<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>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.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>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.</p>

<p>"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.</p>

<p><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" /></p>

<p>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.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>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.</p>

<p>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.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>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.</p>

<p>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.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>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.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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;</p>

<p>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.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"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.</p>

<p>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.</p>

<p>A major focus of the design has been the public domain.</p>

<p>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.</p>

<p>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.</p>

<p data-end="239" data-start="66">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.</p>

<p data-end="442" data-start="241">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.</p>

<p data-end="661" data-start="444">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.</p>

<p data-end="909" data-start="663">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.</p>

<p><em>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></em></p>

<p data-end="1339" data-start="1019">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.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">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.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">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.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">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.</p>

<p><em>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></em></p>

<p><em>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></em><br />
&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


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

<p data-end="492" data-start="327">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.</p>

<p data-end="843" data-start="497">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.</p>

<p data-end="1109" data-start="848">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.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


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

<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<p><span style="line-height: 1.3em;">One of Victoria's most impressive pastoral homestead, Mount Mitchell at Lexton, 40 kilometres northwest of Ballarat, has been listed for sale.</span></p>
<p><span style="line-height: 1.3em;">The five bedroom 100 squares bluestone home with 14 open fire places, </span>that dates<span style="line-height: 1.3em;"> back to the Robertson family pioneering connection, has been listed </span><span style="line-height: 1.3em;">through Pat Rice &amp; Hawkins.</span></p>
<p><span style="line-height: 1.3em;">Offers on the 310 hectare holding <a href="https://www.realestate.com.au/property-lifestyle-vic-lexton-7684059" target="_blank">close November 11 with $4.5 million plus hopes</a>.</span></p>
<p><span style="line-height: 1.3em;"><span>Constructed around the central courtyard with its historic horizontal elm tree, t</span><span>he Mount Mitchell homestead was designed by the Charles Webb, who was the architect for a number of Melbourne’s foremost buildings including Tasma Terrace in East Melbourne. </span></span></p>
<p><span style="line-height: 1.3em;">The bluestone homestead, of Italian conservative classical design, sits with</span><span style="line-height: 1.3em;">in a four hectare garden.</span></p>
<p><span style="line-height: 1.3em;">The vendors, the fourth owners, have been there thirty plus years, buying it in a neglected state in 1981. </span></p>
<p><span style="line-height: 1.3em;">Construction of the homestead began in 1860 and was completed some twelve months later with a further replica section added in 1910. </span></p>
<p><span style="line-height: 1.3em;">Peter Hawkins, director of Pat Rice &amp; Hawkins, advised</span><span style="line-height: 1.3em;"> 766 acres was currently let under contract for cropping to a local farmer and also comprises highly productive red loams to heavier and darker soils considered to be volcanic in origin.</span><span style="line-height: 1.3em;"><br></span></p>
<p><span>The land is on a corner with the Sunraysia Highway and Dawson Road.</span></p>
<p><span><span>The building of the homestead commenced in 1860 and was completed during 1861 for Thomas Robertson senior and his eldest son James. Thomas lived there until his death in 1873 with James and his family remaining at Mt Mitchell until James death in 1893.</span><br><br><span>In 1910 Thomas Robertson senior's grandchild engaged another architect to design the additions which almost doubled the size of the original homestead. </span></span></p>
<p><span><span>In 1926 Mt Mitchell was sold to the new owner, Thomas Barrett who extended the garden and planted the pine trees which still grow along the full length of the driveway.</span></span></p>
<p><span><span> In 1936 Thomas Barrett sold Mt Mitchell to the Muller brothers and for a period of time the homestead was left neglected and in disrepair until it was purchased by the current owner Richard Salter.</span></span></p>
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jchancellor-FAypfDUnLy

Ballarat district bluestone Mount Mitchell homestead listed

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<p>There are 1,324 auctions scheduled this week in Melbourne compared to 1,616 for the same time last year.</p>
<p>The highest volume of auctions will be in Reservoir, which has 33 expected.</p>
<p>Last week was the second largest weekend for auctions in the city's history with 1,733 auctions compared to 1,837 in late October. The clearance rate dropped from 71% to 66%; this comparison between the two almost identical weeks provides a very clear summary of the change in the market over two months.</p>
<p>There are only two weekends for auctions now until Christmas.</p>
<p>On a citywide basis, the time on market results for houses sold at private sale contracted from 32 to 31 days over the last week and vendor discounting eased slightly to -5%.</p>
<p><strong>Key data:</strong></p>
<ul>
<li>Clearance rate week ending 7 December: 66%</li>
<li>Melbourne auctions expected week ending 14 December: 1,324</li>
<li>Melbourne private sales time on market week ending 7 December: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 December: -5% (houses)</li>
<li>Listings being prepared for market are 0.4% higher in month ending 7 December (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Reservoir homes go under the hammer: Melbourne's weekend auction preview

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<p>The Reserve Bank's Chart Pack is always worth a gander, being consistently and independently produced... and free from spin.</p>
<p>You can view the full chart pack <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">here</a>.</p>
<p>Let's run through what the Reserve Bank of Australia (RBA) has found this month for households and the housing market.</p>
<p><strong>Part 1: Households and finances</strong></p>
<p>Retail sales growth is humming along both in terms of values and volumes, largely driven by Sydney retail.</p>
<p><img src="/images/2015/01/8/graph%201.gif" alt=""></p>
<p>Savings ratios have been elevated since the financial crisis as households shored up their finances, but the ratio now appears to be gradually declining again as low interest rates encourage investment in growth assets.</p>
<p><img src="/images/2015/01/8/graph%202.gif" alt=""></p>
<p>Consumer sentiment has been knocked around a little by budgets and other adverse news, but remain fairly close to where it has been averaging for the last 34 years.</p>
<p><img src="/images/2015/01/8/graph%203.gif" alt=""></p>
<p>Household wealth in Australia is now at record highs in absolute terms. In terms of net worth as a percentage of annual household disposable income, asset values are growing nicely, and liabilities are holding steady.</p>
<p><img src="/images/2015/01/8/graph%204.gif" alt=""></p>
<p>Interest paid as a percentage of household disposable income has declined in tandem with mortgage rates . Indeed, mortgage serviceability is at its best level in more than a decade.</p>
<p><img src="/images/2015/01/8/graph%205.gif" alt=""></p>
<p><strong>Part 2: The housing market</strong></p>
<p>Stimulated by rising dwelling prices, building approvals brushed record highs, but have now seemingly passed their peak. We will see an oversupply of dwellings <a href="https://petewargent.blogspot.co.uk/2014/12/melbourne-continues-to-hammer-high-rise" target="_blank">in a few regions</a> – one would be wise to steer clear of these, of course.</p>
<p><img src="/images/2015/01/8/graph%206.gif" alt=""></p>
<p>Housing loan approvals rise to record highs, largely driven by investors in this cycle, the direct result of low borrowing rates.</p>
<p><img src="/images/2015/01/8/graph%207.gif" alt=""></p>
<p>And finally, to housing prices. As we expected some years ago, due to an inherent undersupply of dwelling stock and infrastructure, Sydney prices are soaring towards $1 million.</p>
<p>With both the M2 and the M7 closed again earlier this week, and barely a day passing without news of diabolical traffic woes, expect there to be a continuing surge of demand for properties located close to key transport hubs such as rail or light rail links.</p>
<p><img src="/images/2015/01/8/graph%208.gif" alt=""></p>
<p>Elsewhere, Melbourne has been looking peaky for months but has held up reasonably well to date.</p>
<p>Perth's market is trending slightly up but only moderately, while Canberra is now all set for a downturn. The Adelaide market – and particularly its economy – remains unconvicing,</p>
<p>Counter-cyclical investors should be scoping out opportunities in Brisbane, where housing finance is gathering momentum – as reconfirmed this week by <a href="https://www.afgonline.com.au/mortgage-index-january-2015/" target="_blank">AFG's December Mortgage Index data</a>.</p>
<p><strong> </strong></p>
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pwargent-M4siyDbqQY

How Australian households will look in 2015

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<p>I wonder what media is going to do with the latest admission from the Australian Bureau of Statistics (ABS) that it has been grossly under-estimating the number of first-home buyers in the market.</p>
<p>On Wednesday this week, the ABS posted an update on its "investigation to evaluate the robustness of estimates of loans to first-home buyers".</p>
<p>The investigation, it said, found that "some lenders experience difficulty reporting on loans where the buyers does not receive a first home owner grant".</p>
<p>This, as I pointed out in my column earlier this week (and commented throughout last year, as did other writers on <em>Property Observer</em>), is the nub of the matter. The ABS collects data from the banks on home loans, and the method of identifying a loan applicant as a first-home buyer has always been their application for the first home owner grant.</p>
<p>If the applicant does not apply for a grant, the system does not identify them as a first home buyer.</p>
<p>Since state and territory governments across Australia stopped providing grants for established properties, the number of grant applications has dropped significantly. The research shows that most first-time buyers opt for an established home (cheaper, usually with more land and often better located) over a new home – and therefore most first-home buyers are no longer receiving grants.</p>
<p>The banks no longer record them as first-home buyers.</p>
<p>Because of the under-estimation of first-home buyers, the ABS statistics on home loans have given the appearance that first-time buyers have almost vanished from the market.</p>
<p>Media has leapt on this as a recurring headline, giving rise to claims that young Australians have been priced out of the market – and then, as a natural progression, generating witch hunts to find someone to blame for the situation. Negative gearing benefits to local investors and the activity of foreign investors have been popular targets.</p>
<p>There have been thousands of articles written in the past 12-18 months about the demise of the Great Australian Dream, all based on a fundamental falsehood, created by the ABS miscount of first-home buyers.</p>
<p>It's a damning indictment on journalistic standards in this country that so few have picked up on this. Nobody thought to investigate. No one asked the most basic of questions. Media rushed en masse to the cheap and easy headline – the dream is dead because young Aussies can't afford to buy.</p>
<p>It took a simple phone call from my office in mid-2014 to extract an admission from the ABS that their figures on first-home buyers were wrong – and why they were wrong.</p>
<p>Just how wrong was demonstrated by the recent NAB survey which found that 25% of established homes sold are being bought by first-time buyers and that 24% of new homes are bought by first-timers.</p>
<p>Journalists and editors across Australia should be hanging their heads. But you can be sure none of them will. Nor will the many economists, analysts and commentators who have seized on the ABS figures to justify their attitudes on real estate issues (such as those with an anti negative gearing stance or those opposed to foreign investment in Australian real estate).</p>
<p>"Users are advised to exercise caution in using this data," the ABS said on Wednesday. That warning has come at least 12 months too late. Not that it will make any difference to some.</p>
<p>I would bet my house that next week there will be more articles in major newspapers repeating the fiction that first-home buyers are at an all-time low. And the week after. And six months from now. People won't let the facts get in the way of an entrenched attitude or an easy sound byte.</p>
<p>"ABS and APRA will continue to work with lenders to improve data quality," the ABS said this week. "In the meantime, from the December 2014 issue (to be released on 11 February 2015), estimates of loans to first home buyers will include an adjustment for under-reporting of loans where the buyer did not receive a first home owner grant.</p>
<p>"An Information Paper will be released on the ABS website on 4 February 2015 explaining changes to the method of estimating first home buyers' data and the extent of revisions.   The ABS will continue to update the method as lenders progressively improve their reporting."</p>
<p>Too little, too late. Australia is awash from misinformation on the real estate industry and the most extreme example has been the first-home buyer miscount and all the column inches of inaccurate comment and posturing it has generated.</p>
<p><em>Terry Ryder is the founder of <a href="https://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>.</em></p>
<p class="Body"><em>Terry will be participating in a webinar on '</em><em>The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid' on 3 February.</em></p>
<p class="Body"><em>Click here to <a href="/news">register now</a>.</em></p>
<p> </p>
<p> </p>
<p> </p>
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terryryder-YECXbqmri2

First home buyers are still here, but good research has gone missing: Terry Ryder

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<p>The asking price of the Muckleford, Victoria property with a green-and-yellow W-class tram as its centrepiece, has been reduced to $410,000.</p>
<p>The three-bedroom, one-bathroom home, <a href="https://www.domain.com.au/property/for-sale/house/vic/muckleford/?adid=2011451303" target="_blank">10 A Frame Track, Muckleford</a>, had been initially marketed at $439,000.</p>
<p>Set on 20 acres, 130 kilometres north-west of the CBD, the home has been fashioned around the tram including mud brick sections.</p>
<div id="conditionalAd-300x250-pos-3">
<div id="google_ads_iframe_/6411/WATODAY/domain/realestatenews_13__container__"> The tram has been renovated to include multi-functional bedroom-study-living areas as well as a kitchen and dining area. </div>
</div>
<p>The trams were produced between 1923 and 1956 by the Melbourne and Metropolitan Tramways Board. </p>
<p>Owner Gary Markoff paid about $1000 to buy the decommissioned vehicle and haul it to the country about 35 years ago.</p>
<p>Cantwell Property, Castlemaine, agent Genevieve Cantwell, is selling the home.</p>
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Tram fare price at Muckleford comes down to $410,000

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<p class="Normal"><span style="line-height: 1.3em;">It’s sadly typical of real estate investment that the most popular places for buyers are also the worst places to buy.</span></p>
<p class="Body"><span style="line-height: 1.3em;">Investors are piling en masse into a series of off the plan unit markets that will be the ruination of many people’s wealth dreams. The top five locations in terms of sales volumes are all places that property buyers must avoid.</span></p>
<p class="Body"><span style="line-height: 1.3em;">It’s a commentary on two issues, which are among the core problems for property investors. One is that most investors fail to conduct genuine research before making decisions that involve hundreds of thousands of dollars. The second is that far too many of them think that reading media reports constitutes research.</span></p>
<p class="Body"><span style="line-height: 1.3em;">When I spoke at two Performance Property Advisory seminars in Melbourne earlier this week, I told audiences that most of what they read or hear about real estate in mainstream media is misinformation. Most of what they read or hear is press release material (i.e. someone’s propaganda) regurgitated as credible information. There is no journalistic oversight on the material that is published, in most cases.</span></p>
<p class="Body"><span style="line-height: 1.3em;">Among the most dangerous material is “research” which presents lists of, for example, the 10 best places to buy for high rental yields, or the 10 top buyers’ markets in the land, or the locations with the biggest growth in median prices in the past quarter.</span><span style="line-height: 1.3em;"> </span></p>
<p class="Body"><span class="Body__Char">These lists are presented by incompetent journalists with the inference that these are the places investors should be buying. It amounts almost to criminal negligence. Those lists of the places with the highest yields or the ones described as the best buyers’ markets in the land comprise places where markets are in serious decline. Many of these markets are basket cases.</span></p>
<p class="Body"><span class="Body__Char">Earlier this week we saw a list of the most popular locations for buyers in Australia. These are the suburbs with the highest numbers of sales. The treatment given to this press release material from a publicity-hungry research business inferred that these were all great places to buy. If everyone’s piling into these places, then so should you. The inference is that the herd mentality is a viable method of making investment decisions.</span></p>
<p class="Body"><span class="Body__Char">Eight of the top 10 locations on the list were all locations that investors must avoid, if they are to escape a financial disaster. Those eight locations were apartments markets with heavy marketing of off-the-plan high-rise units in locations that already have, or will soon have, serious oversupplies.</span></p>
<p class="Body"><span class="Body__Char">The No.1 location in the list was the Melbourne CBD. Most of the 1,500 buyers who have purchased apartments there in the past 12 months will live to regret their decisions. Also on the Top 10 list were neighbouring unit market suburbs, Southbank and South Yarra. This is oversupply central for Australian real estate – a place where unit towers are being built not for local consumption but to be flogged at inflated prices to offshore investors. It won’t end well. </span></p>
<p class="Body"><span style="line-height: 1.3em;">Four of the top 10 places were occupied by unit markets on the Gold Coast, with Surfers Paradise No.2 on the national list. You have to wonder how many people have to lose money in this fools’ paradise before investors get the message to steer clear.</span></p>
<p class="Body"><span style="line-height: 1.3em;">The Gold Coast has just spent five years absorbing the previous surplus of high-rise units, with property values falling in virtually every suburb in Gold Coast City. The median price for Surfers Paradise is still lower today than it was five years ago, but in the past 12 months another 1,255 buyers dived headlong into this investors’ graveyard, even as developers are working hard on creating the next massive over-supply.</span></p>
<p class="Body"><span style="line-height: 1.3em;">The Brisbane CBD, which is working hard to outdo its Melbourne’s counterpart as oversupply central, is No.3 on the list.</span><span style="line-height: 1.3em;"> </span></p>
<p class="Body"><span class="Body__Char">The latest research shows that only 10% of sales in the Brisbane inner-city unit market are to owner-occupiers. Investors are buying 90% of the stock and the great majority of them are distant investors – people from interstate and overseas. Many will wish they had left their money in the bank.</span></p>
<p class="Body"><span class="Body__Char">Vacancies in Brisbane’s inner-city suburbs range from 4% or 6.5% - and that’s before all the new supply now under construction hits the rental market. BIS Shrapnel research shows that a record number of new apartments will be completed this year, but more will be finished next year and even more the year after. These numbers are a red flag for sensible buyers.</span></p>
<p class="Body"><span class="Body__Char">Brisbane, like Melbourne and the Gold Coast, is building far too many apartments because they’re not being created for local consumption – they’re being conceived for sale to unsuspecting foreign buyers.</span></p>
<p class="Body"><span class="Body__Char">The developers will be happy because they will sell all their apartments and make lots of money, but the broader market and the people who own properties there will suffer, as high vacancies cause rents to fall, with values to follow.</span></p>
<p class="Body"><span class="Body__Char">If you’re an investor driven by the herd mentality or the FOMO (Fear Of Missing Out) syndrome, then you will dive into these markets. And when you lose money, you will thoroughly deserve it.</span></p>
<p class="Body"><span class="Body__Char">Be afraid, be very afraid.</span></p>
<p class="Body"><span class="Body__Char"><em>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></em></span></p>
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Better in the bank than on Brisbane inner-city apartments: Terry Ryder

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<p>Investor activity has surged over recent years and now shows that in March 2015, investors committed to $12.9 billion in housing finance.</p>
<p>By comparison, investment mortgage commitments reached a recent low of $6.3 billion in April 2011.</p>
<p>The recent rise to $12.9 billion has seen the value of commitments rise 105% in less than 4 years.</p>
<p>While state data is seasonally adjusted, these markets tend to be a little more volatile. Nevertheless, it shows $13.5 billion worth of commitments in March 2015.</p>
<p>A state by state breakdown shows that nationally, NSW accounted for 46.0% of all investor mortgage commitments. The value of commitments in NSW was greater than the value of all states and territories combined except for WA. Of particular note is the fact that this data largely reflects what is happening in Sydney which experienced a significant rise in investment lending over the past 3 years.</p>
<p>Across all states the recent low in investment lending has been in either January or February of certain years and we’ve found that this time of year is a seasonally slower period for mortgage lending.</p>
<p>After APRA wrote to Australian banks, credit unions and building societies late last year re-affirming sound residential mortgage policies we have recently started to see many banks change their lending policies.</p>
<p>A large focus of these changes has been around investment mortgages and over the coming months we should eventually see investment lending start to slow.</p>
<p><a href="/images/2015/06/04/700_Statebreakout.jpg" target="_blank">Click to enlarge</a></p>
<p><span><img src="/images/2015/06/04/700_Statebreakout.jpg" alt=""></span></p>
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<p><a href="/images/2015/06/04/700_lending.jpg" target="_blank">Click to enlarge</a></p>
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<p><span><img src="/images/2015/06/04/700_lending.jpg" alt=""></span></p>
<p><span>NSW </span>– in March 2015, investors committed to $6.2 billion in mortgages, a year-on-year increase of 37.2%. Over the past 3 years the value of investment mortgage commitments has increased by 155%. If you remove refinances, investors accounted for 60.0% of all new lending in NSW in March 2015.</p>
<p><span>Vic </span>– investors committed to $3.1 billion in mortgages in March, a 17.1% year-on-year rise. Investors accounted for 48.6% of new lending in March and the value of commitments is 70% higher over the past 3 years.</p>
<p><span>Qld </span>– at $2.2 billion in March, investor lending has risen by 43.1% year-on-year and is 69% higher over the past 3 years. Investors accounted for 47.2% of new lending over the month.</p>
<p><span>SA </span>– investment lending has increased by 28.3% year-on-year to March 2015 to $508.8 million and has increased by 32% over the past 3 years. Investors accounted for 43.0% of new lending in March 2015.</p>
<p><span>WA </span>– investors accounted for 39.0% of new mortgage lending over the month with $1.1 billion in commitments. Investor mortgage commitments have increased by 4.5% year-on-year and by 31% over the past 3 years.</p>
<p><span>Tas </span>– investors currently account for 30.5% of new mortgage lending <span>$</span>with a total of $70.8 million. The value of investment commitments is 21.3% higher over the year and has increased by 41% over the past 3 years.</p>
<p><span>NT </span>– at $103.5 million in March 2015, investment lending is -1.1% lower over the year. Investment lending has increased by 14% over the past 3 years and investors currently account for 55.3% of all new mortgage lending.</p>
<p><span>ACT </span>– at $168.3 million in March 2015, investment lending is 2.9% higher over the year. Investment lending has increased by 8% over the past 3 years and investors currently make-up 41.8% of all new mortgage lending.</p>
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ckusher-ujnxiKuFQs

Investment lending set to slow: Cameron Kusher

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<p><span>A three-level townhouse in the former R. M. Crockett &amp; Son cricket bat factory at Seddon failed to sell at weekend Jas Stephens auction.</span></p>
<p><span style="line-height: 1.3em;">A $700,000 vendor bid came from auctioneer Branko Lemaic today.</span></p>
<p><span style="line-height: 1.3em;">A second vendor bid of $720,000 prompted the the two-bedroom conversion being passed in. </span></p>
<p><span style="line-height: 1.3em;"><a href="https://www.realestateview.com.au/Real-Estate/3-138-charles-street-seddon/Property-Details-buy-residential-8437510" target="_blank">The reserve price</a> has been signalled as $769,000 for <span>3/138 Charles Street.</span></span></p>
<p><span style="line-height: 1.3em;"><span>In the 1960s the firm of </span><span>R.M. Crockett</span><span> &amp; Son came under the control of the Slazenger.</span></span><span style="line-height: 1.3em;"> </span></p>
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<div id="link-photo"><a class="photobox cboxElement" href="https://www.realestateview.com.au/portal/viewphotos?OID=8437510&amp;popup=photos"><img src="https://images.realestateview.com.au/pics/510/3-138-Charles-Street-Seddon-VIC-3011-Real-Estate-photo-1-large-8437510.jpg" alt="3/138 Charles Street Seddon VIC 3011 Real Estate Photo 1" title="3/138 Charles Street Seddon VIC 3011 House - Photo 1"></a></div>
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<div><span style="line-height: 1.3em;">A Melbourne auction clearance rate of 79 per cent was recorded this weekend compared to 76 per cent last weekend and 69 per cent this weekend last year.</span></div>
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<p> </p>
<p><span>There were 1291 auctions reported to the REIV today.</span></p>
<p><span style="line-height: 1.3em;"><span> </span></span></p>
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Bumper day, but with no bat or ball players, RM Crockett cricket bat factory residential offering passed in

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<div>The Lending Finance data released yesterday for the month of June 2015.</div>
<div> </div>
<div>Total lending was once again superficially very strong at a seasonally adjusted $74.7 billion for the month.<br><br>While this was only a moderate increase for the month, on a rolling annual basis total lending has increased to a new high of $857 billion.</div>
<div> </div>
<div>Note that the "commercial loans" category includes property investment loans, so the recovery in credit growth is rather more housing-focused than first it may appear.</div>
<p><a href="https://3.bp.blogspot.com/-hLjERfYhiNk/VcgOlQzorcI/AAAAAAAAXg4/GdmpPCJx3a4/s1600/A4.jpg" target="_blank">Click to enlarge</a></p>
<p><br><a href="https://3.bp.blogspot.com/-hLjERfYhiNk/VcgOlQzorcI/AAAAAAAAXg4/GdmpPCJx3a4/s1600/A4.jpg"><img src="https://3.bp.blogspot.com/-hLjERfYhiNk/VcgOlQzorcI/AAAAAAAAXg4/GdmpPCJx3a4/s640/A4.jpg" width="640" height="280"></a></p>
<p> </p>
<p><strong><span style="text-decoration: underline;">nvestor loans - Sydney investor credit explodes</span></strong><br><br></p>
<div>Drilling into the commercial lending figures we can see that the property investment loans by state data is telling. </div>
<div> </div>
<div>Up until the month of June, while the investor loan crackdown by the regulator APRA may have had an impact in aggregate, investor lending in Sydney was still rising fast.</div>
<div> </div>
<div>In fact, New South Wales investor loans accelerated in June to a record $6.55 billion to record a rolling annual total of an astounding $64.9 billion.</div>
<p><a href="https://3.bp.blogspot.com/-Abb1wPadxP0/VcgOkqurF_I/AAAAAAAAXgs/o7VArJh790s/s1600/A3.jpg" target="_blank">Click to enlarge</a></p>
<p><a href="https://3.bp.blogspot.com/-Abb1wPadxP0/VcgOkqurF_I/AAAAAAAAXgs/o7VArJh790s/s1600/A3.jpg"><img src="https://3.bp.blogspot.com/-Abb1wPadxP0/VcgOkqurF_I/AAAAAAAAXgs/o7VArJh790s/s640/A3.jpg" width="640" height="278"></a></p>
<div>Thus while investor lending growth in aggregate had begun to slow by June, Sydney investors are now sitting on deep pools of equity following years of strong capital growth and this equity can often be used as 20 per cent deposits.<br><br>As a result as this stage investor loans may have been more impacted in other capital cities and regional centres where capital growth has been much weaker or in many cases non-existent.</div>
<div> </div>
<div>My information is that we should start to see investor loans slowing in the July and particularly August figures.</div>
<div> </div>
<div>However, as I looked at last week, the housing finance data also shows that owner-occupier commitments in New South Wales have now responded to low interest rates in booming to a record high $6.6 billion on a seasonally adjusted basis in June.</div>
<div> </div>
<div>Housing markets are the sum of their parts and therefore below I have charted the raw unadjusted "Original" data for New South Wales in a stacked columnar format.</div>
<div> </div>
<div>As you can see in the chart below, the month of June was by a significant margin the biggest month of lending on record for any state in Australia's history.<br><br>
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<div><a href="https://3.bp.blogspot.com/-pPjg2ax1nkM/VckXlsIKhOI/AAAAAAAAXiA/764PBQJU-qc/s1600/A9.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-pPjg2ax1nkM/VckXlsIKhOI/AAAAAAAAXiA/764PBQJU-qc/s1600/A9.jpg"><img src="https://3.bp.blogspot.com/-pPjg2ax1nkM/VckXlsIKhOI/AAAAAAAAXiA/764PBQJU-qc/s640/A9.jpg" width="640" height="276"></a></div>
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<div class="separator">
<span>A couple of observations here.</span><br><br><div>Firstly, note that the ABS Lending Finance data series records loans written domestically, suggesting that the boom in Sydney dwelling prices has been primarily driven by domestic investors (and now homebuyers).</div>
<div> </div>
<div>That said, foreign capital is playing its part to some extent too, as I've written here previously, particularly relating to new dwellings.</div>
<div>
<br>Recall that foreign buyers without Australian residency are generally granted permission to buy new residential property.</div>
<div> </div>
<div>Foreign buyers with no Australian residency typically cannot buy established residential property unless they have specific permission to do so from the Foreign Investment Review Board (FIRB).</div>
<div> </div>
<div>This permission may be granted in some instances, such as for development projects.</div>
<div> </div>
<div>Licensed real estate agents, buyers agents and solicitors have simple procedures in place to ensure that they only deal with legal purchasers of established property.</div>
<div>
<br>As the above chart clearly shows there is more than enough domestic business from Australian residents without needing to seek business from buyers without Australian residency. </div>
<br><strong><span style="text-decoration: underline;">Around the states</span></strong><br><br><div>As noted above New South Wales investor loans accelerated in June to a new high of $6.5 billion in June. </div>
<div> </div>
<div>On a 12mMA basis investor loans in New South Wales rose to a record high $5.4 billion.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-7KU4Mf3dxnY/VcgOkrmanCI/AAAAAAAAXgo/XHBtOBINfEE/s1600/A1.jpg" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></div>
<div><span style="line-height: 1.3em;"> </span></div>
<div>
<div class="separator"><a href="https://1.bp.blogspot.com/-7KU4Mf3dxnY/VcgOkrmanCI/AAAAAAAAXgo/XHBtOBINfEE/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-7KU4Mf3dxnY/VcgOkrmanCI/AAAAAAAAXgo/XHBtOBINfEE/s640/A1.jpg" width="640" height="276"></a></div>
<br><div>Low interest rates and expectations of future price growth have also impacted investor loans in Victoria. </div>
<div> </div>
<div>It's impossible to call the market peak accurately, but it's my belief that - unlike Sydney - Melbourne has been overbuilding in the unit and apartment market in particular, and this will result in stagnant rents and prices in due course for certain sectors of the market. </div>
<div> </div>
<div>There may be a material price correction in time too, especially for new and off-the-plan builds.</div>
<div> </div>
<div><a href="https://4.bp.blogspot.com/-CqPJELW4MwI/VcgVHrv8GeI/AAAAAAAAXhY/WgovxM2s70o/s1600/A6.jpg" target="_blank">Click to enlarge</a></div>
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<br><div>Queensland's resources regions and regional centres may be struggling as the mining investment boom turns to bust, but house prices are now rising in inner Brisbane.</div>
<div> </div>
<div>For my money, Brisbane may well be the best performing capital city housing market in 2016, although asset selection will be important here (there is much high-density building taking place).</div>
<div>The trendline below which records investor loans on a 12mMA basis shows that Queensland investor lending in aggregate is now tracking at their highest level since April 2008.</div>
<p><a href="https://3.bp.blogspot.com/-QTEbjM-b_nE/VcgOklLIqVI/AAAAAAAAXgk/5ASN33dV5wE/s1600/A2.jpg" target="_blank">Click to enlarge</a></p>
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<div class="separator">Western Australia's property markets are now demonstrably into their downturn phase, and consequently despite low interest rates investor loans volumes are trending down.</div>
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<div class="separator">Some property experts have painted themselves into a corner with regards to South Australia and will continue to recommend investing there come hell of high water.</div>
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<div class="separator">With very little building activity in the detached housing sector the Adelaide market has certainly been tightening nicely, yields are comparatively strong, and after 7 or 8 years of weak dwelling price growth there is plenty of value of money to be found, even close to the centre of Adelaide.  </div>
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<div class="separator">On a 12mMA basis investor loans in South Australia are now tracking at their highest ever level at $437 million.</div>
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<div class="separator">A word of warning, however,</div>
<div class="separator"> </div>
<div class="separator">Barely a week passes without further news of redundancies in South Australia, with the unemployment rate having trended up alarmingly from 5.2 per cent in October 2011 to 7.9 per cent today...and rising.</div>
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<div class="separator"><a href="https://4.bp.blogspot.com/-Le2eMkeS8hE/VcgPuFZEDMI/AAAAAAAAXhI/C47G2MUkGGY/s1600/A5.jpg">Click to enlarge</a></div>
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<div class="separator">In fact, if you have a low budget, my personal belief is that a combination of foreign capital, a n ongoing depreciation of the Aussie dollar, record Chinese tourism spend and a tightening market will see Hobart emerge as the surprise package capital city housing market over the short term.</div>
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<div class="separator"><span>The longer term economic and demographic fundamentals in Tasmania are admittedly uncertain.</span></div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Pace of NSW investor lending accelerates: Pete Wargent

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<p><span style="line-height: 1.3em;">Getting started on your property investment journey can be daunting. I'm reminded of this when I hear from people who haven't yet been able to take that step forward. </span></p>
<p>It's something that comes naturally to me now after sourcing many properties and development sites for our Property Bloom clients but I can still remember very clearly my first investment property purchase. Man, was I nervous!</p>
<p>Some people seem to be able to make a quick (yet still educated) decision and others 'think' about it for weeks, months and sometimes years. Being decisive is a great skill to have. </p>
<p>I had a call the other day from a lady who said she'd been following my articles on Property Observer for years but couldn't ever get to the point of making a decision on how to buy her first property, where to buy it and how much she should spend. </p>
<p>In this time, she watched the Sydney market rise and rise until it was virtually unviable to her as an investment option. Then she was kicking herself for not getting in earlier.</p>
<p>The one thing I wanted to communicate to her was to "take small steps".  Break down the process so that it doesn't seem so overwhelming. </p>
<p>Start with your finance. How much can you borrow and service and how much do you feel comfortable borrowing? Once you have a budget then you've taken the first step. </p>
<p>With that budget in mind, look for locations with a median price point around the same as your budget. Choose a few different suburbs in this location and then spend time in these suburbs. Drive around, hang out in the shopping centre, study the people who live there. Strike up conversations and ask about what they love about living there... and if  there are any streets they wouldn't live. What are the schools like and are there good community facilities like sporting fields, skate parks, playgrounds, places for families to enjoy. </p>
<p>Once you get a 'feel' for the area and the people living there, then start some more detailed due diligence on the local economy, job opportunities, infrastructure projects, council's long term plans for the area, population growth, recent past sales, rental returns and vacancy rates. Attend auctions and talk to real estate agents about what tenants are looking for.   </p>
<p>There that's the next step taken, and all of a sudden you've become very knowledgeable and narrowed down the suburb where you'll invest.  Follow the sales market in the streets you like and you'll soon know what a good deal looks like. </p>
<p>Remember to look for development potential in a property; can you add value to it either now or in the future?  Search for large block sizes, dual access points, houses you can add a bedroom or upgrade the kitchen or bathroom to increase the rent.  Property located in a medium density zone means you'll have more options later to develop it. Find property that is close to shops, on public transport routes and within a short drive to the central business district or to the closest city.  </p>
<p>Finally, get ready to move quickly. When you find a property that ticks all the boxes and with a finance preapproval under your belt, you can confidently make an offer.</p>
<p>Don't be disappointed if you miss out as all this adds to your experience and there will be other properties that come up soon. By going through this process you'll establish relationships with locals and agents and soon that first small step will lead to an investment property purchase. </p>
<p><em>Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></p>
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