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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Surry Hills ranks as the 23rd most stylish neighbourhood in the world, according to lifestyle magazine Complex, which was founded by American fashion designer Marc Ecko.
The ranking says <a href="/news">Surry Hills</a> is Sydney's main hub for fashion, with a number of notable businesses including Dear Pluto, Reuben Hills, Via Alley, Holy Kitsch! and Bourke Street Bakery.
“Crown Street, the heart of the neighbourhood, is where you'll find all of the restaurants, bars, and coffee shops,” author Julian Kimble writes.
<img src="/images/stories/2012/10/surrygraffiti.jpg">
“<a target="_blank" href="https://www.dearpluto.com/Home">Dear Pluto</a> offers retro styles and <a target="_blank" href="https://shop.viaalley.com/">Via Alley</a> provides the best stuff that countries like Japan have to offer. <a target="_blank" href="https://www.holykitsch.com.au/">Holy Kitsch!</a> is the place for art, collectibles, and Sugar Skulls inspired by Mexico's 'Dia le los Muertos'."
The ranking found the <a target="_blank" href="https://www.complex.com/style/2012/10/the-50-most-stylish-neighborhoods-in-the-world/">top 50 neighbourhoods</a> “where the cool kids congregate”.
“Whether it's the shops, the bars and restaurants, the galleries and museums, or just some unidentifiable vibe that the neighbourhood exudes, these are the places that emerge as destinations for unique fashion, style, and culture.”
“But it's more than just a fashion sense that make these 'hoods stand out—art, architecture, and a booming subculture scene are all factors that give some places the extra something that make them more stylish than others.”
Surry Hills ranks just behind Andrássy Avenue in Budapest and Vesterbro in Copenhagen with the top ranked neighbourhood listed as 1st Arrondissement in Paris.
The current median price for houses in<a target="_blank" href="/news"> Surry Hills</a> is $891,000 with a median rent of $705 per week for houses. For units the median price is $505,000 with a median weekly rent of $525, according to RP Data.
Surry Hills was the only Australian neighbourhood to make the ranking.
The top 10 most stylish suburbs according to the list are as follows:
10. Brera (Milan, Italy)
9. Central District (Hong Kong)
8. Ladbroke Grove (London)
7. Sodermalm (Stockholm)
6. Wynwood (Miami)
5. Kreuzberg-Friedrichshain (Berlin)
4. Gastown (Vancouver)
3. Soho (New York)
2. Harajuku (Tokyo)
1. 1st Arrondissement (Paris)
Surry Hills photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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awalsh-7Ub9EypybQ

Sydney's Surry Hills ranked 23rd most stylish neighbourhood in the world

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Sydney estate agent John McGrath says Sydney’s property market is on the rebound and entering the beginning of the next growth cycle, though the luxury market may still have to wait.
The founder and current chief executive of McGrath real estate McGrath says Sydney will experience some price growth in 2013 with the surrounding regional areas likely to follow within 12 months.
“I believe the real estate markets in most parts of Australia, certainly Sydney, are past the worst and heading for some blue skies in 2013,” McGrath says in his spring 2012 report.
“That’s not to say I expect either a straight line growth recovery or an instant uplift in prices
“However…we are through the worst and at the beginning of the next growth cycle. We have already seen Sydney median prices grow by just under 2% in the past 12 months.”
To back up his “gut feeling”, McGrath cites lower days on market; a return of investors; increasing rents; and increasing affordability as key signs of a recovery.
McGrath says selling times have dropped from 50-60 days down to 30-40 days while figures show 45% of AFG loans approvals have been for investors suggesting there’s a steady pipeline of investors waiting to buy.
He says bidder turnout has improved in line with higher clearance rates, which hit a two year peak of 68% in August.
McGrath says rents have continued to rise in most metropolitan regions metropolitan regions with the median rent for a three-bedroom house in Sydney increasing by around 5% to $420 per week this year while the median rent for a two-bedroom apartment grew by 6% to $425 per week.
“This both encourages tenants to consider shifting to home ownership and provides investors better yields,” McGrath says.
He says affordability has increased, particularly for first home buyers with home loan rates are around 50 basis points lower than their long term average and fixed rates sitting around 5.39%. He says AFG reported August was its strongest mortgage month for home loan applications in more than three years.
“So, as we look at these factors and observations, it seems to me that all things considered we will see price growth in Sydney in 2013.”
“The surrounding regional areas are likely to follow within 12 months. Historically, these areas have a lag time of 6-12 months behind the major metropolitan markets and I imagine this will likely be the case again.
“Having said that, the property market is also experiencing a two-speed turnaround. Properties under $1m are in strong demand whilst those above $2m are less so.
“Many of the factors I have outlined have greater impact on first and second homebuyers than they do on luxury property owners.
“The key catalyst for the upper end recovery will be the share market. Interest rates, rents and unemployment are not really influencing factors for the top end. Many luxury owners are still awaiting some clearer resolution on the macro economy and the Euro zone before jumping back into the market.
McGrath predicts rents will increase 4% to 5% over 2013 while sale prices for properties under $750,000 will increase 2% to 5%, property prices between $750,000 $1.5m will increase 5% to 8% and prices will remain neutral for sales above $1.5 million for the next nine months before increasing 10% in the 2014 financial year.
He does provide the caveat that if the ASX hits 5000 points the top end of the market will see rapid increases earlier than suggested above.
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Sydney prices recovering: John McGrath

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Units in Arncliffe, just west of the airport, recorded the highest growth in rents for all sectors in Sydney real estate market over the quarter.
Rents in Arncliffe rose 26.2% over the quarter to $530 per week, according to Australian Property Monitors figures.
A number of brand-new apartments are up for lease in the suburb, including units in Meriton’s new 307-unit building Fusion, where <a target="_blank" href="https://www.realestate.com.au/property-unit-nsw-arncliffe-408586779">two-bedroom apartments</a> rent for $590 per week.
A two-bedroom apartment in the building recently sold for $600,000.
The new Serenity building, a 182-unit development, has a number of units for lease.
<a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-arncliffe-408650307">Apartment G507</a> in the building recently sold for $559,000 and is offered for rent at $530 per week, giving a gross yield of 4.93%.
Though the market is dominated by newer developments, there are a number of older units in brick buildings available for rent.
Apartment 9 at 12 Queen Street was one such case. The most recent asking rent was $350 per week for the two-bedroom apartment, up from $290 a week in 2009. The landlords had been asking for $380 earlier this year but have since reduced their expectations.
<a target="_blank" href="https://www.domain.com.au/Property/For-Rent/Apartment-Unit-Flat/NSW/Arncliffe/?adid=7951059">Apartment 8</a> next door, is at a current asking rent of $355 per week, though marketing notes this is a reduced asking rent. It last traded for $230,000 in 2003.
Across Sydney, <a href="https://www.propertyobserver.com.au/landlords/sydney-and-perth-rents-hit-record-highs-apm/2012101057084" target="_blank">rents have hit record highs</a> as median house rents grew 4% over the quarter to $520 per week while unit rents were unchanged over the quarter after recording strong growth in the previous quarter.
Although unit rents remained unchanged over the whole of Sydney, units in some suburbs such as Arncliffe recorded massive growth over the quarter, as reported by Fairfax.
Arncliffe’s massive increase was followed by Granville, near Parramatta, where house rents grew 10% to $440 per week.
In third place was Edgecliff, in the inner east, where unit rents rose 9% to $545 per week.
<table cellpadding="0" cellspacing="0" border="0" width="417"><tbody>
<tr>
<td nowrap valign="bottom" width="64">
Type
</td>
<td nowrap valign="bottom" width="111">
Suburb
</td>
<td nowrap valign="bottom" width="87">
Median weekly rent
</td>
<td nowrap valign="bottom" width="155">
Change over the quarter
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Arncliffe</a>
</td>
<td nowrap valign="bottom" width="87">
$530
</td>
<td nowrap valign="bottom" width="155">
26.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
House
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Granville</a>
</td>
<td nowrap valign="bottom" width="87">
$440
</td>
<td nowrap valign="bottom" width="155">
10%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Edgecliff</a>
</td>
<td nowrap valign="bottom" width="87">
$545
</td>
<td nowrap valign="bottom" width="155">
9%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Balmain</a>
</td>
<td nowrap valign="bottom" width="87">
$595
</td>
<td nowrap valign="bottom" width="155">
8.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Fairlight</a>
</td>
<td nowrap valign="bottom" width="87">
$595
</td>
<td nowrap valign="bottom" width="155">
8.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Woolloomooloo</a>
</td>
<td nowrap valign="bottom" width="87">
$700
</td>
<td nowrap valign="bottom" width="155">
7.7%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Leichhardt</a>
</td>
<td nowrap valign="bottom" width="87">
$430
</td>
<td nowrap valign="bottom" width="155">
7.5%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">St Leonards</a>
</td>
<td nowrap valign="bottom" width="87">
$590
</td>
<td nowrap valign="bottom" width="155">
7.3%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Rockdale</a>
</td>
<td nowrap valign="bottom" width="87">
$470
</td>
<td nowrap valign="bottom" width="155">
6.8%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
House
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Chatswood</a>
</td>
<td nowrap valign="bottom" width="87">
$808
</td>
<td nowrap valign="bottom" width="155">
6.3%
<div></div>
</td>
</tr>
</tbody></table>
Source: APM
Rents fell in some suburbs, such as <a target="_blank" href="/news">Glebe </a>and <a target="_blank" href="/news">Haymarket</a>.
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Arncliffe leads top 10 rental growth suburbs in Sydney: APM

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Orcades, one of the largest oceanfront properties at Palm Beach, has failed to sell at its mid-week auction.
There was just the one bid at auction - and the $4 million offer was rejected by the auctioneer when the landmark 1,922-square-metre estate was offered in the Raine &amp; Horne auction room.
Bordered by bushland reserver and the oceanfront, the 1950s P&amp;O-style homes sits on three Whale Beach Road blocks.
The property has a 44-metre ocean frontage with views stretching from Palm Beach to the central coast and is set in lush gardens with frangipani trees and a pool
It's named after the ocean liner Orcades, which made her maiden voyage from London to Australia in late 1948 – and comes with an original mirrored artwork of the ship. It was the first Orient Line post-war new ship built, replacing the 1937 built Orcades. 
The four-bedroom house at <a target="_blank" href="https://www.palmbeachrealestate.com.au/sale/307whalebeach.htm">307-311 Whale Beach Road</a> had $6 million-plus hopes.
It has been owned since the mid-1970s by the late entrepreneur Michael Callaghan, who died in July last year. He secured the holding through a trust deed arrangement from sales consultant Barry Neary who had spent $117,000 to buy the property in 1975. It was previously briefly owned by A.B. Lincoln Real Estate who'd bought the holding from Manly newsagent James Thomson in 1975.
Michael Callaghan was a Channel Seven executive who became a distributor for Thames Television programs for three decades from around the 1970s.
His many British guests included Benny Hill, Des O'Connor, Sid James, Ronnie Barker and more recently some cast members from The Bill.
Callaghan was also an accomplished tennis player – a teenage contemporary of John Newcombe and Rod Laver and John Newcombe.
Orcades has yet to be given a public asking price by listing agents Glenn Lee and David Eden of Raine &amp; Horne Palm Beach.
Orades, the liner,  was<a target="_blank" href="https://iancoombe.tripod.com/id31"> laid up at Southampton in 1972 </a>and broken up at Kaohsiung four months later.</body></html>

jchancellor-FAypfDUnLy

P&O heritage-status beaches oceanfront Orcades, Palm Beach, sales prospects

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With $13 million-plus expectations, Geoff Cousins, the adman-turned-environmental activist and author, has listed his six bedroom beach house at Whale Beach.
Named ‘The Wedge’, after the famous surf beach break at the northern corner of Whale Beach, the home occupies nearly 1,440 square metres.
It is one of the largest beachfront land holdings in Sydney, with its rolling lawns flowing directly onto the sandy beach. It was more than 20 years ago when the Cousins family commissioned architect John Crawford to design the home, which was completed in 1991 with quintessential Australian beach elements.
Designed as three pavilions with living spaces adjoining vast timber decking, the weekend retreat suited the large family and stream of international guests who would visit over the summer.
The home has high pitched ceilings with striking timber beams, a huge fireplace constructed from river stones, soaring bookshelves in rooms with polished flooded gum and blackbutt floors.
"This property is arguably one of the best beach houses Australia has to offer," its Raine &amp; Horne Palm Beach listing agent Glenn Lee says.
Offers are due November 14 ,with Lee suggesting he expects to beat the current Whale Beach record of $13 million achieved for 245 Whale Beach Road in May 2007.
Cousins paid $1.45 million for the Whale Beach Road property in 1987.
 
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Geoff Cousins seeks $13 million-plus Whale Beach buyers

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Sydney’s prestige northern beach suburbs property markets remain weak, “with no sign of improvement" according to property valuers Herron Todd White’s (HTW) October market review.
According to HTW, the northern beaches of Sydney – comprising the suburbs of Pittwater, Manly and Warringah all the way to Palm Beach – traditionally are among the hardest hit when the overall Sydney market is soft.
“The first suburbs to show signs of softening tend to be the upper northern beaches suburbs, and the further north you go, the weaker the market tends to be.
“The main factor resulting in this trend is the number of holiday/weekender type properties.
“People who work in inner Sydney during the week may purchase a property on the northern beaches to get away for the weekend.
“When economic conditions remain soft, these weekend homes are often the first asset to be sold off by owners,” says HTW.
According to the firm, the trend of Sydneysiders selling their holiday properties on the northern beaches occurred during the GFC, and in the last 12 months there is “evidence of this pattern repeating itself”.
“With the global economic situation still unstable a turnaround in market conditions is unlikely in the foreseeable future.
A further factor contributing to the weak northern beaches market is the lack of transport, “which has always been a negative for the area”.
“Although relatively close to the Sydney CBD, public transport and worsening vehicle access due to traffic contribute strongly to the weakened demand for property, especially in soft market conditions.
“There have been many local government proposals to improve the roads into the northern beaches but we are yet to see any action taken,” says HTW.
Similar challenges facing prestige suburbs are noted by John McGrath in his Sydney spring McGrath report, who says the Sydney property market is experiencing “a two-speed turnaround”.
“Properties under $1 million are in strong demand whilst those above $2  million are less so.
“The key catalyst for the upper end recovery will be the share market. Interest rates, rents and unemployment are not really influencing factors for the top end.
“Many luxury owners are still awaiting some clearer resolution on the macro economy and the eurozone before jumping back into the market,” says McGrath.
<hr class="system-pagebreak">
The outlook for the North Sydney residential market – just across the city from the CBD – is a lot better, despite HTW witnessing a slight decrease in activity in the first-home buyers’ market and mid-market range in the last year and local agents advising that a lack of stock is slowing down the market.
“We are still seeing property that has been marketed well and realistically priced being sold in short periods of time," says HTW.
“We believe this illustrates that the market is still quite strong with prospective purchasers present in the market, ready to move in and purchase the ‘right home’."
However, HTW also warns of the need for better transport infrastructure and growing traffic congestion issues.
“As more people move to the north west there is going to be more demand placed on key transport and road corridors, so a lot of pressure falls on to the government to proceed with the construction of the new North West City Rail Link.
“With the lack of transport in these areas, more and more people are driving and this leads to traffic congestion.
“In the past potential purchasers may have thought twice before buying in the area due to the lack of support by government for a north-west city rail link.
According to HTW, across Sydney, units and entry level homes are the best performers, with these properties continually in high demand.
It notes that there is still strong demand for properties price below $1 million.
“Ashfield, on the outer fringe of Sydney’s inner-west market has been a very strong performer recently.
“As the inner-west suburbs become too expensive for first time home buyers, we have seen Ashfield representing excellent value resulting in increased demand.
“Ashfield is on the fringe of the first time home-buyers bracket for single residences and long term growth is expected as evident from other inner west suburbs.
“Proximity to the CBD and public transport are positives for Ashfield adding to the popularity,” says HTW.
Manly photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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lschlesinger-FZcF9M3vE6

Sydney northern beaches residential market still weak with no turnaround in sight: HTW

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The Carss Park mansion of the champion boxer Kostya Tszyu and his wife, Natasha, is back for sale after the intending buyer did not proceed to settlement.
It had been listed with $3 million-plus auction hopes in July and passed in at $3.25 million through Mark Kourouche of First National Real Estate Greenacre.
It's now listed with offers over $2.85 million being sought.
The Benwerrin Avenue property was reportedly sold for $3.5 million a week after passing in at its July auction.
Tszyu's wife, Natasha, told News Ltd the deadline for a deposit to be paid passed last month with little word from the buyer, who was believed to be a friend of her husband's.
The highest price paid in Carss Park was $2.45 million in late 2008 for a five-bedroom, seven-bathroom house on a 1,865-square-metre Gnarbo Avenue block.
The Russian-born Tsyzu has since returned to his homeland to reside after the house was <a href="https://www.propertyobserver.com.au/new-south-wales/boxer-kostya-tszyus-carss-park-mansion-under-offer-as-former-champ-aims-to-knock-out-suburb-record/2012070455423">under offer in July</a>.
<a href="https://www.propertyobserver.com.au/new-south-wales/boxer-kostya-tszyu-seeks-to-knock-out-carrs-park-record/2012062655273" target="_blank">His six-bedroom, eight-bathroom residence </a>has been renovated and extended since the couple bought it for $785,000 in 2000. He had previously lived at Sans Souci.
The 2,400-square-metre Benwerrin Avenue property has resort-style facilities including a tennis court and heated saltwater pool.
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Boxer Kostya Tszyu’s Carss Park mansion back up for sale

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Were he alive today, bush poet Henry Lawson might have penned a few lines about soaring property values in the central NSW country town of Grenfell, the place of his birth, which ranks 22nd on RP Data’s list of top 100 capital growth suburbs and regions.
Grenfell, about 370 kilometres west of Sydney in Weddin Shire, is also the cheapest entry on the top 100, with median property values sitting at just under $150,000 – up from $125,000 in June 2011, a gain of 20%.
There have been very few established houses sold in Grenfell over the past year, according to RP Data records, with most sales being rural blocks and farm land.
Properties that have sold in the 12 months to June include a single-story three-bedroom house on Wood Street with a swimming pool, which sold for $170,000 in October last year.
There are currently just 34 property listings for Grenfell on realestate.com.au – most of them vacant land or farm land.
Currently listings<a target="_blank" href="https://www.realestate.com.au/property-lifestyle-nsw-grenfell-7318050"> include this three-bedroom wood cottage</a> (pictured below) on 5.5 hectares, asking $199,000 through Marie Jamieson of Jamieson Real Estate – Young.
<img src="/images/stories/2012/09/starst.jpg">
The property has been listed for sale for nearly four years. It was originally listed at an asking price of $235,000.
For those with bigger budgets, and a desire for something historic and grand, <a target="_blank" href="https://www.realestate.com.au/property-mixed+farming-nsw-grenfell-7442013">currently listed for sale is "Pinnacle Homestead" on Pinnacle Road</a> (pictured below), a fully renovated Victorian homestead on 517 hectares, which has an asking price of $1.457 million and dates back to 1882. It is being sold by Ainslie Toole of Landmark NSW, who describes it as one of just a few historic homesteads "offered at such a high standard".
<img src="/images/stories/2012/09/pinnacle.jpg">
 
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Grenfell is one of only two suburbs on the list with a median price under $200,000 – the other being Stawell in the Wimmera region of Victoria, 237 kilometres north-west of Melbourne, which ranked 29th out of 100 with house prices up 18.4% over the year to June, from $149,000 to $176,000.
The third cheapest location is Cobar, a remote outback town in central western NSW towns with ties to copper mining and other mining projects, where median values rose 12.9% over the year to June, rising from $184,000 to $208,000.
According the 2011 census, Grenfell has a population of just under 3,000 people ,with 1,400 dwellings, more than 90% detached housing.
There is a high degree of home ownership, with more than half of dwellings (51.7%) owned outright and a quarter (23.2%) owned with a mortgage. Fewer than a quarter (21.5%) of Grenfell’s residents rent.
Mortgage stress is low in Grenfell, with only 4.8% of households spending more than 30% of their household income on mortgage payment, less than half the state average of 10.5%.
Median weekly rent is $119, meaning an indicative rent of just over 4% based on the current median price.
Amenities in Grenfell include a plethora of churches, a number of schools (including Henry Lawson High School), a pharmacy, Grenfell Hospital, local newspaper the Grenfell Record and an art gallery on main street.
Lawson was born among the goldfields of Grenfell in 1867 “just metres from mineshafts”, according to grenfell.org.au, and penned a number of poems about the town, including Said Grenfell to My Spirit, written in 191, which includes the lines:
“Though you sing of dear old Mudgee and the home on Pipeclay Flat, You were born on Grenfell goldfield – and you can’t get over that."
His died in 1922, with his place of birth marked in 1924 by an obelisk, which now stands under a large sugar gum tree planted by his daughter Berth Jago.
A Henry Lawson festival is held every year in Grenfell.
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Cheapest of RP Data’s 100 growth suburbs, Grenfell rising property values would have inspired native son Henry Lawson

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Artist Tim Storrier and his wife, Janet, have listed their historic rural Bathurst estate, as well as their Double Bay pad.
They hope to get $8 million from the two offerings.
Blackdown, the Storriers' Bathurst estate, cost $2.5 million in 2008 when bought from the hair care product pioneer Anton Starling, who'd sought more than $3.5 million.
The 56-hectare property is four kilometres from the Bathurst city centre, at Eglinton.
The house was built for commissariat storekeeper Thomas Hawkins, his wife, Elizabeth, and their eight children after a land grant by Governor Thomas Brisbane.
Thomas  Hawkins, a former British naval officer, had been appointed commissarial storekeeper at Bathurst in 1822.
Hawkins has spent 18 days to get across the Blue Mountains to Bathurst, where he selected the holding on the Macquarie River.
The Ian Stapleton-renovated homestead comes with tennis court, pool, dressage arena, stable complex, and a recently constructed artist's studio in its grounds.
Blackdown is listed with $4 million-plus hopes through Bill Bridges of Ballard Property Group and James Thompson of <a target="_blank" href="https://www.homehound.com.au/90+eleven+mile+drive+bathurst+nsw+2795/20579368/">The Professionals Bathurst</a>.
The Storriers' Double Bay residence has been in Janet's family since 1966 when the Holt Street property was bought by her parents, Meyer and Stephanie Marshall.
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Tim Storrier lists Blackdown at Bathurst with $4 million-plus hopes

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A tranquil waterfront apartment that sold for $1.56 million at auction two weeks ago is now available to rent for $1,400 per week, reflecting a gross rental yield of 4.67% for its investor buyer.
 The 1930s two-bedroom pied-a-terre was created by renowned architect Iain Halliday of Burley Katon Halliday (BKH), who worked in conjunction with esteemed feng shui master and architect Howard Choy.
It was sold by the Los Angeles self-betterment entrepreneur Siimon Reynolds, who secured its for $788,000 in 1997.
 The tranquil sanctuary offers 180-degree views of the bay, the promenade and the park with waters lapping on the doorstep.
<a href="https://www.propertyobserver.com.au/title-tattle/siimon-reynolds-sells-double-bay-apartment-for-%24156-million" target="_blank">Located at 3/1 Wiston Gardens Double Bay</a>, the apartment offers spacious indoor and outdoor living and entertaining areas with a generous northeast-facing terrace.
With a polished limestone bathroom and a stainless steel Miele gas kitchen with integrated appliances, this contemporary apartment embraces traditional feng shui principles.
 The property is being leased by Darren Lawson from BHR Group Edgecliff.
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