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.

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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.

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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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Before Christmas the celebrity builder Scott Cam was seeking $3,100 a week tenants at his redundant Rosebery house following his $4.6 million Vaucluse mansion purchase.
Cam, who will thrown in a gardener and pool man for the new occupants who take up the rental, is now seeking $2,900 a week occupants.
Even with the price adjustment its the dearest rental by far in the fringe eastern Sydney suburb, where the next dearest rent is $1,200 a week.
<a href="https://www.realestate.com.au/property-house-nsw-rosebery-409349331" target="_blank" rel="nofollow">It is, however, a remarkable contemporary, custom-built family residence</a>.
There's huge open-plan living, dining and family entertaining zones with soaring ceilings, glass walls and louvres, polished concrete floors and two Jetmaster fireplaces.
Its Caesarstone kitchen comes with Ilve appliances, five-burner gas hob, double oven, dishwasher and walk-in pantry.
The private master suite occupies the entire upper level features double walk-in-robes, sunroom, adjoining study/nursery and Japanese-inspired ensuite.
There are an additional four double bedrooms, all with built-ins.
The grounds have north-facing grassed garden with solar-heated saltwater pool complete with decking, sunbeds and a separate cabana with kitchen/wet bar, living room, home theatre, guest bedroom, bathroom and steam room.
It comes with "big workshop space" (pictured below) plus office.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/12/camtoolroom.jpg">
The celebrity builder, who launched his TV career in 2000 alongside Jamie Durie on Backyard Blitz, also appears on Backyard Blitz, Domestic Blitz, Random Acts of Kindness and Renovation Rescue.
This year he headlines the highly anticipated The Block All Stars. 
 
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jchancellor-FAypfDUnLy

Scott Cam reduces Rosebery rental to $2,900 a week

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Over the past three-year period the value of residential land in the Gosford local government area has generally showed a slight to moderate decrease, according to the NSW Valuer-General Philip Western.
It follows the release of fresh valuations for 63,292 properties in the Gosford local government area.
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The total land value of the Gosford municipality as at July 1, 2012, was $19.66 billion, a decrease from the total land value of $20.88 billion determined as at July 1, 2009.
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Residential land in areas such as <a target="_blank" href="/news">Avoca Beach</a>, <a target="_blank" href="/news">Copacabana</a>, <a target="_blank" href="/news">Gosford</a>, <a target="_blank" href="/news">MacMasters Beach</a>, <a target="_blank" href="/news">Koolewong </a>and <a target="_blank" href="/news">Davistown</a> showed a slight to moderate increase in value.
Beach front properties in <a target="_blank" href="/news">North Avoca</a> also showed a slight increase in value, but beach front properties at <a target="_blank" href="/news">Avoca Beach</a> showed a slight decrease.
The value of coastal rural residential land varied with some properties showing a moderate increase and others showing a moderate decrease. Rural residential land in the hinterland has generally shown a slight to moderate decrease, with the more rugged and less cleared sites showing a stronger than average decrease. Hinterland properties in the more prime locations showed a slight increase in value.
The value of commercial land generally showed a slight decrease, with the exception of the prime suburb of <a target="_blank" href="/news">Erina</a>, which showed slight to strong decreases in value, and commercial land values in <a target="_blank" href="/news">Terrigal</a>, which showed a slight increase.
Commercial land values in <a target="_blank" href="/news">Gosford</a> and <a target="_blank" href="/news">Woy Woy</a> showed a range of changes, from slight increase to slight decrease, while most of the commercial land in <a target="_blank" href="/news">Ettalong Beach</a> showed a moderate increase.
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Industrial land in the Gosford LGA also generally showed a slight decrease in value, with the exception of land in North Gosford, which remained steady or showed a slight increase in value.
Typical residential land values as at 1 July 2012 were: • 670 square metres at Amethyst Avenue, Pearl Beach valued at $513,000 • 727 square metres at Avoca Drive, Avoca Beach valued at $2,730,000 • 613 square metres at Dale Close, Terrigal valued at $350,000 • 556 square metres at North Avoca Parade, North Avoca valued at $2,720,000
• 696 square metres at Paton Street, Woy Woy valued at $235,000 • 613 square metres at Patrick Crescent, Saratoga valued at $247,000 • 664 square metres at Salacia Close, St Huberts Island valued at $490,000 • 683 square metres at Webb Street, East Gosford valued at $290,000.
Typical commercial land values as at 1 July 2012 were: • 479 square metres at Blackwall Road, Woy Woy valued at $399,000 • 234 square metres at T errigal Esplanade, Terrigal valued at $1,280,000
• 259 square metres at Victoria Street, East Gosford valued at $240,000
• 526 square metres at Watt Street, Gosford valued at $415,000
• 266 square metres at West Street, Umina Beach valued at $400,000.
Typical industrial land values as at 1 July 2012 were: • 481 square metres at Alma Avenue, Woy Woy valued at $223,000 • 2,149 square metres at Bonnal Road, Erina valued at $547,000 • 4,204 square metres at Bowen Crescent, West Gosford valued at $455,000 • 2,639 square metres at Brooks Avenue, Wyoming valued at $371,000 • 4,000 square metres at Somersby Falls Road, Somersby valued at $526,000.
Typical rural residential land values as at 1 July 2012 were: • 4,047 square metres at Avoca Drive, Green Point valued at $190,000 • 1.1 hectares at Doyle Street, Macmasters Beach valued at $400,000 • 2 hectares at Fagans Road, Lisarow valued at $400,000 • 1 hectare at Matcham Road, Matcham valued at $560,000 • 1 hectare at Nursery Street, Narara valued at $308,000 • 1 hectare at Scenic Highway, Terrigal valued at $900,000 • 1 hectare at Tumbi Road, Wamberal valued at $430,000 • 4,047 square metres at Yugari Crescent, Daleys Point valued at $275,000.
Typical hobby farm land values as at 1 July 2012 were: • 8.7 hectares at Hayden Road, Wamberal valued at $620,000 • 19 hectares at Pacific Highway, Mount White valued at $680,000 • 48 hectares at Peats Ridge Road, Peats Ridge valued at $1,470,000
• 8.1 hectares at Wisemans Ferry Road, Mangrove Mountain valued at $550,000.
The last valuations have been compiled during the 2012 valuation program from the analysis of 720 residential, 50 commercial, 30 industrial and 120 rural sales.
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Landowners in Gosford LGA were last issued with a notice of valuation showing their property’s land value as at July 1, 2009.
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Gosford land values dip or rise marginally in past three years

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The artist David Bromley and his partner, Yuge Yu, have adjusted price expectations on their current Byron Bay abode on the the NSW north coast.
Bromley, one of Australia's most prolific artists, and Yu, a fashion designer, have cut the asking price on the Jonson Street property from $1.55 million to $1.4 million.
The couple's home and studio is on the market, with the couple planning to move to semi-rural acreage just outside Byron Bay.
It's a 1,012-square-metre Jonson Street property, a five-minute walk from the beach, designed for indoor/outdoor living, with shaded timber decking, a courtyard and leafy gardens.
The original three-bedroom cottage comes with outbuildings that allow for, all up, five bedrooms. There is commercial zoning.
It's been listed by Jamie Marshall and Mary O'Connor of Bangalow Real Estate, in conjunction with Ray White agent Lloyd Lawton.
The property is being offer with painted murals in the courtyard, on the side of the house, in two bedrooms and in the living area.
In its backyard, there’s a vintage AirStream caravan with a deck and Japanese hot tub, and a Studebaker ute decked out with tropical plants.
<a href="https://www.propertyobserver.com.au/https://www.bangalowrealestate.com.au/property/details/445" target="_blank" rel="nofollow">It’s priced at $1.4 million</a>.
The property was bought by Bromley's former partner of 17 years,  Tori Dixon-Whittle, who paid $1.15 million in 2007. Dixon-Whittle and their three children now live in Vietnam.
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Artist David Bromley knocks $150,000 off his Byron Bay asking price

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Le Chateau, a landmark manor house at Dural, has been sold, having been listed last October with $6.5 million hopes. It represents a relatively snappy sale, as RP Data note the average time on market before sale as 106 days in Dural, and even longer for prestige listings.

Mixing modern with medieval, the prestige listing in the semi-rural Hills District north-west of Sydney was the location of the Channel 7 recent television series Beauty and the Geek.

The marketing was previously put on hold while the owners enjoyed the income from the television production. No word yet but having pai close to the asking price, its probable the series will need a new accomodation base.

Owned by telco millionaire Colin Marland and his wife, Julie Anne, the vast<a href="/news"> Dural</a> French-inspired mansion is set on two hectares of manicured grounds. <a href="https://www.kenjacobs.com.au/598825/" rel="nofollow" target="_blank"> It was sold through Christie's agents Ken Jacobs and Darren Curtis</a> to offshore buyers.

The two-storey residence has five bedrooms, each with a travertine ensuite and walk-in wardrobe.

There is a grand entry foyer leading to formal and informal living, dining and entertainment areas, including a family room with an eight-metre-high ceiling.

The vast 1,770-square-metre Vineys Lane residence was built in 1997 for Ian Beilby, who made his money from hair-care products, electrical appliances and property development, and his wife, Jill.

Le Chateau last sold for $4 million to the Marlands in 2000. No sale price has yet been revealed.

The last Dural castle listing took three years to sell when in March last year Myriam Borg, founder of Cre8 Australia,<a href="https://www.propertyobserver.com.au/new-south-wales/french-inspired-dural-castle-normandie-sells-after-owners-failed-to-keep-mortgagees-at-bay/2012032654022" target="_blank"> bought the Dural French-inspired castle Normandie</a>. The mortgagees-in-possession sold it off at $2.95 million. The vendors had wanted more than $6.25 million ever since listing it in 2009. Built in 1985 by Bronte Douglass, the founder of Douglass Pathology, and his wife, Darlene, the imposing sandstone residence had four bedroom suites, a grand reception hall and a billiard room. In the 2.2-hectare grounds are sweeping lawns, ornamental trees, a tennis court and swimming pool.

<h2>NSW properties selling now:</h2>

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Beauty and the Geek locale Le Chateau in Dural sells

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Overall NSW land values declined by 0.36% in 2011-12, according to the NSW Valuer-General, compared with a 1.7% increase for the prior annual period.
The total residential land value for NSW decreased overall by 0.24% for the 2011-12 period, compared with an overall 2.1% increase for the prior period. It was the first fall in six years.
Land valuation notices will be mailed to 795,000 ratepayers in 45 local government areas over the next four weeks, commencing January 7, NSW Valuer-General Philip Western said today.
“Some 2.46 million properties were valued as at 1 July 2012 producing a total land value for NSW of around $976 billion,” Western says.
The 45 councils are those that will review their council rates model this year based upon the latest valuations.
“Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates,” Western says.
The largest falls in Sydney residential values were in the pricier municipalities, topped by a 7.3% fall in <a target="_blank" href="/news">Woollahra </a>to a $1.27 million median. Values rising strongly in the inner west was a noticeable trend, along with the outer-west mortgage belt heartland.
The NSW Valuer-General has determined that the land tax threshold for the 2013 land tax year is $406,000, so any property, or collection of investment property, with values above $406,000 will be liable for land tax.
After Woollahra's dramatic fall, <a target="_blank" href="/news">Randwick</a>'s 4.5% drop was next most pronounced to a $716,000 median.
Pittwater shed another 4% to a $620,000 median land value in 2011-12, after a 3.7% decline a year earlier.
Values fell 3.7% in the <a target="_blank" href="/news">Canada Bay</a> municipality to a $677,000 median.
<a target="_blank" href="/news">Waverley </a>land values fell 3.2% to a $968,000 median.
<a target="_blank" href="/news">Mosman </a>land values fell 3% to a $1.28 million median land value.
The largest gain in median residential land values was the <a target="_blank" href="/news">Strathfield</a> municipality, which rose 12.3% to a $747,000 median land value, followed by another Sydney inner-west locality, <a target="_blank" href="/news">Marrickville, </a>rising 10% to a $441,000 median land value.
<a target="_blank" href="/news">Burwood </a>recorded strong growth in values, up 8% to a $555,000 median land value, along with <a target="_blank" href="/news">Ashfield, </a>where values rose 4.8% to a $545,000 median land value.
But <a target="_blank" href="/news">Leichhardt </a>dipped by 1.5% to a $602,000 median land value after recent strong gains.
The outer-west municipalities of <a target="_blank" href="/news">Camden</a> and <a target="_blank" href="/news">Campbelltown</a> recorded strong growth. Campbelltown's median land value was up 4.9% to $171,000, and Camden was up 4.8% to $220,000.
 
 
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Woollahra wears the brunt of the official falls in NSW land values: Valuer-General

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YBR boss Mark Bouris has had his pad in The Astor on Macquarie Street, Sydney quietly listed for sale for the past few months.
It was in 2006 when he bought<a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Sydney/?adid=2010091212" target="_blank"> the five-bedroom, two-storey north-east corner apartment </a>from then Astor chairman Peter Kernaghan.
There's no price estimate available to Title Tattle from its listing agents, Lisa Steel and David Newgrosh, but it might have $10 million-plus hopes given its lavish renovation, and noting a two-bedroom 11th-floor unit comes with a $3.15 million asking price through McGrath Estate Agents.
It has an estimated 440 square metre space over what were three separate apartments.
Its also <a href="https://www.propertyobserver.com.au/https://www.lisasteele.com.au/property/details/469" target="_blank">been available for rent at $3950 a week</a>.
{yoogallery src=[images/stories/2012/12/dec20bouris]}
It's best known for when occupied by entertainer Barry Humphries, before it sold for $800,000 in 1987, and then extended with the addition of another adjoining apartment.
It comes with sweeping semi-spiral staircase to the upper level, where there is a "magnificent master bedroom suite" with private study, walk-in dressing room and ensuite bathroom.
The very private Mark Bouris has resticted internal photos to just the one image, although all who've been through say its a stunning apartment.
Title Tattle last inspected the apartment back in 1986 when its was Dame Edna's possum pit. At the time it was also a split-level triplex. The then selling agent was Tim Mansfield at the Andrew Gibbons agency whose pioneering selling technique included a three minute promotional video. The price back then was $1.25 million for the then seven bedroom apartment, with the apartment split back into two leaving one with the gracious wrought iron staircase for grand entrances.
The Astor is the 12-storey, 1920s company title block that once dominated not only the city skyline but Sydney society.
Despite being the city's oldest apartment complex - and facing serious competition from many nearby new developments – it continues to attract buyers, especially when a modernised apartment comes with parking elsewhere on the strip. Especially after the elegant Iain Halliday-designedrenovation benchmark set in the mid-1990s after style-setters, ad man John Nankervis and wife Amanda bought their $535,000 third-floor deceased estate unit. 
Bouris took up his ownership having previously had digs elsewhere on Macquarie Street, in the Bennelong complex.
Over the years the block of apartments has been home to Lisa Rochfort, who was the managing director of Australian couture jewellers Fairfax &amp; Roberts, adman Harold Mitchell, Pioneer founder Sir Tristan Antico, broadcaster John Laws and artist Portia Geach.
Being company title, keeping track of pricing and sales figures is a little difficult, though in 1932 the eighth-floor north-east corner block was passed in at 4300 pounds.
Peter Kernaghan had knocked back $3.82 million when he sought to sell it in 2002.
The <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-sydney-nsw-2000/161473" target="_blank">1101 Astor listing</a>, which had initial $3.35 million asking price,  is a north-east facing, two bedroom apartment.
Its possibly the apartment rented by the Sydney Harbour Bridge engineer Lawrence Ennis, of Dorman, Long &amp; Co, who would look through his telescope to check on the progress of the bridge's construction.
The Astor was Sydney's highest residential building from 1923 until 1960 and its off-the-plan prices ranged from 1500 pounds to 2700 pounds.
 
 
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Mark Bouris lists his Astor apartment on Sydney's high society Macquarie Street

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<img height="353" width="470" src="/images/stories/2012/12/alexanderst.jpg" alt="alexanderst">
In our Purchase or Pass segment this week I am joined by Stuart Waugh, the executive director at Bell Partners, to asses another potential property investment. As always the location is a given, it’s the finer details about the property that we can debate.
It’s a three-bedroom unit with a lock up garage, 8.6-kilometres from the CBD and less than 500-metres to the action. The unit is in a block of 26 units set out in a horseshoe shape with three entrances and two different garage areas. The unit is east and west facing with views from the balcony across the district and the ocean. The unit recently sold for $855,000 and rents for $840.
Chris Gray: The first thing I want to concentrate on is basically the size of the block. I always prefer to get in small blocks of 12 units, this is 26, what difference does this generally make being in a big block rather than a small block? 
 
Stuart Waugh: Big blocks generally mean strata levies are quite high and there could be things wrong with the building. There could be a couple of lifts in there, so you have to maintain all these things. You and I were just talking before coming on the show about maintaining blocks and how expensive they can be. Just be careful with big blocks like these, you could get strata levies that may be unaffordable.
Chris Gray: Also the thing I find with bigger blocks is it’s hard to get decisions made. Trying to get 12 people on the same page at the same time is a nightmare, trying to get 26 people is almost impossible. Things then don’t happen and a $100,000 problem turns into a million dollar problem.
Stuart Waugh: Exactly right, you see blocks deteriorate over time because they can’t get a decision made so therefore you have things growing all over the brickwork. You get concrete cancer and you have landscaping that’s not maintained. Those sorts of things can be a big deterrent to a building. You’re right, if you have big meetings and big decisions to make, it doesn’t happen.
Chris Gray: The first property I bought in Coogee in the late nineties, we have to raise $100,000 to get the roof replaced, which is $10,000 each. But we’re trying to say pre-worn, we need to fix balconies, we need to render, we need to spend $1 million in the next few years… it’s never a good time is it?
Stuart Waugh: No, especially in apartments because people who buy apartments can’t afford $100,00. They’re going to be first homebuyers, young families, those sort of people don’t have $100,000 lying around. It’s not going to happen.
Chris Gray: And then the 65 year olds who have paid off their mortgages might have the equity but they do not want to get a mortgage at 65.
Stuart Waugh: That’s right, they have plenty of equity and assets like you said but not the cash flow to service a debt if they do get debt.
Chris Gray: One of the things I did like about this particular block is there’s two separate entrances on different streets. So suddenly it’s not like your Sydney parking 26 cars, so it’s kind of split in half. Also in the horse shoe shape there’s three different entrances and it’s only three-stories so it’s not the same as being in a 26-storey building with massive a car park. You have to try to look at the building, because they’re not all the same are they?
Stuart Waugh: Exactly right, if you had have seen this in the newspaper with 26 units you probably would have assumed it’s a ten storey building but that’s not the case with this one, there is actually a couple of entrances.
Chris Gray: And obviously that’s why the agents don’t put in the effort as well.
The other thing I was going to concentrate on was a three-bedroom at $855,000, it’s obviously slightly more expensive a three-bedder over two, an issue for you?
Stuart Waugh: Not in this case, the yield was quite good. I thought $855,000 was quite reasonable and quite a well maintained block. The yield was quite attractive in this particular case.
Chris Gray: Purchase or pass for you?
Stuart Waugh: I say purchase.
Chris Gray: Overall, I think this is a good unit and you can overcome being in a bigger block due to those separate entrances we just talked about and being low rise, which still makes it feel reasonably boutique. Sometimes a three-bedder can be a good option for affordable renting between three people, and you end up with a higher rental yield than maybe going for a two-bedder. If it were me, I’d go for a purchase to slightly diversify my current portfolio.
Chris Gray is a buyer’s agent at <a rel="nofollow" href="https://www.yourempire.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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chrisgray-pn7di3ceFk

Purchase or Pass? A three-bedroom Coogee apartment

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The Sydney median house price gained just 0.4% in the September quarter while unit prices were unchanged as the strongest growth was recorded in outer suburbs to the west and north, according to the latest figures released this week by the Real Estate Institute of NSW (REINSW).
The median Sydney house price stands at $567,000 still 3.1% down over the 12 months to September while the unit price stands at $460,000, down 1.1% over the same period.
The inner and middle suburbs of Sydney have borne the brunt of house price declines with the median house price for inner city suburbs down 2.8% over the past 12 months to a median $1.03 million while middle suburb house prices have fallen 3.3% over the same period to $720,000.
House prices in the prestige Eastern suburbs local of Woollahra have fallen 21% over the past year from $1.9 million to $1.45 million from 90 sales while houses in Mosman on the north shore have fallen 15% from $2.25 million to $1.9 million with 279 sales recorded.
The outer suburbs, predominantly in the west, were the ‘good news’ story, having avoided the drops experienced in inner and middle parts of the city, with the median house price remaining stable at $460,000.
Unit prices made their strongest gains in the Blue Mountains LGA rising 8.6% to a median of $315,000 with four of the top performing unit markets in Sydney’s outer west. The exception was Ku-Ring Gai to the north.
Across Sydney, the more affordable unit market performed decidedly better than houses with 25 Sydney LGA recorded gains in their unit prices and only 15 recorded falls. The Manly LGA recorded the biggest annual fall in unit prices – 8.5% to a median of $670,000.
Top five performing Sydney LGAs year to September 2012 - Units
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="154" valign="top">
LGA
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Gain over year
</td>
</tr>
<tr>
<td width="154" valign="top">
Blue Mountains
</td>
<td width="154" valign="top">
$315,000
</td>
<td width="154" valign="top">
8.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Campbelltown
</td>
<td width="154" valign="top">
$256,000
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Camden
</td>
<td width="154" valign="top">
$324,000
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Ku-Ring Gai
</td>
<td width="154" valign="top">
$662,000
</td>
<td width="154" valign="top">
5.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bankstown
</td>
<td width="154" valign="top">
$346,000
</td>
<td width="154" valign="top">
4.4%
</td>
</tr>
</tbody></table>
Source REINSW
There were only 13 Sydney LGAs that recorded house price gains over the year to September with 26 LGAs recording falls.
The top performer was Camden in the south west, which managed a gain of 2.8% to a median of $452,250 over the year to September with the outer western suburbs (Penrith, Wollondilly, Bankstown) again prominent among the top performers, with Drummoyne in the inner west the exception to the rule.
Top five performing Sydney LGAs year to September 2012 - Houses
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="154" valign="top">
LGA
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Gain over year
</td>
</tr>
<tr>
<td width="154" valign="top">
Camden
</td>
<td width="154" valign="top">
$452,250
</td>
<td width="154" valign="top">
2.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Penrith
</td>
<td width="154" valign="top">
$380,000
</td>
<td width="154" valign="top">
2.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Drummoyne
</td>
<td width="154" valign="top">
$1,100,000
</td>
<td width="154" valign="top">
2.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Wollondilly
</td>
<td width="154" valign="top">
$438,000
</td>
<td width="154" valign="top">
2.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bankstown
</td>
<td width="154" valign="top">
$540,000
</td>
<td width="154" valign="top">
2.3%
</td>
</tr>
</tbody></table>
Source: REINSW
There were much strong gains in some of the major regional towns headed by the Upper Hunter, with its house prices up 11.1% to a median of $306,000 ahead of Greater Lithgow, which recording a 9.6% gain to $232,500 and Singleton, up 7.5% to a median of $428,000.
There were also gains for Bathurst (up 5.4% to $510,000) and Dubbo (up 3.8% to $269,500).
However, the regions were very much a mixed bag with losses recorded in Wagga Wagga (down 3.3% to median of $300,000), Tweed (down 5.1% to $438,000), Port Macquarie Hastings (down 3.1% to $376,500) and Kempsey (down 8.6% to median of $267,500).
Wollongong house prices are down 2.2% for the year to a median of $440,000 while Newcastle house price are down o.5% to a median $385,000.
Commenting on the Sydney metropolitan market, REINSW chief executive Tim McKibbin says the flow-on effect from interest rates has yet to be seen.
“As conditions in the US improve, it is having an impact on our market and the overly cautious outlook we have had is beginning to ease.
“While we will not see sharp rises in property in 2013, we do expect to see consistent growth,” he says.
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Sydney house and unit prices continue to tread water with strongest gains in far outer suburbs: REINSW

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The Belrose Hotel on Sydney's northern beaches has sold to the Redcape Property Fund for about $23 million through Ray White Hotels.
The pub was bought from the Bayfield family who gave it a $10 million facelift in 2009.
The facelift involved turning the Belrose Hotel – formerly The President - into a modern pub with bar, bistro, café, gaming area and multiple restaurant areas.
The hotel was last listed for sale in 2006 and sold for $14 million.
The Redcape Property Group is run by the former Foster's chief executive Trevor O'Hoy.
The selling agent, Ray White Hotels managing director Andrew Jolliffe, said the hotel was "a near perfect example of a future-proofed large format suburban hotel freehold, enjoying multiple revenue streams, ample parking and high barriers to entry for proximate competition."</body></html>

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Belrose Hotel sells for about $23 million

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The last vacant residential beachfront land disposal on Sapphire Beach in Coffs Harbour has prices ranging from $269,000 hillside to $1.2 million beachfront. 
<img height="353" width="470" src="/images/stories/2012/12/sapphire.jpg" alt="sapphire">
Sapphire Beach is rife with big names, including mining magnate <a target="_blank" href="/news">Nathan Tinkler</a>, who purchased Noorinya on a headland for $11.5 million.
<img height="353" width="470" src="/images/stories/2012/12/sapphire3.jpg" alt="sapphire">
Stockland’s David Pitman and ABN AMRO’s Simon Perrott purchased oceanfront properties on the next headland just along from the new estate.
The 14 beachfront lots and 25 hillside lots – released in June 2011 – range from 472 square metres to 904 square metres.
<img height="353" width="470" src="/images/stories/2012/12/sapphire4.jpg" alt="sapphire">
Sapphire Beach Estate is located on oceanfront drive at 740 Pacific Highway – eight minutes north of the city of Coffs Harbour.
Many of the lots boast panoramic island and ocean views.
<img height="353" width="470" src="/images/stories/2012/12/sapphire4.jpg" alt="sapphire">
“The topography, vegetation and stunning ocean and beach outlook are the perfect canvas for a distinctive and contemporary coastal community,” says director of architectural firm Cox Richardson Philip Graus.
<img height="353" width="470" src="/images/stories/2012/12/sapphire5.jpg" alt="sapphire">
“A aspect of this estate comes from the work the developers have done to meet planning legislation for coastal development.”
“All lots are north- or north-east facing and are protected from strong winds. The southerlies go straight over the top because of the headland,” says agent from Real Estate of Distinction Peter Stone.
<img height="353" width="470" src="/images/stories/2012/12/sapphire6.jpg" alt="sapphire">
“I would expect these lots to double in value in five years,” Stone says.
“I have had an unprecedented amount of interest from Queensland in particular over the past couple of months,” says Jason Burnett from The Edge Coffs Harbour.
“Obviously we are hoping to see some sales from these enquiries over the school holiday period,” says Burnett who's hoping for the first sale over the summer break.
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