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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Auction activity will rise this week, with CoreLogic currently monitoring a total of 2,301 capital city auctions, representing a 20 percent rise in activity compared with last week (1,920). 
Despite the week-on-week rise, the number of capital city auctions compared to last year remains remarkably lower, given 2,792 were held over the same week last year.
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One of the significant differences when comparing this year to last year is the activity in Sydney. One year ago, over the week there were 1,149 Sydney auctions, while this year there are currently 732 scheduled. In Melbourne, the difference is less noticeable, with 1,110 scheduled for this week, compared to 1,248 one year ago. 
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The busiest individual suburb for auctions this week is Melbourne’s Glen Waverley, where a total of 25 residential properties will be taken to auction. Reservoir (19), Craigieburn (16) and South Yarra (16), also in Melbourne, follow on from Glen Waverley as the busiest auction suburbs this week.
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Summary of last week’s results: 
After recording a preliminary clearance rate of 70 percent last week, the final auction clearance rate revised down slightly, to 68.9 percent across 1,765 auction results. 
The two largest auction markets of Sydney and Melbourne recorded the strongest clearance rates last week, at 73.2 percent and 70 percent, respectively, followed by Adelaide (68.8 percent) and Canberra (67.2 percent). 
Results from last week show that across Queensland, auction clearance rates remained within 10.5 percentage points across the three main auction markets of Brisbane (50.9 percent), the Gold Coast (44.1 percent) and the Sunshine Coast (54.6 percent). 
Regional New South Wales auction clearance rates were relatively similar to what was seen across the state’s capital city, at 71 percent for Hunter and 70.4 percent for Wollongong. The Geelong clearance rate of 70 percent across 20 auction results was the same as Melbourne, at 70 percent across a much more substantial 797 results. 
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Auction activity will rise this week: CoreLogic RP Data's Shana Miller

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Entering the property market is a tough gig for first home buyers, especially when faced with competition from buyers who hold larger buying budgets, some of which has been accrued from property equity earned as a result of recent strong capital gains.  
While home value rises have been moderate over recent years outside of Sydney and Melbourne, it provides little comfort for first home buyers in the two largest cities who struggle to compete with those that already own homes.
In 2008, combined capital city home values fell by -6.1 percent in the space of 9 months. By the end of the year, home values had reached and began to climb further thereafter. 
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The growth drivers largely came from two forms of stimulus: aggressive interest rate cuts and a boost to the First Home Owners Grant (FHOG). Since the removal of the FHOG boost and scaling back and complete removal of others, first home buyers have continued to languish at near record-low levels.
The increase in home values across each capital city from December 2008 to April 2016 can be seen in the first of the adjacent charts. Another way to think about this is that if in December 2008 you owned a home worth $500,000 it is now worth $758,418 which is $258,418 more than in December 2008. Looking at this same calculation across each capital city, the increases in value over that time based on a $500,000 home owned in December 2008 are: Sydney ($400,825), Melbourne ($338,866), Brisbane ($73,417), Adelaide ($81,029), Perth ($64,096), Hobart ($11,263), Darwin ($109,293) and Canberra ($126,262).
The data clearly shows that the value property for home owners has undergone some massive rises, the increase in inflation and wages has been comparatively more sedate. 
Although combined capital city home values have increased by 51.7 percent between December 2008 and April 2016, inflation has increased by a significantly lower 17.1 percent over the period. CPI has increased by a greater amount than values in Brisbane, Adelaide, Perth and Hobart indicating ‘real’ home values have fallen. Meanwhile in Sydney, Melbourne, Darwin and Canberra CPI growth has lagged that of home value growth. 
Looking at wages growth between December 2008 and March 2016, the data shows that nationally, and in New South Wales, Victoria and the ACT, it has lagged value growth across the capital cities; wages are now growing at their slowest pace in at least 18 years. 
While the increases highlighted include strong wage increases in the latter part of the mining boom, nonetheless, it shows that in NSW and Vic wages are increasing at a much slower pace than home values in Sydney and Melbourne are. 
The last chart shows the change in the value of new lending (excluding refinances) to investors, owner occupier first home buyers and subsequent buyers between December 2008 and March 2016, and highlights how the value of lending to owner occupier first home buyers is now lower than it was in December 2008 across each state and territory. 
This has occurred despite the increase in home values over the timeframe.
While lending to owner occupier first home buyers has fallen, lending to investors and subsequent buyers has increased in most states and territories with substantial rises in NSW and Vic.
Outside of Sydney and Melbourne home values have increased below or at a similar pace to inflation and wages, however, it is a very different story in the two largest capital cities where existing Sydney and Melbourne home owners have seen significant increases in the ‘real’ value of their home.
Those that do not yet own a property will struggle to compete with investors and upgraders who have been active in the market and where significant equity has been acquired.
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The simple answer for first home buyers, particularly in Sydney and Melbourne, is to look to buy properties outside of these cities however, that may seem a little simplistic given jobs creation has not been as strong outside of Sydney and Melbourne and for many moving interstate, employment opportunities are generally a big decision.
Even buying outside of Sydney in nearby regional cities may not be attractive because transport infrastructure does not provide quick and efficient access to Sydney and Melbourne from nearby regional cities. 
Whatever the outcome, we certainly don’t advocate for the return of grants for first home buyers as they have tended to just push up the cost of housing.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Investors and owner occupiers keeping first home buyers out of market: CoreLogic RP Data's Cameron Kusher

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Mortgages nationwide are up nationally month on month with a 3.2 percent change according to CoreLogic RP Data.
Tasmanian mortgage levels lead the pack with a 23.4 percent change.
New South Wales is up 0.5 percent, Victoria 3.2 percent and Queensland 5.2 percent.
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Mortgage activity up nationally 3.2 percent month on month: CoreLogic RP Data

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Houses in Perth are taking an average of 79 days to sell with units at 86 days according to CoreLogic RP Data.
Darwin houses are taking an average of 74 days to sell and units 116 days.
Houses in Sydney are taking 32 days, units 30 and in Melbourne 31 days for houses and 35 for units.
Brisbane homes take an average of 63 days and units 75 days.
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Perth houses taking an average of 79 days to sell: CoreLogic RP Data

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The number of properties for sale in Melbourne are down 2.3 percent year on year with a total of 28,959 listings according to CoreLogic RP Data.
Hobart listings for the same period are down 27.6 percent, with Sydney sales listings up 20.7 percent.
Brisbane listings are up 5.1 percent, Adelaide up 6.8 percent and Perth up 13.6 percent.
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Melbourne listings down 2.3 percent year on year: CoreLogic RP Data

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A property in Millers Point, not part of the NSW Government sell off, was passed in this week.
It was <a href="https://www.realestate.com.au/property-terrace-nsw-millers+point-122544878">passed in at auction </a>on a vendor bid of $1.9 million for the 1882 Kent Street home.
The middle terrace in the revived three Carlson Terrace row was built in the Italian villa style of architecture.
The 99 sqm offering is located at the door of Observatory Hill and offers harbour views over Darling Harbour and Barangaroo from its rooftop terrace.
The home with elaborate parapet and cast iron roof balustrades has three bedrooms, one bathroom, a granite kitchen and walled courtyard.
Di Jones listing agent Elodie Fabre is still negotiating with a few buyers.
The home previously traded for $910,000 in 2008 before the renovation.
The property was privately owned when they purchased and it was before the Labor, the Liberal governments started releasing the other properties.
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Millers Point terrace passed in

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Claims that thousands of Brisbane apartments are at risk of not settling over the next 24 months due to tighter lending conditions and the large number of units involved are being rejected by researchers, according to Lachlan Walker, director of Place Advisory and Place Projects. 
The claim did not give consider decisions by the major banks to pull out of development funding throughout inner Brisbane, says Diana Howes, director of Resolution Research, according to his recent writeup in www.therealestateconversation.com.au.
Furthermore, claims that banks are no longer lending to overseas buyers as a blanket statement are also generalised claims, with banks willing to lend, however at a higher 60 per cent LVR.
Howes does not anticipate settlement valuations falling short of the contract prices for off-the-plan units.
“We reject the notion that the market is currently on the cusp of a major valuation risk phase – with developers still reporting valuations at, or close to contract values,” she said.
“With negligible price growth across the off-the-plan market over recent years, apartments currently under-construction should, in theory, be valued in line with their recently completed counterparts.
“Although we have seen an estimated 15 per cent rise in construction costs over the past three months, which has translated into lifts in off-the-plan values, many of these apartments are yet to even start construction and given the pull back in development finance, a large proportion are unlikely to. This further strengthens our argument that thousands of apartments within inner Brisbane are NOT at valuation risk.”
Howes said investor sentiment in the Brisbane market remained solid and there was no evidence of a trend towards speculative investment; in fact quite the contrary.
Resolution Research's research examined the mind and mood of the investor market and revealed the following key opinions and attitudes:
* Buyers have an average hold strategy of 5 years
* Buyers are risk averse and shop the market to ensure they are securing a solid value proposition
* Speculative (short-term) investments are felt to be more likely to have upside in the share market as opposed to the property market
An analysis of resales across six major high density developments over an 18-year period (1997 through to 2015) in Fortitude Valley and Brisbane’s CBD reveals an average annual rate of capital appreciation of 6% across the market. This is a healthy rate of appreciation and clearly highlights a long-term hold strategy for inner Brisbane apartment developments yields high returns, it says. 
Importantly, although resales do fluctuate over both the medium (five-year) and long terms, average annual median price growth has been recorded. It is equally important to note that across these timeframes owners of these apartments have been through the GFC and two periods of speculation of market oversupply (in 2003 and again in 2007).
In essence, a conservative approach to purchasing in inner Brisbane, on average, results in an appreciation in values. This study shows that ownership spanning across the GFC and speculative times of oversupply in 2003 and again in 2007 have failed to have a negative impact on market values over a longer term hold period.
The claim by CoreLogic RP Data  that 81,696 apartments would be delivered into Brisbane’s market over the next two years was unfounded. This figure assumes that 100 per cent of all stock will be funded which is not the case in an environment where three of the big four banks state that they are no longer funding apartment developments within inner Brisbane.
"Brisbane’s apartment market is heavily influenced by lending conditions and we expect to see the future supply environment contract considerably," it said.
Inner Brisbane’s current pipeline of new apartments was 20,456 including those yet to be approved.
If we use inner Brisbane as the benchmark, which is where the overwhelming majority of stock is to be developed, we currently have 3,886 apartments which are now deferred.
 
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jchancellor-FAypfDUnLy

Brisbane's apartment settlement fears not credible: Lachlan Walker

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If actions do indeed speak louder than words, then politicians don’t give a damn about housing affordability.
Often you’ll see their lips moving, and they appear to care about the cost of housing, but then they’ll take actions that cause costs to rise and affordability to worsen.
Victoria’s 2016-17 State Budget provides another example of why housing is so expensive in this country and why affordability is an enduring issue (although not nearly as serious as mainstream media would have us believe, especially outside of Sydney). 
The Victoria Government has added to the taxation burden on the industry that creates new homes for families. The Property Council is right to be “deeply worried about the Government's unwillingness to deal with its property tax addiction” and to ask for a cap on property tax increases. 
Governments at all levels treat the Australian housing industry as a cash cow and in every budget they milk it more. And the cost of providing housing keeps rising, while politicians point the finger of blame at innocent parties such as foreign investors and negatively-geared Australian investors. 
“Land tax is up 28 percent, foreign investor taxes have been tripled and stamp duty is forecast to exceed $6 billion for the first time,” says the Property Council, in the wake of Victoria’s State Budget. “Melbourne cannot expect to remain Australia's most competitive city for property investment when its property tax haul is surging.
“Another area which concerns the property industry is the stockpiling of Growth Area Infrastructure Contributions (GAIC). Property developers are paying more than their fair share. It is time for the Government to provide full disclosure on where the money is being spent.”
The so-called clampdown on foreign investors is, sadly, another ploy by politicians to give the appearance of doing something about housing affordability while finding new ways to milk the property industry of revenue.
It’s a little like the Federal Government lifting the tax on cigarettes – they claim it’s to discourage smoking but in reality it’s a grab for revenue. If they were serious, they’d ban smoking altogether, just as they would ban foreign buyers if they truly believed they were the prime cause of high house prices in Sydney and Melbourne. 
Victoria has introduced new taxes to slug foreign buyers and NSW is gearing up to do the same, while pretending it’s really a clampdown on illegal activity which allegedly pumps up prices.
The NSW Government is introducing new rules from July. Buyers and sellers of real estate will have to prove their residency and citizenship status before a sale is completed. A land tax certificate showing whether any money is owed must be supplied to a home-buyer by the vendors. The vendors must disclose their residency status and nationality when applying for the certificate. Foreign buyers will have to provide citizenship and visa details, plus FIRB clearance, through the stamp duty process.
The NSW Office of State Revenue will collect the new information on buyers' nationality. This will be passed to the ATO for inclusion in a national register of foreign ownership of land titles, which begins on July 1. The ATO will match data to ensure foreign buyers have paid a $5,000 fee for any property sold for less than $1 million, and $10,000 for properties over $1 million.
The process paves the way for the NSW Government to follow Victoria in imposing foreign buyer surcharges on land tax and stamp duty in the future.
How these moves address housing affordability is a mystery.
Here’s one way it may make it worse. Deterring foreign investment, upon which many major high-rise apartment projects depend, makes it likely many projects will not be built. The reduction in supply adds to the pressures which causes prices to rise.
NSW executive director of the Property Council Jane Fitzgerald says: “Turning investors away by imposing a huge new tax is one way to ensure it doesn’t get any better. There are international investors right now considering whether to build in NSW. If they choose to go elsewhere our housing affordability crisis will worsen.”
Well, exactly. But politicians, generally inept at seeing beyond the end of their noses, haven’t thought it through to that degree.
Rather than seeing foreign investment as being part of the solution (helping to lift the supply of dwellings), they choose to see them a problem – or perhaps, more correctly, as an unpopular minority to blame without losing votes.
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>
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Politicians don’t give a damn about housing affordability: Terry Ryder

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The LJ Hooker agents behind the closure of their franchise in Glen Waverley have two of their Narre Warren properties listed for auction.
Judy Thanh Truc and her husband Joseph Ngo, who are at the centre of controversy after there were irregularities found in a LJ Hooker franchisee trust account, have listed the homes through Ray White.
Homeowners and tenants are said to have lost millions of dollar from the couple who were named LJ Hooker's "Best Team of the Year 2015", according to their now-offline website.
Six LJ Hooker offices in Melbourne have been closed and their franchise agreement has been terminated.
Jane Garrett, Consumer Affairs Minister said that Consumer Affairs Victoria had placed caveats on the two properties, to ensure the sale proceeds are retained as required.
Both are worth more than $1.5 million.
The move comes after Garrett earlier froze the trust funds from the franchises, the records of which are now being examined by CAV.
The two Cranston Close homes have been only owned for a few years.
The first was bought in 2014, when they paid $1.35 million for the sprawling contemporary family home with tennis court and built in playground.
<a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122627030">It has five bedrooms, four bathrooms,</a> two kitchens, home office and a cinema room.
The second was bought only last year, and is <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122626722" target="_blank">just two doors down</a>.
Bought in August, the $1.65 million home offers similar privacy on a one acre plot.
At the end of the circular driveway sits the five bedroom home with grand entrance portico.
Each of the five bedrooms have ensuites, there's a teenage retreat upstairs and a large upstairs open entertaining patio.
There is no word on the asking price for the two homes, but they are both available through Ray White Noble Park/Springvale agent Allison Grant for an in room auction on June 8.
Barry Plant, head of the Victorian estate agency that bears his name and which is in talks with LJ Hooker about creating a joint venture company, said the Melbourne trust fund missing millions matter would not affect their ongoing talks. 
 
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LJH trust fund couple's Narre Warren homes for June auction

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Housing affordability (and rental affordability) in Queensland is not the same issue that it is in the southern states, and so when national media and national organisations talk about “our affordability problems” they are generally referring to Sydney and Melbourne.   
However, this week Anglicare released its snapshot research into rental affordability, looking at more than 7400 properties listed on realestate.com.au on one weekend to create a picture of the city’s affordability.
The snapshot found (among other things) that around 11 percent of advertised rentals (796 listings) would be affordable for a family where two adults worked minimum wage jobs and had two young children.
The snapshot also found that there were very few options for adults, either couples or singles, who were on welfare payments to rent their accommodation without being in financial distress (where more than 30 percent of income was allocated to accommodation).
The REIQ’s concern about this snapshot is that it might not present the most accurate picture, which then affects the conclusions drawn. It is important also to be aware that not all rentals are advertised on realestate.com.au. A significant level of rentals is listed on other prominent portals, and there is also a significant number advertised privately. So the realestate.com.au snapshot is not necessarily the most precise source of information about all rentals in the market at any one time.
Having said that, the REIQ does believe that housing should be affordable for all members of our community and we work closely with a range of organisations in an effort to ensure housing affordability does not fall through the cracks and get neglected as a social issue.
The REIQ forms part of the Housing Affordability Expert Panel, formed by the Minister for Housing and Public Works, Mick de Brenni, and we meet regularly with other similar organisations to offer feedback and information that helps the Minister manage housing affordability in Queensland.
We also work with RentConnect, a Queensland Government department that helps those in lower socioeconomic brackets secure affordable housing. We teach real estate agents how to fairly and properly assess those who apply for rental accommodation and how to help them find the services that will help them finance their rentals.
One of the things we regularly teach consumers is that the listing price, with both rentals and property sales, is always negotiable.  This is the wish-list price and should always be regarded as a starting point only.
The negotiability of these wish-list prices will grow over the next 18 months as the much-written about supply of apartments comes to market. We expect landlords to become more flexible as rents soften and supply continues to grow. This will definitely improve affordability in Brisbane’s rental market.
For more information from the REIQ, <a href="https://www.reiq.com" target="_blank">click here</a>.
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