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>
The Greater Building Society has cut its variable mortgage rates by 30 basis points - 5 basis points more than the official RBA rate cut announced on  Tuesday.
It is the only lender to date to have announced it is passing on more than the 25 basis points cut from the cash rate.
The Greater’s standard variable home loan rate will fall to 5.75% p.a (comparison rate of 5.81%) and its basic variable home loan rate will fall to 5.40% (comparison rate of 5.45%).
The Greater’s packaged loan rate will fall to 5.19% (comparison rate 5.75%). 
The Newcastle-based building society has 250,000 members across 66 branches in NSW, southeast Queensland and in Townsville.
It's probably most famous for <a target="_blank" href="https://www.youtube.com/watch?v=2YkAPkGkVrA">convincing Jerry Seinfeld</a> to appear in its advertising campaign a few years ago.
The new rates are effective from today for new customers and from May 15 for existing customers. 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="215" valign="top">
 
</td>
<td width="198" valign="top">
Standard variable loan
(comparison rate)
</td>
<td width="208" valign="top">
Basic variable home loan
(comparison rate)
</td>
</tr>
<tr>
<td width="215" valign="top">
Greater Building Society
</td>
<td width="198" valign="top">
5.75% (5.81%)
</td>
<td width="208" valign="top">
5.40% (5.45%)
</td>
</tr>
<tr>
<td width="215" valign="top">
National Australia Bank
</td>
<td width="198" valign="top">
6.13% (6.22%)
</td>
<td width="208" valign="top">
5.92% (5.92%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Commonwealth Bank
</td>
<td width="198" valign="top">
6.15% (6.29%)
</td>
<td width="208" valign="top">
5.69% (5.83%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Westpac
</td>
<td width="198" valign="top">
6.26% (6.39%)
</td>
<td width="208" valign="top">
5.61% (5.66%)
</td>
</tr>
</tbody></table>
Customers on a 25 year standard variable or basic home loan of $300,000 will see their monthly repayments reduce by $55. 
CEO Don Magin said that under the new rates, a person switching a 25 year, $300,000 standard variable home loan from Westpac to The Greater will save $58,200 in interest and be able to pay their loan off 7.5 years sooner.
</body></html>

lschlesinger-FZcF9M3vE6

Greater Building Society passes on 30 basis point rate cut to borrowers

<html><body>
NAB has picked up market share in the housing market while also reporting a rise in net interest margins on home loans and other personal banking products as it reported a $2.9 billion first-half interim profit for the six months to March 31.
The result was up 3% on the corresponding period last year and completes the major bank interim results reporting season after <a href="/news">ANZ </a>and <a href="/news">Westpac</a> both reported a 10% rise in interim profits for the six months to March last week.
The<a href="/news"> Commonwealth Bank </a>reported a 1% rise in its interim results to December 31 in February meaning the combined half-year profits of the big four banks is over $13 billion.
Commonwealth Bank, Westpac and NAB have all passed on the May rate cut in full with ANZ to make its announcement tomorrow.
NAB grew its home loan book by 5% over the reporting period from $139 billion to $147 billion.
Net interest margins in its personal banking division (mortgages, deposits, credit cards) increased by 15 basis points compared with the March 2012 corresponding period rising to 2.09%.
NAB’s share of the home loan market grew by 15% to 15.2% over the report period.
A year-and-half ago its share of the market was 14.5%.
There was a slight increase in mortgages more than 90 days in arrears up from 0.52% to 0.54% of total outstanding NAB mortgages.
Customer deposits picked up by 7.2% to reach $89 billion.
NAB CEO Cameron Clyne highlighted the “good result” in the personal banking division with further strengthening of the bank’s position in home lending and customer deposits on the back of its “differentiated customer proposition”.
He called it a “solid” March half-year result.
</body></html>

NAB grows mortgage market share as interim profits rise to $2.9 billion

<html><body>
Online mortgage lender loans.com.au is offering a variable home loan rate for new dwelling purchases of 4.75% after passing on the full RBA rate cut. 
The product is called a ‘Blackboard special” home loan, has a comparison rate of 4.77%, and is only available until May 20. 
Loans.com.au, the online arm of wholesale lender FirstMac, claims the 4.75% rate matches home loan rates in 1957. 
Loans.com.au is also offering a 4.87% refinancing rate (4.89% comparison rate) under its Dream Loan Express offer. 
Both products require a minimum 20% deposit.
It has also reduced its three-year fixed rate of 4.99% (4.91% comparison rate). 
Loans.com.au managing director Marie Mortimer said the new rates should make people consider whether they were paying too much for their home loans. 
“We have reduced home loan lending rates to the same levels as Australia in the late 1950s,” she said. 
She says many competitors had previously claimed to have broken the 5% barrier, only to be pushed back over 5% after comparison rates.
Comparison rates factor in fees and other costs into the home loan rate.
</body></html>

Loans.com.au offers 4.75% limited-time variable rate offer after passing on full rate cut

<html><body>
Aussie Home Loans will decrease its Aussie-branded variable rate home loans by 25 basis points in line with the Reserve Bank of Australia rate cut announced yesterday.
The changes will take effect on Wednesday May 15.
Customers will an average home loan of $300,000 could save $47 per month.
</body></html>

Aussie passes on full rate cut to borrowers

<html><body>
Westpac chief economist Bill Evans is tipping the cash rate to fall by 25 basis points to 2.5% in June and then to eventually bottom out at 2% by the first quarter of 2014.
Following the June rate cut, he expects two further rate cuts will be required in the December quarter of this year and March quarter of next year.
"That would see the cash rate bottom out at 2% from its current 2.75%. Having driven rates down to that level we expect rates to remain on hold through the remainder of 2014," he says.
Evans was the first major economist to correctly tip <a href="/news">the cash rate to fall to 2.75%.</a>
"There are ample precedents for a May/June move. Over the last 10 years the Bank has moved rates on four occasions in May with two of those occasions being followed up in June," says Evans in his latest market commentary. 
Evans expects that from June, the RBA will be "patient to assess the impact on domestic demand of the low rates".
"However by year's end it will become clear that further stimulus will be required to offset the impact of a softening world economy while the response to the low rates in the domestic economy will be disappointing," he says.
Evans says the really key new developments over the last few weeks have been "evidence of an even lower than expected trajectory for inflation and, as pointed out in this note, a Reserve Bank that is clearly open to further action". 
"Given this scenario we think that the most likely policy option is a follow up rate cut in June of 25 basis points which will be implemented for the same reasons as we have seen today complemented by further evidence of softening confidence and weak business investment. 
"We have also always argued that our assessment of the global economy is more subdued than the consensus. The IMF is expecting 4% world growth in 2014 – we are closer to 3%.
"For Australia's terms of trade, the peak to trough decline in the 2011–12 period was 17%, while we forecast a 2013–14 decline in the region of 10%. We have long maintained that from a world growth perspective, 2014 will feel like 2012," he says.
Furthermore, Evans says the "threat of a disruptive event in Europe remains ever present". 
"The US story does not convince us. We confidently expect that the US Federal Reserve will persist with its quantitative easing policy through most of 2014. 
"China has already begun the process of recalibrating its monetary and real estate policy settings and the support it received from the export sector in the first quarter is already receding.
"Indian domestic demand is flagging badly and the required policy support has not been adequate. Japan is something of a bright spot, but its gross acceleration will far exceed the net from a global growth perspective as it takes back market share," he says.  
"Our specific profile for the Australian dollar, which had incorporated a steady cash rate of 2.75% (with downside risks) and a softening world economy, saw the Australian dollar back at US$0.97 by June next year, partially due to a gradual narrowing of the overvaluation premium. 
"With our lower RBA rate profile there is some modest room for further moderation in the fair value of the Australian dollar with our June 2014 target being lowered to US$ 0.96. However, the key to a more significant fall in the Australian dollar is a more marked reduction in that over valuation premium – something that lies essentially outside the RBA's influence," he says.
</body></html>

Westpac tips June rate cut and cash rate to fall to 2% by March 2014

<html><body>
AMP Capital chief economist Shane Oliver is tipping the cash rate to fall to 2.5% noting that the housing market in particular has failed to respond to rate cuts in the manner it has done in previous easing cycles.
Figures compiled by Oliver show that house prices, building approvals, retail sales and employment growth have responded in a "modest" manner to the current easing cycle 18 months on from the first rate cut in November 2011 in comparison with much swifter responses to previous easing cycles  in 1996, 2001 and 2008 over the same time frame.
As the table below shows, home prices are currently up just 1.9% since November 2011.
This compares with an 18% increase in house prices 18 months after the RBA cut the cash rate by 50 basis points in July 1996.
They were up 30% a year-and-a-half after the start of 2001 easing cycle and 11% a year-and-a-half after the big GFC easing cycle started in September 2008.
Key variables, 18 months into rate cutting cycles
<table width="347" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="111" valign="top">
Variable
</td>
<td width="47" valign="top">
July 1996
</td>
<td width="47" valign="top">
Feb 2001
</td>
<td width="47" valign="top">
Sept 2008
</td>
<td width="47" valign="top">
Avg
</td>
<td width="47" valign="top">
Latest
</td>
</tr>
<tr>
<td width="111" valign="top">
NAB biz confidence,
index level
</td>
<td width="47" valign="top">
+5.7
</td>
<td width="47" valign="top">
+12.6
</td>
<td width="47" valign="top">
+16
</td>
<td width="47" valign="top">
+11.4
</td>
<td width="47" valign="top">
+2
</td>
</tr>
<tr>
<td width="111" valign="top">
Consumer conf, index level
</td>
<td width="47" valign="top">
101.7
</td>
<td width="47" valign="top">
105.6
</td>
<td width="47" valign="top">
117.3
</td>
<td width="47" valign="top">
108.2
</td>
<td width="47" valign="top">
104.9
</td>
</tr>
<tr>
<td width="111" valign="top">
Retail sales, % gain since first cut
</td>
<td width="47" valign="top">
+5%
</td>
<td width="47" valign="top">
+9.8%
</td>
<td width="47" valign="top">
+8.4%
</td>
<td width="47" valign="top">
+7.7%
</td>
<td width="47" valign="top">
+4.5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Home approvals, % gain since first cut
</td>
<td width="47" valign="top">
+18%
</td>
<td width="47" valign="top">
+60%
</td>
<td width="47" valign="top">
+35%
</td>
<td width="47" valign="top">
+38%
</td>
<td width="47" valign="top">
+5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Auction clear rate, % – Syd, 4 wk avg
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
70.6%
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
73.6%
</td>
</tr>
<tr>
<td width="111" valign="top">
Auction clear rate, % – Melb, 4 wk avg
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
78.7%
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
68.9%
</td>
</tr>
<tr>
<td width="111" valign="top">
Home prices, % gain since first cut
</td>
<td width="47" valign="top">
+13%
</td>
<td width="47" valign="top">
+30%
</td>
<td width="47" valign="top">
+11%
</td>
<td width="47" valign="top">
+18%
</td>
<td width="47" valign="top">
+1.9%
</td>
</tr>
<tr>
<td width="111" valign="top">
Employment, % gain since first cut
</td>
<td width="47" valign="top">
+2.1%
</td>
<td width="47" valign="top">
+2.4%
</td>
<td width="47" valign="top">
+1.5%
</td>
<td width="47" valign="top">
+2.0%
</td>
<td width="47" valign="top">
+1.5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Private credit, % gain since first cut
</td>
<td width="47" valign="top">
+14%
</td>
<td width="47" valign="top">
+16%
</td>
<td width="47" valign="top">
+2.5%
</td>
<td width="47" valign="top">
+11%
</td>
<td width="47" valign="top">
+4.5%
</td>
</tr>
</tbody></table>
Source: NAB; Westpac/Melbourne Institute; ABS; Australian Property Monitors; RP Data/Rismark, RBA, AMP Capital 
“The basic issue in Australia is that the slowdown in mining investment growth is now looming and we need to see a pick-up in non-mining activity to fill the gap in terms of the contribution to GDP growth,” says Oliver. 
“While this was never expected to occur smoothly, the evidence to date points in the direction of non-mining activity not picking up quickly enough.
To be sure interest rate cuts have got some traction: the home buyer market has improved with increased sales, auction clearances and house prices, consumer confidence is up and retail sales are up. 
“But the response has been tentative and weak. 
“Apart from auction clearance rates, which look solid, all of these indicators are currently below the average level they attained this far into past easing cycles. 
“Importantly, he points out that while consumer confidence has picked up, business confidence remains subdued. 
“Retail sales picked up in January and February but the level of sales is still well below where it would normally be this far into an easing.
“It’s the same story with dwelling approvals which are off their lows but haven’t seen the average 38% gain they would have normally seen by now. 
“Employment growth is also lagging,” he says.
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Cash rate to fall to 2.5% as housing and other non-mining sectors fail to pick-up “quickly enough”: Shane Oliver

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The Bank of Melbourne has cut its standard variable home loan rate by 0.25% to 6.15% per annum, effective from May 17.
Customers have taken to the bank’s <a href="https://www.facebook.com/BankofMelbourne" target="_blank">Facebook</a> page looking for answers as to why the new rate won’t be effective immediately, but are failing to secure any answers.
The Bank of Melbourne’s current standard variable home loan rate is 6.40% per annum.
A $300,000 loan from the Bank of Melbourne with the new interest rate will see a monthly repayment of $1,960 – a monthly saving of $46 compared to the previous rate.
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Bank of Melbourne cuts interest rate by 0.25%

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Westpac chief economist Bill Evans got the timing of yesterday's cash rate cut wrong – tipping June instead of May – but believes a “further move could still possible”.
Evans, the first major bank economist to correctly tip the RBA to begin its easing cycle in November 2011, was also the first to forecast that the cash rate would fall to 2.75%, doing so <a target="_blank" href="https://www.propertyobserver.com.au/news/rba-to-cut-rates-by-25-basis-points-next-week-with-three-more-to-come-taking-cash-rate-to-reach-275-by-year-end-westpac/2012053154924">back in May last year.</a>
“The overnight cash rate has now reached 2.75% which was the target we nominated in May last year when the consensus view was that rates would bottom out at 3.25 to 3.5%," said Evans in a note following the RBA's decision yesterday to cut the cash rate. “We have been reluctant to moderate that target although have argued consistently that the risks have been to the downside and have intensified over the last month. In light of yesterday's decision we are currently evaluating the outlook," he says.
"We have consistently argued that 2.75% would be the low point but that risks are to the downside for the cash rate. We are currently assessing that outlook," he says.
The bank is tipping the cash rate to fall again by 25 basis points to 2.5% in June and then to eventually bottom out at 2% by the first quarter of 2014.
Evans says the governor’s statement indicates further easing may be on the cards.
“[Yesterday’s] statement by the governor points out that a further move is possible.
“The final paragraph of the statement makes the following point:
'The Board has previously noted that the inflation outlook would afford scope to ease further, should that be necessary to support demand. At today's meeting the Board decided to use some of that scope. It judged that a further decline in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target.'
Evan said it was also significant that the Governor did not choose to use the term: 'The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target over time.' Evans has argued since May last year that a drop in the cash rate to 2.75% would not result in bank variable rates at equal record lows, given that previous rate cuts have not been passed on in full, while there has also been small increases in variable mortgage rates outside of an official RBA increase.
Evans highlighted this point again in his commentary following yesterday’s decision.
“It is significant that while the cash rate has now been reduced to 2.75%, below the 2009 lows, borrowing rates are described as "approaching previous lows".
“This is somewhat of an overstatement given that official RBA statistics nominate the low point on the standard variable rate at 5.75% in May 2009 compared to 6.45% before today's decision," he says.
He adds that headline mortgage rates are "complicated by special discounts which banks consistently offer” similar to a point made by <a target="_blank" href="/news">Commonwealth Bank CEO Ian Narev</a> in February, when he said that no borrower paid the bank’s standard variable rate -  every borrower’s rate is set relative to this benchmark rate.
Were ANZ to pass on 25 basis points on Friday as the three other major banks have done already, the average standard variable rate of the big four would be 6.17% - still someway off the May 2009 record low.
Evans says the argument for the RBA to consider a further rate cut are contained in the post-decision statement.
"The description of the domestic economy has taken a step down from previous statements. Growth in the second half of 2012 is now described as 'a bit below trend' and 2013 to date is described similarly," he says.
"Employment is assessed as not being strong enough to absorb the labour force explaining the rise in the unemployment rate and probably indicating further increases in the future.The peak in mining investment is assessed as being in 2013 while the demand for credit remains relatively subdued.
"On the positive side, consumption is described as 'strengthening' and there are prospects for some increase in non-mining investment. The description of the all important housing market is fairly downbeat with dwelling investment described as 'modest firming' and asset values 'have risen'. "Of course the recent unexpectedly low print on inflation is assessed as 'a little lower than expected' while labour costs have moderated slightly and productivity growth appears to be improving. "Finally the governor once again points out the unusual elevated level of the exchange rate given that export prices and interest rates have fallen markedly over the last 18 months with the exchange rate remaining relatively steady," Evans says. 
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Scope for more rate cuts says Westpac’s Bill Evans, the first to tip a 2.75% cash rate

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Suncorp Bank has followed the RBA’s interest rate decision and cut it’s variable home loan interest rates by 0.25% per annum to 6.24%, effective May 24 2013.
Suncorp Bank chief executive officer David Foster said Suncorp followed the RBA’s decision to cut the official interest rate to encourage sustainable growth in the economy.
“This rate cut will provide some welcome relief for home owners and small businesses, with the retail sector also likely to benefit from any boost in consumer and business confidence,” says Foster.
Suncorp Bank’s standard variable home loan is currently 6.39% per annum.
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Suncorp Bank reduces rates by 0.25% pa

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Westpac has joined the Commonwealth Bank and NAB by passing on the full rate cut to its borrowers, though they will have to wait a week longer for lower monthly repayments.
The bank's headline standard variable mortgage will be cut by 0.25% to 6.26% effective on May 20.
Both the Commonwealth Bank and NAB will pass on their full rate cuts on May 13.
The decision by three of the big four to pass on rate cut in full mean there has been no change in the rankings from lowest to highest standard variable rates, excluding ANZ, which only announces its decision on the second friday of the month, May 10.
Were ANZ to pass on 25 basis points to borrowers, its standard variable rate would be 6.15% meaning:
<ul>
<li>NAB - 6.13% standard variable rate (May 13)</li>
<li>CBA - 6.15% standard variable rate (May 13)</li>
<li>ANZ - 6.15% likely standard variable rate (announcement on May 10)</li>
<li>Westpac - 6.26% standard variable rate (May 20)</li>
</ul>
Westpac package home loan customers who receive a minimum 0.7% package discount on the headline standard variable mortgage will see their new effective rate fall to 5.56% per annum.
The reduction in home loan rates will save homeowners $48 a month or $576 a year in total monthly repayments on an average mortgage of $300,000.
“With headline mortgage rates now at their lowest level for three and a half years, we know this reduction is the kind of incentive our customers are looking for to make the most of the opportunities available in the housing market," says Jason Yetton, group executive of Westpac retail and business banking.
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