Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

<html><body>
The majority of respondents in Finder's monthly rate prediction survey expect that the Reserve Bank will not change the official cash rate this month.
The cash rate currently sits at 2.25% after a 25 basis point cut in February.
Of the 42 experts surveyed by the mortgage comparison website, just 10 believe that the Reserve Bank will cut the cash rate today. Those predicting a cut include Bill Evans of Westpac and ANZ chief economist Warren Hogan, who said: "The Reserve Bank has signalled they're likely to ease policy further. We still haven't seen any evidence of a sustained pick-up in non-mining business investment and the Australian dollar has been a bit high in previous weeks."
ANZ expects the official cash rate to drop to 2.0%. In today's Morning Focus release, however, the bank's researchers did note that the Reserve Bank's decision "looks to be a close one", observing the results of a recent Bloomberg survey, where 13 of 30 economists predicted a rate cut.
"With iron ore prices continuing to fall and the non-mining economic recovery continuing to disappoint, the decision seems at face-value to be simple one. However, the booming Sydney housing market has policymakers nervous and there is concern that a rate cut won't spur activity as much as is needed at this late stage in the easing cycle," reads ANZ's note.
However, Commonwealth Bank's Michael Blyth and NAB's Alan Oster believe that rates will remain unchanged today.
Most of the survey respondents predict the Reserve Bank will drop the cash rate by June.
Scott Haslem of USB said: "While you couldn't rule out an April cut, we believe the Reserve Bank will wait to see late-April's Q1 Consumer Price Index print, which should be low enough for them."
 
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jrichardson-uRX5hFdKfN

Most experts expect Reserve Bank will hold rates for April: Finder

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AFG, Australia's largest mortgage broker, processed $5.2 billion in home loans last month - it's biggest month in the 21 years it has been in business.
Investor activity in NSW and VIC drove the strong figures.
The $5.2 billion figure represents a 29% increase on March 2014.
AFG estimates it has approximately 10% of the total mortgage market.
Volumes were particularly strong in NSW which recorded a 47% increase on March 2014 ($1.9 billion processed) and Victoria, where a 30% greater volume was processed ($1.2 billion).
Increases reported for other states were SA (23%), QLD (16%) and WA (11%).
Property investment nudged to a new record high of 41.7%, driven by especially strong activity in NSW, where 52.9% of all mortgages were processed for investors.
This investor loan figure compares with 37.7% in SA, 36.7% in Victoria, 33.6% in WA and 33.3% in QLD.
Mark Hewitt, the general manager of sales and operations says what happened in March was "really the story of Sydney and Melbourne".
"Volumes in other cities were strong but unspectacular," said Hewitt.
Fixed rate loans comprised 14.2% of the mortgage mix, with 68.8% of borrowers opting for standard variable loans.
Loan to value ratios (LVRs), loans stated as a proportion of the value of a property, remained steady at 67% nationally, relatively lower in NSW (64%) than in Victoria and WA (71% in both cases) on account of the typically higher levels of equity provided by investors seeking loans.
First home buying continues at very low levels – 7.4% nationally – especially low in NSW where first home buyers comprise just 2.4% of new borrowers, SA (4.6%) and QLD (5.0%.
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jchancellor-FAypfDUnLy

AFG processes $5.2 billion in March loans - but just 2.4% to first home buyers

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Mortgage settlement activity increased by 20% last year as home owners took advantage of low interest rates to refinance their loans and upgrade their properties.
Key players in the home lending industry who participated in the Deloitte Australian Mortgage Report for 2015, which made that finding, unanimously expected refinancing and upgrading activity to continue be the primary driver of the market over the next three years.
The panellists forecast loan settlements would increase by a further 6 to 10% in 2015. Deloitte financial services lead Kevin Nixon said the record $33.2 billion of home finance commitments in December 2014 would boost the industry’s confidence in the prediction.
Despite the strong increase in settlements, the fact that many new loans refinanced existing mortgages meant overall credit growth was more constrained at around 7%.
“Credit growth over recent years has been lower than historical levels,” said Macquarie Bank head of intermediary banking Frank Ganis, who participated on the report’s panel. “Lending growth has been in refinances, with new lending at lower levels of around 3 to 4%. The market has also seen an increase in demand by investors.”
Local investors would be the second biggest borrowers in 2015, the panellists believed, although they commented that first home buyers who bought for investment could be concealed within that category.
“It is a worry as there is a hidden amount of first home investors that don’t get captured as first home buyers when you look at the official statistics,” ANZ’s Bill Armour said in the panel discussion. “The risk is that they classify anyone who has said they’re an investor as a non-first home buyer and as such are somewhat demonised as driving house prices up, but actually they are just savvy young people who have figured out a way to enter the market.”
The research also revealed that buyers were typically better informed about their mortgage options than they had been in the past.
click to open in new window:
<a href="/images/2015/03/27/zoe-mar-27-one.jpg" target="_blank"><img src="/images/2015/03/27/zoe-mar-27-one.jpg" alt=""></a>
While borrowers were still most concerned with interest rates when they were choosing a mortgage, product features such as repayment flexibility and switching, online access to accounts and applications, and information and customer service were also important.
“[Lenders] don’t have to be the cheapest but [they] do have to be competitive and be seen to go the extra mile for the consumer,” said Deloitte financial services partner James Hickey, who lead the research.
Mortgage brokers were expected to increase in importance, although panel participants thought the role of brokers would change as technology evolved.
“As direct online applications start to emerge you will see some customers use that channel, which is good for choice,” said panellist, ME Bank’s Angela Middleton. “But there will always be an important role for brokers to have a face to face with customers, particularly customers who wish to better understand the product and get more information about what is available and what’s best for them.”
Panellists commented that few people felt comfortable enough with mortgage borrowing that they were prepared to go through the entire process online without assistance.
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zfielding-GvX3Uq9KTa

Low interest rates prompts 20% rise in mortgage settlements: Deloitte

<html><body>
GUEST OBSERVATION
Reverse mortgages are a way to release the equity in a home, which is an important component of wealth for many Australians.
Such mortgages have been proposed by the <a href="https://fsi.gov.au/">Financial System Inquiry</a> as a way to support the dissipation of wealth by retirees and boost the efficiency of Australia’s financial system.
The following chart shows the stark increase in mortgage lending by Australian banks since the global financial crisis (GFC). <a href="https://theconversation.com/australian-banks-are-too-exposed-to-mortgages-but-what-if-the-world-was-flat-31000" target="_blank">Australian banks hold approximately $1.3 trillion in mortgages.</a>
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/76264/area14mp/image-20150327-16112-131rvgy.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/76264/width668/image-20150327-16112-131rvgy.jpg" alt=""></a>
Mortgage loans provided by Australian banks (Authorised deposit-taking Institutions) Australian Prudential Regulation Authority
Reverse mortgages have matched this growth in relative terms but remain at the margin, with a total exposure of A$2.9 billion (see the line at the bottom of the chart), far below standard mortgages and higher risk loans such as interest-only and low-documentation loans. Despite this growth in volume, the number of lenders has shrunk over time. According to the Financial System Inquiry, more than 15 lenders existed before the GFC but just five remain today.
Why are mortgages so popular and reverse mortgages not so, despite an ageing population with many billions of home equity waiting to be released?
How reverse mortgages work
A reverse mortgage allows homeowners to access a lump sum or an annuity, using their home as collateral. The benefit of reverse mortgages is that borrowers often continue to live in the property until they die. The decision to sell a house is often an emotional one and can be avoided with this product because the loan may be repaid from the sale of the house after death.
Reverse mortgages may also be used to fund outgoings or, in aged care, accommodation bonds that are typically in the hundreds of thousands of dollars.
Alternatives exist: Australians who wish to access home equity often prefer to sell the home and buy or rent a smaller one. This decision may trigger costs such as capital taxes and other fees but may also have merits, as retirees move into a home of the space and standard they require. Free cash may then be converted into annuities, funding a monthly income for instance.
How does a reverse mortgage differ from a standard mortgage?
In a reverse mortgage, the loan amount increases over time, up to a limit, as the borrower draws on the line of credit. The loan amount grows further as interest is added to the outstanding sum. As borrowers often have limited other assets and income with which to repay the loan, and if they enjoy a long life, the loan amount can quickly compound to unexpected levels.
To protect consumers (covered by the National Consumer Credit Protection Act), legal and financial advice via standardised calculators must be provided to customers for these products. In addition, banks provide a “no negative equity” guarantee, which means the loan amount cannot exceed the property’s value.
Finally, interest rates are generally higher than for standard home loan products due to less competition in this sector and higher risks for the lender. In this part of the market lenders tend to provide no more than 50% of a property’s value while standard mortgages tend to be around 80% of value - higher if mortgage insurance is used.
What are the risks for lenders?
The no negative equity guarantee may result in losses if loan amounts exceed property values. Despite generous collateral buffers, this can happen in a number of ways. First, home prices may fall. It is not unreasonable in financial markets to see drops equivalent to prior rises.
In addition, home owners have a right to live in the property and repayment occurs only after death. If a borrower enjoys a long life after taking out a reverse mortgage, or if the loan amount accrues at a higher rate than house prices the lender can be caught by the no-negative-equity guarantee. Longevity risk is very difficult to assess as it requires predicting life expectancy.
Longevity risk is also subject to adverse selection. Unlike in life insurance, it is healthy consumers who are likely to be keen on reverse mortgages.
In addition, the limited number of reverse mortgages makes it difficult for banks to do their risk analysis. Lenders condition the loan amount on the age of borrowers (the older, the larger the possible loan amount).
Borrowers also have prepayment options and may refinance and prepay a reverse mortgage if they find a cheaper lender, exposing the original lender to further risk.
Another aspect is that once the negative equity threshold is reached the borrower has no further financial incentive to maintain the property, which could result in a further depreciation of the property value.
How to promote home equity release
Home equity release is positive for the efficiency of the Australian economy and in line with our concept of retirement. In the US the government provides no-negative-equity guarantees to take some risk off the lenders and support this market.
The Australian government might not be prepared to indemnify the industry for risk. However, the development of such markets could be supported with more general measures.
Firstly, <a href="https://theconversation.com/reverse-mortgages-need-a-rethink-if-theyre-the-new-age-pension-26433" target="_blank">homes may be further recognised in the means test that determines the age pension.</a> Such a measure may better match the needs of the population.
Secondly, a big industry concern is the limited availability of risk transfer solutions, such as derivatives and securitisation structures, which would allow banks to reduce both house price risk and longevity risk, at reasonable cost. It is difficult for banks to hedge or transfer longevity and house price risk. This is something of a catch-22 for the sector - only more equity release may lead to more risk transfer solutions and vice-versa.
Harry Scheule is associate professor, finance, UTS Business School at University of Technology, Sydney.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

Ageing population calls for more reverse mortgages: Harry Scheule

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Mortgage broker, N1 Finance &amp; Lease, has launched Australia's first Mandarin-language mortgage comparison website, chengdai.com.au.
The website, written by N1 Finance brokers, offers home loans from more than 30 lenders.
N1Finance's Sydney based managing director, Ren Wong said the website would initially target the estimated one million local Chinese in Australia.
"Initially the website is likely to attract 400 unique visitors per month but is expected to grow quickly with approximately one million people from a Chinese heritage residing in Australia," he said.
<a href="https://chengdai.com.au" target="_blank">The website</a> cannot be accessed in China.
Global property website Juwai.com suggest around 40% of foreign Chinese buyers borrow when buying offshore property.
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Mandarin-language mortgage comparison website launched in Australia

<html><body>
<div class="cq-article-content-paras section">
Treasurer Joe Hockey, launching the government's discussion paper on tax reform in Melbourne today, has refused to rule out changes to negative gearing.
He says he disagreed with the long held perspective of the economist Saul Eslake.
However <a href="https://bettertax.gov.au/files/2015/03/TWP_combined-online.pdf" target="_blank">the paper said</a> negative gearing played a contentious role in driving up property prices when combined with the 50% discount on capital gains.
"We haven't done what our predecessors did and start ruling things out," Mr Hockey said.
"We are putting the whole system down and asking what could be done better," he said.
Negative gearing was a hot topic on last Monday night’s Q&amp;A on the ABC.
Hockey, then and this morning, cited that when the Hawke government did away with it, rent prices shot up in some parts of Australia.
Laura Tingle in the Australian Financial Review noted the Abbott government had "thrown open the doors to a broad-ranging debate on tax reform – from changing the rate and base of the goods and services tax to increasing capital gains tax, reducing superannuation concessions, removing dividend imputation, and dealing with bracket creep by indexing income tax thresholds."
Joe Hockey said the discussion paper marked "the start of a conversation about how we bring a tax system built before the 1950s into the new century" as globalisation and the rise of the digital economy had the potential to render Australia's heavy reliance on income taxes unsustainable.
<a href="https://www.abc.net.au/am/content/2015/s4207069.htm" target="_blank">Earlier on the ABC's AM</a> he was asked by Michael Brissenden: "So are these things in the mix in the conversation - the super tax, and negative gearing?" JOE HOCKEY: "Well we haven't done what our predecessors did and start ruling things in and out, because if you're having a fair dinkum conversation with the Australian people, everyone should be fully informed about what the pressures are on the tax system, everyone should be fully informed about the success or otherwise of individual taxes, and everyone should be able to express an opinion.  And if you go to the website bettertax.gov.au, people will be able to see all the information there and be able to express a view."  MICHAEL BRISSENDEN: "So negative gearing is in the mix, then?" JOE HOCKEY: "Well again, it's so tempting to get into this rule-in, rule-out situation."
MICHAEL BRISSENDEN: "Okay."  JOE HOCKEY: "We're putting the whole tax system down, all the concessions down, and asking Australians for their opinion about what could be done better."
Peter Martin in The Age noted that rather than critiquing the practice known as negative gearing, which allows Australians to write off against their income tax losses made from rental properties, the Treasury calls into question the tax arrangements that makes it profitable. 
"Since late 1999, capital gains tax has applied to only half of the profit made when each rental property is sold. 
"The paper says it is this arrangement rather than negative gearing itself that is driving investment in rental properties," the economics commentator at The Age noted.
The white paper advised the tax treatment of investment properties is the same as it is for investment in any asset that produces a mix of current income and capital gain.
"That is, the rental income is taxed at the individual’s marginal tax rate as it is earned, while generally only half of the capital gain is taxed, and only when the property is sold (or realised in some other way).
"Investment properties are the third most popular saving vehicle after the family home and superannuation.
"Many of the reasons people invest in housing over other assets have little to do with the tax treatment.
"However, the role of the tax treatment in driving investment in real estate and the impact that this has on housing supply and affordability is a contentious issue.
"One issue that is contested is the role that ‘negative gearing’ plays in driving investment in rental properties." (See the charts below). 
<a href="https://propertyobserver.com.au/images/2015/03/30/Picture%2034.png" target="_blank"><img src="/images/2015/03/30/Picture%2034.png" alt=""></a>
 
<a href="https://propertyobserver.com.au/images/2015/03/30/Picture%2035.png" target="_blank"><img src="/images/2015/03/30/Picture%2035.png" alt=""></a>
Click the images above to open in a new window.
On the family homes, the paper noted the family dwelling is both a consumer durable — a house provides benefits over time like a washing machine or a television — and also a savings vehicle.
Australian households hold 43% of total household assets in the value of the family home.
Of the 7.8 million households living in private dwellings in Australia in 2011, 5.2 million or 67% owned their own home (with or without a mortgage) and a further 2.3 million were renting either privately (25%) or in social housing (5%).
"Like most other OECD countries, Australia taxes owner-occupied housing more favourably than other types of investment (including dwellings purchased purely for investment).
"Both the ‘imputed rent’ — in other words, the value of housing services a home owner receives from their own home — and capital gains on the property are exempt from income tax; Chart 4.1 accordingly shows the effective tax rate of zero."
</div>
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<a href="https://propertyobserver.com.au/images/2015/03/30/Picture%2036.png"><img src="/images/2015/03/30/Picture%2036.png" alt=""></a>
Click on the chart above to open in a new window.
"This makes it an attractive vehicle for saving. The primary home is also exempted from the means-test for transfer payments.
"While the family home is exempt from paying land tax, it is subject to stamp duties and municipal rates levied by local and state governments.
"Given the central importance of the home for Australian families, there is a strong consensus that it would not be appropriate to tax either the imputed rent on owner-occupied housing or capital gains derived from it." 
</div>
</div>
</div>
 
</div>
</div>
</div>
 
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Joe Hockey says negative gearing tax reform can't be ruled out, but the family home is off limits 

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The Australian Financial Review columnist Chris Joye has suggested "the Reserve Bank of Australia's governor Glenn Stevens is trying to unravel a <a href="https://www.britannica.com/EBchecked/topic/239059/Gordian-knot" target="_blank">Gordian knot</a> created by his institution's inconsistencies".
"The RBA is blowing the mother of all housing bubbles to deflate an overvalued exchange rate," Joye wrote today.
He said "it is replacing one asset pricing conundrum with another, arguably more dangerous, one" with "unprecedented monetary policy settings in the form of the cheapest borrowing rates in history to put downward pressure on the Aussie dollar".
Joye suggests "when the RBA cut rates in February it judged the local housing market was cooling".
"Much like it thought rate cuts in 2013 would not fuel an unsustainable housing boom that would force regulators to introduce macro-prudential rules to slow credit growth running at three times the rate of incomes," Joye wrote.
"On all these counts the RBA's forecasts have proven badly wrong.
"It has probably been blindsided by housing dynamics over the last couple of years because it has never confronted these conditions before.
"Back in 1991 the value of housing debt divided by disposable household incomes was just 35%.
"Today it is over 140% - beyond any previous peak.
"And climbing every day."
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"RBA is blowing the mother of all housing bubbles": Chris Joye

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Australia’s largest mortgage broker has appointed Chris Slater as the general manager AFG Home Loans. 
Slater has been with the organization for eight years starting out as a national account manager and then moving to the role of state manager for NSW/ACT in 2008. 
In 2013, Slater was appointed to the role of head of sales and operations.
AFG managing director Brett McKeon said Slater has been a key player in growing the business.
AFG Home Loans division is a key plank of our business strategy. 
Slater and his family are relocating from Sydney to be based in AFG’s Perth head office this week.
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AFG Home Loans appoints Chris Slater as general manger

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Hi Margaret,
I have just purchased a house as a principle place of residence for $295,000 with $235,000 left in the mortgage and $225,000 in an offset account. 
We are using the money in the offset account (approximately $30,000) for renovations, and are looking to spend the rest on the purchase in (hopefully two) investment properties.   Do you think this is a good plan of attack or should I keep the money in the offset account and use the equity in the principle place of residence as a deposit on an investment property? 
With $30,000 on renovations hopefully I can have the house re-evaluated for $350,000. 
Kind regards,
Dave
Hi Dave, 
When investors come to my company Destiny for assistance, around 80% of them have finance structures in place that are not well thought through and which are potentially costing them some good tax deductions.
Around 20% of them are straight out incorrect, some of them using strategies which may contravene the spirit of the tax act or in other ways be a potential issue going forward.
When you buy any kind of property, be it for investment or as a principle place of residence (PPOR), you should be thinking with an holistic view – and considering what you may be wishing to achieve financially over many years, rather than just what you need at that moment in time. 
You should have a forward plan and know what level of financial independence you wish to achieve and over what time, as well as many other things such as your risk profile and current and future cash flow needs.
Then you must consult with a professional who can also assist you from a property investment advice perspective as well as getting you the loans you need – and to do this they must have some kind of qualification such as the Qualified Property Investment Advising qualification offered through <a href="https://www.pipa.asn.au">www.pipa.asn.au</a>.
Before you use the $195,000 which will remain in offset after your renovations to invest, you should first clear away all and any personal debt.  This is because such debt is non- deductible, and to use cash as a deposit for a deductible investment while you still have non- deductible debt can be a mistake. 
Then you need to be very sure that you plan to remain in your current PPOR for the duration – if you think there may be any chance that the future may bring a  desire to upgrade into a larger and more expensive home of your own, you will want to preserve your cash to use for that time. 
If you use up your available cash on an investment or two, while you can draw this back to use to buy a bigger home of your own, doing so would create a non- deductible, or personal debt which carries no deductibility.
If this all sounds confusing, this is because it is!  And so you need good guidance which considers a holistic approach to your entire financial future, not just this current home, or the immediate few properties you are ready to buy.  
Regards,
Maragret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
Please not that due to the number of requests, Margaret may not be able to answer every question.
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mlomas-KC9MUPZ6Ca

Ask Margaret: Should I invest or keep in offset account?

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Over the second half of 2014 capital city home sales fell, with the decline in-line with a softening in growth in home values. Interest rate cuts in 2015 may result in a rebound in sales activity this year.
Based on CoreLogic RP Data’s estimates of residential sales transactions to December 2014, there were 471,932 dwelling sales nationally. Despite the growing trend to more units being constructed, house sales still account for the overwhelming majority of sales. 
Over the year there were 339,902 house sales (72% of all sales) and 132,030 unit sales. Based on these figures, house sales were 0.2% higher over the year unit sales were -6.4% lower. Keep in mind that although we attempt to estimate for off the plan unit sales, they are likely to be revised higher as they settle. The settlement period for off the plan unit sales can take more than 12 months as the project is constructed. Off the plan sales ultimately get recognised at their contract date upon settlement.
 
Rolling annual dwelling sales, Nationally
<img src="/images/2015/03/23/rp-mar-23-one.jpg" alt=""> 
 
If we take a look at the capital city housing markets we see similar trends. Over the 12 months to December 2014, there were 218,479 house sales and 99,707 unit sales.
Compared to annual sales in 2013, combined capital city house sales were 2.8% higher while units were -7.0% lower resulting in a -0.5% overall fall in capital city sales.While at a national level house sales accounted for 72% of all sales, across the capital cities they accounted for a lower 68.7%. Again, we may see the number of unit sales revise higher as off the plan settlements take place.
 
Rolling annual dwelling sales, Combined capitals
 
<img src="/images/2015/03/23/rp-mar-23-two.jpg" alt="">
The trend both at a national and combined capital city level was that the number of sales fell away over the second half of 2014. The same trend was noted in terms of home value growth. After the annual rate of capital city home value growth peaked at 11.5% in April 2014, the rate of growth slowed to 7.9% annual growth by the end of 2014. Value growth has re-inflated over the first two months of 2015 and the recent interest rate cut may also contribute to faster growth, this is also likely to result in a rebound in sales transactions.
Across the individual capital cities, the number of house sales was higher in 2014 than in 2013 across most cities. The exceptions were the markets where value growth has slowed most markedly in 2014; Perth (-9.4%), Darwin (-4.8%) and Canberra (-2.7%).
Elsewhere, house sales have increased by 3.4% in Sydney, 5.1% in Melbourne, 8.9% in Brisbane, 6.9% in Adelaide and 8.0% in Hobart. Although house sales were generally higher in 2014 than in 2013, most cities have seen an easing in transactions over the second half of 2014 with Melbourne and Hobart the only cities where sales volumes have continued to trend higher.
 
Rolling annual house sales, major capitals
 <img src="/images/2015/03/23/rp-mar-23-three.jpg" alt="">
Turning to the unit market where across the combined capital cities the number of sales has actually fallen over the past year. Across the individual cities, only Melbourne (1.0%), Adelaide (5.7%) and Darwin (24.2%) recorded an increase in transactions over the year. Elsewhere, unit sales fell -13.8% in Sydney, -2.6% in Brisbane, -16.1% in Perth, -1.0% in Hobart and -14.5% in Canberra. 
 
Rolling annual unit sales, major capitals
 <img src="/images/2015/03/23/rp-mar-23-four.jpg" alt="">
It is also interesting to look at the proportion of house sales across each city. It shows that units are much more prevalent across the east coast capital cities as well as Darwin and Canberra. Over the year, the proportion of total sales that were houses across the capitals were recorded at: 60.8% in Sydney, 68.9% in Melbourne, 70.3% in Brisbane, 75.9% in Adelaide, 82.6% in Perth, 77.1% in Hobart, 62.1% in Darwin and 59.9% in Canberra.
The sales volume data also reveals that despite ongoing strong rates of population growth and buoyant housing market conditions over recent years, the number of dwelling sales has not risen by a commensurate amount, with the number of sales well below what was recorded over previous growth periods. 
Across the individual capital cities, the peak in annual sales were recorded at: April 2002 in Sydney (136,925), December 2007 in Melbourne (105,264), September 2003 in Brisbane (74,941), January 2008 in Adelaide, May 2006 in Perth (56,850), October 2003 in Hobart (7,425), July 2006 in Darwin (4,469) and June 1992 in Canberra (13,655).
Across all cities, the number of home sales over the past year has been significantly lower than these peaks. This suggests that for one reason or another, despite a higher population, a smaller proportion of people are buying and selling homes.
The high entry and exit costs of homes in Australia are likely the major reason, the two biggest costs are stamp duty and agent commissions both of which are higher as home values increase as they are levied off the purchase (stamp duty) and sales (commission) prices. Other factors might include less participation from first home buyers and the high rate of savings where more households are focussing on debt reduction.
 
Annual house and unit sales, year to December 2014
 
<img src="/images/2015/03/23/rp-mar-23-five.jpg" alt="">
Sales volumes eased over the second half of 2014 in-line with a slowing of home value growth. With mortgage rates moving lower in February 2015 and expected to reduce further during 2015, there may also be a rebound in sales activity. Despite a potential rebound, transaction volumes are likely to remain below historic peaks.
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