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 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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>
ANZ has left its standard variable mortgage rate unchanged at 6.13% following its monthly independent interest rates review.
The bank decides on its interest rate settings on the second Friday of every month.
It was the only major bank to pass on more than the 25 basis points cut from the cash rate by the RBA in May.
The bank cut its standard variable mortgage rate by 27 basis points on May 10 - the first time it has cut its interest rates by more than the RBA since implementing its independent interest rates review policy 18 months ago.
Variable interest rates for small business lending also remain unchanged said ANZ.
</body></html>

lschlesinger-FZcF9M3vE6

ANZ leaves variable mortgage rates unchanged at 6.13% 

<html><body>
HSBC has cut its two-year fixed rates for new home loans to 4.59%.
This is the lowest fixed-rate offering in Australia, according to InfoChoice and Cannex. 
To qualify, applications must be submit their applications by July 22. 
HSBC has also cut its three and five-year fixed rates to 4.79% and 5.09% respectively for new and existing customers.
The rate cut comes as Mortgage Choice reported that nearly a <a target="_blank" href="/news">third of mortgage approvals in May</a> were for fixed-rate home loans. 
“The easing in wholesale funding costs has also meant we can offer some of the lowest three and five year fixed-rates to our customers across the board,” says Alice Del Vecchio, head of mortgages for HSBC Australia. 
HSBC also offers a 4.99% variable rate home loan. 
“With fixed rates like these well below standard variable rates, now is a great time for borrowers to consider fixing or splitting their home loan between fixed and variable rates to get the best of both worlds. It’s a fantastic combination of certainty and value,” says Del Vecchio.
HSBC’s fixed rates are as follows:
2-year fixed rate 4.59%
3-year fixed rate 4.79%
5-year fixed rate 5.09%
</body></html>

HSBC cuts two-year fixed-rates to 4.59%

<html><body>
Nearly a third of borrowers fixed their home loan rate in May, according to home loan approval figures from Mortgage Choice.
This is despite the RBA cutting the cash rate to 2.75% and with further rate cuts expected, but also as lenders continuing to discount their fixed-rate offerings with the Commonwealth Bank the latest lender to do so last week, <a href="/news">now offering a three year fixed-rate of 4.99%.</a>
Fixed-rate loans amounted to 30.10% of all new loans submitted by Mortgage Choice brokers and approved by lenders during the month of May.
This is the fourth consecutive month that demand for this loan type has risen – rising by 13.75 percentage points since January.
The figures come out one month ahead of the official ABS housing finance data. April ABS data showed fixed-rate demand at five year highs with one-in-five fixing their home loan.
Mortgage Choice accounts for around one in 10 home loan arranged in Australia and its monthly updates are a good lead indicator of national demand.
Ongoing discount variable rate home loans remain the most popular loan type accounting for 38% of all approved loans over May. Discounted rates are usually offered as part of a home loan package deal.
They are followed by standard variable  and basic variable with 13% each of the home loan market.
<img alt="mortgage_choice_figures" height="364" width="470" src="/images/stories/AlexPerry/mortgage_choice_figures.jpg">
Queenslanders continue to be the most conservatively-minded borrowers with the state recording the greatest rise in fixed rate demand up by 7.43 percentage points to reach 37.84% - the highest all the states.
All states apart from Victoria/Tasmania recorded a rise in fixed-rate home loan approvals (21% of loans) with a third of NSW borrowers (33%) fixing their home loan in May. 
“For four consecutive months now a growing number of new borrowers have chosen a fixed rate loan. In fact, the uptake of fixed rate loans now sits almost seven percentage points above the six-month average," said Mortgage Choice spokesperson Belinda Williamson.
“Given the ongoing, competitive pricing of fixed rate loans, it is possible that new borrowers choosing this loan type are motivated less by the peace of mind offered by steady repayments and more by the current offers.
</body></html>

Nearly a third of borrowers fixed their home loan rate in May: Mortgage Choice

<html><body>
Demand for fixed-rate home loans surged to its highest level in more than five years in April, the latest ABS housing finance figures reveal.
More than one-in-five borrowers (20.6%) fixed their home loan rate in April up from 18.4% in March and 13.5% in February.
The ABS figures show big surges in fixed-rate demand in NSW (up 18%), Victoria (up 22%) and WA (up 31%) in April.
The previous high (and all-time high for ABS data going back to 1991) was in March 2008 when more than a quarter (25.5%) of borrowers fixed their home loan rate when the cash rate reached 7.25%.
This followed a period of increased take-up of fixed rates as the cash rate rose with fixed rate demand as a proportion of total mortgage lending above 20% between October 2007 and March 2008.
For many who fixed over this period, it proved a disastrous move as the RBA then proceeded to cut the cash rate by 425 basis points between September 2008 and May 2009 – leaving those on fixed-rates with significantly higher mortgage payments.
The only option then was too pay hefty mortgage exit fees (still in place for fixed-rate home loans) or continue to pay the higher mortgage payments until their fixed-rate term ended and then refinance into a cheaper variable-rate home loan.
This time the situation is quite different with the cash rate down to a 53-year-low of 2.75% and lenders offering enticing one, two and three-year fixed rates well below 5%.
A more conservative mindset amid concerns about the economy and jobs may also be a factor in rising take-up of fixed-rates.
The most recent lender to cut its fixed-rates was <a href="/news">the Commonwealth Bank</a>, the nation’s biggest mortgage lender, which cut interest rates on new three-year fixed rate home loans- the most popular fixed-rate term - to 4.99% per annum under its package home loan offering.
Others to have cut their fixed-rates recently include <a href="/news">Citibank</a>, <a href="/news">RAMS</a>, and <a href="/news">Aussie</a>.
</body></html>

Fixed-rate home loan demand surges to five-year high with one in five fixing: ABS

<html><body>
More than 110,000 property investors will receive letters from the Australian Tax Office after new data mining technology identified they may have submitted incorrect tax claims based on their 2011-12 tax returns.
Most will relate to incorrect rental property deductions with figures for the 2010-11 tax year revealing that around <a target="_blank" href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891">two-thirds of property investor negatively gearing their investments</a> and claiming losses on their investment properties to offset their tax bills.
“This year we are writing to more than 110,000 rental property owners about their entitlements and obligations, to help ensure tax returns are filled in correctly,” said the ATO in a statement.
The incorrect claims have been identified through new data-mining technology and using a specialist team called “the doctors”, reports Fairfax Media.
In April, the ATO revealed it would use new data-matching technology to closely scrutinise residential and commercial property sales to ensure tax payers paid the correct amount of tax.
It said 10.4 million taxpayers would face scrutinise over their property dealings this year with the ATO’s high tech computer systems gathering real property transaction details from state revenue offices and relevant state government land and property departments.
The recently released 2010-11 ATO figures show there was a small rise in gross rental income from $28 billion to $30.7 billion but a bigger rise in tax deductible rental interest payments (up from $18.4 billion to $22.7 billion), capital works deductions and other allowable rental deductions.
The ATO has<a href="https://www.ato.gov.au/corporate/content.aspx?doc=/content/00355988.htm&amp;pc=001/001/001/003&amp;mnu=0&amp;mfp=&amp;st=&amp;cy=" target="_blank"> released tips to ensure property investors know what they can claim and cannot claim.</a>
Expenses that may be claimed "straight away" in the income year in which they are incurred include interest on a loan used to purchase a rental property, interest on a loan to purchase land to build a rental property or interest on a loan to purchase a depreciating asset for the property - such as an air conditioner; or to finance renovations or home improvements, like a deck.
Investors can claim other expenses over a number of years, including the cost of depreciating assets, structural improvements and most borrowing costs.
Assets that are part of the property such as stoves, refrigerators, air conditioning and hot water systems can be claimed over a number of years as a 'decline in value' deduction.
Expenses for which investors are not able to claim deductions include acquisition and disposal costs of the property, expenses not actually incurred by them, such as water or electricity charges borne by tenants and expenses that are not related to the rental of a property.
</body></html>

ATO to write to 110,000 rental property owners over incorrect rent deductions

<html><body>
Borrowers who took out a home loan with Heritage Bank in 2000 have, on average, saved the most in home loan payments compared to 23 other lenders, a new survey has found.
Those who took out a Citibank home loan have, on average, paid the most.
A study of 23 Australian financial institutions in the period from 2000 to 2012 found that Heritage Bank had the lowest average standard variable home loan rate of 7.01% over this period while the most expensive was Citibank with an average standard variable home loan rate of 7.43%.
The difference in the two rates equates to nearly $1,000 a year in extra mortgage repayments.
While interest rates are by no means the only consideration when applying for a mortgage (other factors include fees, costs, features and purpose of the loan), they are often the starting point for borrowers to investigate which lender to submit an application through.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/april3grandview/heritage_bank_story.jpg" alt="heritage_bank_story" width="470" height="747">
Source: Heritage Bank from University of New England study
The study was carried out by professor Abbas Valadkhani from the University of New England, who found that on average building societies offered the cheapest home loan rates (7.15%) followed by Australian banks (7.25%) and then foreign-owned banks (7.35%).
The next best behind Heritage Bank were the Newcastle Permanent Building Society, Hume Building Society, Greater Building Society and Adelaide Bank.
The average across the 23 lenders was 7.24%.
The cheapest of the major banks over the 12 year period was NAB ranked 11th (7.25%) and Westpac the most expensive, ranking 21st (7.34%)
Australia’s biggest mortgage lender the Commonwealth ranked 14th and ANZ, 17th. Heritage Bank CEO John Minz said he was delighted but not surprised that the study had identified Heritage as offering the lowest overall rate. "Heritage is all about providing our customers with the best value we can," he said. "As a customer-owned bank, we put people ahead of profits, and the results of this study clearly demonstrate that we are delivering on our promise of maximising value for our customers. "We are extremely proud that we have come out on top of this comparison, particularly as it spans a 12-year period. That is ample evidence of our long-term commitment to the financial well-being of customers." 
</body></html>

Heritage Bank tops list of cheapest mortgage providers over past 12 years

<html><body>
The number of owner-occupier home loan commitments in April lifted by just 0.8% to 48,475 mortgages  (up 6.9% over the past 12 months) with little improvement in first-home buyer participation, according to the latest ABS housing finance figures.
While mortgage broker Loan Market notes this was the highest monthly uptake of home loans since November 2009 and the fifth consecutive month of growth for the "struggling sector" it was significantly below the median forecast of a 2% rise in seasonally-adjusted dwelling commitments to owner occupiers in April based on the views of 26 economists polled by Bloomberg last week.
Westpac's economics team called the latest monthly figures "underwhelming" noting that "although approvals remain broadly consistent with a housing recovery, the strength of the upturn remains disappointing given the low level of interest rates".
"The detail showed loans excluding refinancing were down 0.7% in April although they are stronger in through the year growth terms (up 11.5% for the year vs 6.9% annual growth for total lending).
"Looking by state, NSW, SA and WA continue to lead the recovery with approvals (excluding refinancing) posting strong double-digit annual growth.
"Victoria and Queensland are the laggards with both recording declines in approvals (excluding refinancing) in April," says Westpac.
In value terms, loans to owner occupiers fell 0.9% to $14.6 billion while investment housing fixed loans rose 1.1% in value terms to $8.14 billion - indicating stronger demand for housing from property investors over owner occupiers
<img height="205" width="313" src="/images/stories/april3grandview/dwellings_financed.jpg" alt="dwellings_financed">
The small rise in owner-occupier lending April was driven by demand for establshed homes over new homes.
ABS recorded a 1% rise in loans for established home purchases.
Loans for the construction of new homes lifted just 0.2% while loans for the purchase of new dwellings fell 0.4%.
"Construction-related loan approvals - both loans for construction and for the purchase of newly built dwellings - have been even stronger over the last year and although approvals in this segment were also soft in April, through the year growth is robust at 17.9%," says Westpac.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 14.3% in April 2013 from 14.2% in March 2013.
"First-home buyers remain the stand out weakspot in the approvals data - we estimate loans to this segment were up 0.7% (seasonally adjusted) in April but are still down 10.8% annually and at very low levels by historical standards, particularly in NSW and Queensland," says Westpac.
Between April 2013 and March 2013, the average loan size for first home buyers fell $2,000 to $289,200. The average loan size for all owner occupied housing commitments rose $700 to $301,800 for the same period.
Owner occupied housing commitments trended up strongest in NSW  (up 279, 2.1%), Western Australia (up 130, 1.8%), Queensland (up 71, 0.8%), Victoria (up 71, 0.6%), South Australia (up 64, 2.0%), the Australian Capital Territory (up 15, 2.0%) and Tasmania (up 1, 0.1%), while a fall was recorded in the Northern Territory (down 10, 2.7%).
The seasonally adjusted estimates rose in South Australia (up 238, 7.6%), Western Australia (up 219, 3.0%), New South Wales (up 209, 1.5%), Queensland (up 116, 1.3%) and Tasmania (up 5, 0.7%), while falls were recorded in Victoria (down 579, 4.4%), the Australian Capital Territory (down 19, 2.5%) and the Northern Territory (down 3, 1.0%). 
</body></html>

Mortgage lending limps to 0.8% rise in April as FHBs remain on sidelines: ABS

<html><body>
The Commonwealth Bank offers the most generous mortgage discounts for borrowers who take out loans greater than $750,000 among the four major banks.
This has been revealed in research carried out by financial comparison website <a target="_blank" href="https://ratecity.com.au/">RateCity.com.au</a> ,  which confirms that borrowers who take on a bigger mortgage are being offered cheaper home loans, while many smaller mortgage borrowers are forced to pay higher interest rates.
The major four banks – ANZ, Commonwealth Bank, NAB and Westpac – all offer cheaper deals for bigger mortgages.
The Commonwealth Bank has the biggest spread, with 0.35 percentage points lower advertised variable rates for a home loan above $750,000 compared to a home loan below $250,000. 
<div align="center">
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td style="text-align: left;" width="154">
Bank
</td>
<td style="text-align: left;" width="154">
Advertised variable rate for loans under $250,000
</td>
<td style="text-align: left;" width="154">
Advertised variable rate for loans above $750,000
</td>
<td style="text-align: left;" width="154">
Difference (percentage points)
</td>
</tr>
<tr>
<td style="text-align: left;" width="154">
ANZ
</td>
<td style="text-align: left;" width="154">
5.63%
</td>
<td style="text-align: left;" width="154">
5.43%
</td>
<td style="text-align: left;" width="154">
+0.20%
</td>
</tr>
<tr>
<td style="text-align: left;" width="154">
Commonwealth Bank
</td>
<td style="text-align: left;" width="154">
5.65%
</td>
<td style="text-align: left;" width="154">
5.30%
</td>
<td style="text-align: left;" width="154">
+0.35%
</td>
</tr>
<tr align="left">
<td style="text-align: left;" width="154">
NAB
</td>
<td style="text-align: left;" width="154">
5.53%
</td>
<td style="text-align: left;" width="154">
5.28%
</td>
<td style="text-align: left;" width="154">
+0.25%
</td>
</tr>
<tr>
<td width="154">
Westpac
</td>
<td width="154">
5.56%
</td>
<td width="154">
5.26%
</td>
<td width="154">
+0.30%
</td>
</tr>
</tbody></table>
</div>
Source: RateCity.com.au
Across the RateCity.com.au database, affluent customers, (borrowers who can afford a substantial mortgage such as more than $750,000) receive an average variable home loan rate of 5.32%, out of more than 100 lenders in RateCity’s database.
This is 0.42 percentage points lower than the average variable home loan rate for loans below $250,000.
<div align="center">
<table style="width: 50%;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="49%">
Home loan size
</td>
<td width="50%">
Average advertised variable rate
</td>
</tr>
<tr>
<td width="49%">
Above $750,000
</td>
<td width="50%">
5.32%
</td>
</tr>
<tr>
<td width="49%">
Below $250,000
</td>
<td width="50%">
5.74%
</td>
</tr>
<tr>
<td width="49%">
Difference (percentage points
</td>
<td width="50%">
+0.42%
</td>
</tr>
</tbody></table>
</div>
Source: RateCity.com.au
According to RateCity spokesperson Michelle Hutchison, lenders have a greater financial gain from borrowers taking on more debt.
“It comes down to the fact that bigger home loans are worth more money to lenders so they will make larger loan sizes more attractive by offering cheaper rates.
“Just as if you were to visit a supermarket to buy a bottle of soft drink, the bigger the bottle you purchase the less you pay per litre. In much the same way, a lender is willing to accept a lower rate per dollar when selling a larger amount of money.
“But just like a bottle of soft drink, bigger isn’t always better when it comes to borrowing and you shouldn’t take on more debt just to get a discount.”
</body></html>

Commonwealth Bank leads big banks offering biggest discounts for big mortgages: RateCity

<html><body>
Two economists – Westpac’s Bill Evans and Macquarie’s Richard Gibbs – predict the cash rate will fall by a further 75 basis points to settle at 2% over 2014.
The forecasts, contained in the latest Bloomberg survey of 26 economists, stand out sharply.
Evans, the first economist to tip the RBA to begin cutting rates in November 2011 has consistently argued that the cash rate will fall to 2%.
Evans tips a 25 basis point rate cut in August followed by another one in the final quarter of the year and one in the first quarter of 2014.
“The Reserve Bank has retained an easing bias, but it is not an urgent one," said Evans following the June decision to leave rates on hold.
“The path of easing from here will depend on developments in demand; the financial markets (the Australian dollar, as it jointly impacts demand and inflation) and the inflation story itself,” he says.
Richard Gibbs was <a href="/news">one of eight economists</a> who correctly tipped the RBA to cut the cash rate in May, but his expectation of a follow-up rate cut in June did not eventuate.
He expects a rate cut in August and two more rate cuts in the final quarter of the year.
Both Gibbs and Evans forecast the cash rate to stay at 2% throughout 2014.
However neither economists tip a rate cut in July, joining 21 out of 26 economists polled by Bloomberg who expect the RBA to site on its hands until at least August.
The quarterly inflation update on July 27 (between the July and August monetary policy meetings) is expected to play a key role in guiding the RBA’s decision about whether to cut rates further as will the performance of the Australian dollar.
Australian Financial Review economics editor Alan Mitchell says the "sub-par" economic growth outlook could force the RBA to cut rates further, while also having the challenge of managing the "bumpy" transition away from mining investment to non-mining sectors of the economy amidst a falling Australian dollar.
Among those tipping a rate cut in July are Stephen Koukoulas, the Business Spectator columnist who tweeted yesterday that the RBA would resume cutting rates “soon” and would have regretted its decision not to cut the cash rate in June.
The outlook over the next 12 months is decidedly unclear based on the Bloomberg survey results.
Six economists see rates higher in a year’s time, four expect them to say them to stay the same, nine expect one more rate cut (2.5%),  four expect two more rate cuts (2.25%) and two expect three (2%).
</body></html>

Where to for the RBA cash rate? Bill Evans and Richard Gibbs see 2%

<html><body>
Australia's biggest mortgage lender the Commonwealth Bank has cut interest rates on new three-year fixed rate home loans to 4.99% per annum.
The new rate is available under its Wealth Package offering and is a 10 basis point discount on its previously advertised rate of 5.09%.
The rate requires a minimum loan amount of $150,000.
It is one of the lowest three-year fixed-rate offering of the four major banks.
ANZ also offers a 4.99% fixed-rate for three years under its Breakfree home loan package offering.
"Fixed rate home loans are currently popular amongst home buyers," says Clive van Horen, acting head of retail banking for the Commonwealth Bank.
“Our fixed rate home Loans are now at a 23-year low.
"We are increasingly seeing our customers choosing to fix all, or part of their home loans.” says van Horen.
A spokesperson for the bank added that the majority of customers fixing their rate are new customers, but there is also a significant number of existing customers choosing to fix.
<a href="/news">Click here for a guide to what the other major banks are offering fixed and variable mortgage customers.</a>
</body></html>

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News