The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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 general consensus is that the next movement we’ll see from the Reserve Bank of Australia will be an increase.
The main question is ‘when?’
Finder’s <a href="/expert-insights/finance/experts-predict-no-interest-rate-change-tomorrow-finder">regular monthly RBA survey saw all the experts surveyed in September opt for the rates on hold prediction</a>, which unsurprisingly turned out to be correct.
Interestingly, more than half of those surveyed predicted the increase would come in the second half of 2015.
Not in agreement with this general prediction is ANZ. In the Finder survey, Warren Hogan tipped an increase in the second quarter of 2015, as did three others.
Now ANZ have re-confirmed their opinion on a potential interest rate rise.
ANZ Research's David Croy noted that they are actually expecting three hikes from the RBA next year, in May, June and November.
Other forecasters are predicting that a rate rise may come even sooner.
Nicki Hutley of Urbis, predicted a rise as early as December this year.
“The Australian economy is still seeing growth a little below par," said Hutley. "Inflation is picking up but not yet alarmingly so... so the RBA won’t be in any hurry to move,” she said at the beginning of the month. However, she did note that the New Year is also an option for a rise.
10 of the 25 surveyed expected an increase in the first half of next year. This has been an opinion held for many months now, with <a href="/expert-insights/finance/no-july-rate-increase-look-to-next-year-instead-me-bank">ME Bank noting in June that rises are not expected until 2015</a>.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/finance/how-to-prepare-for-an-interest-rate-increase">How to: Prepare for an interest rate increase</a>
<a href="/expert-insights/finance/interest-rates-crash-course-whats-the-relationship-to-the-property-market">Interest rates crash course: What's the relationship to the property market?</a>
<a href="/expert-insights/finance/10-things-to-know-about-the-current-interest-rate">10 things to know about the current interest rate</a>
</body></html>

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More than one interest rate rise on the cards for 2015: ANZ

<html><body>
Lenders including NAB, Commonwealth Bank and St George Bank have all begun offering cash incentives to borrowers as the spring property market kicks into gear.
NAB is offering borrowers who apply for a new home loan with a principal and interest value of $300,000 of greater by 31 October a $1,000 eftpos card.
The lender has previously landed in hot water with the Australian Securities and Investments Commission (ASIC) after it released <a href="/expert-insights/finance/misleading-ads-cost-nab-40-800">potentially misleading advertisements</a> regarding a different eftpos offer.
ASIC fined NAB $40,800 over the UBank home loan ads, which promsed a $2,014 eftpos card but failed to disclose all the relevant eligibility details.
St George Bank is offering a $1,250 rebate for borrowers who apply for an Advantage Package home loan before 30 October and settle before 28 February 2015.
Other Westpac-owned banks are offering similar rebates. Borrowers who switch to the Bank of Melbourne or BankSA and take out an Advantage Package loan before 30 November will receive $1,250 to help cover their transfer costs.
The Commonwealth Bank also offers a rebate, though only to first home buyers. Those taking out their first home loan with the Commonwealth Bank before 29 November, with a minimum loan size of $100,000 and a minimum 10% deposit are eligible for a $1,000 cash rebate from the lender.
</body></html>

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Lenders offering cash to entice customers

<html><body>
It’s contentious: Should we keep negative gearing?
The Housing Industry Association has released research that said restricting access to negative gearing for investors buying residential property would reduce the amount of investment in housing, erode affordability and push rents higher.
HIA managing director Shane Goodwin said that discounting residential negative gearing in isolation is a retrograde step for tax reform in terms of efficiency and equity.
“New housing is one of the most highly taxed sectors in the economy, and the removal of negative gearing would only make that situation worse and discourage investment,” said Goodwin.
“This would in turn reduce housing supply and increase the cost of renting,” he said.
Goodwin says that negative gearing promotes private investment in the rental market, stimulating economic activity and taking pressure off social housing.
“With an aging workforce and future pressure on services, policy settings such as negative gearing that promote wealth creation and self-sufficiency in retirement should be promoted,” he said.
“It is important to remember that negative gearing is not the domain of so-called ‘wealthy investors’. Figures from the ATO demonstrate that 74% of tax payers receiving rental income have a taxable income of less than $80,000.”
The much debated topic has been<a href="/expert-insights/finance/room-for-debate-should-negative-gearing-be-abolished"> under discussion on Property Observer for years</a>.
There have been many suggestions of how it could be phased out, including grandfathering it out or just slowly toughening the rules. You can <a href="/expert-insights/finance/who-will-get-stung-by-negative-gearing-and-tax-changes">read some of those suggestions here</a>.
RESULTS:
<img 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" 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Restricting negative gearing would erode affordability, says HIA: Do you agree?

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A review of low documentation, or 'low doc', home loans by the Australian Securities and Investments Commission (ASIC) has discovered that lenders have tightened their policies around these mortgage products since 2010.
Before new responsible lending laws were introduced in 2010, borrowers did not always have their financial circumstances verified for a low doc loans, with lenders relying on statements from borrowers that they could meet the repayments.
ASIC notes that in some cases this led to borrowers being unable to repay the loans, or forced to sell their homes.
The review of 12 lenders found that since the introduction of the new laws, lenders had introduced more stringent requirements for low doc loans. New practices included obtaining additional information to verify income and introducing additional processes to ensure the reliability of information provided by brokers.
The Australian Prudential Regulation Authority has recorded a decline in the proportion of low doc loans of all new residential loan since the introduction of the regulations in 2010. Low doc loans now make up 0.7% of all new residential loans, down from 6.4% in 2010.
ASIC identified three compliance risks with low doc loans:
<ul>
<li>Poor-record keeping, including not recording the outcome of inquiries into borrowers’ requirements and objectives, and the relative priority of these objectives 
</li>
<li>Lenders relying solely on benchmark living expense figures rather than taking separate steps to inquire into borrowers’ actual living expenses 
</li>
<li>Lenders performing limited verification of borrowers’ ongoing fixed expenses for other loans they may have 
</li>
</ul>
Source: ASIC
Lenders reviewed have made changes to their practices in light of the compliance risks identified during ASIC’s review.
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Lenders tightening low doc loan requirements: ASIC

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Any move to scrap negative gearing would affect Australia’s “mum and dad” investors, according to research that shows 70% of those claiming the rebate earn less than $80,000.
With <a href="https://www.smartcompany.com.au/finance/42835-negative-gearing-could-be-putting-the-financial-system-at-risk-murray-inquiry" target="_blank">calls to scrap the tax</a> never far from public debate, the research shows the property tax break is not just for the wealthy, as often assumed.
<a href="https://www.smartcompany.com.au/finance/investment/34310-should-negative-gearing-be-scrapped-experts-weigh-in" target="_blank">Negative gearing</a> allows investors to claim full tax deductions for interest costs and other property expenses when the investment is less than the cost of owning and managing the investment.
Statistics from the Australian Tax Office, provided by the Property Council of Australia, show 883,325 of the 1.266 million taxpayers claiming benefits from negative gearing earned under $80,000 in 2011-12.
Job classifications from the ATO show the majority of those are teachers, nurses, clerical and emergency workers and salespeople.
Nick Proud, executive director of the Residential Development Council, told SmartCompany many would also be small business owners or sole traders, but it is difficult to determine given the ATO’s classification by industry.
The statistics also show 73% of the Australians accessing negative gearing only own one property and a further 18% own two.
“The majority of these people are not property barons,” says Proud.
“They are average mums and dads, people who don’t want to leave it up to the government to look after their retirement.”
Proud says these investors are providing homes for people not far below their own earning capacity.
He says any action to remove negative gearing from the tax books will result in a slowing up in the interest in rentals, with rental numbers declining and an upwards pressure placed on rents.
He also says investors claim around $16 billion in other rental deductions for property maintenance through their negative geared properties.
“That flow-through to economy would happen straight way and we would see a significant decline in jobs,” says Proud.
Proud also says there would be a significant effect on the demand on public housing, with Australian Bureau of Statistics data showing a huge reduction in building approvals for such accommodation in recent years.
Brian Chant, managing director of Property Asset Planning, agrees scrapping negative gearing would have a detrimental effect on rent prices, job creation and public housing demand.
He tells SmartCompany negative gearing legislation has been in place from 1996 for good reason.
“Negative gearing is a fantastic opportunity for everyone, in any wage or income bracket,” says Chant.
“People love getting into property and what easier way to reduce your income tax.”
But Taxpayers Australia’s head of taxation, Mark Chapman, tells SmartCompany it may not be worth those in lower income brackets getting into negative gearing investments.
“I wonder whether so many people in those lower income thresholds misunderstand the extent of tax brackets,” says Chapman.
He says often these lower income earners hear “wonderful things about negative gearing”, but they don’t necessarily fully understand paying tax at a lower rate also means earning at a lower rate.
“If people in those income brackets go into property investment because they want to be property investors and have commercial judgement fine, but if they look at it as a means of saving tax, ultimately they will be disappointed.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Who really claims negative gearing? ATO stats reveal it's not just a strategy for the wealthy

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Investors are missing out on thousands of dollars worth of tax deductions by failing to take advantage of depreciation benefits, according to CBRE.
The real estate services company last week launched a tax depreciation service aimed at Australian residential property investors.
“It’s astronomical the number of people who are unaware of the depreciation benefits that are available to them,” said CBRE Capital Allowances National Director Neale Scott who leads the division.
Owners of new properties could often claim 2 to 4% of the purchase price in depreciation in the first year of ownership, Scott said. On a newly constructed property purchased for $400,000, for example, the depreciation benefit could be between $8000 and $14,000 in the first year.
“It’s significant,” Scott said.
But many investors did not know they could claim such deductions by obtaining a tax depreciation schedule for the property.
“There is a lot of reliance on accountants to do this work but accountants are the ones who use the schedules; they don’t prepare them,” Scott said.
A number of other companies can prepare tax depreciation schedules for investors.
Scott said CBRE had a large residential valuation business and could use its existing infrastructure to offer a cost competitive service in preparing depreciation schedules.
The scale of its business meant it could prepare the reports in a shorter time frame than many of its competitors. It aims to deliver depreciation schedules to its clients within five to 10 days.
“For every [depreciation schedule] that we do, we fully inspect the property which is also a massive point of difference,” Scott said.
The service is available across all metropolitan areas.
CBRE launched its Capital Allowances business in Australia about 12 months ago initially targeting commercial and agribusiness sectors.
“The addition of a residential platform enables us to offer a full suite of property and tax depreciation services across all sectors,” Scott said.
The business specialises in formulating depreciation schedules and providing associated advisory services, including preparing property reinstatement costs and depreciated replacement cost assessments. 
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Investors overlooking depreciation benefits: CBRE

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Genworth’s Homebuyer Confidence Index has risen 7.3 points in September, largely as a result of low interest rates reducing mortgage stress.
First home buyers that purchased over the past 12 months were significant contributors to the lift in confidence, at a high not reported since September 2012, while mortgage stress in general is significantly lower.
In fact, the index recorded that mortgage stress experienced by home owners has almost halved – falling to 15% in September from 28% in March.
Meanwhile, 2% of home owners were reported as behind their mortgage repayments, compared to the three year average of more than 3%.
Genworth Australia chief commercial officer Bridget Sakr said that they suspect the increase in confidence is a result of 13 months of historically low interest rates, as well as increased certainty around the May federal budget and the health of the economy.
“Almost half of surveyed home owners said they increased their mortgage buffer by making overpayments during the past 12 months,” said Sakr.
“Interest rates have virtually disappeared as a source of mortgage stress with just three per cent of struggling homeowners now citing this as a key factor of mortgage stress compared to 50% in September 2011.”
However, the Index also found a slightly increase in those who did not believe now was the time to buy, <a href="/expert-insights/buying/now-is-not-a-good-time-to-buy-a-sydney-or-melbourne-home-westpac-confidence-index">mirroring the results found by the Westpac Melbourne Institute Index of Consumer Sentiment</a>.
Sakr said this is potentially a result from an increase in property prices.
“While the Genworth Homebuyer Confidence Index has returned to a positive result overall, dwelling value growth of late and the ongoing challenge of saving a deposit means that many prospective first homebuyers are still finding it difficult to enter the property market,” she said.
The index is a survey of more than 2,000 Australians, which asks about the proportion of monthly income used to service debt, comfort levels around LVRs, repayment over the past 12 months and future 12 month expectations.
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Mortgage stress has halved, just 2% behind on repayments: Genworth

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Despite the Reserve Bank of Australia’s concerns about the housing market’s price growth, it appears that not all are changing their predictions of a period of rate stability and macro involvement isn’t on everyone’s radar.
Westpac’s chief economist, Bill Evans, has noted in their latest bulletin that they are not altering their rate forecast – expecting the first hike to be in 2015.
He notes that they expect the rise to be in 2015’s September quarter, driven by a global outlook, modest lift in consumer spending momentum, non-mining investment and a falling unemployment rate.
While house prices and credit growth are also expected to also be rising, he says it will not be at a sufficiently rapid pace to trigger a rate increase.
However, Evans does note that the RBA is likely to either maintain or step up its public warning around housing prices and investor activity.
“A reasonable conclusion is that Australia is unlikely to introduce the New Zealand style of direct macro prudential controls,” he said.
He noted that APRA may lift its intensity of communication to ADI boards and even impose another round of stress testing, though it’s conceded that banks already regularly conduct stress testing.
“It seems unlikely that, at this stage, it would adopt the policies of 2003 where it raised the risk weighting on home loans and increased the capital requirements of mortgage insurers,” he said.
His notes suggest that the current boom is not a replica to that of the early 2000s, despite its similarities.
“The 2000-03 period bears some comparison with the current situation. In that earlier period annual growth in credit to investors peaked at 30% and overall housing credit  growth peaked at 22%,” he said.
The household debt ratio had risen by “26ppts in just two years” and lending standards were seen to have eased.
However, compared to the current environment, clear differences emerge.
“Currently annual credit growth for investors is running at 8.9% with the 6mth annualised pace at 9.5%,” he said.
“Overall housing credit is running at a steady 6.7% annual pace. The household debt to income ratio has risen 4ppts over the last year and remains below its peaks in 2010 and 2007.”
While the debt to income ratio level is higher than it had been in 2003, he notes that they believe this understates the extend of Australian households’ deleveraging since 2007, including accumulating funds in offset accounts.
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RBA’s bubble warning has not changed ‘on hold’ prediction: Westpac

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Less than 12 months ago CBRE launched their capital allowances business in Australia, adding to services offered in the UK and the US, and now they’re expanding the offering to include a residential tax depreciation platform.
The Capital Allowances division specializes in depreciation schedules and association advisory services, such as preparing property reinstatement costs and replacement cost assessments. Previously, they’d be focused on commercial sectors.
CBRE Capital Allowances national director Neale Scott said that they would capitalize on the residential valuations business to create a new national platform covering all metropolitan locations.
“With the advantage of a strong performing residential valuation business, we are in an ideal position to offer market leading pricing, report and delivery times,” Scott said.
“Having recently undertaken some of the largest assignments in the commercial Agribusiness sections, the addition of a residential platform enables us to offer a full suite of property and tax depreciation services across all sectors.” 
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CBRE adds residential to their tax depreciation services

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Mortgage broker network 1300HomeLoan has warned that if the Reserve Bank reacts in a sudden kneejerk fashion to changes in house price movements, the result could be disastrous.
Managing director of 1300HomeLoan John Kolenda said that with current speculation over a potential rate increase for the first time in four years due to overheating house price concerns, the RBA could be making a major mistake.
He pointed to the fact that the house price rises are mainly happening in Sydney.
“We have consistently warned about the potential detrimental impact of the RBA lifting its cash rate prematurely in response to factors such as house prices, which are in a two speed market,” he said.
“Creating a more confident consumer climate required numerous rate decreases over the past few years and pulling the trigger too early could have disastrous consequences.”
Kolenda said that consumer sentiment is still subdued, with a 4.6% fall in September recorded by the Westpac Melbourne Institute Index, while unemployment is still above 6%.
“The RBA hasn't lifted its cash rate since November, 2010, and we believe the lower interest rate strategy has helped to restore some confidence among consumers in challenging economic times highlighted by patchy retail spending and a soft jobs market.”
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