One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

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

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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The decluttering of the Princeton, Double Bay penthouse of the late interior design doyen Leslie Walford has perhaps given price clarity.
{yoogallery src=[images/stories/2012/09/oct3penthouse]}
It was listed for sale last month with $4.5 million-plus hopes through Christies International agent Ken Jacobs, but now the apartment comes with a $4.95 million asking price.
The contents of the Walford apartment were sold at weekend auction through Mossgreen. The sales tally suggest around $540,000 was grossed, including the buyer's premium, from about 400 household items.
<img src="/images/stories/2012/11/walford1.jpg">
The items represented five decades of accumulation by the noteworthy decorator to old Sydney money – and some later arrivistes.
They were listed by Walford's partner, Colin Davies.
<a target="_blank" rel="nofollow" href="https://www.kenjacobs.com.au/570519/">The penthouse </a>with 279-square-metre garden terracing sits atop the 1939 Art Deco building with northerly views across the harbour to Manly.
The interiors showcased the tastes of Walford, who retired just five years ago after an international career spanning five decades.
It was built with polished timber floorboards, high vaulted ceilings, ornate cornices, curved bay windows and french doors.
The initial Double Bay purchase cost $125,000 in 1975 from Sabrina Van der Linden.
<img src="/images/stories/2012/11/walford4.jpg">
The apartment, which comes with 500 square metres of space, was consolidated with another purchase in 1978 from the photographer Ann Riddell.
More Princeton penthouse photos on page 2
 
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Born to parents who celebrated with two bottles of 1918 Bollinger, after his 1927 birth, Walford was sent off at the age of 11 to England. (The champers bottles, below, remain unsold with a $100-150 estimate.)  
<img src="/images/stories/2012/11/walford3.jpg">
After time in the British Army, he studied interior design in Paris. He had self-deprecating pretensions, often joking he was conceived at the Ritz. Then hastening to add it was the <a target="_blank" href="https://www.photosau.com.au/BlueMountains/scripts/ExtSearch.asp?SearchTerm=004039">Ritz Leura, Blue Mountains guesthouse </a> rather than the Paris hotel one he loved so much.
His penthouse apartment ceiling was painted with a bamboo and foliage pattern and suspended from this was a large Fortuny silk lantern from Venice.
{yoogallery src=[images/stories/2012/09/oct3penthouse2]}
"This traditional Chinoiserie effect is rather lovely in European decorating," Walford once told then SMH Sydney Magazine home decor columnist Margie Blok.
She was among the auction crowd that watched the Fortuny fabric tiered ceiling light (below) fetch $3,172. 
<img src="/images/stories/2012/11/walford2.jpg">
Among the dearest items was a pair of Louis XV carved walnut fauteuil, signed Blanchard, French 18th-century armchairs that fetched $26,840.
A pair of Italian Blackamoor figures of two Nubian men, 19th-century, sold for $23,180.
A 19th-century French white porcelain and gilt bronze mounted elephant and pagoda form clock century fetched $7,320.
One of the cheapies appeared to be the Ross Watson painting, James II and youth, 1986 oil on canvas which fetched $3,416. His works are in significant private collections including Sir Elton John, James Wolfensohn and the British peer Lord Cholmondeley. <a target="_blank" href="https://www.rosswatson.com/index">Watson</a> was a 1990 Moet &amp; Chandon finalist.
The Historic Houses Trust (HHT) has become the home of some papers from the archive of the late Leslie Walford.
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Interior designer Leslie Walford penthouse contents gross about $540,000 

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Sydney's auction housing market regained its 60% plus success rate status at weekend auctions.
There was a preliminary 62.1% clearance rate, according to Australian Property Monitors.
The clearance rate in the prior weekend initially scraped in at 60.3% which ranked as the eighth consecutive result above 60% - and sat as the best sequence of results since autumn 2010.
However the revised APM tally was 58.6%.
Dr Andrew Wilson, the APM senior economist, notes although Sydney's auction clearance rates are higher than those recorded at the same time last year, the number of properties being offered each weekend remains consistently below last year's levels.
"While buyer momentum has gradually built during spring, sellers have remained relatively subdued," Dr Wilson said.
He says the prestige market was the main culprit, with the number of properties for sale in the eastern suburbs, lower north shore and northern beaches continuing to be "restrained."
"These are also the suburbs where weekend auction clearance rates continue to fluctuate."
The APM data shows the inner-west and Canterbury-Bankstown areas, however, remain hot spots both for listing numbers and auction clearance rates.
A clearance rate of 64% was recorded this weekend in Melbourne compared to 59% last weekend and 49% for the same weekend last year, according to the Real Estate Institute of Victoria.
"This time last year was the low point for the 2011 spring selling season and the result this weekend illustrates the improvement in the market this spring," said Enzo Raimondo, the chief of the REIV.
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Better than last year weekend auctions suggests buyers momentum

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{qtube vid:=JKeZ95HLtKY&amp;feature=plcp} 
In our Purchase or Pass segment this week we take another look at affordable investing around the inner cities with Arthur Charlaftis, general manager of sales and operations at Realestate.com.au. What can you buy with a limited budget that is still likely to give you some growth in the future?
<a target="_blank" href="https://www.rs.realestate.com.au/property-studio-nsw-north+bondi-107290495">This Bondi property</a> is 8.9 kilometres from the city. It’s a small studio unit in a small block of units literally right across the road from Australia’s most iconic beaches. It cost $293k last year and would rent in excess of $300 per week. So over a 5% return. There’s a surf shop and a café underneath you on the street level so you’re not going to go hungry or run out of beach gear. The unit offers no parking or ocean views but you can’t get any closer to the sand. So, Arthur, how would that suit you as a bachelor pad in your earlier days?
<img src="/images/stories/2012/11/bondipurchasepass.jpg">
Arthur Charlaftis: Obviously it’s an unbelievable property. I think it’s well priced and good return so it makes a lot of sense.
Chris Gray: Certainly to buy something for under $300,000. It just seems ridiculous that you can buy in <a target="_blank" href="/news">Bondi Beach</a> and you’re there. Obviously we don’t have sizes, and the pictures show it’s not the most salubrious place, but it’s still a unit.
Arthur: From some of those pictures we know it’s opposite the beach so we know maintenance for that kind of property will always be tough. But across the road from the beach great location and a pretty reasonable price.
Chris: And looking at some of the negatives. Obviously no parking is a bit of a nightmare. If you’re right on the beach it’s even more of a nightmare because there’s no way you’re going ot get a park on a Saturday. But maybe for some of the youngsters don’t need a car.
Arthur: Transportation is pretty good, but I agree. Parking in summer, if you wanted to have a car it would be problematic.
Chris: In terms of noise there would be a few parties going on during the summer. If you like your sleep it’s probably not the place for you.
Arthur: Yeah, you’re got the parties at the night and early beachgoers in the morning, so you could be hit at both ends. But part of being there is participating in that kind of lifestyle.
Chris: These guys are probably the ones causing the chaos. Another thing is obviously we talk about these small apartments, the banks quite often don’t like these. They get more cautious.
Arthur: They do, but obviously the location is pretty good. So it’s a pretty reasonable investment. The other thing is if you took a long-term view it would be interesting whether you could buy the components over time. And obviously if you did that site would be worth a lot of money.
Chris: Exactly. I think there’s only half a dozen units in the block. so effectively a couple of million dollars. They had the Pacific sale down there and I think they had something like 80% or 90% were selling, and it was $1.5 million for a two-bedroom unit at the Swiss Grand. I don’t know if you even got a view for that. There’s plenty of money down there. So purchase or pass?
Arthur: This would be a purchase for me, definitely.
Chris: I think it’s a cracking unit, and if you are into fitness, fresh air and surfing you can’t get much better than that at such an affordable price. No parking would be OK for the youngsters as would the noise, as they would probably be the ones making it. Could also be a great one for a super fund if the banks are happy to lend on it. Probably not for the middle-aged owner-occupier who wants peace and quiet. All in all I think it’s great for the money and would go for a purchase.
Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/" rel="nofollow" target="_blank">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? Chris Gray and Arthur Charlaftis on a Bondi studio

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The Palm Beach retreat of the late Lady (Sonia) McMahon has been sold for $2 million at its executors' auction. There were three registered bidders.
The three-bedroom, three-bathroom Ralston Road Palm Beach weekender had been in the Burton-Taylor family since bought for $29,575 in 1968.
The unrenovated brick-and-timber 1950s house was designed by architect John Suttor. The LJ Hooker estate agent <a target="_blank" href="https://palmbeach.ljhooker.com.au/2JEF6Z">David Edwards </a>was suggesting a $2.25 million plus price estimate pre-auction for the 1,350-square-metre property, which Lady McMahon had made available for her hairdresser's usage.
Lady McMahon, widow of the former prime minister Sir William McMahon, was 77 when she died in April 2010. The estate is being sold off by their children, the Hollywood actor Julian McMahon and his two sisters.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/julian-mcmahon-and-sisters-to-split-%24625-million-proceeds-from-lady-sonia-mcmahons-home-sale/2012070255376">The sibblings have sold two Bellevue Hill properties since May last year. </a>
The latest sale lifts the sales tally from $15.25 million to $17.25 million – equating to about $5.8 million for each child, albeit less costs, which include sizeable land tax charges.
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Lady Sonia McMahon's Palm Beach retreat sells 

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The historic Camden residence Dr Crookston’s house has been offered for sale for only the second time in the past 100 years, with price expectations of $1 million plus.
Located at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-camden-112010871">75 John Street, Camden</a>, the two-storey Victorian residence has elevated views over <a target="_blank" href="/news">Camden </a>and the Blue Mountains.
Owners Paul and Margaret Bowring have owned the property for 33 years.
The Macarthur family originally built the house circa 1860s for their overseer Robert Druitt, but an angry bull killed him before he had the chance to live in the house.
The house's name come from its later ownership by Dr R.B. Crookston, who conducted his medical practice at the house from 1913.
Dr Crookston was the mayor of Camden from 1932-1934. 
The property, last sold in 1979 for $145,000, comprises four bedrooms and two bathrooms.
There are 12-foot-high (3.7-metre-high) ceilings, ironbark floor boards, open fire places, French doors, antique light fittings and decorative cast-iron lace.
The grounds have a grass tennis court and rear stables converted into a double garage.
“We’ve had many happy times here with friends but it’s time for another family to enjoy the home now,” says Margaret Bowring.
Dr Crookston’s house is being sold by Stuart Davies from <a target="_blank" href="https://rwmg.com.au/">Ray White Macarthur Group Camden</a>.
“This is a very special offering,” says Davies.
"Rarely does a property of this calibre come on to the market, let alone one situated so close to the heart of the town.”
The house on its 2,536-square-metre holding will be auctioned on December 1.
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Dr Crookston's Camden house offered for only the second time in 100 years

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West Head House, designed and built by Peter Stutchbury in the Clareville bushland, has been listed for sale.
Designed 25 years ago over a two-year period, it's one of Stutchbury's earliest houses, and his home until its upcoming sale.
Peter Stutchbury has since designed houses around the world, most famously for the Japanese fashion designer Issey Miyake.
Stutchbury recently recalled it was in 1980 that 75 Hudson Parade, a vacant battleaxe block, was bought by the family who'd holidayed at <a target="_blank" href="/news">Clareville </a>from the early 1960s.
It was after graduating from Newcastle University that Stutchbury decided to live in the pristine bushland environment where koalas roamed in the adjacent spotted gum forest.
Its views overlook Pittwater toward Longnose Point and the Ku-Ring-Gai Chase National Park.
With its small façade to the west minimising sun and wind load, the house was designed on return from an extended stay living in and studying the highland villages of Papua New Guinea.
"The house has a wonderful sense of the lightness of being," Stutchbury suggests about the house, which is a composite of timber and steel lightweight construction.
"The house is simply a conduit for healthy living, for anyone who seeks serenity this house promotes that quality," says the marketing material prepared by Marcus Lloyd-Jones at <a target="_blank" href="https://www.modernhouse.co/property/1204807-west-head-house">Modern House Estate Agents</a>.
It has been home to a family for over 23 years – the three children: Bronte, 21, Noah, 19, and Cleapatra, 12, all born and nurtured in and around the West Head House environment.
It's five bedrooms with its gross internal area of 213 square metres and an 111-square-metre gross external area. Its set on a 746-square-metre block with landscaping by Phoebe Pape.
It's been featured in numerous books including Peter Stutchbury: Of People and Places: Between the Bush and the Beach, Pesaro.
The family are hopeful of $1.5 million plus after which they will head to the oceanside of the Pittwater peninsula to build a new home. 
Photography: © Michael Nicholson
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West Head House, the Peter Stutchbury Clareville family retreat, listed

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The number of home loan commitments to NSW first-home buyer numbers has risen for four consecutive months with the state appearing to lead a first-home buyer recovery, according to ABS housing finance figures.
September housing finance data show that first-home buyers as a proportion of the total market reached 19.3% in September, their highest market share since January and  as pointed out by CBA senior economist Michael Workman above the long-run average of 18.5%.
Andrew Hanlan, senior economist at Westpac, said further gains were to be expected from first-home buyer market.
But will they come from NSW?
A cursory look at the evidence, suggests the state is leading the revival - in raw terms loans to NSW first-home buyers are up a healthy 21% since June.
NSW is also the only state to record a steady monthly increase over this period with almost the exact opposite happening in Victoria, where loans to first-home buyers have fallen around 20% since June.
The number of loans to first-home buyers are largely unchanged in Queensland, South Australian and WA over this period.
The improvement in NSW would suggest a return of the key first-home buyer market in a significant way.
But it could be nothing more than rush by this sector of the market to access the $7,000 first-home owner grant which expired on September 30 replaced by a new $15,000 hand-out but only for those building or buying a new home.
Market observers like Angie Zigomanis at BIS Shrapnel have argued that incentives pull demand forward but create a vacuum when the incentive ends.
Ray White chairman Brian White told Property Observer last week that first-home buyer incentives distorted the market, “and not in a healthy way”.
White calls the increased NSW $15,000 handout for new homes “no longer a first-home buyers  but a builders incentive” and a "deceit".
For the NSW first-home buyer rally to be significant the pick-up in first-home buyer numbers will need to continue into October and beyond.
There will also need to be a pick-up in NSW first-home buyers taking out loans to buy or build new houses.
The ABS data does not break down the data into type of buyer so ascertaining this trend is difficult.
The data that is available shows a 16% overall rise in loans to NSW borrowers for the purchase of new dwellings since June which is encouraging.
However, loans for the construction of new homes in NSW have fallen about 20% over the same period – economists point out that a recovery in construction takes longer to filter through.
In the case of Victoria, the slump in first-home buyer numbers may also have something to do with ending of government incentives with both the $13,000 first-home bonus and the $6,500 regional bonus ending on June 30.
They may also be waiting to take advantage of increased stamp duty savings concessions, which formally begin on January 1, 2013 (but take effect for purchases<a target="_blank" href="https://www.propertyobserver.com.au/residential/victorian-first-home-buyers-increased-stamp-duty-benefits-take-effect-with-savings-of-up-to-%243100/2012110457604"> beginning in November, given 60 day settlements</a>) with the potential to generate potential savings of as much as $3,000.
The $7,000 first-home buyer grant still remains in place in Victoria for both existing and established homes.
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NSW first-home buyer numbers trending up could be a rush or a recovery

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Mirvac sold out its popular terraces home offerings in Eden, in its latest release at Harold Park, Glebe, just hours after launching sales to customers at the weekend.
<img src="/images/stories/2012/11/eden.jpg">
More than $66.5 million worth of real estate was transacted in the weekend launch, in which the majority of the second marketing stage dwellings sold.
Prices ranged from $499,000 for a one-bedroom open-plan apartment to over $1.8 million for a three-bedroom terrace.
Harold Park's Victorian terrace homes were completely sold within hours of their release.
Eden's public launch will be this Saturday (November 17).
"There has been an extraordinary level of interest in Eden, which we anticipated given its premium location on the parkland," said John Carfi, Mirvac's development apartments chief.
"To have sold out of terraces with an average price of over $1.7 million in a single day is remarkable and characterises the exceptional attributes of Harold Park."
Since the November 2011 launch of the first precinct, Locarno, more than 300 apartments and terraces have sold at Harold Park.
It is just with the past year that Harold Park has gained development approval from the City of Sydney for its master-plan of 1,250 dwellings.  
<img src="/images/stories/2012/11/eden3.jpg">
In September site wide infrastructure works commenced with construction of the first stage Locarno underway.
Carfi says the strong pre-sales of Eden could allow both buildings to be constructed simultaneously.
Eden is named after the 1971 Miracle Mile winner Mount Eden, which sprinted to a remarkable finish after two false starts!
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No false start as Mirvac secures Eden, Harold Park terrace sellout 

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The Vaucluse harbourfront reserve home of Prudence MacLeod, the oldest child of Rupert Murdoch, and her husband, Alasdair, has been reportedly sold.
The quaint Carrara Road property sold quietly last week through McGrath Estate Agents for about $13.25 million in an off-market deal.
The three-storey residence, which sits on a 1,060 square metre holding, last traded in 2002 for $7.5 million. Its price growth over the decade reflected a mild 5.6% annual growth rate. Its growth in the immediately prior five-year sales period had reflected 10.6% annual growth.
Prudence MacLeod's mother, Patricia, was Rupert Murdoch's first wife, whose marriage to him ran from 1956 to 1966.
Another <a target="_blank" href="/news">Vaucluse </a>sale was secured for the <a target="_blank" href="/news">more glamorous offering </a>of the globetrotting interior designer Serena Crawford and her husband, Murray, whose Hopetoun Avenue residence sold through Alison Coopes for about $5.5 million.
The architect Bruce Stafford remodelled the three-level house after it cost $4.29 million in 2009.
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Half-hearted 5.6% annual price growth on the Vaucluse harbourfront

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Restaurateurs Matthew And Irene Sen have listed their recently built North Bondi home designed by Luigi Rosselli. Its <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/192-hastings-parade-north-bondi/Property-Details-buy-residential-4663007">the 2011-built house </a>that's also been available at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/192-hastings-parade-bondi/Property-Details-rent-residential-4622845">$4,000 a week </a> rental.
The original intent of the home was even far grander, with initial approval for a three storey house with pool, however, according to the Luigi Rosselli website, the project was a child of the global financial crisis when <a target="_blank" href="https://luigirosselli.com/Hastings-Parade/">scaled back to two storeys to meet the changing expectations of the clients</a>.
The 420-square-metre Hasting Parade block on the clifftop Ben Buckler peninsula cost $915,000 in 1998.
The four-bedroom, two-bathroom house was built with an "experimental attitude" to materials with its design intended to last in the extreme coastal environment.
It comes with a custom corrugated concrete façade.
The architects note their experimental attention to craft was also explored inside through the hand-woven cane screen surrounding the stair that enlivens the large family room and kitchen.
It's listed through Ric Serrao at Raine &amp; Horne Double Bay for December 12 auction.
Another Raine &amp; Horne listing on the clifftop is the <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/249134">the unrenovated 172 Hastings Parade</a> with approval for a second floor, which has been scheduled for November 29 auction.
The last luxury Hastings Parade sale was sold through Ric Serrao for $8.2 million in 2010 of a 2007-built house designed by <a target="_blank" href="https://www.grantamon.com/index.php?section=47">Grant Amon Architects</a> with inspiration from early modernists, Neutra and Schindler.
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