One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

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

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

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

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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British expatriates Paul Burton and Alison Fudge, retired marketing professionals who sold their company in Melbourne, have their Palmers Island, NSW property listed for sale.
It is in a rural area with a 6.2 acre plot on the banks of the Clarence River.
It was bought in 2005 and the couple spent a year building <a href="https://online.wsj.com/article/SB10001424127887324634304578538672731583046?mod=WSJ_Article_PhotosModule_1" target="_blank">the house</a> which was featured earlier this month as the Wall Street Journal Asian edition house of the day.
Riverscape comes with $2.5 million plus hopes through Unique Estates Australia.
"Riverscape would make a superb holiday retreat or family home and is a must for anyone looking for a luxurious waterside lifestyle property," its listing agent Nicolette van Wijngaarden said.
The five bedroom home as been marketed as just a short boat ride away from nearby islands, beaches, bars &amp; hotels and the seaside town of Yamba, recently voted as the number one town for Australian travellers. "Designed as the ultimate dream home, this magnificent architectural property provides the optimum in relaxed luxury," the marketing says.
"Master built, it boasts superior quality fittings, contemporary appliances and materials as well as historical details such as old bridge timber posts and 90 year old red mahogany floorboards. "The house has been designed to maximise the views over the river and surrounding ranges and the use of glass and timber assist in achieving an intimate connection with the elements. "Designed over two storeys, the top floor features a magnificent open plan living dining &amp; kitchen area opening onto expansive decks," it says.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Palmers Island trophy home featured as WSJ Asian edition house of the day

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Buyers looking for something a little different can now get their hands on their own replica medieval castle. 



The three-bedroom property at <a href="https://www.leumeahunited.com.au/buy-residential-real-estate/house-4-dowling-street-leumeah-nsw-11372100183" target="_blank">4 Dowling Street, Leumeah,</a> NSW is for sale for the first time in its 30-year history. It has $600,000 plus hopes.



Inside, the house contains three large bedrooms, two bathrooms, sunken spa bath, lounge with open brick fireplace, and separate dining room with French doors, but what makes this property so unique is what’s outside the doors. 



With 10 turrets, gargoyles, stained glass windows, medieval furnishings and even a moat, this property has become something of a local landmark. There's even a UK style post box out front.



It has been host to several themed weddings and busloads of tourists often stop at its gates to take pictures. 



The current owner Ron Farmer built the house 30 years ago when he and his wife Joan moved to Australia from England. 



“The wife decided to build it for something that reminded us of home,” Farmer told the Macarthur Chronicle. 



The Farmers are selling because they have decided it’s time to downsize.



“It seems a shame to leave it. But the upkeep nowadays is too much for us to look after by ourselves,” Farmer says. 



He says they are looking for a buyer with a sense of history who can enjoy the property. 



“We’ve has it for 30 years and its time somebody else got to enjoy it,” he says. 



The property will be auctioned off and listing agent Anne-Marie Johns, Leumeah United First National, says it is difficult to predict what it will sell for “because it has never been on the market.” 



Other three-bedroom properties in Leumeah have sold for between $305,000 and $362,500 and the suburb's median house price is $330,000.
According to RP Data, the highest sale price in Leumeah was $580,000 for a five-bedroom house, in March this year. The previous record was $550,000 for a four-bedroom house in 2004.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Leumeah 'medieval' castle listed for auction

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A 10-hectare private family retreat known as Lomandra is up for grabs with an asking price of $3.1 million.
Located on Hearnes Lake Road in Woolgoolga, the coastal estate is only minutes from Coffs Harbour and metres from a three kilometre deserted beach.
The property is bordered by natural vegetation and features a freshwater lake and wetlands area.
It features a three-bedroom, two-bathroom residence and a separate 120-square-metre studio.
The estate has the potential to be subdivided into 61 lots. 
The two directly neighbouring properties have received development approval or are in the process of receiving approval for a total of over 130 lots.
The building designer Peter Davey moved to the property with his wife Diana and three children in 1997.
“Those that are this large and close to the ocean are often isolated from services, whilst those that are close to services and sub-dividable are rarely found in such a beautiful location.
“It’s an investment opportunity not to be passed up. Buyers tend to find that most properties in this category don’t tick all the boxes,” says Davey.
The property was purchased in 1997 for $300,000.
The property is listed with Peter Stone of <a href="https://www.reod.com.au/properties.php?id=7645613" target="_blank">Real Estate of Distinction.</a>
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Lomandra in Woolgoolga up for grabs for $3.1 million

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The NSW Treasurer Mike Baird says its generous handouts for first-time buyers buying new homes has succeeded, triggering the NSW Government to extend the grant aimed at boosting the state’s home building industry.
"I'm pleased to announce the extension of this successful program," Mike Baird said in his 2013 budget speech.
The $15,000 grant for new homes buyers will be extended until January 2016.
The first home owner new home grant was scheduled to be reduced to $10,000 in six months time on 1 January, 2014 when the scheme was unveiled.
The 2013 budget papers included a graph that showed the share of first home buyers securing new homes had recently hit about 48% of all NSW first home buyers. It is now running at just over 40%.
<img src="/images/stories/2013/06/nswbudgetjune18one.jpg" width="470" height="296" alt="nswbudgetjune18one">
Source: Office of State Revenue and ABS Catalogue 5609.0 Housing Finance, Australia
The previous highest levels were the 30% plus peaks in 2009 and 2002 following the global financial crisis and gst introduction bonus provisions.
Despite the shift in the take-up of new houses and apartments, the overall volume of first home buyer activity remains at low levels.
First-home buyers of existing properties had previously constituted between 80% and 90% of the market segment before the government sought to redirect buyer interest to new homes in the 2012 budget.
"The turnaround in this important sector of the economy is proof that the NSW Government's policies are working," Mr Baird said.
"This budget continues to tackle the housing shortage across NSW to get more people into new and more affordable homes sooner," he said.
"The government has provided a significant boost to the housing construction industry and over the first four months of 2013 the number of grants for new homes was more than 60% higher than a year earlier," the budget papers said.
"To maintain the momentum of this initiative the government has decided that the benefits of up to $35,240 for first home buyers will be extended for a further two years," it said.
The emerging shift in buying habits will assuage some of the criticism that the government had pulled the rug from under the established market with little take-up of the new home incentives. The NSW government was the first of most state and territory governments to <a href="/news">shift the grant emphasis towards new homes</a>.
A first-home buyer who purchases up to a $550,000 new home will get $35,240 in assistance also paying no stamp duty.
The 2012 budget more than doubled the first home owner grant for new homes.
The $650,000 upper threshold for new home concession remains.
The government noted the $35,240 was almost $20,000 more than under the former Labor government.
"NSW now has the highest number of new homes approvals over a 12 month period since October 2005," the papers said.
"After an extended period during which residential building approvals were significantly below their long-run average levels, levels are now more than 15% above the decade average, with multi-unit approvals driving most of the improvement.
"The government's building the state package is contributing to this growth as current private sector building approvals in April 2013 is 83% above the low of 21,800 in February 2009," the papers said.
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NSW home buyer grants tempting 40% plus of first timers in emerging shift away from established homes

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A 1960s brick house at Lurnea was Sydney's cheapest house sale at $360,000 over the weekend.
The vendors had wanted $379,950 when it was briefly listed in early 2012.
It had previously sold at $320,000 in 2010 and at $240,000 in 2008, according to RP Data.
Its most recent price appreciation was at an annual 3.95% compared to the prior two year sales period when there was 15% annual growth.
There was  a $125,000 sale in 1997, which reflects close to 7% over the 16-year period.
The three-bedroom house in the Liverpool municipality sits on a 657-square-metre Wheeler Avenue block.
<a href="https://www.realestateview.com.au/Real-Estate/13-wheeler-avenue-lurnea/Property-Details-buy-residential-5507745" target="_blank">It was sold by Century 21 Combined Lioverpool agent Sonia Poulos</a>.
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Wheeler Avenue, Lurnea brick house sale suggests slowing price growth

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While still heavily favouring landlords, the Sydney vacancy rate eased by 0.4 percentage points in May to 2.1%, according to the latest Real Estate Institute of New South Wales (REINSW) figures.
The increase in the vacancy rate follows three successive months of declining vacancy rates from 1.9% in February to 1.7% in April.
The increase was driven by 0.6 percentage point rise in the vacancy rate in the outer Sydney suburbs (more than 25 kilometres from CBD) from 1.7% to 2.3%.
The inner suburbs (within 10 kilometres from CBD) vacancy rate eased by 0.3 percentage points to 1.9% while the middle suburbs (between 10 to 25 kilometres from CBD) remained unchanged at 1.9%.
A vacancy rate below 3% is said to favour landlords over tenants. “After three months in a row of residential vacancy declines we are back to levels seen in January. Despite the increase vacancy rates are still dire.” REINSW president Christian Payne Beyond Sydney vacancy rates lifted by varying degrees in most regional areas.
In the Illawarra, the vacancy rate lifted 0.1 percentage points to 1.9 per cent, led by a rise of 0.3 percentage points in Wollongong at 2.2%. The Hunter region’s vacancy rate lifted 0.3 percentage points to 2.9 per cent, with an increase of 0.2 percentage points in Newcastle to 2.1%. The Central Coast rebounded 0.7 percentage points to 2.6% and Northern Rivers and New England both jumped 0.3 percentage points to 2.4% and 3.1%, respectively. Despite a rise of 0.2 percentage points, Orana, which includes the major centres of Dubbo, Cobar and Mudgee, continued to be the hardest place to find rental accommodation with a vacancy rate of 1.6%. Coffs Harbour was again the easiest place to find rental accommodation despite the second month in a row of decline at 4.0 per cent, down 0.1 percentage points  Bucking the trend was Albury with a fall of 0.4 percentage points to 1.8% and the Riverina which fell 0.1 percentage points to 3.3%. 
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Outer suburbs lead 0.4 percentage point rise in Sydney vacancy rate to 2.1% in May: REINSW

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A four-bedroom cottage located on 1,014 square metres of Castlecrag land that was favoured by Marion Mahony Griffin has been listed for sale for $1.7 million-plus.
The model suburb Castlecrag, located on the lower north shore of Sydney, was developed during the 1920s by Chicago-born Walter Burley Griffin and his wife Marion Mahony Griffin.
Griffin chose the allotment on The Bartizan as her preferred location, however sold it to the Hopkinson family in 1943 following their departure.
The cottage was built in 1947 by architect Bim Hilder - an associate of Walter Burley Griffin- and incorporates Griffin influences.
The home features vaulted ceilings, bay windows, views over the harbour and a Bim Hilder sculpture over the fireplace.
The property last sold in 1996 for $550,000 and renovations were undertaken in 2006, including a terrace deck and a ceasarstone kitchen.
The property was heritage listed in 2003.
The home is listed through <a href="https://castlecrag.ljhooker.com.au/CSNF5K" target="_blank">Heidi King of LJ Hooker</a>.
Property Observer recently reported on two <a href="https://www.propertyobserver.com.au/new-south-wales/alex-popov-designed-castlecrag-trophy-home-set-for-auction-trophyhomes/2013060361889" target="_blank">Alex Popov-designed listings</a> in Castlecrag.
The median house price in <a href="/news">Castlecrag</a> is $1,737,500 according to RP Data.
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Castlecrag cottage with Walter Burley Griffin influences seeks $1.7 million-plus

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A Glenn Murcutt-designed home in Kangaroo Valley – The Walsh House – has been listed for sale with a price tag of $1,975,000. 
The two-bedroom, two-bathroom property was constructed over four years for Rosemary and Robert Walsh, an immigration lawyer.
The property sits on 2.02 hectares, 100 metres above sea level. The Walshes bought the two-hectare block in 1999 for $230,000.
The properties southern and western facades are crafted using rustic materials due to facing the winds of winter and feature few windows.
The northern and eastern facades feature more refined materials and open up to views of Kangaroo Valley.
Each room in the house is protected by adjustable louvres to control the daylight in each room.
Murcutt is known for paying attention to the environment and creating economical and multi-functional buildings.
Kangaroo Valley is located in the Illawara region of New South Wales.
The property is listed through John Renouf and Drew Lindsay of <a target="_blank" href="https://www.drewlindsay.com.au/property/the-walsh-house-kangaroo-valley-new/">Drew Lindsay Real Estate Bowral</a>.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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Glenn Murcutt-designed trophy home in Kangaroo Valley listed

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Hi Margaret,   
We own a three-bedroom house in Sydney's North Shore and are considering the option of selling and buying a bigger house (we have three children). We bought the house five years ago (brand new) but given what we've spent on landscaping, don't think we'll make much from the sale. Given the current interest rate situation, would you advise holding off selling and buying in the same market (and for how long?) or selling/buying sooner rather than later? 
Thank you very much, 
Kris
Hi Kris,  
From your question, I gather that you are thinking of upgrading your family home to a larger one, and keeping the one you are moving out of until such times as the market is better and more advantageous to sellers.  In theory, this should mean that you buy now while the market is lower, and sell in a higher market.  
There are a few issues with this strategy though:  
<ol>
<li>
Depending upon the current mortgage on the house you live in now, the yields are likely to be very low and not enough to cover your holding costs.  Higher priced homes tend to have relatively lower yields and this makes the gap between what comes in and what goes out much greater than it would be if you owned an investment property in a higher yielding area.  These holding costs soon add up, and if the sale takes longer than you’d hoped, might eat into any increased value you will get from waiting.
</li>
<li>
If your equity lies in the current home, and you need to finance the new home to 100% of its value, your largest debt will most likely be the non tax deductible one on this new home, while your lower debt (on the old house)will be tax deductible.  This is an upside down financial situation to be in
</li>
<li>
As you can only have one Principle Place of Residence (PPOR) exemption, one of the two properties you own will begin to accrue Capital Gains tax (CGT).  If you choose for that to be the one you move out of, then any additional gain you may make by holding off will be further reduced by CGT.  The 6 year rule only applies if you don’t have another PPOR
</li>
<li>
While the North Shore might be considered ‘blue chip’ it does not follow that this is the best investment you can make.  It’s an area which has already had its boom and now, at top prices, movement upward will be significantly smaller. Other areas which are yet to be ‘discovered’ have their greatest period of growth ahead of them, while top end property, once it reaches the top end, tends to have much smaller incremental growth ahead of it. As an ‘investment’ your current home may not be the best you can do.
</li>
</ol>
It might be more advantageous for you to sell now and while you are in the CGT free period, use any un-encumbered proceeds to buy the new home, and then use the equity you have in your new home to immediately leverage back into a 100% loan for a property situated in a true, up and coming hotspot!
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: Should we hold off selling and buying again in Sydney's North Shore?

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Greater western Sydney has - not surprisingly - emerged as a hotspot for population and building growth, according to the latest Housing Industry Association (HIA) report.
Three out of the top five statistical areas on the NSW building and population hotspot list were located in greater western Sydney. Parklea-Kellyville Ridge and Homebush Bay-Silverwater were the top two areas in New South Wales in terms of population growth, with Parklea-Kellyville growing by 10.2% and Homebush Bay-Silverwater by 9%.
Both suburbs were also amongst the national top 20 building and population hotspots, in positions thirteen and eighteen respectively.
Kellyville was fifth on the NSW list, citing population growth of 3.1%.
Property Observer <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164">reported</a> in January this year that western Sydney has been attracting investor attention, largely due to affordable housing especially in comparison to inner Sydney, new residential developments, as well as businesses moving into the area.
Douglas Driscoll, CEO of Starr Partners, expects the western Sydney market to get stronger with new suburbs and shopping districts appearing, businesses establishing and settling in the area, transport connections improving and large master-planned residential developments are appearing. “No other area in Sydney is seeing that amount of change so quickly,” he said in January.
Western Sydney also registered the highest sales activity in New South Wales in 2012, as <a href="https://www.propertyobserver.com.au/new-south-wales/sydney-house-prices-up-61-over-2012-but-little-growth-in-the-western-suburbs-reinsw/2013030759770">reported</a> by Property Observer in March this year.
Simon Pressley also <a href="https://www.propertyobserver.com.au/new-south-wales/greater-western-sydney-is-spruiked-as-a-gold-mine-but-investors-should-be-wary-simon-pressley/2013041660434">highlighted</a> western Sydney’s investor potential in Property Observer in April this year. He mentioned western Sydney’s dense population and diverse demographic may influence property values.
The Parklea-Kellyville Ridge statistical area saw the largest and fastest growth in the state, with an increase of 2300 residents according to the Australian Bureau of Statistics (ABS). The value of residential building work approved was $182.1 million.
Parklea-Kellyville Ridge is located approximately 40 kilometres north-west of the Sydney CBD. According to the latest census report, the median age of people in the area was 31 years, with children aged 0-14 years making up 27.7% of the population. This indicates that young families populate the area.
Some 57% of residents in the Parklea-Kellyville Ridge area were born in Australia. 9.1% of the population have an Indian background, while 6.1% of the population have a Filipino background. In addition to English, languages spoken at home included Hindi, Punjabi, Tagalog, Filipino, and Arabic, indicating Parklea-Kellyville Ridge is a culturally diverse area.
 
<hr class="system-pagebreak">
According to the <a href="/news">latest RP Data report</a>, the median house price in Parklea currently stands at $549,500, up 0.5% on last year. The average discount required to sell a house is 5.1%, while private treaty sales average 57 days on market. The median asking rent for houses is $550, while average rental yield stands at 5.2%.
The median unit price in Parklea currently stands at $390,000. The median asking rent for units is $470, and average rental yield currently stands at 6.2%.
The median house price in Kellyville Ridge currently stands at $610,000, up 3% on last year, according to the <a href="/news">latest RP Data report</a>. The average discount required to sell a house is 5.2%, while private treaty sales average 85 days on market. The median asking rent for a house is currently $600, with an average rental yield of 5.1%.
The median unit price in Kellyville Ridge is currently $422,500, up 6.8% on last year. The median asking rent for a unit is currently $420, with an average rental yield of 5.2%.
The Homebush Bay-Silverwater statistical area saw an additional 1100 residents in 2011-2012, according to the ABS. The value of residential building work approved in the area was $276.4 million.
Homebush Bay-Silverwater is located approximately 16 kilometres west of the Sydney CBD. According to the latest census report, the median age of people in the area was 33 years, with children aged 0-14 years making up 17.2% of the population.
Homebush Bay-Silverwater is home to people of various backgrounds, with 47% of Australian-born residents making up the population. 8.5% of the population have a South Korean background, and 6.1% of the population have a Chinese background, indicating that Homebush Bay-Silverwater is a culturally diverse area as well.
According to the latest RP Data report, the median house price in Silverwater currently stands at $540,000, up 3.8% on last year. The average discount required to sell a house is 5.8%, while private treaty sales average 52 days on market. The median asking rent for houses is $420 a week, while average rental yield stands at 4.0%.
The median unit price is Silverwater currently stands at $410,000, down 8.9% on last year. The average discount required to sell a unit is 9.0%, while units average 112 days on market. The median asking rent for unit is $490 a week, while average rental yield stands at 6.2%.
The Kellyville area saw population growth of 3.1%, and the value of residential building work approved in the area was $208.1 million.
Kellyville is located approximately 36 kilometres north-west of the Sydney CBD. According to the latest census report, the median age of people in the area was 34 years, with children aged 0-14 making up 25.4% of the population, indicating the area is home to a number of young families.
While majority (63.6%) of Kellyville residents are born in Australia, it is also home to a number of residents who were born in England (3.7%), India (3.0%), South Africa (2.3%), Philippines (2.3%), and Sri Lanka (1.8%). 35.4% of households in Kellyville also report speaking two or more languages at home, according to data from the ABS.
According to the <a href="/news">latest RP Data report</a>, the median house price in Kellyville currently stands at $680,500, up 4.7% on last year. The average discount required to sell a house is 6.0%, and private treaty sales average 78 days on market. The median asking rent for houses is $620 a week, while the average rental yield is 4.7%.
The median unit price in Kellyville currently stands at $547,500, up 2.3% on last year. The average discount required to sell a unit is 2.6%, while private treaty sales average 70 days on market. The median asking rent for unit is $550 a week, while the average rental yield is 5.2%.
 
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