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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Commercial property investors James Dawson and Anthony?Pangallo are selling Koreelah, their five-bedroom 1905 Byron Bay hinterland farmhouse. 
It's an original Arts and Crafts-style house nestled on the hill below St Helena at Skinners Shoot.
All its rooms home featuring mahogany and teak floors and rosewood detailed ceilings open onto verandas.
The location was first settled in 1890, with the 1905 house trading for the only time in 1998 when bought from the original owners, the Raywards, one of Byron’s oldest families .
It had a sympathetic renovation to make it all quite luxurious.
There's a pool in its  two-hectare Skinners Shoot Road grounds. 
Its short stay rates are from $750 per night in the low season to $1,500 per night in the peak.
The property is listed through <a href="https://www.uniqueestates.com.au/Homes/Detail.aspx?id=ue277&amp;wlid=ea8be237-2fbf-4c6e-b7b1-b3632ce8033f">Nicolette van Wijngaarden of Unique Estates </a> with $5 million-plus hopes when expressions of interest close October 31.
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Koreelah, authentic Arts and Crafts home at Skinners Shoot

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Long-established horse riding school Samarai Park in Terrey Hills, NSW, has been listed by LJ Hooker with a $3 million price guide.
Located at 90 Booralie Road Terrey Hills, just 20 minutes from the Sydney CBD, Samarai Park offers expansive northerly bushland views over its two-hectare holding.
The horse riding school opened in 1956 and still offers agistment, lessons, riding camps and children’s birthday parties.
Samarai Park was founded by Thelma Budrodeen.
Her most prized assistant was the white Arab-Crossed horse named Bell Boy who was used to teach children to ride.
Samarai Park was the first registered riding school with the Equestrian Federation of Australia (EFA), and Budrodeen received a Medal of the Order Award (OAM) for her charity work with the Riding for Disabled Association.
The property was sold by the Budrodeen family in 1998 for $1.25 million, with it onselling again in 2000 at $1.6 million.
Samarai Park is now owned by the Frawley family, who bought the park in 2007 for $3.28 million.
It still operates as a riding school and offers boarding for horses for $235 per week. Float storage is also available for an extra $15 per week.
Samarai Park is centred close to the Ku-ring-gai Chase National Park, with direct access to national park riding trails.
The property comprises of an office and shops, staff quarters/self-contained flat, two full-size dressage arenas and a full-size jumping area with lighting.
Samarai Park has 33 stables, 24 day yards, tack, feed and storage rooms, a lunging area, wash bays and three work sheds plus a dam.
The three-bedroom home located on the property consists of a study, two bathrooms and an outdoor swimming pool. The outside parking accommodates for 20-plus vehicles.
Despite the increased residential density in the district, Property Observer looked at six riding schools operating nearby in the mid-1980s and found that four are still operating today.
Boonaroo Riding Club in Terrey Hills has since changed its name to Green Fields Equestrian Centre, but Otford Valley Farm, Palomino Corral Riding School in Belrose and Scenic Hills Riding Ranch in Ingleburn are still operating under their original names.
Jackeroo Ranch in Kenthurst is no longer operating after a bushfire in 2002 ripped through the property and destroyed the ranch. Jackeroo Ranch was a respected tourist facility established in 1961, and the iconic house on the property was used in the pilot for the television series Home and Away. Wayandah Riding School in Ingleside has since closed down.
Many of the districts horse related proeprties participate in The North Shore Horse and Pony Association, which was formed in 1975 to ensure that horses and horse-riding activities continue to form a vital part of the community.
Samarai Park has been listed for sale by Kevin Packham from LJ Hooker Terrey Hills.
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Samarai Park riding school on Sydney's outskirts listed

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Forget chic Bondi Minimalism, Australia’s most extravagantly gaudy home has been discovered, given it's been listed for sale.
With peacocks, mermaids, statues and chandeliers aplenty, one Bondi chiropractor turned a late 1800s four-bedroom home into a real-life house of almost hallucinatory showiness.
And it can be bought in one line!
Over the past 35 years, vendor Kevin Du Val has pumped more than $1 million of trinketry, tack, pomp and artifacts into this cabinet of curiosities.
The former saddlery, butcher's shop and grocery store now includes a 270-year-old chandelier, various taxidermies, painted leadlight windows and an impressive collection of assorted gaudy antiques.
In the courtyard, a statue of Poseidon looms over a heated spa, which is festooned with crude ocean scenes.
Inside the pink and purple lounge room, a cast iron spiral staircase leads up to a cosy attic bedroom dominated by what looks like a fox fur-covered bed.
Du Val has been using the home as a part residence, part studio for his osteopathy, iridology (diagnosing ailments from the shape and colour of a person's eyes) and chiropractor business.
The ostentatiously ornamented property is being listed for sale by Troy Deviesseux from Ray White Wentworth Point.
“You’d be hard pressed to find another property like this,” Deviesseux says.
He is looking to sell the property for upwards of $2.5 million, not including the furnishings.
“That doesn’t include the furnishings and the various artworks which give the property its character.”
“The first preference would be for it to sell as one package, which would be worth in the high $3 million.
He insists the property has had strong interest for its October 12 auction.
“The interest comes from collectors mainly. People who have an art collection and people who are just looking for something a little bit different.”
Du Val has set the 205-square-metre property up as a three-bedroom house, with the fourth used as his practice.
Pressed metal front doors lead into a formal entry. Downstairs is a formal lounge with a mahogany bar, a formal dining room and an eat-in kitchen.
Upstairs are three bedrooms, a TV rooms and a main bathroom. There is an upstairs terrace that looks down onto the courtyard.
There are four open fireplaces spread throughout the property.
The sale includes parking for up to three vehicles.
Du Val says he created the home around his artworks.
The decision to sell had been a difficult one, Du Val told News Limited
"It's fairly emotional, probably more so than I'm letting on. But sometimes you just need a change and it's just time. They say the two most difficult things you can go through in life are selling a home and getting divorced, and this is like both."
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Australia’s most extravagantly gaudy home for sale

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Photographer Chris Colls and his wife, Ferne, have listed their Harry Seidler-designed Gissing House at Wahroonga.

They bought it in early 2008 for $2.66 million from the restauratuer Bill Granger and his wife, Natalie Elliott, who had bought it a few months earlier from the Gissing family at $2.65 million.
The Colls had a brief attempt in late 2010 to sell <a target="_blank" href="https://www.modernhouse.co/property/1134264-gissing-house">the 1972 house </a>with $2.9 million-plus hopes.
The house, which sits on a private 1,688-square-metre Water Street holding, reportedly attracted attention from actor Eric Bana at the time. Other lesser entertaiment industry stars, Tom Williams and Tim Ross, were also spotted at its then open for inspections. 
It's now listed through Marcus Lloyd-Jones at Modern House Estate Agents.
The five-bedroom, three-bathroom house – built for a family of five – remains in original yet modern condition.
The large, lofty lounge, with fireplace and wet bar, flows to a north-facing terrace, pool and level lawn. 
The original landscape scheme by landscape architect Bruce Mackenzie has been maintained through the decades.
The interiors feature oak ceilings, concrete pillars, quartzite floors and walls of glass opening outdoors.
The three-level residence came to be after Janet Gissing came to admire Harry Seidler’s architecture.
Her husband, John Gissing, bought land at Wahroonga and as dinner guests at the Seidlers in the Harry and Penelope Seidler House, they asked Seidler if he could design them a house just like theirs.
The family live there until its 2008 .
The couple operate an international company, with Ferne, the CFO at Chris Colls Photography.
Photography: ©<a target="_blank" href="https://www.chriscolls.com/"> Chris Colls</a>
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Harry Seidler's Gissing house at Wahroonga listed 

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A newly designed Andrew Tzannes home in Cammeray has been listed for sale with $3 million-plus hopes.
The two-level, four-bedroom, four-bathroom abode has sleek interiors with about 330 square metres of space internally.
Its master bedroom suite comes with terracing.
Justin Ferguson at <a target="_blank" href="https://www.justinferguson.com.au/index.cfm?pagecall=property&amp;propertyID=2147425&amp;realestate=9_Alan_Street_CAMMERAY_NSW_2062&amp;menuItemID=">Justin Ferguson Property Specialists </a>has the Alan Street listing which comes with striking bitumen shingled mansard roofing. Interiors were done by Julia Ferguson Interiors.
The 467-square-metre block cost $1.5 million in 2010 when bought by Russell Barwick, the ESPN sports broadcaster and his wife, the onetime account director with Clemenger Communications, Suzanne Ferguson.
Andrew Tzannes is the design director at <a target="_blank" href="https://www.s-tz.com.au/projects/single-dwelling/item/64-alan">Smith &amp; Tzannes</a>. Prior to Smith &amp; Tzannes Andrew had 10 years of experience with the renowned architects Alexander Tzannes and Associates.
The house was one of the first developments done in Cammeray under the new complying development regulations. 
<a href="https://www.planning.nsw.gov.au/LinkClick.aspx?fileticket=YmguXBS4GJI%3D&amp;tabid=104">https://www.planning.nsw.gov.au/LinkClick.aspx?fileticket=YmguXBS4GJI%3D&amp;tabid=104</a>
 
 
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Andrew Tzannes Cammeray design home listed by ESPN sports presenter Russell Barwick

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There is a diverse array of homes and apartments to buy under the magical $300,000 mark, according to valuers from Herron Todd White (HTW).
According to July ABS housing finance figures, the average size of an owner-occupier home loan in Australia fell $1,100 over the month to sit just above this benchmark at $300,500.
In Sydney, recommendations range from studio apartments in the highly regarded inner suburbs of Potts Point, Darlinghurst and Surry Hills to less fashionable 1960s and 1970s units in The Shire.
Current listings under $300,000 include this Potts Point north-facing studio (pictured below) with “a pleasant outlook over a common courtyard and located only minutes to the action and chic nightlife off Potts Point or Darlinghurst”.
<img width="470" src="/images/stories/2012/09/wardave.jpg">
It is being offered for sale by James Peach from BresicWhitney Estate Agents Darlinghurst, who is seeking offers in excess of $245,000. It last sold for $166,000 in September 2005. Local agents Laing Real Estate have no listings under $300,000 on its website, but did sell an <a href="https://www.laing.com.au/wp-content/plugins/Realty/display/elements/print_property_pdf.php?property_id=154387">$280,000 Roslyn Gardens </a>studio Aquarius apartment earlier this year. It was a 26 sq m apartment which was shortly after available for $320 a week.
For investors looking for something around $300,000 mark in the Shire, Justin Buck from Cronulla Real Estate is offering a one-bedroom apartment in an older-style brick block of 10 with an asking price of $310,000 (pictured below). The property last sold for $114,000 in 1997. It sold for $18,500 in 1976.
<img width="470" src="/images/stories/2012/09/croydonst.jpg">
According to <a target="_blank" href="https://www.htw.com.au/">HTW</a>, rental returns for a $300,000 investment can be fairly attractive in inner Sydney.
“You can generally expect to get a 5% to 7% rental return on your property and vacancy rates are extremely low for most areas of inner Sydney.
“The type of property purchased at this price point is likely to be low maintenance due to the basic level of accommodation being either a studio or one-bedroom unit.”
HTW says it sees many investors at the $300,000 price point lured in by these low vacancy rates and good yields and they therefore tend to dominate this price point.
“The downside of investing in these types of properties is the relatively low capital growth.”
Here’s a rundown of what you can buy with $300,000 in your “Hello Kitty coin purse” in NSW:
1. Cronulla (southern suburbs): a basic 1960s or 1970s with no car accommodation
2. Lakemba and Wiley Park (outer inner-west ring suburbs):  standard two-bedroom unit with a car space
3. Potts Point, Darlinghurst and Surry Hills (inner city): a studio unit of 30 square metres or less
4. Ultimo (inner city): Accommodation in Unilodge complex is leased to students with prices starting from $160,000 for a 14-square-metre, very basic room
5. Penrith and St Mary’s (outer west): plenty of two- bedroom units under $300,000. However, in certain pockets just under $300,000 can secure an entry-level dwelling (fibrous or vinyl clad) on a good-sized land parcel.
6. Blacktown/Mount Druitt (outer north): units in this price range with $350 to 400 per week
7. Liverpool and Fairfield: lots of affordable units under $300,000, with a high rental return and plenty of public transport and shops, investors and first-home owners are potential buyers
8. Wollongong: older-style houses in southern suburbs such as Unanderra, Cringila, Berkeley, Warrawong, Dapto, Warilla, Mount Warrigal and Barrack Heights. These will generally be 1950s to 1960s brick or fibro two and three- bedroom dwellings in fair condition and without major updates. Those properties closer to the beach offer better long-term capital growth and rental returns of around 5% gross.
9. Wollongong CBD and North Wollongong: One and two-bedroom units. These will be older 1960s to 1970s walk-up style units generally with off street or single car parking.
10. Central Newcastle: Around $300,000 will buy you an older style small unit comprising one or two- bedrooms.
11. Kurri Kurri, Weston, Cessnock, Medowie and Telarah (Newcastle satellite areas): entry level properties
12. Wyong (central coast): recent sales under $300,000 include an older, three- bedroom home with garage and carport, a two- bedroom villa
13. Halekulani, next to Budgewoi (central coast): bursting with properties priced at around the $300,000 mark, with HTW calling these two locations “the unsung heroes of the region” with good shopping, schools, lake and beaches. A partly renovated three-bedroom hardiplank with garage recently sold for $281,000, which HTW says is a good representation of the values. Gross yields in this area are approaching 6%.
14. NSW mid-north coast: Houses can be picked up for $215,000 in Taree and $200,000 in Kempsey. In both of these inland centres vacant land typically sells for around $75,000 to $125,000, meaning “all but the most modern of dwellings can be acquired for under $300,000". HTW says former Department of Housing dwellings usually sell for under $150,000 while a wide selection of houses dating from the 1960s and 1970s are affordably priced at around $200,000.
15. Taree West: HTW recommends solid 1980s brick houses in and around Ritchie Crescent that are priced around $225,000.
16. Port Macquarie: detached houses are limited to smaller, older houses in central locations around Hills Street and Hudson Avenue. “We consider these quite reasonable value for money given their good location and potential for redevelopment,” says HTW. Alternatively the valuation firm says location can be traded for comfort, and a small modern three- bedroom single garage house on the city fringe in areas near Sherwood Road or Greenmeadows Drive on small blocks of land under 400 square metres in size.
17. Forster: a wide selection of small dated houses on small blocks that can be acquired for around $225,000 in and around Short Street. HTW recommends property in and around Forster Primary School for just under $300,000.
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From Potts Point to the central coast: 17 property investment options in NSW for under $300,000: HTW 

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With all its media attention on the Bondi Beach unit measuring just 16 square metres, 14/68 Gould Street's auction offering ended up as a no-bid auction.
Marketed as Sydney's tiniest apartment, it had $270,000 price hopes -  about $17,000 a square metre.
It has been recently rented at $300 a week, and RP Data records show at around $190 a week five years ago.
At $270,000 it would represent a gross 5.7% yield.
The property last traded for $165,000 in 2001, and before that $100,000 in 1999 and $96,000 in 1996.
The block's most recent studio sale was January when the 16-square-metre unit 9 sold fetched $220,000, having initially sought $300,000 – and it was available for rent recently at $280 a week. It had been available for rent at $190 a week five years ago.
Before that the 18-square-metre unit 22 sold for $210,000 in August 2010; the 18-square-metre unit 8 fetched $230,000 in 2010, and the priciest of 16-square-metre units, number 15, sold for a record $240,000 in 2009.
<a href="https://www.domain.com.au/Property/For-Sale/Studio/NSW/Bondi-Beach/?adid=2009930696" target="_blank">The listing, </a> described as ''intimate'', was through Kiel Glass of Ray White Balmain, who had previously worked in the Bondi region.
"Some of the media might have scared off interest," he said yesterday, confirming just the two registered bidders attended the auction.
The kitchen space comes with a sink, a brown bar fridge, a plywood box pantry with a curtain, a couple of cupboards and an electric oven with two hotplates.
The mirror on the back of the door adds to the illusion of space. The laundry is communal, as is the rooftop terrace.
"This is an ideal chance for the first-home buyer or an astute investor seeking a beach pad and looking to enter a blue-ribbon beachside locale," Glass says.
Off-the-plan Bondi Beach prices tipped $45,000 a square metre last weekend in sale at the <a target="_blank" href="https://www.propertyobserver.com.au/developments/pacific-bondi-beach-buyers-riding-the-property-wave-through-to-the-2015-tide/2012090956465">Campbell Parade Pacific Bondi Beach </a> development.
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Old-fashioned studio fails to ride the Bondi Beach property wave

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The Retford Hall, Darling Point, penthouse of the late retailer arts philanthropist Mollie Gowing has been sold for $5.7 million.

Occupying the entire 18th level of the Thornton Street high-rise tower,<a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/234920"> the four-bedroom penthouse </a> was on the market for the first time in 30 years.
It sold at auction last night through Cooley Auctions. There were three bidders after five contracts. Bidding opened at $4 million, with two bidders taking its passed the undisclosed reserve.
It has about 260 square metres of indoor-outdoor living space with harbour views.
It had overly ambitious $7 million expectations when listed for November auction last year.
It was listed by Tony Barron at Barron &amp; Dowling Real Estate.
"This dream blank canvas combines house sized proportions with panoramic point blank views of Sydney Harbour," according to Daphne Sauvage, the Raine &amp; Horne Double Bay conjunction selling agent.
 
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Gowing's Retford Hall, Darling Point, penthouse gone 

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The red brick Cronulla house used as the location of the Vickers' family house in the Channel 10 series Puberty Blues sold at weekend auction for $1,382,500.
It's been bought by Debbie and Bill Sawtell, who outbid four other groups with plans to live in the the home, last sold 47 years ago. They will live there with their four children.
It was among the 245 sales from 361 weekend Sydney auctions, according to Australian Property Monitors.
Sydney's clearance rate was 60.6%, with Melbourne agents securing a 61% success rate.
The Cronulla house was very much in mint 1970s condition, including the seven different types of wallpaper, patterned carpet, coloured bathroom and wood light fittings.
The series location manager Peter Hicks scoured for months to find the right house with authentic '70s interiors.
It went to auction with $1.2 million-plus hopes through Dax De Traubenberg and Justin Ressler of Ressler Property.
The television series had the property as the home of Debbie, played by Ashleigh Cummings, the daughter of Judy and Martin Vickers, played by Claudia Karvan and Jeremy Lindsay Taylor.
The high-rating series tells the story of two girls growing up in The Shire in the 1970s.
It is based on the iconic 1979 novel by Kathy Lette and Gabrielle Carey.
The property was sold by three sibblings, Toni Bowden and her brothers, Graham and Warren Callender.
''I did the puberty blues here; poor mum and dad, the things they don't know,'' Bowden told Fairfax Media.
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No blues for the property market as '70s icon sells

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The Waverton residence known as The Ferryman has been scheduled for October 6 auction.
It's a freestanding <a href="https://www.realestate.com.au/property-house-nsw-waverton-111497827">two-storey Euroka Street residence </a>with a 127-year history dating back to its construction by Michael Doyle.
Set within a heritage conservation zone, its been recently refurbished.
It comes with $1.18 million plus hopes through through Tom Scarpignato of Sydney Boutique Property.
Its named derives from an early former tenant. 
The agency also has <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/henry-lawson-s-former-waverton-abode-listed/2012090556413">the nearby semi </a> that was the abode in the 1920s to the poet Henry Lawson.
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