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>.

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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

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Australia’s banks are the most profitable in the world, according to the latest <a href="https://www.bis.org/publ/arpdf/ar2014e6.htm" target="_blank">annual report</a> from the Bank of International Settlements.
The big four last year pocketed $27 billion in profit, up 9.5% on the previous year.
Australian banks lead the world in terms of pre-tax profits (as a percentage of total assets) at 1.28%, with the US coming in a close second at 1.24%. Australia also showed the third best net-interest margin, the fifth best loan loss provisions and the third lowest operating costs.
Australia’s insurance sector also stood out as the best performing in the world.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Aussie banks the world's most profitable

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Lender MyState has appointed Melos Sulicich as its chief executive officer, effective 1 July. 
Melos Sulicich previously headed RAMS at Westpac from 2008 to November 2013.
MyState chairman Miles Hampton said the appointment was motivated by Sulicich's previous experience in wealth management and broker distribution.
Sulicich replaced John Gilbert who retired in March.
Martine Jager was announced as Mr Sulicich’s replacement by St George Bank, which operates the RAMS distribution business for Westpac.
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jchancellor-FAypfDUnLy

Melos Sulicich appointed lender MyState's new CEO

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All experts surveyed by a rates comparison website have predicted that interest rates will stay on hold tomorrow.
In a survey conducted by <a href="https://www.finder.com.au/" target="_blank">Finder.com.au</a>, 18 expert respondents believed the Reserve Bank of Australia (RBA) will keep the overnight cash rate at its record low of 2.50 for July.
Of the respondents, 11 predicted that rates will rise in the next 12 months. Six experts – from Commonwealth Bank, Commsec, AMP, HSBC, St George Bank and Urbis – stated that interest rates could begin picking up before the end of the year.
The cash rate will stay on hold for this year, rising in the second half of next year, according to experts from Heritage Bank, RAMS, AAP and Westpac.
With almost all predicting an eventual rise, treasurer of ING Direct Michael Wills was the only respondent who argued that the cash rate could either increase or decrease at its next move, believing there were convincing cases for each scenario.
Analysis and research firm BIS Shrapnel, who did not participate in the survey, expect rates to stay on hold until an increase in 2015, anticipating a subsequent decrease in demand for off the plan properties.
“The expected tightening in interest rate policy is forecast to have an impact on off-the-plan purchasers,” wrote BIS Shrapnel in a statement last month.
“The first rises in interest rates are anticipated around the middle of 2015, with interest rates expected to reach their peak towards the end of 2016, thereby dampening demand over the subsequent years, and causing both new apartment approvals to decline and prices to weaken.”
According to Michelle Hutchison, Money Expert at Finder, borrowers must begin planning for a future rate rise.
“It looks like we have well and truly hit the bottom of the cash rate cycle and interest rates are set to climb within the next 12 months, with only one of the 18 experts in our survey (ING Direct) was unsure of which direction the next rate move will be,” said Hutchison.
“According to the Australian Bureau of Statistics, over 70% of households have some form of debt such as a home loan, credit card, personal or business loans or unpaid bills. So regardless of whether the next cash rate rise will be this year or next, it’s likely that most households across Australia will be hit hard and need to start planning ahead before it’s too late.”
Using ABS Housing Finance data, the comparison website has found Australians are increasing their debt levels in the housing market. The average home loan size has increased by 64% since 2004 to $314,000. The average size of fixed home loans has increased by 97% over the last decade, to $327,000.
For first home buyers, the average loan size has risen by 50% to $301,000.
“With average home loan sizes among the highest we’ve ever seen, it’s a real concern that many borrowers will struggle with bigger interest rates," said Hutchison.
“If the cash rate reaches average levels of the past decade of about 5 percent and home loan interest rates follow to an average of about 7 percent, that would cost the average home loan of $318,000 an extra $345 per month or over $4,000 in a year."
“Everything you can do now to pay down your debts as much as possible will reduce the impact of rising interest rates in the near future,” she said.
For the experts' predictions and commentary, go to the next page.
<hr class="system-pagebreak">
The experts surveyed by Finder made the following predictions:
Garry Shilson-Josling, AAP "...The recovery will be slow so there's no need to put the brakes on with a rate rise just yet. The outlook is highly uncertain, but in the absence of a major global shock the RBA should start lifting rates again after a fairly long wait as the economy slowly gathers pace..."  Predicts rates will change: Late 2015
Shane Oliver, AMP     "...The Reserve Bank has cut interest rates to record lows...to boost the rest of the economy, and there's spectative evidence that it's working, but it's still tentative... The most recent budget has had a negative impact on confidence, and that's thrown a bit of a spanner in the works..." Predicts rates will change:  Late this year or early next year
Warren Hogan, ANZ "The economy is playing out as expected ... essentially monetary policy is set to remain on hold for an extended period of time."
Predicts rates will change: Next year, possibly first half of 2015.
Steven Pambris, Bank of Sydney "...The measures announced in the budget were as per our expectations with contractionary impact already reflected in the drop of consumer confidence in the latest surveys. We see that the current record low interest rates will have to continue for some time and in line with our previous position do not expect any movement in rates in 2014, if any more likely in March 2015" Predicts rates will change: March 2015
Michael Blythe, CBA  "The economy appears to be improving, but there's still a lot of uncertainty of course so it's the RBA's preference to wait and see what happens..."  Predicts rates will change: November 2014
Craig James, Commsec "...At the end of the day, the Reserve Bank wants to keep inflation between 2.03%... As each month passes it does appear clear the Reserve Bank wants interest rates to remain where they are for a long period of time..." Predicts rates will change: November/December 2014, maybe early 2015
Don Magin, Greater Building Society "...There is no sign of inflation. The RBA will be particularly concerned about pressure on capital expenditure. The good GDP growth we saw in 2012, based on investment by the mining sector, has subsided..." Predicts rates will change: Mid-2015
Paul Williams, Heritage Bank "The RBA appears happy with current rate settings while the domestic economy tries to build some momentum. The RBA will be keeping an eye on the trends in unemployment, the strength of the Australian dollar, inflation levels, developments in key offshore economies, as well as rising tensions in the Middle East..."  Predicts rates will change: Well into 2015
Paul Bloxham, HSBC "...Economic growth is still underway and interest rates will remain at record lows – which is where they are now." Predicts rates will change: Around the end of the year, around Q4
Michael Wills, ING Direct "...It is difficult to see a scenario in which the RBA would change the cash rate... Equally compelling scenarios can be constructed to support both an increase and a decrease in the cash rate... Rates are on hold for an extended period that could extend into the first quarter of 2015." Predicts rates will change: Could extend into the first quarter of 2015
John Caelli, ME Bank "...Growth remains moderate and consumer confidence has taken a hit following the Federal Budget. The uncertainty over the Budget process will cloud the outlook for a period of time. The next likely rate change will be in the first half of 2015 and is likely to be up." Predicts rates will change: First half of 2015
Glenn Levine, Moody’s Analytics "...Inflation is within target and the economy is expanding slightly below potential... Tepid wage growth and a slightly looser labour market will help to keep inflation within target... The next move will likely be an interest rate increase around the middle of 2015 as we expect certain parts of the economy to be bumping up against capacity constraints by this time." Predicts rates will change: Mid-2015
Jonathan Chancellor, Property Observer "...I still think the next rate change won't be until 2015, although the RBA historically likes to surprise. Let's see how the federal budget aftermath works it way through the economy after the new Senate in July takes effect. Consumer sentiment is still at its lowest level in almost three years..."
Predicts rates will change: 2015
Nathan McMullen, RAMS    "...Monetary policy settings remain mildly expansionary relative to long run averages and are appropriate given the current outlook for inflation... We continue to expect the RBA to keep interest rates on hold through the remainder of 2014 and much of 2015." Predicts rates will change: Q4 2015
Janu Chan, St. George Bank "...On the one hand interest rates are quite low, and they are helping to support the economy, but at the same time there are some risks on the horizon... The strong growth that we saw in Q1... We'll not be sustaining that momentum in Q2..."  Predicts rates will change: November of this year, but this could be delayed until early 2015.
Scott Haslem, UBS "...We're seeing signs of improvement within the non-mining economy. The overall outlook for the economy is contained... The economy is not showing enough improvement for concerns of inflation..." Predicts rates will change: Not until 2015
Nicki Hutley, Urbis "...A solid first quarter economic performance is likely to be followed by a bit of a stumble in the second quarter of 2014, on the back of weaker consumer confidence and demand following the Federal Budget... The RBA will want maintain its watch and wait stance for at least another quarter..." Predicts rates will change: Q4 2014
Bill Evans, Westpac  "...The terms of trade will have fallen in Q1 while the AUD has remained stubbornly high. We retain our forecast for an improvement in the condition of non mining equipment investment from a contraction of 11.5% in 2013 to a modest lift in 2014 of 3.4%..."     Predicts rates will change: Third quarter of 2015, with a 25 basis point hike in both the September and December quarters
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jrichardson-uRX5hFdKfN

Experts predict RBA will keep rates on hold for July: Finder

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The federal government says the Australian Securities and Investments Commission investigators must “lift their game” in the wake of the Senate inquiry into the Commonwealth Bank, <a href="https://www.theaustralian.com.au/business/mathias-cormann-plays-down-calls-for-inquiry-into-commonwealth-bank-says-asic-must-lift-its-game/story-e6frg8zx-1226968608995" target="_blank">reports The Australian</a>.
Finance Minister Mathias Cormann was asked on radio this morning about ASIC’s failure to investigate tip-offs against the CBA.
“ASIC of course has come out and has acknowledged they got some of these things wrong, and they’ve certainly got to lift their game,” said Cormann.
The Senate inquiry yesterday condemned the conduct of the CBA, calling for a Royal Commission to investigate the scandal involving rogue financial planners.
The Commonwealth Bank has said it is sorry some of its financial advisers failed customers, but denies it has downplayed the wrongdoing and tried to minimise its compensation, according to The Australian.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Federal government tells ASIC to “lift their game”

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With the end of the financial year on our doorstep, tax deductions are on everyone’s mind.
If you own an investment property, depreciation is one of the major tax deductions available to you. As your property wears out, you can claim that loss against your taxable income.
Depreciation claims change the amount of tax property investors need to pay on their income. So if your income tax rate is 37 cents to the dollar, and you make a $10,000 deduction on your investment property, you can get $3,700 cash back at the end of the financial year.
Although all property investors hope that their property will increase in value over time, depreciation refers to the physical condition of the materials on that property.
Brad Beer, managing director of BMT Tax Depreciation, explains that depreciation can be applied to any investment property that’s being used for income producing purposes.
“The only thing that’s excluded really is your principal place of residence, because it’s not an investment property,” he says. According to Beer, around 80% of investors are not maximising their depreciation deductions.
Some people believe that depreciation can only be claimed on new properties, where the materials may degrade more quickly. However, Beer explains that this isn’t the case.
“Old property definitely still gets depreciation,” he says.  “It doesn’t get as much, it doesn’t last as long. But there is still depreciation there. We should be able to look at it, and ask a few questions about your property, to see if there are any deductions there and it’s worth going through the exercise.
“The age of the property does matter, for certain reasons, for what you’re going to be able to claim. But it’s not a ‘you get it or don’t get it’, it’s a ‘you get a bit more, or you get a bit less’ sort of situation.”
When owners renovate their investment property, there are two opportunities to claim depreciation – before the renovations, and after. Beer says that while many people recognise the need to claim depreciation on new items that they’ve installed – the new kitchen unit, or floorboards, they often forget the materials they’ve scrapped as part of their renovations.
“When you bought this property, if you were using it for rent, or for income producing purposes, you had some items in there that were helping to get that income,” says Beer.
“But if you throw them away before their life runs out, the rest of the value that’s left is potentially an instant deduction, all at once, rather than continuing to depreciate.”
The depreciation deductions available are estimated by a quantity surveyor, who prepares a depreciation schedule.
“A quantity surveyor estimates construction costs, traditionally,” says Beer.
“A tax office will accept the cost estimates of a quantity surveyor for the purpose of depreciation. We work alongside the accountant. The accountant doesn’t estimate construction costs, and therefore uses our numbers as part of the overall tax return, and we help to make sure it’s ATO compliant, and get the maximum deduction for the client.”
A quantity surveyor will visit your property and identify everything that is claimable, to maximise your deduction. As experts in depreciation, specialist quantity surveyors, are able to look the condition of a property and its items, with their costs, and assess the available deductions.
According to Beer, once a depreciation schedule is completed, another report is only necessary if  changes are made to the building.
“If you change what’s there, even if you throw away one dishwasher, and put a new dishwasher in, you’re kind of changing the depreciation a little bit,” he says.
“We don’t need to come and visit and look at one new dishwasher. But we may need to adjust the report and we can adjust your tax return.”
For investors who are unsure whether the cost of engaging a quantity surveyor is worth the available depreciation deduction, especially on older properties, Beer recommends getting an estimate from a quantity surveyor before they visit the site, using photographs, estimates of the cost of items, and previous depreciation claims.
“A quantity surveyor should be able to give you a rule of thumb pretty easily on what sort of deductions should be there,” says Beer.
“And normally they should back their work after that, and go ‘If I can’t get some deductions, you shouldn’t have to pay for the report.’”
As accountants use depreciation reports when they’re preparing your taxes, it’s important to consult them about your quantity surveyor.
“By all means, have a discussion with your accountant before you ever engage with a quantity surveyor to do your depreciation schedule,” says Beer. Your accountant may be able to recommend a quantity surveyor to you, or show you examples of reports they’ve worked with before.
For those who have forgotten to claim depreciation in the past, or who have guessed the level of claimable depreciation rather than engaging a quantity surveyor, it is possible to back date your depreciation claims – to an extent. Amendments can be made to tax returns for the past two years, if you haven’t been maximising your depreciation claims. For more information on tax claims related to your investment property, see the <a href="https://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/ind00342353n17290613.pdf" target="_blank">Australian Tax Office's website</a>. 
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Your guide to property depreciation

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A class action by 2000 small MFS Octaviar unitholders against auditing and accounting firm KPMG has been settled out of court for a reported $20 million plus.
Unitholders in the Premium Income Fund, an offshoot of Gold Coast-based finance, property and tourism group MFS, also known as Octaviar, brought the case against KPMG.
KPMG was the managed investment scheme’s compliance plan auditor.
MFS collapsed in early 2008 owing about $3 billion.
MFS Ltd was a publicly listed company with interests in financial services, travel and leisure and child care businesses. MFSIM was an unlisted public company and wholly owned subsidiary of MFS Ltd (now in Liquidation).
MFSIM was the responsible entity for six unlisted managed investment schemes, including the PIF and the Maximum Yield Fund (‘MYF’).
In late 2009 ASIC commenced its own civil proceedings in the Supreme Court of Queensland against MFS Investment Management Ltd and four former officers and one manager of MFSIM. The proceedings relate to the use of $147.5 million in funds of the Premium Income Fund (PIF), for which MFSIM was the responsible entity at the relevant time.  In taking this action, ASIC stated it was addressing the core obligations of a responsible entity and its directors and officers to operate the fund with care and diligence, and in the best interest of the fund’s members.
From November 2013 to December 2013, the trial was part-heard before Justice Douglas with further trial hearings in April 2014 and May 2014 and further hearings scheduled for August 2014.
Earlier this month the Law360, New York website reported Octaviar Administration Pty Ltd won Chapter 15 recognition in a New York bankruptcy court, six months after the Second Circuit overturned an earlier order granting the relief. Over the objections of Drawbridge Special Opportunities Fund LP, a hedge fund managed by Fortress Investment Group LLC, U.S. Bankruptcy Judge Shelley C. Chapman found that Octaviar meets the provision of the Bankruptcy Code requiring debtors to prove that they have property or a place of business in the U.S.
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MFS Octaviar class action against accounting firm KPMG settled

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It may be nearing the end of financial year, but there are still steps you can take to maximise your tax refund, explains Mortgage Choice’s Jessica Darnbrough.
Figure out what you can claim
It’s crucial to know what it is you are and are not able to claim on your tax refund, explained Darnbrough.
“Many people have no idea that they can claim a tax deduction on petrol or home office expenses,” she said.
“You don't have to run a business from home to claim things like stationary. Rather, you just need to have a dedicated place to work at home.”
Property investors often don’t realise there are a range of expenses they can claim for. These include:
<ul>
<li>Agents' fees 
</li>
<li>Advertising 
</li>
<li>Body corporate fees 
</li>
<li>Capital expenses 
</li>
<li>Building maintenance and repairs 
</li>
<li>Cleaning 
</li>
<li>Insurances 
</li>
<li>Home loan fees 
</li>
<li>Interest payment 
</li>
<li>Council and water rates 
</li>
<li>Travel to/from a property for inspections</li>
</ul>
“One aspect that property investors often overlook when lodging their tax return is depreciation deductions. Depreciation applies to new and existing residential properties and in most cases owners of an investment property or properties are likely to be able to claim something,” Darnbrough suggests.
Consider an advisor
As everyone’s situation differs, it may be worth getting yourself a financial advisor to help determine the deductions.
Review your situation
“Part of good tax management involves making plans for the year ahead rather than facing a last minute rush,” said Darnbrough.
Mortgage Choice’s tips:
Formalising salary sacrifice super arrangements: Making salary sacrificed super contributions offers a simple way to save on tax and build wealth. It involves having part of your before-tax salary paid into your super rather than taking the money as cash in hand. 
These contributions are taxed at 15%, which is likely to be below your marginal tax rate (which could be as high as 46.5%), so more of your money goes towards growing your super rather than paying the tax man. Up to $25,000 annually can be added to super through pre-tax contributions ($35,000 if aged 60-plus). This limit includes your employer's compulsory contributions.
Examine your asset structure: It is important to review how your assets are structured on a regular basis (at least once a year) to make sure you are achieving a balance of flexibility of use and protection from creditors and excess taxes. If done effectively, asset structuring can provide tax advantages, family tax protection and the longevity of assets.
Use your tax return to your advantage: Every little bit of savings can put potential buyers closer to property ownership. Those looking to purchase property could consider contributing their tax refund into a high interest paying savings account or they could utilise the tax refund to reduce any existing debt. Having too much debt can make a difference when it comes time to apply for a home loan.
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Act now to maximise your tax refund: Mortgage Choice

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Rate predictions are starting to roll in, with less than week until the Reserve Bank meets again to assess he current cash rate.
General manager markets for ME Bank, John Caelli, has been clear that they do not expect the RBA to change the rates at their July meeting next week.
“Growth remains moderate and consumer confidence has taken a hit following the Federal Budget,” said Caelli.
“The uncertainty over the Budget process will cloud the outlook for a period of time,” he said.
How long will we see stable rates for?
“The next likely rate change will be in the first half of 2015 and is likely to be up,” he predicted.
This appears to be in line with other market predictions, with some debating the timing of the next movement, however the majority agreeing that the next change will be an increase.
Here are <a href="/expert-insights/finance/industry-perspectives-on-the-rba-s-interest-rate-hold">the industry perspectives on June’s interest rate hold</a>, for instance.
YOU MAY ALSO WANT TO READ:
Interest rates crash course: <a href="/expert-insights/finance/interest-rates-crash-course-whats-the-relationship-to-the-property-market">What's the relationship to the property market?</a>
<a href="/expert-insights/finance/16-experts-predict-no-change-from-rba-tomorrow">16 experts predict “no change” from RBA tomorrow</a> (June 2014 decision)
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No July rate increase - look to next year instead: ME Bank

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Banks earned $1.226 billion in fees on home mortgages in 2013, up slightly from the year before, a survey by the Reserve Bank of Australia has found.
Fee income from home lending increased by 0.4% over the year, despite a drop in exception fees (such as fees for late payment), charges for breaking fixed-rate loans, and service fees from securitised loans.
The Reserve Bank’s annual bank fee survey for 2013, released last week, included 16 financial institutions, which together accounted for about 90% of total Australian banking sector assets.
The study found that between 2007 and 2012, fees on home loans increased by an average of 2.5% a year, the fastest growth rate for fees on any category of bank product sold to households.
Account-servicing fee income from housing loans increased during 2013 due mainly to a rise in housing loan approvals.
Housing finance approvals for owner occupation rose by 1% from November 2013 to December 2013 in trend terms, according to Australian Bureau of Statistics data. Seasonally adjusted, the number of home loan approvals rose by an average of 1.44% a month over 2013, ABS data shows.
The RBA study noted that growth in housing loan approvals was usually associated with higher establishment fee income, but some banks had been waiving those fees for some customers.
Exception fee income from housing loans to households fell by 16.6% to $30 million in 2013. The RBA noted that exception fee income had declined by more than 50% since 2009.
The major banks reported low levels of bad debts during the recent reporting season and many customers were ahead on their repayments.
Overall, banks earned $4.136 billion in fees from households, an increase of 2.3%, following three years of declining fee growth. Most of the increase was driven by higher fee income from credit cards and personal loans.
From businesses and households combined, banks earned around $11.6 billion in fees in 2013. 
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Banks earned more than $1.2 billion from home mortgage fees last year

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The ATO’s increased IT capabilities has one accountant warning investors that capital gains tax is one area you do not want to be messing up.
The ATO is able, under legislation, to access data that others cannot reach due to privacy legislation. This is then matched against your information and claims made on your tax returns.
Capital gains tax is particularly on the radar, warned Property Tax Specialists’ Shukri Barbara.
His tax tip is to ensure that you declare all transactions.
“Diffculties tend to arise in distinguishing when a sol property was exempt due to it being a Main Residence and protected under thesix year rule if it was subsequently rented. They are not to be messed with in 2014/15,” Barbara noted.
Timing your capital gains and losses on investment properties is also crucial.
He urges investors to remember that the important date is the contract date, and not the settlement date. If you’re carrying capital losses, then note the date against any capital gain you may also be realising.
His tip is that if you’re singing the contract before June 30, then any gains can be offset against tax incurred over the year or carried forward from a previous year “before the balance can be assessed as taxable.”
“If there is an excess of taxable amount – 50% discount may be applicable if the property was held for longer than 12 months,” he explains.
If you sign a day later, on or after July 1, then the tax is reported in the 2014 tax return.
“What you do not want to do is generate a CG this year, pay tax and then sell a loss property next year when there are no CG to offset against,” says Barbara.
“Capital losses incurred in any year are available to be carried forward to future years if there are insufficient gains to absorb it in the same year. It can be carried forward for an indefinite period.”
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