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.

&nbsp;

&nbsp;

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.

&nbsp;

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> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

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>

&nbsp;

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?

<html><body>
The Solitary Islands Beach House on Sapphire Beach, Coffs Harbour, has become highly recommended since completed in March 2010.
The property has been acknowledged in the Top 10 A-list celebrity retreat homes in Australia by Ninemsn Luxury and Spa, as well as finding a spot in the Top 10 best holiday houses in Australia by Ninemsn Australia Travel.
No names of any occupants though.
Situated on Beachfront Close, <a href="/news">Sapphire Beach</a>, the Solitary Islands Beach House can sleep up to eight to 12 guests.
With two tennis courts, a whale watching telescope and an infinity edge pool, you won’t be short of activities.
And keep your eyes peeled, Sapphire Beach also plays host to mining magnate <a href="/news">Nathan Tinkler’s $11.5 million Noorinya residence.</a>
The 523-square metre property is available to rent from January 22 with a minimum five-night stay.
Late January comes with a price tag of $8,400 for a seven-night stay.
If you choose to stay from Sunday to Thursday, you can expect to pay $1,200 a night and $2,400 for a Friday or Saturday night.
</body></html>

ntrotman-Et3xWpamVh

Countdown to summer: Solitary Islands Beach House

<html><body>
The proposed 300-metre long bridge over Homebush Bay, linking the Sydney suburbs of Rhodes and Wentworth Point, near Sydney Olympic Park, has moved closer to realisation, although the developers are now seeking 1,300 further dwellings on top of the original 7,000-dwelling proposal.
The proposed two-lane bridge would be used by <a target="_blank" href="https://majorprojects.affinitylive.com/public/96599e350f6a1307c313c9850d0941f5/Homebush%20Bay%20Bridge%20-%20Preliminary%20Environmental%20Assessment%20Report.pdf">pedestrians, cyclists, public buses</a>, with no access proposed for private vehicles.
The bridge, which would link Gauthorpe Street at Rhodes with Footbridge Boulevard at <a target="_blank" href="/news">Wentworth Point</a>, has been up for public consideration since late 2010.
<img src="/images/stories/2012/12/homebushbridge.jpg">
The bridge is set to become a focal point of Homebush Bay, peaking at 9.2 metres, and is designed to save Wentworth Point residents the current 12-kilometre round trip to Rhodes to access shops, office employment and the railway station.
The project is proposed by Fairmead Business Proprietary Ltd, a consortium formed by Wentworth Point landowners including Billbergia Group, Sekisui House Australia, City Freeholds and Homebush Bay Holdings, directed by the Nasser brothers.
The New South Wales Department of Planning and Infrastructure last week invited public feedback on the now accompanying proposal for additional housing at Wentworth Point.
The department is seeking feedback on a proposal to increases the densities and heights within the development controls officially known as the Homebush Bay West Development Control Plan (DCP).
The changes seek four towers of 25 storeys to be built, with eight surrounding towers of between 16 and 20 storeys.
The current height limits on the site are limited to eight to nine storeys.
The additional floor space is proposed to fund the bridge between Wentworth Point on the west side of Homebush Bay and the Rhodes peninsula on the east, which would be completed by 2016.
<img src="/images/stories/2012/12/homebushbridge2.jpg">
A total of 68 submissions were received during the public exhibition period for the bridge's environmental assessment, with 55 submissions identified as supporting the proposal.
Consideration for future light rail was sought from Parramatta City Council, which has been developing a light rail concept for Western Sydney including a potential corridor from Parramatta to Concord via Wentworth Point/Rhodes.
 The proponents noted the bridge had suitablity for possible future conversion to light rail.
The bridge agreement will requires the develop syndicate to contribute funds for the anticipated cost of maintaining the bridge after its likely December 2016 completion.
<img src="/images/stories/2012/12/homebush2.jpg">
The amount is to reflect the anticipated operating costs of the bridge for 40 years from the date of completion of the bridge.
<img src="/images/stories/2012/12/homebushbridge3.jpg">
The bridge proposal is the latest in the vast rejuvnation that dates back to 1993, when Sydney was selected as the host city for the 2000 Olympics.
It triggered comprehensive remediation strategies for <a target="_blank" href="/news">Homebush Bay</a>, the suburb, and the neighbouring suburb of <a target="_blank" href="/news">Newington</a>.
Renewal of Homebush Bay has continued in the post-Olympic period marked most recently by the adoption of a 2030 Vision Master Plan for Sydney Olympic Park, continued redevelopment of Newington, continued remediation and redevelopment of Rhodes Peninsula and the urban renewal of Wentworth Point.
</body></html>

jchancellor-FAypfDUnLy

Homebush Bay bridge proposal nears, but developers seek 1,300 more dwellings

<html><body>
The final auction weekend for 2012 ended with not a bang but a whimper in the two major capital cities.
Sydney had about 550 auctions on Saturday, the last big auction day of the year with a 57.2% clearance rate which was slightly below the recent average, according to Australian Property Monitors.
The same weekend last year had a 50.9% clearance rate. 
There are about 50 still scheduled for next Saturday.
Sydney's inner west district's 70% success rate was bettered at weekend auctions by the 73% secured by vendors in the Canterbury-Bankstown district.
In Melbourne Saturday's auction clearance rate was marginally below trend at 57% from its 777 auctions reported to the Real Estate Institute of Victoria. Post-auction negotiations might see a slight lift given a preparedness of buyers and sellers to clinch a deal pre-Christmas.
The Melbourne clearance rate for the spring auction season was 62% compared to 55% last year and 66% in 2010.
The bulk of remaining sales in 2012 will be by private treaty with <a target="_blank" href="https://www.propertyobserver.com.au/auctions/twilight-auction-trend-to-cope-with-the-late-december-rush/2012120558308">the occasional twilight auctions</a>.
Many agents believe the 2012 spring/summer sales results provide a solid platform for when auctions resume in February.
 
</body></html>

Final 2012 auction weekend ends in whimper  

<html><body>
Prospects are looking somewhat brighter for the NSW central coast property market in 2013 with a large decline in mortgagee sales and the market consolidating over the course of 2012.
In-house records from property values Herron Todd White (HTW) show that instructions to provide mortgagee valuations in the popular retirement destination and lifestyle location were down by 36% over 2012.
HTW says it was “heartened” by the fewer mortgagee sales and “happy to see less of this work”.
But the valuation firm added that notwithstanding this improvement, “we understand that lender and mortgage insurers continue to closely monitor the region, indicating to us that the region remains vulnerable as owners struggle with mortgage payments and living costs”.
HTW says its prediction that the central coast market in 2012 would be the year of first-home buyers and investors proved accurate.
“At the half-time oranges break, we saw this as being correct and at the full-time siren, this appears confirmed.
“Once again, sales in the sub-$400,000 category accounted for a majority of the property sales on the central coast.
“This confirms reports from real estate agents that first home buyers and investors are sustaining the market,” says HTW.
Realestate.com.au has over 4,000 listings on the central coast, but only one property advertised as a mortgagee sale – a <a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-fountaindale-111892771">four-bedroom house set on a 6,700-square-metre semi-rural block in Fountaindale</a> listed with $700,000 hopes through Debbie Montgomery of McLachlan Partners Long Jetty.
The property's asking price has been reduced from $749,000 after failing to sell at auction in November. RP Data records show the property was available for rent in October at $1,600 per week.
Realestate.com.au records 28 mortgagee-in-possession sales since the start of the year.
HTW says there was a “distinct level of neutrality” about the central coast property market in 2012, with the “odd surprise, but no headline grabbing record sales or bargains”.
“At this point, we are a little way short of having confirmed figures for the year, but with the information available, we have concluded that it has been a year of consolidation and possibly getting back into a cycle of values that might remind us of years past.
“These were good times when plans and budget could be made without too many reviews,” says HTW.
The central coast, the ninth largest urban area in Australia, consists of two local government areas – City of <a target="_blank" href="/news">Gosford </a>and <a target="_blank" href="/news">Wyong</a> Shire.
HTW reports a 2.1% drop in dwelling sales in Gosford sales over the previous year with the median values down by about 2.3% during this period.
In the more volatile unit market, Gosford sales numbers were up by about 4.6%, with the median value falling by 3.8%
There was more sales activity in Wyong, with dwelling sales up by almost 6%, but with a fall in median value of around 1%.
Wyong unit sales were also up by an encouraging 1.7%, but the median sale price fell by close to 4%.
“The worry here is the 30% fall in vacant land sales, but with slightly higher median value," says HTW.
“A reduction in land sales in the Wyong LGA of 30% is better than the previous year, but indicates the statistics are correct when a slowing of building activity is mentioned. We look forward to seeing how this will change with the new first home buyer’s [$15,000] scheme for new dwellings coming into play."
As with weaknesses at the prestige end of the Sydney housing market, HTW notes that apart from Wyong land sales, the other segment that again shown the least activity during 2012 include were dwellings priced over $1 million.
</body></html>

lschlesinger-FZcF9M3vE6

Mortgagee sales decline 36% on NSW central coast as property market consolidates ahead of brighter 2013

<html><body>
The Singaporean hotelier Loh Lik Peng's Unlisted Collection: has secured two gateway buildings within the Central Park Broadway precinct with plans to convert the Clare Hotel and the former Carlton &amp; United Brewery's administration building into its first boutique Australian hotel.
With hopes for a late 2014 opening, Frasers Property last week  lodged the plans for the 60-bed hotel, to be owned and operated by Unlisted Collection:, which is undertaking the $20 million redevelopment.
<img height="273" width="470" src="/images/stories/2012/12/kensington1.jpg" alt="kensington1">
Two signature restaurants fronting Kensington Street, a rooftop bar and swimming pool, and a dedicated dessert restaurant are among the plans currently on public exhibition until February 1 with the Department of Planning and Infrastructure.
Construction works totalling 4,600 square metres are expected to commence in mid-2013.
Unlisted Collection:’s Central Park property will consist of 60 rooms.
The chief executive of Frasers Property Australia, Guy Pahor, said the reuse of the two heritage buildings would be a cornerstone of the Kensington Lane precinct – "a charming urban laneway of predominantly heritage terraces and buildings, slated to become an eclectic food, beverage and entertainment destination".
The Central Park concept plan was approved in 2009 with retention and adaptive re-use of 33 heritage buildings a key aspect of the precinct’s masterplan. 
Frasers Property Australia which sold the two buildings had wholly owned the Kensington Street precinct, held separately to its joint venture partnership with Sekisui House on the majority of the Central Park project.
Unlisted Collection: has retained Tonkin Zulaikha Greer Architects to design the $20 million adaption. The two heritage buildings will bejoined by a contemporary steel and glass building, spanning the existing laneway.
Heritage features such as timber panelled boardrooms and historic CUB entertaining areas will be retained, with contemporary additions.
Launching its first boutique hotel, Hotel 1929, in Singapore in 2003, Unlisted Collection: has since expanded to operate six hotel properties and 11 restaurants, located in Singapore, London and Shanghai. The properties include New Majestic Hotel and Wanderlust in Singapore, Town Hall Hotel and Apartments in London, and The Waterhouse in Shanghai.
</body></html>

Kensington Lane precinct within Central Park Broadway to be Singaporean hotelier's first Australian hotel

<html><body>
{qtube vid:=tzRK9OYDCW4&amp;feature=plcp}
 
<img width="470" src="/images/stories/2012/12/benboyd.jpg">
In our Purchase or Pass segment this week Chris Gray is joined by Warren McCarthy, the managing director at McCarthy Business Consultants, to check out another potential investment for someone on a budget that is trying to find something affordable close to the city but not in it.
It’s a one-bedroom unit in a block of 15 units, 4.7 kilometres from the CBD and less than one kilometre from the ferry. The unit is 60 square metres and has sunlight coming in from both sides. It has fantastic views of the city and harbour bridge from the lounge and balcony area. It gets $500 a week rent, which equals a 5.4% return.
Chris Gray: I guess to start with, if you have a budget of $500,000, you don’t get much for your money these days, do you?
Warren McCarthy: You certainly don’t, and that potential return you’re referencing of 5.4% is pretty good. The size of the dwelling of 60 square metres is good for a couple, and there’s certainly room to move instead of being too pokey. It sounds like it’s in a pretty good space there, Chris, with the views, and capturing the dear old Harbour Bridge. I think not a bad entry point for that type of location.
Chris Gray: Most of the time we’re not talking about location because we’re always trying to get into the intimate details but obviously we can’t pretend it’s Melbourne or Perth because it’s pretty much Sydney all over, isn’t it?
Warren McCarthy: Sounds like it downtown Sydney Harbour views, and that’s quite rare and good for a long-term capital growth strategy, and I think real estate should always be considered in that regard, but good entry level.
Chris Gray: One thing I’m always after is sticking to a block size of 12 units or so, but it certainly fits 15, do you think that makes much difference?
Warren McCarthy: Not really. I think it’s certainly within control and understanding of your levies of what’s going to go on in that building, rather it be 70 or some sort of huge number like that. It’s well within a reasonable number.
Chris Gray: Something that costs no money but can add a lot of value is light. When you’ve got light coming in from both sides of the building it makes a hell of a lot of difference. Obviously you used to be in real estate sales and on the financing side, how much difference does it make to try and sell an apartment that’s nice and light?
Warren McCarthy: Without a doubt, the right aspect is what sells property and if the sun’s shining in that just adds that extra element to the attractiveness to the buyer and so it is a good point to have as part of your ownership of that particular investment.
Chris Gray: A lot of the time in a perfect world, most of us would probably go for a two bedroom if we had the money, but obviously there’s limited budgets on this question. But having something unique like the Harbour Bridge can that make the be all and end all difference, the difference between selling a unit and not selling it?
Warren McCarthy: That can certainly help put the sale right across the line. If it’s always going to have those views and hopefully they’re never obstructed in the future. If it does have those views, it’s always going to be that lovely tick in the right box for that sale to be made and at a premium price because of that rare view of the Sydney Harbour.
Chris Gray: Especially if you have a foreigner just to tell his mum back in the UK or wherever he comes from, I can see the Harbour view.
Warren McCarthy: And for $500,000 at this level, good price.
Chris Gray: So purchase or pass for you?
Warren McCarthy: Definitely purchase for me in this particular climate.
Chris Gray: It is still possible to still buy near the city, in a high capital growth location and get value for money and a high rent return. There’s always going to be a limited market for those who can pay $500 a week for a one-bedroom unit but because it’s large it can still fit two people in very comfortably. So if your budget is restricted, I say I would be happy to purchase this one, so I give it a purchase as well.
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.
</body></html>

chrisgray-pn7di3ceFk

Purchase or Pass? A Neutral Bay investment for someone on a budget

<html><body>
The Sydney rental market tightened during the month of November, dropping 0.1% to a vacancy rate of 1.8% - according to a report from Real Estate Institute of New South Wales.
The outer suburbs of Sydney dropped the most, with a decline of 0.6% to 1.6% total vacancy rate.
The inner suburbs – within 10 kilometres from the CBD – went against the trend to rise 0.1% to a 1.7% total vacancy.
The middle suburbs – 10 to 25 kilometres from the Sydney CBD – were steady during the month of November at 2.1%.
There were also vacancy drops in Illawarra and Wollongong.
Illawarra declined 0.2% to 2.2% and Wollongong dropped 0.1% to 2.5%.
“The most dramatic change in the state was recorded in the outer suburbs of Sydney, with a fall of 0.6% to 1.6%,” says REINSW president Christian Payne.
“In fact, since August 2012, the vacancy rate in the outer suburbs of Sydney has fallen from a high of 3.1% to 1.6%, a level last seen in March 2012, when the vacancy rate was 1.5%.”
Newcastle also experienced a decline of 0.4% to 1.2% but the Hunter as a whole stayed steady at 1.7%.
Coffs Harbour experienced a decline of 0.2% but continues to have the highest vacancy rates in the state at 3.4%.
The Murrumbidgee continues to grow with a vacancy rate of 1.5%, an increase of 0.1%.
Albury holds the lowest vacancy rate at 1.4%, a drop of 0.2% from October.
“The reduction in interest rates by the Reserve Bank of Australia at their board meeting in December is likely to help stimulate investment in the residential property market. This should have a flow on effect in 2013,” says Payne.
</body></html>

Sydney rental market tightened in November to 1.8%: REINSW

<html><body>
Rainham, the ancestral residence of leading Australian real estate family the Raines, fetched $500,000 at its recent auction.
<img src="/images/stories/2012/10/rainham.jpg">
The Bathurst property sold to musical couple Richard and Suzy Miller, from Stanmore in Sydney. The couple also own a weekender at Rockley, an old parsonage purchased in 1972 that will shortly be put on the market.
Rainham was built in 1832 by Captain Thomas Raine, the father of Thomas Jnr, who co-founded Raine &amp; Horne with Joseph Horne in 1883.
Captain Raine, a mariner, was one of Australia’s earliest entrepreneurs, establishing Australia’s first whaling station at Twofold Bay in Eden on the NSW south coast.
“The listing of Rainham for the first time in 150 years generated a great deal of publicity and buyer enquiry, and it’s terrific this significant home sold at auction,” says selling agent John Fagan.
Fagan, from selling agency Raine &amp; Horne Bathurst, says Rainham attracted 60 to 70 enquiries and about 30 inspections.
Richard Miller plays the timpani in the Sydney Symphony Orchestra, and Suzy Miller is a retired flute player who now teaches.
</body></html>

Rainham at Bathurst sells to Stanmore muso couple

<html><body>
Lights, camera, action! Well, perhaps not within the court room. However, a three-day court hearing has been scheduled for May 2013 when the actor Toni Collette and her musician husband, David Galafassi, will be due in court being sued over their failure to settle on an alleged $6.35 million Paddington terrace purchase.
The May 13 to May 15 hearing date was scheduled this week by the duty judge in the NSW Supreme Court equity division.
In October 2011 the couple reputedly signed a contract to buy a double-fronted Paddington terrace from Susie Kelly, the co-founder and owner of Industrie clothing with her husband, Nick.
The Stewart Street house <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" target="_blank" rel="nofollow">was snapped up</a> – quite early in its marketing campaign through McGrath agent Ben Collier. 
However the Paddington terrace has since been been resold for $5.5 million, so the entertainment industry couple face an $850,000-plus claim against them for the difference.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house sits on a 360-square-metre block.
The entertainment industry couple made their alleged decision not to proceed with the Paddington purchase after they struggled to find a buyer of their <a href="/news">Bronte </a>house.
Their 1885 Bronte weatherboard cottage that cost $4.4 million in mid-2009 struggled to find a buyer despite being tipped to sell for around $900,000 less than their purchase price.
Collette and Galafassi instead bought back at Bronte, swapping homes with <a href="https://www.propertyobserver.com.au/title-tattle/actor-toni-collette-changes-her-mind-over-paddo-and-buys-again-in-bronte-title-tattle" rel="nofollow">the buyer of their own $3.5 million house</a>.
The Kellys bought on Kutti Beach at <a href="/news">Vaucluse </a>last March for $15.5 million, so incurred a land tax charge on the redundant Paddington property.
So their damages claim against the entertianment industry couple also includes a claim for $43,516 in state land tax and interest for four months.
The $6.35 million sale of <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" target="_blank">the five-bedroom home </a>was allegedly due to be settled by late December 2011, but Collette's lawyer, David Carr, told the Kellys' lawyer in an email on New Year's Eve last year his clients intended "not to proceed" with the purchase.
Collette also sent an email to Nick Kelly on February 24, telling him the couple had decided to <a href="https://www.propertyobserver.com.au/title-tattle/actor-toni-collette-changes-her-mind-over-paddo-and-buys-again-in-bronte-title-tattle" target="_blank">buy another house in Bronte</a>. 
The Hollywood entertainment industry couple claim they do not have to pay the land tax that the Kellys were hit with given their move into a Vaucluse residence.
They also claim they dont have to pay the interest on the $6.35 million as there was no agreement to "complete the sale" by late December.
Collette and Galafassi are also arguing the vendors resold the property under value.
They claim the price ought to have been $6.25 million at auction, according to documents filed in the Supreme Court.
</body></html>

Actor Toni Collette and musician husband, David Galafassi, have May 2013 court performance

<html><body>
A two-tier unit and townhouse market is set to emerge in the NSW Riverina town of Wagga Wagga, with a number of new developments under construction aimed at the upwardly mobile and retiree end of the market, as the region benefits from economic growth and resource-related activity.
Located 450 kilometres from both Sydney and Melbourne, <a target="_blank" href="/news">Wagga Wagga </a>is NSW’s largest inland city, with a population of 63,500 people.
A recent Sydney Morning Herald report notes the development of a strong restaurant culture in Wagga Wagga, the launch of the National Art Glass Gallery and the city becoming a conferences hosting hub, with accommodation offerings such as Carlyle Suites featuring 21 upmarket suites and apartments.
In his column on Property Observer today, <a href="https://www.propertyobserver.com.au/new-south-wales/regional-property-markets-outperformed-capital-cities-in-2012-terry-ryder/2012121258440" target="_blank">Terry Ryder </a>names Wagga Wagga alongside <a target="_blank" href="/news">Dubbo</a>, <a target="_blank" href="/news">Tamworth</a>, <a target="_blank" href="/news">Gunnedah</a>, <a target="_blank" href="/news">Mudgee</a>, <a target="_blank" href="/news">Orange</a>, <a target="_blank" href="/news">Goulburn </a>and <a target="_blank" href="/news">Albury </a>as regional locations in NSW that he expects to outperform capital city markets.
"NSW is blessed with many strong regional centres that are a lot more affordable than Sydney and have provided much better capital growth over recent years," says Ryder.
Two of the biggest developments under construction in Wagga Wagga are the Mill Residence and The Grange Village, which will add 282 units and townhouses to the Wagga market by 2014- 2015.
<img src="/images/stories/2012/12/waggamill2.jpg">
The Mill Residence is being built on the historic Murrumbidgee Flour Mill site (pictured above), with the first stage consisting of 52 apartments ranging from modern two-bedroom apartments through to luxury penthouse apartments.
Two-bedroom units in The Mill Residences, being developed by Interlink Wagga Central, are priced from $360,000, with a three bedroom selling from $470,000.
“The higher prices asked by the developer of this project are a show of confidence in the Wagga market. Sales levels in this unique development will determine the strength of demand for luxury strata-titled product in this regional market," says PRDnationwide NSW analyst Oded Reuveni-Etzioni.
The Grange Village (pictured below) is being developed by Nash Bros Constructions and set within 22 hectares of landscaped gardens and is aimed at over-55 retirees featuring two- and three-bedroom villas.
<img src="/images/stories/2012/12/grangewagga.jpg">


<hr class="system-pagebreak">
Another retiree community, Estella's Settlers Village, is expected to expand with new townhouse to be built with serviced apartments selling from $139,000 and self-contained villas from $259,000.
Both retiree developments come as the healthcare and retirement sector expands in the region, led by the Wagga Wagga Base Hospital redevelopment and an increase in the number of retirement units across the city.
The new developments are set to create a dichotomy between high- and low-end products, says Reuveni-Etzioni, with older villas remaining an affordable option to first-home buyers, investors and retirees.
In the past six months to September 2012, 45% of medium-density dwellings have sold for less than $200,000, while 47% of villas and units have sold in the $200,000 to $300,000 price range.
Sales in the $300,000-plus bracket averaged 12% of sales.
Reuveni-Etzioni says there is evidence of the region's economic growth across all major property sectors.
"The expansion of the [Bomen] Business Park is underpinned by a new oil refinery and an integrated oil-seed processing plant, while on the retail front a new Masters Warehouse has entered construction phase," he says.
“This stable and diversified economy provides employment for locals and attracts new residents from other parts of the state.”
In RP Data’s Rent vs Buy report, three Wagga Wagga locations are included where buying could be cheaper than renting.
These include <a href="/news">Lake Albert</a>, where the median unit rent is $275 per week and the median unit value is $196,000, <a href="/news">Ashmont </a>(median rent of $164, median value of $146,000) and <a href="/news">Tolland</a> (median rent of $162, median value of $137,000).
About 250 properties were flooded when the Murrumbidgee River burst its banks in early March this year.
</body></html>

Latest New South Wales Property News

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Editor's Picks

Developments

New apartments

New townhouses

News

Latest New South Wales Property News

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News