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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Bellevue Hill has secured its highest sale for eight months.
It was at mid-week auction for $7.7 million.
The six-bedroom, six-bathroom Victoria Road was designed by Gergely &amp; Pinter Architects for the Stockland founder Ervin Graf, who started building fibro houses in the western suburb of Sefton in the early 1950s.
{yoogallery src=[images/stories/2013/03/march14bellevue]}
In the late 1950s Graf took over the smallest company on the stockmarket, Stocks and Holdings, which became the property giant, the Stockland group. 
Graf had bought the Bellevue Hill block in 1961 and had the house built in the early 1990s. It was held by his widow, Kitty until 2003.
In his last BRW Rich List inclusion, Graf's fortune was estimated at $105 million, accrued after emigrating from Hungary. 
Auctioneer Damian Cooley said there were four registered bidders at the auction <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-112911647" target="_blank">held for Agency by Alison Coopes and Savills International</a> agent Robert Lowe.
The three-level residence,  built 21 years ago, last traded before its latest renovation for $5,715,000 in March 2011 when sold by Marc and Ann-Marie Albert, and before for $3.95 million in March 2003.
In 2010 Alison Coopes negotiated a $6.4 million sale of the property with Jun Qiu, a Chinese buyer, but the purchase was blocked by the Treasury's foreign-investment division.
The grandeur starts with its marble-floored foyer with a seven-metre-high ceiling, lift and stairwell that features a double-height stained-glass window designed by artist Penella Fesq.
The suburb's median house price <a href="/news">fell 12% over 2012, figures compiled by the REINSW reveal</a>.
The median house price as of December 2012 is $2,945,000 compared to $3,345,500 in December 2011.
The $7.7 million sale is the highest sale in Bellevue Hill since last may when the Haifer family sold Coppernoll, the 1920s Kambala Road residence for $9.8 million. It sold off-market to the Lederer family having been extensively renovated in 2003 after it was traded for $2.85 million in 2000. 
The Kambala Road property was briefly listed with $10 million hopes in 2004. The 1,347-square-metre property has a wide street frontage and security gates that open to a driveway down to two double garages and a porte cochere. The rear comes with a wide covered terrace overlooking the swimming pool and level lawn.
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jchancellor-FAypfDUnLy

Bellevue Hill secures $7.7 million house sale

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The metamorphosed Butterfly House, on Military Road, Dover Heights, has been listed by BHR Estate Agents Edgecliff.
Offers close May 2 through Daniel Baran and Reece Coleman who are expecting above $6.5 million for the house, which Baran sold in late 2010 for $5.05 million.
Its been fully renovated since purchase.
Its now being marketed as one of Sydney’s most extraordinarily unique and beautiful homes - on the market after receiving the final finishing touches.
<img alt="butterflymarch14one1" src="/images/stories/2013/03/butterflymarch14one1.jpg" width="470" height="506">
"More than a decade after the well-known Dover Heights residence broke new ground with its curved walls and glass structure, the home is complete with the most advanced home automation, a world-class cinema and fittings that give this property international qualities rarely seen in this country," Baran says.
Spread over six split levels, the location has views over both the ocean and harbour.
Five bedrooms are in the eastern wing while the living areas take full advantage of vistas towards the Opera House, city skyline and Bridge.
The residence’s north facing aspect allows light to flow throughout the home, along with the natural ventilation system.
<img alt="butterflymarch14two2" src="/images/stories/2013/03/butterflymarch14two2.jpg" width="470" height="313">
It was 1996 when the architect Ed Lippmann received a request to create a home with “no straight lines” - one he did not believe was serious but the client was a firm believer in feng shui, Chinese laws governing how spatial arrangement affects energy flow.
But he was also as visionary as Mr Lippmann. The plans, which took countless hours, created a residence never before built in Australia with no harsh angles or corners.
It is suggested the requirement for all glass panels to be curved even prompted glass manufacturing into new territory.
The home was built by 2005. “It’s not really a house,” Mr Lippmann says in the BHR marketing. “It’s a piece of sculpture that works as a house.”
“In terms of a house this is the most outstanding I’ve done as it doesn’t follow any normal structure,” he continues.
“This house changes the way the people inside it feel – it has an intangible quality that comes from the fluid shapes. There is no other house like it in Australia.”
The initial owner sold the home before final details were completed, and Mr Lippmann has worked with the current owner to complete the finishes in the home add such fixtures as the Crestron home automation, custom joinery and panelling before adding the gym, cinema room and final joinery in recent months.
He says the Butterfly House masterpiece is now complete.
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Metamorphosed Butterfly House at Dover Heights on market again

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The trendy, cosmopolitan inner Sydney enclave of Darlinghurst was the best performing Sydney suburb over 2012, according to latest quarterly report from the Real Estate Institute of NSW (REINSW).
Located just 3.2km from the CBD with its main thoroughfare being Oxford Street, house prices in Darlinghurst increased 21.2% over 2012 to a median of $1.057 million.
This was from a relatively small number of sales – 53 for the year.
Averaging just over one sale a week, it performed substantially better than <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-house-prices-up-61-over-2012-but-little-growth-in-the-western-suburbs-reinsw/2013030759770?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">the inner city Sydney market as a whole</a> which managed no price growth over 2012.
Bresic Whitney Darlinghurst agent Darren Pearce says the recent addition of the Hyde Park Plaza high-end apartments on College Street have added considerable real estate value to the Darlinghurst area.
Pearce said the Darlinghurst market is evenly split between owner occupiers and investors.
He adds that the suburb is still experiencing a growth spurt with the prestige, historic terrace house market currently fetching up to $1.3 million a property and beyond.
Last week Pearce sold <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-darlinghurst-112977127">this five-bedroom Darlinghurst terrace</a> on Liverpool Street, for $2.275 million. It last sold for $2.1 million in 2009 and for $350,000 in 1993, according to RP Data records.
In December last year, this four-bedroom terrace on Surrey Street (pictured below) sold for $1.59 million through Gary Sands of Di Jones Real Estate – Woollahra.
It last sold for $1.02 million in 2002, according to RP Data records.
{yoogallery src=[images/stories/2013/03/march14darlinghurst]}
Another recent terrace sale was a <a href="https://www.bresicwhitney.com.au/real-estate/id/property/9641/darlinghurst/187-palmer-street/#top" target="_blank">four-bedroom house on Palmer Street</a> which sold for $1.275 million through Dominic Kuneman and Brigitte Blackman of Bresic Whitney. It last sold for $680,000 in 1999.
Pearce expects the locality and culture of Darlinghurst to continue to drive strong interest in the area,
“The proximity to the CBD is certainly a major drawing point as well as the opportunity for people to indulge in the cafe lifestyle offered by the numerous social hubs in and around the area,” he says.
The north western suburb of Woodcroft experienced the second highest annual growth in house prices with a rise 15.5% to $485,000. followed by West Pennant Hills with a 15.4% increase in its median house price to $907,500.
The Top 25 performing Sydney suburbs over 2012 were*: 
<table cellspacing="0" cellpadding="0" border="0" style="width: 470px;">
<colgroup>
<col width="58">
<col width="130">
<col width="100">
<col width="107">
<col width="139">
</colgroup>
<tbody>
<tr height="20">
<td width="58" height="20">No.</td>
<td width="130">Suburb</td>
<td width="100">% increase</td>
<td width="107">No. of sales</td>
<td width="139">Median Price</td>
</tr>
<tr height="20">
<td height="20">1</td>
<td>Darlinghurst</td>
<td>21.2</td>
<td>53</td>
<td>$1,057,500</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Woodcroft</td>
<td>15.5</td>
<td>61</td>
<td>$485,000</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>West Pennant Hills</td>
<td>15.4</td>
<td>181</td>
<td>$907,500</td>
</tr>
<tr height="20">
<td height="20">4</td>
<td>Summerland Point</td>
<td>15</td>
<td>60</td>
<td>$325,000</td>
</tr>
<tr height="20">
<td height="20">5</td>
<td>Spring Farm</td>
<td>13.1</td>
<td>55</td>
<td>$441,000</td>
</tr>
<tr height="20">
<td height="20">6</td>
<td>Thirlmere</td>
<td>12.8</td>
<td>52</td>
<td>$437,500</td>
</tr>
<tr height="20">
<td height="20">7</td>
<td>North Curl Curl</td>
<td>12.1</td>
<td>70</td>
<td>$1,250,000</td>
</tr>
<tr height="20">
<td height="20">8</td>
<td>Berowra Heights</td>
<td>10.6</td>
<td>56</td>
<td>$648,000</td>
</tr>
<tr height="20">
<td height="20">9</td>
<td>Campsie</td>
<td>10.4</td>
<td>71</td>
<td>$740,000</td>
</tr>
<tr height="20">
<td height="20">10</td>
<td>Buff Point</td>
<td>10.3</td>
<td>56</td>
<td>$310,000</td>
</tr>
<tr height="20">
<td height="20">11</td>
<td>Oatlands</td>
<td>10.2</td>
<td>58</td>
<td>$807,500</td>
</tr>
<tr height="20">
<td height="20">12</td>
<td>St Ives Chase</td>
<td>9.8</td>
<td>50</td>
<td>$990,000</td>
</tr>
<tr height="20">
<td height="20">13</td>
<td>Seaforth</td>
<td>9.6</td>
<td>115</td>
<td>$1,425,000</td>
</tr>
<tr height="20">
<td height="20">14</td>
<td>Lisarow</td>
<td>9.6</td>
<td>71</td>
<td>$455,000</td>
</tr>
<tr height="20">
<td height="20">15</td>
<td>Bargo</td>
<td>9.4</td>
<td>74</td>
<td>$419,000</td>
</tr>
<tr height="20">
<td height="20">16</td>
<td>Kenthurst</td>
<td>9.2</td>
<td>51</td>
<td>$1,272,000</td>
</tr>
<tr height="20">
<td height="20">17</td>
<td>Wyong</td>
<td>9.1</td>
<td>71</td>
<td>$330,000</td>
</tr>
<tr height="20">
<td height="20">18</td>
<td>Guildford</td>
<td>8.8</td>
<td>206</td>
<td>$468,000</td>
</tr>
<tr height="20">
<td height="20">19</td>
<td>Bella Vista</td>
<td>8.6</td>
<td>97</td>
<td>$890,750</td>
</tr>
<tr height="20">
<td height="20">20</td>
<td>Botany</td>
<td>8.4</td>
<td>55</td>
<td>$835,000</td>
</tr>
<tr height="20">
<td height="20">21</td>
<td>Campbelltown</td>
<td>8.3</td>
<td>112</td>
<td>$325,000</td>
</tr>
<tr height="20">
<td height="20">22</td>
<td>Tumbi Umbi</td>
<td>8.3</td>
<td>89</td>
<td>$396,000</td>
</tr>
<tr height="20">
<td height="20">23</td>
<td>Canley Heights</td>
<td>8.1</td>
<td>119</td>
<td>$465,000</td>
</tr>
<tr height="20">
<td height="20">24</td>
<td>Ruse</td>
<td>8</td>
<td>72</td>
<td>$356,250</td>
</tr>
<tr height="20">
<td height="20">25</td>
<td>Greenacre</td>
<td>7.7</td>
<td>202</td>
<td>$560,000</td>
</tr>
</tbody>
</table>
Source: REINSW
*Suburbs which recorded less than 50 sales for the year were not included.
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gdwyer-vyxhMDDW5L

Darlinghurst tops the 25 best performing Sydney suburbs in 2012: REINSW

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The Sydney rental market swung even further in favour of landlords in February with the overall metropolitan vacancy rate tightening from 2.2% to 1.9%.
The rental market tightened noticeably in the outer suburbs (more than 25km from CBD) and the middle suburbs (10-25km from CBD), which both recorded a 0.4% reduction in their vacancy rates to 1.8% and 2% respectively, according to the 2013 Real Estate Institute of NSW (REINSW) Vacancy Rate Survey.
The vacancy rate in the inner suburbs (0-10km from CBD) was unchanged at 2%.
“The residential rental market has contracted during February, in line with our expectations,” said REINSW president Christian Payne.
“The market will continue to tighten due to the lack of supply caused by the Government’s failure to provide appropriate incentives to invest in the property market.
Since July 1, the NSW government has provided investors and other non-first home buyers with a $5,000 grant under its  <a href="https://www.osr.nsw.gov.au/benefits/grant_scheme/" target="_blank">NSW New Home Grant Scheme</a> available to homes bought off the plan or newly built, with a value up to $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
This replaced the far more generous <a href="https://www.propertyobserver.com.au/residential/nsw-treasurer-mike-baird-defends-timing-of-changes-to-home-buyer-handouts/2012061755150" target="_blank">NSW home builder bonus, </a>which offered potential savings of $22,490 under stamp duty exemptions for new homes not exceeding $600,000 and vacant land not exceeding $400,000. 
The scrapping of this scheme was announced on June 12 last year given investors and owner-occupiers just 18 days to finalise their off the plan purchases.
“This dire situation will not resolve itself. We need action today from the government to address the inadequate, expensive and complex planning system, and an inequitable property tax regime, " says Payne.
“If not remedied, the crisis will continue to have significant negative impacts on the future prospects of NSW both economically and socially,” Payne said.
 
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lschlesinger-FZcF9M3vE6

Sydney rental market tightens to 1.9% vacancy rate with warning of "dire" economic consequences

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The developers of the Pacific Bondi Beach complex are to combine two penthouses and market it as a $25 million penthouse offering.
Spanning about 600 square metres with 40 metres of beach-facing frontage, the decision creates Australia’s highest-priced apartment.
It has been variously reported that seven or nine of the 19 lighthouses luxury apartments have pre-sold, at prices ranging from $3 million to $10.5 million.
<img height="258" width="470" src="/images/stories/2012/09/pacificbondi.jpg" alt="pacificbondi">
On <a target="_blank" href="https://www.propertyobserver.com.au/developments/pacific-bondi-beach-buyers-riding-the-property-wave-through-to-the-2015-tide/2012090956465">its September launch </a>last year it was reported that five of the 19 penthouses sold, with a European buyer paying $9 million, a Hong Kong expatriate paying $10.3 million and a local buyer $10.5 million.
A further release of three, priced from $8.1 million to $15 million through CBRE and McGrath, occurred recently under instructions by the developers <a target="_blank" href="https://www.pacificbondibeach.com.au">Eduard Litver of Capit.el Group and Allen Linz of Rebel Property Group</a>.
<img height="234" width="470" src="/images/stories/2012/09/bondipac2.jpg" alt="bondipac2">
Lighthouses that face away from the beach have sold at prices reflecting about $16,000 per square metre.
But prices for beach-facing stock has fetched $45,000 per square metre.
<img height="283" width="470" src="/images/stories/2012/09/bondipac3.jpg" alt="bondipac3">
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Bondi Beach's $25 million penthouse price hopes

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More than 300 people attended the weekend launch by Mirvac of the latest offering of its Harold Park development at Glebe.
Stage two of the Eden development was put to market with some 60% of the terraces and apartments sold.
Gelatissimo gelato, organic food from the Veggie Patch Van and freshly brewed T2 tea and espresso coffee was on offer at the display suite, located at the corner of Ross Street and Wigram Road, Glebe.
<img src="/images/stories/2013/03/haroldparkmarch11one.jpg" width="470" height="342" alt="haroldparkmarch11one">
One-bedroom apartments started at $525,000. There were 27 one-bedders on offer ranging from 50 square metres to 75 square metres; 33 two-bedders (75-100 sq m) from $830,000; five three-bedders (105-125 sq m) from $1,325,000 and nine three-bed terraces (165-180 sq m) 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 infill housing development with construction on the first precinct, Locamo, currently under way. The Harold Park master-plan allows for 1,250 dwellings with a 208,000 square metre network of landscaped parks.
<img src="/images/stories/2012/11/eden.jpg" width="470" height="551" alt="eden">
Mirvac’ s residential chief executive, John Carfi, told The Australian Financial Review there had been a surge of interest in the project.
“When you are buying off-the-plan it is always encouraging to see the development under construction,” he said.
<a href="https://www.propertyobserver.com.au/new-south-wales/no-false-start-as-mirvac-secures-eden-harold-park-terrace-sellout/2012111257768" target="_blank">The weekend sales follow the success of the initial offering last November</a>.
The release of apartments in the first of the two eight-level Eden buildings now sits at 70% sold off-the-plan, with the release of the second building, with 74 terrace homes and apartments, brought forward.
"I think Glebe was a little overlooked before, as there wasn't a whole lot of quality homes available," Mirvac development director Stuart Penklis told Fairfax Media.
"I liken it to when we built Raleigh Park in Kensington, on the site of the old cigarette factory. We put in quality product and parks, and got rid of the ugly factory and we saw a spike in property values, making it a much more desirable suburb."
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Sales at Mirvac's latest Harold Park Eden complex gallop along

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Soccer star Mark Schwarzer and his wife, Paloma, have leased Boongarre, their Watsons Bay property, but there's also unconfirmed whispers it has been sold.
It became available for rent at $3500 a week last year when the couple, who are staying in Britain, tried unsuccessfully to find a buyer for <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/socceroos-goalkeeper-mark-schwarzer-passes-watsons-bay-home-to-rental-market-after-buyers-play-hard-ball/2012070655451">the 1870s Watsons Bay harbourfront house</a>. It has been leased at around $3000 a week for a year apparently through Laing &amp; Simmons.
The five-bedroom Victorian weatherboard is best known for its association with the Stead family.
It was bought for £400 in 1917 by naturalist David Stead, when his daughter, the novelist Christina, was 14 years old. Christina, who left for London in 1928, used the locality in her books For Love Alone, The Man Who Loved Children and Seven Poor Men Of Sydney. It was built for John Harmer, a clerk in the water police office at Watsons Bay, by his father, William, a builder and ferry boat owner.
During the Stead ownership the property was known as Boongarre, derived from the name of an Aborigine, Bungaree, whom Governor Lachlan Macquarie described as the chief of the Broken Bay tribe.
Set on a 1,132-square-metre block, the five-bedroom house Schwarzer did the hard yards securing development approval for Tobias Partners alterations and extensions where he met some resistance when the likes of the US author Jonathan Franzen asked that the house be preserved insitu as a national heritage item.
No development works has been yet undertaken by Schwarzer, who bought it from the Pavlik family for $10.2 million in 2009.
The Pavlik family bought it from the National Trust in 1991 as it had been bequeathed by Stead's third wife, botanist Thistle Harris, best known as the author of Wild Flowers Of Australia.
The listing agent Brad Pillinger of Pillinger Property had been quoting $12 million-plus, but did not provide Property Observer with any update on any sale, which is presumably a delayed settlement sale given the 12-month lease arrangement.
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Soccer star Mark Schwarzer leases out Boongarre at Watsons Bay, with whispers it has been sold

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{qtube vid:=2xWlG8SPOhE}
A couple of weeks ago on our Purchase or Pass segment we featured a property which had a potential view loss and we still decided to purchase it. This week we check out another similar property and debate whether to buy it or not.
<img alt="purchaseorpassmarch8one" height="364" width="470" src="/images/stories/2013/03/purchaseorpassmarch8one.jpg">
Address: <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Maroubra/?adid=2010222973">9/34 Bona Vista Avenue, Maroubra</a>
Location: 10.9 kms from CBD
Beds: 2
Bath: 1
Parking: 1
Size: 71sqm incl car
Price: $600k est
Rent: $590/wk
It’s a two bedroom, one bathroom unit with undercover parking, 10.9 kms from the CBD. It’s in a small boutique block of nine and at the rear of the block there’s only one unit per floor and only a small common wall. It’s 130 metres to the beach. The unit is well maintained and has low strata fees of $560 per quarter. The block, like many in the street, is three stories high and the neighbouring property in front of the view is only 2 stories high.
Let’s decipher some of the real estate language to see exactly what it means.
Chris Gray: If it’s block of 9 with only one unit at the back what does that mean?
Charles Tarbey: From a developer’s point of view you’ll look at whether there’s too many apartments in the complex. You look at whether there are 10 on one floor because it does change the dynamics of the building. I know I’d rather live in a building with a lot less number of apartments and a lot more owner-occupiers in the block. And a lot fewer people on the same floor that I have to deal with, especially if there are elevators or stairs to navigate. From a privacy issue it’s better too.
Chris Gray: I think the way this operates is you come in from the main entrance at the front and that’s access to six. Whereas if you’re in the back part that’s only three units so you’re not getting doors crashing and rest of it. It’s a bit more of a peaceful life.
Charles Tarbey: It is more of a peaceful life but looking at the size of that property, 71 square metres the entire block would fit in my front yard in the Blue Mountains. You have to get used to the suburbs.
Chris Gray: Undercover space versus garage, do you think it makes a difference?
Charles Tarbey: It makes a bit of a difference but in those areas just getting off-street parking is very good, so if you can take the property off the road a car-port is really pretty sound.
Chris Gray: If you look at the floor plan, 71 square metres including the garage so more like 50 square metres, when you’ve got no hallways you actually look at the size of the bedrooms, they’re both double size and a loungeroom, it’s actually not too bad.
Charles Tarbey: I guess the bedrooms would come off the loungeroom so you’re basically walking into the whole thing. My biggest concern is you’re really paying for an outlook. So what happens if they decide to build bigger or higher than you down the road and they block out everything from there. That’s definitely a possibility because that’s happening a lot now.
Chris Gray: Because you haven’t got a big unit, you haven’t got big balconies, you haven’t got a big anything, you’re actually going to be paying that price for the view so if you lose it potentially the property will go down in value.
Charles Tarbey: There are a lot of properties that are hidden. I spoke to a lady at security at Qantas, strange place to talk real estate, but she bought the house in Hurstville and that’s really taken off. And I said yes because that’s a hidden gem. I speak to a lot of agents, I spoke to an agent today and he’s telling me the apartments there are going crazy at $400,000 to $800,000. And that’s a magnificent area. You’ve got water views in a lot of areas, you’re away from the city. I mean why would you stretch and pay a lot of money for a small apartment when you can get that something just that bit bigger in a quieter area.
Chris Gray: So given there’s three storeys pretty much across the whole street and the neighbour is two stories, would you buy that or take a pass.
Charles Tarbey: I think there are plenty of other places to buy.
Chris Gray: For me this is a very tough question – the unit would have had the view from the day it was built. More owners are looking at developing buildings these days so there’s a chance someone is going to build up a level, it might even be me, so I’d be trying to target that two level one next door. If the property was very large, had a great balcony or something else unique about it I might still buy it. But as it hasn’t I’m going to pass for the moment.
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Purchase or Pass? A Maroubra room with a potential loss of view

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Property prices on the east coast are expected to rise by between 5% and 10% over 2013 as part of an overall turnaround in the property market, according to John McGrath.
Strengthening economic conditions overseas, falling mortgage rates, improving business and consumer confidence, low unemployment, low inflation and growing rental yields all bode well for the property market in Australia, says McGrath, CEO of McGrath Estate Agents, in his Autumn report.
He says east coast property prices are improving with certain areas receiving a noticeable uptick and people are sensing that the bottom of the market has been reached.
Most notable for the east coast region is a rise in activity at the upper end of the market, which has been “stagnant for several years”.
He says Sydney is the best performing market with positive signs also being seen in Brisbane.
Across the east coast, McGrath is predicting 5% to 10% growth in all major markets.
“In a recovery, confidence is key. The GFC had an impact on Australians’ confidence and while the property market has presented fantastic opportunities for some time, many have been slow to respond, preferring to wait until the market has ‘found its bottom’,” McGrath writes.
“This now appears to be changing.”
He says the US and Europe appear to have stabilised while the ASX All Ordinaries Index increasing 25% since June will give a boost to the top end of the market.
McGrath says interest rate cuts have boosted consumer confidence, which he says will provide strength to the lower end of the market.
A Coalition win at the federal election, which looks increasingly likely, will provide further confidence for corporate Australia.
Though there have been talks of the end of the mining boom, McGrath says Australia will continue to reap the rewards for some time, especially as the Chinese economy is set to grow by 8% this year.
He says rising home loan applications are a key indicator of an improving market and notes that mortgage broker AFG, have reported a 24% increase in applications in January while between 35% to 50% of loans in NSW and Queensland are going to investors.
“The investor trifecta of cheap money, rising rents and price growth is bringing them back in droves. Cash and term deposits are far less attractive and there’s continuing strong interest in purchasing via self-managed super funds,” McGrath says.
“This year will be the turnaround year. Those who get in first will reap significant rewards as they ride the wave of price growth from the bottom,” McGrath writes.
“As prices continue to rise, we’ll see a surge of confidence and ‘fear of missing out’, which will stimulate continued investment over the next 3-5 year cycle.”
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East Coast property prices could rise 10% in 2013: John McGrath

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Celebrating its 50th year, Meriton Apartments' origins can be traced back to 1963 when clerk Harry Triguboff built his first block of units in the Sydney suburb of Tempe.
It was a two-storey walk-up block of eight on Smith Street.
<img alt="triguboffmarch8one1" height="351" width="470" src="/images/stories/2013/03/triguboffmarch8one1.jpg">
Triguboff, in partnership with Thomas Gluck, paid £3400 for the land holding just close to the Ikea store that dominates the precinct.
Within eight months, the block of flats had sold for £25,500.
<img alt="triguboffmarch8two2" height="351" width="470" src="/images/stories/2013/03/triguboffmarch8two2.jpg">
His second development followed in Gladesville in 1968 where on Meriton Street, he built a block of 18 units which gave rise to the name of the company he registered in 1968. It's not known when he was first dubbed "Highrise Harry."
It arose because Triguboff has evolved into one of Australia's most successful property developers completing an estimated 50,000 residential dwellings.
Triguboff has concentrated on the Sydney market with the occasional foray into the Gold Coast and, more recently, Brisbane.
In 2004, Meriton completed the construction of World Tower, Sydney's tallest residential apartment building.
The Smith Street block sold again in 1969 for $59,500 and was turned into a strata block in the 1980s after being traded at $240,000 in 1982.
<img alt="triguboffmarch8three3" height="351" width="470" src="/images/stories/2013/03/triguboffmarch8three3.jpg">
The last unit sale in the Smith Street block was a one bedroom $245,500 last year. The 31-square-metre unit had first sold in 1988 at $55,000, reflecting 6.4% annual growth. It was then available for rent at $320 a week, reflecting a 6.7% gross yield.
The block's highest sale was $352,500 in 2010. It was a 52-square-metre two bedroom unit first sold in 1985 for $50,000, thereby reflecting 8.1% annual growth over the 25-year period.
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