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>
It’s time for the Real Estate Institute of Australia to stop carping about interest rates.
Before every <a target="_blank" href="/news">Reserve Bank board meeting</a>, the REIA shovels out its standard media release, depicting teeming millions of little Aussie battlers desperate for the RBA to throw them a bone.
After each RBA decision to leave things on hold comes the mandatory “first-home-buyers-cruelly-let-down-by-heartless-bureaucrats” release.
This week’s effort opined the “dwindling hopes” of home buyers whose pleas for more rate cuts have been shunned by Glenn Stevens and his mates.
There are several points the REIA boffins don’t get:
<ul>
<li>
Interest rates are already at historically low levels.
</li>
<li>
We have probably had the last cut in the current cycle, so get used to it.
</li>
<li>
The major lenders take little notice of the official interest rate anyway, so the REIA should be harassing them to cut, not the RBA board.
</li>
<li>
The RBA board has a lot more to consider in its decisions than the real estate market, although agents tend to think property is the only factor.
</li>
<li>
The link that the REIA appears to see between lower interest rates and rising markets does not exist.
</li>
<li>
There’s more to real estate markets than first-home buyers – a lot more.
</li>
<li>
We have had eight consecutive quarters of improving affordability, markets are now rising and this is as good as it gets, so give it a rest.
</li>
</ul>
In this week’s “please-help-us-we’re-desperate” press release, REIA president Peter Bushby says that “declining interest rates have been the major contributor to an improvement in housing affordability”.  
I’m not sure that’s true. Lower rates have been a contributor, but equally the decline in prices in 2011 and part of 2012, and the steady rise in average incomes (up about 5% last year) have been just as important in the affordability equation.
Nor are decreasing interest rates the prime catalyst for igniting real estate markets, a myth much cherished by real estate agents. There’s plenty of research, including a recent study by BIS-Shrapnel, showing there is little evidence that interest rate movements and home prices run hand in hand.
The obsession the <a target="_blank" href="/?option=com_googlesearch_cse&amp;q=REIA">REIA</a> has with first-home buyers needs adjusting as well. First-time buyers are never, not even at their peak (such as in 2009), a major part in the market. The greatest single force in residential markets is the next-time buyer – i.e. home buyers other than first-home buyers. At any point in time, they comprise the bulk of the market.
The other significant players ignored by agents are investors. Right now, investors are rising, currently comprising about 35% of buyers nationwide.  
Most agents miss this market because they focus all their attention and marketing on home-buyers. Just look at the typical agency house-for-sale advertisement and notice how irrelevant it is to investor buyers.
Right now, real estate agencies have it better than any time in the past three years. They and their institutes should be putting their energies into taking advantage.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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terryryder-YECXbqmri2

REIA should stop complaining about interest rates: Terry Ryder

<html><body>
The biggest 'sleeper' issue in Australian taxation is capital gains tax. Capital gains tax (CGT) has been around for over 25 years now but it continues to bedevil SMEs (and others).
As time goes on, more and more assets will fall into the CGT net. We may not have a death duty in the strict sense, but wealth and asset transfers by an ageing population will cause CGT to become an issue for many.
Among other things, the tax law provides a range of concessions to reduce, eliminate or roll over a capital gain made on a CGT asset that has been used in a small business. These concessions are as follows:
<ul>
<li>The 15-year exemption – an individual small business taxpayer is entitled to a full exemption from CGT, for example, the sale of an asset that is subject to CGT, where the asset has been continuously held for 15 years, the taxpayer is at least 55-years-old, and the sale of the asset occurs in connection with the retirement of the taxpayer. The 15-year exemption has priority over the other small business CGT concessions.</li>
<li>50% concession – a capital gain on an “active asset” (ie. an asset used in carrying on the business) used in the business can be reduced by 50% if certain conditions are met.</li>
<li>Retirement exemption – basically, a taxpayer can elect to disregard a capital gain on the sale of a business asset up to a lifetime limit of $500,000. If the taxpayer is under 55 at the time of choosing to apply this concession, the amount of the gain must be rolled over to a complying super fund or retirement savings account within the specified time limits. If the taxpayer was 55-years or over, the gain can be taken tax-free. This exemption cannot be used if the 15-year exemption applies.</li>
<li>Rollover for replacement assets – in essence, where assets are sold and replaced by new assets, any capital gain on the sale of the old assets can be ignored up to the value of the replacement asset. </li>
</ul>
As usual, and as expected, there are numerous hoops (i.e., basic conditions) that need to be jumped through before access can be gained to these concessions.
There are two basic conditions that must be met for a capital gain made by a business to qualify for the small business concessions:
(1)  The business must satisfy either (a) the "maximum net asset value" test, or (b) the "small business entity" test, or (c) be a partner in a partnership that is a "small business entity" where the CGT asset is an interest in an asset of the partnership.
(2)  The CGT asset that gives rise to the gain must be an "active asset" that is, an asset used in carrying on the business.
It is the maximum net asset value test I will look at in this column. In general, under the maximum net asset value test, in order to access the concessions, the net value of all the CGT assets of the business must not exceed $6 million (it used to be $5 million some years ago).
A recent case before the Administrative Appeals Tribunal (AAT) highlighted the difficulties that can arise in meeting this test.
As might be expected, meeting this basic test requires obtaining valuations of assets, and that's where difficulties can arise.
 
<hr class="system-pagebreak">
In the AAT case, a company owned three properties. During the 2005 income year, a "CGT event" happened in relation to the company when it disposed of a property it owned. The company claimed small business relief from capital gains tax on the basis that it satisfied the then $5 million maximum net asset value test. However, the valuation of the property concerned ultimately caused the business to fail that test.
Unless the company's valuation was accepted in each case, the net value of all relevant CGT assets would exceed the $5 million limit and the CGT relief claimed would not be available. In the end, the company's valuations were not accepted.
The matter turned on the valuation by the business' valuer and the Commissioner's valuer of one industrial and two residential blocks of units owned by related entities. The three properties were all located in the Illawarra area. One was an industrial site in Albion Park and the other two properties were residential sites, each of them containing a block of residential home units.
The AAT said valuation was not an exact science – a true but unfortunate statement given the importance of valuations in so many tax matters. In this case, the valuers used three valuation methodologies:
Direct comparison – where reasonably contemporaneous sales of other properties are used to estimate the value of the subject property.
Capitalisation – where the value of a property is derived by dividing the presumed rental income achievable, by a “capitalisation rate”. For example, a capitalisation rate of 5% represents an expectation that the value of the property would be recovered over 20 years. If the income capable of being generated is $100,000 per annum, then the estimated value of the property would be $2 million ($100,000 multiplied by 20).
Summation – where the estimated value of the land is added to the estimated value of the improvements on it, to produce an estimated value of the property as a whole.
The AAT preferred the Commissioner's valuation, and found that the taxpayer's valuations were not reasonable in the circumstances, despite concerns with various aspects of the Commissioner's valuations (for example, assumptions made by the valuer).
Among other things, the AAT found the following problems with the approach adopted by the taxpayer's valuer:
<ul>
<li>the lack of suitability of the comparison properties selected;</li>
<li>the lack of evidence of recent sales for the direct comparison method;</li>
<li>the use of estimates of income-generating potential for one of the properties rather than actual figures that were available;</li>
<li>the application of the comparable sales method was not transparent; and</li>
<li>failure to explain why he used a particular value per square metre for the land of one of the properties.</li>
</ul>
Accordingly, the AAT concluded that the valuations relied on by the company were not reasonable. The difference between the valuations by the Commissioner and the company was over $650,000.
In tax law, the taxpayer bears the burden of proving that the Tax Commissioner's assessments were excessive, and in cases where valuations were at issue, a taxpayer could not do this by simply proving that the valuations relied on by the Commissioner were wrong. Rather, the AAT said a taxpayer must positively establish that its own valuations are right, or at least more reasonable than the Commissioner's valuations.
This case is a useful reminder to SMEs about the importance of obtaining accurate and supportable valuations of assets where the CGT small business concessions are being sought.
Terry Hayes is the senior tax writer at <a href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions .
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
Image courtesy of Flickr.
 
</body></html>

thayes-XhNcNKLNWa

Understanding capital gains tax: Terry Hayes

<html><body>
<div>Glenn Stevens will lead the RBA for a further three years until 2016.</div>
<div></div>
<div>The extension of his term as governor of the Reserve Bank was announced today by Australian treasurer Wayne Swan.</div>
<div></div>
<div>His current appointment was due to expire on September 17 this year.</div>
<div>
 Stevens has been governor of the RBA since September 2006, helping to steer the country through the GFC following deep cuts to interest rates in late 2008 and early 2009.</div>
<div></div>
<div>ANZ economist Katie Deans notes that the early re-appointment avoids the appointment from becoming a potential political issue. Stevens's current term was due to expire three days after the Federal election. 
</div>
"The short term of three years - usually appointments are made for seven years - probably reflects a succession plan to the next governor.
"The likely successor to Glenn Stevens, deputy governor Philip Lowe, was only appointed to his current role last year (February 2012), so was probably viewed as needing more time in that role before being promoted to governor.  The shorter term mirrors the final appointment of the previous governor Ian Macfarlane, before he passed the governorship to Stevens," she says. 
"Given the relative resilience of the Australian economy under Stevens's stewardship, his reappointment should be seen as favourable by markets.  And what appears to now be a clear internal succession plan at the RBA introduces further certainty to Australian the monetary policy process."
The Treasurer also announced the appointment of Kathryn Fagg to the RBA Board for a five-year term (commencing 7 May 2013), replacing Woolworths director Jillian Broadbent. 
Fagg has worked across the resources, transport and finance industries.
</body></html>

lschlesinger-FZcF9M3vE6

Glenn Stevens re-appointed RBA governor until 2016 

<html><body>
Standard &amp; Poor’s has cut the credit rating of Adelaide-based debenture-issuer Angas Securities from ‘B+’ to ‘B’ and placed it on a credit watch with a negative outlook.
A rating of ‘B’ indicates the company has the capacity to meet its financial commitments but that “adverse business, financial, or economic conditions will likely impair the obligor's capacity or willingness to meet its financial commitments”.
The downgrade follows S&amp;P's revision of its outlook for Angas from stable to negative in April last year.
<a href="/news">In January this year</a>, Property Observer reported that Angas Securities revealed that a third of its loans were in arrears, with around $33 million of these loans more than a year in arrears.
Angas has raised $300 million from around 2,500 small investors who have invested in Angas Securities' debenture fund, which offers returns from 7.5% to 9% and principally lends the money on at high interest rates as commercial property loans.
S&amp;P noted last year that Angas had a “sizeable portfolio of non-performing assets includes some large exposures when assessed against the company's modest capital base”.
Angas Securities and its dozens of debenture funds are listed on the small cap National Stock Exchange.
In an investor newsletter published last month, Angas said the Standard &amp; Poor’s credit rating “is an objective, independent opinion of the willingness and capacity of Angas to meet its financial commitments in full and on time”.
In its most recent financial update following the release of poor interim results, Angas executive chairman Andrew Luckhurst-Smith says “the entire debenture funded commercial lending sector was facing significant scrutiny in the wake of two provincial companies entering receivership during the period”.
Debenture funds that have collapsed over the past year include Sydney-based Provident Capital, Brisbane-based Wickham Securities, regional Victorian-based Banksia and <a href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Gold Coast-based LM Investment Management</a>, which had its first creditors meeting yesterday.
Luckhurst-Smith added that “both were unlisted and un-rated issuers so were not directly comparable to companies such as Angas”.
Angas Securities posted a 34% drop in profit (before tax and dividends) of $1.019 million for the six months to December 30, 2012 on higher revenues (up 19%) of $20.839 million.
The financial report shows loans totalling $238 million on the balance sheet up from $179 million in the previous corresponding six-month period.
The company also holds $33 million worth of investment property and $27 million in cash.
Luckhurst-Smith said profits were lower on the year before due largely to expenses involved in the recovery of loans and the management of several impaired loans.
He also reported that the fund had finalised negotiations for the structured sale of Fernhill, a grand residential property near Penrith, on the outskirts of Sydney, which is being transformed into 88 residential allotments and a major tourism venue, expected to generate in excess of $50 million.
</body></html>

S&P cuts credit rating of Adelaide debenture issuer Angas Securities

<html><body>
While most agree with the RBA's decision to leave interest rates on hold in April, talk in some circles of the next rate movement being upward fails to account for the fact that consumers are still not spending.
A quick glance into retailers’ windows tells an interesting story.
Ever since interest rates began a downward movement in the cycle, there has been speculation as to when they may begin rising again.
Some economists are even suggesting the next movement may even be up. But on the ground, the case for a near-term increase in rates is unfounded. Retailers are still doing it tough and there is heavy discounting occurring across the retail sector.
Some retailers are discounting winter stock before the winter selling season has even begun.
In terms of positive sentiment among consumers, retail is the obvious barometer and from the perspective of most retailers, any supposed increase in sentiment is yet to flow through to sales.
From a housing perspective, transactional activity is ticking along with encouraging, if unspectacular, results occurring.
However, any recovery in the market to date can only be described as slight, and gentle fiscal policy is required if any recovery is to be maintained.
The market is heading into the traditionally more subdued winter selling period and as such we believe the next movement in rates should be downward to support the market during this time.
Leanne Pilkington is general manager of<a title="Laing + Simmons" href="https://www.laingsimmons.com.au/" target="_blank" rel="nofollow"> Laing + Simmons</a>
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lpilkington-GWhcD9raad

The next rate move should be downward: Leanne Pilkington

<html><body>
The Reserve bank has left the door open to further rate cuts if needed.
"The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand," said RBA governor Glenn Stevens as part of his monetary policy decision statement.
"At today's meeting, the Board judged that it was prudent to leave the cash rate unchanged. 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."
Much will depend on the performance of Australian dollar and the non-mining sectors of the economy:
"While the near-term outlook for investment outside the resources sector is relatively subdued, a modest increase is likely to begin over the next year," he said.
Further on Stevens said:
"There are a number of indications that the substantial easing of monetary policy during late 2011 and 2012 is having an expansionary effect on the economy.
"Further such effects can be expected to emerge over time. On the other hand, the exchange rate, which has risen recently, remains higher than might have been expected, given the observed decline in export prices. The demand for credit has also remained low thus far, as some households and firms continue to seek lower debt levels," he said.
<a target="_blank" href="/news">Economists polled by Bloomberg</a> don't expect another rate cut until June at the earliest.
</body></html>

"Scope" for further rate cuts if needed: RBA

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With the prospect of securing fixed rate offerings below 5%, one in three new home loan borrowers who used an AFG mortgage broker fixed their rate in March. 
The AFG Mortgage Index, published today, shows that 29.6% of all new home loans were fixed, compared with 24.1% in February and 16.3% in January. 
The March figure is the highest proportion ever recorded by <a href="/news">AFG</a>, which bills itself as Australia's largest mortgage broker. 
AFG also recorded its best March on record processing $3.18 billion of home loans, 8.6% higher than in March 2012, and beating its previous record month of March 2009, when it processed $3.15 billion. 
“We have seen an unprecedented surge of borrowers wanting to lock in rates. With many commentators believing the interest rate cycle is at the bottom, borrowers have responded by fixing rates of less than 5% that have been widely on offer,” said Mark Hewitt, general manager of sales and operations at AFG. 
“These rates are very low by historic standards and it makes sense to lock them in while they are still available.” 
AFG’s mortgage sales growth was largely driven by first-home buyers in WA and investors in NSW. 
The AFG Mortgage Index shows the continuing weakness of first-home buying activity in NSW, where only 4% of new borrowers are <a href="/news">first-home buyers</a>, and Queensland, where just 5.1% of new borrowers were first-home buyers. 
These figures compare with 15.3% for SA, 18.3% for Victoria and 22.9% in WA.
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A record one in three borrowers fixed their home loan in March: AFG

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As expected, the Reserve Bank has left the cash rate unchanged at 3% following its monthly monetary policy meeting today.
All 28 economists polled by Bloomberg ahead of the Easter long weekend tipped the cash rate to remain unchanged.
This is the third straight meeting the RBA has left the benchmark interest rate unchanged and at its lowest setting since the GFC.
“The latest <a href="/news">housing market indices from RP Data and Rismark International,</a> which showed another rise in dwelling values across the capital cities in March, would have provided further reassurance to the Reserve Bank that the previous rate cuts are taking affect,” commented RP Data national research director Tim Lawless.
“Based on RP Data's index to the end of March, capital city dwelling values have risen by 4.7% since bottoming out in May last year, with every capital city housing market recording a rise in home values.
“Rents and investor yields are also rising, as are transaction volumes.  Pretty much every market indicator is pointing to a further recovery in the housing market; clearance rates are higher, homes are selling faster and vendors are discounting their prices by less.
“The broad based recovery in housing market conditions, together with the strong labour market data for February, high consumer confidence and an improving share market, are all factors that are likely to keep interest rates at their current setting,” says Lawless.
With no rate change in five months (December 2012), Alex Parsons, CEO of financial comparison website RateCity.com.au, said this could signal the end of the interest rate downward cycle.
“While we are still seeing some fixed home loan rates falling, their descent has slowed significantly, which could also be a sign of lenders expecting funding pressure to stabilise or lift in the near future.
“For instance, the average three-year fixed rate fell by 0.56 percentage points in the six months to October 2012, and in the past six months it fell by 0.36 percentage points, according to RateCity’s database of more than 100 lenders,” Parson said.
“Since the Reserve Bank began lowering the cash rate in November 2011, borrowers with a typical $300,000 mortgage are paying $266 less in monthly repayments.”
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RBA leaves cash rate unchanged at 3% in April

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Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate <a href="https://www.rba.gov.au/media-releases/2013/mr-13-06" target="_blank">unchanged at 3.0 per cent</a>.
Global growth is forecast to be a little below average for a time, but the downside risks appear to be reduced. While Europe remains in recession, the United States is experiencing a moderate expansion and growth in China has stabilised at a fairly robust pace. Around Asia generally, growth was dampened by the earlier slowing in China and the weakness in Europe, but again there are signs of stabilisation. Commodity prices have declined somewhat recently, but are still at historically high levels.
Internationally, financial conditions are very accommodative. Risk spreads are narrow and funding conditions for financial institutions have improved. Long-term interest rates faced by highly rated sovereigns, including Australia, remain at exceptionally low levels. Borrowing conditions for large corporations are similarly very attractive. Share prices are substantially above their low points. However, the task of putting private and public finances on sustainable paths in several major countries is far from complete. Accordingly, financial markets remain vulnerable to setbacks.
In Australia, growth was close to trend over 2012, led by very large increases in capital spending in the resources sector, while some other sectors experienced weaker conditions. Looking ahead, the peak in resource investment is drawing close. There will, therefore, be more scope for some other areas of demand to strengthen.
Recent information suggests that moderate growth in private consumption spending is occurring, though a return to the very strong growth of some years ago is unlikely. While the near-term outlook for investment outside the resources sector is relatively subdued, a modest increase is likely to begin over the next year. Dwelling investment is slowly increasing, with rising dwelling prices and high rental yields. Exports of natural resources are strengthening. Public spending, in contrast, is forecast to be constrained.
Inflation is consistent with the medium-term target, with both headline CPI and underlying measures at around 2¼ per cent on the latest reading. Labour costs remain contained and businesses are focusing on lifting efficiency. These trends should help to keep inflation low, even as the effects on prices of the earlier exchange rate appreciation wane. The Bank's assessment remains that inflation will be consistent with the target over the next one to two years.
There are a number of indications that the substantial easing of monetary policy during late 2011 and 2012 is having an expansionary effect on the economy. Further such effects can be expected to emerge over time. On the other hand, the exchange rate, which has risen recently, remains higher than might have been expected, given the observed decline in export prices. The demand for credit has also remained low thus far, as some households and firms continue to seek lower debt levels.
The Board's view is that with inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is appropriate. The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand. At today's meeting, the Board judged that it was prudent to leave the cash rate unchanged. 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.
 
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Dwelling prices rising and high rental yields help keep rates on hold: RBA governor's statement

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Three out of the four major banks expect the RBA to cut the cash rate to 2.75% in June, according to the latest Bloomberg survey of economists.
Economists are unanimous though that there will be no rate cut today with all 28 economists surveyed just before the Easter break agreeing the cash rate will remain at 3% over April.
They are fairly certain of no rate cut in May with 23 out of 28 economists expecting the RBA to hold firm again.
However, chief economists at ANZ (Warren Hogan), NAB (Alan Oster) and Westpac (Bill Evans) all expect the RBA to cut the cash rate to 2.75% on June 4.
The Commonwealth Bank’s Michael Blythe expects no more rate cuts over the course of 2013.
In the last few weeks, <a href="/news">Westpac lifted its two-year fixed rate back above 5%</a>, signalling that fixed-rates may have bottomed out.
However, a day later, Australia’s biggest mutual lender <a href="/news">CUA</a> cut its three-year fixed rate to 5.1% – one of the lowest offerings on the market.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of April 2:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
State Custodians
</td>
<td valign="top" width="124">
State Custodians Peak Performance Offset (Refinance Only)
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.38%
</td>
</tr>
<tr>
<td valign="top" width="134">
Easy Street
</td>
<td valign="top" width="124">
Honeymoon Home Loan Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.70%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="124">
UHomeLoan for refinancing
</td>
<td valign="top" width="97">
5.12%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
Quick Direct
</td>
<td valign="top" width="123">
One year fixed
</td>
<td valign="top" width="95">
4.79%
</td>
<td valign="top" width="114">
5.46%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHomeLoan for refinance fixed rate one year
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
AMP
</td>
<td valign="top" width="123">
Affinity Package Residential Fixed 1 yr 100k+
 
</td>
<td valign="top" width="95">
4.84%
</td>
<td valign="top" width="114">
5.63%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
ME Bank
</td>
<td valign="top" width="131">
Member Package SMHL Standard Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.49%
</td>
</tr>
<tr>
<td valign="top" width="131">
Teachers Mutual Bank
</td>
<td valign="top" width="131">
Teachers Fixed Option Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="131">
AMP
</td>
<td valign="top" width="131">
Affinity Package Residential Fixed
</td>
<td valign="top" width="96">
5.04%
</td>
<td valign="top" width="111">
5.55%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
 
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