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?

It seems Andrew Winter and his team may have done too thorough a renovation in Wollongong, as the owners decided just before auction to withdraw the property from sale and move back in.

<img alt="newdapto" height="353" src="/images/stories/2013/02/newdapto.jpg" width="470" />

&quot;They did too good a job,&quot; says listing agent Michele Lay of Ray White of the Selling Houses Australia team. &quot;If you see it on Selling Houses Australia you&#39;ll see how beautifully it came up.&quot;

The episode featuring the Wollongong house aired on Wednesday, and the auction was supposed to take place in September last year. The house was on the market for some months last year, says Lay.&nbsp;

The marketing had said &quot;With a realistic vendor and all the hard work done for you; this house MUST BE SOLD&quot;.

A short walk to the Wollongong CBD, the three-bedroom cottage last sold for $185,000 in 1999 and was on the market briefly in 2006, according to RP Data. The Selling Houses Australia team added new&nbsp;paint throughout, new blinds, new doors, new light fittings, new taps and a revamped kitchen and outdoor entertainment area. Lay says it could have attracted a rental of up to $460 per week. In 2009 it was listed for rent for $400 per week.

[smartcode_project:default project_id=31751 project_image_fid=160996]

Lay&nbsp;was marketing the property with price hopes of $399,000 plus.

The median house price in Wollongong fell 9.9% in&nbsp;the past year but rose 10.5% in the past five years, according to RP Data.

For more about prices and yields in&nbsp;<a href="/news">Wollongong, see the&nbsp;RP Data suburb page.</a>

For real-life property lessons from reality TV shows, download our free eBook&nbsp;<a href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows" target="_blank">Lights, Camera, Auction!</a>

cknowlton-QnEa6ntUYP

Wollongong vendor decides to move back in after Andrew Winter's work is done

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The billionaire developer Bob Ell has abandoned plans to build a mansion on the <a href="/news">Cremorne </a>harbourfront.
His company, Leda Holdings, has listed the building blocks that come with permission for a nine-bedroom house with two pools on its 4,397-square-metre holding.
<a href="https://www.randw.com.au/749071/" target="_blank">It is one of the largest waterfront properties on the north shore</a>. Offers are due March 12.
"Approval is in place for the construction of a 2,739-square-metre home of extraordinary calibre presiding over its exclusive waterfront position," says the marketing.
<img src="/images/stories/2013/02/ell1.jpg" alt="ell1" width="470" height="221">
The $12 million proposal, which also includes a rooftop tennis court with a retractable fence and parking for eight cars, has been listed by Richardson &amp; Wrench Mosman agents Richard Simeon and Mark Manners.
<img src="/images/stories/2013/02/ell2.jpg" alt="ell2" width="470" height="305">
"Masterfully conceived, the one-of-a kind residence features such remarkable amenities as a guest house, caretaker's house, two pools, N/S tennis court, gym, billiard room, home theatre and office whilst still enjoying over 1000sqm of level lawns and garden," the advertisement says.
"With Laurie's Sutton's recent sale at 10 Bay Street Mosman for $20 million we have expectations of early to mid-$20 millions," Simeon told Property Observer.
<img src="/images/stories/2013/02/ell3.jpg" alt="ell3" width="470" height="305">
"Our strategy initially is to target the Chinese market both locally and internationally," he says.
<img src="/images/stories/2013/02/ell4.jpg" alt="ell4" width="470" height="381">
It was in 2008 when Leda snapped up the lots fronting Willoughby Bay.
Leda bought two of the properties from the brothel owner Eddie Hayson, and a third from a neighbour, spending a total of $16 million.
The properties had houses built in the 1950s and '60s.
 
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Bob Ell lists Cremorne harbourfront residential mansion mega-site

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The cheapest NSW property sale of last weekend was at $250,500 at Niagara Park on the central coast, according to Australian Property Monitors.
Its selling agent, Garry Morris, of LJ Hooker, Gosford, says the two-bedroom town house was sold to a first-time investor after four contracts had been issued and three bidders competed at its auction.
The property was previously sold in 1999 at $137,000. The town house had a reserve of $240,000.
Its sale price reflected an annual price growth of 4.55%.
The investor hopes to lease the house at $300 a week, which would reflect a rental yield of 6.2%.
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Niagara Park, Gosford district investor seeks 6.2% yield

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The weekend auction market appears to have continued with some resilience.
Sydney’s auction clearance rate slipped to 62.2%, down from 65.3% on the previous weekend, according to Australian Property Monitors. It was 51.3% on the same weekend last year.
Melbourne's clearance rate was 69%, the Real Institute of Victoria said. It was the same as the 69% last weekend and better than the 54% this weekend last year.
Sydney's top sale at auction was again in Strathfield where a five-bedroom home in High Street sold for $2.027 million. The inner west secured the highest weekend cleareance rate of 86% from 21 auctions, followed by 80% in the Canterbury Bankstwon district which had just the five auctions.
Despite the slight dip, Dr Andrew Wilson at APM said the weekend auction season "was off to a flying start" with both Sydney and Melbourne recording solid auction clearance rates.
Melbourne's top sale was a Moule Avenue, Brighton house that had a $2.4 million vendor bid. It was met with a bid of $2.42 million but the property was passed in and sold after negotiations for $2.55 million.
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Weekend auctions show some steady resilience

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{qtube vid:=4z0DnwUEq0M&amp;feature}
In our Purchase or Pass segment this week Chris Gray is joined by Tom Panos, head of real estate advertising at News Ltd, to check out a potential investment property in North Bondi. It’s a two-bedroom, one-bathroom, unit with lock up garage, 8.6 kilometres from the CBD and 600 metres to the local action. It’s in a blond brick block of just nine units and has a leafy outlook across the district. The unit is in reasonable condition but certainly not shiny and new. There are windows on three sides and there are balconies off both bedrooms and the lounge.
The property rents for $700 per week and sold for $732,000.
With clearance rates around 50% many people would have good reason to assume the property market is in a pretty tough place. But inside that property market are many micro markets, and they are all doing something different. In our Purchase or Pass segment this week we take a look at a property that sold for over $50,000 above the vendors' expectations and after just one open for inspection.
<img alt="wallispde" height="353" width="470" src="/images/stories/2013/02/wallispde.jpg">
Chris: What are your general thoughts on this property as an investment?
Tom: I like it. We see good properties that sell well, this is a good classic example. Some say that the buyer may pay a premium for a property like that, but I think that good properties always get good prices. 
Chris: We have talked about the vendors' expectations, wanting $675,000 and it sold for $732,000. When you get vendors expectations, are they usually high or low? 
Tom: Every vendor across Australia, across the planet, thinks they have the best house in the street. 
Chris: So what is it about a property that makes it stand out and sell in a week? 
Tom: Location is a big thing, no question about it. If someone has the right spot, it will attract a lot of people. If it is a well-renovated property or is it a dump and they can see it being totally renovated. It is the ones that are in between which are often take or leave. It is either beautiful renovations suited to the general population or dumps and deceased estates which fly through the open for inspections. 
Chris: Reading into the detail of the ads, saying there are windows on three sides, it's going to be pretty sunny. 
Tom: Absolutely, sun is a big thing. It is a questioned asked to agents all the time. They usually turn all the lights on before the inspection anyway! 
Chris: Also, it’s a small block, people want to live in massive townhouses, people want to live near the beaches and the city. It's location, isn’t it? 
Tom: Location and small community where you get to know the people is a big thing, less changing people all the time. 
Chris: So if it was you, purchase or pass? 
Tom: I would buy it, but I would buy most things. 
Chris: We always say that good properties always sell well and this is a classic example. Some may say the buyer paid a premium for this property given the vendors; expectations, but if there were plenty of buyers that were offering similar amounts of money then that’s the market price. I would much rather pay a few dollars more for a property that has the potential to sell in a matter of days than get a property for a bargain that no one really wants and might take a year to sell. So for that reason I’m going to purchase.
Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or pass: North Bondi two-bedroom unit

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The valuation of all Pittwater property dropped 4.7% over the past three years, according to the NSW Valuer-General.
Landowners in the Pittwater local government area (LGA) were recently issued with the fresh individual valuations used for ratings purposes and land tax charges.
As at July 1, 2012 Pittwater’s 2012 valuation program consisted of 20,257 properties, up from 20,150 in July 1, 2009.
The Valuer General concluded property values in the Pittwater municipality have generally decreased in the three-year period since the last valuation program was conducted.
“The total land value of the Pittwater LGA as at 1 July 2012 was approximately $17.97 billion. This is an overall decrease from the total land value of $18.81 billion determined as at 1 July 2009,” says Valuer-General Phillip Western.
But residential land values had generally remained steady in the period, with the moderate falls occuring in waterfront, prestige and holiday market land in areas such as Palm Beach, Whale Beach and the western foreshore of Pittwater, according to the NSW Valuer General.
But one example given by the Valuer General of residential values in Alexander Road, Avalon have slightly decreased by 5.5% as typical prices in 2010 were $697,000 for 682 square metres.  In the latest valuations, Alexander Road had typical values of $660,000 for the same size property.
 
Commercial land values have remained steady with the exception of land in Avalon and Palm Beach which showed a slight increase in value.   Typical values in Barrenjoey Road Newport were $1.3 million for 556 square metres in 2010 and $1.38 million on 556 square metres in 2012.  This is an increase of 6% over three years. 
 
Parts of Narrambeen stood out, showing moderate increases in commercial land values.
 
Industrial and rural residential land also remained steady with notable increases in value in Mona Vale and non-urban values in Ingleside.
 
Jubilee Ave in Warriewood saw an increase in general industrial values as the sale of a property in 2010 represented $552 per square metre and in 2012, $588 per square metre.
 
A typical rural land value in 2010 was $841,000 for 2,605 square metres in Laurel Road West, Ingleside – compared with $930,000 in 2012, an increase of 10.5%.
 
“Typical residential land values as at 1 July 2012 were: 
• 683 square metres at Alexander Road, Avalon valued at $660,000 
• 696 square metres at Allington Crescent, Elanora Heights valued at $565,000 
• 828 square metres at Bilkurra Avenue, Bilgola valued at $560,000 
• 696 square metres at Alameda Way, Warriewood valued at $529,000 
• 696 square metres at Jeanette Avenue, Mona Vale valued at $645,000  
• 702 square metres at Lanyon Place, Newport valued at $680,000 
• 930 square metres at Pacific Road, Palm Beach valued at $1,450,000 
• 784 square metres at Dress Circle Road, Avalon valued at $649,000. 
 
“Typical commercial land values as at 1 July 2012 were: 
• 734 square metres at Barrenjoey Road, Palm Beach valued at $1,070,000 
• 556 square metres at Barrenjoey Road, Newport valued at $1,380,000 
• 240 square metres at Old Barrenjoey Road, Avalon valued at $1,070,000 
• 462 square metres at Waratah Street, Mona Vale valued at $1,590,000 
• 879 square metres at Bowling Green Lane, Avalon valued at $1,380,000 
• 204 square metres at Pittwater Road, Narrabeen valued at $525,000. 
 
“Typical industrial land values as at 1 July 2012 were: 
• 860 square metres at Darley Street, Mona Vale valued at $970,000 
• 697 square metres at Garden Street, North Narrabeen valued at $550,000 
• 1,921 square metres at Jubilee Avenue, Warriewood valued at $1,130,000. 
 
“Typical rural residential land values as at 1 July 2012 were: 
• 2 hectares at Dendrobium Crescent, Elanora Heights valued at $1,950,000 
• 2,605 square metres at Laurel Road, Ingleside valued at $930,000 
• 5,229 square metres at Minkara Road, Bayview valued at $1,080,000. 
 
Mr Western said landowners wishing to know more about their land value or the land 
valuation system could call toll free on 1800 110 038 or visit the Land and Property 
Information website at <a href="https://www.lpi.nsw.gov.au/valuation">www.lpi.nsw.gov.au/valuation</a>. 
 
 
 
 
 
 
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equinn-i7Kmo9afeu

Pittwater valuations dip 4.7%

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Donna Hay, the food queen, has listed her Woollahra homewares retail premises for March 5 auction.
She's decided to concentrate on her online retailing initiatives rather than continue with the Holdsworth Street outlet.
Similiarly her long-established magazine, while still printed, also has a<a target="_blank" href="https://www.donnahay.com.au/magazine/"> digital iPad edition </a>these days. There's also her eBook and Zinio editions. Her 18 award-winning cookbooks have sold more than 4 million copies worldwide and been translated into nine languages.
The shop is a highly exposed corner setting close to <a target="_blank" href="/news">Woollahra</a>'s Queen Street village.
<a target="_blank" href="https://bradfieldcleary.com.au/3528154/40-Holdsworth-Street-Woollahra">The three-level sandstone terrace </a>had "no expense" spared in its renovation and customised high end shop fit-out, the marketing by BradfieldCleary advises.
"It's currently renowned as Sydney's finest destination for the ultimate in beautiful homewares, but the property is offered vacant possession," listing agents Bob Guth and Georgia Cleary said.
"It provides a brilliant opportunity for anyone seeking to set up a stylish concept store, market-leading emporium or luxury boutique."
The Holdsworth Street, Woollahra, shop cost $1,615,000 in 2008.
"High ones," is the tip on price expectations. 
It was early 2009 when Hay opened her concept store – full of Donna’s products plus homewares and gift ideas chosen from around the world.
It will all be undertaken online in future.
Among the publishing world, the biggest-selling digital editions in the recent circulation figures ranked NewsLifeMedia's Donna Hay the highest with average sales of 9658 per issue and Bauer Media's The Australian Women's Weekly  at 7250.
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Donna Hay lists Woollahra homewares store as she concentrates on clicks

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For the first time in five years we are somewhat upbeat about what lies ahead despite it being an election year. With the election date being announced – September 14 – this is good news for the property markets as it removes uncertainty and speculation.
We are already we are starting to see a more positive approach, with <a title="CEO confidence in global economy returning: PWC " href="https://www.businessspectator.com.au/bs.nsf/Article/Top-CEOs-less-gloomy-about-global-economy-47S8P?OpenDocument&amp;src=tnb" target="_blank">CEO confidence in global economy returning: PWC</a>, with a major survey pointing to stronger confidence. This is critical given confidence has been the missing ingredient within our economy. <a title="Aust stocks gain 12.74% over 2012" href="https://www.businessspectator.com.au/bs.nsf/Article/Aust-stocks-open-half-a-per-cent-lower-pd20121231-3GV3J?OpenDocument" target="_blank">Aust stocks gain 12.74% over 2012</a>, which is important given investors abandoned our financial markets as a direct result from the global financial crisis (GFC). With interest I read a Eureka Report article by Alan Kohler – <a title="Five reasons why I’m bullish in 2013." href="https://www.businessspectator.com.au/bs.nsf/Article/markets-economy-2013-RBA-China-Rio-Tinto-US-pd20130122-478ZT?OpenDocument&amp;src=mp" target="_blank">Five reasons why I’m bullish in 2013.</a> He points out “All of which means the returns from cash are miserable and falling. Time to invest then, which means taking more risk, but not too much risk – thus, bank shares returned 25% in the second half of 2012.
"In my view this trend has just begun. For five years investors everywhere have been more concerned with not losing their capital than with making a return, and gradually this is changing; they are moving out along the risk curve.” Property markets and financial markets run in parallel lines, then throw in an all time record low cash rate of 3%, and the evidence is overwhelming that our property markets are at a precipice.
Back to the cash rate, which I don’t believe will go any lower, despite <a title="Steve Keen and Macquarie Group tip cash rate of 2% by year end" href="/news" target="_blank">Steve Keen and Macquarie Group tipping a cash rate of 2% by year end</a>. Should that be the case this prediction means that the Australian economy is cactus. I’m with <a title="HSBC’s Paul Bloxham the lone rider tipping interest rates to rise in 2013." href="/news" target="_blank">HSBC’s Paul Bloxham, the lone rider tipping interest rates to rise in 2013.</a> No doubt each and every one of you has your own thoughts on which direction the cash rate is headed.
It’s difficult to allow the facts to get in the way of a good story – Australian Property Monitors published its December quarter 2012 findings:
<h4>KEY POINTS</h4>
• The national median house price rose by 1.9% over the December quarter and is 2.1% higher than at the end of 2011. • Sydney house and unit prices are now at record levels. • All capitals recorded house prices over the quarter for the first time since March 2010.
Bear in mind also many of the top-end sales are still to filter through – for example, this week we had a Beauty Point residence settle for $12.8 million, which is the new record for a non-waterfront.
<img alt="simeonfeb1" src="/images/stories/2013/02/simeonfeb1.jpg" width="470" height="398">
 
We can also expect fierce rivalry in the home loan market, where the big four banks would have been horrified to read <a title="A third of borrowers would ditch the Big Four banks for 50 basis point discount: CUA" href="/news" target="_blank">a third of borrowers would ditch the big four banks for 50 basis point discount: CUA</a>. Just as fascinating <a title="Banks laughing all the way to the ...bank " href="https://www.smh.com.au/business/banks-laughing-all-the-way-to-the--bank-20130128-2dgw3" target="_blank">Banks laughing all the way to the …bank </a>“In a confidential note to its institutional clients, Westpac describes the fall in wholesale funding costs as ‘extraordinary’ “. The days of blaming “high funding costs” are now it would appear irrelevant.
<img alt="simeonfeb12" src="/images/stories/2013/02/simeonfeb12.jpg" width="470" height="308">
 
It is all about confidence.
This takes me to the most remarkable property data I have ever seen before!
For some strange reason vendors in <a href="/news">Mosman</a>, <a href="/news">Cremorne </a>and <a href="/news">Neutral Bay</a> appear to be not even remotely interested in selling in 2013. We have never before seen such a tight market with available properties for sale the lowest we have ever seen – otherwise known as a Vendors’ Market. So why would the Reserve Bank of Australia (RBA) even consider lowering the cash rate?
Robert Simeon is a director of <a 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 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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robertsimeon-hRNTwJyXkQ

Property market the tightest it's ever been in Mosman and Cremorne

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The hillside Vaucluse residence of John Porter, the Austar chief before its merger with Foxtel last year, and his wife, Susan Mougey, has been listed for sale with $11 million plus hopes.
The Vogue Living-featured house was designed by the Harvard-trained US architect Tom Rivard three year ago. Rivard describes it as an extensive renovation and reconstruction of an expanded family home for a family of six plus their cat.
"As befits the site and occupants, the project is a village, and a hilltop one at that," he suggested, noting the site, along with the previous house, was “phenomenologically excavated.”
The interior design was undertaken by Briony Fitzgerald, sister of Channel 9 boss David Gyngell, and whose late father Bruce Gyngell pioneered Australian television, while her mother, Ann Gyngell, was a leading Sydney interior decorator.
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-112991307" target="_blank">The five-bedroom, four-level residence</a> is set in gardens with a pool and Hollywood-style cabana designed by William Dangar.
Another Hillside Avenue residence sold to the Yang family from Hong Kong for $21.5 million in 2011, the year's highest house price.
The couple paid $1.89 million in 1999 for the 658-square-metre <a href="/news">Vaucluse </a>block.
It's been listed through Alan Waitsman at LJ Hooker Double Bay.
Rivard's design team included Team Georg Ackerman, Poune Parsanejad and Alina McConnochie.
"Along with expressing a vast range of living patterns that change from day to day (and hour to hour), the family is both highly cohesive as well as being composed of six unique individuals.
"The cat adopts traits of each, save for the father’s ability to whip up dinner for six at short notice," <a href="https://www.rivard.com.au/" target="_blank">Rivard wrote</a>.
''The 279 Post-It notes (in six colours) tagged in the 20th Century Art Book left no doubt as to either the individuality or the expressiveness of the clients – save for the cat, who neither speaks nor cares much for art," he added.
John Porter is now chairman of advertising and marketing company Photon Group which changed its name to Enero Group last year. Prior to joining Austar, John Porter spent ten years in various senior management capacities for Time Warner Cable, a subsidiary of Time Warner, Inc.  He has more than 30 years of management experience in the US and Australian subscription television industries.
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John Porter lists Vaucluse mansion inspired by 279 Post-It notes

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Offshore buyers are increasingly active in the underpinning of Mosman's property revival.
The latest sale is $9 million on Burran Avenue on <a href="/news">Balmoral </a>slopes to mainland Chinese buyers. The house (pictured above) was described as "an inspirational Susan Rothwell design with views that range from Manly, North Head, Dover Heights, Middle Head, Grotto Point and Balmoral Beach."
<a href="https://www.randw.com.au/405631/" target="_blank">"It's the ultimate lifestyle statement," </a>the marketing said.
Another recent sale was $12.8 million. Last year Property Observer revealed <a href="https://www.propertyobserver.com.au/new-south-wales/chinese-buyers-playing-property-pick-a-box-but-record-mosman-price-unlikely/2012030653723" target="_blank">it was a Chinese buyer who topped recent Mosman 2012 sales</a>, spending $20 million on retired car dealer Laurie Sutton’s 5154-square-metre Bay Street Mosman holding – the suburb's largest harbourfront estate. It was bought by Ying Li.
The brothers Richard and Robert Simeon, from Richardson &amp; Wrench Mosman, have been dealing with increasing numbers of Chinese buyers agents since 2009 when it comes to the marketing of prestige <a href="/news">Mosman</a> property.
Prestige agents have noted the stars have well and truly aligned for Asian buyers wanting to invest in Australian residential projects.
The most recent development has been the introduction of “golden ticket” visas aimed at fast-tracking wealthy Asian investors’ entrance into Australia with a provisional four-year visa followed by the opportunity to apply for permanent residency.
The new Significant Investor Stream Visa (as it is officially known) requires an investment of at least $5 million in state or territory bonds; an ASIC-regulated managed investment fund; or a direct investment in an Australian company, which would include investments in commercial property backing a business such as a hotel or lodge.
The visa allows immigrants to skip skilled migration requirements such as being proficient in English and requires immigrants spend a minimum of just 40 days a year in Australia over the four-year visa period.
There is also no upper age limit, and the main applicant does not have to meet the business points test.
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