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?

A four-bedroom home in Northwood with a two-storey boathouse is on the market with a $5 million plus price guide.

Located at 2 Kellys Esplanade, the three-level property features floor to ceiling windows, a swimming pool and landscaped gardens by Good Manors.

The two-storey boathouse features a slipway and a party room or artist studio above.

The property last traded in 2005 for $4.35 million.

Sandra Peach and Tavis Standen of <a href="https://www.raywhite.com/nsw/northwood/1011018/#.Ug26KeBAt6o" target="_blank">Ray White Lane Cove</a> have the listing.

The median house price in <a href="/news">Northwood</a> is $1.66 million, a 14.9% decline in the past five years, according to RP Data.

ntrotman-Et3xWpamVh

Northwood home with double-storey boathouse listed with $5 million plus hopes

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Leighton Properties will build its first new commercial building in six years at 177 Pacific Highway, North Sydney, which it says will become one of Sydney’s most significant projects.
The $400 million high rise will redefine the CBD skyline and feature 40,000 square metres of A-grade commercial space across 30 levels. Completion is scheduled in the first half of 2016.
Leighton Properties has agreed to terms with the vendor, Winten Property Group, over the project.
 
<img height="517" width="470" src="/images/stories/2013/08/north-sydney-aug-21-one.gif" alt="north-sydney-aug-21-one">
“The development fits with our core competency of CBD commercial development and our strategy to leverage the Leighton brand, certainty of delivery and credit rating, together with our space occupancy needs to attract investment partners to our projects,’’ Mark Gray, managing director of Leighton Properties, says.
‘’The project will be underwritten by Leighton, which will take a head lease over 76% of the office space. The remaining 10,000 square metres in the tower’s sky rise will be available to other corporate to meet demand in North Sydney, a market that is experiencing record low vacancy rates.
“We have developed a number of the prime North Sydney towers in the past and we feel the area is worthy of a new development of this kind, particularly given North Sydney has a vacancy rate of 2.8% in the A-grade commercial sector.’’
Architects Bates Smart have designed the building with state of the art design elements, large floor plates and sweeping harbour views. It will have substantial green credentials and is designed to target a 5 Star Green Star – Office Design v3 and a 5 Star NABERS Energy rating.
The Leighton Group already occupies 40,000 square metres of office space in Sydney, both corporate and project, across 11 buildings of differing quality, density, fitout and age, according to CEO Hamish Tyrwhitt.
‘’The potential for a high performance workplace that consolidates our corporate and operational office spaces with shared facilities and high amenity will drive a more efficient and collegiate working environment that embodies the company’s values of discipline, integrity, safety and success.
“We aim to be renowned for excellence, delivering through our operating brands and the empowerment of our people. This project will embody this vision creating a working environment that will inspire and connect our staff in the pursuit of excellence.”
Jones Lang LaSalle and CBRE are agents for the sale with a national and international expressions of interest campaign closing on September 19.
“Jones Lang LaSalle research indicates that there is a basket of only 48 assets nationally with investment characteristics similar to 177 Pacific Highway, North Sydney,’’ Paul Noonan, head of sales and investments (NSW) at Jones Lang LaSalle, says.
‘’A high proportion of these assets are jointly owned and assets in this cohort are tightly held, making this a truly rare opportunity. We expect this will result in strong competition from domestic and international investors."
Josh Cullen, national director capital markets at CBRE, says he expects ‘’significant interest for core product, such as 177 Pacific Highway, from both onshore and offshore groups.
‘’There is still very strong capital chasing limited core CBD opportunities within the Australian market.”
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staylor-63KgDrKwoY

Leighton's 177 Pacific Highway, North Sydney $400m office high-rise

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The gap between real estate agent price guides and actual auction results has jumped this year in Sydney, according to a survey by Intelligent Property Services.
There is now a 12% variation between auction price guides and actual results.
The 2013 survey analysed 39 auction sales so far this year ranging from Sydney’s eastern suburbs, to Burwood on the outer fringe of the inner west with a few sales on the lower north shore – all traditional auction hotspots in Sydney. The sales range from late February to the end of July.
In 2012 there was an 9% variation and in 2011 an 8% variation.
Head of research at Intelligent Property Services, Joe Kotevich, says the surges comes more as a result of buyer demand than any deliberate lowballing by agents.
“The average variation for 2013 is quite high and dramatically elevated compared to the results recorded for 2011 and 2012,” Kotevich says.
“The year to date is also consistently high (rather than having a few outliers that throw the average) and we believe this is a function of a large number of buyers, fuelled by positive market sentiment, low interest rates and decreased stock on the market, surpassing both vendor and agent expectations in heated auction environments.”
None of the sales recorded sold for below agent expectations.
The sale with the greatest gap between price guide and actual result was a very tired 1900-built three bedroom terrace in Newtown, at <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/newtown/properties/276925" target="_blank">182 Denison Street</a> (pictured below). The pre-auction guide suggested a price of $600,000, but it actually sold for $800,000 in May – a price difference of 25%.
{yoogallery src=[images/stories/2013/08/aug20new2]}
And <a href="https://www.firstnational.com.au/?pagecall=property&amp;propertyID=2396296">74 Sophia Street</a>, a dilapidated terrace in Surry Hills (pictured below), sold for $894,000 in July with a price guide of $700,000 – a 21.7% difference. There were reportedly 18 registered bidders at the auction of the 105 square metre block. It was bought by a builder in his 20s.
{yoogallery src=[images/stories/2013/08/aug20surry]}
And <a href="https://www.domain.com.au/Property/Sold/House/NSW/Enmore/?adid=2010476662" target="_blank">9 Marian Street</a>, a newly renovated terrace in Enmore (pictured below) sold for $1.004 million in June with a price guide of $800,000 – a 20.32% difference. Before the auction Sydney Morning Herald tipped it offering “good bang for your buck” with its low price guide.
{yoogallery src=[images/stories/2013/08/aug20en]}
Intelligent Property Services obtains the price guides after the first week of showing the property, allowing time adjustment of expectations. The auctions are monitored following inquiry from its buyers agent department.
The results are in line with the recent price discrepancies recorded in Melbourne from a Property Observer survey.
A Property Observer analysis of 68 auction sales since the end of the July school holidays found <a href="https://www.propertyobserver.com.au/victoria/melbourne-auction-homes-selling-10-over-advertised-price/2013080863977" target="_blank">more than 90% sold for above the advertised price guidance bracket</a> – with an average price variation of 11%.
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awalsh-7Ub9EypybQ

Sydney auctions selling 12% above price guides

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Albury is one of the five NSW regional housing markets still at the bottom of the property cycle, according to Herron Todd White’s latest monthly report.
The four other regional locations at the bottom of the cycle are – Central Coast, Tweed Coast, Wollongong and Coffs Harbour.
Wagga Wagga and Canberra/Queanbeyan are listed as the areas in a declining market.
Orange and Tamworth are both at the peak of their cycle for houses and units.
For units, Griffith is at the start of recovery as well as Newcastle.
The house and unit markets in Sydney were considered to be rising.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0">
<colgroup>
<col width="154">
<col>
<col>
<col>
<col width="234">
<col>
<col>
<col>
<col width="213">
<col>
<col>
<col>
</colgroup>
<tbody>
<tr height="25">
<td height="25" width="601" colspan="3">Stage of property cycles in regional NSW</td>
</tr>
<tr height="20">
<td height="20">Region</td>
<td>Houses</td>
<td>Units</td>
</tr>
<tr height="20">
<td height="20">Albury</td>
<td>Bottom of market</td>
<td>Bottom of market</td>
</tr>
<tr height="20">
<td height="20">Bathurst</td>
<td>Rising market</td>
<td>Rising market</td>
</tr>
<tr height="20">
<td height="20">Canberra/Queanbeyan</td>
<td>Declining market</td>
<td>Declining market</td>
</tr>
<tr height="20">
<td height="20">Central Coast</td>
<td>Bottom of market</td>
<td>Rising market</td>
</tr>
<tr height="20">
<td height="20">Dubbo</td>
<td>Rising market</td>
<td>Bottom of market</td>
</tr>
<tr height="20">
<td height="20">Griffith</td>
<td>Start of recovery</td>
<td>Start of recovery</td>
</tr>
<tr height="20">
<td height="20">Mudgee</td>
<td>Rising market</td>
<td>Rising market</td>
</tr>
<tr height="20">
<td height="20">Newcastle</td>
<td>Start of recovery</td>
<td>Start of recovery</td>
</tr>
<tr height="20">
<td height="20">Orange</td>
<td>Peak of market</td>
<td>Peak of market</td>
</tr>
<tr height="20">
<td height="20">Sydney</td>
<td>Rising market</td>
<td>Rising market</td>
</tr>
<tr height="20">
<td height="20">Tamworth</td>
<td>Peak of market</td>
<td>Peak of market</td>
</tr>
<tr height="20">
<td height="20">Tweed Coast</td>
<td>Bottom of market</td>
<td>Bottom of market</td>
</tr>
<tr height="20">
<td height="20">Wagga Wagga</td>
<td>Declining market</td>
<td>Declining market</td>
</tr>
<tr height="20">
<td height="20">Wollongong</td>
<td>Bottom of market - rising market</td>
<td>Bottom of market - rising market</td>
</tr>
<tr height="20">
<td height="20">Coffs Harbour</td>
<td>Bottom of market</td>
<td>Bottom of market</td>
</tr>
</tbody>
</table>
 
Source: Herron Todd White
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Investors advised Albury one of five regional NSW markets at bottom of property cycle: Herron Todd White

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East Perth had the greatest increase in notional income per person per household between 2006 and 2011, according to demographer and News Limited columnist Bernard Salt.
It's thereby been identified as one of Australia's top suburbs generating interest among key demographic drivers, including empty nesters, young professionals and DINKs (double income, no kids).
Salt says its a pointer to an increased ability among its residents to take out a mortgage – and an indication that a suburb is about to take off.
In fact Perth was home to the top three suburbs with increasing income, according to his piece published in The Australian.
“Western Australia's mining boom created an income-earning capacity and attracted an incoming or an evolving demographic that wanted an inner-city lifestyle on the edges of the CBD in places such as East Perth, Rivervale and Kings Park,” Salt writes.
Sydney’s Waterloo and Brisbane’s Murarrie had the next highest changes in earning power.
The top five suburbs are all located within 5 kilometres of the CBD and have a number of new apartments or inner-city townhouse redevelopments which are attracting a new demographic.
Salt found the average household size in the top four postcodes is between 1.7 and 2.2 people - below the Australian average of 2.6 people. In Murarrie it’s 2.7 people, which indicates there will be a further transition towards smaller households and apartments, according to Salt.
“Those postcodes that are taking off are located in the capital city of a state that has prospered (Perth) and where the property offering genuinely meets the aspirations of a rising demographic force,” Salt writes.
“In places such as Kings Park, for example, this probably includes fly-in, fly-out miners as well as the full range of advisers and technicians and financiers and incoming expats associated with mining.
“Then there is what I call the spillover effect: the gentrification of Brisbane's Cannon Hill spills into neighbouring Murarrie. Inner-city transformation without large-scale redevelopment projects (as in Waterloo for example) applies best to places where the housing stock is mixed and where there is an increasingly vibrant local urban environment.
“This includes places such as North and South Melbourne, Sydney's St Peters and Dulwich Hill and Brisbane's Albion.”
In Melbourne, the income per person increased most significantly in the central postcodes.
At the national level the average growth in income was 20%.
<a href="/news">East Perth</a> – 65%
<a href="/news">Rivervale</a> – 58%
<a href="/news">Kings Park</a> – 55%
<a href="/news">Waterloo</a> – 53%
<a href="/news">Murarrie</a> – 49%
<a href="/news">Officer</a> – 48%
<a href="/news">Athol Park</a> – 48%
<a href="/news">Cannon Hill</a> – 44%
<a href="/news">Collingwood</a> – 44%
<a href="/news">Dawes Point</a> – 44%%
<a href="/news">St Peters</a> – 41%
<a href="/news">North Melbourne</a> – 40%
<a href="/news">South Melbourne</a> – 40%
 
Do your own research
Don't wait for Bernard Salt to do the research, start looking at ABS Census date yourself using our <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/the-property-observer-guide-to-abs-census-data-research-for-smart-property-investors/2013081664267?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">guide to Census data for property investors</a>.
 
Image courtesy of  <a target="_blank" href="https://www.flickr.com/photos/aang14/">Andru1308/flickr</a>.
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Rising incomes pointing to 13 emerging suburbs for investment potential: Bernard Salt

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<img height="313" width="470" src="/images/stories/2013/08/bellevue-hill-aug-6-new-white-line.jpg" alt="bellevue-hill-aug-6-new-white-line" style="font-size: 0.8em;">
Addenbrooke, the stately Bellevue Hill trophy home, hasn't hung around for its formal spring trophy home marketing campaign.
It's attracted the attention of competitive interest.
Overnight print speculation has it that the property developer Bob Ell may have secured the offering which was listed through Sydney Sotheby's International Realty agent Michael Pallier.
Property Observer previously suggested it came with $33 million hopes by the downsizing vendors, Denis and Charlotte O'Neil.
<img height="127" width="470" src="/images/stories/2013/07/yieldsbanner.jpg" alt="yieldsbanner" style="font-size: 0.8em;">
And the eastern suburbs whisper - repeated in the Australian  newspaper - is that its sold at about $27 million, and then possibly a little more for a vacant adjacent grassed block of land.
<a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/addenbrooke-bellevue-hill-the-inland-spring-trophy-home-listing/2013080763856">It last traded in 1988</a>.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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jchancellor-FAypfDUnLy

Addenbrooke, Bellevue Hill sold before spring marketing

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The NSW building industry is set to enjoy better prospects from 2016 onwards after a period of moderation, Australian Construction Industry Forum forecasts show.
This growth will outpace the other states, making NSW one of the most optimistic in the country.
<img height="408" width="470" src="/images/stories/2013/08/acif-chart-aug-14-five.jpg" alt="acif-chart-aug-14-five">
Residential building is a key part of the uplift-in-demand forecast, with strong growth over the medium-to-long term, the ACIF predicts. Notable in this uptick is a change in the types of housing that the NSW market is choosing – a good increase in apartments and townhouses.
Building and construction in non-residential work, including commercial premises, community facilities and more, are also looking positive for the state.
“The ACIF Forecasts point to NSW returning to a good rate of work after a number of years of struggle,” says ACIF executive director Peter Barda.
‘’Only Queensland shares this strong rate of growth over the medium term, with other states softening.’’
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NSW building industry has better prospects from 2016: ACIF

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Buying in a so-called bulletproof suburb doesn’t guarantee that investors won’t be unscathed by property market fluctuations.
Despite the enthusiasm of property experts and analysts, Property Observer notes it's still possible to lose money in suburbs which on paper seem faultless.
Many buyers in Surry Hills, touted by the latest Australian Property Investor magazine as one of Australia's premier “bulletproof” suburbs, have lost money on their investments in the last few years.
According to Residex the suburb median has increased in value each calendar year for the past 10 years.
The median unit price is now $563,000, having grown an average of 5.2% each year for the past 10 years, according to Residex. The median rent is $615 a week and the gross rental yield is 5.6%.
But Property Observer has skimmed sales and found a selection of properties in Surry Hills where buyers made a loss on their supposedly bulletproof investment during the past decade.
In most cases it’s not that the properties were genuinely poor homes – as quite often the subsequent buyers made a healthy profit on the properties. But poor investment timing meant they perhaps chose the one period when the property went down in value.
Another common trait was people buying in new developments at an inflated price, especially if they bought in the Monument development on Oxford Street from Multiplex. There were multiple buyers reselling a year or two later at a significant loss. 
And it’s not just limited to the upper end of the market, with some properties at the lower end losing their buyers money.
Though units were more likely to lose money, several classic Surry Hills terraces made it on the list as well.
The Pelican Street development, The Monument (pictured below), is now a monument to lost dollars.  The 191-apartment building sold a number of units in the mid-2000s to late 2010s which have not resold well.
<img alt="monument-aug-13-two" height="313" width="470" src="/images/stories/2013/08/monument-aug-13-two.jpg">
Unit 403 was sold for the first time at a hefty $1.175 million in 2005. But in September 2011 it resold for $975,000 – a loss of $200,000 for its vendor.
Unit 413 initially sold for $866,000 in 2005 and then resold in March 2008 for $755,000 – a loss of $111,000. But it did bounce back, it then sold again in September 2012 for $930,000.
Waiting until 2012 did seem to mitigate the loss for a few investors but they still lost money.
Unit 1513 first sold for $1.345 million in 2007 and then at $1.295 million in 2012 –a comparatively small loss of $50,000.
And unit 1313 first sold for $875,000 in 2007 and then at $870,000 in 2012 – a loss of just $5,000.
And the Monument (pictured below) loss list goes on.
<img alt="monument-aug-13-flicker" height="264" width="470" src="/images/stories/2013/08/monument-aug-13-flicker.jpg">
Apartments in the St Margaret’s development on Bourke Street weren’t a guaranteed recipe of millions either.
Unit 39 in the 1930s former hospital building sold in 2007 for $1.25 million. In 2012 the same apartment sold for $1.21 million yielding a $40,000 loss.
Unit 309 in the same building first sold in 2005 for $615,000. Two years later in 2007 it sold for $577,000, a loss of $38,000. The next buyer did okay selling the property for $710,000 in 2012.
And unit 112 lost $20,000 from 2005 to 2009 after initially selling for $480,000.
The most dramatic in the complex was unit 1501, which first sold in 2006 for $3 million. It later traded at a profit for $4.01 million in 2011 - a profit of $1.01 million. But the bonanza didn't last long with it later selling for $3.825 million in May this year - a loss of $85,000.
 
<hr class="system-pagebreak">
Several other prestige apartments in Surry Hills also lost their owners money.
Unit 401/148 Goulburn Street first sold for $1.5 million in 2002. In 2012 it sold again for $1.2 million – a loss of $300,000.
And unit 6/56 Foster Street sold for $2.53 million in 2009 – making the vendor a $400,000 profit on their one year investment. The buyer didn’t have the same fortune, selling in 2012 for $2.5 million, losing $30,000 over three years.
Though less likely to haemorrhage money, some Surry Hills terraces did prove to be poor investment choices.
The traditionally sought after terraces make up about 30% of the dwellings in Surry Hills, according to the Australian Bureau of Statistics.
The corner terrace at 17 Kendall Street was one of the most recent cases in our list. The charming two bedroom home sold for $1.012 million in 2010. But in March this year it sold at auction for just $950,000 yielding a loss of $62,000 for the hapless vendor.
It has been listed for rent at $825 per week suggesting the new owner picked it up at a yield of 4.52%.
Another terrace sale with unfortunate timing is the 1890s-built <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-113643943?idir=1&amp;ret=realestate/agent/bresicwhitney+estate+agents+darlinghurst/bzmdar" target="_blank">115 Goodlet Street</a> (pictured below). In 2007 it sold for $809,000 but in 2009 in sold for just $740,000 – a loss of $69,000. One wonders if that vendor attended the recent May 25 auction where it sold for $901,000.
<img src="/images/stories/2013/08/surry_hills_one.jpg" width="470" height="353" alt="surry_hills_one">
And the lovely corner terrace at 418 Riley Street lost money during the financial crisis. It sold in 2007 for $1.027 million but then sold for just $1 million two years later. It went back on the rise though, in 2011 it sold for $1.35 million.
And it wasn’t just limited to prestige homes. At the lower end of the market unit 58/397 Bourke Street proved to be a poor investment. In 2008 it sold for $250,000 but then four years later it sold for $210,000 – a loss of $40,000.
Although these sales just show cases where investments went backwards there are countless examples of properties which stayed stagnant – effectively not moving in price for many years.
The costs of paying off a mortgage, the costs of selling, the cost of outgoings and the cost of lost opportunity means buyers can be left hurting from stale investments.
Though certain suburbs might seem bulletproof buyers still need to do their research or risk a fatal investment.
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Surry Hills property investors bleeding losses despite "bulletproof suburb" status

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It's been a wet winter so far, so I hope you've been able to make the most of our blue sky and sunshine glimpses.
I'm pleased to report that the weather hasn't dampened property sales during the winter months. In fact, despite plenty of anecdotal opinion to the contrary, this past June was the best June for our team since 2007 and selling conditions have been at a six-year high!
It's especially good news for anyone selling a house in the 2481 postcode. Our research attests that Byron Bay, Ewingsdale and Suffolk Park are leading the local real estate recovery.
In a nutshell:
<ul>
<li>
The Byron Bay property market experienced a 30% increase in the number of sales over the past 12 months
</li>
<li>
During 2012-13, Byron Bay First National sold more than 30 properties valued at more than $1m and many properties above $2 million
</li>
<li>
The property recovery is being driven from the bottom up (ie by properties valued between $300,000 and $750,000)
</li>
<li>
The number of settled sales in the 2481 postcode rose from 264 in 2011-12 to 341 in 2012-13
</li>
<li>
The number of settled sales in the 2481 postcode rose after five years of subdued activity
</li>
<li>
Our company sold one in every three properties listed in the 2481 postcode during 2012-13.
</li>
</ul>
The story has been a little different in Mullumbimby and, to a lesser extent, in Bangalow:
<ul>
<li>
Settled sales in the 2482 postcode (Mullumbimby) dropped from 93 in 2010-11 to 89 in 2011-12 and fell further to 77 in 2012-13
</li>
<li>
Settled sales in the 2479 postcode (Bangalow) dropped from 105 in 2012-2011 to 79 in 2011-2012, rising to 81 in 2012-13.
</li>
</ul>
We strongly believe that Bangalow and Mullumbimby will follow Byron's strong property market recovery, based on previous experience and a recent surge in internet inspections for properties in this region.
Our research also tells us that the average price has decreased steadily across all towns, making it an equally great time to buy!
The average price of a property sold in the 2481 postcode dropped from around $850,000 in 2007 to $720,000 in June, 2013.
Facts for buyers and sellers:
<ul>
<li>
For the first time in years, a reduction in real estate stock is putting upward pressure on prices
</li>
<li>
The number of days on market has been decreasing steadily during the past 3-4 months; a welcome surprise for this time of year
</li>
<li>Internet and open house inspection numbers continue to rise, along with the number of contracts issued for auctions by our company.</li>
</ul>
Chris Hanley is principle of <a target="_blank" href="https://www.byronbayfn.com.au/?pagecall=staffMember&amp;staffID=11005">First National Byron Bay</a>.
<ul></ul>
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Wet weather no dampener on Byron Bay sales activity

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Renowned vineyard South Burloo, home of the Trickey family’s Warrumbungle Wines, has been listed for sale.
Established in 1998 the organic 10 hectare vineyard, on a 200 hectare freehold in Coonabarabran NSW, is being auctioned by Ray White agent Chris Korff.
<a href="https://www.realestate.com.au/property-viticulture-nsw-coonabarabran-7568051" target="_blank">The lifestyle property</a>, which looks over the Warrumbungle mountain rage, grows chambourcin, merlot, petit verdot and shiraz varieties.
It comes with a brick homestead, a swimming pool, a courtyard gazebo and a tennis court.
There is a bore, a large dam and large tank water storage. Other improvements include a cottage, a two level barn, a vehicle storage shed and cattle yards.
The vineyard is at an altitude of 600 metres, ensuring cold conditions for the grapes which are reportedly hand-picked at night.
The vineyard is managed by Gareth Trickey, a former real estate investor in Hong Kong, and his brother Cameron.
Korff says the property has had interest from Sydney and Melbourne buyers as well inquiry from neighbours. 
The property is being marketed as having potential as a bed and breakfast  as well as a function venue.  
Korff says prices are quite hard to gauge on properties like and have a large amount of price variation this but he expects it to sell for more than $500,000. 
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