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

Joel Robinson

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

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

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

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

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

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

Parcel delivery is joining the apartment amenity checklist

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

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

Reinsw

<html><body>
It was time for the NSW government to correct the stamp duty brackets, according to the Real Estate Institute of New South Wales.  
The REINSW President Leanne Pilkington said REINSW has continuously failed in lobbying the NSW Government in an effort to persuade them to address the punishing effects of Stamp Duty bracket creep. 
“However, to date, Government has chosen to ignore the damage these outdated tax rates are causing.
“The Government’s conduct in regard to this issue is nothing less than unconscionable”, Ms Pilkington said.  
The NSW budget is due in two months.
“The current NSW Transfer Duty brackets (other than the top bracket for residential land over $3 million) have been in place for more than 30 years.  
“The Second Reading to the 1986 Bill which on enactment increased NSW Transfer Duty rates and introduced the current base thresholds included the following statement: 
"The increased rates for conveyances only affect properties worth more than $300,000 and thus will not affect the average home purchaser”.  “The median house price in Sydney is now at $1,179,519," she noted.
This clearly shows that the government is ignoring the market in which the current stamp duty rates were to apply. 
“Last financial year more than $7.3 billion was collected in stamp duty and to February 2018 the government has raised in excess of $4.7 billion, on par with the same amount collected in the first 8 months of that financial year.
Meanwhile Mirvac has introduced a marketing campaign aimed at first home buyers by matching the NSW Government’s $10,000 First Home Owner Grant on all apartments above the $600,000 cap.
Mirvac says its wants to sell to first home buyers who are currently missing out because their housing needs push them into a higher $600,000 price bracket, by matching the NSW Government’s $10,000 grant.
They will be permitted to exchange on a reduced deposit, paying the remainder in instalments and with priority to purchase ahead of other buyers.
</body></html>

j.ballantyne1990-6AQqhLzZaK

NSW stamp duty rate needs updating by unconscionable state Government after 32 years: REINSW 

<html><body>
Real Estate Institute of NSW figures showed residential vacancies rose to their highest level in four years in Sydney.
The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November.
The increase came from the middle and outer-ring suburbs.
The normally slow holiday period tally took it to a level it last seen in July 2013.
Sydney's vacancy rate was higher in September 2012, when it was 2.5 per cent, REINSW figures showed.
The December 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area up 0.1 percentage points at 2.2 per cent. 
During 2017 there was a slight decline in rental availability in Sydney which bottomed out in March and April before rising again as the year progressed to see supply meeting demand. 
Vacancy rates in Inner Sydney were down 0.1 percentage points in December at 2.0 per cent, while Outer Sydney rose 0.2 percentage points at 2.3 per cent and Middle Sydney was up 0.4 percentage points at 2.6 per cent. 
The Hunter fell 0.3 percentage points at 1.7 per cent with Newcastle down 0.6 percentage points at 1.7 per cent, while in the Illawarra, vacancy rates fell 0.1 percentage points to 1.7 per cent. Wollongong was up 0.1 percentage points at 1.7 per cent. 
Across regional areas, Albury fell 0.7 percentage points at 2.3 per cent, Coffs Harbour was down 0.2 percentage points at 1.8 per cent, Northern Rivers rose 0.1 percentage points at 0.9 per cent and New England added 0.2 percentage points to 2.5 per cent.
</body></html>

Sydney vacancy rates edge to four year high

<html><body>
The REINSW has slammed low upfront fee disruptive agencies.
"Consumers are at risk of not achieving the best price for their property if they use the services of companies that charge an upfront fee," according to the Real Estate Institute of New South Wales president Leanne Pilkington.
She said with the cooling Sydney market consumers are at risk of paying even when their property does not sell. “There had been a lot of press surrounding companies that offer a flat fee upfront to sell a consumer’s home rather than the traditional commission model,” she said.  “There is no motivation or incentive for these agents to take a professional approach in achieving the best possible result as they have already been paid regardless of the outcome,” she said.  Ms Pilkington said in buoyant markets upfront fees are attractive to consumers seeking to save money but they are not significantly tested because of the high demand and low supply.  “As the peak body REINSW is therefore concerned for sellers in this changing market who are vulnerable to such low cost high risk strategies that have the potential to leave them in the lurch.  “We encourage consumers to explore a full range of options when it comes to selling their most valuable asset: don’t just go for the lowest cost option as the risks are too high if you get it wrong. Never take anything on face value, do your research and ensure that you are making the best decision. “As the market cools the true value of an experienced real estate professional can really be seen,” Ms Pilkington said.
The press release did not name any agencies, but the most recent arrival has been Purplebricks.
<div>
Last year Hayden Groves, the president of the Real Estate Institute of WA, claimed these disruptive agencies offered "poor value to consumers."
Groves said Purplebricks' fixed fee of $4500 sounded "enticing to sellers.
"Then you are effectively on your own," he wrote.
</div>
Purplebricks, an online property platform that claims to have a unique low-cost model, was also attacked last year by a leading Australian property industry executive, the First National Real Estate chief executive Ray Ellis.
“Australians understand the extra value that a professional agent brings to the marketing, negotiation and sale of property, and therefore continue to choose agents to maximise their sale price," said Ellis.
Purplebricks opened its Sydney office late in 2016.
A Purplebricks agent was accused by Fairfax Media of "a lack of professionalism from start to finish" in an article on a Sutherland Shire listing where the vendor hoped to save more than $33,000 on the $1.85 million to $1.95 million property offering.
There was an upfront $12,000 outlay - a $5500 fixed-fee, $1370 in August auction fees plus money spent on additional advertising.
The debt was reportedly in the hands of Purplebricks debt partner RateSetter, after the vendor opted to defer payment until the end of her campaign.
<div>
"I don't see why I should have to pay all that money for no result and a lack of professionalism from start to finish," she alleged.
The property was sold in November by a traditional agency, but only after the price guide was dropped to $1.5 million to $1.6 million. 
Purplebricks co-founder and CEO Michael Bruce defended the agent's conduct saying he "gave comprehensive and sound advice to our customer based on their extensive experience, knowledge of market conditions and after undertaking a comparative analysis.
"It is ultimately the customer's decision, despite the advice, what price they wish to market the property for," Michael Bruce noted.
</div>
</body></html>

No motivation for best result, as REINSW slams upfront fee disruptive agencies

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Sydney vacancy rates show supply is largely meeting demand, according to the Real Estate Institute of New South Wales.
REINSW president John Cunningham said the October 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan up 0.1 percentage points at 2.1 per cent, on par with January 2017.
“Vacancy rates in Inner Sydney fell 0.2 per cent to 2.0 per cent, Outer Sydney gained 0.2 percentage points to 2.0 per cent, while Middle Sydney fell 0.2 percentage points at 2.2 per cent,” Cunningham said.
“Parity is generally recognised at 2.0 per cent and we are currently seeing this right across Sydney.”
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/21/Residential1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/Residential1.jpg" alt="">
 
The Hunter slipped 0.2 percentage points at 1.8 per cent with Newcastle down 0.6 percentage points at 2.3 per cent. The Illawarra was steady at 2.5 per cent led by Wollongong up 0.2 percentage points to 2.9 per cent, a figure last seen in January 2016. 
Across regional areas, Albury jumped back up to 3.2 percentage points, from 1.9 per cent, New England rose 0.5 per percentage points to 3.8 per cent and the Mid North Coast fell 0.4 percentage points at 1.7. Northern Rivers remained steady at 0.8 per cent. 
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/21/Residential2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/Residential2.jpg" alt="">
</div>
</div>
</div>
</div>
</div>
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Sydney vacancy rates nudge higher: REINSW

<html><body><div>
The Real Estate Institute of NSW has integrated DocuSign’s eSignature application into its existing online forms and contracts cloud software platform, REI Forms Live.
Around 40,000 individual agent members will be able to manage lease agreements digitally.
Tim McKibbin, CEO, REINSW, said real estate has been on the verge of digital transformation for some time and replacing paperwork with digital documents is a fast way to digitise the entire industry and reinvent the customer experience.
“Today’s real estate agents are faced with a rising demand from new generations of ’digital natives’ who want business to be done with ease, speed and security,” he said.
“As far as I’m concerned, with consumer efficiency expectations there is no choice but to digitise."
Within 12 months, DocuSign and REINSW anticipate that more than 70 percent of REINSW’s members will be conducting business with customers, and renewing memberships, through DocuSign.  
Brad Newton, vice president, DocuSign APAC said REINSW is truly leading the digital disruption of the real estate industry. 
“Prior to DocuSign, agents were able to easily access the forms they needed through the REI Forms Live platform, but there was still a high level of paper-based processes involved with printing, scanning, faxing and posting involved," he said.
"By giving access to cutting-edge digital technology from DocuSign, REINSW ensures independent agents remain successful in an increasingly competitive market.”
</div></body></html>

REINSW integrates with DocuSign for greater eSignature capability

<html><body>
Residential vacancy rates across the Sydney metropolitan region remained at 1.7 percent for April despite a decline of 0.2 percent at 1.2 percent in Middle Sydney, according to the REINSW.
John Cunningham, president, REINSW , said a vacancy rate under 2.0 percent signals that there are supply issues across Sydney.
“This is particularly being seen in the middle suburbs which are 10km-25km from the CBD, where we have vacancy rates at the lowest level since March 2011," he said.
"Inner Sydney vacancy rates fell 0.1 percent at 1.5 percent and outer Sydney bucked the trend to rise 0.1 percent at 2.2 percent.”
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.11%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.11%20am.jpg" alt="">
"The Hunter rose 0.3 percent to 2.3 percent, largely due to an increase of 0.3 percent in Newcastle to 2.3 percent.
"In the Illawarra, vacancy rates slipped 0.1 percent at 1.4 percent despite a rise of 0.1 percent to 1.3 percent in Wollongong.
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.48%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/17/Screen%20Shot%202017-05-17%20at%2010.28.48%20am.jpg" alt="">
"Across regional areas, Albury’s vacancy rate jumped 0.8 percent to 3.0 percent, Coffs Harbour rose 0.9 percent to 3.8 percent and New England rose 0.9 percent to 3.0 percent.
"The Northern Rivers added 0.1 percent to 1.1 percent, while the South Coast fell 0.2 percent at 1.2 percent."
</body></html>

Sydney's middle suburbs post vacancy rates lowest since March 2011

<html><body>
Residential vacancy rates jumped in Middle Sydney as more stock has come onto the market, according to data released by the Real Estate Institute of New South Wales.
REINSW President John Cunningham said the September 2016 REINSW vacancy rate survey had Middle Sydney see a rise of 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy rate to 1.9 per cent.
“The Middle Sydney vacancy rate has been affected by more stock coming onto the market,” Mr Cunningham said.
<a href="/images/2016/10/17/Vacancy%20rate%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Vacancy%20rate%201.jpg" alt="">
“Elsewhere across Sydney, the Inner Sydney vacancy rate fell 0.1 per cent to 1.8 per cent and Outer Sydney rose 0.1 per cent to 1.8 per cent,” Mr Cunningham said.
In the Hunter region, vacancy rates dropped 0.5 per cent to 2.2, led by a tightening of the Newcastle market at 1.9 per cent down 1.1 per cent.
<a href="/images/2016/10/17/Vacancy%20rate%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Vacancy%20rate%202.jpg" alt="">
In the Illawarra region, vacancy rates are back at levels seen six months ago at 1.3 per cent down 0.3 per cent. Wollongong was up 0.2 per cent at 1.3 per cent.
Across regional areas, Albury was down 0.2 per cent at 2.9 per cent, Northern Rivers fell 0.3 per cent at 1.0 per cent and New England remained steady at 3.9 per cent.
</body></html>

Rental vacancy accommodation in middle Sydney increases: REINSW

<html><body>
The Real Estate Institute of New South Wales has announced the finalists for the 19th annual REINSW Awards for Excellence.  
REINSW President John Cunningham said being nominated as a finalist in the REINSW Awards for Excellence was the most significant accolade a real estate agent operating in NSW can receive. 
“The achievement of being recognised as a finalist is highly valued by both consumers and the profession.  “This year’s Awards program sees 21 categories spanning all facets of our industry including innovation, community service, residential and commercial professionals, as well as rising stars and auctioneers,” Mr Cunningham said.  The REINSW Awards will be announced in October 2016. 
2016 REINSW Awards for Excellence 
FINALISTS
 
AUCTIONEER
Gavin Croft – BresicWhitney/ Real Estate Auction Services
Jesse Davidson – auctionWORKS
Josh Larsen – McGrath Estate Agents
Edward Riley – McGrath Estate Agents
 
 
BUYERS’ AGENT
Nicky Cadry - BuyEast Buyers Agent
Joshua Coleman – JLL
Amanda Gould - HighSpec Properties
Rich Harvey – propertybuyer
Sebastian James - Hunter James
Jacqueline Parker – House Search Australia
 
 
COMMERCIAL AGENCY – SMALL
Commercial Property Group - Bankstown
Commercial Property Group - Bennett
Knight Frank Wagga Wagga
MMJ Real Estate
PRDnationwide - Norwest
Sutton Anderson
COMMERCIAL AGENCY – LARGE
CBRE
CI Australia
Colliers International (NSW)
Knight Frank
 
 
COMMERCIAL PROPERTY MANAGER
Jason Bowen - First National Commercial Shultz/Taree
David Ferreri - Coutts - Wetherill Park
Marlene Lynam - Highlands Property
Petah Richards - CBRE
Maidee Tirado - Knight Frank Australia
 
 
COMMERCIAL SALESPERSON
Hugh Anderson - Sutton Anderson
Sam Brewer - JLL
Michael Crombie - Colliers International (NSW)
Kymbal Dunne - Knight Frank
David Inkster - PRDnationwide - Norwest
Miron Solomons - Colliers International (NSW)    CORPORATE SUPPORT
Laura Beattie – auctionWORKS
Sarah Bester - Ray White Double Bay
Rachel Lilley - McLachlan Partners
Sonia Merciai - Laing+Simmons Corporation
Kristina Munro - Commercial Property Group – Bennett
Belinda Tolevski - Colliers International (NSW)
 
 
DIGITAL MARKETING
Sponsored by realestate.com.au
Chadwick Real Estate
Colliers International (NSW)
Cooley Auctions
Di Jones Real Estate
Pilcher Residential
 
 
INNOVATION
Sponsored by Rockend
Di Jones Real Estate
Laing+Simmons Corporation
Raine &amp; Horne Terrigal - Avoca Beach
Raine &amp; Horne Concord
Thirdi Sales &amp; Leasing
 
 
JOHN GREIG OAM COMMUNITY SERVICE
Sponsored by REI Super
Hugh Bateman - The Property Shop (NSW)
Christian Bracci – Raine &amp; Horne Concord
Aris Dendrinos - Richardson &amp; Wrench Hurlstone Park and Marrickville Kathryn Hall – Kathryn Hall Real Estate
Peter Mylonas - Peter Mylonas Property Solutions
Ian Qiu - Morton
Edward Riley – McGrath Estate Agents
 
 
PROPERTY MARKETER
Kate McCullagh - Di Jones Real Estate
Thomas Mosca - CBRE
Louisa Jackson – Langulin
Cranston Schwarz - LJ Hooker Freshwater
Sean St Clair - Ray White Lower North Shore
Anna van Schie - Ray White Balgowlah
 
 
REAL ESTATE AGENCY – SMALL
John Flood Estate Agents
Justin Ferguson Property Specialists
Lawson Estate Agents
One Agency Reeves Properties
Ray White Rural Temora
Unrealestate Coffs Coast   REAL ESTATE AGENCY – MEDIUM
Sponsored by Industrie Media
Callagher Estate Agents
McGrath Estate Agents - Wollongong
Raine &amp; Horne Double Bay
Strathfield Partners Real Estate
 
 
REAL ESTATE AGENCY – LARGE
Sponsored by PropertySafe
Chadwick Real Estate
Morton
Ray White Lower North Shore
 
 
RESIDENTIAL PROPERTY MANAGEMENT TEAM
Chadwick Real Estate - St Ives
Dowling Real Estate Raymond Terrace
Dukes Estate Agents
Leah Jay
Morton
Richardson &amp; Wrench Hurlstone Park
 
 
RESIDENTIAL PROPERTY MANAGER
Sponsored by Direct Connect
Maria Eveleigh - Richardson &amp; Wrench Hurlstone Park &amp; Marrickville
Melissa Howard – Morton
Michelle Lucas – LJ Hooker Freshwater
Zac Morgan - Living Here Double Bay
Laetitia Pearce - Home Specialist Property Management
Emma Prgomelja – Di Jones Real Estate
 
 
RESIDENTIAL SALES TEAM
HOME789
McGrath Estate Agents - Coogee
McGrath Estate Agents - Edgecliff
McGrath Estate Agents - Terrigal
Raine &amp; Horne Terrigal - Avoca Beach
Strathfield Partners Real Estate
 
 
RESIDENTIAL SALESPERSON
Sponsored by realestate.com.au
James Crow – Morton
D'Leanne Lewis – Laing+Simmons Double Bay and Laing+Simmons Bondi Beach
George Rafty - First National Newcastle City
Nick Separovich - McGrath Estate Agents
Ettiene West - Morton
 
 
RISING STAR
Henry Burke - Colliers International (NSW)
Jessica Male - JLL
Peter Mihailou - Knight Frank Australia
Danny Shi – CBRE
Cameron Wakeham - Colliers International (NSW)
Brian Whiteman – McGrath Estate Agents
 
RURAL MARKETER
Sponsored by realestate.com.au
Richard Gemmell – Elders Real Estate
David Goldring – The Property Shop (NSW)
Edward Zouch Hamilton - Ray White Rural Forbes
Richard Royle – Colliers International (NSW)
Sam Triggs - William Inglis &amp; Sons
 
 
YOUNG AGENT
Sponsored by Commander
Elodie Fabre - Di Jones Real Estate
David Goldring - The Property Shop (NSW)
Natalie Jo Lett - Lawson Estate Agents
Alyse Pilley - The Property Shop (NSW)
Cameron Porter - Hunter James Exclusive Buyers Agents
</body></html>

REINSW announce finalists in annual awards

<html><body>
The decision to give homebuyers of properties with swimming pools 90 days to rectify non-compliant swimming pool barriers has been lauded by the Real Estate Institute of New South Wales.  Minister for Local Government Paul Toole announced on March 11, 2016 the new regulations applying to the sale of properties with swimming pools to take effect from April 29. 
“From 29 April 2016, vendors will need to attach to the contract of sale a Certificate of Compliance, or a Certificate of Non-Compliance outlining what needs to be fixed,” REINSW president John Cunningham said. “This is a sensible approach given the ongoing issues and delays over the last three years in regard to these important regulations." “It is great to see that amendments have been made to allow these regulations the ability to be successfully implemented and help make our backyards safer,” Cunningham said. As part of the regulations, every new tenancy application to the Residential Tenancy Tribunal must also have a compliance certificate if the property has a swimming pool. 
</body></html>

PROPERTY 101 New regulations on backyard pools receives REINSW support

<html><body>
Fearing that the property market will be used as a ‘rescue’ in the upcoming New South Wales state budget, the Real Estate Institute of New South Wales are warning the government to avoid the pressure of the federal budget to do so.
REINSW president Malcolm Gunning has urged Premier Mike Baird not to “follow the lead of previous governments who [have] used the property market to raise additional revenue” in a period where the market has shown recovery. He said that property shouldn’t be treated as a “cash cow” by the government.
“The property market is just showing signs of recovery and not all areas are enjoying growth. Property consumers and in particular first home buyers should not sit back and let this happen,” said Gunning.
He urged the state government not to increase land tax or stamp duty to plug budget holes.
In fact, some of his points closely match the <a href="/expert-insights/investing/the-reias-10-point-wishlist-for-the-federal-budget">10 point budget wish list submitted by the Real Estate Institute of Australia for the federal budget</a>.
Instead, a broadening of the GST tax base was suggested by Gunning.
“This should replace the revenue losses from the abolition of the discriminatory and inefficient state taxes,” he said.
<blockquote>
The REINSW urged the state government not to increase land tax or stamp duty to plug budget holes.
</blockquote>
“We have called on other state property institutes, associations and franchisors to voice their support for tax reform and we have already received backing,” he said.
“For too long the property market has been the state government’s cash cow and property consumers are now saying enough is enough.
New South Wales is expected to be $548 million over budget in transfer stamp duty collections for 2013/2014.
“Furthermore stamp duty rates have not been reviewed for 40 years. Bracket creep works in favour of government revenue and that is the reason it has not been reviewed. As a result of the failure to amend stamp duty rates, and the subsequent increase in property values over time, the average home is being taxed beyond that of which parliament initially intended,” he said.
“Change is long overdue and now is the time for Mr Baird to show he is a different sort of premier and remove these barriers to the property market and in particular provide support to first home buyers."
While Gunning suggested that pressure from the federal budget may encourage Baird to treat property in the manner of an additional revenue raiser, it may not indeed be the case that the federal budget has a significant effect on the property market’s strength.
Wakelin Property Advisory’s Richard Wakelin said that while the federal budget is a "horror budget", it’s unlikely to hinder the market.
“Although it may sound counter-intuitive, the sustainability of the property recovery will actually be helped by the response of consumers to the federal government’s austerity measures. It greatly reduces the likelihood of over-exuberance in the property market – which is already performing very strongly – and this subsequently transmitting into price inflation,” said Wakelin.
“It was the real threat of a resurgence in price inflation that was the greatest threat to the continuation of the property market’s recovery. Inflation had been stirring in recent months. Indeed it reached 2.9% in the March quarter, up from 2.2% six months earlier. If this trend persists it will inevitably force the Reserve Bank to raise the cash rate, possibly more than once.”
See over page for more 
 
<hr class="system-pagebreak">
Wakelin noted that it appears the RBA is confident in easing inflationary pressures, with wage restraint and the view that the property market is easing, and it has extended a period of stable interest rates.
“But observers of monetary policy will know that the Reserve Bank’s attitude can change in a relatively short time.  For instance, were the Australian Bureau of Statistics to report a spike in recorded inflation in July, when they next publish, then the pressure to raise interest rates could mount,” he said.
He noted that the treasurer’s efforts may have “done enough” to temper exuberant behaviour and shops and at auctions, but not to the extent of losing positive sentiment completely.
“So despite the broad criticism of the Treasurer’s first budget, ultimately, it is much less damaging to the economy – and the property market – that inflation is reined in by an austere fiscal policy rather than the Reserve Bank raising the cash rate – which is a very blunt instrument that often takes months to exert the desired effect,” he said.
Recently, <a href="/expert-insights/investing/how-does-the-budget-affect-property-investors">Josh Atherton answered the question ‘how will the budget affect property investors?’</a>, saying that there are some changes (or changes that didn’t appear) that many investors should be thankful for.
</body></html>

Reinsw

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Reinsw

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News