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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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>
GUEST OBSERVATION
The Australian Tax Office (ATO) says it continues to see a number of taxpayers understating rental income and over-claiming rental deductions.
With the surge in real estate sales, especially residential real estate, and an emphasis on investment properties, the ATO has not surprisingly taken a close interest in the <a href="https://www.smartcompany.com.au/finance/tax/43478-ato-targets-work-expenses-rental-properties-and-more" target="_blank">expense claims people make concerning their rental properties</a>.
Rental properties have been on the ATO radar, it seems, forever. The issues haven't greatly changed, but it seems taxpayers are still getting it wrong. Quite why this is the case is something of a mystery.
The ATO is now sending what it says are "re-designed" letters to taxpayers regarding reviews of rental, legal and/or borrowing expense claims. In those letters, the ATO says it will provide information on specific expense claims it is reviewing. It says the letters identify:
<ul>
<li>the relevant tax return label where the expense is claimed and the amounts in question; 
</li>
<li>the proposed ATO adjustments; 
</li>
<li>what to do if there is a disagreement about what has been claimed; and 
</li>
<li>where to find relevant information on the ATO website.</li>
</ul>
The ATO says it has also refined its case selection processes to minimise the likelihood of incorrectly selecting commercial properties.
Common errors with rental expense claims
Some of the common errors the ATO has identified include claiming as a legal and/or borrowing expense:
<ul>
<li>stamp duty on the transfer of property; 
</li>
<li>legal fees in relation to family divorce proceedings; 
</li>
<li>borrowing expenses in a single year, instead of being spread over five years as the law requires. The five years runs from the date of the borrowing; 
</li>
<li>borrowing expenses for personal loan protection insurance for injury, illness and loss of income; 
</li>
<li>interest expenses incorrectly claimed at the borrowing expense label on the tax return; 
</li>
<li>renovation costs as repairs and maintenance instead of being attributed to the capital cost of the property. This area causes confusion for many in determining for a start what is a repair versus what is a renovation. Structural improvements are unlikely to repairs e.g. remodelling a bathroom or kitchen; 
</li>
<li>solicitors fees for purchase of the property; and 
</li>
<li>some expenses as legal instead of sundry expenses. For example, fire levy expenses and lease fees.</li>
</ul>
The ATO says it continues to see a number of taxpayers understating rental income and over-claiming rental deductions. The ATO says it will be expanding its focus to investigate issues such as the incorrect:
<ul>
<li>apportionment of income and expenses based on ownership holdings; 
</li>
<li>claiming of expenses for vacant land; 
</li>
<li>apportionment of expenses for holiday homes. This may be done on the basis of the actual number of days the property is let at a commercial rent, although this will depend on the particular circumstances; 
</li>
<li>claiming of interest expenses for private borrowings.</li>
</ul>
It's also important to remember that expenses incurred in respect of an empty rental property will only be deductible if the property is available for rent and there are active and bona fide attempts to let the property. This means that expenses incurred will not be deductible for any period during which the property owner does not actively seek to find a tenant. This is a common issue.
There are many rental property expenses that are tax deductible e.g. council and water rates, building insurance premiums, real estate agent management fees, advertising costs, travel costs to inspect the property, etc.  However, as the Tax Office has clearly found, there are a number of areas where mistakes are being made. Rental property owners should take note of these.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/" target="_blank">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
Thomson Reuters <a href="https://www.propertyobserver.com.au/https://www.thomsonreuters.com.au/the-australian-tax-handbook-tax-return-edition-2014/productdetail/121906" target="_blank">Australian Tax Handbook 2014 – Tax Return Edition</a> provides information on claiming all kinds of tax deductions, including the rules relating to claiming rental properties and work-related expenses.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
 
</body></html>

thayes-XhNcNKLNWa

Rental property owners in ATO's sights: What you can and can't claim

<html><body>
GUEST OBSERVATION
The capital gains tax laws are voluminous and complicated. But they also contain benefits for taxpayers.
Legislation introduced in federal Parliament last week – the Tax and Superannuation Laws Amendment (2014 Measures No 7) Bill 2014 – will amend the tax law to ensure that CGT exemption is available in respect of compensation or damages received by:
<ul>
<li>a trustee (other than a trustee of a complying super fund) for a wrong or injury a beneficiary suffers in their occupation, or a wrong, injury or illness a beneficiary or their relative suffers personally - and a beneficiary that subsequently receives a distribution that is attributable to such compensation or damages from the trustee; 
</li>
<li>a taxpayer for a policy of insurance on the life of an individual or an annuity instrument if the taxpayer is the original owner of the policy or instrument; and 
</li>
<li>a trustee of a complying super fund for a policy of insurance for an individual's illness or injury.</li>
</ul>
The government said it was intended that trustees or beneficiaries who receive compensation or damages in respect of certain events (such as an injury an individual suffers at work) or in respect of certain policies of insurance (such as illness, injury or death) not be subject to CGT.
However, the express wording of the relevant provisions in the tax law had created uncertainty about this treatment. It was also intended that insurance policies held by complying superannuation funds for injuries and illnesses suffered by an individual not be subject to CGT. So the legislation now introduced seeks to implement those original intentions.
Under the proposed changes, a capital gain or loss made by a trustee in relation to compensation or damages for any wrong or injury a beneficiary of the trust suffers in their occupation, or any wrong, injury or illness a beneficiary of the trust or their relative suffers personally, will be disregarded. Further, a capital gain or loss made by a beneficiary will also be disregarded if the trustee of a trust then distributes money, property or other CGT assets to the beneficiary attributable to the compensation or damages received by the trustee.
Take the following example.
Robert is the beneficiary of ABC trust, which was established after Robert fell off a roof whilst working for Roofing Inc and suffered serious injuries. Patrick, as trustee of ABC trust, seeks compensation on behalf of Robert from Roofing Inc's insurance company, and receives compensation for the accident.
Under the proposed law, the capital gain made by Patrick in relation to the compensation received will be disregarded.
Assume Robert recovers from his injuries, but requires substantial further medical and other support. Patrick, as trustee of ABC trust, distributes the compensation to Robert to assist in paying his hospital bills. Any capital gain made by Robert in relation to the compensation received will be disregarded.
The bill also proposes that a capital gain or capital loss made from a CGT event happening to an interest in a policy of insurance on the life of an individual or an annuity instrument is disregarded by the original owner of the policy or instrument.
Another example will help explain this.
Fred holds a life insurance policy from an insurance company. Fred passes away and his wife Jane, as executor of his estate, receives $200,000 from the insurance company in respect of the policy. Jane, as executor of Fred's estate pays $50,000 to Alice, a beneficiary of Fred's estate. The payment to Alice is attributable to the amount received by Fred's estate in respect of the life insurance policy.
Any capital gain made by Alice, as a beneficiary of Fred's estate, will be disregarded.
The amendments will apply retrospectively in relation to CGT events happening in the 2005-06 and later income years i.e. generally from 1 July 2005. Accordingly, the tax law has also been amended to ensure that taxpayers are given sufficient time to seek an amendment to previous assessments (as the amendment period will otherwise have expired in some cases), if required in these circumstances.
The government says the amendments are consistent with the administrative practice of the Commissioner of Taxation and ensure that taxpayers that could have benefited by relying on the Commissioner’s administrative practice are not disadvantaged by the changes.
The bill will not be debated until after Parliament resumes in February 2015, but the changes are welcome.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/" target="_blank">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
Thomson Reuters <a href="https://www.propertyobserver.com.au/https://www.thomsonreuters.com.au/the-australian-tax-handbook-tax-return-edition-2014/productdetail/121906" target="_blank">Australian Tax Handbook 2014 – Tax Return Edition</a> provides information on claiming all kinds of tax deductions, including the rules relating to claiming rental properties and work-related expenses.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

How CGT changes to exemptions on compensation or damages could benefit taxpayers 

<html><body>
GUEST OBSERVATION
Brisbane tenants and unit owners need to brush up on body corporate rules in the wake of recent storms to avoid being stung with insurance nightmares.
With experts predicting an increase in severe storms this summer, I’m urging all Brisbane unit owners to prepare now. Residents in units and apartments in particular have unique considerations to bear in mind around storm preparedness and insurance claims.
Residents need to think about how the storm’s effect on the body corporate will impact their property, and vice versa for how their actions can affect the body corporate. For example, the placement of a drain in a common area could potentially be a flood hazard to ground floor properties if there is an excessive amount of rain.
Owners should be aware of this type of issue and have an action plan in place to mitigate potential flood damage which could include having a barrier ready to roll out and a plan to move any valuables.
On the flip side, unit owners and tenants need to prepare their property not only to ensure their own safety but also the safety of the building as a whole.
This includes securing balcony furniture and ensuring the property complies with the building’s by-laws. If a unit does not comply it can create unnecessary dangers for the property and the building as a whole.
Navigating the insurance process can be tricky for those in units and apartments. It depends on your scheme’s insurance but most policies will cover the structure of the building including internal fixed cupboards, but will normally exclude cover for carpets and of course your personal belongings.
Some policies may also exclude flood cover unless the body corporate chooses to include it, so be sure to check the policy document of your scheme’s insurance to know what’s covered and what’s not.
Here are some tips for you to consider:
<ul>
<li>Prepare your property – secure items on your balcony and ensure your unit complies with the building’s by-laws. If you’re unsure, contact your body corporate. 
</li>
<li>Prepare common areas – clear away any rubbish and ensure all loose items are secured. This includes outdoor furniture, pot plants and plastic pool furniture which can be placed in the pool to avoid it blowing away. 
</li>
<li>Check your insurance policy – be aware that the building’s strata insurance does not cover your belongings in your unit so you will need to have up-to-date contents insurance. 
</li>
<li>Familiarise yourself with your building’s evacuation plan just in case you need to evacuate and ensure you consider pets if necessary. </li>
<li>Communicate with your body corporate about your property’s damage and any damage you notice on common property as soon as possible.</li>
</ul>
Grant Mifsud has more than 12 years’ experience in the strata industry and has been a senior body corporate manager at<a href="https://www.abcm.com.au" target="_blank"> Archers Body Corporate Management</a> since 2007. 
Currently Grant manages a portfolio of clients in the Brisbane region with a focus on providing financial and strata legislation advice. Grant is a practitioner member of Strata Community Australia (SCA).
</body></html>

GrantMifsud-hZGcbKY2ir

Recent storms show why it pays to brush up on body corporate laws

<html><body>
Building a secondary dwelling, either on a principal place of residence or out the back of a rental property, for tenants to live in has long been an accepted way of increasing rental yield on applicable homes.
With double the income from one block, the $80,000 to $120,000 outlay to build a granny flat has been undertaken in many areas, in particularly Western Sydney.
However, the Tenants’ Union of Tasmania’s solicitor, Peter Foster, is warning Tasmanian tenants about some of the difficulties.
The main issue remains around the subject of electricity or power connection. Even if the landlords live in the main house, or it is holding tenants itself, it’s advised to have separate meters.
Not only will this make life easier in terms of bills, however not keeping this separate may actually be unlawful under the Act, explains Foster in the latest TUTas advisory email.
“Some owners will insert clauses into leases that seem like a fair compromise. For example, that each household pays half of the power bill. But is going halves just when only two tenants live in the flat while the owner, her husband and three children reside in the adjacent house? It would be reasonable to assume the owner and her family will be consuming more electricity,” writes Foster.
He suggests that there may also be some arrangements where there’s a “per head pay share” where each tenant pays for a divided portion of the bill per person. However, lifestyle imbalances can affect the bills and still have some paying more than they should.
When assessing ‘fairness’, clearly there are many difficulties. The Act is even clearer. Foster explains that the landlord is only able to charge for rent, damage and usage costs of a water bill under the agreement, but that all other charges cannot be collected by the landlord or agent. This would include electricity bills.
The solution may be to have a meter installed at the granny flat. While ne notes that owners have no legal obligation to install the meter it certainly seems the most recommended option.
How have you tackled this issue with your tenants?
</body></html>

jduke-EHk3XBmHkn

Landlords warned against sharing utilities between main house and granny flat

<html><body>
Mortgage stress is one of those difficult situations that no one wants to face. For new buyers, and even experienced property owners, the thought of being in a scramble to afford your repayments understandably evokes a significant amount of fear.
If you are facing mortgage stress, the harbinger of a potential foreclosure, there are certain things you can do to manage the situation.
Smartline Personal Mortgage Advisers’ executive director Joe Sirianni suggests that, clearly, the first thing to bear in mind is how to reduce the possibility of ending up experiencing mortgage stress in the first place.
Anecdotal experience leads Sirianni to believe that those in financial stress have held onto their asset for too long as the stress starts to build.   “Eventually their debt repayments put them in a position where they go very close to bankruptcy and, in hindsight, will express their wish that they’d sold their home sooner in order to get rid of their debt earlier and give themselves time to get back on track,” he said.   “That’s not to say that making the decision to sell your home in order to clear debt isn’t a stressful and deeply emotional choice to make. Rather, leaving the decision-making process for too long can make an already stressful situation even more difficult – it’s best to talk about the situation and discuss options right from the beginning.”
So, firstly, if you think mortgage stress is going to become a possibility or you’re starting to feel the pinch then consider to yourself whether selling early is the best option for you.
Similarly, if you can predict what the worst case scenarios may be then you are often better placed to handle them should they arise.
Redundancy, illness or injury can be possible outcomes for every individual and it is worth putting in place insurances ahead of time to mitigate these risks.
Personal insurance products, such as income protection insurance, trauma insurance and possibly life insurance can be worthwhile considerations.
If this is something you haven’t managed to do – be upfront with your lender and tell them quickly what the problem is.
“It’s always best to be upfront with your lending institution to let them know about your situation – particularly if you predict that you’ll experience financial difficulties in the near future if you don’t secure another income,” Sirianni advises.
For lenders, it’s in their interest to assist you during these times. You may find that a lender can assist by helping you change your loan to interest only for a period until you find another job, or give you a “repayment holiday” until you’re on your feet.
While you do have an obligation to repay your loan, lenders are not out to work against you and there’s often a solution you can work with them towards.
“Not only are many people surprised by how readily lenders will work with them, they find that any misconceptions around how they might manage the debt on their own are incorrect,” he suggests. This may include borrowers who believe they can use the equity in their home to assist during tough times – without realising that they need an income to have lending approved to pull out these funds.
Other situations that are seen by Sirianni as causing mortgage stress can include credit card and personal loan debt.
Now is the time to stop accruing more debt. Cut up your cards, speak to your lender and look to put yourself on a repayment plan, he suggests.
“If you find yourself in a distressing financial position as a result of an unforeseeable event that, in turn, sees you falling behind on your mortgage repayments and incurring significant credit card debt as a result, there are options available – highlighting the need to get on top of out-of-control debt from the very beginning,” he said.
In summary:
<ul>
<li>Consider selling earlier rather than later 
</li>
<li>Attempt to predict your difficulties ahead of time and prepare with insurances 
</li>
<li>Speak to your lender quickly 
</li>
<li>Cut up your credit cards, and put yourself on repayment plans</li>
</ul>
Here are some <a href="/expert-insights/finance/what-to-do-if-you-are-in-mortgage-stress">more suggestions from the Consumer Credit Legal Centre (NSW)</a>.
ALSO READ: <a href="/expert-insights/finance/what-is-negative-equity-and-what-can-you-do-about-it">What is negative equity and what can you do about it </a>
</body></html>

How to: Manage mortgage stress

<html><body>
Housing price growth had slowed a little, the December minutes of the Reserve Bank of Australia noted.
But there continued to be considerable regional variation, with housing price growth strongest in Sydney.
"Members noted that credit to owner-occupiers was growing at a pace only a little above that of income, but that growth in credit to investors was considerably higher," the minutes said.
"The available data suggested that dwelling investment was likely to subtract a little from growth in the September quarter.
"However, building approvals and other forward-looking indicators of residential building activity continued to suggest that dwelling investment would contribute to growth in coming quarters. 
"Aggregate housing price growth had slowed a little."
The RBA board members noted that the strength in the housing market and data on retail sales, for example, indicated that household consumption growth was likely to have picked up a little from the pace recorded in recent quarters.
However, they recognised that the labour market had remained subdued and that this was restraining growth in labour income.
The unemployment rate had risen over the past six months, employment growth had been somewhat below the pace of population growth and wage growth had remained low in the September quarter.
The members also noted that conditions in the Australian residential mortgage-backed securities market were strong at present, with high levels of issuance and relatively tight pricing. 
"Competition in the deposit market had continued to ease and interest rates on certain savings accounts had declined noticeably over the past year or so. 
"Lending rates on the stock of outstanding housing and business loans remained at historically low levels," the minutes advised.
</body></html>

jchancellor-FAypfDUnLy

RBA notes considerable regional price growth variation

<html><body>
A trusted Melbourne lawyer who swindled clients out of more than $12 million received a 12-year jail sentence for his crimes last week.
The Supreme Court of Victoria heard Philip Linacre operated a 12-year-long <a href="https://www.smartcompany.com.au/legal/19226-how-graham-hoy-created-australia-s-worst-ponzi-scheme-and-got-13-years-jail">Ponzi scheme</a>, a fraudulent investment where returns are paid to investors are paid by new investors, rather than from profit earned from the investment itself.
Linacre told clients, including his own family and friends, their investments would be given to a third party as a mortgage loan, promising them between returns of 12% and 24% on the investments. He was instead using their money to pay out the interest on other clients' investments.
Linacre, who said he started the scheme because of his own bad financial position, operated the arrangement from 2000 until 2012, when he turned himself in to police. He pleaded guilty to 21 counts of dishonesty and five counts of having a deficiency in a trust account.
Chief Justice Warren called Linacre’s actions “calculated and complex” and said many of the victims were already in difficult financial circumstances when Linacre convinced them to invest.
“You have committed a number of serious offences in the trusted position of a lawyer,” said Warren in her ruling.
“Importantly, these victims came to you in their time of need. Many sought information about investing their life savings, superannuation or inheritance. They placed complete trust in you. You did not only steal money from your victims, you robbed them of their future.”
Warren also found many of Linacre’s victims suffered ill health because of his criminality.
Linacre will serve a minimum of eight years’ jail.
Brett Warfield chief executive of forensic accounting firm Warfield &amp; Associates, said Ponzi schemes have been around for a long time and there were two major red flags for investors to watch out for.
“The first, and most glaring, is the rate of return you are promised,” says Warfield.
“As soon as you are promised above the market rate, so in this instance the mortgage lending rate, when you get someone offering double, triple or four times that, straight away that should be a sign.”
Warfield says the greater the return on investment, the greater the risk for investors.
“The other thing with Ponzi schemes is asking questions about the actual investment,” he says. “Asking what type of information will be provided about my investments?”
Warfield says investors should expect detailed reports and correspondences on their investment, such as what one might expect from superannuation funds. He says although some people may feel uncomfortable asking for this information, investors have to be proactive to protect themselves.
“You have to be in charge of your money,” he says. “The good thing is vulnerable people who would have invested may see and may think twice.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

krobb-aCrRNnPq6D

Melbourne lawyer jailed for 12 years over “calculated and complex” Ponzi mortgage scheme

<html><body>
With more borrowers than ever before in this latest low rate cycle opting for fixed rates, Finder.com.au’s Michelle Hutchison is suggesting that borrowers may want to seriously consider fixing their home loan.
At present, borrowers fixing their loans through the Finder website are at 36%, the highest level in the past three years – since the beginning of the falls of the cash rate in November 2011.
At the start of 2014, 25% of borrowers were fixing, compared to November 2011 when just 11% were looking to fix.
Hutchison said that, despite some experts predicting a cut before the rates start to increase, the rise in fixed rate popularity may be the abundance of experts predicting rates to climb. In their survey, seven of 37 experts predict a rate drop next year.
“Despite this, they are still expecting rates to eventually rise, so borrowers who have overstretched themselves or concerned should consider locking in a fixed rate home loan,” she said.
“This year, we've seen average variable home loan rates fall by 0.24 percentage points – from 5.46% in January to 5.22% now. The difference in monthly repayments for a $300,000 loan size over 30 years is $45 less per month.
“We've also seen fixed rates also take a dive, with the average three-year fixed rate falling by 0.19 percentage points from 5.17% to 4.98% now. If you fixed a $300,000 home loan in January you would be paying $35 more per month than if you fixed now.”
The lowest variable rate available is with Heritage Bank, at 4.39%, with three year fixed rates starting at 4.59% - with ME Bank and Greater Building Society offering this rate.
“Lenders have continued to cut home loan rates this year because their funding costs have fallen and they have passed on the savings to borrowers, they also have room to move as they haven't passed on all of the cash rate cuts since rates began to fall in November 2011,” she said.
“Fixed loans are usually a barometer for the direction of interest rate movements and with fixed rates still falling, it could be a sign that another cash rate cut could happen next year.”
Just one lender has dropped their variable home loan rate this month, but some more may be seen, she suggested.
“Despite this, interest rates are likely to eventually start rising so it's a great time to lock in a fixed rate if you're concerned about rising rates. Or borrowers could hedge their bets and split their loan so a portion is with a variable rate and a portion is fixed,” Hutchison said.
</body></html>

Good time to lock in a fixed rate: Finder

<html><body>
The Reserve Bank has stated on more than one occasion that mortgage repayments are on average some 15% ahead of schedule, the equivalent of some two years worth of monthly payments. If this is true then despite endless talk of stretched household budgets, then we should actually see mortgage arrears declining to levels not seen in years.
The latest Fitch Ratings Dinkum Index, which records 30 and 90 day mortgage arrears, showed that arrears have declined to seven year lows (30 day) and fiveyear lows (90 day) respectively.
From <a href="https://www.bankingday.com/nl06_news_selected.php?act=2&amp;nav=13&amp;selkey=17947" target="_blank">Banking Day</a>:
"The strong housing market is suppressing home loan arrears. 
"Fitch Ratings, in its latest Dinkum Index analysing the September 2014 quarter, put loans 30 days or more past due at their lowest level since late 2007. 
"Fitch said delinquencies dropped by 14 basis point to 1.08%.
"Serious arrears also benefited, with loans 90 days or more in arrears sitting at 0.47%, the lowest level since December 2009.
"Arrears are expected to remain largely stable in fourth quarter 2014, Fitch said, due to low, stable interest rates, a strong housing market and lending, and relatively low (albeit rising) levels of unemployment."
Great to hear. While other developed countries have seen serious 90+ day arrears on up to 10 to 15 or more in every 200 mortgages in the period following the financial crisis, the equivalent figure for Australia is incredibly now below 1, which is wonderful news. The reasons are clear enough, being a combination of very low interest rates and the unique structuring of so many loans in Australia which <a href="https://petewargent.blogspot.co.uk/2014/04/stress" target="_blank">maintain repayments at the same level</a> when interest rates fall, thus allowing borrowers to build up sizeable repayment buffers when variable mortgage rates have been declining over a period of years.
This mirrors what has been <a href="https://petewargent.blogspot.co.uk/2014/11/genworth-q3" target="_blank">reported by Genworth (ASX: GMA) in Q3</a>, that delinquency rates have been cascading lower by book year since FY2008.
<img src="https://4.bp.blogspot.com/-iMv-Wc5yns0/VGaYJx9iI_I/AAAAAAAAROg/lbdTaLoqO7w/s640/GMA1.jpg">
That's great to see, with foreclosures in Australia now considered to be "<a href="https://petewargent.blogspot.co.uk/2014/04/stress" target="_blank">vanishingly rare</a>".
Arrears to Rise from Exceptionally Low Levels? 
One would think almost certainly, yes. There is realistically only one direction in which mortgage arrears can head over the medium term from such a pleasingly low base. Relatively low interest rates are more or less a 'shoo-in' for most of the remainder of this decade, but the other major factor which can cause mortgage arrears - unemployment - is rising in eminence across many regions of Australia.
<img src="https://1.bp.blogspot.com/-rebYUuOgS_E/VI3XQNQk8UI/AAAAAAAAR5g/9PSOV1YkK7Q/s1600/b2.jpg">
Where are the Risk Areas?
We will take an updated look at the latest unemployment rates by region data on Thursday of this week, but here are a few of the regions where unemployment rates have increased concerningly.
<img src="https://2.bp.blogspot.com/-E86GaqEpdTw/VI2Xh26I1-I/AAAAAAAAR4w/WXLYkm7KToU/s1600/LOGAN.jpg">
<a href="https://petewargent.blogspot.co.uk/2014/11/abc-cuts-10-percent-of-staff-and-sa" target="_blank">Recent reports have also highlighted</a> the elevated risk of credit default in a number of Queensland regions as the unemployment rate rises.
We'd add to this list of potential risk areas parts of South Australia where a weak labour market and consumer confidence have contributed to 5 year declines in median house prices in a number of outer suburbs such as Davoren Park, Elizabeth North,  Elizabeth East, Craigmore, and so on.
Fair Warning - Industry Closure Risk
Some on the chat forums have chosen to highlight that withdrawal of Holden may only directly result in a relatively small number of jobs and they have therefore dismissed the risk as insignificant.
That's one way to look at it, but a market is made up by the full range of views, and in this case we'll take the sell side of the equation.
As pointed out here previously, when one considers the total number of jobs which are likely to be lost from the shuttering of the car manufacture industry over the next few years - including from suppliers and support industries - in concert with flow-through impacts of rescinded business investment, consumer spending and so on - the potential impact on economic output of some $29 billion and up to 200,000 jobs nationwide could be <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-04-14/study-warns-carmakers-exit-could-see-200000-jobs-lost/5389682" target="_blank">prodigious</a>.
It's easy to dismiss the closure of the Holden plant as overblown, and to state that those who do lose their jobs can be redeployed.
Indeed so, but whether or not they can be redeployed within South Australia is another matter entirely.
If the forecast 24,000 jobs are lost in the state, note that the economy has taken fully seven years to add 24,000 jobs, and has added a net total of zero over the last four.
<img src="https://2.bp.blogspot.com/-qF47FgelF4g/VI3jrxoShBI/AAAAAAAAR5w/ceSC1asejvE/s1600/SOuth%2BAustralia.jpg">
A similar point stands for Geelong (and I own property in Geelong, so this is not merely the viewpoint of vested interest).
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Positive Investment Decisions
Buying a home to live in is one thing, of course, but the primary advantage that a property investor has is that they are not compelled to buy property anywhere or at any time, so the shuttering of an entire industry should act as an automatic red flag.
"It might not be that bad" is not a compelling case for an investment decision.
Anyway, that's our view - that you should look for thriving economies, not those about to be sideswiped by a king-hit - so fair warning.
We'll provide an updated report on trends in elevated unemployment rates by region on Thursday of this week, so stay tuned for that.
In the meantime if there is one phrase to look out for which should always make property investors wince it is that "prices can't fall further in this region", which is another alarm bell which has so often foreshadowed financial loss.
MYEFO Impacts - The "Shock Absorber"
In the forthcoming MYEFO Treasurer Hockey will announce that the budget will be used as a "shock absorber" to shield the downside to the Australian economy from its declining terms of trade, driven by falls in key commodity prices, in particular that of iron ore.
<img src="https://3.bp.blogspot.com/-cXcsJ4JwoNs/VI3Ln628PBI/AAAAAAAAR5M/VdpOpY9Q8U8/s1600/IO%2Bprice.jpg">
What will this "shock absorber" mean? We will have to wait for the details, but one might expect to hear announcements concerning the following:
<ul>
<li>heavy government expenditure of infrastructure projects; and </li>
<li>thousands of jobs to be cut from the merger of closure of scores of government agencies, particularly in Canberra.</li>
</ul>
Potentially thousands of job cuts does not bode at all well for Canberra or the ACT housing markets in 2015, with rents already declining and now dwelling prices looking set to follow suit. Pass.
"Busting Labour Market Myths" 
Our chart packs have consistently revealed a worrying trend in Australia in recent years, that with the honourable exception of Queensland, <a href="https://petewargent.blogspot.co.uk/2014/10/city-versus-country-widening-jobs-gulf" target="_blank">regional Australia is not creating jobs</a> in aggregate and unemployment is therefore rising worryingly in many regional centres and net population growth must in turn slow.
One of Australia's leading economic journalists Peter Martin takes aim at another of the great labour market myths in his piece 'Busting Labour Market Myths' in <a href="https://www.theage.com.au/federal-politics/political-opinion/busting-labour-market-myths-why-your-job-is-far-more-secure-than-you-think-20141213-125ggs" target="_blank">The Age</a>: "Of course we'll tell our children that they'll be doing more telework – working from home, cafes, etc. 
"Everyone knows that's true. The last government said it enough while spruiking the NBN. 
"It isn't true - at least not so far.
"Only 5% of us describe home as our main place of work, and nearly all of them are self-employed. 
 "Only around 1.5% of workers for employers describe home as their main place of work, and if anything the proportion has slipped in the past decade.
 "All up, the labour market is changing (fewer of us are employed in manufacturing for instance) but it isn't changing in many of the ways that we think.".
Quite so.
Working from Home has Declined
The short report which Peter Martin is referencing here is the enlightening <a href="https://onlinelibrary.wiley.com/enhanced/doi/10.1111/1467-8462.12085/" target="_blank">Two Decades of Change</a> document, which is well worth a read.
The report reveals some interesting trends, highlighting for example how the southern states have fallen way behind in terms of their economies and labour market growth, with employment growth in Tasmania and now South Australia in particular having tanked and unemployment now rising, trends which have been highlighted here previously.
<img src="https://1.bp.blogspot.com/-hbgxMa94YRQ/VI2aCWTYmkI/AAAAAAAAR48/X1J9YlRNRzw/s1600/sa.jpg">
The Working from Home 'Phenomenon'? On the working from home phenomenon, the Two Decades of Change report is quite conclusive:
"Yet another often-heard claim is that, facilitated by changes and advances in information and communication technology, work is increasingly being undertaken away from conventional workplaces, and more specifically in the homes of workers. 
"However, the available survey evidence provides little support for such a claim. Analysis of data from the HILDA Survey by Wooden and Fok (<a href="https://onlinelibrary.wiley.com/enhanced/doi/10.1111/1467-8462.12085/#aere12085-bib-0022" title="Link to bibliographic citation">2013</a>), for example, shows:
"While taking work home is relatively common (with almost 23% of Australian workers reporting doing at least some paid work at home each week), for relatively few workers (just 5%) could home be described as their main location of work.
"The majority of this small group of home workers is self-employed—only a little over 1% of employees spend the majority of their work hours at home.
"If anything, the incidence of working at home fell over the course of the last decade.
"Such conclusions are broadly consistent with survey data periodically collected by the ABS as part of its Locations of Work Survey (ABS Cat. no. 6275.0). 
"Notably, the incidence of employed persons who report that their home is their main place of employment fell slightly between 2000 and 2008 (from 7.1% to 6.4%)."
This is indeed commensurate with what was concluded by the ABS Locations of Work survey as reported here previously.
In fact, the principal reason given by survey respondents for working from home was that they had become "snowed under" and fallen way behind on their workloads in the their main workplace.
All available <a href="https://petewargent.blogspot.co.uk/2014/07/x" target="_blank">studies</a> and <a href="https://petewargent.blogspot.co.uk/2014/05/rba-on-housing" target="_blank">reports</a> have shown that, quite apart from undertaking a sea-change and heading en masse for the regions, Australia's capital cities are in fact becoming increasingly centrally focused in terms of population growth, dwelling price growth, economic growth and employment growth.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
</body></html>

pwargent-M4siyDbqQY

Mortgage arrears decline to seven year lows... so where are the risks?

<html><body>
Reserve Bank (RBA) governor Glenn Stevens has “hosed down speculation” of a rate cut, according to an ANZ Research analysis of his latest media comments.
Stevens told The AFR that the problem with the economy is a lack of "animal spirits", rather than an issue with the price of money, and emphasized the importance of providing a steady and predictable monetary policy.
He pointed to the swinging expectation of economists and experts as to where rates would move to and when.
"We have had, a few times over the period of stability that we have already had, at various times some commentators saying they still think rates might go down a bit. That swung to “They will go up”. It swung around a few times," Stevens said.
ANZ Research’s latest bulletin notes that Stevens’ comments have reinforced their view that the "RBA clearly would prefer a substantially lower exchange rate to lower interest rates, and while it hasn’t closed off the possibility of a rate cut, at the moment it seems less than convinced that a lower cash rate would assist the recovery".
They pointed specifically to his comments that a cut in the cash rate “has to remain an open question” and that if the RBA believes it will assist confidence then it may be on the table for consideration in 2015.
Stevens noted that the position of the RBA is to foster confidence by giving people the sense that they can plan ahead. While he noted that not everything is predictable, their aim is to make it as stable as possible.
"If you think that confidence is the thing that is kind of the missing ingredient, then what can we do for confidence? The answer that I came up with is we could be steady and predictable and be clear about that. So that’s what we have sought to do," he said.
The main factor ANZ Research is watching will be the Australian dollar.
</body></html>

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News