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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Claraville, the largest residential landholding with Victorian Filigree style mansion at St Peters in Sydney's inner west, has been scheduled for April 6 auction through agent Brad Pillinger.
The former home of the late artist David Boyd and his late wife, sculptor Hermia, who bought the adjoining properties for $250,000 and $350,00o in 1988, now has $2.2 million-plus hopes.
Set on about 1500 square metres, <a target="_blank" href="https://www.pillinger.com/current-listing/95-21-23-Silver-ST-PETERS">the grand six-bedroom Victorian mansion comes with a ballroom, grand formal sitting and dining rooms</a>.
With high ceilings and stained-glass windows, many original features remain. Behind the house is a stable set up as an artist's studio.
David Boyd was the son of artist William Merric Boyd and a member of the Boyd artistic dynasty.
Title Tattle recalls in 1988 that the Boyds secured a record $1,161,000 in Paddington when they moved to St Peters because they needed more space to hang their art collection that spanned five generations. The Silver Street house was quickly cluttered, Title Tattle recalls, after being invited to the newly acquired house.
The Boyd's had consolidated two terraces on Union Street, paying $58,000 in 1971 for the corner holding, then adding the neighbouring terrace for $58,000 in 1976.
Naming it Hermie House, it had been expected to fetch more than $850,000 when auctioned by Andrew Gibbons, but fetched the impressive $1,161,000. 
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Boyd artistic dynasty list Claraville at St Peters

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Last year's Archibald prizewinner Tim Storrier will auction off his historic Bathurst district home.
<a target="_blank" href="https://professionalsbathurst.com.au/real-estate/property/597451/lifestyle/nsw/bathurst-2795/"> Blackdown farm estate </a>will go to auction on April 11.
Property Observer first <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/tim-storrier-lists-blackdown-at-bathurst-with-%244-million-plus-hopes/2012100156900">reported</a> on the house listing in October last year, when Storrier was asking for $4 million-plus.
Failing to secure a buyer, the 56-hectare holding will be auctioned with a price guide of $3 million to $4 million.
{yoogallery src=[images/stories/2012/09/octblacktown]}
The estate boasts seven bedrooms, four bathrooms and three cottages. It also includes a library, guest accommodation and two studies.
Blackdown cost $2.5 million in 2008 when bought from the haircare product pioneer Anton Starling, who had sought more than $3.5 million.
Storrier and his wife Janet have since reportedly spent $1.5 million on extensive renovations of the homestead and developing gardens.
The 56-hectare property is four kilometres from the Bathurst city centre, at <a target="_blank" href="/news">Eglinton</a>.
The house was built for commissariat storekeeper Thomas Hawkins, his wife, Elizabeth, and their eight children after a land grant by Governor Thomas Brisbane.
Thomas Hawkins, a former British naval officer, had been appointed commissarial storekeeper at Bathurst in 1822.
Hawkins had spent 18 days to get across the Blue Mountains to <a target="_blank" href="/news">Bathurst</a>, where he selected the holding on the Macquarie River.
The Ian Stapleton-renovated homestead comes with a tennis court, pool, dressage arena, stable complex, and a recently constructed artist's studio in its grounds.
The estate is listed for auction through Meares and Associates and James Thompson from Professionals Bathurst.
The marketing agents say the farm can be developed as a corporate retreat or a boutique resort.
In November last year, the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501">Storrier’s purchased Hopewood House</a> – a Southern Highlands mansion owned by Fairfax Media director Michael Anderson and his wife – for around $6 million on delayed settlement terms.
Hopewood House was initially listed with $9 million price hopes over two years ago.
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Artist Tim Storrier to auction Blackdown Estate at Bathurst

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<img alt="macreemarch20one" height="94" width="470" src="/images/stories/2013/03/macreemarch20one.gif">
John Macree says he loves selling industrial manufacturing plants as they are "often like a time capsule back to a very different era".
<img src="/images/stories/2013/02/macreemarch20two.png" width="200" height="200" alt="macreemarch20two" style="margin: 5px; float: left;">Agent: John Macree
Position: head of NSW sales and investments
Company: Jones Lang LaSalle
Office location: Sydney

How long have you been in the industry? 
28 years. I started in property management working at Government Insurance Office GIO. I then moved into industrial sales and leasing with Hooker Corporation in the mid-1980s. I’ve been in sales with Jones Lang LaSalle for the past 13 years. 
What’s happening in the area you specialise in? 
There’s strong demand for well-leased passive investments in all price points. Current active buyer groups in the sub-$20m range include private investors and self-managed super funds. In the over-$20m range, institutional investors – both listed and wholesale – as well as offshore buyers are active. Residential development sites are in demand – particularly those within a 20km radius of the CBD. 
Describe the most interesting property you have sold. 
I love selling industrial manufacturing plants; they are often like a time capsule back to a very different era. One of the more interesting manufacturing sales was the Capral Aluminium manufacturing facility at Rose Hill. They manufactured a range of products from aluminium and ingots. 
The site had a range of sale issues including flood affectations and site contamination. It also had bomb shelters that were built during WWII – at the time it was identified as a potential target. The reason was that it manufactured aircraft propellers for the war effort. It made it an interesting protracted sale process. 
The property has now been redeveloped and is a premier Industrial business park owned by the Goodman Group. 
What are the ingredients to being successful in your job? 
Understanding the clients’ needs, and being able to manage issues. The role is more than a sales role – it involves problem solving, providing counsel as well as negotiation skills. 
What aspects of your role do you enjoy the most? 
Re-selling properties for clients – particularly those that are making a healthy profit. 
Where would you invest a spare $750,000? 
I would leverage it into property and invest a small portion into equities. 
Which football team do you support? 
Waratahs in rugby, Manly in NRL and Swans in AFL.
What’s your favourite app or techno gadget? 
My iPad. 
Follow on Twitter or LinkedIn (provide details): 
Twitter: <a target="_blank" href="https://www.twitter.com/jllaustralia">www.twitter.com/jllaustralia</a>
LinkedIn: <a target="_blank" href="https://au.linkedin.com/pub/john-macree/55/433/3b0">https://au.linkedin.com/pub/john-macree/55/433/3b0</a>
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In profile: Jones Lang LaSalle’s head of NSW sales and investments John Macree

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Marketing for the $60 million Botanic Lane Cove project in Sydney is well underway with 40% of the apartments having sold since its launch in late February.
The <a target="_blank" href="https://botaniclanecove.com.au/">79-apartment project</a> is a joint venture between White Private, builder developer Icon Construction and the Greenbush Group.
Located less than <a href="/news">10 kilometres</a> from the Sydney CBD, Botanic offers one-, two- and three-bedroom apartments as well as seven penthouses.
<img src="/images/stories/2013/03/botanicmarch19four.jpg" width="470" height="217" alt="botanicmarch19four">
One bedrooms start from $500,000 and range internally in size from 55 square metres to 66 square metres.
Two-bedroom apartments range in size from 88 square metres to 93 square metres and start from $831,000.
<img src="/images/stories/2013/03/botanicmarch19one.jpg" width="470" height="228" alt="botanicmarch19one">
The three-bedroom apartments start from $1,107,000 and range in size from 110 square metres to 143 square metres.
The seven penthouses range in size from 112 square metres to 143 square metres and range in price from $1.35 million to $1.7 million.
Peter Walsh of White Private says four of the penthouses have sold to local buyers and the majority of the purchases they have seen so far are owner-occupier.
The apartments boast oak floors and Carrara marble in both the kitchen and bathrooms.
<img src="/images/stories/2013/03/botanicmarch19three.jpg" width="470" height="207" alt="botanicmarch19three">
The project is designed by Mijollo International with interiors designed by SJB Interiors.
Walsh says the name Botanic was chosen due to the complex being bound by large mature trees and landscaped gardens.
"We wanted to achieve a sense of garden by tying in the name," says Walsh.
<img src="/images/stories/2013/03/botanicmarch19two.jpg" width="470" height="240" alt="botanicmarch19two">
Nearby is an aquatic centre and gym and the <a target="_blank" href="/news">Lane Cove</a> Village is just around the corner, comprising more than 200 shops, services and dining options.
Icon Constructions will start work in June this year and the project is expected to be completed by the end of 2014.
Located at 14-20 Finlayson Street, the land site is currently home to a <a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-uniting-church-for-auction-with-%24125000-hopes/2013031759749">Uniting Church</a> and three residential houses.
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Botanic Lane Cove one-bedders priced from $500,000

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The Newcastle residential real estate market strengthened in the last six months of 2012 with rising prices and rents attracting growing enquiries from out-of-town investors.
Interest has been particularly strong among investors for cheap inner-city units offering rental yields of between 5% and 7%.
<a href="https://www.propertyobserver.com.au/new-south-wales/newcastle-fringe-suburbs-attracting-first-home-buyers-and-investors-with-many-options-under-%24300000-htw/2012120258247" target="_blank">Market momentum</a> was also maintained by a stable presence of first-home buyer despite the withdrawal of the $7,000 grant at the end of September last year.
“Despite somewhat softer conditions in the Hunter Valley’s coal industry, record trade in the Newcastle port is driving the employment market in Newcastle, with infrastructure investment in the City positioning it as one of the most robust regions in NSW,” says PRDnationwide research analyst Oded Reuveni-Etzioni.
In December last year, the NSW announced a new master plan for the Newcastle CBD with the aime of revitalising the Newcastle City Centre.
“Marked by the termination of the railway at Wickham the plan prescribes a replacement of the existing railway line with a pedestrian-friendly corridor and is expected to stimulate investment in the CBD,” says Reuveni-Etzioni.
PRDnationwide records the <a href="/news">Newcastle</a> median house price up 9.3% $405,000 and the unit price up 6.4% just under $350,000 for the 2012 calendar year.
Both house and unit prices in Newcastle have been trending up since around June 2009 – though the progression has not been smooth, as the graph below prepared by PRDnationwide shows.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/newcastlemarch19graph.gif"><img src="/images/stories/2013/03/newcastlemarch19graphthumb.gif"></a>
Final figures are not yet compiled for the six months to December 2012, but PRDnationwide expects they will mirror the December 2011 period when around 1,300 house and 489 unit sales were recorded.
Preliminary figures record 1,649 transactions for the year – 1,235 houses and 414 units sold.
PRDnationwide figures record that 40% of house sales and 68% of unit sales in the region where for properties in the inner city suburbs.
“Comparing the December 2012 unit price point with the corresponding period in 2011 revealed a 7% decline in units selling between $300,000 and $399,999 along with an increase in the size of price brackets between $400,000 and $800,000. The demand for luxury apartments priced $800,000 plus declined by two per cent from 2011,” says Reuveni-Etzioni.
Apartments priced below $300,000 made up 25% of unit sales over the year and yielding “attractive” rental returns of between 5% and 7% and proved attractive to investors.
Current investor listings include a <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-newcastle-109446051">two-bedroom Quest serviced apartment on Hunter Street</a> seeking offers above $299,000 and marketed by Josh Mana of Raine &amp; Horne – Newcastle. The apartment offers guaranteed income of $1,653 per month – a gross yield in excess of 6%.
Another inner city listing is a one-bedroom, <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-newcastle-113209003">sixth floor apartment on Watts Street</a> being offered for $273,000 by Christian Booth of Robinson Property – The Junction. The property is rented at $325 per week – a yield of 6.2%.
 
<hr class="system-pagebreak">
Reuveni-Etzioni says realistically-priced off-the-plan stock also experienced strong uptake from investors and first home buyers, with first time buyers taking advantage of the $15,000 first home buyers grant and stamp duty exemptions.
“There are currently approximately 250 units under development in the inner city, with a large portion of units sold off the plan. This level of development is considered adequate when the growth in demand for units is taken into consideration,” he says.
PRDnationwide records a Newcastle rental vacancy rate of 1.7% for January 2013.
Rental vacancy figures from the Real Estate Institute show a higher vacancy rate of 2.5% for February (2% for January), but still well below the balanced market figure of 3% - indicating a market that favours landlords over renters.
According to local council area figures, two-bedroom unit rents rose 7.3% over the year to $346 per week while three-bedroom house rents increased by 5.4% to $400 per week.
“Of particular interest was growth in rents for single bedroom apartments, with a median price increasing by 10.4% over 2012. Not surprisingly, the inner city represented 50% of single bedroom dwellings within the LGA,” says Oded Reuveni-Etzioni.
He says the strong performance of the Newcastle property market following the GFC “was initiated by first home buyers and upgraders, with investor activity increasing in 2012”.
“In the second half of the year first time buyers’ activity remained stable despite the cancellation of incentives for existing dwellings.
“A growing number of second-home buyers purchased units as a medium-term investment with an outlook to use it for their main residence in the long term.
“Investors were induced back into the market by rising rent prices and a decline in the cost of funding. Anecdotal evidence points to a growing number of out-of-town enquiries, with particular interest in inner city apartments,” says Reuveni-Etzioni.
In the detached housing market, the suburb of Merewether recorded the highest number of sales for the period (85 sales) followed by New Lambton (79 sales) with the $900,000 plus bracket almost doubling to represent 13% of the market in the second half of 2012.
Photo by Michael Coghlan, courtesy of Flickr.
 
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Investor interest rising as sub-$300,000 Newcastle inner-city units offer 5% to 7% yield potential: PRDnationwide

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It is quite apparent that many have already taken the Global Financial Crisis (GFC) for granted despite it being the largest and sharpest capitulation in global markets in over twenty years.
What many forget is that a large number were still at school when Australia experienced the recession “we had to have” in the early 1990s. Top-end property markets were the hardest hit as to the personal losses so this would explain why this demographic market remains lethargic to say the least.
The GFC brought about a re-calibration of asset prices which divulged an over-extension of debt which then saw for the first time in Australia for many years a complete turnabout where consumers cut back on spending and therefore lifting their savings.
The same applied for businesses that embarked on radical cost-saving initiatives combined with in-depth business analysis to seek new markets by establishing aggressive new online platforms.
This new platform has resonated further where consumers are now all over online shopping as they look for savings – the mantra “greed is good” is no longer the case and won’t be for some considerable time either.
The world for businesses and consumers dramatically changed when Apple released their iPad on April 3, 2010 – that insatiable desire to acquire has re-invented consumer behaviour.
The online superhighway has progressively moved from two lanes to ten lanes and growing fast to such an extent that the way we do business today in the real estate industry will bear no resemblance to the way we do business in 2018.
With the benefit of hindsight in years to come the GFC will be looked back on as a renaissance period that modernised business platforms where technology emerged not just as an add-on but rather the key ingredient to guarantee business longevity.
Simply put: in this modern age if your business is not online-savvy the chances of survival are terminal.
The GFC has proved to be an enormous learning curve – where today businesses are now paying enormous catch-up.
What we are seeing anecdotally is consumers changing their behavioural spending patterns to such an extent that it is not that far off when the majority of vendors spend more on online than they do in print.
When that happens the number of real estate agencies in Australia will reduce by a quarter given that 25% (that’s conservative) are IT illiterate.
On another matter 2012 was an abysmal year for Australia’s construction industry with more than 80 firms entering administration – although just the one <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-building-inquiry-recommends-construction-trusts-to-protect-sub-contractors/2013012859005">inquiry</a>.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-building-inquiry-recommends-construction-trusts-to-protect-sub-contractors/2013012859005" title="NSW building inquiry recommends construction trusts to protect sub – contractors."></a>The Housing Industry Association (HIA) report for the December quarter 2012 – “Total residential building volumes in the final quarter were up by 1.7 percent on the previous quarter.” In 2013 it is already looking <a target="_blank" href="https://www.propertyobserver.com.au/commercial/construction-industry-to-contract-4-over-next-three-months-and-no-improvement-long-term-bci/2013031259831">quite different</a>.
<img src="/images/stories/2013/03/simeonmarch18one.jpg" width="470" height="291" alt="simeonmarch18one">
<img src="/images/stories/2013/03/simeonmarch18two.jpg" width="470" height="299" alt="simeonmarch18two">
A slight improvement in the number of new listings on the market for Mosman houses this week although well down on the same time last year.
The same can be said for Mosman apartments where we believe households are consolidating and paying down debt levels with no future plans of taking on more debt.
A valuable lesson learnt from the GFC – on top of that concerns for employment remain first and foremost.
It is also interesting to note that First Home Buyers remain in decline where it remains at 14.9% for the second consecutive month. This is the lowest since June 2004 – the long-run average is 20.1%. It is obvious that our record-low cash rate is failing to attract this market demographic.
<a title="Investors scramble as rental crisis bites" href="https://www.smh.com.au/money/investing/investors-scramble-as-rental-crisis-bites-20130312-2fxj1" target="_blank">Investors scramble as rental crisis bites</a> the number of suburbs where it is cheaper to buy a home on a variable rate mortgage than to rent rose to 494 in December, up from 388 two months earlier. What we are seeing is First Home Buyers struggling to build a deposit due to climbing rents and a construction industry going into reverse: a recipe for disaster.
Source: Domain Property Monitors
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 141 • Number of houses on the market last week – 103 • Number of houses on the market this week – 108 • Number of apartments on the market this time 2012 –114 • Number of apartments on the market last week – 76 • Number of apartments on the market this week – 78
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 17 • Number of houses on the market last week – 17 • Number of houses on the market this week – 15 • Number of apartments on the market this time 2012 – 24 • Number of apartments on the market last week – 15 • Number of apartments on the market this week – 12
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 19 • Number of houses on the market last week – 14 • Number of houses on the market this week – 12 • Number of apartments on the market this time 2012 – 64 • Number of apartments on the market last week – 43 • Number of apartments on the market this week – 41
For this week’s sales in Cremorne real estate, Cremorne Point real estate, Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate, <a target="_blank" href="https://www.rwm.com.au/news/">click here</a>.
Robert Simeon is a director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Property consumers changing their behavioural spending patterns to online: Robert Simeon

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Sydney is leading a national property market recovery which will stimulate surrounding areas, according to John McGrath in his Autumn market report.
McGrath says the primary trends Sydney has seen over the past few months have been an increase in investors, particularly self-managed super funds, fewer first home buyers and the slow return of downsizers and retirees.
McGrath is predicting strong competition in the mid-high range market this year, compared to last year when there was more activity in the sub-$1 million market. Clearance rates are up and more people are attending auctions suggesting they just want to “get on with it”.
A retreat of first-home buyers is giving investors more room in the lower end of the market while the upper end of the market is being driven by downsizers and “the Chinese aristocracy”.
He says as share prices rise so too will personal wealth, meaning many downsizers who put off moving post-GFC may now but up.
Offshore buyers are tipped to increase with the introduction of the ‘significant investor visa’, which enables fast-tracked residency for those who invest more than $5M in business, government bonds or managed funds, “will no doubt have a flow-on effect to harbourside/beachside property and new apartments”.
He says new capital spending will be another boost for the broader Sydney market, with projects such as the Inner West Light Rail extension and the North West Rail Link likely to stimulate price growth and yields.
His top tips for Sydney include <a href="/news">Erskineville</a> and surrounds, <a href="/news">St Ives</a> and <a href="/news">Forestville</a>.
He says Erskineville is “where all the smart money that can no longer afford Surry Hills is going”. The university and the hospital drive strong rental demand in the area.
He recommends St Ives for purchasing a family home with $1 million netting buyers what they could normally only buy for $1.6 million in trendier suburbs.
“Believe me when I say that it’s hard to go past this area for great family living with its own village,” McGrath writes.
In St Ives, <a href="https://www.realestate.com.au/property-house-nsw-st+ives-112958859" target="_blank">a four-bedroom house</a> (pictured below) on 1,144 square metres has been listed for sale at more than $900,000. The single-storey home last traded for $867,000 in 2009.
<img src="/images/stories/2013/03/stivesmarch15one.jpg" width="470" height="351" alt="stivesmarch15one">
And a <a href="https://www.realestate.com.au/property-house-nsw-st+ives-112910447" target="_blank">four-bedroom single storey house</a> (pictured below) on 923 square metres which last traded $630,000 in 2006 has been listed for more than $900,000.
<img src="/images/stories/2013/03/stivesmarch15two.jpg" width="470" height="352" alt="stivesmarch15two">
He says although Forestville is a forgotten suburb it ticks all the boxes for great lifestyle and capital growth.
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St Ives the family-friendly $1 million Sydney residential prospect: John McGrath

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The arrival of the Chinese-based Greenland Group to Australian shores is an auspicious occasion.
The group will build Sydney's tallest residential high-rise on the former Water Board site after paying around $100 million to the loss-taking Canada-based Brookfield Asset Management with whom it will, in a face-saving arrangement, reportedly team up to assist in the development of the tower.
In a statement to Dow Jones, the Chinese group put the value of the residential and hotel project at $480 million $497 million.
The project, to be called Sydney Greenland Center.
The Bathurst Street site has stage-one development approval for 400 apartments over up to 70 levels reaching 240 metres high. In July last year Brookfield <a href="/news">unveiled the tallest residential tower plans at 240 metres</a>, beating off Meriton's 230-metre tall World Tower, which dates back to 2004. Any new tower such as the <a target="_blank" href="https://www.kannfinch.com/#/projects/115-bathurst-street">current Kann Finch concept</a> (pictured below) will appear considerably taller as it is built further up a ridge than World Tower. There are five office towers that are taller than World Tower.
<img src="/images/stories/2013/03/kannfinchmarch15one.jpg" width="300" height="848" alt="kannfinchmarch15one">
The 115 Bathurst Street/339 Pitt Street mixed-use project is on a 4,000-square-metre site, with a retail and commercial podium, which incorporates the adaptive reuse of its eight-storey heritage listed 1930s Pitt Street building, but the demolition of the 1970s brutalist style office block.
“The healthy and stable property market in Australia has given big confidence to investors,” Zhang Yuliang, chairman of Shanghai Greenland, said in the statement.
“New immigrants, including those from China, have boosted property purchase demand in the country and we expect it to be sustainable.”
Greenland, which ranks 483rd in the 2012 Fortune Global 500 list, has earned a reputation for landmark buildings highlighted just this week when the group accepted coveted prizes for Breathing Tower (pictured below), a 75-storey building in Wujiang, China.
<img alt="tattlemarch15one" height="570" width="380" src="/images/stories/2013/03/tattlemarch15one.jpg">
It took the prize in the tall buildings category, along with the competition's overall future projects, in the eleventh annual MIPIM Architectural Review Future Project Awards competition. 
The Future Projects Awards is chaired by Paul Finch, editorial director of the <a href="https://www.architectural-review.com/" target="_blank">Architectural Review</a>, who noted the envisaged building highlighted the trend in favour of energy saving, low carbon buildings continues, and the exploration of different geometries made possible by digital design tools.
It was deemed the clear winner showing a "confident control of form" and  given its mix uses demonstrated skillful integration.
Addressing China's poor air quality issue, the Breathing Tower will have a series of operable windows either side of the upper storeys of the office, hotel and residential tower, which will open into an atrium which has a ventilation system. Skidmore, Owings &amp; Merrill were the architects, ofcourse of Burj Dubai world tallest notoriety.
Since 1992, the state-owned Shanghai based group - which has the corporate tenet of “Greenland, create better life” has positioned itself to be 87th among the top 500 China enterprises.
Its construction projects are in 65 cities in 24 provinces of China.
Among its 17 extra-high landmark buildings currently being developed, three are listed among Top 10 extra-high buildings across the world. Bathurst Street will be another, knocking off Harry Triguboff's World Tower.
As well as its leading position in real estate industry, Greenland Group develops energy, including owing several coal mines in Inner Mongolia, Shanxi and Guizhou.
We know the Chinese love their brands, and apparently the brand “Greenland” has been certified as “Chinese Famous Brand” by the State Bureau of Industrial and Commercial Administration. 
Greenland Group's stated aim is to enter the Fortune 200 list by 2015.
The MIPIM Architectural Review Future Project Awards celebrate un-built or incomplete design projects, and are intended to showcase fine architecture and creativity, and the response to the client development brief. The only Australian entrant - among the 186 projects from 46 countries - was Stamford on Macquarie for Stamford Property Services.
Photos courtesy of Architectural Review and Kann Finch.
For more on the allure of Australian property to Asian buyers, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a> 
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Chinese breathing competitive life into Sydney high-rise scene

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{qtube vid:=GtDVjn_F1F0}   
In our Purchase or Pass segment this week we check out some of the finer details involved with choosing an investment property.
This week it’s <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-coogee-112901251">a two bed, two bath unit in a very small block of five</a> located 8.7 kilometres from the CBD and 500 metres from the local attractions. The unit features two balconies off the bedrooms and the lounge and is pretty large at 115 square metres. It’s situated on the ground floor at the rear of the block so is pretty quiet away from any traffic.
<img alt="coogeemarch15one" height="348" width="470" src="/images/stories/2013/03/coogeemarch15one.jpg">
Chris Gray: What are your thoughts on this?
Arthur Charlaftis: Well it’s quite a large unit for a  two bedroom unit, we always talk about being on a small block so I think that meets the criteria there. I was going to ask you what you thought about ground floor versus first floor.
Chris Gray: That’s a bit of a funny one. We quite often get some clients that say I have to get ground floor or I don’t want to be ground floor because they’re worried about people breaking in so maybe it depends on what suburb you’re in. But obviously some of the ground floor apartments are great because there are no stairs and sometimes you can get off into the back. I’m 50-50 on this one.
Arthur Charlaftis: Obviously the location on this one isn’t going to be too much of issue with the ground floor apartment.
Chris Gray: In the good suburbs I don’t think there’s too many problems these days.
Arthur Charlaftis: It presents well so there’s not much to do. So it depends on what type of investor you are for whether it makes sense for you to do this.
Chris Gray: Exactly. If you have the cash and you want to renovate you can’t really add any value but if you’re really stretching for $750,000, that’s a lot of money, then you can get something that’s really done up.
Arthur Charlaftis: Now tell me about the strata fees, $1,800 per quarter seems very high.
Chris Gray: Yes $1,800 per quarter is quite high. Quite often we’re looking at about $650. So it’s about three times as much. Our graphic of the cash flow here shows the cash flow on this one, assuming a rent of $750 per week, you’re going to be paying $7,200 in strata fees before all your other fees, so your net rent there of $31,800 there are more costs to come out of that. But if you’re only paying $650,000 you could have $36,000 so to me looking at 4.85% net return compared to 4.24%, there’s quite a difference there.
Arthur Charlaftis: So, on an investment basis I’d look at passing on this one.
Chris Gray: This unit ticks a lot of the boxes in that it is larger than most units and in a smaller block in a quiet location. However it’s all about the numbers and high strata fees can make it into an expensive investment. I would prefer an older apartment with lower strata fees and so for that reason I’m going to pass.
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Purchase or Pass? A Coogee apartment with high strata fees

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A four-bedroom Mosman house above Chinaman’s Beach, which sold for $3.05 million through McGrath Estate Agents prior to auction, was the top Sydney sale last week.
It was first listed for sale in August last year with an asking price of $3.3 million.
It last sold for $2.4 million in 2006 and previously for $1.15 million in 2000.
The two-storey, high-set house at the end of a cul-de-sac was advertised as having a master bedroom with a “resort-style” ensuite bathroom with water views and outdoor access.
According to RP Data, Mosman has a median sales price of $2.1 million with an average time on market of 92 days and average discounting of 11%.
The house was sold by Matthew Smythe of McGrath - Neutral Bay who had been giving a $2.9 million plus price guide.
The 60 year old house underwent a redesign by the architectural firm <a target="_blank" href="https://mosmandesignawards.com.au/2011/nominations/35-upper-fairfax-road">Atelier Haefeli</a> about three years ago.
The RP Data Top 10 sales last week were all in NSW:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/35_upper_fairfax_road_mosman_nsw_2088/4484342" target="_blank">35 Upper Fairfax Road, Mosman, NSW, 2088</a>, four-bedroom house, sold prior to auction on March 9 by McGrath Estate Agents for $3.05 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/1_albany_street_point_frederick_nsw_2250/5495682" target="_blank">1 Albany Street, Point Frederick, NSW, 2250</a>, five-bedroom house, sold prior to auction on March 9 by L J Hooker Terrigal for $2.95 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/18_govett_street_randwick_nsw_2031/5754429" target="_blank">18 Govett Street, Randwick, NSW, 2031</a>, four-bedroom house, sold at auction on March 9 by Ray White Double Bay for $2.95 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/36_pauling_avenue_coogee_nsw_2034/1931958" target="_blank">36 Pauling Avenue, Coogee, NSW, 2034</a>, five-bedroom house, sold at auction on March 5 by Raine &amp; Horne Bondi Junction for $2.625 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/53_francis_street_manly_nsw_2095/3979013" target="_blank">53 Francis Street, Manly, NSW, 2095</a>, four-bedroom house, sold prior to auction on March 9 by Cunninghams Property for $2.355 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/158_copeland_road_east_beecroft_nsw_2119/1351083" target="_blank">158 Copeland Road E, Beecroft, NSW, 2119</a>, four-bedroom house, sold at auction on March 9 by Century 21 Joseph Tan Real Estate for $2.26 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/34_park_road_hunters_hill_nsw_2110/3007794" target="_blank">34 Park Road, Hunters Hill, NSW, 2110</a>, four-bedroom house, sold at auction on March 9 by McGrath Hunters Hill for $2.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/18_windsor_street_paddington_nsw_2021/5277848" target="_blank">18 Windsor Street, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on March 9 by McGrath Estate Agents for $2.175 million
<a href="https://www.realestate.com.au/property-house-nsw-tamarama-113037495" target="_blank">2 Illawong Avenue, Tamarama, NSW, 2026</a>, three-bedroom house, sold at auction on March 9 by McGrath Estate Agents for $2.11 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/23/69_north_steyne_manly_nsw_2095/3981908" target="_blank">23/69 North Steyne, Manly, NSW, 2095</a>, three-bedroom unit, sold prior to auction on March 9 by Clarke &amp; Humel Property Manly for $1.98 million
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