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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EXPERT INSIGHT

This year will deliver a nationwide property boom. I have few doubts about that and my confidence is strengthened by the number of commentators who are now forecasting a year of strong growth. It’s not often we see all kinds of analysts agreeing about what will happen with property prices.

It’s even rarer for economists to publish optimistic predictions. Even the major bank economists are bullish about real estate this year. Pretty much everyone with a public view about the direction of real estate markets – economists, media columnists, various attention-seekers and genuine real estate analysts – have been unanimous in tipping substantial price growth in 2021.

Perhaps the only point of difference among the pundits is how much. But many of them are expecting double-digit increases in median prices. It’s not so long ago that major media, fueled by pessimistic economists, was strident in declaring an impending collapse in property values. The housing market proved the naysayers wrong: 2020 was the best possible advertisement for residential property as an asset class, as most markets delivered growth in defiance of the pandemic.

The latest figures from CoreLogic suggest that all capital cities except Melbourne had price growth in 2020, with Canberra, Adelaide, Darwin and Hobart all rising between 6% and 9%. Sydney (up 4%), Brisbane (4.6%) and Perth (2%) all recorded moderate growth in their house prices, in a year when most of the nation’s cities defied the pandemic and its negative economic impacts. That’s a commendable performance but the capital cities were out-done by many of the regional markets.

House prices rose 12% in Regional Tasmania (compared to 7.7% in Hobart), 8.8% in Regional NSW (compared to 4% in Sydney), 7.8% in Regional South Australia (compared to 6% in Adelaide), 7.3% in Regional Queensland (compared to 4.6% in Brisbane) and 5.5% in Regional Victoria (compared to a 2% decline in Melbourne). Unit markets also did well in the regions, with price increases headed by South Australia (up 11.7%) and Tasmania (up 10.5%). NSW, Victoria and Queensland all recorded unit price rises between 5.5% and 6.5% in the regional areas.

The only regional market to record price decline was Western Australia, which dropped both for houses and for units. These figures show that the momentum for a national property boom is already building and indeed that some markets are already surging strongly. The infrastructure-led economic recovery planned by federal and state government will add to that impetus. Few things generate momentum in residential property markets like big spending on new infrastructure and politicians have shown they are willing to put their budgets into debt to fast-track projects that are shovel-ready or close to it. Another big factor likely to put upward pressure on prices is the level of vacancy rates around Australia.

Outside of the inner-city areas, vacancies are very low in most locations and in some they are so low it represents a rental market crisis. The upward pressure on rentals is considerable, particularly when prospective tenants are offering more than the asking price to secure properties ahead of the competition.

A further factor to consider is that the growth achieved in 2020 occurred without much involvement from investors. First-home buyers and other owner-occupiers have dominated – but there are signs this is changing. I expect investors – who, as a cohort, tend to react to market trends rather than lead them – to be a lot more prominent this year and that will further turbocharge property prices. Outside of those inner-city areas, it’s a great time to be a landlord.

Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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A factor to consider is that the growth achieved in 2020 occurred without much involvement from investors, first-home buyers and other owner-occupiers have dominated 

terryryder

2021 will see a nationwide Australian property boom: Hotspotting's Terry Ryder

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GUEST INSIGHTS

In cities around the world, temperatures could rise by <a href="https://www.scientificamerican.com/article/cities-face-withering-heat-under-worst-warming-scenarios/">more than 4℃</a> by 2100 under a high-emissions climate change scenario, suggests <a href="https://www.nature.com/articles/s41558-020-00958-8">research published this week</a> in Nature Climate Change.

It comes as the Bureau of Meteorology’s <a href="http://www.bom.gov.au/climate/current/annual/aus/">annual climate statement</a>, released today, shows 2020 was Australia’s fourth-warmest year on record, despite being an “La Niña” year, which usually leads to cooler temperatures.

Cities occupy just 3% of Earth’s surface. As this portion of land is so small, they’ve typically been left out of most climate models, which generally make projections on global scales.

Yet more than half the world’s population live in urban environments (set to jump to 70% by 2050). This is why the researchers call for “multi-model projections” of local climates for cities.

In the study, the researchers say their predictions on climate will give “urban planners and decision-makers in any city […] access to city-specific projections for any planning horizon they need”.

It’s important these planning horizons include the cooling and shading provided by <a href="https://theconversation.com/heres-how-green-infrastructure-can-easily-be-added-to-the-urban-planning-toolkit-57277">green infrastructure</a> — the network of green spaces such as street trees and green walls — in urban areas.

For Australia, this means getting a national green infrastructure policy that provides for green spaces within our cities, open spaces and buildings to help with increasing density and rising global temperatures.

What the research found

Heat events, such as heatwaves, pose <a href="https://www.health.gov.au/health-topics/emergency-health-management/heatwave-health-tips-and-information">a significant health risk</a> and can <a href="https://theconversation.com/smart-urban-design-could-save-lives-in-future-heatwaves-33246">hit people harder in cities</a>.

Cities are hotter than in surrounding regional areas due to “<a href="https://www.nationalgeographic.org/encyclopedia/urban-heat-island/">the urban heat island</a>” effect, a result of heat created by all the densely packed people, vehicles and industries, and the heat retained among buildings and other infrastructure.

Despite having the highest population density, the researchers point out that urban areas aren’t often represented in the <a href="https://www.wcrp-climate.org/wgcm-cmip/wgcm-cmip5">Coupled Model Intercomparison Project</a>. This project is important because it informs the global authority on climate change (the <a href="https://www.ipcc.ch/report/ar5/syr/">International Panel on Climate Change</a>).

So the research authors built a statistical model emulating a complex climate model with urban regions. And they estimate that, by the end of the century, average warming across global cities will increase by 1.9℃ under an intermediate emissions scenario, and 4.4℃ with high emissions.

Urban warming would most affect mid-to-northern parts of the United States, southern Canada, Europe, the Middle East, northern Central Asia and northwestern China.

They also predict that the <a href="https://www.weather.gov/ama/heatindex#">heat index</a> would increase faster than air temperature alone over almost all cities. “Heat index” refers to how hot the human body actually feels, a combination of relative humidity and air temperature. This would mean urban residents would experience higher heat stress.

What does this mean for Australia?

While the research found most urban warming would occur in the northern hemisphere, Australian cities are also projected to continue to warm. But we need only look to the recent record-breaking years to realise climate change will result in more extremely hot days here.

2019 was <a href="http://www.bom.gov.au/state-of-the-climate/future-climate.shtml">Australia’s hottest</a> (and driest) year on record. And today’s <a href="http://www.bom.gov.au/climate/current/annual/aus/">annual climate statement</a> from the Bureau of Meteorology shows the highest temperature ever recorded in the Sydney Basin, at a whopping 48.9℃, occurred in 2020, on January 4. It also found the average national temperature for 2020 was 1.15℃ higher than normal.

These are nationwide findings, but how Australia manages climate in urban areas is particularly important as around <a href="https://www.abs.gov.au/statistics/people/population/regional-population/latest-release#capital-cities">80% of population growth</a> occurs in capital cities.

In fact, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0169204620301407">2020 research</a> found we’re increasingly facing more frequent and prolonged heatwaves that intensify urban heat islands in places such as Sydney, by raising inland temperatures by as much as 10℃ more than in coastal zones.

Keeping cities cool

The best way to ensure our cities are kept cool is through greening urban spaces. Green spaces can be developed by planting trees in streets, yards and parks for shade, recreation and relief from the heat. This will create cooler urban “microclimates” for social interaction and <a href="https://theconversation.com/cities-will-endure-but-urban-design-must-adapt-to-coronavirus-risks-and-fears-135949">natural retreats</a> from city life.

<a href="https://www.dpie.nsw.gov.au/premiers-priorities/greening-our-city">Greater Sydney</a>, for example, has a welcome new policy to ensure five million more trees are planted by 2030. This is an important long-term goal as <a href="https://www.sciencedirect.com/science/article/abs/pii/S221067071630066X">2016 research from Canada</a> found tree cover in daytime reduced air temperature by up to 4℃ in Montreal city.

The design of buildings and their immediate surroundings are also important to help manage increasing heat in our cities.

Our open spaces are places of exercise, retreat, relaxation and, in a new COVID world, socially distant interactions. The pandemic has allowed us <a href="https://www.smh.com.au/national/nsw/popularity-of-parks-prompts-call-for-ideas-to-re-imagine-public-spaces-20200715-p55c5z">to rediscover</a> the importance of our community and local connections in these spaces.

Multi-storey buildings also provide opportunity for vertical greening. The Victorian government, for example, is seeking <a href="https://www.planning.vic.gov.au/policy-and-strategy/planning-for-melbourne/plan-melbourne/cooling-greening-melbourne/green-wall-on-the-go">to increase</a> the amount of green infrastructure in our urban areas to help us cope with predicted warmer conditions.

Australia needs a national planning policy

Urban planning and greening urban spaces is largely a local government responsibility, usually overseen by state and territory governments.

And there is national recognition of the importance of green cities through the federal government’s <a href="https://www.infrastructure.gov.au/cities/smart-cities/plan/index.aspx">Smart Cities Plan</a>. It states:

Green, sustainable cities […] improve the quality of air and water, reduce the heat island effect, protect biological diversity and threatened species, and enhance general amenity.

But what’s needed, urgently, is a national planning framework of green city principles so no regions get left behind. Climate change is a national issue, and all urban residents from all socioeconomic backgrounds should benefit from green cities.

This national planning policy would describe how our cities across the nation should develop appropriately spaced trees and other vegetation, to better manage and prepare for increasing density and greater activity as climate change brings hotter weather.

And importantly, more research is needed to better inform climate models. We need more information into the ways our climates will change within different land areas — whether rural, suburban or in cities — so we can develop better national plans for how we will live and work in the future.

<a href="https://theconversation.com/profiles/mark-maund-804795">Mark Maund</a>, Research Affiliate, School of Architecture and Built Environment, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>; <a href="https://theconversation.com/profiles/kim-maund-497893">Kim Maund</a>, Discipline Head – Construction Management, School of Architecture and Built Environment, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>; <a href="https://theconversation.com/profiles/marcus-jefferies-1193769">Marcus Jefferies</a>, Senior Lecturer School of Architecture and Built Environment, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>, and <a href="https://theconversation.com/profiles/sueanne-ware-984197">SueAnne Ware</a>, Professor and Head of School of Architecture and Built Environment, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cities-could-get-more-than-4-c-hotter-by-2100-to-keep-cool-in-australia-we-urgently-need-a-national-planning-policy-152680">original article</a>.
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Climate change is a national issue, and all urban residents from all socioeconomic backgrounds should benefit from green cities

urban.com.au

Cities could get more than 4°C hotter by 2100, Australia needs a national planning policy

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GUEST INSIGHTS

The commuter's paradox: there's something to gain in the space between home and work

Academics <a href="https://theconversation.com/profiles/meg-elkins-427201">Meg Elkins</a> and <a href="https://theconversation.com/profiles/robert-hoffmann-219366">Robert Hoffmann</a> found for many of us, one of the upsides of 2020 was being freed from the grind of the daily commute.

For the <a href="https://theconversation.com/teleworkability-in-australia-41-of-full-time-and-35-of-part-time-jobs-can-be-done-from-home-140723">40% of the workforce able to “telecommute</a>”, COVID-19 social distancing measures saved us an average of <a href="https://theconversation.com/australian-city-workers-average-commute-has-blown-out-to-66-minutes-a-day-how-does-yours-compare-120598">about an hour a day</a> – and much more for those of us living in the outer suburbs of cities.

Studies show <a href="https://www.aeaweb.org/articles?id=10.1257%2F089533006776526030&amp;source=post_page">the morning commute</a> is the least favourite part of the day, and the commute home the third-least favourite (working is the second-least favourite).

Congestion, crowding and unpredictability increase stress and dissatisfaction. The longer it takes, and the more we have to do in the company of others, the more <a href="https://www.tandfonline.com/doi/full/10.1080/01441647.2019.1649317">we dislike it</a>.

But it’s also possible to miss aspects of that enforced time between work and home. For all its downsides, the daily commute does have some positives, acting as both a starter button and circuit breaker to differentiate work from home life.

As life returns to “normal” and employers ask us to return to the workplace, thinking consciously about those benefits can help make the most of your commute.

A commuting constant

Though we think of commuting as a modern phenomenon, spending time getting to and from work is as old as humanity. Hunting and gathering (going back 200,000 years), farming (about 10,000 years), and living in cities (about 5,000 years) all involved leaving and returning home. These routines seem to have ingrained in us an idea of acceptable travel times.

In 1994 an Italian physicist, Cesare Marchetti, wrote a paper, <a href="https://www.cesaremarchetti.org/archive/electronic/basic_instincts.pdf">Anthropological Invariants in Travel Behaviour</a>, on the “quintessential unity of travelling instincts around the world, above culture, race and religion”.

Drawing on the work of Israeli transport analyst Yacov Zahavi, Marchetti proposed humans had always been willing to spend about an hour a day travelling from and to home.

This idea of commuting time being 30 minutes each way has become known as Marchetti’s Constant. <a href="https://link.springer.com/article/10.1023/A:1010366321778">In a 2001 paper</a>, travel researchers Lothlorien Redmond and Patricia Mokhtarian found most people’s ideal commute time was, in fact, less – an average of 16 minutes – but their results also confirmed the dislike of any commute longer than 35 minutes.

A psychological buffer

The longer the commute times, the more <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/25195346?seq=1">stressed and dissatisfied</a> we feel.

Yet without time between home and work, there’s also a downside. As Marchetti wrote: “Even people in prison for a life sentence, having nothing to do and nowhere to go, walk around for one hour a day, in the open.”

Commuting can be a ritual that helps us psychologically separate home life and work – switching off from personal concerns in the morning, and then detaching from work worries in the evening. A huge body of research over the past four decades show this “<a href="https://pdfs.semanticscholar.org/6d7e/066e2560942e54b68126cde36981e0a4ec9b.pdf">psychological distance</a>” is crucial to well-being.\

Research also shows that switching from our <a href="https://www.propertyobserver.com.au/https://doi.org/10.1177/036168430903300303">home to work “identities”</a> carries cognitive demands. A buffer between the two can help make this transition.

It is possible to achieve this psychological distancing without a commute, of course – by going for a morning walk and changing into work clothes – but the demands of both family and work responsibilities often mean we don’t make that time.

Making the most of your commute

So we shouldn’t necessarily spurn the return to the daily commute. Yes, there are downsides, but being conscious of the psychological benefits enables you to maximise its benefits.

Rather than thinking of it as dead time, think of it as “me” time.

In the morning, use your commute to plan your day. Research has found <a href="https://pubsonline.informs.org/doi/abs/10.1287/orsc.2020.1370">this increases satisfaction at work</a> and makes longer commutes more palatable. Maintaining <a href="https://hbr.org/2017/05/reclaim-your-commute?utm_source=zapier.com&amp;utm_medium=referral&amp;utm_campaign=zapier">small routines</a> on the way has also been found to help.

In the evening, use the time to unwind with pleasurable activities such as reading, playing mobile games, calling a friend or family member, listening to music or a podcast. These are activities you won’t necessarily have time for once you get home.

Doing nothing is good too. Many of us have little time for idle thoughts. Here’s a chance to let your mind wander. <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4711352/">Free thought time</a> helps to solve problems and inspire creativity.

And, of course, switch to walking or cycling if you can. Along with the “alone” time it gives you, physical activity is strongly associated with <a href="https://www.sciencedirect.com/science/article/pii/S2214367X17301527?casa_token=5Ip4F4cfTp4AAAAA:9KlCbm2Xwl_MrN5eJEhWQm5OSISOCMCr8uXw6BfnHZu4jaM3ZivUvnIEj162HmgUlgQ3KyEzrw">higher overall happiness</a>.

You can’t necessarily control the amount of time you spend commuting, but you can control what you get out of it.<img alt="The Conversation" edceja="" ewwhlmcbx="" height="1" or="" qalukrwlr="" rgdwemapd="" src="https://counter.theconversation.com/content/152887/count.gif?distributor=republish-lightbox-basic" width="1">

<a href="https://theconversation.com/profiles/meg-elkins-427201">Meg Elkins</a>, Senior Lecturer with School of Economics, Finance and Marketing, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/robert-hoffmann-219366">Robert Hoffmann</a>, Professor of Economics and Chair of Behavioural Business Lab, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-commuters-paradox-theres-something-to-gain-in-the-space-between-home-and-work-152887">original article</a>.
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You can’t necessarily control the amount of time you spend commuting, but you can control what you get out of it

The commuter’s paradox, what Australians gain and lose commuting

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A record two thirds of Australians say now is a good time to buy property, according to the latest research from comparison website Finder.

Having surveyed over 20,000 respondents in their Consumer Sentiment Tracker nationally, 67 per cent believe now is a good time to buy, an all-time high since Finder began tracking the stat in May 2019.

It was 42 per cent in April. 
Graham Cooke, insights manager at Finder, said that the recent uptick in buyer confidence is a good sign for the economy.  
“This rebound in buyer confidence is indicative of increased economic activity over the past few months, along with an optimistic outlook for 2021," Cooke says. 
“Not only did the Australian government do a better job than most at restricting the spread of COVID-19, but federal and state economic support measures helped prop up the property market.  

<img alt="" height="738" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/finder_survey_january.jpg" width="1200">

“Now we're seeing that house values in every capital city bar Melbourne are higher than they were compared the same time last year.  
“This trajectory looks set to continue, with 86% of economists telling Finder* that they expect prices to fully recover nationally this year,” Cooke said. 

Nearly 19 per cent of Australians expect house prices to "significantly increase" in their area. That was just five per cent in September. 
Those who expect property values to "somewhat increase" has jumped to 44% from a low of 18% back in April. 
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Graham Cooke, insights manager at Finder, said that the recent uptick in buyer confidence is a good sign for the economy.

A good time to buy property? A record high number of Aussie's think so

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The impact of COVID-19 has seen young Australians more committed to home ownership, according to research by the listed mortgage broking firm Mortgage Choice.

Around 45 per cent of survey respondents are more likely to want to purchase a home now, with a similar number feeling optimistic about achieving their homeownership goals.

Over 60 per cent of young people are reducing their spending, with 58.5 per cent adding more to their saving accounts and 43 per cent are applying for government grants for first home buyers.

Mortgage Choice chief executive Susan Mitchell says young people are not giving up on the great Australian dream despite the challenges of getting in to the property market.

"In times of uncertainty, it is human nature to want stability, and this is what investing in property can provide," Mitchell says.

“The fact that first home buyers can now access the most competitive home loan rates on record and unprecedented levels of government support such as grants and schemes provides compelling incentives to act on property ownership dreams.”

“I would encourage homebuyers who are navigating their way into first-time property purchase to enlist the help of an experienced mortgage broker to help them put their best foot forward.

First home buyers have been the most active segment over the COVID-19 pandemic. Finder's research showed that 11,018 first home buyers bought a property in July, 20 per cent more than May.

Over August data from the ABS showed mortgage approvals for first home buyers jumped by 17.7 per cent over August.
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Around 45 per cent of survey respondents are more likely to want to purchase a home now, with a similar number feeling optimistic about achieving their homeownership goals

COVID-19 sees young Australians more keen on committing to home ownership

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Private sector house approvals jumped 6.1 per cent over November to reach their highest levels since 1999, figures released by the ABS found.

They've now soared by 40 per cent since June.

Daniel Rossi, director of construction statistics at the ABS, said that Federal and state housing stimulus measures and low interest rates have resulted in strong demand for detached dwellings.

There were 11,489 houses approved for building over November.

Queensland led the way in approvals, up 17 per cent, followed by Western Australia up 7.5 per cent.

South Australia saw 2.8 per cent more private sector houses approved, Victoria 1.5 per cent and New South Wales 0.7 per cent.

<img alt="" height="1083" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/november_building_approvals.jpg" width="1200">

Total building approvals were up 2.6 per cent, beating economist forecasts of a two per cent rise.

Over October approvals rose 3.6 per cent.

 
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There were 11,489 houses approved for building over November

Private sector house approvals reach highest levels since 1999

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EXPERT INSIGHT

This year has been a rollercoaster for residential values, from January onward the market began to rally off the back of some political and financial certainty in Q3/Q4 2019.

This ended abruptly at the beginning of lockdowns as we saw prices decline seemingly 10-15% overnight.

Once restrictions were lifted, buyer sentiment and demand returned to near pre-lockdown levels while the number of properties on the market remained considerably less than comparable months in previous years.

Low stock levels meant that there was a shift in the supply/demand dynamic which is now weighted toward larger dwellings as buyers' value usable space more than ever.

With stronger demand per property some local markets saw houses sell for record highs towards the end of 2020, surpassing previous peaks set in 2017. The apartment market has not been as lucky due to other external factors that appear to have stagnated prices however for the most part, this segment of the market has remained stable since restrictions were eased.  

Over the year we also saw a sharp decline in rents which has meant less investors were actively looking at residential property due to lower yields. What we are now seeing is a steady return of investors to the market due to the poor performance of cash so while yields may have declined, the net position of many investors remains relative due to lower borrowing costs.  

Next year the following changes are proposed to take place which will have significant impact on the local residential property market:

Changes to the National Consumer Credit Protection Act - 1 March 2021 
While it won't quite be like the old days when you would walk into a bank and walk out with a loan approval, one of the legislative frameworks that banks work within and are held to account will be eased. This is proposed to shift the balance of responsible lending from lender back to consumer which will have interesting effects, one of which we will likely see is an increase in borrowing in affordable markets where access to credit has previously not been possible or too expensive. Is a bubble coming, maybe, all we know for sure is that there will be more money in the market which will likely lead to price growth. 

COVID-19 Vaccine - First half 2021 
Many industries and local businesses seem to be almost back to normal (apart from distancing measures) so while we are able to live and operate locally without a vaccine, the news is welcomed and will give certainty to businesses and consumers who will be able to forward plan and travel internationally. To give you an understanding of one of the biggest impacts a vaccine will have, International tourism in Australia is a ~50 Billion dollar industry that is currently non-operational. 

Changes to stamp duty in NSW - Second half 2021 
The formula of how the new duty will be accrued is yet to be determined and this will impact the feasibility of a more transactional property market, however the reform in principle has been welcomed by both potential buyers and sellers. As always, time will tell, however we expect to see this enable the business of real estate manage cashflow better (developers, investors etc.) which will create additional activity and subsequently increase prices with competition.

Overall, in 2021 it will be a good year to own residential property, I expect the detached dwelling market to continue to outperform others in inner suburbs while we will likely see a renaissance in off-the-plan sales as investors and first home buyers begin competing for the same stock, leaving a hole in the market and pushing up prices making currently held development sites more feasible.

Chris Orr is the director of residential at Savills Australia
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This year has been a rollercoaster for residential values, from January onward the market began to rally off the back of some political and financial certainty in Q3/Q4 2019.

2021 will be a good year to own residential property: Savills director of residential Chris Orr

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The traditional Christmas property listing decline saw listings fall -7.9 per cent over December, down from 296,267 in November to 272,999, figures released by SQM Research show.

Sydney drove the decline, down -18.3 per cent, although their 26,038 total listings in December 2020 was 13.8 per cent higher than it was in December 19 (22,888).

Listings in Melbourne were a huge 30.5 per cent higher than in December 2020 compared to 2019. They have 39,475 listings on the market compared to 30,247 12 months ago.

New listings were unsurprisingly down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.

<img alt="" height="564" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sqm_december_listings.jpg" width="1200">

Sydney’s new listings decreased by 41.8 per cent followed by Melbourne which decreased by 27.1 per cent. 

Hobart was the only capital city that recorded an increase in new listings of 0.8 per cent.

Louis Christopher, managing director of SQM Research said it's no surprise to see listings decline at this time of the year.

“The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period," Christopher says, adding however that activity was strong all the way through to the last weekend before Christmas.

He said this was unusual and likely reflected a degree of catch up from the property inspection restrictions earlier in the year.

"Going forward I believe listings activity is going to remain strong in early 2021 but could weaken on the wind up of Job Keeper in March 2021.

"We believe Job Keeper has provided support to the market over 2020.”

 

 
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New listings were down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.

Property listings tail off in December, but activity strong through to Christmas: SQM Research

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Home loan deferrals secured early during the pandemic continued to decline in November.

They are now down to 2.8 per cent of home loans and 2.3 per cent of all loans, according to the latest APRA data..

The share of loans deferred has fallen from above 10 per cent at the May 2020 peak. 

<img alt="" height="948" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/loan_deferrals_december.jpg" width="1200">

Source: APRA

While Victoria retained by far the highest share at nearly four per cent, following the state's lockdown, there was also a sharp decline among Victorian borrowers. 

<img alt="" height="894" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/housing_deferrals_state_december.jpg" width="1200">

Source: APRA

Property commentator Pete Wargent expects deferrals will be back into the normal range by the end of March, “assuming lockdown measures don't encroach again.”

Tim Lawless at CoreLogic noted “the significant reduction in deferred loans implies the risk of a surge in distressed properties coming on the market has reduced substantially.” 
“However there are likely to be some key precincts where distressed property sales will be more common, such as inner city high rise apartment markets where vacancy rates have risen substantially and rents have reduced,” Lawless said.

APRA calculated as at 30 November, according to data submitted by ADIs with over $20 million in loans subject to repayment deferral, a total of $60 billion worth of loans are on temporary repayment deferrals, which is around 2.3 per cent of total loans outstanding. 

Exits from deferral continued to outweigh new entries for the fifth straight month in November, with $32 billion in loans expiring or exiting deferral and $7 billion entering or being extended. 

Victoria remains the state with the highest proportion of loans subject to deferral amongst the states and territories, with 3.2 per cent of loans deferred compared with the rest of the country at 1.7 per cent. 

 
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The share of loans deferred has fallen from above 10 per cent at the May 2020 peak

jchancellor

Home loan deferrals continue to decline from May peak

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Last year, Perth-based M/Group and its construction arm, M/Construction, delivered its second Quest Apartment project, Quest Perth Ascot and although construction of the 112-room apartment hotel was subjected to lengthy planning approval delay and Covid-19 regulations, it met strict building timeframes due to a new development model and building process that saw one floor completed every two weeks.

The main structure of Quest Perth Ascot officially commenced in January 2020 and the building was fully completed in August of the same year, an eight-month build.

M/Group Managing Director, Mr Lloyd Clark, said the formula used on the project had been perfected in the development of Quest Joondalup several months prior

“The M/Construction team used a building process that combined pre-cast concrete walls and a hollow core flooring structure with the integration of construction methodologies and custom-designed feature."

“The process allowed for up to 100 people on site at once, and the building program was coordinated and synchronised to adhere to new Covid-19 safety regulations."

With concrete floors and toppings poured and cured over the weekend to create self-supporting formwork, the workspace below was obstruction-free for follow-on trades to install framing and services unencumbered. The process effectively shaved some three to four months off the construction timeline

The Quest Perth Ascot project was the result of an $11.5 million development fund managed by M/Group. Its success was preceded by Quest Joondalup which won a finalist nomination in the 2020 World Travel Awards. 
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The main structure of Quest Perth Ascot officially commenced in January 2020 and the building was fully completed in August of the same year, a build time of just eight months

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