason is because it works – it’s Capitalism 101.
<h2>An open-city alternative</h2>
The need to get around a city safely and conveniently shouldn’t be viewed as an opportunity for businesses like Uber to cash in. STML/flickr
A truly open city would be one where residents are invited, supported and backed by their city government to create their own ride-hailing apps.
Riders still get picked up for a fair price, drivers still get paid more, but profit goes into a public trust to ensure the apps provide good service but also to fund resident-specific projects, like bike roads fully separated from cars.
Not only will this keep jobs and money inside the city, but it also puts a vital transportation resource into the hands of city residents and not a foreign business.
The need to get around a city safely, conveniently and with as little carbon emissions as possible shouldn’t be viewed as an opportunity for businesses like Uber to cash in. It should rather be treated as a common pool resource.
Since the majority of people in cities still depend on cars and roads to get around, chasing the wrong incentives can lead to chronic traffic jams and a host of other problems.
City residents don’t want traffic jams; moving around is a vital part of their daily lives. Uber doesn’t necessarily mind traffic jams because of surge pricing and a rolling meter – it still makes money. Ironically, despite this conflict of interests, Uber is the US$62 billion Wall Street poster child and the open-city alternative is excluded.
Uber may open cities from taxi rackets, but it closes them off to the possibility of more radical and meaningful alternatives.
To read more from The Conversation <a href="https://theconversation.com/how-uber-opens-cities-only-to-close-them-59067?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20July%206%202016%20-%205178&amp;utm_content=Latest%20from%20The%20Conversation%20for%20July%206%202016%20-%205178+CID_f7988f9ce5c939534436cde1d2bfddde&amp;utm_source=campaign_monitor&amp;utm_term=How%20Uber%20opens%20cities%20only%20to%20close%20them" target="_blank">click here.</a>
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po-LsXgBTHBmX

How Uber opens cities only to close them

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Forecaster BIS Shrapnel this week used apartment oversupply as part of the justification for predicting (minor) price decline in some of our major cities over the next three years.
While I certainly share their concerns about over-building of high-rise apartments, I don’t agree that this means prices generally will fall in those cities.
Does a unit over-supply in inner-city Adelaide or Brisbane prevent house prices from growing in housing markets in the middle-ring and outer suburbs?
On the Gold Coast, past oversupply has resulted in key locations like Surfers Paradise having pricing levels lower than 10 years ago. But it hasn’t prevented inland housing suburbs from delivering price growth averaging 4-5 percent per year over the past decade.
So I expect price growth in housing markets in Brisbane, Adelaide, Canberra and Hobart – as well as the Gold Coast – regardless of the over-supply issue in the high-rise areas of those cities. I’m not expecting much from Sydney or Melbourne in the next few years, because those markets have passed their peaks and sales levels have fallen away dramatically, leading to price stagnation or minor decline.
The unit oversupply is a separate issue – and a serious one. It’s significant that lenders are including high-rise areas on blacklists, that developers are deferring planned projects and that vacancy rates are rising in key areas.
This week I updated vacancy rates for Brisbane inner-city suburbs for a seminar presentation. There has been a market blow-out in vacancies in all six suburbs I reference in that presentation. Most now have vacancies in the 5-6 percent range, according to SQM Research figures. 
In the space of three months, the vacancy rate for the Brisbane CBD has increased from 4.4 percent to 5 percent, while Woolloongabba is up from 4.8 to 5.5 percent and New Farm has increased from 5.3 to 6.1 percent.
These statistics will worsen as projects now under construction are completed and their apartments join the rental pool – because very few of the sales are being made to owner-occupiers.
Apartment markets with current or looming surpluses of stock make up half of the 10 markets highlighted in my No Go Zones report (the only half being regional areas impacted by the resources sector).
This really is one of the core issues facing the property industry. While the developer lobby keeps running the party line about dwelling shortages – despite two years of record building approvals pumped up by apartment projects – the big issue is the opposite problem of surplus.
It’s inevitable that, in some markets, vacancies will rise, rents will fall and values will be impacted.
As BIS Shrapnel senior director Angie Zigomanis says: “Nearly all capital cities are building apartments at record rates on the back of the recent strength in investor demand. As these projects are progressively completed, it is likely that there will not be enough tenants in a number of cities to support rents and consequently values upon completion.”
I’m amazed at how many people are still buying apartments in Surfers Paradise, inner-city Melbourne and inner-city Brisbane, and by the number of new projects seeking approval in oversupplied markets like Perth, Brisbane and Melbourne.
Across the key high-rise suburbs of the Gold Coast, Melbourne and Brisbane, 8,242 people have bought apartments in the past 12 months, including 1,588 in Surfers Paradise and 1,501 in the Melbourne CBD. 
Do these people not read? Don’t they have access to the Internet? The warnings from analysts, commentators, lenders and the Reserve Bank over the past 12-18 months add up to a deafening roar.
If you’re ignoring all that and still buying high-rise units off-the-plan in these markets - or if you’re oblivious to it because you haven’t done even the most basic research - you deserve to lose money.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="mailto:hotspotting@gmail.com">hotspotting@gmail.com</a>
twitter.com/hotspotting
 
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terryryder-YECXbqmri2

Apartment over-building doesn't mean prices will fall: Terry Ryder

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The Surfers Paradise home of the entrepreneurial, former Rolls-Royce car dealer David Baird and his wife, Marion is under contract with the sale through Ray White agents Sam Guo and Julia Kuo.

It is the <a href="https://www.realestate.com.au/property-house-qld-surfers+paradise-122694978" target="_blank">trophy home, Summer House</a>, which is credit as the Gold Coast's biggest residence.

They're looking at downsizing from the six bedroom, six bathroom behemoth on 2318 sqm on Cronin Island.

The mansion has three kitchens, a gymnasium, numerous spas and saunas, a 25 metre, four-lane lap pool and a 10 car basement garage.

Designed by Main Beach architects Mobb Thompson and Payne, the home was built 26 years ago for the president of Daikyo Shoji Yokoyama - the Japanese company behind the QT.

It was bought by video game designer Masafumi Miyamoto for $6,553,136 in 1997 - a Gold Coast record which stood for eight years.

He sold it to the Bairds for $8 million in 2004 despite having $13 million hopes.

The home featured in the film Crocodile Dundee, which cost the creators $35,000 in the 1990s to use the home for 10 days of filming.

It was also rented by Hollywood stars Sarah Michelle Gellar and Freddie Prinze Jr when they were making Scooby-doo.

They will move to their weekender, a five bedroom contemporary home on the Isle of Capri that they bought for $6.35 million in 2012.

David was the Australian head of US company Textron.

The Gold Coast Bulletin report the price was $11 million when bought by Celine Guan, wife of Junxiong Yang, owner of the Links Golf Course at Hope Island Resort.

<div class="story-intro">
It was the third highest sale on the Coast this year behind 159 Hedges Avenue which sold for $13.25 million and the $11 million sale of 107 Albatross Avenue. 

<h2>Other developments for sale on the Gold Coast</h2>

Shoreline, Surfers Paradise

[smartcode_project:default project_id=22057]

Shoreline is the latest Surfers Paradise tower to be created by Marquee Development Partners.

The boutique 27 apartment development across 17 levels offers residents a luxury unseen in the between Surfers Paradise and Broadbeach for a number of years.

Miles Residences, Kirra Beach

[smartcode_project:default project_id=27575]

The Miles Residences Kirra Point will be one of Kirra Point's most impressive towers when it's completed in 2023.

The development of 118 apartments is part of the redevelopment of the Kirra Beach Hotel. The brains behind the operation is the family-ran KTQ Group, led by Peggy Flannery, who are behind the award-winning Elements of Byron Bay.
</div>

 

 
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Summer House, Surfers Paradise sale

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An auction on July 29 will offer a prime Southbank site with a permit for a skyscraping residential tower.
The 54-56 Clarke Street, Southbank property occupies a prime corner site located within 100 metres of the Crown Casino complex.
It comes complete with a fully approved permit and plans for a landmark 74 level tower comprising 288 apartments.
According to Savills agent Clinton Baxter, who is marketing the property with Nick Peden, the sale by auction was aimed at providing total transparency for potential buyers together with an unconditional sale for the vendor within a defined timeframe.
"Developers can attend the auction with tremendous confidence knowing that they can bid for and buy a site poised for Melbourne’s next iconic project, one that, at 74 levels, will rise above all nearby towers and offer future occupants spectacular views in all directions,’’ Clinton Baxter said.
It will be hotly contested by local and off-shore developers..
The property will be auctioned onsite on Friday, July 29 at 11am.
 
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