<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>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.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>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.</p>

<p>"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.</p>

<p><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" /></p>

<p>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.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>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.</p>

<p>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.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>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.</p>

<p>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.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>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.</p>

<p>&nbsp;</p>

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<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>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.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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;</p>

<p>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.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"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.</p>

<p>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.</p>

<p>A major focus of the design has been the public domain.</p>

<p>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.</p>

<p>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.</p>

<p data-end="239" data-start="66">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.</p>

<p data-end="442" data-start="241">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.</p>

<p data-end="661" data-start="444">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.</p>

<p data-end="909" data-start="663">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.</p>

<p><em>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></em></p>

<p data-end="1339" data-start="1019">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.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">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.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">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.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">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.</p>

<p><em>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></em></p>

<p><em>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></em><br />
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

<p data-end="492" data-start="327">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.</p>

<p data-end="843" data-start="497">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.</p>

<p data-end="1109" data-start="848">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.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


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

<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


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

Stock Levels

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<p><span>EXPERT OBSERVER</span></p>
<p><span>The seasonal surge in listing numbers is well underway, with fresh listings being added to the market up 16% relative to the end of winter, however, despite the upswing in new listings, fresh stock additions are tracking almost 4% lower than the at the same time a year ago to be at their lowest seasonal level since 2012. </span></p>
<p><span>The low level of new listing numbers can be attributed to weak vendor confidence; no surprise given housing market conditions have weakened and selling conditions have become more challenging.</span></p>
<p><span><a href="https://www.propertyobserver.com.au/images/2018/10/19/stock%20level%201.jpg" target="_blank">Click here to enlarge</a>.</span></p>
<p><span> <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/2018/10/19/stock%20level%201.jpg" alt=""></span></p>
<p>Although freshly advertised stock is low, total advertised listing numbers have been trending higher as the rate of absorption slows. In fact, if the current trend continues, we will see the number of properties available for sale exceed the recent 2012 peak in total advertised stock levels. Total listing numbers are 10.2% higher than year ago and at their highest level for this time of the year since 2012.</p>
<p>The rise in total listing numbers isn’t due to a panicked surge in new listings. This is more about less demand which is causing a rise in relisting’s along with longer selling times and fewer successful sales at auction.</p>
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<p><span>The typical capital city dwelling sold by private treaty is now taking 53 days to sell compared with 42 days a year ago and discounting rates have risen to an average of 6.5%, up from 6.0% a year ago.</span></p>
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<p>More stock means more choice for buyers and harder selling condition for vendors – essentially abuyers’ market. Buyers have little sense of urgency under these conditions; they can negotiate hard, take their time to make a purchase decision, and if they feel a property price doesn’t reflect fairvalue, they can easily move onto the next property option.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/19/stock%20level%204.jpg" target="_blank">to enlarge. </a></p>
<p><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/2018/10/19/stock%20level%204.jpg" alt=""></p>
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<p><span>With so much competing stock on the </span>market, vendors will need to be reasonable with their pricing expectations and ensure their marketing campaign is as effective as possible in order to stand out from other stock for sale.</p>
<p><em><span class="s2"><em><em>Tim Lawless is the national research director of CoreLogic RP Data </em>and can be contacted<a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank"> here.</a></em></span></em></p>
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Buyers back in the driver's seat as stock levels surge to highest levels since 2012

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<p class="post-title entry-title">One of several reasons that some of Australia's property markets might fare surprisingly well in 2018 is the looming equities correction, driven by volatility in the US and elsewhere. </p>
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<p>It's now become clear (if it wasn't already obvious) that <a href="http://petewargent.blogspot.com.au/2018/01/rate-hikes-are-not-on-cards" target="_blank">interest rates aren't going to be hiked</a> this year, and probably not next either. </p>
<div>Employment is picking up nicely in some capital cities, and population growth is rising too, driving demand for housing. </div>
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<div>Meanwhile, the lack of enticing alternatives will keep a healthy volume of investors interested in real estate, with the cash rate stuck at record lows for the foreseeable future. </div>
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<div>Since closing at 6135.81 on January 9, the Aussie share market as measured by the ASX 200 index has already dropped by -5.13 per cent. </div>
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<div>An inauspicious start to 2018 to say the least. </div>
<div><span><strong> </strong></span></div>
<div><span style="text-decoration: underline;"><span><strong>'Pain trade'</strong></span></span></div>
<div><span> </span></div>
<div><span>US stock futures are up quite strongly at the time of writing, so perhaps tomorrow will be a better trade Down Under. </span></div>
<div><span> </span></div>
<div><span>But somehow it seems doubtful that stock market nerves are going to be settled for a while yet. </span></div>
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<div><span>That's the uncanny tendency of markets to deliver the maximum amount of punishment to the most investors from time to time, especially after a long, strong run.</span></div>
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<div><span>Myer (ASX: MYR) finished today's trade with a fresh low close of 55 cents. </span></div>
<div><span> </span></div>
<div><span>Shorters should now be wary of the takeover risk. </span></div>
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<div><span><span>PETE WARGENT is the co-founder of </span><a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a><span> property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a><span>.</span></span></div>
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pwargent-M4siyDbqQY

Share correction could help Australia property markets

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><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/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
<p><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/2017/10/26/NSW.jpg" alt=""></p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
<p><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/2017/10/26/Vic.jpg" alt=""></p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
<p><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/2017/10/26/QLD.jpg" alt=""></p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
<p><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/2017/10/26/NT.jpg" alt=""></p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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ckusher-ujnxiKuFQs

Dwelling construction surges yet housing turnover falls

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<p>Zuccoli, <span>a relatively new suburb in the City of Palmerston</span><span>,</span> has experienced the biggest stock increase in the Northern Territory over the past 12 months, according to Investar.</p>
<p>Investar says its sales stock has grown by 80%, from 60 houses this time a year ago to its current 108 offerings.</p>
<p>It is followed by Muirhead with 49% growth and Gunn with 37% growth. </p>
<p><em><a href="https://www.propertyobserver.com.au/images/2019/3/28/zuccoli.jpg" target="_blank">Click here </a>to enlarge:</em></p>
<p><em><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/2019/3/28/zuccoli.jpg" alt=""></em></p>
<p><em>Source: Investar</em></p>
<p>A three bedroom Zuccoli home currently on the market is priced at $499,000 (pictured above).</p>
<p>Set on a 570 square metres, the nearly new house at <a href="https://www.realestate.com.au/property-house-nt-zuccoli-130765978" target="_blank">35 Myrtlewood Crescent </a>comes with three bedrooms, two living areas, well-appointed kitchen, and established gardens. </p>
<p>It also features air conditioning throughout, solar power system and double lock up garage. </p>
<p><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/2019/3/28/zuccoli%202.jpg" alt=""></p>
<p>Another example is a four bedroom Zuccoli house priced at $475,000 (pictured above).</p>
<p>Built in 2015, the house at<a href="https://www.realestate.com.au/property-house-nt-zuccoli-130597222" target="_blank"> 41 Brook Circuit</a> comprises four bedrooms, separate media room, living room, and large back verandah.</p>
<p>It's within close proximity to new <span>schools and the local IGA.</span></p>
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j.ballantyne1990-6AQqhLzZaK

Zuccoli experiencing NT's biggest jump in stock: Investar

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<p>Upper Kedron, <span>an outer suburb of Brisbane</span>, has experienced the biggest stock increase in Queensland over the last 12 months, according to Investar.</p>
<p>Investar says its sales stock has grown by 170%, from 27 houses this time a year ago to its current 73 offerings.</p>
<p>It is followed by Rothwell with 129% growth and Gleneagle with 119% growth. </p>
<p><em><a href="https://www.propertyobserver.com.au/images/2019/3/28/qld%20investar.jpg" target="_blank">Click here</a> to enlarge:</em></p>
<p><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/2019/3/28/qld%20investar.jpg" alt=""></p>
<p><em>Source: Investar</em></p>
<p>A Upper Kedron offering currently on the market is a five bedroom house priced over $620,000 (pictured below).</p>
<p>Set on a large 773 square metre block, the family home at <a href="https://www.realestate.com.au/property-house-qld-upper+kedron-130732070" target="_blank">16 Thomas Place</a> comes with five bedrooms, separate areas for lounge, dining and casual living, kitchen  and alfresco patio.</p>
<p><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/2019/3/28/upper%20kedron%202.jpg" alt=""></p>
<p>Another four bedroom Upper Kedron house on a 659 square metre block has been recently sold for $612,000 (pictured below).</p>
<p>The house at<a href="https://www.realestate.com.au/sold/property-house-qld-upper+kedron-130179426" target="_blank"> 5 Kulnura Street </a>comprises four bedrooms, multiple living areas, modern kitchen, and covered alfresco area.</p>
<p>It's close to parkland, shops, train and schools. </p>
<p><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/2019/3/28/upper%20kedron%203.jpg" alt=""></p>
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Brisbane's Upper Kedron house stock increases 170% in a year: Investar

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<p>South Nowra, a suburb of Nowra in the Shoalhaven in New South Wales, has been ranked as having the nation's biggest stock increase.</p>
<p>Its sales stock has grown by 252%, from 23 houses this time last year to its current 81 offerings, according to Investar.</p>
<p>It suggests postcode 2541's median house price sits at $566,000, with 14.3% growth over the past year.</p>
<p>Its median rent sits at $430 per week, which has increased 7.5% over the past year.</p>
<p>The rental yield sits at 4%.</p>
<p>A South Nowra four bedroom house has been recently sold for $496,010 (pictured below).</p>
<p>It was sold by Jacqui Grapp from Raine&amp;Horne on May 31.</p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-south+nowra-127519710" target="_blank">Situated at 7 Barbata Grove</a> (pictured above), the home on a 700 square metre block comes with four bedrooms, open plan kitchen and dining, lounge area and double garage. </p>
<p>Other features including outside access via sliding doors, timer laminate flooring and rear yard access for the boat. </p>
<p>Another Caladenia Crescent four bedroom was sold for $555,000 by Megan Liddicoat and Scott Baxter from Ray White on April 30.</p>
<p>It was last traded for $181,500 in 2016 (pictured below).</p>
<p>Located within the Green Orchid estate,<a href="http://www.realestate.com.au/sold/property-house-nsw-south+nowra-127874622" target="_blank"> the 50 Caladenia Crescent</a> home comprises of four bedrooms, gourmet kitchen, and open plan living and dining.</p>
<p>Nestled on a 660 square metres, the rear yard is level and freshly turfed with double gates providing side access for boats, caravans and trailers, plus a rear garden shed/ workshop.</p>
<p><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/2018/6/19/50%20caladenia%20cres.jpg" alt=""></p>
<p>A South Nowra offering currently on the market is a four bedroom house priced at $525,000 (pictured below)</p>
<p>It was listed by Peter Russell and Ashleigh Beaufils from Integrity Real Estate.</p>
<p>Positioned on a 458 square metre block, <a href="https://www.realestate.com.au/property-house-nsw-south+nowra-128420022" target="_blank">the 52 Basil Street</a> house contains four bedrooms, separate lounge room, dining and living, and double garage. </p>
<p>It is located just a short stroll to the local park and a short drive to shops and medical. </p>
<p><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/2018/6/19/52%20basil%20st.jpg" alt=""></p>
<p>Another South Nowra four bedroom house has been listed for $545,000 to $565,000 (pictured below).</p>
<p>It is offered by Bohdan Brumerskyj from Professionals Clyde Poulton Real Estate.</p>
<p><a href="https://www.propertyobserver.com.au/%20https:/www.realestate.com.au/property-house-nsw-south+nowra-128214230" target="_blank">Located at 25 Terralla Grove</a>, the house features four bedrooms, kitchen with gas cooking, three well-sized living areas and two-car electric door garage.</p>
<p>It is only minutes from the centre of Nowra, and close to schools, sporting facilities and state forests.</p>
<p><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/2018/6/19/25%20terralla%20grove.jpg" alt=""> </p>
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South Nowra experiencing biggest jump in stock 

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<p>Melbourne has over 6.5 percent less fresh listings than it had at the same time last year, while Adelaide and Brisbane aren't too far behind.</p>
<p>Sydney's new 8,300 listing represents a 0.4 percent increase in fresh stock to their market compared to a year ago.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/3/14/properties_listed.jpg" target="_blank">to enlarge.</a></p>
<p> </p>
<p> <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/2018/3/14/properties_listed.jpg" alt=""></p>
<p>Sydney's overhang still comes from last year, with 26,800 total listings showing a 22.5 percent increase on how many listings they had last year.</p>
<p>Hobart is still well short of stock with dwellings flying off the shelves. They're 34.5 percent down on total number of listings from this time last year.</p>
<p>In total there are nearly 30,000 new listings, down 3.2 percent from this time last year.</p>
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jrobinson-rf4aSBido9

Melbourne's fresh listings well down while Sydney still sees major overhang from 2017

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<p>Montello is one of the few Tasmanian locations that Investar calculates has secured a big increase in stock.</p>
<p>The sales stock growth was recently calculated as up by 50%, from 20 houses this time last year to its current 30 offering. </p>
<p>Investar put its median rental at $240 a week.</p>
<p>The median house price sits on $189,000, according to CoreLogic.</p>
<p>A three-bedroom house currently on the market is an <a href="https://www.realestate.com.au/property-house-tas-montello-127253150" target="_blank">8 Alice Street</a> offering, which is priced at $199,000 plus. </p>
<p>It came with open plan kitchen and dining and garage space.</p>
<p>Another three bedrooms offering nearby is priced at $169,000 (pictured below).</p>
<p>This <a href="https://www.realestate.com.au/property-house-tas-montello-119377119" target="_blank">2 Morse Street house</a><a href="https://www.realestate.com.au/property-house-tas-montello-125987954" target="_blank"> </a>is situated about 10 mins walk to CBD. </p>
<p>It was previously rented fully furnished, (all furniture is included in the sale) for $220 per week.</p>
<p>A Margaret Street house has been sold for $213,000 this January. </p>
<p><a href="https://www.realestate.com.au/sold/property-house-tas-montello-127016182" target="_blank">The 8 Margaret Street </a>house came with three bedrooms and two living.</p>
<p>Set on Mace Street, near Montello Primary School, a three bedroom house sold for $155,000 in 2016. </p>
<p><a href="https://www.realestate.com.au/sold/property-house-tas-montello-115131635" target="_blank">The 19 Mace Street house </a>came with a separate garage and the 800 ㎡etre yard (pictured below).</p>
<p><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/2018/1/31/montello%202.jpg" alt=""></p>
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Montello ranks as having Tasmania's biggest stock rise

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<p>Lathlain is the Western Australia location which has had a dramatic decline in its house listings.</p>
<p>Investar suggests that the decrease of sale stock is around 61%, from 46 houses this time last year to its current 18 offerings. </p>
<p>There is one Rayment Street offering under contract priced at over $749,000 (pictured below).</p>
<p>Built in 1961, the <a href="https://www.realestate.com.au/property-house-wa-lathlain-127476026" target="_blank">25 Rayment Street home</a> comes with three bedrooms, separate large lounge room an open plan kitchen.</p>
<p>Additional features include ducted evaporative air-conditioning, ceiling fans in kitchen and bore-fully reticulated gardens.</p>
<p><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/2018/2/26/25%20rayment%20street.jpg" alt=""></p>
<p>A Howick Street four bedroom house has been recently sold for $600,000 (pictured below).</p>
<p>It was sold by Ken Nelligan from LJ Hooker.</p>
<p>Located at<a href="https://www.realestate.com.au/sold/property-house-wa-lathlain-126988670" target="_blank"> 50A Howick Street</a>, the Western Australian home comes with four bedrooms, separate formal lounge/theatre room and open plan kitchen.</p>
<p>It is only a short walk to Victoria Park train station, and minutes to Crown Entertainment complex, Perth Stadium and Lathlain Park.</p>
<p><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/2018/2/26/50a%20howick%20st.jpg" alt=""></p>
<p>Another Lathilain three-bedroom house was sold for $670,000 in July 2017 (pictured below).</p>
<p><a href="https://www.realestate.com.au/sold/property-house-wa-lathlain-124548662" target="_blank">The 26 Rutland Avenue house</a> was sold by Craig Wildman from Acton.</p>
<p>Fully renovated, the 1920s built home comes with three bedrooms, modern kitchen and large backyard.</p>
<p>It also has double glazed windows,  ducted reverse cycle air conditioning and a CCTV system.</p>
<p><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/2018/2/26/26%20rutland%20avenue.jpg" alt=""></p>
<p>Investar puts it the suburb median rental at $360.</p>
<p>The suburb's median house price sits on $660,000 according to CoreLogic. </p>
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