<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy 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>
NAB has announced that it will pass on 20 out of the 25 basis points cut from the cash rate by the RBA yesterday.
The bank's standard variable home loan rate will fall from 6.58% to 6.38% per annum on December 10 - the lowest of the major banks with the Commonwealth Bank (6.6%) and Westpac (6.71%) yet to make an announcement on rates and ANZ (6.6%) making its independent decision on Friday, December 14.
NABs head of personal banking, Lisa Gray said the rate cut delivers on its pledge to offer the lowest standard variable home loan rate of the major banks for 2012 - however the bank did not say whether it would continue with this pledge in 2013.
The bank has offered the lowest standard variable home loan rate of the major banks for 41 months.
"Throughout the year, we have consistently acted to deliver on our pledge to our customers to offer the lowest standard variable rate throughout 2012," she said.
NAB must be fairly confident that neither the Commonwealth Bank nor ANZ will pass on 23 basis points or more.
Were they to do so, the Commonwealth Bank and/or ANZ's standard variable rate would reduce to 6.37% meaning they would have a lower standard variable offering than NAB - a public relations disaster.
Gray said NAB's decisions on interest rates were not taken lightly and the bank sought to strike the right balance between the cost of funding and offering competitive rates to customers.
Update, the <a target="_blank" href="/news">Commonwealth Bank</a> has announced it will pass on 20 basis points to borrowers, reducing its standard variable rate to 6.40% from December 10. 
 
</body></html>

lschlesinger-FZcF9M3vE6

Rate watch: NAB moves first among big four passing on 20 basis points 

<html><body>
Few Australian housing policies are more <a target="_blank" href="https://www.prosper.org.au/wp-content/uploads/2012/09/Philip_Soos_Written_Off_Negative_Gearing.pdf">contentious than negative gearing</a>. Despite the publicity it has received and its popularity with government and property investors, little analysis of negative gearing can be found within easy reach, with much of it accessible only in academic journals. Only an occasional fragment is found in the mainstream media.
Australia’s policy on negative gearing is considered a sacred cow by investors and politicians, with <a target="_blank" href="https://news.domain.com.au/domain/home-investor-centre/blogs/domain-investor-centre-blog/what-housing-policy-20120621-20pcl">Prime Minister Julia Gillard</a>, <a target="_blank" href="https://www.theaustralian.com.au/national-affairs/treasury/wayne-swan-stands-by-negative-gearing/story-fn59nsif-1226321644363">Treasurer Wayne Swan</a> and <a target="_blank" href="https://www.couriermail.com.au/news/breaking-news/housing-crisis-negative-gearing-will-stay/story-e6freono-1226462610490">Federal Housing and Homelessness Minister Brendan O'Connor</a> ruling out changes to this policy. The reason for this obstinacy is that negative gearing allows a property investor to deduct losses against the investor’s personal income of the investor at their marginal tax rate (MTR), a tax minimisation strategy adopted by 1,110,922 taxpayers who vote. Property is run at a net loss when interest payments and property-related expenses like <a target="_blank" href="https://www.ato.gov.au/content/downloads/IND00270214N17290611.pdf">repairs and maintenance</a> exceed rental income.
The strong Australian economy has not experienced a recession since the early 1990s. This along with reduced personal tax burdens, real rising incomes, extensive property <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate_Committees?url=hsaf_ctte/report/report.pdf">subsidies</a> and <a target="_blank" href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate_Committees?url=hsaf_ctte/report/report.pdf">tax breaks</a>, and rapid increases in property values, delivered an economic environment conducive to negative gearing. From 1996 to 2010, housing prices surged by 130%, adjusted for inflation and quality.
The present <a target="_blank" href="https://housingstressed.org.au/wp-content/uploads/2011/09/Australias_Broken_Housing_System.pdf">housing and rental affordability crisis</a> is placing tremendous <a target="_blank" href="https://housingstressed.org.au/wp-content/uploads/2011/10/Housing-costs-through-the-roof-Final-Report.pdf">financial stress</a> on many Australians as <a target="_blank" href="https://www.rba.gov.au/speeches/2008/images/sp-so-270308-graph1.gif">housing and rental prices have outpaced wages</a>, and provided the spark for the public to question the validity of subsidising investors, whether they choose to gamble on making a return by selling property at a higher price or eventually becoming cash flow positive when rents rise to exceed outgoings.
Despite the fact that negative gearing has existed for a long time, much assertion but surprisingly little evidence has been made to justify this policy across all classes of investment, whether it be shares, business, or property investment. The supporters of negative gearing provide negligible evidence to show that is it a sound policy.
Deductibility and tax minimisation under negative gearing
It is common sense that both businesses and investors should be allowed to deduct the costs directly incurred in making an income, but labour is unable to do so. A salaried employee incurs substantial costs in the course of earning a wage (for instance, accommodation, travelling to and from the workplace, and childcare) but government policy bars deduction of these costs against wages.
There is a double standard in operation here. From a distributional or equity perspective, this policy is biased towards the <a target="_blank" href="https://taxreview.treasury.gov.au/content/downloads/report/Architecture_of_Australias_Tax_and_Transfer_System_Revised.pdf">wealthy</a>, as business and investment capital <a target="_blank" href="https://www.melbourneinstitute.com/downloads/working_paper_series/wp2004n12.pdf">ownership</a> is concentrated into this class, which relies proportionately less upon wages.
The disparity between wage earners and investors is exacerbated when negative gearing is considered. The net income loss from an investment property reduces the investor’s personal tax liability, even though that loss was generated elsewhere. Earning a wage and earning income from an investment are two separate activities and should be treated as such. Business commentator Alan Kohler <a target="_blank" href="https://www.propertyobserver.com.au/https://www.smh.com.au/articles/2004/06/28/1088392603764">accurately summarised</a> the inconsistency between investment and employment:
Five years ago treasurer Peter Costello told Australians: “Work for a living and we’ll tax you at close to 50 cents in the dollar; speculate and we'll only take 25 cents. Not only that but, as a special deal – while stocks last – we’ll pay half your speculating costs.”
To sum up this line of reasoning, investors are unduly advantaged by the present taxation arrangements relative to labor. Investment capital is overwhelmingly concentrated in the wealthiest households, who deduct investments costs against income generated, have the highest personal incomes and thus MTRs, can deduct investment losses against their personal tax liability (negative gearing), can carry forward losses and lower their effective MTRs.
Clearly, the tax system is biased towards the rich in terms of cost deduction and tax liability minimisation. Some of this bias can be reduced by maintaining consistency: labour should be allowed to deduct costs against wages but disallow negative gearing for investors.
 
<hr class="system-pagebreak">
 
Increasing the rental stock and lowering rents
This is the <a target="_blank" href="https://media.hia.com.au/enews/industryupdate/iss3/media/Negative_Gearing_Feb11.pdf">primary argument in favour of negative gearing</a>, that it provides an incentive to investors to purchase property for rent, thus increasing the supply of rental properties as a proportion of the total housing stock. As the reasoning goes, negative gearing holds rental prices down, benefitting tenants.
The evidence shows otherwise: <a target="_blank" href="https://www.macrobusiness.com.au/2011/04/negative-gearing-on-the-nose/">92% of residential property investment</a> is for the purchase of existing dwellings rather than those newly constructed, meaning that former owner-occupiers and tenants have to purchase or rent elsewhere, respectively, thus resulting in little to no net increase in the supply of rental dwellings.
In the long term, it makes little sense for the supply of rental properties to increase compared to the total residential stock unless there is a profound upward swing in housing prices, with investors spurred into the market on expectations of making a substantial profit through realising capital gains upon sale. Accordingly, there is little incentive when <a target="_blank" href="https://debtdeflation.com/blogs/wp-content/uploads/2010/09/KeenCLSAReportHandOfGov.pdf">long-term data</a> from Australia and other countries shows that housing prices track inflation, despite numerous and ongoing booms and busts.
Negative gearing is also <a target="_blank" href="https://www.propertyobserver.com.au/https://www.austlii.edu.au/au/journals/DeakinLRev/2002/17">badly targeted</a> as high-income professionals and millionaires also allegedly receive lower rents along with those who do need it. If policymakers are concerned about rental affordability, there are other options to pursue. The obvious candidate is the Centrelink <a target="_blank" href="https://www.humanservices.gov.au/customer/services/centrelink/rent-assistance">Commonwealth Rent Assistance</a> (CRA) scheme, a subsidy provided to low-income tenants.
The effects of quarantining negative gearing in the 1980s
The <a target="_blank" href="https://www.theage.com.au/business/a-negative-impression-20110501-1e30g">favourite scare story</a> promulgated by the housing lobby is that when the Hawke/Keating government quarantined negative gearing during 1985-87, it caused rental prices to surge, quickly leading to its reinstatement. Fortunately, not only did the evidence refute this <a target="_blank" href="https://www.theage.com.au/business/time-to-change-the-unfair-rules-for-negative-gearing-20110424-1dsu6">urban myth</a>, it showed that negative gearing can be safely quarantined, if not abolished.
Rents rose in Perth and Sydney only, remained steady in Melbourne and Canberra, and fell in Brisbane, Adelaide, Hobart and Darwin. If the lobby was correct, quarantining should’ve adversely affected all capital city rental markets equally, not just two out of eight (even when factoring in a lagged response). There were <a target="_blank" href="https://www.asb.unsw.edu.au/research/publications/ejournaloftaxresearch/Documents/paper4_v3n1.pdf">confounding factors at work</a>: rising interest rates, introduction of capital gains tax and a stock market bubble.
Oddly enough, while the lobby claims that quarantining will increase rents, the inverse is not considered: rents have escalated from 2006 onwards while negative gearing was in effect. Perhaps they could claim that rents would’ve been higher otherwise, but this is an ad infinitum argument, that is, negative gearing is not generous enough, so by increasing the scope of tax deductibility, it can serve to further constrain rents.
How much does negative gearing cost?
ATO data provides an estimate of the cost of negative gearing: in 1993-94 it was $850 million, fluctuating around the $1 billion mark over the next several years. As investors piled into the market, the cost rapidly escalated to a peak of $3.8 billion in 2007-08 before falling to $2.9 billion in 2009-10. Over the last 17 years, negative gearing has cost taxpayers an inflation-adjusted $33.5 billion (2012 dollars).
What to do?
Policy outcomes can be enhanced by quarantining negative gearing deductions to the purchase of newly constructed properties but not for established properties. It would be even better to remove it, as it makes little sense to subsidise property investors, regardless of the reasons for investment when there are <a target="_blank" href="https://housingstressed.org.au/2012/08/30/aah-releases-a-4-point-plan-to-fix-our-housing-crisis/">better policies</a> for helping low-income tenants.
Also, the negative gearing debate presupposes the existence of income taxation, which has no justification when <a target="_blank" href="https://www.prosper.org.au/wp-content/uploads/2007/11/dwyer-tax-resources.pdf">evidence suggests that substantial amounts of tax revenue</a> can be raised from far more efficient bases. Income tax is one of <a target="_blank" href="https://www.taxreview.treasury.gov.au/content/html/Publications/papers/report/image/section_2-2.gif">125</a> <a target="_blank" href="https://taxreview.treasury.gov.au/content/html/commissioned_work/downloads/KPMG_Econtech_Efficiency%20of%20Taxes_Final_Report.pdf">burdensome taxes</a> that productive individuals and business bear the brunt of.
According to the property lobby, it’s <a target="_blank" href="https://www.smh.com.au/business/negative-gearing-is-safe-from-tax-review-treasurer-hints-20100326-r34t">too dangerous to reform negative gearing</a>, let alone abolish it. Fortunately, there’s no requirement for anyone to believe the lobby, given the weight of evidence against their assertions and the fact that they have enough conflicts of interest to fill a book.
Philip Soos is a researcher at the School of International and Political Studies at <a target="_blank" href="https://www.deakin.edu.au/">Deakin University.</a>
 
</body></html>

psoos-uR5EGb6SbQ

 Negative gearing has worsened the housing crisis and cost taxpayers billions of dollars: Philip Soos

<html><body>
The Reserve Bank’s decision to cut the cash rate to 3% appears to have been taken – perhaps belatedly – to stimulate the non-mining sectors of the economy as well as provide a greater buffer against further global economic weaknesses.
Many will argue that it has come too late and that the RBA should have made adjustments earlier for struggling sectors like manufacturing, retail and tourism.
It also suggests some inconsistency in thinking (as pointed out rather harshly by<a href="https://www.businessspectator.com.au/bs.nsf/Article/RBA-Reserve-Bank-interest-rate-cut-inflation-pd20121204-2N6WD?OpenDocument&amp;utm_source=exact&amp;utm_medium=email&amp;utm_content=143786&amp;utm_campaign=pm&amp;modapt=commentary" target="_blank"> </a><a href="https://www.businessspectator.com.au/bs.nsf/Article/RBA-Reserve-Bank-interest-rate-cut-inflation-pd20121204-2N6WD?OpenDocument&amp;utm_source=exact&amp;utm_medium=email&amp;utm_content=143786&amp;utm_campaign=pm&amp;modapt=commentary" target="_blank">Business Spectator's Adam Carr</a>) when looking back at concluding remarks in the November statement with the RBA content to adopt a wait and see approach as to the impact of earlier rate cuts.
“Further effects of actions already taken to ease monetary policy can be expected over time. The board will continue to monitor those effects, together with information about the various other factors affecting the outlook for growth and inflation,” said Glenn Stevens in his November statement.
The December statement says growth has been “running close to trend over the past year” and that inflation is “consistent with the medium-term target”, so on those two fronts the need for a rate cut cannot be argued.
The conclusion which can then be drawn is that concerns about the world economy and the need for stimulus of the non-mining sectors of the economy have finally become uppermost in the mind of the RBA.
Certainly, the housing market is not worrying the RBA as much as it has previously, with Stevens noting in his December statement that there are “indications of a prospective improvement in dwelling investment, with dwelling prices moving a little higher, rental yields increasing and building approvals having turned up”.
And access to capital for big business and banks is also not a problem in the minds of the RBA board members.
“Capital markets remain open to corporations and well-rated banks, and Australian banks have had no difficulty accessing funding, including on an unsecured basis. Borrowing conditions for large corporations are similarly attractive and share prices have risen since mid-year," said Stevens.
Indeed, such statements could have been taken to justify a rate hold.
But clearly the two-speed economy is a serious concern.
“Available information suggests that the near-term outlook for non-residential building investment, and investment generally outside the resources sector, remains relatively subdued. Public spending is forecast to be constrained,” said Stevens in his December statement.
Adding to this, the RBA is also concerned about the forecast slowdown in the mining investment boom and that other sectors of the economy will need to grow to keep the economy on track.
“In Australia, most indicators available for this meeting suggest that growth has been running close to trend over the past year, led by very large increases in capital spending in the resources sector, while some other sectors have experienced weaker conditions.
“Looking ahead, recent data confirm that the peak in resource investment is approaching. As it does, there will be more scope for some other areas of demand to strengthen,” said Stevens.
The RBA also highlights a gloomier global outlook with global growth “forecast to be a little below average for a time”, with risks to the outlook “still seen to be on the downside”.
Given the focus on the mining investment slowdown (expected to peak in 2014) and a desire to stimulate the non-mining sectors, further rate cuts should be expected in 2013, perhaps earlier rather than later.
</body></html>

Rate cut aims to stimulate non-mining sectors of the economy

<html><body>
Australia's fifth biggest mortgage lender, ING Direct has thrown down the gauntlet to the major banks by passing on today's RBA cash rate cut in full.
ING Direct will lower the interest rate on its variable mortgages by 0.25 percentage points, effective Monday December 24.
The online bank's most popular home loan the Mortgage Simplifier will reduce to 5.72% p.a.
“Our funding position has eased recently allowing us to pass on 25 basis points, however, the threat of elevated funding costs has not passed completely, " says ING Direct CFO Glenn Baker.
ING Direct has a $38 billion home loan book.
</body></html>

Online ING Direct quick to move with full rate cut passed on to borrowers

<html><body>
Reserve Bank rate cuts no longer have any meaningful impact on housing market activity, according to Laing+Simmons general manager Leanne Pilkington, following today’s 25 basis point cash rate cut.
Swimming against the tide of industry commentary forecasting a housing market bounce in 2013, Pilkington says that while borrowers may get a final reprieve for the year from the rate cut, the Reserve Bank "no longer has the relevance or power to stimulate housing market activity as the banks are either not passing on the cuts, or passing on only a fraction of them".
“The net result is that interest rate cuts at the Reserve Bank level are not having an impact. The subdued levels of transactional activity, despite the official cash rate being at historical lows, not only emphasises the caution among buyers but also the lack of stock on the market,” said Pilkington.
“The end result of the lack of consumer confidence – and trust – in the banks is that more people are staying put, fewer first home buyers are taking the first step to ownership, and those in need of an upgrade are hesitant to make a move in the current climate.”
Laing+Simmons recorded a 30% jump in open for inspections in October over September as well as a rise in the number of auction attendees and market appraisals following the October 3 rate cut, but the rally was short lived with November numbers back on par with September.
Pilkington said spring contributed to the usual spike in activity, with the market unable to maintain the upward momentum.
She said the government needed to investigate “new avenues to stimulate activity, as cash rate adjustments are no longer cutting it and said there was a need for to incentivise the developer side of the equation “because caution is dictating the buyer side at present”.
She also called for a “reconsideration of stamp duty” calling it “the single most restrictive tax inhibiting transactional activity, one which effectively quashes a potential deposit for many buyers”.
Other market commentators said the rate cuts would have an impact.
“Two interest rate cuts this quarter (October and now December) improve the prospects of a tangible recovery emerging in 2013 for both new home building and renovations activity,” said HIA chief economist, Dr Harley Dale.
 "Lower interest rates make a vital contribution to improving conditions for the residential construction industry, but government action is the key.”
Residential developer Sekisui House, currently building the $2 billion Central Park mixed-use project in inner Sydney in partnership with Frasers Property Group and The Hermitage residential community in Sydney’s South West said the 0.25% cut would boost the property market in the coming months
“In our market, we’ve noticed a trend in higher sale volumes corresponding to previous rate cuts throughout 2012, which we believe is also buoyed by the significant State Government commitment to infrastructure in Sydney’s South West,” said Craig D’Costa, Sekisui House senior development manager at The Hermitage.
Matt Daly, general manager of residential builder Hotondo Homes, welcomed the rate cut and said it would bring the dream of building and owning your own home “a little more reachable”.
</body></html>

RBA rate cut won’t stimulate housing market pick-up: Leanne Pilkington

<html><body>
<h3 id="mr-title">Statement by Glenn Stevens, governor: monetary policy decision:</h3>
"At its meeting today, the board decided to reduce the cash rate by 25 basis points to 3%, effective 5 December 2012," writes Stevens.
"Global growth is forecast to be a little below average for a time. Risks to the outlook are still seen to be on the downside, largely as a result of the situation in Europe, though the uncertainty over the course of US fiscal policy is also weighing on sentiment at present. Recent data suggest that the US economy is recording moderate growth and that growth in China has stabilised. Around Asia generally, growth has been dampened by the more moderate Chinese expansion and the weakness in Europe.
"Key commodity prices for Australia remain significantly lower than earlier in the year, though trends have been more mixed over the past few months. The terms of trade have declined by about 15% since the peak, to a level that is still historically high.
"Sentiment in financial markets remains better than it was in mid year, in response to signs of progress in addressing Europe's financial problems, though Europe is likely to remain a source of instability for some time. Long-term interest rates faced by highly rated sovereigns, including Australia, remain at exceptionally low levels. Capital markets remain open to corporations and well-rated banks, and Australian banks have had no difficulty accessing funding, including on an unsecured basis. Borrowing conditions for large corporations are similarly attractive and share prices have risen since mid year.
"In Australia, most indicators available for this meeting suggest that growth has been running close to trend over the past year, led by very large increases in capital spending in the resources sector, while some other sectors have experienced weaker conditions. Looking ahead, recent data confirm that the peak in resource investment is approaching. As it does, there will be more scope for some other areas of demand to strengthen," Stevens writes.
"Private consumption spending is expected to grow, but a return to the very strong growth of some years ago is unlikely. Available information suggests that the near-term outlook for non-residential building investment, and investment generally outside the resources sector, remains relatively subdued. Public spending is forecast to be constrained. On the other hand, there are indications of a prospective improvement in dwelling investment, with dwelling prices moving a little higher, rental yields increasing and building approvals having turned up.
"Inflation is consistent with the medium-term target, with underlying measures at around 2½%. The introduction of the carbon price affected consumer prices in the September quarter, and there could be some further small effects over the next couple of quarters. Partly as a result of that, headline CPI inflation will rise above 3% briefly. Looking further ahead, with the labour market softening somewhat and unemployment edging higher, conditions are working to contain pressure on labour costs. A continuation of moderate wage outcomes and improved productivity performance will be needed to keep inflation low, since the effects on prices of the earlier exchange rate appreciation are now waning. The bank's assessment remains that inflation will be consistent with the target over the next one to two years.
"Over the past year, monetary policy has become more accommodative. There are signs of easier conditions starting to have some of the expected effects, though the exchange rate remains higher than might have been expected, given the observed decline in export prices and the weaker global outlook. While the full effects of earlier measures are yet to be observed, theboard judged at today's meeting that a further easing in the stance of monetary policy was appropriate now. This will help to foster sustainable growth in demand and inflation outcomes consistent with the target over time," says the statement.
</body></html>

po-LsXgBTHBmX

Just a little housing improvement detected so rate cut given: RBA governor's statement for December cash rate meeting

<html><body>
The Australian Bankers’ Association (ABA) has defended the past decisions by its banking members not to pass on cash rate cuts in full in a seemingly pre-emptive advisement ahead today’s forecast 25 basis point rate cut by the RBA.
Banks are expected to pass on around 20 basis points to borrowers with a now familiar consumer, media and political backlash likely to follow.
Ahead of today's announcement, Steven Münchenberg, chief executive of ABA, says the Reserve Bank has ttself acknowledged that funding costs have increased by 50 basis points over the past year, with banks absorbing some of this increase themselves.
“The Reserve Bank understands the cash rate is just one component of the true cost of banks’ funding and therefore does not expect banks and other lenders to exactly match every cash rate movement,” says Münchenberg.
“The Reserve Bank Board takes into account what borrowers are actually paying in the marketplace for loans and what they are receiving on deposits when making their decision.”
“Banks are facing higher funding costs mainly due to the competitive rates being paid on deposits.”
Münchenberg says customers should shop around for the best home loan deal, pointing out that banks routinely offering discounts of around 70 basis points off the advertised standard variable rate to approved customers.
However, he failed to explain how banks can offer these discounts in a higher funding-cost environment.
Münchenberg said that prior to the GFC, term deposits were priced on average 200 basis points below the cash rate. Now, they are 20 basis points above the cash rate.”
“While interest rates on deposits remain attractive and competitive for savers, when combined with the cost of wholesale funding, deposits continue to put pressure on the overall cost of funds for banks.”
He pointed to the most recent Statement on Monetary Policy, where the Reserve Bank noted that “bank funding costs – relative to the cash rate – have risen by about 50 basis points over the past year…[which] largely reflects the increased cost of deposits.”
“The Reserve Bank cash rate has reduced 150 basis points since November last year, but with banks, credit unions and building societies facing real funding cost pressures, not all of that has been passed on. The Reserve Bank calculates that the major banks have cut standard variable home loan rates by an average of 115 basis points.”
“For small business lending backed by residential security, banks have passed on more of the cash rate cuts, reducing the average loan by up to 120 basis points.”
“While the Reserve Bank has identified that average funding costs have increased by 50 basis points, banks have only passed on 30 – 35 basis points to most home and small business borrowers.”
“At the same time, banks have only passed on about half the cash rate cuts to savers with term deposits.”
</body></html>

Australian Bankers' Association says banks justified in not passing on rate cuts in full

<html><body>
The Reserve Bank has cut the cash rate to 3%, which is its lowest setting since the GFC.
NAB, among those lenders to tip a December rate cut, now also expects a further 25 basis point rate cut next year, probably around May.
Lenders are expected to once again hold off passing on the full rate cut to borrowers, with about 20 out of the 25 basis points expected to be shaved from variable rates.
NAB and Bank of Queensland have already announced they will pass on 20 basis points to borrowers on December 10 and December 21 respectively, while ING Direct will pass on <a target="_blank" href="/news">all 25 basis points </a>from December 24. 
Fixed rates are likely to continue to fall as lenders seek to lock in borrowers and circumvent the government’s ban on mortgage exit fees.
These are the lowest advertised mortgage rates based on listings by <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> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of December 5:
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">Mortgage View</td>
<td width="124" valign="top">Pro pack</td>
<td width="97" valign="top">5.42%</td>
<td width="116" valign="top">5.44%</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Blackboard special
</td>
<td width="97" valign="top">
5.42%
</td>
<td width="116" valign="top">
5.45%
</td>
</tr>
<tr>
<td width="134" valign="top">
My mortgage freedom.com.au
</td>
<td width="124" valign="top">
Low rate (LVR up to 75%)
</td>
<td width="97" valign="top">
5.43%
</td>
<td width="116" valign="top">
5.74%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="124" valign="top">
UHome loan for refinancing
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
<tr>
<td width="134" valign="top">
Nationwide Mortgage
</td>
<td width="124" valign="top">
True Saver home loan
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
My mortgage freedom.com.au
</td>
<td width="123" valign="top">
Fixed rate (LVR up to 75%)
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.78%
</td>
</tr>
<tr>
<td width="137" valign="top">
Community First Credit Union
</td>
<td width="123" valign="top">
Honeymoon
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.46%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="95" valign="top">
5.03%
</td>
<td width="114" valign="top">
5.54%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="132" valign="top">
Provider
</td>
<td width="131" valign="top">
Loan name
</td>
<td width="96" valign="top">
Rate
</td>
<td width="111" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="132" valign="top">Resi</td>
<td width="131" valign="top">Flexi Fixed Plus 75</td>
<td width="96" valign="top">5.09%</td>
<td width="111" valign="top">5.99%</td>
</tr>
<tr>
<td width="132" valign="top">
UBank
</td>
<td width="131" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="96" valign="top">
5.13%
</td>
<td width="111" valign="top">
5.40%
</td>
</tr>
<tr>
<td width="132" valign="top">
Pacific Mortgage Group
</td>
<td width="131" valign="top">
PMG Fixed
</td>
<td width="96" valign="top">
5.19%
</td>
<td width="111" valign="top">
5.43%
</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 target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
</body></html>

A guide to the lowest rate home loan offerings fixed and variable as of December 5 as RBA cuts cash rate to 3%

<html><body>
The Reserve Bank has cut the cash rate to 3% today, as tipped by most economists.
The new setting is the lowest the cash rate has been since a period from April to September 2009, following the GFC.
Traditionally, the RBA is <a href="/news">reluctant to cut rates in December</a>, doing so at fewer than a third of December monetary policy meetings going back to 1990.
A 25-basis-point rate cut, if passed on in full by lenders, will save a borrower with a 25-year mortgage of $300,000 about $48 per month.
“The Reserve Bank has boosted consumer confidence in time for what is traditionally the most expensive season of the year. Even though rate cuts won’t be filtered through to most variable mortgage holders until January, borrowers are likely to feel more positive about spending money this Christmas," says Michelle Hutchison, spokesperson for financial comparison website RateCity.com.au. 
“Borrowers with a typical $300,000 mortgage can expect to save about $40 in monthly repayments from next month, as most lenders are likely to pass on 20 basis points. But there’s a significant difference between what lenders will pass on and the interest rates they offer.
“For instance, following the last rate cut in October, lenders passed on between 4 and 25 basis points according to RateCity. Variable interest rates range from 5.4% up to 7.2%, which is worth about $352 in extra monthly repayments for a $300,000 home loan (over 30 years).
“If you have time off over Christmas, borrowers should take advantage of their spare time by finding out how much your lender passed on, what your interest rate is and how it measures up to the rest of the home loan market.”
The RBA would have taken into account a benign inflation rate, house prices flat and manufacturing sector continuing to contract at a sharp pace and flat retail sales in October.
Earlier today, the ABS reported that <a target="_blank" href="https://www.propertyobserver.com.au/residential/dwelling-approvals-fall-by-greater-than-expected-76-in-october-abs/2012120458278?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">building approvals fell 7.8%</a> in October, greater than expectations of a 1.6% fall. Mortgage holders must now wait to hear over the next few days how much of the rate cut will be passed on by lenders to borrowers.
ANZ mortgage holders have a long wait - until Friday, December 14, - to hear if the bank will reduce its variable rates as part of its independent interest rate decision on the second Friday of every month.
Speaking to David Koch on Sunrise last week, Aussie Home Loans boss John Symond said he did not expect the banks to pass on the full rate cut, but probably 20 out of 25 basis points.
The Reserve Bank’s monetary policy committee will next meet in February – there is no meeting in January.
</body></html>

RBA delivers some Christmas cheer to home borrowers with December rate cut

<html><body>
Sentiment has turned strongly in favour of a December 4 RBA cash rate cut.
Of the 28 economists surveyed today by Bloomberg, 19 are tipping the RBA to cut the cash rate to 3% next week. This is up from <a target="_blank" href="/news">15 out of 26 </a>who tipped a rate cut last week and 12 out of 25 who tipped a rate cut two weeks ago.
This would equal the lowest cash rate setting, which was in place between April and September 2009.
The Commonwealth Bank continues to expect the RBA to leave the cash rate unchanged, but NAB has changed its forecast to a rate cut, joining ANZ and Westpac.
Westpac subsidiary St.George Bank is tipping the cash rate to remain on hold in December.
St.George Bank will have bragging rights over Westpac’s Bill Evans, should the RBA keep rates on hold.
Looking ahead to 2013, twenty out of 28 economists don’t expect a rate cut in the first quarter of 2013.
Monday will see some important data released which could have a bearing on the RBA’s decision.
The RP Data-Rismark house price index for November is released with economists forecasting a 1% fall in the median house price.
Retail figures will also be released for October with economists expecting a rise of 0.4% following an increase of 0.5% in September.
Just ahead of the announcement, building approval figures for October will be released with economists tipping a 1.6% drop in total dwelling units approved.
</body></html>

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News