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>

Joel Robinson

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

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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>
A “benign” inflation reading for the second quarter of the year on Wednesday should see the RBA cut the cash rate to 2.5% on August 6, says AMP Capital chief economist, Shane Oliver.
“While solid gains are expected in prices for fresh fruit and vegetables and health, this is likely to have been offset by continuing poor pricing power as clearly evident in the NAB’s business survey resulting in a rise in the CPI of 0.5% in the quarter and 2.5% year on year,” says Oliver in his latest weekly and economic market update.
This would leave inflation at the mid-point of the RBA’s target band of between 2% and 3% providing scope for another rate cut to support demand for the non-mining sectors of the economy.
“The average of the underlying inflation measures are also expected to have increased by 0.5% in the quarter resulting in 2.3% year on year,” says Oliver.
“With both measures running around or just below the mid-point of the RBA's inflation target, inflation is not a barrier to further monetary easing."
Oliver expects a pick in the residential building sector following last week’s data releases showing a fall in housing starts and imports.
“The rising trend in building approvals suggest that the fall in housing starts will be short lived,” he says.
Taking a more holistic look at the markets, Oliver expects share markets to trend up broadly despite the potential for more volatility from such factors as the US Federal tapering its monetary stimulus policy, approaching US debt ceiling negotiations, growth in China and the growth slowdown in Australia.
He says valuations are still reasonable; “monetary conditions are likely to remain very easy with interest rate hikes a long way off in all developed countries and rates still likely to fall further in Australia; and the gradually strengthening global growth outlook points to stronger profits ahead”.
“So by year end we see further upside in global and Australian shares,” he says.
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lschlesinger-FZcF9M3vE6

Benign inflation reading sets scene for August rate cut: Shane Oliver

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ASIC has succeeded in obtaining court orders to freeze the assets of former Wickham chief executive Garth Robertson and his wife Catherine as well as the assets of three companies connected to Wickham Securities founder Bradley Sherwin and his wife Deborah.
The addition of the five new defendents to existing proceedings and freezing their assets is aimed at preserving these assets for the benefit of investors, largely self-managed superannuation funds. 
ASIC's investigation into the collapse of Wickham Securities - now in liquidation - is continuing.
The new orders bring the number of defendants in the proceedings to 15.
The new defendants are Brothers Financial Services Pty Ltd, NRL Financial Services Pty Ltd, Sunshine Regional Investments Pty Ltd, Garth Peter Robertson and Catherine Louise Robertson. 
Self-funded retirees had invested around $27 million in the mortgage lender through $1 unsecured deposit notes promising returns of 9.25% prior to its collapse in December last year.
Last month, ASIC <a href="https://www.propertyobserver.com.au/queensland/wickham-securities-auditor-accepts-asic-life-ban-as-nab-seeks-to-repossess-founder-bradley-sherwins-wooloowin-house/2013062762789" target="_blank">cancelled the registration of Wickham Securities auditor Brian Kingston</a> for undertaking "inferior work" and "failing ins his job" and banned him for life.
In January ASIC commencing proceedings seeking orders in the Federal Court against ten defendants to preserve assets for the benefit of investors whose funds had been applied to Wickham and other corporate entities connected to Bradley Sherwin and against his wife. Those companies were: 
<ul type="disc">
<li>Sherwin Financial Planners Pty Ltd</li>
<li>DIY Superannuation Services Pty Ltd</li>
<li>Reacroft Pty Ltd</li>
<li>Blue Diamond Investments Pty Ltd</li>
<li>SP Property Pty Ltd</li>
<li>Astor Funds Pty Ltd</li>
<li>Sherwin Financial Services Pty Ltd, and</li>
<li>Wickham Capital Pty Ltd.</li>
</ul>
The orders to freeze assets were extended by the Federal Court when the matter was heard on January 23 and remain in place save to the extent of Sherwin Financial Planners, DIY Superannuation Services, Reacroft, Blue Diamond Investments, SP Property, Astor Funds and Wickham Capital.
These companies are now in liquidation with their assets in the control of the appointed liquidators Stefan Dopking, Quentin Olde and Michael Ryan of FTI Consulting. Grant Sparks and David Leigh of PPB Advisory are the liquidators of Wickham Securities.  PPB and FTI are cooperating with ASIC's investigation.
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ASIC freezes assets of former Wickham Securities chief executive

<html><body>
Some smart property investors make extra-large concessional superannuation contributions up to their annual contributions cap in the same tax year as selling an investment property for a capital gain.
Certain eligible super fund members– including the self-employed and nonemployee investors – can claim deductions for their concessional contributions.
And their large deductions may offset, at least to some extent, the CGT payable on the capital gain.
The concessional contributions cap for 2012-13 is $25,000 for members over and under 50. (Don’t overlook that the concessional cap for members over 50was halved to $25,000 from July 1, 2012.)
See our free ebook on the <a href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies" target="_blank">top 24 tax strategies</a> for property investors.
</body></html>

mlaurence-vhAHaLZT8y

Cut capital gains tax with super

<html><body>
It was during the 1850s Victorian gold rush that a tent city known as Canvas Town was established in what's now known as South Melbourne.
The area was home to tens of thousands of migrants, particularly from Ireland and China, who having disembarked were soon off to seek their fortunes in the central Victoria goldfields.
Some 160 years on, it's property speculators who are homing in on the five South Melbourne luxury apartments from the hit Channel 9 reality television show The Block Sky High 2013.
"They are an underlying investor’s goldmine," according to BMT Tax Depreciation boss Bradley Beer.
"The units will obtain maximum depreciation potential within the first 5 years of ownership," he said.
BMT has identified significant deductions available to property investors bidding at the July 27 auctions where prices are tipped to be $1.2 million plus.
All listing agents are likely to be using the BMT reports in their pitch to convince investors to be among the buyers.
The depreciation reports have been prepared by BMT Tax Depreciation Quantity Surveyors, which have inspected the former motel premises – now renovated – and estimated what a buyer could claim in deductions in his or her tax returns.
<img height="377" width="470" src="/images/stories/2013/07/titletattlejuly19chart1.jpg" alt="titletattlejuly19chart1">
<img height="377" width="470" src="/images/stories/2013/07/titletattlejuly19chart2.jpg" alt="titletattlejuly19chart2">
The tax depreciation schedule for apartment 301/142 Park Sreet - Bec and George's apartment listed through Gerald Betts at RT Edgar - advises purchasers could claim over $38,000 in deductions during the first full year leading to a cumulative total of $165,000 in the first five years of ownership.
But research shows that 80% of property investors fail to take full advantage of property depreciation, Beer says.
“They are missing out on thousands of dollars in their pockets,” he says, as the Australian Taxation Office allows property owners to claim depreciation over items that wear out as a tax deduction.
<img height="379" width="470" src="/images/stories/2013/07/titletattlejuly19chart3.jpg" alt="titletattlejuly19chart3">
<img height="380" width="470" src="/images/stories/2013/07/titletattlejuly19chart4.jpg" alt="titletattlejuly19chart4">
Depreciation can only be obtained by property owners who obtain income from their property.  The BMT report has been based on very preliminary documentation, and the figures provided serve as a guide only.
The Block's Bec and George have listed their three-bedroom South Melbourne apartment through an agent who is well versed in reality TV listings.
RT Edgar agent Gerald Betts oversaw the listing of the <a target="_blank" href="https://www.propertyobserver.com.au/auctions/rootop-study-v-bar-four-bedrooms-v-three-dorcas-street-block-floorplans-indicate-the-auction-battlelines/2012060154945">407 Dorcas Street terrace</a> in South Melbourne (pictured below) that was the final offering to hit the market from the 2012 season of The Block. It was the offering of Dan and Dani and sold for $1,440,000.
{yoogallery src=[images/stories/2012/05/june1block]}
This time around, he is marketing Bec and George's apartment on the premise that its charms will outlast its Block fame.
"The profile of The Block is prominent, but temporary. The appeal of this exceptional apartment is permanent," the marketing says.
The <a target="_blank" rel="nofollow" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2418224&amp;agentID=3193&amp;realestate=142_Park_Street_SOUTH_MELBOURNE_VIC_3205&amp;showGoBack=true">Park Street apartment</a> (pictured below) features Spotted Gum tectonic flooring and a large living area with a surround sound cinema entertainment system.
{yoogallery src=[images/stories/2013/07/july19southmelbourne]}
The kitchen has stone surfaces, a large island bench, European appliances, walk-in pantry and bar with beer and wine fridges.
The four Dorcas Street, South Melbourne terrraces from the hit Channel 9 reality television show The Block 2012  had BMT tax depreciation schedule advising investor purchasers they could claim over $30,000 in deductions during the first full year leading to a cumulative total of $140,000 in the first five years of ownership.

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jchancellor-FAypfDUnLy

Depreciation tax deduction opportunity for investors as The Block Sky High reality television series turns serious

<html><body>
Greater Building Society has become the second lender to offer a one-year fixed-rate of 4.39%.
The comparison rate is 5.47%.
This follows the Newcastle-based lender cutting the interest rate on its one year fixed-rate packaged home loan by 15 basis points.
The rate on its non-packaged one-year fixed rate home loan has been reduced from 4.95% to 4.59%.
The new rates kicks in from July 19.
The other lender to offer a 4.39% one-year fixed rate home loan is fellow Newcastle-based lender the Newcastle Permanent Building Society.
</body></html>

Greater Building Society cuts one-year fixed-rate to 4.39%

<html><body>
This is the reverse of <a target="_blank" href="https://www.propertyobserver.com.au/tax/turn-your-old-home-into-your-next-rental-property/2013071663214?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=end-of-yeartaxadvice">yesterday's strategy</a>.
But be aware, once a rental property becomes your home, interest on any outstanding loan is no longer deductible.
Some astute investors would wait until the loan is repaid before turning their one-time investment property into their private home.
See our free ebook on the <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies">top 24 tax strategies</a> for property investors.
</body></html>

Turn your rental property into your next home

<html><body>
The question of fair compensation is naturally occupying the minds of the owners of the 118 properties being compulsorily acquired for the East-West Link.
Premier Denis Napthine has promised to give residents ‘’fair compensation’’ for their homes and other expenses they will incur, but the question remains: ‘’What is ‘fair’? and when will this ‘fair’ figure be timeframed? Surely not right now, when values must have plummeted since the announcements became louder and the affected locations more precisely known.
The first stage of the contentious $6-$8 billion tunnel project will require the purchase and demolition of 92 homes and 26 commercial buildings as part of the first stage of the 6km project.
Another 258 properties will be affected by a tunnel underneath their properties, leaving the door open for owners to seek fair recompense on a case-by-case basis, News Ltd papers report.
And the owners of a block of houses in the path of the on-ramp of the proposed freeway received contact from the Linking Melbourne Authority earlier this week.
Case managers from the authority will negotiate the compensation, including legal and other association expenses, with affected residents, the government say.
Compensation is assessed under the Acquisition and Compensation Act 1986, plus any additional amounts and allowances which may apply, such as replacement property costs.
A property valuer assesses the value of the land without regard for any of the perceived negative effects of East-West Link.
Landowners also may claim ‘’reasonable’’ fees of professional advisors, such as a solicitor and/or land valuer, during the acquisition and compensation negotiations.
Some owners may even get extra compensation - above the market value of their land - depending on their circumstances. The authority will look at the length of time they’ve lived there, the inconvenience they’ve suffered and their age.
After receiving a Notice of Acquisition and an offer, affected residents can request an advance of the offer. The authority says payments will be made within 30 days of receiving the request -- without affecting an owner’s entitlements to continue negotiating a final settlement.
Once agreement is reached on the amount of compensation payable, the balance owing is reportedly paid ‘’as soon as possible’’.
Works on the project connecting the Eastern Freeway to the northern and western suburbs are due to start at the end of next year and the first stage is expected to take five years to complete.
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staylor-63KgDrKwoY

East-West link compensation a long time off finalisation

<html><body>
The banking sector has hit back at claims by building societies and credit unions that they offer significantly higher variable mortgage rates.
A campaign by the Customer Owned Banking Association claims that the average standard variable rate for customer owned banking institutions is 5.75%, which is 0.42% lower than the major banks.
This, it says, will save home loan customers around $64 a month or $19,220 over the life of a $250,000 loan.
In response, Australians Bankers’ Association (ABA) chief executive Steven Munchenberg said very few people pay the advertised standard variable rate, with most bank customers paying less.
In a blog post, he quoted ABA research showing that when mortgage discounts are factored in, bank customers pay on average a variable rate of 5.59% below the 5.62% offered by building societies and credit unions once their discounts are factored in.
This was based on the ABA analysing the full range of actual advertised rates for 518 variable home loan products offered by banks and others to customers, based on Canstar’s data for June 2013.
“The results suggest there is very little difference between banks and CUBS (credit unions and building societies,” writes Munchenberg.
“Of course, the CUBS draw comparison with just the major banks, but even here, the major banks’ average home loan interest rate, including their sub-brands, is 5.59%, below the average for the CUBS.”
He also points out that the analysis shows that one credit union has the lowest rate on offer, at 4.29% (without naming the institution) but that another unnamed credit union has the highest rate, at 7.45%.
“The message here is a simple one.  There’s no black and white ‘banks bad, credit unions good’.
“There are, however, more than 500 different home loan products from over 100 different lenders.
“If a customer feels they are paying too much, or they want a better deal, they should talk to their bank or get onto one of the comparison websites, like Canstar (www.canstar.com.au), and shop around. 
“You can also negotiate with a lender to see if they’ll offer you a discounted rate.  The best deal might be with a bank, a credit union, a building society or some other lender, but look at the actual rates, not sweeping generalisations,” he says.
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Mortgage wars: Banks claim lower discounted rates than building societies and credit unions 

<html><body>
A common strategy for propert i nvestors is to hold on to their old home as an investment propertywhile borrowing to buy a new home.
This presents an opportunity and a tax trap.
Interest payable on your old home’s remaining mortgage will become tax deductible once the property is available for rent.
However, interest on the loan for your new home is non-deductible.
“Beware of redraws,” warns Eddie Chung, partner and property tax specialist with accountants BDO in Brisbane.
“If you're draw on the old loan on the old home to buy the new home, the interest attributable to the redraw will not be tax-deductible.”
See our free ebook on the <a href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies" target="_blank">top 24 tax strategies</a> for property investors.
</body></html>

Turn your old home into your next rental property

<html><body>
Uncertainty has been cast over the RBA cutting the cash rate on August 6 follows publication of the <a target="_blank" href="https://www.propertyobserver.com.au/residential/gradual-improvement-in-housing-conditions-as-dwelling-prices-rise-rba-july-minutes/2013071663333?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">minutes of the July monetary policy meeting</a>, despite three of the four big banks pencilling in a 25 basis point cut next month.
The Australian dollar's depreciation, given added weight in the minutes, is expected to push up inflation and assist trade-exposed non-mining sectors making an August rate cut less likely.
Interest rate futures markets have reduced the probability of a rate cut from around 65% to 50% following the publication of the minutes, and in particurlar the final paragraph which mentions a higher inflation outlook following depreciation of the dollar.
But complicating the picture, the Australian dollar has risen strongly since publication of the minutes yesterday and is currently up more than 1 cent to 92.5 US cents.
HSBC chief economist Paul Bloxham says the currency and the RBA's interest rate outlook are “intertwined”.
"Slower than expected rebalancing may see the need for further policy stimulus from the RBA, but further weakness in the Australian dollar could obviate the need for further cuts," Bloxham says.
The major banks have played down, to an extent, the impact of the Australian dollar with Westpac, the Commonwealth Bank and NAB all pencilling in a rate cut next month.
ANZ is tipping November as the next likely movement down to a cash rate of 2.5%.
The Westpac economics team, led by chief economist Bill Evans, believes that the language being used in the minutes “is more about justifying the decision not to move in July despite further deterioration in the real economy rather than specifically providing guidance for future meetings”.
“The minutes show the exchange rate adjustment was a key factor in the decision and tend to confirm our view that the currency decline made July tactically unattractive for a rate move.
“A more downbeat assessment of domestic economic conditions in the July minutes and weak data releases since the meeting suggest the case for further easing to support demand has been strengthened,” says Westpac.
Westpac expects two further rate cuts – one in the December quarter and one in the March quarter - to take the cash rate to an expected terminal point of 2% in the current easing cycle.
Commonwealth Bank economist John Peters notes that the bias towards a rate cut is “somewhat more muted” than earlier in the year following the slide in the Australian dollar, but says that nothing in the minutes “makes us uncomfortable with our view that another RBA cash rate cut of 0.25% is coming most probably in August, after the second quarter CPI is released on July 24”.
NAB made its case for an August rate cut <a target="_blank" href="/news">last week</a> – bringing forward an earlier November decision after the bank's business conditions survey hit a four-year low.
The only outlier is ANZ with economist Justin Fabo highlighting expectations that a lower Australian dollar will stay the RBA’s hand with it appearing “relatively content to wait at least a little longer to gauge the effect of accommodative financial conditions on economic activity.
“Importantly, the RBA appears confident that the Australian dollar depreciation will be sustained and that the currency will fall further over time (but this is expected to be associated with lower terms of trade and weaker mining investment which will drag on growth),” he says.
“The minutes noted that the effect of lower interest rates was “apparent across a range of indicators” – mainly associated with the housing market to date – and that this process had further to run.
“Hence, even a low second quarter core CPI print of 0.3% to 0.4% quarter-on-quarter on 25 July is unlikely to be enough to tip the Bank into easing policy in early August.
“That said, near-term rates decisions are likely to be keenly debated as there appears to be little risk from easing policy modestly further.
“Indeed, it might help nudge the Australian dollar a little lower which would be beneficial in our view and seemingly from the RBA’s view.
“The (unknown) timing of the federal election complicates the outlook for monetary policy as the Bank will want to steer clear of the election (and can do so because it is not clearly “behind the curve” in terms of its policy settings).
“Overall, we maintain the view that the cash rate is still likely to be lowered at least modestly further later this year (we have a 25 basis point cut pencilled in for November)," says Fabo.
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