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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Lights, camera, action! Well not really. Despite the headlines over the past year, it was a just like any other court room filled with trolleys of affidavits when the 8th floor NSW Supreme Court hearing got underway today. All presided over by acting Justice William Windeyer.
It's the three-day Sydney court hearing centred on the actor Toni Collette and her musician husband, David Galafassi, being sued over their failure to settle on an alleged $6.35 million Paddington terrace purchase.
The were no celebrities in the court though McGrath estate agent Ben Collier was there to provide lengthy testimony to the court.
Collette, who was snapped only recently by the paparazzi in Sydney in News Ltd papers, was absent from the courtroom corridors but it was heard she had suggested she didn't have the finances to go through with the Paddington purchase and "implored" the vendors to settle the matter away from the public gaze.
She is currently filming a movie about the search for happiness. With filming scheduled in Canada and London, <a href="https://www.tonicollette.org/2013/05/10/hector-and-the-search-for-happiness-first-still/" target="_blank">a first production still</a> (pictured below) for “Hector and the Search for Happiness”, featuring Simon Pegg and Toni Collette, has been recently posted on a Toni Collette fan website.
<img alt="collettemay13one" height="279" width="470" src="/images/stories/2013/05/collettemay13one.jpg">
The court was told the selling agent Ben Collier's initial price estimate was $6.5 million before the 2011 $23,000 marketing campaign got underway for the vendor, Susie Kelly, the co-founder and owner of Industrie clothing with her husband, Nick.
The court heard the three Woollahra comparable sales Collier offered for the Kelly's price guidance were 19 Trelawney Street, 3 Tara Street and 50 Edward Street. After being approached by the vendors in early 2011, and then around April and May 2011 Collier said there were a few things not selling, so he felt it best for the vendors to wait to Spring 2011.
The court hearing dates back to then October 2011 sale when the entertainment industry couple reputedly signed a contract to buy a double-fronted Paddington terrace from Susie Kelly.
Ben Collier confirmed that Mr and Mrs Galafassi were not on the McGrath data base but came to the property after the marketing got underway.
"There was a confidentiality agreement in the sales contract," Mr Collier said, adding that the internal McGrath price sale recording system allowed the full details of the sale to be hidden from all but the parties to the contract.
However word got out that the Stewart Street house (pictured below) had been<a target="_blank" rel="nofollow" href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250"> snapped up</a> at around $6.35 million quite early in its marketing campaign in October 2011. The court was told David Galafassi put down a $317,500 deposit on September 30, 2011 agreeing to complete the sale on December 30, 2011.
{yoogallery src=[images/stories/november8collette]}
The entertainment industry couple made their alleged subsequent decision not to proceed with the Paddington purchase some months later after they struggled to find a buyer of their <a href="/news">Bronte </a>house.
Their 1885 Bronte weatherboard cottage that cost $4.4 million in mid-2009 struggled to find a buyer despite being tipped to sell for around $900,000 less than their purchase price, and ended up selling at $3.5 million
Collette and Galafassi instead bought back at Bronte, swapping homes with <a href="/news">the buyer of their own $3.5 million house</a>.
The Kellys had bought on Kutti Beach at <a href="/news">Vaucluse </a>in 2011 for $15.5 million, so incurred a land tax charge on the redundant unsold Paddington property.
By January 2012 Collier indicated he was still hopeful Mr and Mrs Galafassi would complete the purchase, but it was not to be.
"I wanted to write to you directly in the hope that you will understand," Collette emailed the Kelly's on January 24 2012 bringing an end to the hopes that a sale might proceed.
"We can no longer buy your beautiful house. We don't have the finances to go through with the purchase. For the sake of both our families I implore you to find a way to settle this less publicly."
The Kelly's barrister Bernie Coles QC suggested one of the reasons for pulling out of the Paddington purchase was that they had decided to buy another property.
A proposed post-Easter 2012 auction marketing campaign -  with a repeated $6.5 million estimate - never got underway, although Ben Collier suggested his price estimate was an unlikely outcome.
Mr Collier actually envisaged the market had deteriorated by "at least 10%" over the period between early 2011 and 2012 with three Holdsworth Street sales highlighting the "gradual deterioration of the market." He pointed especially to the sales of 86, 88 and 90 Holdsworth Street.
His proposed $20,000 remarketing campaign recommendation was offered to the Kelly's, but the Kelly's decided not to take it to May 2012 auction or undertake any advertising at all.
Under cross examination from the Gallafassi barrister, Jeremy Stoljar SC, Mr Collier said it was possible that a marketing campaign may have achieved a better result.
"It's possble it might have acheived a better price," but not likely, Mr Collier told the court.
"Its impossible to draw any conclusions from movements in the market based in the Holdworth Street sales," the Galafassi barrister suggested.
It was important that there be a proper marketing campaign," the Galaffassi barrister suggested.
The Paddington terrace resold on April 24, 2012 to Ian Ball from Ernst &amp; Young for $5.5 million, so the entertainment industry couple face an $850,000-plus claim against them for the difference.
"They (Ian Ball) weren't the first person to come along," Mr Collier said under cross examination by the Galafassi's barrister.
The court was advised that brief consideration was given to the house being a $4000 weekly rental to the Roberts-Thomson family during the period when the sale was unravelling.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house sits on a 360-square-metre block.. 
The Kelly's are seeking relief for the $850,000 difference in the price of the resold terrace house, <a target="_blank" href="https://www.propertyobserver.com.au/news/land-tax-claim-in-toni-collette-s-paddington-property-drama/2012112158037">along with $43,500 land tax</a>, as well as the costs of its resale and interest.
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Toni Collette Paddington property court case hears consistent $6.5 million price estimate

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Two new properties have been thrown into the mix of the latest SQM top ten most discounted properties list and have taken out the top two positions.
A three-bedroom, one-bathroom home on South Street Fremantle has taken out the top slot with a large discount of 45%, having only been on the market for 84 days.
The home was originally listed for $1.8 million and following a week-by-week decline, is now listed for $990,000.
WA is now on par with Queensland in terms of the amount of properties in the top ten list and with the highest discounts.
The second most discounted property on the list is a NSW home in Londonderry, with a 44% discount.
The property was originally listed for $2.3 million and 938 days later is asking for $1.29 million. 
The latest SQM report is more of a top nine, as the property in tenth place is not based on the current listing price decline but more so a discount on the last sold price.
The Surfers Paradise property last sold in 2005 for $526,000 and is now listed for $350,000 – a 38% discount.
The SQM discount report has over 1,000 properties in postcode 4217 that have been on the market for over 60 days.
Property Observer recently <a href="https://www.propertyobserver.com.au/residential/friday-may-3-news-gold-coast-time-on-market-drops-slightly-to-225-days-apm/2013042960834" target="_blank">reported</a> on the Gold Coast’s lengthy time on the market with an average of 225 days spent on the market, according to April data.
 
1.
 
<a href="https://www.realestate.com.au/property-house-wa-fremantle-112917623" target="_blank">18 South Street Fremantle 6160</a>
 
Days on the market: 84
Initial asking price: $1,800,000
Current asking price: $990,000
Reduction: 45%
 
2.
 
<a href="https://www.realestate.com.au/property-other-nsw-londonderry-7296375" target="_blank">9 Hughes Street Londonderry 2751</a>
 
Days on the market: 938
Initial asking price: $2,300,000
Current asking price: $1,290,000
Reduction: 44%
 
3.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-tangalooma-104624146">7 Cassidae Crescent Tangalooma 4025</a>
 
Days on the market: 1490
Initial asking price: $1,495,000
Current asking price: $875,000
Reduction: 41%
 
4.
 
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway Taranna</a>
 
Days on the market: 930
Initial asking price: $499,000
Current asking price: $299,000
Reduction: 40%
 
5.
 
<a target="_blank" href="https://www.realestate.com.au/property-other-qld-doolandella-111175499">57 Cloverdale Road Doolandella 4077</a>
 
Days on the market: 266
Initial asking price: $990,000
Current asking price: $600,000
Reduction: 39% 
 
6.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-sa-port+adelaide-106632822">502 Tarni Court Port Adelaide 5015</a>
 
Days on the market: 1036
Initial asking price: $725,000
Current asking price: $450,000
Reduction: 38%
 
7.
 
<a target="_blank" href="https://www.realestate.com.au/property-apartment-wa-north+fremantle-107071431">1/1 Freeman Loop North Fremantle 6159</a>
 
Days on the market: 861
Initial asking price: $4,500,000
Current asking price: $2,795,000
Reduction: 38%
 
8.
 
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420">19 Lychee Drive Caboolture 4510</a>
 
Days on the market: 1070
Initial asking price: $949,000
Current asking price: $598,000
Reduction: 37%
 
9.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretal Two Rocks 6037</a>
 
Days on the market: 1218
Initial asking price: $1,100,000
Current asking price: $699,000
Reduction: 36%
 
 
10.
 
<a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-107788271">3221/23 Ferny Avenue Surfers Paradise 4217</a>
 
Days on the market: 493
Last sold for: - $562,000
Current asking price: $350,000
Reduction: 38%
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Two new properties shake up top ten discounted properties this week: SQM

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Mirvac could pull forward sales and construction at its Harold Park project in Glebe after strong sales from the first two releases, according to a Goldman Sachs report.
Analyst Simon Wheatley’s report on Harold Park says stage 3 could be released ahead of timetable after pre-sales on stage one and two were strong with sales prices “potentially slightly ahead of feasibility”.
The report says around 90% of stage one is sold and 70% of stage two with recent sales numbers accelerating.
<img alt="haroldparkmay8one" height="264" width="470" src="/images/stories/2013/05/haroldparkmay8one.jpg">
“Consequently, we believe that the release of stage 3 could be fast-tracked and may be brought to the market imminently,” Wheatley says.
He says pulling the project forward could result in a plateau in earnings for Mirvac after project completion but they are willing to take the risk because “the ducks are quacking”.
“Demand is strong at Harold Park currently and the release will be timed to meet this demand,” Wheatley says.
<img alt="haroldparkmay8two" height="261" width="470" src="/images/stories/2013/05/haroldparkmay8two.jpg">
He says Mirvac are worried if they don’t pull the project forward they might be left with excess stock if the property market suddenly weakens.
Given the success of the Harold Park and Chatswood Era projects, Wheatley says Mirvac’s profits will likely be higher than previously anticipated.
Wheatley says Mirvac hope to achieve an earnings before interest and taxes figure on the project of more than $200 million.
He puts the total end value of the project, which he was given a tour of by Mirvac, at $1.2 billion.
In March more than 300 people attended the weekend launch of the project in Glebe.
One-bedroom apartments started at $525,000.
<img alt="haroldparkmay8three" height="277" width="470" src="/images/stories/2013/05/haroldparkmay8three.jpg">
There were 27 one-bedders on offer ranging from 50 square metres to 75 square metres; 33 two-bedders (75 to 100 square metres) from $830,000; five three-bedders (105 to 125 square metres) from $1,325,000 and nine three-bed terraces (165 to 180-square metres) from $1.74 million.
The priciest offerings were $1.895 million four-bedroom terraces.
Mirvac is transforming the former Harold Park Paceway into a $1 billion-plus infill housing development.
The Harold Park master plan allows for 1,250 dwellings with a 208,000 square metre network of landscaped parks.
<img src="/images/stories/2013/05/haroldparkmay8four.jpg" width="470" height="161" alt="haroldparkmay8four">
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Mirvac to pull forward Harold Park project sales and construction: Goldman Sachs

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Offered for the first time in over 70 years, a bungalow in Sydney’s lower North Shore sold at its weekend auction for $1.415 million.
Located on Wheatleigh Street, <a target="_blank" href="/news">Naremburn</a>, the deceased estate had been listed with a $1.1 million-plus price guide by Lea Turner of Morton &amp; Morton Real Estate.
Comprising four bedrooms and one-bathroom, the residence has been well maintained and features an original kitchen.
Situated on a 574-square-metre block, the property benefits from natural northern light and has the potential for a complete refurbishment.
More than 60 groups came through the property’s first open, with eight taking away a contract.
The median house price in Naremburn is $1.2 million, according to RP Data.
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Naremburn bungalow with original features fetches over $1.4 million at auction

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The most expensive sale for the week ending May 5 was an undeveloped waterfront block in Cremorne, which sold for $4.925 million, according to RP Data.
Located on <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-cremorne-nsw-2090/75413" target="_blank">Wonga Road</a>, the 1,511-square-metre block currently hosts a circa 1945 two-bedroom, one-bathroom residence.
The north facing waterfront property (pictured below) is one of the last remaining undeveloped waterfront blocks in the area and features a shared tidal pool.
<img src="/images/stories/2013/05/wongamay7one.jpg" width="470" height="310" alt="wongamay7one">
The property has the potential to be subdivided or rebuilt into a contemporary family home, subject to council approval.
John Welch of McGrath Mosman secured the sale and had listed the property with a $4.8 million-plus guide.
New South Wales dominated the auction front with nine properties in the most expensive sales list.
The top 10 most expensive sales across Australia last week
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_wonga_road_cremorne_nsw_2090/2003256" target="_blank">20 Wonga Road, Cremorne, NSW, 2090</a>, two-bedroom house, sold on May 1 by McGrath Mosman for $4.925 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/117_avoca_drive_avoca_beach_nsw_2251/1204562" target="_blank">117 Avoca Drive, Avoca Beach, NSW, 2251</a>, five-bedroom house, sold prior to auction on April 30 by Raine &amp; Horne Terrigal/Avoca Beach for $3.8 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/55a_gardyne_street_bronte_nsw_2024/1610317" target="_blank">55A Gardyne Street, Bronte, NSW, 2024</a>, four-bedroom house, sold at auction on May 1 by GoodyerDonnelley Real Estate for $3.32 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/21_gaerloch_avenue_tamarama_nsw_2026/14995863" target="_blank">1/21 Gaerloch Avenue, Tamarama, NSW, 2026</a>, five-bedroom unit, sold at auction on May 5 by McGrath Estate Agents for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/53_hooper_street_randwick_nsw_2031/5755601" target="_blank">53 Hooper Street, Randwick, NSW, 2031</a>, four-bedroom house, sold at auction on May 5 by Raine &amp; Horne Double Bay for $2.8 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/16_henham_street_hawthorn_east_vic_3123/11199731" target="_blank">16 Henham Street, Hawthorn East, VIC, 3123</a>, four-bedroom house, sold at auction on May 5 by RT Edgar Boroondara Hawthorn for $2.67 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/16_mermaid_avenue_maroubra_nsw_2035/4046307" target="_blank">16 Mermaid Avenue, Maroubra, NSW, 2035</a>, five-bedroom house, sold on April 30 by Ellison Zulian Property for $2.315 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/26_hillside_road_newport_nsw_2106/4872203" target="_blank">26 Hillside Road, Newport, NSW, 2106</a>, five-bedroom house, sold at auction on May 2 by L J Hooker Mona Vale for $2.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/19_augusta_street_strathfield_nsw_2135/6479292" target="_blank">19 Augusta Street, Strathfield, NSW, 2135</a>, five-bedroom house, sold at auction on May 4 by Strathfield Partners for $2.1 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/19_karuah_street_strathfield_nsw_2135/6487121">19 Karuah Street, Strathfield, NSW, 2135</a>, five-bedroom house, sold at auction on May 4 by Devine Real Estate for $2.1 million
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Undeveloped waterfront block in Cremorne tops 10 most expensive sales list

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A new voodoo-themed bar is set to launch in a vacant laneway car park in Sydney.
The proprietors of the planned <a target="_blank" href="https://www.hanzic.com.au/103491/972739/home/papa-gedes-bar-sydney-branding-and-typography">Papa Gede bar</a>, have secured a five year lease for a lower ground floor car-park at 207 Clarence Street.
<img height="539" width="400" src="/images/stories/2013/05/papagedemay6one.jpg" alt="papagedemay6one">
The space - located on the lower ground 139 square metre site area - was formerly used by the office tenants to park four cars with storage space and bathing facilities.
<img height="534" width="400" src="/images/stories/2013/05/papagedemay6two.jpg" alt="papagedemay6two">
The leasing agent, John Skufris from <a target="_blank" href="https://www.raywhite.net/?p=7344">Ray White</a>, says the tenants have either started taking public transport or have found other parking.
“The city’s western corridor has proven extremely popular for small bar operators, particularly the precinct bounded by Market, Erskine, George and Kent streets,” Skufris says.
“We received more enquiries for the lower ground floor of 207 Clarence Street from small bar operators than traditional car parking requirements.
“We also received enquiries from prospects including gym, bicycle and wellbeing groups partly due to the availability of weekend building access.”
According to branding of the bar designed by graphic designer Steve Hanzic, drinks will include 'corpse reviver #2', 'death in the afternoon' and 'hangman’s blood'.
<img height="408" width="470" src="/images/stories/2013/05/papagedemay6five.jpg" alt="papagedemay6five">
The building, known as CBD House, has four levels plus a basement area located between King and Market streets. The 109 square metre top floor is up for lease through Ray White.
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Voodoo bar to animate former Clarence Street, Sydney car parking space

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The three shortlisted designs for an iconic tower for Crown Resorts at Barangaroo demonstrate a new approach to the design of tall towers.
<a target="_blank" href="/news">The three designs</a> demonstrate architecture of flowing shapes that imply movement as opposed to older static tower forms.
The three architects have incredible global track records in designing tall buildings. Clearly each team can deliver a quality final product.
With my background as the NSW Government Architect for 10 years it is hard to resist giving some preferences even based on early information.
The proposal by Adrian Smith and Gordon Gill is a fraction ahead in my assessment with its dynamic shape and its approach to the ground plane. These architects have designed some of the world’s tallest buildings from the beautiful Jin Mao tower in Shanghai, the Burj Khalifa in Dubai to the Kingdom Tower in Jeddah at 1000 metres and more recently their design for the 119 floor Greenland Centre in Wuhan in China.
Following close behind is the design by Wilkinson Eyre with a series of interwoven curves that emphasise the vertical form. This firm has designed the elegant Guangzhou International Finance Centre which has a flowing cigar shape to the 103 storey tower with a triangular atrium through the upper levels.
Kohn Pedersen Fox have another flowing design with some midrise wings. Their impressive 118 storey International Commerce Centre in Hong Kong demonstrates the quality of their architecture and how an iconic building on the waterfront can add value to the city.
The three designs carry the spirit of the original design for a hotel in the water onto the land.
These new designs add the spark that the hotel in the water provided back into the overall design.
Clearly there will be more refinement of the designs and a planning approval process that will assess the winning proposal in detail but Sydney looks like is getting a world class sculptural building that demonstrates our confidence as a global city.
Chris Johnson is chief executive of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CDEQFjAA&amp;url=http%3A%2F%2Fwww.urbantaskforce.com.au%2F&amp;ei=5U-DUbOcCcuuiQe6iICwAQ&amp;usg=AFQjCNFJI_DBNm6steAkrA2IciAdrnpiPQ&amp;bvm=bv.45960087,d.aGc" target="_blank">Urban Taskforce</a>.
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Three Barangaroo Hotel designs show Sydney will get a world class sculptural building: Chris Johnson

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A damning parliamentary report has called for the abolition of the NSW Office of the Valuer General in favour of a Valuation Commission along with 29 recommendations for fixing the current non-transparent system of land valuations.
The Office of the Valuer General, currently led by Philip Western, provides  around 2.6 million land valuations in NSW each year, which are used to levy land taxes, rates and duties.
The joint standing committee report of the Office of the Valuer General, chaired by Matt Kean is highly critical of the current way the office operates.
Based on submissions made since January into its 'Inquiry into the land valuation system in NSW', the committee identified a long-list of concerns around the volatility of land values, transparency and “procedural fairness currently afforded to landholders and the governance framework of the valuation system”.
It reports on a “systemic failure to afford landholders a fair hearing, to provide transparency surrounding the valuation methodologies and to treat landholders with the respect, dignity and fairness, to which they are entitled, has significantly and detrimentally impacted landholders”.
Its assessment of the current framework of valuations, finds that the independence of the valuation function from executive government has been “undermined” through the Land and Property Information (LPI) government agency “performing functions that should be performed by the valuer general”.
Submissions received also show “material inconsistency between property valuations” with some property valuations doubling over the space of 12 months and large variations in the value of similar properties located on the same street.
At a hearing in Sydney in March, the committee heard an instance where a valuation of a mine near Broken Hill was reduced from $20.9 million to $4.9 million.
The recommendations include “a new governance framework that replaces the Valuer General with a Valuation Commission”.
The Commission model would involve the appointment of two valuation commissioners and a chief valuation commissioner, all independent statutory appointments.
The chief valuation commissioner would issue public guidelines for the valuation of land in NSW that would clearly state the methodologies; and the circumstances in which they are applied.
Under this framework there would also be Ombudsman oversight, including a “macro review every two years to provide accountability”.
The Committee also recommends a “three year averaging of council rate valuations to dampen the material and significant volatility in the valuation system”.
Other recommendations include improved procedures for landowners to review valuations; the establishment of a dispute resolution system; the annual publication of a separate and detailed annual performance report as well as the creation of a central database of key information of “non-mass” land valuations.
The full report and recommendations can be <a target="_blank" href="https://www.parliament.nsw.gov.au/Prod/parlment/committee.nsf/0/34f120abe2f97076ca257b5f00203b4e/%24FILE/Executive%20Summary%20&amp;%20Recommendations%20-%20Land%20valuation%20system.pdf">downloaded here.</a>
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lschlesinger-FZcF9M3vE6

“Inconsistent” and “undermined” NSW Office of Valuer-General must go says damning parliamentary report

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No capital cities experienced an increase in stock levels over the month of April, with Sydney recording the greatest monthly decline of -9.7%, according to the latest SQM Research report.
Stock listings declined nationally by 2.7% over April with online residential listings sitting at a total of 345,034.
Nationally, stock listing decreased -1% year on year when compared to April 2012.
Sydney recorded the greatest monthly decline of -9.7% with a total stock listing of 25,121 for the month of April.
<img height="165" width="470" src="/images/stories/2013/05/sqmchartmay3one.jpg" alt="sqmchartmay3one">
Compared to April 2012, Sydney experienced a -14.5% decrease.
Melbourne recorded a monthly decrease of -1.1% with a total 44,829 listed stock for the month of April.
Year on year, Melbourne experienced an increase of 1.7%.
Managing Director of SQM Research Louis Christopher says Melbourne still has too much stock on the market.
“It looks elevated,” says Christopher.
Darwin experienced the smallest decrease of -0.1% during April with a total of 1,176 listed stock.
Meanwhile, Canberra recorded the largest yearly increase in stock levels, growing 5.2% since April 2012 with a total of 3,768 listed stock.
Canberra recorded a decrease of -1.9% for April but Christopher says that’s seasonality.
“It is becoming clear now that these results of late have been more influenced by seasonality rather than cyclical factors.
“That suggests to me that the forces of demand verses supply in the national housing market are reasonably balanced right now.
“Sydney is clearly in recovery mode, while I strongly believe Canberra is in a downturn,” says Christopher.
SQM says the property market is now showing signs of shifting from a volatile market, which has been dependent on interest rates and the country’s economic climate, to a market that is in the state of equilibrium between buyers and seller.
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The April capital city property market shrunk with Sydney's decline in stock levels at 9.7%: SQM

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James Fairfax, the philanthropic former chairman of the publishing company that bears his family name,  has listed his Woollahra retreat.
It's been his parkfront city residence in the prized Edward Street cul-de-sac since 1992.
<img height="312" width="470" src="/images/stories/2013/05/woolahramay3one.jpg" alt="woolahramay3one">
The north-facing architectural gem with two bedrooms and 2.5 bathrooms was custom-fitted internally by the internationally acclaimed George Freedman in the mid-1990s.
It fills with northerly light and parkland views from its compact 234 square metre holding.
<img height="312" width="470" src="/images/stories/2013/05/woolahramay3two.jpg" alt="woolahramay3two">
Much of its elegant scale arises from its indoor/outdoor lifestyle composition.
Its layout includes limestone floors and terraces that overlook peaceful Zen gardens.
<img height="311" width="470" src="/images/stories/2013/05/woolahramay3three.jpg" alt="woolahramay3three">
The freestanding home has been marketed as a "unique private work-of-art with Bauhaus and oriental influences."
It has post-modernist cachet, the ads suggest.
<img src="/images/stories/2013/05/woollahramay3four.jpg" width="470" height="310" alt="woollahramay3four">
Offers are due May 31  through Michael Dunn and Robynne Arnouts at Richardson &amp; Wrench Double Bay in conjunction with Tim Pockley at Pockley &amp; Roderick.
They are quoting around $4 million.
<img src="/images/stories/2013/05/woollahramay3five.jpg" width="470" height="310" alt="woollahramay3five">
Featured in the architectural and design magazine, Monument, James Fairfax moved into the home after he sold Glanworth, his Darling Point harbourfront mansion to the Singaporean hotel magnate, Ho Whye Chung for $8.5 million in 1994.
The eldest son of the late median tycoon Sir Warwick Fairfax, James Fairfax was until the late 1980s a director and chairman of the now ailing Fairfax media empire.
<img src="/images/stories/2013/05/woollahramay3six.jpg" width="470" height="309" alt="woollahramay3six">
It is understood the philanthropic former newspaper man has listed the property just to reduce by one the many abodes he currently maintains.
He will retain the historic Retford Park in the NSW southern highlands, the Bilgola beachhouse, Ginahgulla, along with Stanbridge Mill at Dorset, England.
<a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/james-fairfax-plans-to-subdivide-then-gift-historic-retford-park/2013022859667">Some land is currently being sub-divided off Retford Park</a>, two of which go to auction<a target="_blank" href="https://www.propertyobserver.com.au/rural/the-first-of-the-small-acreages-on-the-retford-park-bowral-estate-are-set-for-may-4-auction/2013042860776"> this weekend</a>.
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