<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>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.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>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.</p>

<p>"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.</p>

<p><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" /></p>

<p>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.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>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.</p>

<p>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.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>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.</p>

<p>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.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>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.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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;</p>

<p>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.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"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.</p>

<p>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.</p>

<p>A major focus of the design has been the public domain.</p>

<p>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.</p>

<p>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.</p>

<p data-end="239" data-start="66">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.</p>

<p data-end="442" data-start="241">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.</p>

<p data-end="661" data-start="444">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.</p>

<p data-end="909" data-start="663">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.</p>

<p><em>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></em></p>

<p data-end="1339" data-start="1019">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.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">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.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">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.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">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.</p>

<p><em>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></em></p>

<p><em>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></em><br />
&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

<p data-end="492" data-start="327">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.</p>

<p data-end="843" data-start="497">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.</p>

<p data-end="1109" data-start="848">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.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

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<p><span>GUEST OBSERVER</span></p>
<p><span>RISQ Group is currently working in and around the property services industry and has been very active in developing a service provider verification tool.</span></p>
<p><span>The new tool will enable consumers to immediately trust that a given provider has all requisite certifications. </span></p>
<p><span>The tool is called KNOWN and it is in advanced trials across several digital platforms. </span></p>
<p><span>While to date, we are focused on service providers such as tradespeople (e.g. plumbers and electricians), our business expertise stretches from national security vetting to education to finance, and we often work with established industry bodies to provide verification services to members, as well as to create efficient screening work flows. </span></p>
<p><span>For this reason, we think we believe we are positioned to add an additional dimension to some questions.</span></p>
<p><span> Rather than address each individually, we would like to offer a general perspective built around a single basic principle. That basic principle is that screening and verification must be considered as part of the life-cycle that operates relating to training and education, and which forms the basis of the improvements that you are currently contemplating. </span></p>
<p><span>Australia is in the midst of an employment shift, particularly as the resource sector continues to decelerate. This shift will see a substantial enlargement of the paraprofessional employee cohort. This group will increasingly be consumer facing, especially as digital platforms grow to connect providers directly with consumers. </span></p>
<p><span>As a result of this shift, the question of how qualifications and certifications are quickly, accurately and truthfully conveyed as part of the provider-consumer transaction will be paramount. As the consulting paper acknowledges, there is already "little apparent consistency" regarding educational requirements for property agents across jurisdictions. It is not a stretch to say the same lack of consistency applies to publicising education credentials. </span></p>
<p><span>It is critical that as educational standards are improved and clarified, that an efficient and transparent way of transmitting individual verifications to the marketplace is also found, or the credibility of the property management industry will suffer and consumers will not benefit from an improvement of standards. In fact, to quote from </span>the consultation paper, "The primary reason governments prescribe educational standards is to address a consumer detriment or risk." For this reason, we believe that it is imperative to consider how these educational standards will ultimately be transmitted and perceived in the marketplace lest consumer detriment persist or even worsen because of poor verification processes even in the face of higher education standards.</p>
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<p><span>Given how important competition principles are in balancing government overreach, after-the-fact screening and verification, consistently applied throughout the employment life cycle, will serve to prevent marketplace abuses (such as credential misrepresentation) that may prompt even greater future regulatory action. </span></p>
<p><span>We would also suggest that the application/accreditation processes itself should be reviewed for potential streamlining. According to industry sources, while training can be completed in as little as two days, it often takes six weeks for the OFT to process the application. The adoption of improved screening tools can reduce this lag time and get people into gainful employment faster, benefitting providers, consumers and the wider economy. </span></p>
<p><span>We are happy to speak at greater length on this subject and/or present the screening and technological context relevant to the current discussion. </span></p>
<p> </p>
<p><em> Nick Roberts is chief executive officer, RISQ Group and can be contacted <a href="https://%20www.risqgroup.com%20" target="_blank">here</a>.</em> <em>This is his submission to NSW Fair Trading on the Review of property industry training standards.</em></p>
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jchancellor-FAypfDUnLy

Government overreach and preventing marketplace abuses: Nick Roberts 

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<p><span>It is imperative that the new government moves quickly to set the long-term goals for superannuation.</span></p>
<p>It has been the Association’s long-term policy that the objective and underlying principles of superannuation should be enshrined in legislation, and what has happened over the course of this election campaign has simply reinforced our position. </p>
<p><span>It is quite clear that the election highlighted the fact that many in the electorate were unnerved by the changes to superannuation proposed by both major parties and are seeking certainty for their retirement planning.</span></p>
<p><span>Both major political parties were seen as moving the goal posts for ordinary Australians to build their savings to ensure a dignified retirement. This is despite the repeated calls from the public and superannuation industry for the ongoing tinkering with superannuation to stop. This is why it is critical to have a politically bipartisan framework for superannuation that is removed from both the budgetary and political cycles for the long term.</span></p>
<p><span>We need to have a sustainable and measured policy approach to people’s second largest asset, superannuation. which assists Australians to accumulate adequate retirement income savings for a secure retirement.</span></p>
<p><span>It is especially important at times of political uncertainty, such as what has happened with the federal election and Brexit, that people know that their retirement savings are secure.</span></p>
<p><span>The Association is ready to work “constructively” with the new Government, Opposition, and cross-benchers in the House of Representatives and the Senate to address the various superannuation policy issues that arose out of the last federal Budget.</span></p>
<p><span>It is also important to remember that our superannuation system is one of the world’s best retirement income systems and we need to understand the benefit it provides to our economy and national prosperity.</span></p>
<p><span>We are on the record in saying we believed the reduction in the concessional contribution caps were detrimental to the goal of encouraging people to be self-sufficient in retirement and that other budget changes were complex and disrupted many people’s long-term plans. We look forward to working with all parliamentarians to either change or ameliorate the impact of these changes.</span></p>
<p><span>It’s also important to note that there were some positive measures in the Budget that were overlooked to some degree, and we will be urging that they get enacted by the new Parliament as quickly as possible.</span></p>
<p><span>Among the positives, which the Association has long advocated, were the c</span><span>arry forward of unused concessional contribution caps, allowing people aged between 65 and 74 to contribute to their super without meeting the ‘work test’, and removing the ‘10 percent’ rule that allows all fund members to make deductible contributions to their super.</span></p>
<p><span> </span></p>
<p><em>Andrea Slattery is chief executive officer, SMSF Association and can be <a href="https://www.smsfassociation.com" target="_blank">contacted here</a>.</em></p>
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Election highlights need to set long-term super goals: Andrea Slattery 

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<p><span>Financial or economic risk is one of the greatest risks that exclusive buyers’ agents are faced with. They are dealing with a consumer who is arguably making the most significant financial decision of their lives. </span></p>
<p><span>One of the most important roles of an exclusive buyers’ agent is to secure and negotiate a property for their client at the best price and on the best possible terms. In order to do this, one requires many of the skills similar to that required and expected of a qualified property valuer. </span></p>
<p><span>Given this is the case, and a valuer requires something in the order of many years training at a minimum Diploma level, it seems at odds that the current market appraisal component of property services industry training curriculum is covered off in a class room environment over the space of a few days and without any practical application at all. </span></p>
<p><span>A perfect case in point of the lack of skill in this area is evidenced by the recent changes made in NSW to address underquoting practices. </span></p>
<p><span>1.2 Are there other issues that should be considered in assessing training standards? If so what are they? </span></p>
<p><span>It is not just the present day but also the future state of the real estate and buyers’ agent industry that should be considered when assessing training standards. </span></p>
<p><span>Raising the bar to enter and remain in the property services industry should not be seen as a negative proposition or short-term inconvenience. In the long term, higher training standards will serve the industry well by creating a more skilled, ethical and well-rounded property services professional. </span></p>
<p><span>Consumers will ultimately benefit from the end result, which will confirm excellent service practice rather than theoretical knowledge as the key differentiator between property services professionals. </span></p>
<p><span>In addition, lessons should be learned from other similar professional services industries such as financial planning and mortgage broking and the challenges they have faced and dealt with over the last few years. In particular, conflicts of interest have featured as a major challenge and brought some of the practices of those industries into question. </span></p>
<p><span>1.3 What do you think should be the minimum educational standard for each category and why?</span></p>
<p>In regards to the entry level Certificate of Registration requirement it is considered that this should be accompanied by a more robust curriculum that also incorporates an experiential component such as an ‘on the job ‘supervisory element.</p>
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<p><span>This could be a set number of hours prescribed per week/month/annum where work must be supervised by an appropriately qualified superior or peer. This approach would place an onus on a licensee to endorse (or otherwise) and develop an employee so that they become suitably qualified and build up their technical skills and experience over time. After training in the core curriculum and having the required number of supervised hours, only then could someone be eligible to apply for a real estate buyers’ agent licence. </span></p>
<p><span>In regards to the current licensing component, we believe buyers’ agent training should encompass the same number of the current modules that a full real estate licence entails, rather than the limited modules required at present. Understanding both sides of the real estate transaction is considered useful, even if not practiced, and thus the training should reflect this. </span></p>
<p><span>2.1 Although it is clearly possible to enter the property services industry without any experience, how often does this occur? </span></p>
<p><span>REBAA currently have three levels of membership for buyers’ agents: Full (minimum 24 months experience), Provisional (12-24 months experience) and Learner (new to industry and less than 12 months experience) with the majority of members being full members (91%). This is a reflection of REBAA membership only, however there are several buyers agencies being set up by principals and directors in NSW with little or no field experience in real estate, valuation or similar fields. Though currently legal, we believe this to be a concern for consumers and clearly needs to change. </span></p>
<p><span>2.2 What are the practical consequences of the absence of a time based requirement to enter the property services industry? </span></p>
<p><span>In summary, the consequences of having no time-based requirement to enter the property services industry include: </span></p>
<ul>
<li>
<p><span>A lower quality and calibre of buyers’ agent entering and representing the property services industry. </span></p>
</li>
<li>
<p><span>Higher risk of mistakes and poor behaviours emerging through professional negligence and misconduct. </span></p>
</li>
<li>
<p><span>Misunderstanding the role and perception of an exclusive buyers’ agent and what they do, compared with someone who may operate within a real estate sales office as a buyers assistant and call themselves a buyers’ agent </span></p>
</li>
<li>Poor consumer perception of the buyers’ agent and property services industry overall.</li>
</ul>
People without a property background or actual experience entering the property services industry pose a real risk to those they represent. We have heard of cases of mortgage brokers or fanatical property investors setting up shop as so-called “property experts” and not conducting adequate due diligence on the properties they recommend to clients.</div>
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<p><span>The key risks coming from a lack of time based experience may include: </span></p>
<ul>
<li>
<p><span>Over-paying on property </span></p>
</li>
<li>
<p><span>Selecting poor investment grade property or locations </span></p>
</li>
<li>
<p><span>Coercing clients to buy inappropriate properties </span></p>
</li>
<li>
<p><span>Not listening / understanding client needs (especially home buyer clients) </span></p>
</li>
<li>
<p><span>Inappropriate auction tactics or behaviour </span></p>
</li>
<li>Tarnish the reputation of buyers agents.</li>
</ul>
<p>2.3 What does time based experience achieve?</p>
<p>Time based experience provides a learning-by-doing approach. This provides real life examples and scenarios where skills can be developed and practised, within a supervisory situation under a licensed professional, rather than relying on theory alone. Field experience is vital to build up knowledge, develop skills and learn from more experienced buyers’ agents.</p>
<p>The benefits of time-based experience include:</p>
<ul>
<li>Exposure to industry best practice</li>
<li>More experienced buyers’ agent (property services) professionals</li>
<li>Greater chance of a better calibre, more experienced and professional buyer’s agent industry developing.</li>
<li>Consistency in quality and professionalism available to consumers</li>
<li>An industry where service and practical knowledge is the key differentiator for consumers when engaging a buyers’ agent.</li>
</ul>
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<div class="column">3.1 What needs do the current CPD requirements meet?</div>
<div class="column">
<br>The current time commitment of CPD requirements in NSW seems generally fair.</div>
<div class="column">
<br>In terms of content range and accessibility however, they do seem to specifically cater to real estate sales professionals rather than more specialist streams of the property services industry such as buyers’ agents.</div>
<div class="column">
<br>Under the current system, without relevant content for all property services professionals, the existing continuing professional development model risks being treated as a box ticking exercise rather than something that encourages professionals to learn and genuinely advance their skills within their relevant fields.</div>
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<br>3.2 What are benefits of CPD and what are the costs to business?
<p> </p>
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<p><span>The general benefits of CPD where course content is relevant, accessible and is delivered effectively include: </span></p>
<ul>
<li>
<p><span>Future investment in the industry </span></p>
</li>
</ul>
<p>More experienced property services professionals who can mentor future members</p>
<p>In terms of the costs to business of CPD these can include:</p>
<ul>
<li>down time where staff are unavailable whilst attending training</li>
<li>lack of return on investment (companies may pay for staff who then leave)</li>
<li>the actual economic cost (if paid for on behalf of staff)</li>
</ul>
<p>If CPD courses were more relevant for buyers’ agents it is considered that the costs to business would be more readily accepted, recognised and embraced.</p>
<p>3.3 What are the problems or issues with the existing CPD regime in NSW?</p>
<p>REBAA has identified the following problems with the existing CDP regime in NSW:</p>
<p>Limited CPD courses or training with content relevant to professionals practicing as exclusive buyers’ agents.</p>
<ul>
<li>There is an inherent assumption that all property services professionals start or stem from being a real estate sales professional</li>
<li>Lack of acceptance of non-property services industry delivered training as suitably meeting CPD requirements (e.g. improving general business skills, negotiation skills) which would arguably be better delivered by external providers outside of the property industry</li>
<li>Limited policing leads to complacency so an online system where property service professionals must log CPD attendance could be linked to renewal of licence. This is similar to a model that is adopted in New Zealand where a real estate licence will not be renewed if training is not logged.</li>
</ul>
<p>3.4 Are the current requirements relevant?</p>
<p>In their current form, the existing CPD requirements in NSW in regards to buyers’ agents are overall not considered entirely relevant for the reasons previously stated.</p>
<p>Whilst the time commitment required for CPD compliance seems reasonable for existing property services professionals, the content range and therefore suitability for exclusive buyers’ agents is currently lacking.</p>
<p>REBAA considers that barriers to entry should increase in the first 2 years of entering the property services industry by mandating a higher CPD commitment that includes an ‘on the job’ style supervised coaching/training component where technical skills are the focus.</p>
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<p><span>4.1 What are the current problems with the delivery and assessment of training for the property services industry? </span></p>
<p><span>There are a very limited number of providers who actually deliver specific training for buyers’ agents. </span></p>
<p><span>Lack of consistency and quality in the content and depth of specific training for buyers’ agents delivered by the limited providers. Typically it is delivered on-line via correspondence or by practising real estate sales agents. </span></p>
<p><span>At present, the delivery and assessment of training specifically aimed at buyers’ agents is entirely theory based with little or nil practical component required. </span></p>
<p><span>The current training requirements for a buyers’ agent are such that a person can obtain a buyers’ agent licence with no practical experience at all. </span></p>
<p><span>Whilst a course to obtain a buyers’ agent licence can be obtained in as few as 8 days, there are known cases where training providers delivering the content have shortcut the process to 3 days. This is a great shame and of significant concern for the industry and for those who attend. </span></p>
<p><span>4.2 What problems have arisen and what are the impacts on the industry? </span></p>
<p><span>Being able to act on behalf of buyers in a fiduciary role on what is often the largest financial decision of their lives requires professionals who are adequately trained, experienced, skilled and highly knowledgeable about the tasks they are performing. </span></p>
<p><span>Consumers need to have confidence that their representative has been trained accordingly to manage the buying process and all that it entails, in a professional and diligent manner. </span></p>
<p><span>The impact of inadequately trained, inexperienced or previously non-supervised agents being able to open a buyers’ agency and immediately act for buyers would include the following: </span></p>
<ul>
<li>
<p><span>Lack of consumer faith in an industry that is already viewed as poorly-trained </span></p>
</li>
<li>
<p><span>Higher legal risks in terms of professional indemnity and claims from clients </span>and relevant third parties</p>
</li>
<li>
<p><span>Buyers being poorly informed about the process and potentially over-paying </span>needlessly for a property</p>
</li>
<li>Receiving sub-standard service and results</li>
</ul>
4.3 What changes should be made to the delivery and assessment of training for the property services industry?</div>
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<div class="column">REBAA considers that consideration of specific training content suitable for the various streams of property services professionals should be more widely considered.</div>
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<p><span>This potentially would include relevant course content for buyers’ agents developed specifically by buyers’ agents through professional associations such as REBAA and REINSW and include practical components that are more relevant specifically to buyers’ agents roles. </span></p>
<p><span>Consideration/credit should also be provided to potentially recognise existing training delivered overseas (either on-line or face to face) developed for buyers’ agents in established markets such as the United Kingdom and the United States of America. </span></p>
<p><span>In these markets, the buyers’ agent industry is well established and advanced when compared with Australia. With the exception of local market knowledge and intricacies the content of available courses could be much better suited. </span></p>
<p><span>5.1 What are the key issues in relation to cross border operations of property and achieve? </span></p>
<p><span>There are local property services professionals practising as buyers’ agent that work in a particular geographic area that spans multiple states, specifically the NSW/Victoria and NSW/QLD state borders. </span></p>
<p><span>These professionals are currently required to obtain mutual recognition yet arguably are just as qualified as someone operating in one state. Rather than penalise these local operators, greater focus should be paced on interstate operators who have a faux presence in multiple states. </span></p>
<p><span>There should be a greater focus placed on training requirements and assessable demonstrated knowledge of the local regulations and property laws before interstate licences are effectively rubber stamped as mutually accepted. </span></p>
<p><span>5.2 What are the current barriers to achieving mutual recognition? </span></p>
<p><span>It would appear there are currently limited barriers to mutual recognition for buyers’ agents. In many states, the mere payment of a fee will secure mutual recognition of a real estate licence permitting someone to operate in another jurisdiction. </span></p>
<p><span>REBAA considers that greater emphasis should be placed on an applicant to be able to demonstrate they have the required local market knowledge before they can secure mutual recognition and practice in another jurisdiction. </span></p>
<p><span>5.3 How might we improve mutual recognition for auctioning of property and livestock? </span></p>
<p><span>REBAA does not feel this question is relevant to buyers’ agents.</span></p>
</div>
</div>
</div>
<p> </p>
<p><em>Rich Harvey is president, The Real Estate Buyers Agents Association of Australia (REBAA) and can be contacted <a href="https://www.rebaa.com.au" target="_blank">here</a>. This is his submission to NSW Fair Trading on the Review of property industry training standards.</em></p>
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Professional development model risks being treated as a box ticking exercise: Rich Harvey

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<p>Price increases in the Wollongong CBD market have pushed the price of most two bedroom units in well located developments over $500,000, according to the July residential market review from the property valuation firm, Herron Todd White.</p>
<p>The report found two bedroom units in older CBD complexes are going for around $400,000 with very few suburban houses around north Wollongong, Shellharbour, Shell Cove, Kiama and Geringong available under $500,000.</p>
<p>"Heading south and it’s common for tidy but older style houses to be available for under $500,000 in most established suburbs, however any modern or recently renovated dwellings are now mostly priced above $500,000 even in the traditionally more affordable suburbs such as Cringila, Berkeley, Dapto, Warilla and Barrack Heights," the report said.</p>
<p>"In 2015 we identified Wollongong CBD units and houses in Barrack Heights and Warilla as being the best buys for under $500,000. and we’ve seen strong market increases over the past 12 months and there hasn’t been a single region or residential property type that has performed poorly in this period.</p>
<p>"With such a small segment of the market now falling in the under $500,000 range we expect to see continued growth for these properties as they appeal to the largest range of buyers including first home buyers, investors and doer-uppers."</p>
<p>Property Observer found a four bedroom home in Warilla <a href="https://www.realestate.com.au/property-house-nsw-warilla-123029150" target="_blank">on the market for $399,000</a>.</p>
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FHB, investors and doer-uppers competing for reducing Illawarra market offerings: HTW

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<p>A pair of three bedroom homes can be purchased for around $500,000 in Mildura's suburbs of Irymple, Buronga and Gol Gol according to the property valuation firm, Herron Todd White.</p>
<p>HTW's residential market report for July said investing in these regions is sound, with the median house price in Mildura around $250,000.</p>
<p> "For this price it is possible to buy a 3-bedroom brick dwelling, probably with only 1-bathroom, that might now be 20 years old and with a dated appearance," HTW said.</p>
<p>"We suggest concentrating on one of the better parts of Mildura or the well regarded satellite towns of Irymple, Buronga or Gol Gol. These towns are within 8 kilometres of Mildura and generally track house values in Mildura. In one of these towns, $250,000 will most likely now be more than 20 years old and so some upgrading will eventually be required.</p>
<p>"For this reason, we recommend that investors ensure that, where possible, they hang on to some funds to allow a cosmetic upgrade at some future stage, and ideally prior to any future sale.</p>
<p>"Values in Mildura have remained stable over the past 12 months and while we aren’t forecasting any significant capital appreciation in the short term, we also expect that values will hold at least at their current levels. Some of the key local agricultural industries are enjoying stronger returns and this is expected to help underpin the local economy."</p>
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<p><span>"In the past 12 months the balance of supply and demand for rental accommodation has evened out, however vacancy rates are still low and gross yields have stayed at around 6 percent."</span></p>
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</div>
</div>
<p> Property Observer found a three bedroom home in Buronga (above) currently on the market with expectations <a href="https://www.realestate.com.au/property-house-nsw-buronga-120001497" target="_blank">between $190,000 and $209,000</a>.</p>
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Gross 6 percent yields in sub-$500,000 Mildura market: HTW

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<p>Property investors looking for an apartment for under $500,000 on the central Gold Coast are spoilt for choice according to the property valuation firm, Herron Todd White.</p>
<p>HTW's residential market report for July said potential buyers will need to be aware of body corporate costs, sinking fund balances and any extraordinary works however noted apartments under $500,000 can be purchased no more than 150 metres away from the beach.</p>
<p>"In this price bracket, two-bedroom units at Mermaid Beach would be a property our valuers recommend due to the beach being no more than 150 metres away, Pacific Fair’s recent upgrade and the lively café and bar scene.</p>
<p>"While there are many options available to purchasers with $500,000 to spend in the northern corridor growth suburbs of Pimpama and Coomera, if looking to invest money of my own, I’d be looking at more central Gold Coast areas in close proximity to the beach.</p>
<p>"This is partly due to the vast amount of new stock currently being developed or scheduled for development, as well as the over inflated prices charged for house and land packages which are the most common property type in this area.</p>
<p>"Detached dwellings still appear to be a better investment than units with agents reporting investors buying dwellings for land banking purposes in areas such as Labrador and Southport. These areas have possibly peaked for shorter term consideration. Investors in this case are looking for properties with higher density development potential for example duplex approved sites with dwellings that provide some holding return."</p>
<p>Property Observer found a two bedroom, two bathroom unit for sale on Mermaid Beach<a href="https://www.realestate.com.au/property-unit-qld-mermaid+beach-119994605" target="_blank"> for between $279,000 to $309,000</a>.</p>
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Coastline Gold Coast unit purchasers still spoilt for choice under $500,000: HTW 

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<p>Property in Adelaide is the most affordable mainland capital city according to the property valuation firm, Herron Todd White with a median price of $410,400 with a huge range of properties available around $500,000.</p>
<p>Herron Todd White's residential market report for July noted an increasing scarcity of detached dwellings in this price range within close proximity of the CBD, with the market for older units and townhouses regardless of location remains relatively flat.</p>
<p>HTW note Adelaide's suburb of Croydon Park has older style dwellings on larger blocks around the $350,000 to $450,000 range while newer housing typically sells in the $450,000 to $550,000 range.</p>
<p>"This area is increasing in popularity due to its reasonable proximity to the CBD, improved accessibility via the Torrens to Torrens roadway (under construction) and is a more affordable option than historically more appealing areas such as West Croydon and Woodville.</p>
<p>"Further west, the suburb of Largs North features a mix of housing from the 1940s to 1970s with increasing in-fill development. The area is situated within close proximity of local beaches and the Port Adelaide area.</p>
<p>"It is a more affordable beachside suburb compared to suburbs such as Glenelg and Brighton which are situated further south. The current median price for detached housing is $416,000 with an average yield of 4.4 percent."</p>
<p>Property Observer found a three bedroom home in Largs North (above) currently listed for sale <a href="https://www.realestate.com.au/property-house-sa-largs+north-122459690" target="_blank">for between $370,000-$395,000</a>.</p>
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Adelaide still the most affordable mainland capital city: HTW

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<p>International contractor Brookfield Multiplex has been hired by Greengate to build an $80 million aged care and retirement village in Sydney’s southern suburb of Kogarah.</p>
<p>The new St Patrick’s Green Aged Care and Retirement Village at 42- 48 Chapel Street will be a 21,000 square metre development and have three buildings. </p>
<p>It will comprise 105 independent living units and a 92-room residential aged care facility that can fit in 100 beds. </p>
<p>The village will have a communal lawn, café and terrace, lounge, theatrette, dining, hair salon and gym. </p>
<p>Construction is scheduled for completion by late-2017. </p>
<p>The site neighbours St Patrick’s Catholic Primary School and is on the former Bethany College site, where the old college buildings were recently decommissioned for the new project.</p>
<p>David Ghannoum, regional managing director NSW at Brookfield Multiplex, said the St. Patrick’s Green Aged Care and Retirement Village was another addition to its experience in building aged-care facilities. </p>
<p>The contractor is already working on two others — The Terraces in Paddington and the Mark Moran seniors living village in Vaucluse, said Ghannoum.</p>
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Brookfield Multiplex to build $80 million aged care facility in Sydney’s Kogarah

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<p>Developers New Hope VIMG will launch stage 2 of its new $600M The Landmark St Leonards north of Sydney this Saturday which includes four penthouses and 'sky homes' on levels 30 to 44.</p>
<p>The Landmark is designed by A+ Design Group with 54 percent of property already sold and will feature a public art space, bars, restaurants and high-end boutiques.</p>
<p>The development, when complete, will feature 475 apartments over 46 floors.</p>
<p>A VIP launch for stage 2 has been scheduled for July 9 2016. Demolition begins this month (July) with construction beginning early 2017.</p>
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<p>Sizes of apartments (square metres internally)</p>
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<p>Studios </p>
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<img src="file:///page2image23056" alt="page2image23056" width="0.480000" height="0.480000"><div class="layoutArea">
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<p>40-42 m2 </p>
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<img src="file:///page2image24640" alt="page2image24640" width="0.480000" height="0.480000"><div class="layoutArea">
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<p>$661,000 – $755,000 </p>
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<p>1 bedroom </p>
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<img src="file:///page2image27688" alt="page2image27688" width="0.480000" height="0.480000"><div class="layoutArea">
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<p>55-82 m2 </p>
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<img src="file:///page2image28976" alt="page2image28976" width="0.480000" height="0.480000">
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<p>$903,000 – $1,100,000 </p>
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<p>2 bedroom </p>
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<p>81-96 m2 </p>
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<p>$1,395,000 – $1,920,000 </p>
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<p>3 bedroom </p>
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<img src="file:///page2image34384" alt="page2image34384" width="0.480000" height="0.480000"><div class="layoutArea">
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<p>121-149 m2 </p>
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<img src="file:///page2image35968" alt="page2image35968" width="0.480000" height="0.480000"><div class="layoutArea">
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<p>$3,085,000 – $4,020,000 </p>
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<p>Penthouses </p>
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<p>230-330 m2 </p>
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<img src="file:///page2image39944" alt="page2image39944" width="0.480000" height="0.480000">
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<p>$3,000,000 – $10,900,000 </p>
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<img src="file:///page2image41744" alt="page2image41744" width="0.480000" height="0.480000"><br><br>
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<p>For more information, <a href="https://www.thelandmarksydney.com" target="_blank">click here</a>.</p>
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The Landmark St Leonards to launch stage 2

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<p>Units in Newcastle, the NSW Central Coast and the Gold Coast are at market peak according to the July property clock from HTW.</p>
<p>Coffs Harbour is nearing its peak unit price market.</p>
<p>Sydney is still rising while Canberra is in decline.</p>
<p><a href="/images/2016/07/05/Screen%20Shot%202016-07-05%20at%2012.37.15%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/05/Screen%20Shot%202016-07-05%20at%2012.37.15%20PM.png" alt=""></p>
<p> Apartments in the gold Coast were at the top of the property cycle for last month, according to HTW.</p>
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