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

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Australia’s peak mortgage industry body, the MFAA has cancelled the memberships of 1,100 mortgage brokers for failing to meet new education requirements.
The terminated brokers failed to obtain a Diploma in Financial Services (Finance/Mortgage Broking Management) or equivalent qualification necessary to become MFAA Credit Advisers.
This constitutes more than 10% of the MFAA’s 11,000 strong member base.
It almost cancels out the 1,295 new members who joined the industry body over the 12 months to June 2012, the most recent MFAA annual report revealed.
In May 2012 the MFAA extended deadline for completing the diploma from June 30 2012 to January 31 2013.
The MFAA introduced the higher educational requirement in 2009.
Brokers need to obtain the qualification in order to continue membership with MFAA and use the accreditation of now being an MFAA Credit Adviser. 
“All members have been reminded of this required standard many times over the last 12 months, following the MFAA National Board's decision to actively demonstrate that members have high standards of professionalism and qualifications with consumers and regulators,” the MFAA said. "We are very pleased that more than 88% of our members are now qualified to use the new accreditation MFAA Credit Adviser, with expectations that many of those whose membership has been terminated will seek to have it reinstated within the next two months by providing evidence of the required education qualifications, “ said CEO of the MFAA, Phil Naylor. "It is very important that the sector, which now delivers more than 40% of mortgages in Australia, continues to show leadership in professional education, standards and compliance, negating the need for any further government intervention and regulation.
"With this sector providing home loans worth more than $100 billion this year, MFAA Credit Advisers are now a very important part of the financial services sector and MFAA members can now confidently display and promote their qualifications to their clients.
"I thank all of our members who have attained the new standard and accreditation and urge those who have been slow off the mark to get their diplomas as soon as possible to regain their membership status", he says.
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lschlesinger-FZcF9M3vE6

MFAA cancels memberships of 1,100 mortgage brokers

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The Australian Tax office will use new data-matching technology to closely scrutinise residential and commercial property sales to ensure tax payers paid the correct amount of tax.
Around 10.4 million taxpayers will face scrutinise over their property dealings with the ATO’s high tech computer systems gathering real property transaction details from state revenue offices and relevant state government land and property departments
The ATO will be keen to get maximum value out of the data-matching technology, which cost $800 million to implement over a seven year period.
"No one should underestimate the sheer volume of data the ATO now collects and with the ever-increasing sophistication of techniques to analyse and 'slice-and-dice' that data, the tax affairs of Australians will come under closer scrutiny," wrote <a target="_blank" href="https://www.propertyobserver.com.au/tax/ato-data-matching-targets-property-deals/2013011458733/Page-2">tax writer Terry Hayes</a> in January.
Last year the technology was used to match more than 649 million transactions, the Australian Financial Review reported.
The ATO will be assisted in efforts by the banks, including all the major banks and banks that service the wealthy investor market like Deutsche Bank and HSBC.
The ATO will be looking for offshore bank accounts, which may show that may show property and other hidden income for the 2009, 2010 and 2011 tax years.
“Our traditional sources of data include investment income information from banks, financial institutions and investment bodies, employment information and welfare payments.
“We obtain data from banks that identifies credit and debit card sales made by Australian businesses. This data is matched against taxpayer records to identify those people deliberately under-reporting or omitting income,” said the ATO.
In September last the ATO provided some insights into the scope of its data-matching capabilities.
“We match this data with our own information to detect those who may not be correctly disclosing all of their income.
“We also undertake large scale activities involving information exchange with other government agencies.
“We also have an agreement with Medicare Australia who provide data to enable us to administer the 30% health insurance incentives rebate, and have online access to information held by the Australian Securities &amp; Investment Commission (ASIC) and banking transactions captured by AUSTRAC.
Property investors with links to the horse racing industry were placed on particular notice:
“As well we undertake data matching projects relating to particular risks, issues or industries. For example, these could include scrutiny of property sales to detect capital gains issues or payments made to those involved in the horse racing industry,” said the ATO as part of the same statement.
The tax office will also target around 21,000 contractors who provide services to local councils using its data-matching technology to collect relevant information from local government authorities in Queensland, NSW, Victoria and Tasmania.
The ATO will also check the around 1.8 million records from Centrelink and Veterans’ Affairs, to confirm claims for dependant tax offsets made by people who received tax-free pensions or benefits in the 2011 or 2012 income years.
 
 <div id="story_info" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 10px; text-align: left;"></div>
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Taxpayers face ATO “data-matching” crackdown over residential and commercial property sales

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At a recent speaking engagement a member of the audience asked me a question. He had recently received $50,000 (he didn’t tell me how) and wanted to know what he should do with it.
When it comes to money, we’re used to hearing “I don't have enough”, but what about the people who do have some money? What should they be doing with it? What are their options?
If you were handed $50,000 today, what would you do with it?
In my opinion, you should always pay off debt as your number one priority.
Start with your 'bad debt' – credit cards, high interest loans and store finance cards.
This kind of debt can be costing you between 15% and 25% per annum on your outstanding balance.
An average working person’s consumer credit facilities could be costing hundreds each month in interest charges, while the capital amount remains, creating a payment for next month.
Once you’ve attended to the high interest consumer <a href="/news">debt</a>, look to your 'good debt' such as a mortgage.
Putting lump sums into your mortgage can significantly speed the pay-out of the loan, savings you tens of thousands of dollars over the years you carry this debt (look at any online calculator). It’s also tax effective in that most people pay no capital gains tax on their primary residence when they sell.
Once debt is tamed, you should look at using a lump sum to make a return. This starts with an assessment of your risk profile given your life stage.
A good option right now is shares – they are on the rise after several years of poor performance. However, the share market is volatile, so you need to be in a position to roll with the ups and downs, which means being invested for the medium-to long term. Stick to shares in businesses that are stable and consistent rather than speculative companies that may or may not succeed.
A second option, especially for younger people in employment, is to put it towards a deposit on a <a target="_blank" href="/news">property</a>.
So long as you can afford to service the loan, there are benefits to buying a house: you can live in it, you can rent it out and if you buy well you should enjoy capital gains as it increases in value. It would be a great first investment.
Even though property is less risky than shares it’s always a long-term investment so be prepared to hold on for 7-10 years.
And don't forget super. The tax benefits of superannuation are significant, but remember it will be locked away, unable to be used until retirement.
You should strive to have some money in cash in case of an emergency, but also in an account that makes a return above inflation (e.g. high interest savings accounts, active cash funds).
Lastly, always remember that a lump sum of money must work for you: it should be returning growth or income, so you build something for the future; or it should be reducing what debt you have now.
Either way, a windfall is not something that should go to waste.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

A windfall is not something that should go to waste: Mark Bouris

<html><body>
Economists are unanimous that the Reserve Bank will leave the cash rate unchanged on April 2.
All 27 economists polled by Bloomberg expect the cash rate to remain unchanged at 3%.
The odds of a May rate cut also look slim with 18 out of 27 expecting no change on May 7.
NAB chief economist Alan Oster is the only major bank economist tipping a rate cut on May 7.
The polling was carried out on March 15.
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All economists agree on no April cash rate cut: Bloomberg

<html><body>
The interest rate cuts of the past year, if fully utilised, could potentially save mortgage holders more than $90,000 in home loan interest and take nearly seven years off their loan term.
A series of interest rate cuts since May 2012 has seen the official <a target="_blank" href="https://www.propertyobserver.com.au/economy/rba-statement-on-march-rate-decision/2012030653695">cash rate</a> reduce by 1.25%, with banks passing on about 1% of this.
Therefore, if you had a 30-year, $300,000 home loan at 7% back in May last year, you’re probably now paying around 6%.
This takes the required monthly repayment from $1995 a month to $1798 – let’s call it a difference of $200.
However, if you maintained your repayments at $1995, you could potentially save yourself more than $90,000 in interest and take six years and nine months off your home loan.
You end up paying about $257,000 in interest over the life of the <a href="/news">home loan</a>, rather than about $347,000, so you’re paying about 26% less in interest.
While this scenario assumes that the interest rate stays at 6% for the life of the loan, which isn’t likely, it does illustrate the power of making extra repayments off your home loan, whatever the interest rate may be.
It’s all about good habits and discipline.
If you’ve been used to making those repayments at that higher rate, it should then be reasonably painless to continue to keep them at that same level.
Chances are most people won’t even miss the money and the benefits of not touching that money now for a major long-term benefit should outweigh any pain.
You’re effectively giving yourself $90,000 of future lifestyle – money you can use to do something significant with for you and your family.
That’s a significant amount of money for pretty well everyone I know.
Any further cuts, either by the RBA or the banks themselves, to home loan interest rates would further compound the benefits.
Joe Sirianni is executive director of <a target="_blank" href="https://www.smartline.com.au/" rel="nofollow">Smartline</a>.
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jsirianni-sEFeNfmAJo

Recent rate cuts could save mortgage holders $90,000: Joe Sirianni

<html><body>
Australia’s largest customer-owned lender, CUA, has cut its three-year fixed rate from 5.25% to 5.1%, effective from Friday (March 22).
The move follows <a href="/news">Westpac lifting its two-year fixed-rate</a> from 4.99% to 5.29% today and expectations from mortgage broker Loan Market and Channel Nine's Ross Greenwood that fixed-rates would start rising again.
In his money minute segment today on Channel Nine Today Greenwood said the Westpac move was indicative of the banks changing their views on loan rates.
CUA general marketing manager Jason Murray highlighted that the move was "contrary to one of the nation’s largest banks".
Murray says the CUA’s three-year fixed rate is significantly lower than the equivalent standard rates offered by the Big Four banks, now by thirty four basis points (0.34%).
"On an average loan size of $300,000 with a 30 year term, a three-year fixed rate home loan from CUA at 5.10% could save homebuyers $63 per month, or $2,2681 over the three year duration of the loan, compared to the average rate of the big four banks on their equivalent products.
 “While one of Australia’s largest banks has moved to increase their fixed rates, CUA has chosen to make further cuts to its entire suite of fixed rate products. We are determined to offer customers the best deal we possibly can and these cuts further demonstrates that. 
“CUA aims to provide Australians with an innovative alternative based on value and service to the major banks and we are constantly looking at ways to reinforce this to our customers,” he says.
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CUA cuts three-year fixed rate to 5.1% and sticks boot into big banks

<html><body>
Westpac has ended its 4.99% two-year fixed-rate offer less than two months since becoming the first major bank to offer a sub-5% fixed-rate home loan this year.
It is also the first major bank in two years to lift its fixed-rates - an indication that the bank does not expect many further near-term cuts in the cash rate.
From tomorrow (March 20), the bank’s two-year fixed-rate offer will increase by 30 basis points to 5.29% under its package home loan offering.
For non-package home loan customers, the two-year fixed rate increases from 5.19% to 5.49%.
The bank’s other fixed rate products have not changed.
<a href="https://www.propertyobserver.com.au/news/westpac-lead-the-big-banks-below-5-on-nfixed-home-loans/2013020659208" target="_blank">Westpac introduced its 4.99% offer on February 7</a> – a 40 basis point reduction and the bank's lowest two-year fixed rate offering since September 2009.
The other major banks continue to offer a two-year fixed rate of 4.99% as well as a number of smaller lenders.
Loan Market corporate spokesperson Paul Smith says that after months of speculation it appears that fixed rate products have reached their lowest point and that they will rise as funding volatility and improvements in the Australian economy prompt higher fixed interest rates.
“While there remains a downward outlook on variable rates, fixed interest rates are now likely to rise and soon intersect with standard variable rates. For many home owners, the window to lock in a fixed rate that’s lower than a variable one is closing fast,” he says.
According to Smith, this is the beginning of a shift in the mortgage market as the banks and lenders react to the improvements in the domestic economy and the limited movements of the RBA.
“There’s certainly still scope for the RBA to lower the cash rate in the coming months, as some sectors are still lagging whilst others are showing steady improvement.”
“If lenders start to increase the rates of their fixed products, they’re likely not anticipating the same downward pressure from the market to drop their variable rate interest rates. We could be moving to the point in the interest rate cycle where variable rates are lower than fixed rates.”
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Westpac lifts fixed rates above 5% with more lenders set to follow

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Smaller banks and non-bank lenders may be able to compete more effectively with the major banks in the mortgage market on the back of improving securitisation markets.
Securitisation, where home loans are packaged together and sold to institutional investors, was a cheap source of wholesale funding for many non-bank lenders prior to the GFC, but the market virtually froze following the crisis with many lenders unable to fund new loans as a result.
In a speech in Sydney this morning, assistant RBA governor Guy Debelle noted the issuance of securitised mortgage debt “has picked up of late and spreads have tightened considerably following the earlier sizeable tightening in covered bond spreads”.
<img alt="rbamarch19one" height="403" width="470" src="/images/stories/2013/03/rbamarch19one.gif">
“Encouragingly, recent issuance has been completed with little or no support from the Australian Office of Financial Management (AOFM) due to strong private investor demand, and primary market spreads are at their tightest level since 2007.
Since September 2008, the AOFM has acted as a cornerstone investor in residential mortgage-backed securities in an effort to encourage competition in the mortgage market.
“This spread tightening will lower the cost of mortgage lending for small banks and non-bank lenders who rely on securitisation for a large part of their funding,” said Debelle.
In February, <a href="/news">Bendigo and Adelaide Bank</a> launched an $850 million residential mortgage-backed securities (RMBS) offer, backed by prime residential mortgages, at 95 basis points above the one-month bank rate.
Bendigo and Adelaide Bank managing director Mike Hirst said this was the best-priced securitisation offer since the GFC.
In his address in Sydney, Debelle noted an overall improvement in global debt market compared with a year ago.
“This time last year, debt markets globally weren't in great shape, though the local market wasn't faring too badly.
“A year on, global debt markets are in a much better position, with issuance strong across most parts of the market, spreads considerably lower and the absolute level of yields very low by historical standards,” said Debelle.
<img alt="rbamarch19two" height="596" width="470" src="/images/stories/2013/03/rbamarch19two.gif">
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Cheaper securitisation to lower mortgage lending costs for small banks and non-banks: RBA

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Borrowers can secure variable mortgage rate discounts of as much as 1.2% off the standard variable rate as banks continue to compete for new business in a slow-growth mortgage environment.
Banks are advertising their variable rate discounts in print campaigns and through their websites, but never these discounts, and certainly never available to all their customers.
Existing borrowers with equity in their homes may be able to secure similar or greater discounts in negotiations with their bank manager if they are of good standing and can demonstrate that they intend to refinance into a cheaper home loan with another lender.
However, borrowers should be aware that refinancing can be an<a target="_blank" href="/news"> expensive protest.</a>
Last month <a href="/news">Channel Nine finance journalist Ross Greenwood </a>suggested any borrower “worth their salt” could get 100 basis points cut from the standard variable rate.
The suggestion was made to Commonwealth Bank CEO Ian Narev at a media briefing – Narev responded by saying the standard variable rate was just a benchmark rate against which the bank determines the rate offered to its customers.
Canstar researcher Mitchell Watson told Fairfax that NAB, Macquarie Bank and building society IMB had all increased the discount offered on home loan packages recently.
''Our data would suggest that you can achieve up to 1.2 percentage points off the standard variable rate, which is being offered by Citibank,'' Watson said.
120 basis points - Citibank
Citibank’s standard variable rate is 6.69% with its website showing its lowest variable rate offering being 5.49% - a difference of 1.2 percentage points.
To be offered this rate borrowers must have a minimum 30% deposit – a hefty requirement – and a minimum loan amount of $150,000.
105 basis points – Bank of Queensland
The Bank of Queensland is offering 105 basis points off the standard variable rate for the first two years of the loan as part of its Home Loan Privileges Package. The offer is available for home loan applications between February 1, 2013 and March 31 2013 and settled by July 31, 2013. The offer is for loan amounts from $250,000 and $1,000,000. After the two-year period, a discount rate of 0.85% p.a. off the applicable standard variable rate will apply for the remaining life of the loan.
Bank of Queensland’s standard variable rate is 6.51%.
101 basis points – Macquarie Bank
Macquarie Bank is offering a 101 basis point discount off the standard variable rate for the life of the loan for loans with a loan to value ratio of 80% or less. The offer is available under its classic loan, premium loan and line of credit offerings. The offer is for new home loan lodgements only that settle  by June 30.
Macquarie Bank’s standard variable rate is 6.45%. 
101 basis points – Bankwest
Bankwest is offering a 101 basis point discount off the standard variable rate for two years under its Double Deal Home Loan – a variable rate of 5.38%. The offer requires a 5% deposit. The offer rolls over to the regular save home loan rate after two years, which is currently 5.89%. 
100 basis points - Westpac
Westpac is advertising “up to 1% discount” in its “Castles” campaign which is running in newspapers across Australia.
The discount is available for a limited time for customers who take out a new home loan of $500,000 or more under its premier advantage package.
This discount incorporates the standard 0.7 percentage point discount under its package home loan offering plus the additional 0.3 percentage point discount for new loans of $500,000 or more.
90 basis points – Suncorp
Suncorp is offering this discount off the standard variable rate for the life of the loan under is its home package plus offering, which includes a platinum credit card. The discount rate is only available to new customers who take out a standard variable rate home loan as part of the package, with a balance of between $250,000 and $499,999 and who contribute a minimum 20% deposit. 
Suncorp has a standard variable rate of 6.49%
85 basis points - NAB
NAB’s lowest variable rate offering is 5.53% - 85 basis points below its standard variable rate of 6.38%.
The offer is for new loans issued from February 11, 2013 and only for a limited time.
The loan must have a balance of $500,000 or more.
80 basis points – Commonwealth Bank
The Commonwealth Bank is offering a maximum discount of 0.8% off the standard variable rate for package home loan borrowers. The offer is for new loans issued from January 9 and requires a balance of $150,000. The special office is “subject to change without notice”.
The bank’s standard variable rate is 6.40%
80 basis points - ANZ
ANZ is offering a maximum discount of 0.8% off the standard variable rate under its breakfree package offering.  The offer is for new loans issued from November 13, 2012 and only for a limited time.
The maximum saving is available for borrowers who take out a loan of $500,000 or more with a loan to value ratio equal or less than 80% - this would require a minimum deposit of $100,000 on a $500,000 loan.
70 basis points – Bendigo Bank
Bendigo Bank is offering a maximum 0.7% off the standard variable rate under its home loan package plus. It requires a minimum loan amount of $250,000. The bank has a standard variable rate of 6.51%.
65 basis points - IMB
Building society IMB is offering a platinum package home loan rate of 5.51%. The loan requires a $500,000 loan balance and a minimum 20% deposit. IMB’s standard variable rate is 6.16%.
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Bank home loan discounts: who's making the biggest offers

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Bids for a portfolio of about 560 residential, development, industrial and rural mortgages from the failed rural lender Banksia are due later this month.
Bidders for the estimated $200 million portfolio are reported to include Bendigo Bank, Deutsche Bank, Goldman Sachs and Macquarie Group, the Australian Financial Review noted.
The $650 million collapse of Banksia prompted the Australian Securities and Investments Commission (ASIC) last month to release new guidelines.
The $4 billion debenture sector must now have a minimum capital requirement of 8% for certain debenture issuers that accept retail investments.
In February <a href="/news">Property Observer reported</a> the receivers of the failed Victorian debenture issuer and mortgage lender Banksia expect to make a “significant” second payment of between and 20 and 35 cents in the dollar to investors by June 30 if it can successfully realise a portfolio of 565 loans.
In addition, the receivers will also seek to sell freehold property owned by Banksia to raise additional funds to repay debenture holders.
A first distribution payment of 20 cents in the dollar was paid to investors on December 7 out of cash holdings, the first part of an estimated total repayment to debenture holders of between 50 and 65 cents in the dollar.
Banksia operated from 10 branches across Victoria and NSW with its head office in Kyabram.
The loans have a face value of $270 million and represent the best performing loans out of a total portfolio of around 1,000 loans, which have a total face value of $537 million.
A return of between 55 to 70 cents is expected for investors in a smaller Banksia-managed fund, Cherry Fund Limited, also in the hands of the receivers.
<a href="https://www.propertyobserver.com.au/industry-news/victorian-non-bank-lender-banksia-securities-collapses/2012102657456" target="_blank">Banksia collapsed in October</a> putting $660 million of small investor debenture funds at risk.
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