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

Property Sales

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<div>Property transaction volumes are reportedly declining in Sydney, and nationally. There are about 9.75 million residential dwellings in Australia, but despite a record construction boom stock turnover has fallen to well below 3 per cent, and way below the historical averages. There could be any number of reasons for this. Like a property market Jim Bergerac, I took a look through this month's housing finance data angling for clues.</div>
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<div>Reason 1 - Staying put!</div>
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<div>We know that the ridiculous cost of stamp duty (and selling fees) is a discouraging factor for people wanting to move house in Sydney, the only real question is how much of a factor it actually is. Sure, stamp has been around forever, but the bands were designed with old dwelling prices in mind, and only recently have duties become farcically high.</div>
<div> </div>
<div>Stamp duty receipts in New South Wales have more than doubled since June 2013 to $8.63 billion. </div>
<div> </div>
<div>In June 2013 the buyer of a median priced house in Sydney paid about $27,000 in stamp duty, mortgage fees, and transfer duties. Today, they'll pay nearly $45,000.</div>
<div> </div>
<div>That's a lot of capital growth required to justify the costs of moving house, so we'll arguably see a shift towards renovating and staying put (or buying cheap and renovating) just as we did at Sydney's previous cyclical peak in early 2004.</div>
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<div>In fact, that's already happened to some extent in Sydney, while renovations activity is rising steadily in Melbourne and Brisbane.</div>
<a href="/images/2016/11/14/b1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/b1.jpg" alt="">
 
<div>People will campaign for higher or different types of property taxes, but it's hard to see it happening in NSW while this unprecedented windfall is enriching the state government. The state's finances are in enormous nick - debt free and racking up big surpluses!</div>
<div> </div>
<div>Reason 2 - The trusty buy &amp; hold strategy</div>
<div> </div>
<div>A structural change over the medium term has been the "asset lock in" associated with property investors, with the prevailing tax legislation more or less compelling investors to use interest only loans and play a longer term capital growth strategy.</div>
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<div><a href="/images/2016/11/14/B4.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2016/11/14/B4.jpg" alt=""></div>
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<div>Again, investors have been around forever, of course, but since the latest round of monetary easing from 2012 this cohort has become a more substantial force in the larger capitals. </div>
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<div>The recent reclassifications of the stock of outstanding credit from investors to owner-occupiers are all too convenient to be taken seriously. In any case, there has still been a 300 per cent increase in outstanding investor credit since 2003. Buy, hold, and compound the capital gains.</div>
 Reason 3 - Offshore investors
<div> </div>
<div>What of the residential construction boom? In Australia non-residents are generally restricted to the purchase of new dwellings, thereby encouraging new construction, and this is clearly working now interest rates have been dropped.</div>
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<div>The housing finance figures show that domestic owner-occupiers accounted for only 31,500 or so financed purchases of new dwellings over the year to September 2016. </div>
<a href="/images/2016/11/14/B2.jpg" target="_blank"> Click to enlarge</a>
<div class="separator"><img src="/images/2016/11/14/B2.jpg" alt=""></div>
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<div>The numbers are up in the most of the larger capital cities, but not that much in the context of a record residential construction boom.</div>
 <a href="/images/2016/11/14/B3.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="/images/2016/11/14/B3.jpg" alt=""></div>
<div> </div>
<div>So, who is buying the new stock? Downsizing cash buyers would account for a proportion of new dwelling sales, super funds, and investors sold new stock by 'white knight' middlemen or advisors some more. </div>
<div> </div>
<div>But a huge share would be non-resident buyers, particularly now from China. This is also a new trend - FIRB approvals have tripled in only two years!</div>
<div> </div>
<div>The Chinese phenomenon in Australian property in particular is a relatively recent one, so nobody can say for certain what trends will play out, but intuitively it wouldn't be a surprise if most non-resident buyers are in for the long haul.</div>
<div> </div>
<div>Arguably a fair proportion of dwellings bought by non-residents don't even make it to the rental market, let alone become resales. </div>
<div> </div>
<div>The wrap</div>
<div> </div>
<div>Unfortunately - unlike in Bergerac where the culprit was invariably either one of lovable rogue Charlie Hungerford's mates or someone related to the glamorous jewel thief - there is no singular  explanation for why transaction levels are down.</div>
<div> </div>
<div>High transaction costs represent one valid argument. </div>
<div> </div>
<div>Perhaps most people wanting to move house in this cycle have already done so, and the line of willing sellers is becoming exhausted. </div>
<div> </div>
<div>Other prospective vendors may fear that if they sell they might never get into the market as prices levitate away from them, for despite a thousand warnings prices are again forecast to rise strongly in Sydney, Melbourne, and Brisbane in 2017 (and with listings down, there are fewer homes to pick from). </div>
<div> </div>
<div>Certainly with so much hype around, lots of vendors may just decide that the easiest option is to do nothing.</div>
<div> </div>
<div>And finally, arguably a higher proportion of owners and investors are simply using real estate as a long term inflation hedge, due to rising land prices. </div>
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<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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3 reasons why property sales volumes are declining: Pete Wargent

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The REA Group, parent company of realestate.com.au, has announced the launch of its global property network.
 
It is envisaged the network will be a platform that opens up a new way for people to search for international property while exposing Australian property listings to a global audience.
 
With listings from 56 countries, connected by property sites in 12 markets, including US, Italy, Germany, France, Malaysia and Hong Kong, realestate.com.au/international is the largest source of global property listings in the world with three million listings at launch.
 
Using global reach and strong local brands, the network will further drive international views and enquiries to Australian listings with exposure to 200 million visits globally each month.
 
“People love looking at property and now they can have easier access to international listings, whether they are interested in a beach house in Jamaica, a warehouse in Brooklyn, a villa in Thailand or even a castle in the French countryside. 
 
“We’re continuing to build our offering by giving consumers access to more than three million listings at launch; this is the world’s largest source of global property," Tracey Fellows, the chief executive officer of the REA Group said.
 
“This global network adds another layer for visitors to our sites, while at the same time, providing value to vendors by giving listings exposure to 200 million visits globally each month,” Ms Fellows said.
 
REA Group, parent company of realestate.com.au, is majority owned by News Corp. 
 
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Realestate.com.au expands beyond Australian borders

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A survey has found affordability and potential for house price growth are the two main concerns for first home buyers.
The survey, commissioned by St George Bank, surveyed 1,000 first home buyers nationwide and found value growth is more important than distance to work (ranked 3rd priority), distance to shops and attractions (4th) and distance to family and friends (5th).
Some 26.4 percent of respondents said they had to make compromises to buy their home, with nearly half (49.8 percent) of those compromising on location, and 45.7 percent compromising on price.
Ross Miller, General Manager for St.George Retail Banking, said the research highlighted that first home buyers are looking beyond lifestyle factors when purchasing property.
“Buying a first home is more than buying a roof over your head. Our home is usually our biggest financial investment and over the last few decades we have seen a sharp increase in the value of the average Australian home.”
“First home buyers are wise to view their purchase as an investment. To assist first home buyers, St.George Bank offers tailored advice and a range of competitive products, helping make the first home dream a reality,” added Ross.
Summary of key findings
<ul>
<li>
Other than affordability, buying in an up-and-coming area with potential house price growth was the most important priority when buying a first home;
</li>
<li>
Distance to work was the third highest priority;
</li>
<li>
Distance to shops and attractions was the fourth highest priority;
</li>
<li>
Distance to family and friends was the fifth highest priority.
</li>
<li>
Evaluating which properties presented good value was ranked the most difficult task during the house hunting process
</li>
</ul>
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jonathanchancellor-7SQnKwU6yx

Affordability, house price growth top for first home buyers

<html><body>
Karratha, then Port Hedland continue to bear the brunt of the collapsing WA property market, according to the REIWA March quarter data.
Median prices and sales of properties are derived from Landgate data, excluding properties more than 1 Ha.
Karratha has seen a 25 percent property price decline from 12 months ago, and a 10.8 percent decline in the last three months.
A four bedroom home at <a href="https://www.realestate.com.au/property-house-wa-karratha-122763422" target="_blank">2 Thistle Loop</a> in Karratha (above) was initially listed with $485,000 hopes but the asking price has been slashed to $445,000 in just two months.
The suburb of Port Headland is also decreasing quickly, down 23.1 percent from 12 months ago.
Broome has seen the biggest property value decline in the last three months with an 11.2 percent decline.
Surprisingly Northam is performing well. The suburb has seen a 19.6 percent increase in property values from 12 months ago and 17 percent in the last three months.
 
 
<table class="data-table members-data-table table-striped">
<thead><tr>
<th>PROPERTY VALUES (MEDIAN SALE PRICES)</th>
<th>MARCH 2016 QUARTER</th>
<th>CHANGE FROM 3 MONTHS AGO</th>
<th>CHANGE FROM 12 MONTHS AGO</th>
</tr></thead>
<tbody>
<tr>
<td colspan="4">Houses, Established</td>
</tr>
<tr>
<td>Perth Metropolitan</td>
<td class="number-right">$530,000</td>
<td class="number-right">-1.9%</td>
<td class="number-right">-4.5%</td>
</tr>
<tr>
<td>Mandurah - Murray</td>
<td class="number-right">$400,000</td>
<td class="number-right">3.4%</td>
<td class="number-right">-4.8%</td>
</tr>
<tr>
<td>Bunbury Urban Area</td>
<td class="number-right">$392,000</td>
<td class="number-right">4.5%</td>
<td class="number-right">0.5%</td>
</tr>
<tr>
<td>Geraldton - Greenough</td>
<td class="number-right">$325,000</td>
<td class="number-right">-11.0%</td>
<td class="number-right">-16.3%</td>
</tr>
<tr>
<td>Kalgoorlie - Boulder</td>
<td class="number-right">$327,000</td>
<td class="number-right">-4.5%</td>
<td class="number-right">-3.1%</td>
</tr>
<tr>
<td>Albany Urban Area</td>
<td class="number-right">$390,000</td>
<td class="number-right">4.0%</td>
<td class="number-right">0.0%</td>
</tr>
<tr>
<td>Broome Urban Area</td>
<td class="number-right">$475,000</td>
<td class="number-right">-11.2%</td>
<td class="number-right">-19.0%</td>
</tr>
<tr>
<td>Busselton Urban Area</td>
<td class="number-right">$449,000</td>
<td class="number-right">-4.5%</td>
<td class="number-right">-1.3%</td>
</tr>
<tr>
<td>Esperance Urban Area</td>
<td class="number-right">$355,000</td>
<td class="number-right">1.4%</td>
<td class="number-right">-12.9%</td>
</tr>
<tr>
<td>Karratha Urban Area</td>
<td class="number-right">$330,000</td>
<td class="number-right">-10.8%</td>
<td class="number-right">-25.0%</td>
</tr>
<tr>
<td>Northam</td>
<td class="number-right">$280,000</td>
<td class="number-right">17.0%</td>
<td class="number-right">19.6%</td>
</tr>
<tr>
<td>Port Hedland Urban Area</td>
<td class="number-right">$500,000</td>
<td class="number-right">-2.0%</td>
<td class="number-right">-23.1%</td>
</tr>
<tr>
<td>Regional WA</td>
<td class="number-right">$380,000</td>
<td class="number-right">1.3%</td>
<td class="number-right">-3.8%</td>
</tr>
<tr>
<td colspan="4">Multi-Residential</td>
</tr>
<tr>
<td>Perth Metropolitan</td>
<td class="number-right">$436,000</td>
<td class="number-right">0.2%</td>
<td class="number-right">-1.6%</td>
</tr>
<tr>
<td colspan="4">Land</td>
</tr>
<tr>
<td>Perth Metropolitan</td>
<td class="number-right">$265,000</td>
<td class="number-right">-0.4%</td>
<td class="number-right">-1.3%</td>
</tr>
<tr>
<td>Regional WA</td>
<td class="number-right">$185,000</td>
<td class="number-right">4.5%</td>
<td class="number-right">
3.9%
 
 
</td>
</tr>
</tbody>
</table>
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jchancellor-FAypfDUnLy

Karratha price median down 25 percent

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The Investar website has identified Woy Woy and Wentworth Falls as two of the countries fastest growth suburbs over the past year.
Only townhouses in Victoria's Berwick are cheaper in the list.
The list suggests price growth is strong in $1 million plus localities. 
Rank Suburb State Dwelling Type Bedrooms Median Listing Price 1 Year Change
1 GLEN WAVERLEY VIC House 3 $1,087,500 34.50%
2 LIVERPOOL NSW House 3 $650,000 30.65%
3 BERWICK VIC Townhouse 3 $540,000 27.96%
4 CASTLE HILL NSW House 4 $1,270,000 27.38%
5 GLEN WAVERLEY VIC House 4 $1,150,000 26.37%
6 WENTWORTH FALLS NSW House 3 $550,000 25.14%
7 DONCASTER VIC House 3 $1,000,000 25.07%
8 BALWYN NORTH VIC House 4 $1,500,000 25.00%
9 MOUNT WAVERLEY VIC House 3 $995,000 24.37%
10 WOY WOY NSW House 3 $559,000 24.22%
 
{mijopolls 143}
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Woy Woy and Wentworth Falls: where would you invest?

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Toowoomba, Queensland’s largest inland city, is approaching the peak of the residential market.
But prices are not looking to soften as gentrification takes hold , according to HTW’s March property clock -- a simple broad brush means to indicate where property prices are and where they are going.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" alt="">
 
As at the beginning of 2016, Toowoomba’s median house price remains affordable at approximately $370,000 and despite a noticeably softening market sentiment, sale prices have not yet shown signs of decline. 
However, it is apparent that the peak of the residential market has passed with agents reporting reduced investor enquiry. 
With current property climate in mind, investor interest cooling and upgrader enthusiasm easing, home owners are turning to regeneration and renovation. 
The key areas where this gentrification is most obviously taking hold is in the affordable suburbs of South Toowoomba, North Toowoomba, Mount Lofty and Newtown. 
The traditionally less sought after suburbs of Rockville and Harlaxton are slowly transitioning to gentrification hot spots due to their affordability.
At a higher price point, the style of dwelling common in East Toowoomba and scattered throughout established parts of Toowoomba, being older style early 1900s cottages, lend themselves to current renovation trends and modern extensions.
Not surprisingly, due to the steady trend of rejuvenation of this type of property, the median price in East Toowoomba is $445,000, significantly above that of the broader Toowoomba area.  
As for the medium to long term, while the peak of the Toowoomba residential property market has passed, these gentrifying areas look set to maintain current levels of demand and value, however as is expected across the entire Toowoomba region, some slowing in sales activity may occur. 
<img src="/images/2016/03/17/image2-1.jpg" alt="">
As an example of the property market activity, Property Observer found a duplex at <a href="https://www.realestate.com.au/property-unit-qld-south+toowoomba-121421586" target="_blank">1 &amp; 2/126 Perth Street, South Toowoomba, Qld 4350</a> (above) was recently sold for $480,000 through Colliers International.
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prateek24-ezbwHMbNAk

Toowoomba near peak of market cycle, but prices not softening as gentrification takes hold: HTW

<html><body>
Villa Rocca Bella, the Whale Beach oceanfront retreat of the late soprano Dame Joan Sutherland sold in one of the quickest sales on the pricey northern beaches this year.
The four bedroom, 1950's home on a double block was bought by Lorraine Tarabay, wife of Rare Infrastructure fund manager Nick Langley.
Whispers of a $6.9 million sale proved correct.
It was 38 years ago that it sold for $167,000. 
The three level house has been little used in recent times by her husband Richard Bonynge, who calls home Montreux in Switzerland, but keeps a bolt hole in Potts Point.
This article was first published in the Saturday Daily Telegraph.
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Dame Joan Sutherland's Villa Rocca Bella, Whale Beach retreat sold

<html><body>
Melbourne's weekend clearance rate of 67% was higher than 65% last week and 66% this week last year.
There were 1236 auctions reported to the REIV. 
There are more than 1,400 auctions scheduled next weekend, which will mark the final Super Saturday for the year, the REIV chief Enzo Raimondo said.. 
 
TOP 5 HOUSES
1. 5 Torresdale Road, Toorak $3,725,000
2. 1227-1229 Malvern Road, Malvern $3,510,000
3. 66 Black Street, Brighton $3,500,000
4. 1 Connor Street, Brighton East $3,200,000
5. 27 Swallow Street, Port Melbourne $2,900,000
 
TOP 5 BARGAIN HOUSES
1. 19 Branton Road, Hoppers Crossing $310,000
2. 32 Tatura Crescent, Broadmeadows $322,500
3. 12 Folger Road, Craigieburn $330,000
4. 103 Sunset Boulevard, Jacana $336,000
5. 11 Hesse Court, Westmeadows $355,000
  
TOP 5 APARTMENTS
1. 10A Banksia Avenue, Beaumaris $1,650,000
2. 52A Bayview Street, Williamstown $1,425,000
3. 55A Lahona Avenue, Bentleigh East $1,410,000
4. 2/14 Yerrin Street, Balwyn $1,356,000
5. 1/58 Union Road, Surrey Hills $1,310,000
 
TOP 5 BARGAIN APARTMENTS
1. 7/13 Ormond Road, West Footscray $188,000
2. 22/15 Mcewan Road, Heidelberg Heights $272,500
3. 18/278 Barkly Street, Elwood $285,000
4. 7/139 Napier Street, Essendon $287,000
5. 5/8 Walker Street, Brunswick West $295,000
Source <a href="/news">REIV</a>
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Melbourne's auction success rate hovers in the mid 60s: REIV

<html><body>
Berwick Waters, located south-east of Melbourne, will stage two lot releases by Frasers Property on December 5.
Property Observer briefly profiles the two:
<a href="https://www.frasersproperty.com.au/VIC/Berwick-Waters/Explore" target="_blank">College Green</a>
College Green is offering plots in a range of sizes up to 913 square metre in its second release.
The development, comprising schools, recreation facilities, amenities and retirement living all in the one location, promises a range of lifestyle options for residents of all ages. 
Waterside Village
Waterside Village is designed around a central park and surrounded by landscaping and wetlands.
<a href="https://www.frasersproperty.com.au/VIC/Berwick-Waters/Explore/Waterside%20Cedarbark%20Release" target="_blank">The Cedarbark release</a> offers a selection of regular-shaped lots from 312 to 570 square metre, with a depth choice of 25 metres or 32 metres depth.
The lots are priced from $230,000.
The blocks will be sold on a first come, first served basis. Purchasers are required to pay a 5% deposit and sign an unconditional land contract.
</body></html>

Two new releases in Berwick Waters this weekend

<html><body>
First home buyers may be encouraged to come back into the market, helped by tough regulations on investors, falling values and projects targeted towards FHBs. 
Data from the Australian Bureau of Statistics reveals first home buyers numbers are rising, with an 8.5% increase in their applications for home loans in September.
At the same time, the number of investors in the market has dropped. 
The amount first home buyers are borrowing is also on the increase, according to ABS figures which shows the average loan to an FHB was $351,800, up $2500 on the previous month.
However, in original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 15.4% in September 2015 from 15.8% in August.
 
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
</body></html>

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