One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

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

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

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

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

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

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

<html><body>
Victoria's regional city of Mildura sits in fifth position on CoreLogic RP Data's latest list for median gross yields with a gross yield at 6.4 percent.
Its yield sits considerably higher than the national average of 4.63 percent.
<a href="/images/2016/05/13/Screen%20Shot%202016-05-15%20at%208.36.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/Screen%20Shot%202016-05-15%20at%208.36.12%20AM.png" alt="">
Property Observer profiles Mildura from a rental perspective.
The median sale price of a unit in Mildura was $175,000 compared with a national average of $438,000, over the last 12 months, according to the data. 
The median price change over one year was 6.30 percent, beating the national average of 2.1 percent handsomely.
Median rent for units was $215 pw against a national average of $390.
Property Observer looked up a few units around the median range available for renting around the median for Mildura on www.realestate.com.au.
1. A two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-mildura-418489190" target="_blank">4/209 Ninth St Mildura Vic 3500</a> is asking for $230 per week. No information was available on its last traded price on RP Data.
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%2011.34.32%20AM.png" alt="">
2. A two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-mildura-418474494" target="_blank">3/276 Ninth Street Mildura Vic 3500</a> is up for rent at $200 per week. The house was recently bought for $136,000, the sale date being 27 April 2016.
<img src="/images/2016/06/03/main-1.jpg" alt="">
3. A two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-mildura-418397754">3/223 Walnut Avenue Mildura Vic 3500</a> is available for $230 per week. No data was available on its last traded price on RP Data.
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%2011.36.57%20AM.png" alt="">
</body></html>

prateek24-ezbwHMbNAk

Mildura at fifth on Victoria's top suburbs for yields on units

<html><body>
Residex has presented the statistics summary for April looking at rental markets across Australia.
It suggests rents dipped in Sydney for houses over the past year.
The big annual rental falls for houses and units continues to be in Perth and Darwin.
Table 1: April 2016 Summary 
Houses
<a href="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.17%20PM.png" alt="">
Units 
<a href="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.25%20PM.png" alt="">
Source: Residex
 
</body></html>

jchancellor-FAypfDUnLy

Residex pinpoints rents dipping in Sydney

<html><body>
The REIV has released Melbourne's most affordable suburbs according to their median price.
The lowest median comes from Wyndham Vale, 31 kilometres southwest of the Melbourne CBD.
You can get a <a href="https://www.realestate.com.au/property-house-vic-wyndham+vale-122551150" target="_blank">three bedroom home at 4 Bligh Place</a> (above) in Wyndham Vale, which is available for between $330,000 and $350,000.
 <img src="/images/2016/06/03/image2.jpg" alt="">
Cranbourne also have a few offerings for lower than the median price, with a<a href="https://www.realestate.com.au/property-house-vic-cranbourne-122644442" target="_blank"> three bedroom home with pool</a> (above) on the market for $330,000.
The REIV’s median reveals Melbourne’s most affordable suburbs
1. Wyndham Vale - $350,000
2. Cranbourne - $366,500
3. Sunbury - $370,000
4. Werribee - $380,000
5. Pakenham - $383,000
6. Hoppers Crossing - $410,000
7. Tarneit - $415,000
8. Craigieburn - $417,000
9. Frankston - $426,000
10. Mernda - $427,000
</body></html>

jonathanchancellor-7SQnKwU6yx

Victoria's cheapest 10 suburbs 

<html><body>
GUEST OBSERVER
Vestbuild specialise in developing homes with spaces that feel big, versatile and flexible - spaces that can be repurposed for daily/seasonal needs. 
We believe in squeezing use out of every square inch of space. 
While smaller designs are becoming more popular, compact homes have been built in Melbourne since the late 1800s: for example, you will have seen the Victorian terrace housing and cottages in the north Melbourne suburbs and in Fitzroy and Albert Park. 
The small two-three bedroom home was introduced to the inner suburbs of large Australian cities by the UK in the 1850s when huge swathes were built to accommodate the Victorian Gold Rush population boom.
Building was halted by an economic depression in the early 1890s and when it restarted again in the early 1900s, the demand was for larger houses to accommodate a much smaller population.
It makes sense then that, facing another population boom coupled with the key issue of affordable housing, Vestbuild is committed to continuing the tradition of creating housing in Australia based on what the market requires. 
Another factor shaping our housing needs is the unprecedented aging of our population. 
Vestbuild understands this. 
We understand that the Baby Boom Generation that’s driven change throughout their lives now want new housing models that meet their needs. 
We’ve learned is that Generation Y are looking for the same thing: accessory dwelling units in walkable, urban neighbourhoods.
This need is reshaping the traditional concept of suburban single family living who are moving away from the traditional large lot/large houses that have dominated the Australian property market for the past 20 years. 
Vestbuild has answered this with our intuitive designs that are efficient, appealing and financially viable.
Deniz Sivasli is managing director, Vestbuild and can be contacted <a href="https://www.vestbuild.com" target="_blank">here</a>. 
</body></html>

Vestbuild's modern take on the Victorian Workers Cottage circa 1850's priced from $299,900 in Doreen

<html><body>
The Bendel family secured $520,000 for their bold and bright 1950s Potts Point studio apartment investment. 
Its colour scheme was inspired by Mighty Mouse, the animated super hero.
It was the work of industrial designer Nicholas Gurney whose Brougham Street project was shortlisted with a commendation at the Australian Interior Design Awards in 2013.
The top floor 27 sqm space, that comes with views of the city skyline and the Harbour Bridge, last traded $406,000 in June 2013.
It sold through Richardson &amp; Wrench.
</body></html>

Potts Point mighty mouse studio sells at $520,000

<html><body>
<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Coastal management in Australia is subject to competing interests and challenges. These range from land use and strategic planning issues to ecosystems preservation. Local councils are at the coalface as both key decision-makers and the first point of contact for communities.
Exacerbating these day-to-day challenges for councils are risks to property. A quantitative assessment undertaken by the then-Department of Climate Change in 2009 identified impacts of sea-level rise as a serious threat to property.
In New South Wales, under scenarios of a 1.1-metre sea-level rise, risks of damage or inundation to residential housing alone affected tens of thousands of properties, potentially costing millions of dollars. The NSW 2009 sea-level rise policy (now repealed) saw coastal councils considering this future risk when developing coastal zone management plans.
These metrics, while important, say little of the wide-ranging benefits of a freely accessible coast. Going to the beach is a fundamental part of Australian identity; it’s a “special place” for Australians.
Local councils are most exposed to the issues and challenges of a changing coastline in which there are many interests. Councils are often the first decision-makers for local development, asset management and land-use and strategic planning. Increased coastal erosion, storm events, more frequent and severe flooding impacts and higher tides can and will make these regular functions of councils more complicated.
In this context, the tabling of the NSW Coastal Management Bill on May 3 marks the formalisation of Stage 2 of the most significant law reform to coastal management since the 1970s. The NSW state government says that, by better integrating coastal management with land-use planning, the legislation offers:
 a modern, coherent coastal management framework that is responsive to current needs and future challenges.
<h2>Property rights hold sway</h2>
Despite a prominent focus on property values when it comes to coastal management issues, including climate adaptation, evidence is emerging that residents are attached to their property for more than financial reasons.
Private property interests often take priority as councils attempt to balance competing interests. An example of this is ongoing litigation over a sandbag wall on Belongil Beach in Byron Bay.
After a series of severe coastal storms in the 1970s, Byron Shire Council adopted a policy of “planned retreat<a href="https://www.theaustralian.com.au/archive/news/byron-bay-mayor-jan-barham-vows-no-retreat-on-beach-barriers/story-e6frg6o6-1225778397737">”</a>. The location of this small northern NSW community on the most easterly point of Australia means it is already exposed to coastal hazards. These will become more frequent and more severe under future climate scenarios.
The planned retreat policy set requirements for the future relocation of private property. Local property owners, particularly those with beachfront property, have vehemently opposed the use of the policy to prevent coastal property protection.
In May 2009, a particularly severe coastal storm caused significant damage to private residential property and the beach. Beachfront property owners (the Vaughans) sought to reinstate council-approved sandbag protection works on their property. This sandbag wall had collapsed during the storm.
The Vaughans sued the council and the council sued the Vaughans. This particular matter settled in February 2010 and the failed sandbag wall has been reinstated.
More recently, council plans to install a permanent rock wall at the same location ran into fierce opposition from the community, for whom the public amenity of the beach is critical, and legal challenges.
This example highlights some critical aspects of coastal management:
<ul>
<li>
private property rights are deeply entrenched in Australian culture and legal systems
</li>
<li>
climate adaptation is easier when it comes to future development
</li>
<li>
recourse to litigation in protecting your property is much easier if you can afford it.
</li>
</ul>
Climate adaptation planning, including planned retreat, can be more easily implemented for future development. There are excellent examples of local government in NSW providing landowners with a range of development options.
<h2>NSW reforms weigh future risks</h2>
Much of the coast of Australia, however, is already developed. The residential development includes affordable housing options. To balance competing interests along the coast, all members of coastal communities must be considered.
To this end, the NSW bill, if passed, would lead to a new Coastal Management Act, a new Coastal Management State Environmental Planning Policy and a coastal management manual. Together these advance a more forward-thinking coastal management response. This has a central focus on ecologically sustainable development that can better balance both the management of coastal hazards and the integrity of the coast.
Local councils will be responsible for implementing these new legal requirements. Under Part 3 of the Coastal Management Bill, councils will be required to monitor coastal hazards and to give effect to coastal management plans. It would appear this includes future sea-level rise.
As has been advocated in numerous policy reports, the councils can’t do this alone. They need assistance from the federal government as well as the state.
Tayanah O'Donnell is research fellow, University of Canberra and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/tayanah-odonnell-122914" target="_blank">here</a>.
</body></html>

Coastal law shift from property rights to climate adaptation is a landmark reform

<html><body>
<h2>Dealing with licences</h2>
<h3>Serious offences</h3>
We will cancel your licence if you’re convicted of:
<ul>
<li>violent offences (including threats to use violence)</li>
<li>fraud or dishonesty offences</li>
<li>drug trafficking</li>
<li>extortion</li>
<li>arson</li>
<li>unlawful stalking</li>
<li>any offence of a sexual nature.</li>
</ul>
You will have 14 days to return your licence to us. The maximum fine for failing to do so is $11,780.
<h3>Change of details</h3>
You must advise us in writing within 14 days about any changes to:
<ul>
<li>personal details</li>
<li>any aspect of your licence.</li>
</ul>
The maximum fine for failing to do so is $11,780.
<h3>Produce licence on request</h3>
<table id="table77016" class="striped" border="1">
<thead><tr>
<th id="table77016r1c1">Offence</th>
<th id="table77016r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table77016r1c1">
Failing to show a licence or certificate of registration to an inspector
</td>
<td headers="table77016r1c2">
$23,560
</td>
</tr>
<tr>
<td headers="table77016r1c1">
Failing to show a copy of a licence or certificate of registration to a potential buyer, client or other party after they ask to see it
</td>
<td headers="table77016r1c2">$11,780</td>
</tr>
</tbody>
</table>
<h3>Substitute licensee</h3>
You must follow the rules when appointing a substitute licensee. If you do not, you risk being fined.
<table id="table99699" class="striped" border="1">
<thead><tr>
<th id="table99699r1c1">Offence</th>
<th id="table99699r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table99699r1c1">
Not having the consent and evidence of appointment at the office
</td>
<td headers="table99699r1c2">
$11,780
</td>
</tr>
<tr>
<td headers="table99699r1c1">
Not lodging extension of appointment substitute licence for more than 30 days
</td>
<td headers="table99699r1c2">
$23,560
</td>
</tr>
<tr class="even">
<td headers="table99699r1c1">
Acting as licensee while you have a substitute appointed
</td>
<td headers="table99699r1c2">
$23,560
</td>
</tr>
</tbody>
</table>
<h2>Person in charge</h2>
<table id="table42782" class="striped" border="1">
<thead><tr>
<th id="table42782r1c1">Offence</th>
<th id="table42782r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table42782r1c1">
Not having a licensee or registered salesperson in charge of place of business
</td>
<td headers="table42782r1c2">
$23,560 (individual) $117,800 (corporation)
</td>
</tr>
<tr>
<td headers="table42782r1c1">
Having a real estate salesperson in charge of a place of business if their conditions or registration prohibit this
</td>
<td headers="table42782r1c2">
$23,560 (individual) $117,800 (corporation)
</td>
</tr>
</tbody>
</table>
<h2>Documentation</h2>
You must make sure that you:
<ul>
<li>complete all of your documents correctly</li>
<li>give copies to consumers when the law says you need to.</li>
</ul>
<h3>Appointment</h3>
<table id="table10091" class="striped" border="1">
<thead><tr>
<th id="table10091r1c1">Offence</th>
<th id="table10091r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table10091r1c1">
Acting for a client without a written appointment to act
</td>
<td headers="table10091r1c2">
$23,560
</td>
</tr>
<tr>
<td headers="table10091r1c1">
Not giving a copy of the appointment to act
</td>
<td headers="table10091r1c2">
$23,560
</td>
</tr>
<tr class="even">
<td headers="table10091r1c1">
Acting for more than 1 party to a transaction
</td>
<td headers="table10091r1c2">
$23,560
</td>
</tr>
<tr>
<td headers="table10091r1c1">
Not explaining the relevant details of a sole or exclusive agency appointment
</td>
<td headers="table10091r1c2">
$23,560
</td>
</tr>
</tbody>
</table>
<h3>Supply of documents</h3>
<table id="table50978" class="striped" border="1">
<thead><tr>
<th id="table50978r1c1">Offence</th>
<th id="table50978r1c2">Maximum penalty</th>
</tr></thead>
<tbody><tr class="even">
<td headers="table50978r1c1">
Failing to include the warning statement in the required section of a sale contract
</td>
<td headers="table50978r1c2">
$23,560
</td>
</tr></tbody>
</table>
<h3>Disclosure</h3>
<table id="table37835" class="striped" border="1">
<thead><tr>
<th id="table37835r1c1">Offence</th>
<th id="table37835r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table37835r1c1">
Non-disclosure of benefit to buyer
</td>
<td headers="table37835r1c2">
$23.560
</td>
</tr>
<tr>
<td headers="table37835r1c1">
Not disclosing a beneficial interest to a seller
</td>
<td headers="table37835r1c2">
$23,560 or 3 years imprisonment
</td>
</tr>
<tr class="even">
<td headers="table37835r1c1">
(For an auctioneer) Charging a buyer’s premium on goods connected to a real property without getting the consent of the owner and/or not disclosing a buyer's premium is payable on goods
</td>
<td headers="table37835r1c2">
$23,560
</td>
</tr>
</tbody>
</table>
<h3>Commission</h3>
<table id="table42495" class="striped" border="1">
<thead><tr>
<th id="table42495r1c1">Offence</th>
<th id="table42495r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table42495r1c1">
Claiming commission worked out on an amount more than the actual sale price
</td>
<td headers="table42495r1c2">
$23,560
</td>
</tr>
<tr>
<td headers="table42495r1c1">
Retaining or suing for commission when not entitled (for example, not licensed or not authorised to act)
</td>
<td headers="table42495r1c2">
$23,560
</td>
</tr>
</tbody>
</table>
<h2>Trust account offences</h2>
It is in an offence to steal or misuse trust monies. You risk a fine and imprisonment if you break the law.
<h3>Trust money</h3>
<table id="table47002" class="striped" border="1">
<thead><tr>
<th id="table47002r1c1">Offence</th>
<th id="table47002r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table47002r1c1">
Wrongful conversion and false accounts
</td>
<td headers="table47002r1c2">
$117,800 or 5 years imprisonment
</td>
</tr>
<tr>
<td headers="table47002r1c1">
Unauthorised use of trust account
</td>
<td headers="table47002r1c2">
$23,560 or 2 years imprisonment
</td>
</tr>
<tr class="even">
<td headers="table47002r1c1">
Trust monies are not banked immediately (to trust account)
</td>
<td headers="table47002r1c2">
$23.560 or 2 years imprisonment
</td>
</tr>
<tr>
<td headers="table47002r1c1">
Banking of non-trust monies to a trust account
</td>
<td headers="table47002r1c2">
$23,560 or 1 year imprisonment
</td>
</tr>
<tr class="even">
<td headers="table47002r1c1">
Licensee does not account to client
</td>
<td headers="table47002r1c2">
$23,560 or 2 years imprisonment
</td>
</tr>
</tbody>
</table>
<h3>Audit reports</h3>
<table id="table71648" class="striped" border="1">
<thead><tr>
<th id="table71648r1c1">Offence</th>
<th id="table71648r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table71648r1c1">
Failing to appoint an auditor
</td>
<td headers="table71648r1c2">
$23,560 or 1 year imprisonment
</td>
</tr>
<tr>
<td headers="table71648r1c1">
Failing to lodge audit report within time limit
</td>
<td headers="table71648r1c2">
$23,560 or 2 years imprisonment
</td>
</tr>
<tr class="even">
<td headers="table71648r1c1">
Failing to lodge a final audit within 2 months of ceasing to be a principle licensee
</td>
<td headers="table71648r1c2">
$23,560 or 2 years imprisonment
</td>
</tr>
</tbody>
</table>
<h3>Offences by auditors</h3>
<table id="table00876" class="striped" border="1">
<thead><tr>
<th id="table00876r1c1">Offence</th>
<th id="table00876r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table00876r1c1">
Auditor does not file advice immediately of irregularities to Chief Executive
</td>
<td headers="table00876r1c2">
$23,560 or 1 year imprisonment
</td>
</tr>
<tr>
<td headers="table00876r1c1">
Auditor fails to notify Chief Executive when denied access to other records
</td>
<td headers="table00876r1c2">
$23,560 or 1 year imprisonment
</td>
</tr>
<tr class="even">
<td headers="table00876r1c1">
Auditor fails to supply report to licensee
</td>
<td headers="table00876r1c2">
$23,560 or 1 year imprisonment
</td>
</tr>
</tbody>
</table>
<h2>Inspector's powers</h2>
Inspectors have the legal authority to make sure that you don’t break the law. You must follow their lawful directions, or you risk a fine.
<table id="table25521" class="striped" border="1">
<thead><tr>
<th id="table25521r1c1">Offence</th>
<th id="table25521r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table25521r1c1">
Failure to comply with warrant, produce documents or provide information to an inspector
</td>
<td headers="table25521r1c2">
$23,560
</td>
</tr>
<tr>
<td headers="table25521r1c1">
Failure to give name and address to an inspector in certain circumstances
</td>
<td headers="table25521r1c2">
$5,890
</td>
</tr>
</tbody>
</table>
<h2>Enforceable undertaking</h2>
An enforceable undertaking is:
<ul>
<li>a written promise by a business not to keep breaking the law</li>
<li>an alternative to court action.</li>
</ul>
<a href="https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/check-a-licence-association-charity-or-register/enforceable-undertakings-register" target="_blank">Find out more about enforceable undertakings here</a>
For more information from the QLD Government, click <a href="https://www.qld.gov.au" target="_blank">here</a>.
</body></html>

Property 101: Queensland's updated property industry breaches and penalties

<html><body>
Bill Shorten and Labor are promising to perform a mathematical miracle in the real estate industry: they have a policy under which prices will keep rising but affordability will improve.
Labor justified its real estate taxation policy with the claimed desire to improve housing affordability. Shorten in his policy announcement essentially blamed all price rises over the past 30 years on negatively-geared investors and inferred that nobbling them would revolutionise affordability.
This has scared the living daylights out Australians who live in the 70 percent of households which own their homes. Labor was promising to reduce the value of their major asset.
Since Labor realised the fundamental flaw in its policy pitch, it has been at pains to claim that property values won’t fall under its changes. The ALP-aligned think tank, The McKell Institute, is now saying that house prices will keep rising under the Labor policy.
So Labor proposes to perform a statistical miracle. Prices will keep rising but affordability will improve. One wonders about the means they will use to achieve this. Other than lower prices, the only mechanisms for improving affordability are a big cut in interest rates (already at record lows and not controlled by the politicians) and/or a big rise in incomes (not part of the plan, as far as I know).
This confirms – yet again – that politicians collectively lack even a primary school understanding of how property markets work and how their blinkered policies impact on real estate consumers. They seem unable to think policies through to logical conclusions. They keep introducing laws which they claim will improve affordability but which make it worse – every time.
This is playing out at a state level, with the Governments in charge of the two biggest states slugging foreign investors with new taxes. They maintain that this will somehow make housing cheaper but sadly - yet again - it will have the opposite impact.
There are widely diverging views on affordability – how serious it is, what causes the problem, who’s to blame for prices rising and how to fix things. But one area where most parties tend to agree is that increasing the supply of dwellings would have a beneficial impact.
In fact, the best chance of bringing down prices at a local level is creation of an oversupply. As we have seen in selected locations around Australia in recent years, it’s the one major element that causes prices to drop.
Specific markets, notably inner-city apartment markets in some capital cities, are poised for a hefty rise in supply which is linked directly to foreign investment. If planned projects proceed, price decline is almost inevitable.
But state government moves in Victoria and New South Wales to lift sharply increase taxes on foreign buyers of Australia real estate are likely to prevent or limit that increase in supply.
Coupled with moves by the banks to curtail lending to foreign buyers and ATO measures affecting sales above $2 million, Australia has quickly cobbled together a series of major disincentives to foreign investment. There are reports of Asian investors switching their focus away from Australia to other, more welcoming nations.
If foreign investors stop buying (they won’t all be turned away, but many will, I suspect) many of the proposed apartment projects simply will not be built. 
The big increase in new dwelling supply will be lost, as will many construction jobs. 
In reality, I suspect the state measures have little to do with a desire to improve affordability. It’s essentially a cash grab, disguised as a measure to help young Australians achieve home ownership.
Like everything else coming out of the befuddled brains of politicians, the moves will make the problems in real estate worse.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Cash grab or about affordability? Terry Ryder

<html><body>
<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It is received wisdom in the Australian superannuation industry that bigger is better. The theory goes that funds with more assets under management will benefit from economies of scale, because the costs of running a superannuation fund are largely fixed and do not change much, whether you are managing assets of A$500 million or $50 billion.
This means that funds which have more assets under management will spend proportionally less on administration and overheads. This will allow them to make more competitive returns and supposedly give them an edge in the marketplace. The endpoint of this reasoning is that a market’s conditions will be a “critical threshold” when it comes to size.
Any funds smaller than that threshold would be too inefficient and would eventually succumb to the larger and more efficient competition, being either absorbed into a larger fund (to restore economies of scale) or losing members attracted to greener pastures, as the bigger funds could charge lower fees per member.
<h2>But is this true for industry superannuation funds?</h2>
We decided to look into whether it was indeed the case that larger funds have an advantage in economies of scale over smaller funds. In particular, we were hoping to find signs of healthy competition in the superannuation marketplace, as competition helps assure us that the industry is appropriately serving the needs and demands of consumers. Such competition might take the form of strategic mergers between smaller funds, or attempts by larger funds to advertise their relative efficiency and lure away the members of the smaller funds.
Signs of healthy competition are especially important for the superannuation industry, as one of the largest sectors in the economy and a crucial part of our collective ability to finance our retirement. The review used data from industry funds, which disclose this information in annual reports. Retail (for profit) funds do not always disclose this information.
<h2>Comparing administrative efficiency</h2>
In order to work out whether super funds really do benefit from economies of scale, we looked at the largest and the smallest industry superannuation funds. In particular, we compared them based on the proportion of assets under management spent on administration costs each year. If the theory that “bigger is better” is correct, one would expect to find that larger funds spend a far lower proportion of their total assets on administration costs.
One would expect this difference to be especially prominent given the massive size discrepancy between industry superannuation funds: the largest, Australian Super, held over $90 billion in assets in 2015 compared to the smallest fund, Transport Super, with a relatively miniscule $114 million.
When comparing some of the top dogs to a handful of middle-sized industry funds, there seems to be no marked correlation between size and efficiency:
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124413/width754/image-20160530-879-1jmptgw.png" target="_blank">Click to enlarge</a>
<h4>
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124413/width754/image-20160530-879-1jmptgw.png" alt="">Source: Fund annual reports
</h4>
This is very surprising, as these funds do vary by quite a large margin of assets; the two mid-sized funds shown hold about $7 billion each, whereas the two large funds hold over $37 billion and $90 billion.
To further check these results we decided to compare a handful of the largest funds to the five smallest. At first glance, this comparison seems to confirm the “bigger is better” theory:
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124414/width754/image-20160530-10041-3xm71g.png" target="_blank">Click to enlarge</a>
<h4>
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124414/width754/image-20160530-10041-3xm71g.png" alt="">Source: Authors
</h4>
However, when we look past these averages at some of the individual funds (both the largest and the smallest), a much more interesting picture emerges: some of the tiniest funds (in solid lines) seem to be just as cost-effective as the very largest (the dashed lines).
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124415/width754/image-20160530-864-pk9vqg.png" target="_blank">Click to enlarge</a>
<h4><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124415/width754/image-20160530-864-pk9vqg.png" alt=""></h4>
<h4>Source: Fund annual reports</h4>
<h2>A potentially embarrassing situation</h2>
These findings run in stark contrast to prevailing wisdom about the superannuation sector and indeed the classic economic theory of economies of scale. Not only do the biggest funds have no discernible efficiency advantage over the much smaller mid-sized funds, but there are some positively tiny funds which are just as efficient as some of the very largest.
What is going on here – is this merely some market aberration, or are some smaller funds putting up a heroic David-and-Goliath struggle against their competitors? The question for the big funds is why they have no efficiency advantage over their smallest competitors, and what steps they ought to be taking to rectify a potentially embarrassing situation which has been in place for many years.
<h2>Data</h2>
The data-set used for this article consisted of the financial information of the 14 largest and 5 smallest industry superannuation funds, as ranked by APRA’s statistical publications. The data as to the level of administrative expense came from the annual reports of the superannuation funds. An overview of the funds and the size of their assets is shown below.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124416/width754/image-20160530-903-21i56.png" target="_blank">Click to enlarge</a>
<h4><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/124416/width754/image-20160530-903-21i56.png" alt=""></h4>
<h4>Source: Fund annual reports</h4>
Rob Nicholls is lecturer, UNSW Australia, and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/rob-nicholls-91073" target="_blank">here</a>.
This piece has been co-authored with Veevek Doolabh, a final year undergraduate law student at UNSW.
 
</body></html>

The myth of economies of scale: bigger is not necessarily better for super funds

<html><body>
A permit approved residential tower site in South Yarra has been listed for sale.
The 2,125sqm site at 16 Claremont Street, has permit approval to accommodate a 27-storey tower, comprising 336 apartments, as well as retail and office space.
Designed by Fender Katsalidis Architects, the project - known as VISTA - benefits from dual street frontage to the major thoroughfares of Daly and Claremont streets.
It is listed through Colliers and CBRE. 
CBRE’s Lewis Tong said the site’s existing permit approval would be a differentiating factor for offshore groups. 
“Asian developers are likely to see significant value with the plans and permits already in place,” he said. 
</body></html>

Latest Expert Insights

Parcel delivery is joining the apartment amenity checklist

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Parcel delivery is joining the apartment amenity checklist

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News