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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A circa 1910 home in Bolwarra known as The Oak has been taken off the market after failing to sell.
It was listed with a price guide of $1.55 million plus. 
The property at 21 Kensington Road last sold in November 2005 for $1.25 million.
The Bolwarra heritage home was designed by architect John Wilshire Pender but has since been restored, renovated and extended.
Pender specialised in architecture in Maitland and set up his practice in 1863.
During his career, Pender built a number of significant public buildings, cottages and homesteads including St Luke’s Anglican Church and the Presbyterian manse in Tamworth.
Pender is responsible for designing Benhome, a classical revival home on Regent Street, now a popular tourist attraction due to its architectural design. 
Pender also designed the Morpeth School of Arts and the Maitland Cultural Centre.
Three generations of the Pender family have worked as architects, spanning 125 years – the longest surviving architectural firm in the English speaking language.
The four-bedroom, two-bathroom property sits on 2,791 square metres and boasts ornate ceilings and a dome ceiling feature in one of the bedrooms.
The bedrooms each feature French doors, which open onto private verandahs and terraces.
The music room features twin columns and high ceilings.
Marketing began on the property in October 2012 when it was first listed for $1.72 million.
It then dropped its price by $170,000, but still failed to attract a buyer.
Rhonda Nyquist of <a target="_blank" href="https://www.prdhuntervalley.com.au/21-Kensington-Rd-MAITLAND?_id=r14378">PRDnationwide</a> Hunter listed the property.
The median house price in <a target="_blank" href="/news">Bolwarra</a> is $423,500, according to RP Data.
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The Oak in Maitland fails to sell

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The hotelier Peter De Angelis has sold his Balmain East harbourfront for a record near $9 million.
It was sold through Matthew Hayson of Cobden &amp; Hayson.
It cost $4.8 million in 2003 with its renovation undertaken in 2008.
<a target="_blank" href="https://www.ch.com.au/selling/NSW/Inner-West/Balmain-East/House/1P4998">The Simmons Street maritime villa is a 12 metre wide home on a 686 square metre block of land</a>.
It dates back to 1883. Its refurbishment made much use of materials including Himalayan stone, Red Iron Bark timber and concrete to create its contemporary setting.
It comes with a red iron bark finished boatshed with mechanical slipway for a 30 foot boat, tiered gardens and a mosaic-tiled pool and spa.
The suburb's previous highest sale was $5.675 million of an 1847 sandstone Darling Street villa on a non-waterfront 986 square metres. <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-balmain-east-nsw-2041/155070">Darling Villa had a contemporary design incorporating the original sandstone residence </a>undertaken by the Morris family. It had been bought for $2.56 million and the underwent a $1.66 million restoration by Arc Architects.
The street's previous highest sale was $5.5 million in April 2012 when Kenilworth was sold through Danny Cobden of Cobden &amp; Hayson.
The heritage-listed freestanding Victorian Italianate sat on an unusually large 817 square metre block with point blank Harbour Bridge views from its Simmons Street vantage point.
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Balmain East trophy home sale

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The metropolitan Sydney vacancy rate tightened by 0.1 percentage points to 1.7% in April, according to new figures compiled by the Real Estate Institute of New South Wales (REINSW).
It was the third consecutive month that vacancy rates have tightened.
The last time the Sydney vacancy rate was at 1.7% was in April last year.
Over the past 13 months, the vacancy rate peaked at 2.2% in January this year.
The tightening of vacancy rates occurred uniformly across inner, middle and outer Sydney suburbs.
Inner suburban vacancy rates (within 10km of the CBD) fell 0.1 percentage points to 1.6%, middle suburban vacancy rates (10-25km from CBD) fell 0.1 percentage points to 1.9% and outer suburban vacancy rates  (more than 25km from CBD) fell 0.1 percentage points to 1.7%.
The REINSW vacancy rate statistics are compiled by market research firm Insightrix, based on a survey of REINSW members and covering 140,555 residential properties. “Sydney residential vacancies hit levels last seen 12 months ago in April and May 2012,” said REINSW president Christian Payne. “It is time for the NSW government to recognise the supply issues caused by a lack of incentives to invest in the property market."
The REINSW is calling for the NSW government to cut transfer stamp duty rates in the state budget on June 18, in a move it believes will increase state revenue by encouraging more investors into the market.
According to Payne, a cut in NSW transfer stamp duty rates of as little as 0.5% would incentivise the property market and potentially boost state revenue by up to hundreds of millions of dollars.
There were contractions in other key NSW regional markets. The Illawarra contracted 0.4 percentage points to 1.8% led by a decline of 0.4 percentage points in Wollongong at 1.9%.
Vacancy rates on the Central Coast fell 0.5 percentage points to 1.9% and the Northern Rivers region vacancy rate dropped 0.6 percentage points to 2.1%. Orana, which includes the major centres of Dubbo, Cobar and Mudgee, was the most difficult place to find rental accommodation for a fourth month in a row with its vacancy rate falling 0.2 percentage points to 1.4%.
Coffs Harbour is the easiest place to find rental accommodation despite a decline of 0.2 percentage points to 4.1%. There was 0.2% percentage point increase in the Hunter region to 2.6 per cent, despite a fall of 0.2 percentage point fall in Newcastle to 1.9%. The Mid North Coast’s vacancy rate jumped 0.7 percentage points to 3% and Albury rose 0.5 percentage points to 2.2%.
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Sydney vacancy rate tightens to 1.7% in April: REINSW

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A vast waterfront mansion at Drummoyne, which went to weekend auction away from the media gaze, was passed in at $9 million.
Expected to set a suburb record price of more than $8 million, the property has since slipped off the website.
<img height="310" width="470" src="/images/stories/2013/05/wrightspointmay17one.jpg" alt="wrightspointmay17one">
With its prominent north-facing position on Wrights Point, the three-level residence wasn't hard to miss.
It was built by the Arnaout family on a block which traded for $6 million in 2007.
No doubting its palatial proportions - and built appararently with no expense spared - it comes with five spacious bedrooms including a private main bedroom wing.
There were also formal and casual living and dining areas.
The state-of-the-art kitchen was marketed as a chef’s delight with an expansive island bench, breakfast bar seating and high end Miele appliances.
There was also a gym with sauna plus pool, and four-car garaging, wine cellar and guest apartment, even a rooftop terrace with a lift.
It was marketed through Adrian Sereni and Warwick Williams of Warwick Williams Real Estate.
"This property is no longer available," says the Warwick Williams website. It is understood the agency is still trying to secure a sale with the interested parties who turned up to the auction.
The property has a level lawns that lead to the Drummoyne Steps and then to direct harbour access.
The Arnaout family are best known for the Iris Group hotel ventures including the Hunters Hill Hotel some two decades ago which were then built a portfolio of pubs valued at $350 million.
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Wrights Point, Drummoyne passed in at $9 million, but now no longer marketed

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A 1917 bungalow-style home in the iconic suburb of Haberfield has been sold for in excess of $2.2 million.
Known as Gilgunyah, the property located on Boomerang Street features four bedrooms and two bathrooms, with the heritage-style main bathroom featuring a clawfoot bath.
Sitting on a 1,100-square-metre allotment, the property boasts landscaped gardens with a pool and a dining terrace with a pizza oven.
The home last sold in 1996 for $530,000.
Robert Clarke and Christian Ziade of <a target="_blank" href="https://www.belleproperty.com/9P2782">Belle Property Annandale</a> secured the sale, but have withheld the price.
Haberfield – also known as the Federation suburb – was acquired by Richard Stanton, the co-founder of the Town Planning Institute and the Real Estate Institute, in 1901.
John Spencer-Stansfield individually designed properties in the model suburb, which was completed in the 1930s.
Stanton’s suburb included house types from the earlier Queen Ann style, arts and crafts style and early inter-war bungalow styles.
Boomerang Street was one of the earliest streets in the suburb and was named in 1855.
The majority of houses in Haberfield are protected under a heritage order.
A circa 1919 four-bedroom, two-bathroom home on Walker Avenue is listed for $2.25 million plus.
The home has been extensively renovated but still retains period features such as high ornate ceilings, period fireplaces and leadlight windows.
The home is <a href="https://haberfield.ljhooker.com.au/4TPGHE" target="_blank">listed</a> with Peter Sotiropoulos of LJ Hooker Haberfield.
A three-bedroom, one-bathroom home on approximately 1,100 square metres is also <a href="https://haberfield.ljhooker.com.au/4YFGHE" target="_blank">listed</a> through Sotiropoulos and is listed for $2.6 million.
The freestanding residence on Hawthorne Parade offers room for improvement and comes with a tennis court and an oasis-like swimming pool.
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1917 Gilgunyah bungalow in Haberfield secures $2.2 million-plus

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In this week’s Purchase or Pass, Chris Gray is joined by Arthur Charlaftis from realestate.com.au to check out a potential property that has some issues with the strata that could either add or detract from the property's investment potential.
It’s a two-bedroom unit in a small block of nine, 13.2kms from the Sydney city and literally a couple of hundred metres from the local amenities. It has a large lounge and dining area that opens to a big balcony with water glimpses. It has an oversized study, which could potentially be converted into a third bedroom, which would increase the rent return. There’s been some water penetration to the rear balconies and an issue with a retaining wall. Strata levies are increasing by $500 per quarter for the next two years, and there’s a special levy due of $60,000 split over the nine units with some costs yet to be determined.
 {qtube vid:=Ew4ZX2A0Quk&amp;feature=youtu.be}
Chris Gray: To start with, roughly does it tick all the boxes?
Arthur Charlaftis: It does, I think the location is good. As you indicated it’s a small block of nine, which I think is great. It looks pretty light filled in terms of accommodation, and I think the other thing is the office can be converted to a bedroom.
Chris Gray: That’s always a massive bonus isn’t it?
Arthur Charlaftis: It is, because that will drive both value and rent up.
Chris Gray: So it obviously really comes down to the strata issues, which is why we’re really talking about it. What are your thoughts on whether people kind of jump in and say that’s a great opportunity or what the hell am I up for?
Arthur Charlaftis: I think you get two schools of thoughts here. You’ve got the unknown, and I think not all the costs have been established yet in terms of what they’ll be. So I think it depends on the type of investment it will be, in terms of how confident they are. What are your thoughts in terms of it being an opportunity?
Chris Gray: We’re just about to pick one up hopefully early next week that’s had some major issues and they’ve got maybe $300,000 or $400,000 in the strata. But I think to the average person it is pretty tough, especially that unknown bit. Sure, if you’ve got some costs and they’ve gone out to tender and you know exactly what you’re in for, but again, for first home buyers it can be tough because you’re trying to save for a deposit, the banks aren’t going to lend you money for special money, so that’s extra cash you have to come up with.
Arthur Charlaftis: Right, so for an experienced buyer though do you think knowing and being able to have some cash?
Chris Gray: It can be a great thing because suddenly it puts off the average person, and so if you have reasonably deep pockets and you think, I mean, I always think of strata fees, either you’re looking after a building, so you’re going to look after your investment, because it will cost twice as much if you don’t deal with it. Or you’re doing it to actually improve the building, which is a great thing because you put in $50,000 or $10,000 and it goes up by $20,000 or $70,000.
Arthur Charlarftis: So I guess the other positive thing is actually doing something about some of the damages there.
Chris Gray: Yeah, because there’s nothing worse than all these stratas because the downside about strata, trying to get two of your mates to agree on something is hard enough, let alone if you have 10 people in the strata or 100 people in the strata. So that’s the big thing, at least they’re doing something. So purchase or pass for you?
Arthur Charlarftis: I would pass because of the unknowns.
Chris Gray: I’m not generally that put off by strata issues because I like the fact that they are dealing with the problems but for the average buyer who may not have the experience with those things, and may not have the spare cash, it could be a nightmare from hell waiting to happen. So in this particular case, I’m going to pass on this one.
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Purchase or Pass? Strata issues in Fairlight

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James Packer has chosen a winning design for his $1 billion Barangaroo tower, Crown Sydney.
British architecture firm Wilkinson Eyre took the podium with a unanimous decision from the judging panel, which included representatives from Crown, Lend Lease, NSW Department of Planning and Barangaroo Delivery Authority.
Urban Taskforce chief executive Chris Johnson described the Wilkinson Eyre design (pictured below) as a series of interwoven curves that emphasise the vertical form.
{yoogallery src=[images/stories/2013/05/may3barangaroothree]}
The winner is due to be formally announced today, but Packer let the news slip yesterday.
“This city deserves a building that is truly special and the Wilkinson Eyre’s design delivers it. It’s a wonderful moment for Crown,” Packer told The Australian Financial Review.
It was the <a href="https://www.propertyobserver.com.au/news/gone-is-the-hotel-over-the-water-but-crown-s-james-packer-still-harbours-inspirational-architecture-for-barangaroo-hotel/2013050260965" target="_blank">design</a> which polled the highest in our reader survey taking in 60% of the votes. When released it was described as a series of interwoven curves that emphasise the vertical form.
Former Prime Minister and former chairman of the Barangaroo Design Excellence Review Panel Paul Keating had said that all the designs were "heading in the direction of being a significant building for Sydney".
But earlier this month he announced his preferred design options were either the Adrian Smith and Gordon Gill Architecture's sea shell-inspired tower or the Wilkinson Eyre design over the Kohn Pedersen Fox design.
The 60-storey six-star resort hotel and casino still needs approval from the planning department before it can reach Packer’s desired height of 235 metres. The site is currently approved for 170 metres.
Packer wants the tower to be the next Sydney icon, up there with the Sydney Opera House.
I want this building to be instantly recognizable around the world and feature on postcards and memorabilia promoting Sydney,” Packer said.
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Wilkinson Eyre design wins Packer's Crown Sydney Barangaroo tower competition

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A Potts Point penthouse has sold at auction for a building record price - $1,645,000 through Laing Real Estate agents Vicki Laing and Simon Polito.
Atop Byron Hall, at the corner of Macleay and Hughes streets, the two bedroom apartment last traded some 31 years ago.
The highrise building was designed by architect Claud Hamilton and built during the late 1920s. Hamilton designed other circa-1920s buildings in the hood including Regents Court in Springfield Avenue.
<a target="_blank" href="https://laing.com.au/834294/">The 140-square-metre penthouse</a>, one of two apartments on the building’s top floor that also holds the building's clothes line, has a north-east aspect. There are views from the Opera House to The Heads.
In need of an interior upgrade, it has two bedrooms, a kitchen, bathroom and interconnected living and dining areas which flow to a sunroom and terrace.
It has been the home of Mrs Erna Keith, a well-known Potts Point identity who’d worked as a bar maid at The Chevron Hotel’s Silver Spade Room during its 1960s heyday.
Upgraded during recent years, the landmark building is a company title Beaux Arts building with a timber panelled foyer with a terrazzo floor.
As so often happens within company title blocks, its been bought by residents who will upgrade within the block.
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Byron Hall, Potts Point penthouse sells at auction for record price

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The most expensive sale for the week ending May 12 was a double-brick Federation classic in Roseville, New South Wales, which sold at auction on May 11 for $3.7 million, according to RP Data.
Located on Bancroft Avenue, the property (pictured below) was listed by Jon Dundas-Smith of <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-roseville-nsw-2069/181066" target="_blank">McGrath Estate Agents</a>.
<img alt="bancroftmay15one" height="311" width="470" src="/images/stories/2013/05/bancroftmay15one.jpg">
Situated on a 1,863-square-metre block, the home boasts six bedrooms, two bathrooms and a large wraparound verandah.
However, the tennis court and swimming pool are in need of restoration.
The home last sold in May 2005 for $3.15 million.
Victoria dominated the top 10 list last week, with a total of six properties securing spots.
The top 10 most expensive sales last week 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/19_bancroft_avenue_roseville_nsw_2069/5954824" target="_blank">19 Bancroft Avenue, Roseville, NSW, 2069</a>, six-bedroom house, sold at auction on May 11 by McGrath Estate Agents for $3.7 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_cole_street_brighton_vic_3186/10008471" target="_blank">20 Cole Street, Brighton, VIC, 3186</a>, five-bedroom house, sold at auction on May 11 by Hodges Real Estate Brighton for $3.65 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4/54_mont_albert_road_canterbury_vic_3126/10257535" target="_blank">4/54 Mont Albert Road, Canterbury, VIC, 3126</a>, four-bedroom house, sold at auction on May 11 by Kay &amp; Burton Real Estate Hawthorn for $3.25 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/203_george_street_east_melbourne_vic_3002/10874563" target="_blank">203 George Street, East Melbourne, VIC, 3002</a>, three-bedroom house, sold at auction on May 11 by Nelson Alexander Real Estate Fitzroy for $3.23 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/13_bower_street_manly_nsw_2095/3972452" target="_blank">13 Bower Street, Manly, NSW, 2095</a>, three-bedroom house, sold prior to auction on May 11 by Elders Manly for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/139_bellevue_road_bellevue_hill_nsw_2023/1367161" target="_blank">139 Bellevue Road, Bellevue Hill, NSW, 2023</a>, six-bedroom house, sold prior to auction on May 11 by BresicWhitney Estate Agents for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_matthews_court_toorak_vic_3142/13586463" target="_blank">3 Matthews Court, Toorak, VIC, 3142</a>, four-bedroom house, sold at auction on May 11 by RT Edgar Toorak for $2.77 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_the_ridge_canterbury_vic_3126/10258783" target="_blank">2 The Ridge, Canterbury, VIC, 3126</a>, four-bedroom house, sold at auction on May 11 by Jellis Craig Real Estate Hawthorn for $2.41 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14_ryeburne_avenue_hawthorn_east_vic_3123/11201820" target="_blank">14 Ryeburne Avenue, Hawthorn East, VIC, 3123</a>, four-bedroom house, sold at auction on May 11 by Fletchers Real Estate Hawthorn for $2.4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/57_countess_street_mosman_nsw_2088/4482508" target="_blank">57 Countess Street, Mosman, NSW, 2088</a>, five-bedroom house, sold at auction on May 11 by Vernon Partners for $2.221 million
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Double-brick Federation classic last week's most expensive sale: RP Data

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As we creep closer to winter, slightly fewer auctions are being held every weekend, with 1,398 auctions scheduled across the capital cities this week, according to RP Data. 
This figure is slightly lower than the revised 1,545 auctions that took place last week and the 1,749 auctions that took place the week before.
The clearance rate softened slightly from the previous week of 67.7% to 67.5% last week.
At the same time last year, the clearance rate was much lower at 54.1%.
Melbourne has 682 auctions scheduled for the coming week, slightly less than the revised figure of 784 last week and 822 auctions the previous week.
However, Melbourne’s clearance rate increased to 72.3% last week from 70.4% recorded the previous week.
At the same time last year, Melbourne had 674 auctions and a 58% clearance rate.
Meanwhile, Sydney’s clearance rate fell from 72.7% the previous week to 71% last week.
However, it is the fourth week in a row that Sydney’s auction clearance rate has been recorded above the 70% mark.
Sydney has 467 auctions scheduled for the coming week, slightly fewer than the revised figure of 506 auctions last week and 585 the previous week.
At the same time last year, Sydney has 454 auctions and a clearance rate of 55.5%.
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