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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A large Williamstown industrial site has sold under the hammer for $2.9 million.
The 7,081 sqm site at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-williamstown-501937546">64 Tennyson Street</a> was sold to a developer.
It has a combined 241 sqm frontage to Fink Street, Chelmsford Street and Tennyson Street.
Fitzroys agents Chris Kombi and James Gregson handled the auction campaign, in conjunction with Grita Angelucci and Sam Nadde of Property Au.
The site was offered with opportunities for investors, owner occupiers and developers, according to Chris Kombi.
It receveieced more than 60 enquiries throughout the campaign.
Gregson said the property is located in an established and highly sought after industrial precinct in Melbourne’s inner west, with the owner planning to divide the site into around 30 office/warehouse buildings. 
 
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Williamstown industrial site sold for $2.9 million

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Colliers International are auctioning a portfolio of four G8 childcare centres and seven neighbourhood retail shops across Queensland and South Australia on Wednesday 15 June at 10.30am.
The Ormeau Kids and Ormeau Shopping Centre at 1 Arthur Way in Ormeau, Queensland can be purchased separately or together. The childcare centre has a 10 year lease with options through to 2041. The shopping centre is 100 percent leased with 7 retail tenancies including Pizza Capers, Liquor Legends, Friendly Grocer, Thai Restaurant, Café, Chemist and Hairdresser.
Coomera Kids at 1/1 Brygon Creek Drive Upper Coomera, Queensland has 224 places over 3,743 sqm and a fully leased net income of $523,185.
Upper Coomera Kids at 35 Nicola Way, Upper Coomera, Queensland has 138 places over 2993 sqm and a fully leased net income of $322,319
<div id="x_prop3iconoption3_START">Morphett Vale Early Learning Centre at 105-107 Flaxmill road Morpheme Vale, South Australia has 85 places and a fully leased net income $187,487. It is on a land area of 1,902 sqm.</div>
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Portfolio of four G8 childcare centres going to auction

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Melbourne based specialist wine storage and distribution firm, Quality Wine Logistics, has agreed terms on a new office/warehouse lease at Dandenong South in Melbourne’s south-east.
The deal brokered by Savills Australia for the 197-203 Ordish Road property comprises 3818 square metres of quality office and warehouse space, including a 468 square metre, two-level office component and 3350 square metres of high clearance warehousing.
The property is located within the heart of Dandenong's industrial precinct enabling immediate access to all main arterial road networks including EastLink, Greens Road, the M1 Freeway, Dandenong Bypass and Frankston-Dandenong Road.
According to Savills’ Senior Executive Paul Jones, who negotiated the deal, the tenant agreed to a five year lease at a rental of $270,000 per annum net for the lessor, a private Melbourne investor.
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Savills secures Dandenong industrial lease deal for wine distributors

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GUEST OBSERVER
Deflation refers to persistent and generalised price falls.
It occurred in the 1800s, 1930s and the last 20 years in Japan. Most people would see falling prices as good because they can buy more with their income. However, deflation can be good or bad depending on the circumstances.
In the period 1870-1895 in the US, deflation occurred against a background of strong economic growth, reflecting rapid productivity growth and technological innovation. This can be called “good deflation”. However, falling prices are not good if they are associated with falling wages, rising unemployment, falling asset prices and rising real debt burdens. For example, in the 1930s and more recently in Japan. This is “bad deflation”.
In the current environment of high debt levels, sustained deflation could cause big problems. Falling wages and prices would make it harder to service debts. Lower nominal growth will mean less growth in tax revenues making high public debt levels harder to pay off. And when prices fall people put off decisions to spend and invest, which could threaten economic growth. This could risk a debt deflation spiral of falling asset prices and falling incomes leading to rising debt burdens, increasing defaults, spurring more falls in asset prices, etc. There are good reasons why central banks want to avoid that.
As can be seen in the next chart, there are still more countries experiencing deflation than hyperinflation.
<h1><a href="/images/2016/05/31/chart-2.png" target="_blank">Click to enlarge</a></h1>
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<img src="/images/2016/05/31/chart-2.png" alt=""> Source: Thomson Reuters, AMP Capital
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The RBA eased this month because actual inflation has fallen below target and is likely to stay there for a while.
Cutting inflation targets would be foolish and make it harder to get inflation back up to target.
Low rates are helping the Australian economy and zero rates and quantitative easing have helped the US. Central banks are not out of ammo.
For investors, it’s likely to remain a low interest rate environment for some time to come.
This year has seen a growing concern that central banks are out of ammo when it comes to reinvigorating global growth and preventing deflation. And the Reserve Bank of Australia’s latest rate cut has some fearing that it’s going down the same “failed path” as other major central banks. But is it really that bad? Have central banks really failed? Are they really out of ammo?
Why did the RBA ease again?
The latest RBA rate cut, which took the official cash rate to a record low of 1.75% percent, surprised many because recent economic data in Australia has been OK. But the reason for the cut is simple. Inflation has fallen well below the RBA’s 2-3 percent target, the weakness in prices was broad based and inflation is expected by the RBA to remain below target or at the low end of the target for some time.
<a href="/images/2016/05/31/chart-1.png" target="_blank">Click to enlarge</a>
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Source: ABS, RBA, AMP Capital
Naturally, the RBA worried that if it didn’t provide more stimulus to the economy low inflation could become entrenched and could give way to deflation. With the $A pushing up towards $US0.80 prior to the cut and the Fed continuing to delay rate hikes, the RBA was no doubt also concerned that if it didn’t ease the $A would push even higher, putting more downwards pressure on inflation.
<h2>Why not just lower the inflation target?</h2>
Since the last RBA cut, some have said that the RBA should just lower its inflation target because it cannot fight falling global commodity prices and what’s wrong with very low inflation anyway. This reminds me of a similar argument back in 2007-08, when inflation had pushed above 4%, that the RBA should not worry but just raise its inflation target as it cannot fight rising global commodity prices. Such arguments are nonsense.
First, the whole point of having an inflation target is to anchor inflation expectations. If the target is just raised or lowered each time it looks like being seriously breached then those expectations - which workers use to form wage demands and companies use in setting wages and prices - will simply move up or down depending on which way the target is changed. And so inflationary or deflationary shocks from things like commodity prices will turn into permanent shifts up or down in inflation. Second, there are problems with allowing too-low inflation. Most central bank inflation targets are set at 2% or so because statistical measures of inflation tend to overstate actual inflation by 1-2% because statisticians have trouble actually adjusting for quality improvements and so some measured price rises really reflect quality improvements. In other words, 1.5% inflation could mean we are actually in deflation. And there are problems with deflation – see below.
<h2>How far will the RBA cut rates?</h2>
To the extent that the minutes from the RBA’s May meeting indicate the RBA had considered “waiting for more information”, it may choose to sit tight at its June meeting. However, given the downside risks to inflation, particularly with wages growth falling to a record low 2.1%, constrained growth and the still high $A more rate cuts are likely. We are allowing for two more rate cuts this year, taking the cash rate to 1.25% by year end.
<h2> </h2>
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<h2>What has been driving deflation?</h2>
Several factors have driven the plunge in global inflation and some countries dipping into deflation: commodity prices have been in a downtrend since 2011 as their supply surged; and the sub-par global recovery since 2009 means the world has plenty of spare capacity. Global economic activity is around 2.5% below potential. Excess capacity means companies lack pricing power and workers lack bargaining power.
<h2>But are rate cuts actually working?</h2>
Some worry that rate cuts have just made things worse by cutting into the spending power of retirees and forcing those nearing retirement to save more. However, there are several points to note in relation to this. First, the level of household deposits in banks in Australia at around $0.9 trillion is swamped by the level of household debt at $2.2 trillion. So the household sector is a huge net beneficiary of lower interest rates. Second, the responsiveness to changes in spending power for a family with a mortgage is far greater than for retirees. Third, the proof is in the pudding. The fall in interest rates has helped the economy rebalance as mining investment has collapsed: first via a pick-up in housing construction and more recently via growth in consumer spending of close to 3% per annum (pa). While those close to retirement may be saving more because of lower investment returns, the household saving rate overall has drifted down from 11% to around 8% since the first RBA rate cut in late 2011. And of course RBA rate cuts have helped push the $A lower. So overall, rate cuts do work.
<h2>Have non-traditional monetary policies failed?</h2>
This is a relevant question with many saying that zero interest rates and quantitative easing in developed countries have not worked. But actually in the US they have as growth there has been averaging around potential at 2% pa, unemployment has fallen from 10% to below 6%, wages look to be picking up and underlying inflation is close to the Fed’s 2% inflation target. Sure, the Eurozone and particularly Japan are less clear but this may be because they waited too long before acting by which time low inflation or deflation had become entrenched. The lesson from this is that central banks need to act quickly and not that non-traditional monetary policy doesn’t work.
<h2>Are central banks out of ammo?</h2>
This is a common concern. However, central banks are a long way from being unable to do anything: the Fed can reverse last year’s interest rate hike and launch another round of quantitative easing if needed; and both the ECB and Bank of Japan could expand their quantitative easing programs further both in terms of size and the type of assets. More negative interest rates are an option but central banks are wary of this after the adverse impact of Japan’s experience regarding negative rates.
The ultimate option is for central banks to provide direct financing of government spending or tax cuts using printed money. This is often referred to as “helicopter money”. Unlike quantitative easing, which requires banks to lend their newfound cash to borrowers who want to borrow, it would yield an almost guaranteed response as the recipients of government spending/tax cuts will spend at least some of it. It won’t add to government debt either. As the examples of Zimbabwe and the Weimar Republic demonstrate, such an approach would make no sense if supply is constrained relative to demand and inflation is already high and rising. But that is not the case now and deflation remains the main threat, not inflation.
Of course none of these are an issue for the RBA as it still has plenty of scope to cut interest rates if needed.
Ideally, central banks should be getting more help from governments in terms of fiscal stimulus and supply side reforms but there are all sorts of constraints around this.
<h2>Implications for investors?</h2>
There are a number of implications for investors. First, while the worst may be over in terms of commodity price falls so the threat from deflation may be receding globally, the risk remains thanks to spare capacity and low wages growth, so low interest rates will remain in place for some time. While the Fed may continue down its path of gradual rate hikes, elsewhere rates are likely to stay low and, in Australia, fall further. Australian term deposit rates at around 2% are at their lowest since the early 1950s. So don’t expect great returns from them.
Second, given the absence of significant monetary tightening, a 1994-style bond crash remains as distant as ever. The most likely outcome is just low returns from government bonds.
Third, the low interest rate environment means the chase for yield is likely to continue supporting commercial property, infrastructure and shares offering sustainable high dividends.
Finally, as can be seen in the next chart, low inflation is generally good for shares as it allows shares to trade on higher price to earnings multiples. But it would be preferable not to see low inflation slip into deflation as this could be bad for shares given it tends to go with poor growth and profits and as a result shares trade on lower PEs. The same would apply to assets like commercial property and infrastructure.
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<img src="/images/2016/05/31/chart-3.png" alt=""> Source: Global Financial Data, Bloomberg, AMP Capital
So, combined with the social damage that a bout of debt deflation could cause, I would much prefer to see central banks continue to do all they can to avoid deflation.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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jchancellor-FAypfDUnLy

RBA rate cuts, inflation targets, deflation and are central banks out of ammo? AMP Capital's Shane Oliver

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A private Australian syndicate is poised to resurrect the Hinchinbrook Harbour over the next decade.
The revival is expected to cost around $450 million but economic modelling forecasts more than $1 billion will be pumped into the Cassowary Coast region with its reignited tourism.
The Passage Holdings are the syndicate behind the development which includes a restoration of the Cyclone Yasi-ravaged marina, 600 additional residences, hotel, family resort, water theme park, international fishing village, 300-site motorhome park, campgrounds and backpacker accomodation.
MacroPlan Dimasi undertook an economic benefit analysis which showed the project's 10 year construction phase would generate $400 million in direct economic activity and a further $654 million indirectly.
The assessment suggests that the additional accommodation capacity, enhanced entertainment, recreation and general tourism amenity and infrastructure established throughout the development, will support and contribute to ongoing growth in visitation for the region.
Hinchinbrook Harbour will deliver around 90 full-time jobs onsite and 180 jobs indirectly each year during construction.
On completion, the community will support a 430 strong permanent workforce comprising retail, hospitality and office positions.
The completed Harbour would generate 420,000 visitor nights each year for the local industry.
Hinchinbrook Harbour sales and marketing agent Bruce Goddard, of Place Projects, said there had been a significant decline in visitor nights in the region, in part because of the effects of Cyclone Yasi and a post-GFC downturn in tourism.
“This redevelopment is a catalyst for wider economic stimulation and will see the region return to its pre-Yasi halcyon days,” he said.
“Hinchinbrook Harbour will deliver the tourism amenity and capacity required to enhance the overall regional offer.”
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Port Hinchinbrook development to pump $1 billion into Cassowary Coast

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Data from the ABS show residential building approvals increased by 3 percent in April, exceeding a monthly total of 20,000 according to the housing Industry Association.
HIA economist Geordan Murray said approvals for multi-unit dwellings drove the headline growth in April, with approvals growing by 8.1 per cent during the month.
“The growth in multi-unit approvals was driven by the eastern sea-board states, where we saw multi-unit approvals jump by 20 percent in Queensland, 19 percent in New South Wales, and 7 percent in Victoria. South Australia also posted an increase of 3 percent," he said.
“Approvals for detached houses continue to flow through at a steady rate. While there was a decline of 2 percent in the month, there were a total of 9,695 detached dwellings approved which is still on par with the monthly average over the last couple of years. 
“In contrast to the situation with multi-unit approvals, the number of detached house approvals fell across the eastern sea-board states while all other states and territories posted improvements. It’s pleasing to see the likes of South Australia post the strongest month of detached house approvals in more than two years.
"We maintain our view that the level of new home building activity in to 2016 is likely to be lower than we saw during 2015, however this result suggests the 2016 level may be closer to the peak than initially expected.” 
According to the HIA, during April 2016, total seasonally adjusted new home building approvals saw the largest increase in South Australia (+13.7 percent) with growth in Tasmania (+13.6 percent), New South Wales (+10.4 percent), and Queensland (+6.7 percent). 
Approvals fell by 2.7 percent in Victoria and by 0.6 percent in Western Australia. 
<a href="/images/2016/05/31/Screen%20Shot%202016-05-31%20at%202.47.05%20PM.png" target="_blank">Click to enlarge</a>
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Resurgence in multi-unit dwelling approvals: HIA

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With elections announced for July 2, domestic gripes are back and Australians are facing a few weeks of spin from polarised think tanks, economists and shock jocks, according to Rita Avdiev, managing director of the Avdiev Group.
In Oz, the economic divide is between the healthy service sector economies in the East and the hard yakka states where falling commodity prices bring rising unemployment and property value collapse. 
The property bubble
"It’s back, the slow leak mended by the Reserve Bank," she writes in a post on avdiev.com.au.
The RBA has dropped interest rates to a new low, great for borrowers, especially negatively geared investors, but another blow for self-funded retirees. What will be the unintended consequences on investor behaviour? What impact on welfare needs?
The negative gearing debate is continuing. Removing it was tried and abandoned in the mid-1980s, but that was too long ago for the lessons of history to be remembered. The current government intends to keep it. 
According to Rita Avdiev, it was a win for the property industry which has been the stand out performer of the Oz economy.
"We’ve done well in the pay stakes too. Salary rises in other markets have been low to negligible, property is well ahead."
Although the 2016 Avdiev Property Industry Report findings show a 3% median rise overall, under the surface there are stand out market sectors where shortages are severe and the attraction and retention strategies aggressive. Contributors reported massive pay increases and forecasts in development and building companies, for development managers, project managers and architects with 3-D modelling software skills, all in short supply.  
There’s been lots of action at the top of the property food chain – the major listed property funds, she says. Profits are up, foreign investment continues. Amalgamations, joint ventures and a spectacular but unsuccessful takeover attempt has resulted in resignations and renewal in the senior echelons of both companies. 
Commercial property is doing well, spare space capacity is being absorbed, especially in Sydney. 
Retail is softening - unseasonal weather, consumer sentiment and sluggish sales impact on rents and yields. Regulation, the availability of local finance and a potential slowdown of foreign funds are a worry for developers, especially for the seasoned ones who have seen it all before.  But hope springs eternal for the young ones, they are joint venturing with their sources of capital and looking ahead.
Real Estate has been super busy, at the big end of the property market, and in residential as well. But listing on the stock market is a brave move and does not guarantee success, even if it’s a large franchised residential network and a well known brand name. Time will tell.
The built environment consultants in the active market sectors of property are doing well, but a recent study of business conditions for architects in South Australia tells a tale of woe – fee cutting, low salaries, not enough work. They are not unique, similar conditions exist in other states too, depending on opportunity, specialisations and feral tendering competition.
The Sydney v Melbourne rivalry is still on, she writes.
Both are magnets for foreign investment, both have a healthy economy, dysfunctional planning controls, and infrastructure and transport problems. But the solutions are very different. The NSW government will fund a second harbour rail crossing. Victoria, having abandoned the East West road link at the cost of $1.1 billion, is now focused on removing road and rail level crossings which should have gone a long time ago. What will living next to overhead rail do for the residents of the world’s most liveable city? Shades of Chicago? NSW has completed a review of planning regulations – the latest of how many? What’s the next step? The Victorian Planning Minister has stopped reviewing and started making decisions to allow large CBD developments with foreign funding proceed.
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Commercial property doing well, retail softening, but property still standout of Oz economy: Avdiev 

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A private investor from Queensland has snapped up Aviation House in Canberra for $68.1 million.
The sale by Colliers International director Tim Mutton represents the largest office building deal in Canberra this year.
Located in Woden, Aviation House was sold via an EOI process in conjunction with JLL.
The property is an A-Grade office building comprising 14,812 sqm of high quality office accomodation over nine levels.
It is a fully leased commercial asset underpinned by three Commonwealth Government tenants.
It received interest from international and local buyers seeking to invest in metropolitan markets across the eastern seaboard.
Tim said that Canberra is attracting maiden investors who are finding that supply is becoming increasingly scarce in the Sydney and Melbourne major office markets.
“Major office buildings with Commonwealth leases located in our town centres are seen as attractive investments as the Australian Government considers local impacts before moving tenants out of town centre locations, which we’ve recently seen with Customs and Border Protection staying in Belconnen.
Mutton said that Aviation House represented another strong sale in a Canberra town centre and is great news for businesses in the Woden area, being one of Canberra’s major community and commercial hubs servicing a retail trade area of about 432,000 people and with some 130,000sq m of office space occupied by Government tenants.
Woden has seen an increase in infrastructure projects undertaken by the ACT Government, including the investment of more than $10 million in improving the Bus Interchange and street scapes.
The nearby Westfield Woden Shopping Centre is also to be extended and redesigned.
According to Colliers International research, four major office buildings have sold in 2016 totalling $152.325 million. Tim Mutton expects four more major office buildings to transact before the end of the year.
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Aviation House in Canberra sells for 2016 record

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An Officeworks tenanted site in Ballarat has been listed through CBRE.
The 4,857sqm retail holding, located at 116 Creswick Road, Ballarat Centre, features a substantial freestanding building of 2,117sqm.
The property benefits from a new eight year lease to prominent national retailer Officeworks, with option for up to 12 years extension.
CBRE noted recent sales of Officeworks Vermont South (4.9 percent initial yield) and Officeworks Woollongabba (5.8% initial yield) indicated the demand from the buyer market.
Strong future growth projected for the Ballarat market is expected to increase to 139,600 residents by 2031.
Offers are due June 17.
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Officeworks Ballarat site for sale

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A Brunswick development site has been sold by Raine &amp; Horne at $1.2 million.
Its town planning permit consist of 10 generous two bedroom apartments, 1 one bedroom apartment and a 52sq metre office on the ground floor.
Set within walking distance to cosmopolitan Sydney Road, the <a href="https://www.rhcommercial.com.au/properties/15-breese-street-brunswick-3056-victoria-cd7744c8-1283-4440-958e-0cd86e076c66" target="_blank">Breese Street property</a> was offered by Raine &amp; Horne agent Tim Frian.
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