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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RBA Governor Glenn Stevens' June 2016 statement
At its meeting today, the Board decided to leave the cash rate unchanged at 1.75 per cent.
The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for a number of emerging market economies. China's growth rate moderated further in the first part of the year, though recent actions by Chinese policymakers are supporting the near-term outlook.
Commodity prices are above recent lows, but this follows very substantial declines over the past couple of years. Australia's terms of trade remain much lower than they had been in recent years.
In financial markets, conditions have generally been calmer for the past several months following the period of volatility early in the year. Attention is now turning to some particular event risks. Funding costs for high-quality borrowers remain very low and, globally, monetary policy remains remarkably accommodative.
In Australia, recent data suggest overall growth is continuing, despite a very large decline in business investment. Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend. Labour market indicators have been more mixed of late, but are consistent with continued expansion of employment in the near term.
Inflation has been quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time.
Low interest rates have been supporting domestic demand and the lower exchange rate overall is helping the traded sector. Over the past year, growth in credit to businesses has picked up, even as that to households has moderated a little. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this.
Indications are that the effects of supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Dwelling prices have begun to rise again recently. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities.
Taking account of the available information, and having eased monetary policy at its May meeting, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and inflation returning to target over time.
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Apartment supply is an issue: RBA Governor Glenn Stevens' June 2016 statement

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The RBA cash rate decision came out at 2.30 today with the decision to hold rates at 1.75 percent.
Monetary policy decisions are expressed in terms of a target for the cash rate, <a href="https://www.rba.gov.au/statistics/cash-rate/" target="_blank">which is the overnight money market interest rate</a>.
CoreLogic head of research Tim Lawless said the RBA has left the cash rate on hold today at the historically low setting of 1.75 percent and mortgage rates are likely to remain at their lowest levels since 1968.
He said in making their decision the RBA is facing conflicting economic trends.  
"On one hand we have an economy that is growing at just over 3 percent per annum, low unemployment and a re-accelerating housing market," he said.
"On the other hand the RBA is confronted with a core inflation reading which is at a record low as well as the lowest wages growth on record.  While the decision to hold rates was widely expected, the prospect of a further rate cut later this year is still well and truly on the cards.  
"If the June quarter inflation data, which is out a week before the RBA’s August board meeting, provides another weak reading, the chances of a rate cut in August are high.  The turnaround in the pace of capital gains across the housing sector is likely to be a concern for the RBA. 
"CoreLogic reported a 1.6 percent rise in capital city home values last week, following a 1.7 percent rise in April. The stronger housing market conditions have been enough to reinflate the trend rate of growth which is something the RBA and the banking sector regulator are likely to be keeping a close eye on.  
"Strong housing market conditions probably wouldn’t be enough to block a further rate cut, however, if the renewed growth trend continues, there is the potential for a further regulatory response that could cool housing market demand while at the same time allowing monetary policy to stimulate the broader economy."
Laing+Simmons managing director Leanne Pilkington said interest rates need not drop any further.
"Most lenders passed on last month’s cut either in full or part. Strictly from a finance perspective, there’s never been a better time to obtain an affordable loan,” she said.
“But a low interest rate is just one piece of the affordability puzzle, and there are many other influences conspiring to keep a property purchase out of the realm of many young people.
“For first home buyers, the situation leading into the election remains unchanged, despite last month’s rate cut. Accumulating a deposit against the background of a less certain economic environment, a changing employment picture and the high cost of renting is more difficult than ever." 
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RBA holds at 1.75 percent at June 2016 meeting

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<div id="post-body-1296513112211267075" class="post-body entry-content">
<div>I recently visited the wildlife sanctuary at Currumbin, and it occurred to me that without the scores of Chinese visitors in attendance on the day, the place would have been four-fifths empty!</div>
<div> </div>
<div>As it was the attraction was absolutely packed to the rafters with camera-toting tourists. </div>
<div> </div>
<div>It's a trend that is being reflected right across Australia, with the number of visitors from China, Taiwan and Hong Kong continuing to multiply at a record pace. That's just one part of the Asian century story for Australasia. Meanwhile, a recently released report on global migration of the super-wealthy found that the two most popular cities in the world for net inflow of millionaires in 2015 were Sydney (4,000) and Melbourne (3,000). Australia is becoming a playground for wealthy Asians. As noted in these pages many months ago, though, perhaps the most significant change for Australia will be the record boom in international students, since this will in turn lead to higher permanent residency uptake. The government has announced that from 1 July 2016 - just a few weeks away - that there will be a series of important changes to the student visa programme. There will now only be one visa class only for international students, subclass 500, and under the new streamlined process three quarters of applications will be waved through in less than one month. International students with the requisite funds or income and English language skills will be able to apply for the new visa, including Primary School student applicants (from the age 6 or above) and their guardians or family members. This represents a very significant shift in policy. The rules have also been relaxed with regards to course duration and immigration risk assessment. As a result of the new changes, there could potentially be a huge increase in the number of Primary School age Chinese students and their guardians, with many ultimately going on to become Australian citizens. With a combined population of about 2.7 billion or so, there is boundless potential for uptake from China and India in particular.</div>
<div> </div>
<div>Immigration eases</div>
<div> </div>
<div>The latest ABS Overseas Arrivals and Departures figures to April 2016 rolling annual number of net permanent and long arrivals eased to +270,200, the lowest number since May 2007. </div>
 <div class="separator"><a href="/images/2016/06/07/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/06/07/A1.jpg" alt=""></div>
 <div>The impact of this will mainly be felt in regional Australia and in resources regions, with population growth in the largest cities continuing to expand at around 80,000 to 90,000 per annum. </div>
<div> </div>
<div>Some 59 percent of permanent settlers hailed from Asia in the year to April, with the volumes arriving from New Zealand and Britain having slowed markedly.</div>
 <a href="/images/2016/06/07/A3.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/06/07/A3.jpg" alt=""> <div>Rebalancing continues</div>
<div> </div>
<div>The lower dollar continues to drive tourist and other short term arrivals to record highs, with the 7.69 million short term arrivals over the past year being a punchy 9 per cent increase from April 2015.</div>
 <a href="/images/2016/06/07/A4.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/06/07/A4.jpg" alt=""> <div>Most notably, the number of visitors from China, Taiwan and Hong Kong continues to multiply at an extraordinary rate, up by a tub-thumping 21.2 per cent over the year to 1.49 million. The compounding effect of such a growth rate implies a doubling of that number within 3.5 years. Incredible stuff.</div>
 <div class="separator"><a href="/images/2016/06/07/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/06/07/A5.jpg" alt=""></div>
 <div>Most short term arrivals come for holidays (3.79 million), but more than 2 million now cite their main reason for travel as being visiting friends and family, thereby reinforcing the Asian connections. 
</div>
<div class="separator"><a href="/images/2016/06/07/A6.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/06/07/A6.jpg" alt=""></div>
 <div>After a rare blip last month, the number of education arrivals is now on the march again, with the 489,900 arrivals over the past year representing a romping increase of 17 per cent. And thanks to the streamlining of visa rules from 1 July 2016 the number of international students will likely begin to flow freely more or less in perpetuity.</div>
 <a href="/images/2016/06/07/A2-1.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
 <img src="/images/2016/06/07/A2-1.jpg" alt=""> This is another trend which is largely driven by China and India, and it is also heavily focussed upon the largest capital cities.  <div> </div>
<div>The wrap</div>
<div> </div>
<div>The significance of the unprecedented boom in Chinese tourism and students seems largely to be lost in the popular narrative, which continues to discuss economic malaise when the economy is growing at a faster pace than even the most bullish of commentators expected (an annualised pace of 3.6 per cent in the last six months reported).</div>
<div>
 It is true that net exports are leading growth, and certainly there has been concentration risk aplenty, but the international trade data confirmed that the pace of education, tourism and other services exports to China and other parts of Asia is accelerating.</div>
<div>
 No doubt there will be the usual shrill complaints from the anti-immigration lobby about the streamlining of entry rules for international students, but overall this should be be a material boost for the Australian economy - and indeed for the beleaguered new apartment market.  
</div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
<div> </div>
</div>
<div class="post-footer"> </div>
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New student visa rules set to boost property markets: Pete Wargent

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GUEST OBSERVER
After the Reserve Bank of Australia’s cut the cash rate to 1.75 percent in May due to unusually weak inflation, recent figures show GDP growth, in the March quarter, rose to 1.1 percent, higher than expected.
The unemployment rate remained steady at 5.7 percent, while the global economy continues to paint a motley picture. Relative to last month, the CAMA RBA Shadow Board’s policy preferences have become more hawkish; however, this reflects last month’s divergence between its preferred interest rate setting and the RBA’s actual decision. The Shadow Board attaches a 52 percent probability to a rate hold being the appropriate policy setting. The confidence attached to a required rate cut equals 11 percent, while the confidence in a required rate rise equals 37 percent.
Australia’s unemployment rate stood firm at 5.7 percent. The participation rate remained virtually steady at 64.8 percent. Nominal wage growth at 2.1 percent year-on-year is the lowest it has been in 18 years, reflecting slackness in the labour market and a replacement of high-wage jobs in the mining industry with lower paying jobs elsewhere in the economy.
Last month’s rate cut pushed the Aussie dollar four cents lower, relative to the US dollar; it is trading between 72 US¢ and 73 US¢. For the same reason yields on Australian 10-year government bonds have fallen to under 2.3 percent.
Domestic share prices rose to new highs. The S&amp;P/ASX200 last week closed above 5400, the highest since August 2015. Global stocks markets have been similarly buoyant.
Australian GDP growth was unexpectedly high in the first quarter of 2016, clocking in at 1.1 percent, compared to 0.7 percent in the previous quarter. At this rate, annual GDP growth for the 201⅚ fiscal year will equal around a healthy 3 percent.
The US economy is continuing to grow near potential but the most recent unemployment figures disappointed. Other countries are faring less well. Russia is hoping its economy will start growing again later this year while Brazil just announced its economy contracted by 5.4%, year-on-year, in the first quarter. China’s growth rate is expected to be between 6 percent and 7 percent; recent announcements by the Chinese government of large-scale infrastructure projects are no doubt meant to breathe new life into the Chinese economy. Europe’s economies are expanding modestly, Japan is standing still and there remains uncertainty surrounding the resilience and strength of the world’s developing economies, especially those carrying large debt burdens.
Consumer confidence, as measured by the Westpac/Melbourne Institute Consumer Sentiment Index, leapt from 95 in April 2016 to 103 in May. Business confidence, according to the NAB business survey, fell slightly from 6 to 5 in April. The AIG manufacturing index fell slightly, but the services index, also a leading economic indicator, rose.
The Shadow Board’s confidence measures have shifted considerably. It attaches a 52 percent probability (63 percent last month) that “no change” is the appropriate policy, an 11 percent probability (29 percent last month) that a rate cut is appropriate and a 37 percent probability (8 percent in the previous month) that a rate rise, to 2.00 percent or higher, is appropriate.
It must be borne in mind, however, that the Shadow Board, in contrast to the RBA which lowered the cash rate last month, preferred to keep the cash rate on hold in May. Hence, the current probabilities overall reflect a more hawkish stance relative to the RBA.
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 1.75 percent equals 24 percent (29 percent in May). The estimated need for an interest rate decrease has fallen from 29 percent to 16 percent, while the need for a rate increase has risen 18 percentage points to 60 percent. A year out, the Shadow Board members’ confidence that the cash rate should be held steady equals 14 percent (19 percent in May), while the confidence in a required cash rate decrease equals 16 percent (19 percent in May) and in a required cash rate increase 70 percent (61 percent in May).
<a href="/images/2016/06/07/Screen%20Shot%202016-06-07%20at%2010.28.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/07/Screen%20Shot%202016-06-07%20at%2010.28.31%20AM.png" alt="">
For more information, <a href="https://cama.crawford.anu.edu.au/rba-shadow-board" target="_blank">click here</a>.
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The nadir of the interest rate cycle is probably reached: RBA Shadow Board

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A poll by the property agency iBuyNew found by a narrow margin that 54 percent of respondents said the election was not influencing their decision on whether to purchase a property.
Some 46 percent of respondents to the online survey said they would wait until after the July 2 election because they wanted to weigh up the policies which will impact the real estate sector.
iBuyNew CEO Mark Mendel said one of the main concerns was the proposed removal of negative gearing on established properties by the Labor Opposition as well as the halving of the CGT discount for assets held longer than 12 months from 50 percent to 25 percent. 
Mark Mendel predicted prices will rise after the federal poll.
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jchancellor-FAypfDUnLy

Property 101: Has the election delayed purchasing of property?

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The most affordable property reported sold at the weekend auctions was a one-bedroom unit at 10/2-4 Elizabeth Street in Braybrook.
It was sold for $240,000 by Pagan Real Estate.
More than $230,000 was the <a href="https://www.domain.com.au/10-2-4-elizabeth-street-braybrook-vic-3019-2012790581" target="_blank">price guidance</a>.
It had been available for rent at $220 a week in 2013.
There have been sales of up to $260,000 in the block.
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jonathanchancellor-7SQnKwU6yx

Braybrook $240,000 one bedder the weekend's cheapest

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Construction has begun on DUO, the joint venture of Frasers Property Australia and Sekisui House Australia.
The joint venture has appointed construction company, Brookfield Multiplex, to deliver DUO under a $290 million construction contract.
DUO is scheduled for completion in early 2018.
More than half of the 5.8 hectare Central Park precinct has already been delivered.
The start of construction of DUO’s two towers on Broadway kicks off the fifth stage in the construction program of this $2 billion master-planned community in Chippendale.
The pair of buildings will be located on the corner of Broadway and Abercrombie Streets at the award-winning Central Park development in Chippendale.
Designed by one the world’s most awarded architecture practices, Foster + Partners, DUO will be Foster + Partners’ second residential building in Australia.
For more information, <a href="https://www.centralparksydney.com/live/duo" target="_blank">click here</a>.
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Duo construction begins at Central Park, Chippendale

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
The selection of Melbourne to participate in the international 100 Resilient Cities program sponsored by the New York-based Rockefeller Foundation generated a mix of hopes, expectations and concerns.
In a report released today, researchers assessing the program found a surprising degree of co-operation among the city’s many local councils. The result is the Resilient Melbourne Strategy, adopted this month, which marks a shift towards “whole-of-city” thinking.
In 2013, at the time of Melbourne’s selection, its fragmented governance was a concern. How could a framework for urban resilience emanating from the US be adapted to very different city governance structures operating in Melbourne? What could a single chief resilience officer (CRO) hope to accomplish in just two years across a metropolitan region with more than 30 local government authorities?
The Melbourne project began in earnest with the appointment of the CRO, housed at the City of Melbourne, in November 2014. A year later an RMIT University research team interviewed a wide range of people who were either closely involved with or clearly interested in the project implementation. Interviewees include those serving on the project steering committee, some who had attended a project briefing and some who had only been told about it.
<h2>Overcoming fragmented governance</h2>
It is fair to say the researchers were sceptical about what could be achieved in just two years to foster a city-wide approach to urban resilience. In Australia’s rather cumbersome, three-tiered structure of government it is hard to focus on metropolitan regions that fall somewhere between the responsibilities of state and local governments. Thinking about cities as a whole has only just entered the strategic thinking of our national governments.
Yet the researchers were pleased to find the project had generated unprecedented levels of co-operation involving 29 local government authorities in metropolitan Melbourne. The implementation process had met with widespread approval.
Each of the 100 cities now participating in the Resilient Cities Challenge is provided with a “City Resilience Framework”. This guides development of a specific strategy for the city.
<h2>Adapting to local conditions</h2>
The framework draws heavily on US experiences – especially that of New Orleans since the devastation of Hurricane Katrina in 2005. The Melbourne steering committee realised it would have to adapt the framework considerably to work in a city with 32 local councils.
In Toby Kent, the project initiators selected a CRO who had evident skills in motivation and negotiation. The researchers were told that the patient work involved in building collaboration across so many local government areas made the project stronger than it would have been otherwise.
The concept of urban resilience promoted by the Rockefeller Foundation urges cities to consider a wide range of potential “shocks” and accumulating “stresses”. The research found this approach promoted boundary-crossing dialogues. These exchanges involved people concerned with infrastructure planning, economic development, social care, community development and environmental protection.
Some of the interviewees expressed misgivings about the growing popularity of the concept of resilience in policy discourses. Despite this, the research findings suggest it does have a capacity to get people thinking beyond the normal boundaries of policy and practice.
<h2>Towards a more holistic view</h2>
In Australia, the concept of resilience has largely been associated with emergency management. However, the semi-structured research interviews tended to focus more on accumulating social, economic and physical stresses. These make the city as a whole more vulnerable, but are often neglected.
It was noted, for example, that urban planning can leave many people feeling socially isolated. One council has now applied “a lens of preventing family violence” into all areas of its work, ranging from infrastructure planning and economic development through to health promotion and community development.
The Resilient Melbourne project released a preliminary resilience assessment in June 2015. This was developed into the newly launched Resilient Melbourne Strategy.
Much of this strategy aims to “scale up” existing projects or initiatives. The aim is to demonstrate that these can be more effective on a metropolitan rather than localised scale.
Follow-up research will be needed to find out which elements of the strategy become embedded in the policies and practices of Melbourne’s local government authorities and the multitude or public and private sector organisations trying to ensure that vulnerabilities are addressed long before they become full-blown crises.
Importantly, the research found that the project was able to generate some innovative policy and practice dialogues and demonstrate the benefits of whole-of-city thinking.
Martin Mulligan is senior researcher, Globalism Research Centre, RMIT University and can be contacted <a href="https://theconversation.com/profiles/martin-mulligan-108697" target="_blank">here</a>.
Blythe McLennan is research fellow - Emergency Management, RMIT University and can be contacted <a href="https://theconversation.com/profiles/blythe-mclennan-8288" target="_blank">here</a>.
Tarnya Kruger is research assistant, Landscape and Environmental Sociology, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/tarnya-kruger-271311" target="_blank">here</a>.
All are authors for The Conversation.
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Has the 100 Resilient Cities Challenge benefited Melbourne?

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Patrick Gallagher and John Daly have sold PJ Gallagher’s in Leichhardt for $14.5 million to the hotelier Peter Walker.
Situated on the corner of Norton Street and Parramatta Road, it was the first venue co-owned by Gallagher and Daly.
It has been sold to raise capital for a larger as yet undecided joint project.
Gallagher and Daly completed a three-year, $2 million renovation on the hotel last year. The hotel also has 28 gaming machines and a 5am trading licence.
John Musca, national director of JLL Hotels &amp; Hospitality handled the sale.
“Much like the recent contested sales of the Royal Exhibition Hotel, Surry Hills ($19m) and the Duke of Gloucester Hotel, Randwick ($16.25m), PJ's is another quality city fringe hotel which deservedly attracted strong interest," Musca told The Shout.
Last month, JLL Hotels &amp; Hospitality also sold the leaseholds in the Liverpool Hotel and Corner Pub for Gallagher Hotels for a combined $12.5 million, so that the group can focus on freeholds.
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PJ Gallagher's Leichhardt hotel sold

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GUEST OBSERVER
With Melbourne driving 46 percent of Australia’s apartment development, it’s a good time to be a developer in the world’s most liveable city.
And in theory, it’s also a good time to be a purchaser as apartments flood the market, increasing stock and therefore theoretically driving down pricing. It’s the age old story of supply versus demand.
According to the Australian Bureau of Statistics, by 2020 Melbourne’s population will rise to five million, making it the largest city in Australia and sparking even more demand for more housing and apartments.
As a relative newcomer to the Melbourne property development scene, I’ve been striving to create innovative and affordable developments that provide people with access to purchasing property. Many of my friends work typical jobs, and I’d like to think they should be able to afford to live in said developments.
From my reading of the current situation and listening to debates play out in state and federal politics, it seems that access is currently at the core of the public debate and, more specifically, affordability to access.
I take the concept of affordability very seriously and in my position I’m fortunate to have control over providing reasonably priced property in the current market.
What is concerning from where I stand is the ability to deliver this. Hear me out because this is a very different point of view – one which isn’t discussed often in the public domain.
That is: the emergence of a new sub-market within the property market that is focused on acquiring land, receiving permit approval and selling without intention of going into construction.
While there are of course examples where the economy changes and you may not be able to build as planned, I think more and more permits are being sold and people are taking advantage of the demand for permit approval and selling at inflated prices.
This is where I find myself in a quandary. Of course, I agree with a free market and I applaud those who find new opportunities to create value out of the property market – this is innovative and entrepreneurial. 
However, as a developer who is trying to develop projects that are in the reach of everyday working people, I see how this practise limits what developers are able to do in terms of minimising the cost base of development.
If a vendor is selling at an inflated price, it creates a tricky situation for the buyers. The developer who purchases the site with the intention to build is forced to sell apartments at a higher price to meet their targets, which ultimately comes out of the purchaser’s pocket.
On the other side of the coin, selling at this inflated cost means local developers cannot afford to invest and that many of these sites can only be purchased by foreign developers. Therefore, the majority of the stock will be sold offshore to purchasers who can afford to buy at these inflated prices.
To put it very simply, let’s use the below example to articulate.
An original land owner has obtained a permit to build apartments on a site. Assuming the original holding cost is $10 million, the apartments could be sold to purchasers for around $8,000 per square metre.
The original land owner sees there is risk in developing and decides to sell the site to generate windfall profits with no associated risk. The site is then sold to another developer for $40 million. The new land owner will now have to on-sell apartments to end purchasers for perhaps around $10,500 per square metre in order for the development to provide a return.
As you can see, this trend is creating a vicious cycle. This begins with the permit approvals and leaves developers like us with no choice but to consider whether to follow the crowd, despite understanding the implications on affordability and local investment for the world’s most liveable city. 
With decent apartments in the city now all but out of reach of first homebuyers, it is now up to developers, agents, consumers and the government to intervene and look at limited restrictions that at least deters this flipping sub-market or to encourage developers to actually…develop.
Many people will fiercely disagree with my opinion on this sensitive topic, but this is out there now.
We should conduct ourselves for the future, not as a singularity.  
Mohan Du is founder and managing director at Capital Alliance Investment Group and can be contacted <a href="https://capitalalliance.com.au" target="_blank">here</a>.
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