<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" />

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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.

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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;

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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>

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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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NAB has joined Westpac and ANZ by forecasting the Reserve Bank to cut the cash rate next week (December 4) to 3% and says there is potential for a further rate cut next year in May, but it could be as early as February.
The bank had previously forecast just one more rate cut in the current easing cycle in February.
“We now expect the next RBA rate cut of 25 basis points on December 4 but it is still line ball,” says NAB chief economist Alan Oster.
“In a sense, not much has changed but there has been enough evidence to tip our call over the edge.
“Data released over the past month have all but confirmed a weak GDP outcome for the September quarter and provide little evidence of any improvement into the December quarter.
“Not helping the economy is a still high Australian dollar, despite the recent softening in commodity prices, which is keeping on-going pressure on industries outside of mining. Softer commodity prices are raising concern about the near-term outlook for mining.”
"Much of the recent strength in the domestic economy has hinged on strong investment spending, led in particular by mining and supporting industries. While near-term capital expenditure appears to have improved modestly, official data suggest the outlook for investment has weakened again, with capital spending plans scaled back across the mining and non-mining economy," says Oster.
Oster also mentioned NAB's October Business survey, which reported the weakest business conditions since mid 2009.
"We now also see potential for a further cut next year, taking the cash rate to 2.75%, though the RBA is likely to hold off on a second cut until it has more information on the labour market, the Australian dollar and activity in both the domestic and international economies.
"At this stage we have tentatively put the further rate cut in May 2013 but if the local data continues to deteriorate it could come as early as February 2013."
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lschlesinger-FZcF9M3vE6

NAB changes interest rate cut call to December with one more in 2013

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Aussie Home Loans boss John Symond has raised more than $36,000 over the month of "Movember", with his well-groomed moustache drawing comparisons to Clark Gable and Magnum PI.
<img src="/images/stories/2012/11/symo.jpg">
Symond was the face of the<a href="https://www.propertyobserver.com.au/industry-news/aussie-john-symo-joins-property-industry-movember-charity-campaign/2012112057966" target="_blank"> Aussie 'SyMOs'</a> – a team of 44 Aussie brokers and employees who all grew moustaches in support of the cancer and men’s depression awareness monthly charity campaign.
The team has <a target="_blank" href="https://www.propertyobserver.com.au/https://au.movember.com/mospace/3785433">ranked fifth out of 19,000 teams who have taken part in Movember</a>.
Speaking to David Koch on Sunrise this week, Symond said he’d asked his mates if he looked more like Hollywood icon Clark Gable or TV star MagnumPI and was told that he looked more Sergeant Schultz from Hogan’s Heroes with his catch phrase: “I know nothing”.
“Very cruel, my friends, very cruel,” said Symond, who plans to shave off his moustache as soon as the clock strikes midnight November 30.
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John Symond raises $36,000 plus for Movember with Clark Gable/Sergeant Schultz look

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The Senate Committee report into the post-GFC banking sector has called for an independent "root and branch" inquiry into the Australian financial system.
“While Australia avoided the worst of the crisis, this should not be allowed to result in complacency about the structure and performance of our financial system.
“There is now an opportunity to conduct a comprehensive examination of the banking sector and to debate what the post-crisis sector should look like and whether it is delivering what Australians want from it,” says the report.
The report follows more than 150 submissions from banks, mortgage brokers, borrowers, the RBA, non-banks and other industry participants as well as public hearings.
The inquiry was triggered over concern surrounding the handling by Bankwest of its loan book and a major focus of submissions related to the bank’s treatment of small business borrowers.
“Most of the evidence received by the committee was from aggrieved borrowers of Bankwest who alleged mistreatment by the bank after Bankwest was acquired by the Commonwealth Bank of Australia in 2008 at the height of the global financial crisis,” says the Senate committee report.
While noting the “many sad and distressing stories” that are now a matter of public record, the committee said the more challenging times presented by the GFC “placed extra stress on less robust and more speculative projects.
“In many cases, loans were sought for ventures that were a considerable risk even during the more stable economic environment that existed prior to the GFC."
 But the committee said this explanation did not apply to every case, “nor does it excuse Bankwest”.
“Under its previous owners Bankwest was willing to enter into these loans.
 “When its small business borrowers are experiencing difficulties, Bankwest has a duty to make genuine attempts to work with the borrower, to clearly explain what is happening and why, and to treat them with courtesy.”
As a consequence, the report calls on the Australian Bankers' Association (ABA) to meet with small business representatives to “develop a code of practice specifically relating to lending to small businesses” which provides greater transparency in lending contracts” and give SMEs access to valuation reports.
The report also acknowledges the “multiple upward pressures on the cost of funds since the crisis and it is likely that costs will remain elevated”.
“Banks continue to adjust to higher post-crisis funding costs as they compete for available deposits and rollover longer-dated wholesale funds obtained at lower pre-crisis prices,” says the committee’s report.
It calls for further steps to support the recovery of the securitisation market, which has “helped enable stronger competition in the sector” and recommends the abolition of the foreign investors’ withholding tax, recently doubled by the government, if it can be accommodated in the budget.
The tax is charged on income paid to foreign investors who invest in managed schemes, many of which fund large infrastructure and property projects in Australia.
The committee says the tax “distorts funding decisions and is an impediment to foreign banks competing in the Australian banking sector”.
“The tax burden may also be simply passed on to borrowers.”
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Senate committee calls for comprehensive banking sector inquiry, code of conduct between banks and SMEs and abolition of withholding tax

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Australia’s mutual lending sector – touted as a fifth banking pillar rival of the major banks – appears to have endured a less than productive time over the past 12 months.
The sector earns around three-quarters of its interest income from mortgage lending and has waged a prominent campaign reminding borrowers that mutual lenders act only in the interest of their members and, unlikely the major banks,  are not conflicted when it comes to passing on rate cuts by also having to satisfy shareholder demands for rising profits.
The country’s biggest credit union, CUA, has run an<a href="https://www.youtube.com/watch?v=bjfOv-otGFU&amp;feature=plcp" target="_blank"> advertising campaign </a>urging customers to ditch the major banks with images depicting each of the four banks (NAB, ANZ, CBA and Westpac) as empty suits, with the slogan of the campaign being “Make the big banks invisible”.
In addition, credit unions and building societies compete strongly on low rate mortgage product offerings.
However, the sector does not appear to be gaining any ground on any of the second-tier banks (ING Direct, Bank of Queensland, Macquarie), let alone provide any real competition to the big four, according to the latest APRA figures.
APRA figures for the year to September show that on almost every financial measure, the fortunes of the mutual lending sector have declined: its share of the lending pie has shrunk, returns to shareholders have fallen and profitability has been eroded.
Some of this decline has been structural with total number of credit unions declining from 100 to 92 due to four credit unions converting to banks and three mergers while building society numbers have fallen by one, with the Heritage Building Society converting to a bank.
The effects of these lenders becoming banks and from industry consolidation resulted in credit unions' total housing loans decreased 12.5% to $33.6 billion over the year while building societies' total housing loans decreased 12.7% to $16.2 billion over the year.
These consolidations and ‘defections’ to the banking sector explain to a certain extent the large drop in net profits over the period – though not all of the decline - but also suggest that the industry has lost some of its more profitable operators.
The combined net profits after tax for credit unions fell 21% from $363.6 million in for the year to September 2011 to $286.2 million for the year to September 2012.
Building societies profits slump was even greater, falling 29% from $166 million to $117 million.
Some of this decline can be attributed to Heritage Building Society becoming Heritage Bank and not being included in the results for the sector - Heritage managed a $31 million profit result in its most recent annual report.
Looking at key ratios – return on equity has fallen 0.7% to 0.5% over the course of the year while return on equity has fallen from 8.6% to 6.7%.
Putting this all into perspective, the net profit earned by the banking sector – predominantly the big four banks – for the year to June (September quarter data has not yet been released) was $26 billion with the size of its lending book increasing by 7.5% to $1.33 trillion over the year.
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Latest APRA figures paint sober picture of mutual lending sector 

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Property prices are expected to grow by a maximum of 5% over 2013 but could remain flat over the course of the year, according to the findings of the 2013 Deloitte Australian Mortgage Report.
The findings are based on the sentiments of a roundtable discussion of senior executives from the major banks, non-bank lenders, mortgage brokers, mutual lenders and mortgage insurers.
Click to enlarge
<a href="/images/stories/2012/11/deloittenov28.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/deloittenov28thumb.gif"></a>
The sentiment from roundtable participants is that consumer confidence is the main reason borrowers are holding back.
In November, the benchmark <a target="_blank" href="https://www.propertyobserver.com.au/trends/consumer-confidence-soars-to-highest-level-since-april-2011-but-december-rate-cut-still-likely-westpac/2012111457828">Westpac-Melbourne Institute consumer confidence index</a> reached its highest level since April 2011, but is still up only 0.9% on a year ago – despite rate cuts totalling 125 basis points over this time frame.
“The sentiment of the roundtable was that despite the combination of interest rate reductions and stronger personal balance sheets, the current flat property prices combined with what was perceived as real systemic issues around consumer confidence, would be likely to keep borrowers sitting on the fence in 2013,” says the Deloitte report.
“However, given that Australia suffers an endemic shortage of housing stock, even in a slower market it is expected that property prices will remain ‘there or thereabouts’ if not achieve a modest level of growth. 
The key trend identified by the roundtable was householders continuing to deleverage their debt as well as investor confidence returning as "disillusionment with equities continues and property yields improve".
Deloitte financial services partner James Hickey says household deleveraging  is currently "mostly ancillary debt – credit cards and personal loans etc. – but it also includes the high end investment property sector.
“As interest rates fall, lenders are seeing borrowers taking the opportunity to reduce their mortgages rather than increase their spending,” he says.
As a consequence of this deleveraging, demand for mortgages is likely to remain at subdued levels, with settlements forecast to grow at around 5% compared with current annualised growth of 4.7%.
While this growth is modest against historical trends, the report notes that unlike other mature international markets like the US and the United Kingdom, “Australia’s mortgage sector has maintained momentum and continues to grow”.
However the days of 10% to 15% annual mortgage growth won’t be returning any time soon, Deloitte says.
The report says lenders will look to retain customers and cross sell them other products rather than “competing aggressively for new customers”.
And due to deposit costs remaining high, there will be further pressure on bank margins making it harder for banks to pass on RBA cash rate reductions in full.
The full list of round-table participants were Mortgage Choice (Michael Russell, chief executive officer), CUA (Tony Taylor, chief financial officer),  HSBC: (Alice del Vecchio, head of mortgages), Deloitte (Louise Denver), Genworth (Paul Caputo, chief risk officer, Pepper Home Loans (Todd Lawler, treasurer), Aussie Group (John McDonald, chief financial officer), AMP Bank: (Robert Slocombe, chief operating officer), Deloitte (Ian Harper, Deloitte Access Economics), Commonwealth Bank: (Clive van Horen, head of mortgages), Westpac Group (Nick Bateup, head of mortgages) and  Firstfolio (David Hancock, chief executive officer).
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Modest growth tipped for mortgage lending in 2013 but investor confidence returning: Deloitte

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Mortgage Choice CEO Michael Russell says licensed mortgage brokers “most certainly working in customers’ best interests” and are required by law to always act appropriately.
Russell is the most high-profile mortgage broking executive to speak out against a weekend News Limited article that suggested because brokers are paid upfront commissions by lenders, this creates <a target="_blank" href="https://www.news.com.au/opinion/borrowers-beware-you-must-shop-around-for-the-best-value-home-loan/story-fnfhswl8-1226523426843">a conflict of interest when recommending loans to consumers</a>.
Russell called the article written by News Limited national economics editor Jessica Irvine “ill-informed” following on from comments from mortgage broker Darren Moffatt who said it was <a target="_blank" href="/news">riddled with factual inaccuracies and omissions</a>.
“It is important to set the record straight to reassure Australian property buyers that contrary to the misinformation that was published over the weekend, licensed mortgage brokers are most certainly working in customers’ best interests," says Russell.
“Furthermore, there is legislation in place to enforce that mortgage brokers are acting appropriately,” says Russell, who heads up the biggest mortgage broking franchise in Australia.
“Under the National Consumer Credit Protection Act, it is compulsory for all mortgage brokers to be licensed and to fully disclose to a customer any commissions paid on their housing loan.
“Consumers should most definitely do their own research before deciding on which mortgage broker to use. But when they do, they can be assured that ASIC oversees stringent national legislation that imposes strict obligations on mortgage brokers to always make lender and product recommendations that are aligned to customers’ requirements, objectives and financial circumstances,” Russell says.
Also responding to the News Limited article, Phil Naylor, CEO of industry body, the Mortgage and Finance Association of Australia (MFAA) called the assertions in the articles that mortgage brokers did not act in the best interests of borrowers are completely “without foundation”.
“Mortgage brokers are now a trusted source of home loan information and cost effective products.
“It is law that all commissions are disclosed fully in loan documents for borrowers, including upfront, trail and volume commissions. The industry has been closely involved in the federal government’s creation of rules to protect borrowers, who find mortgage brokers a very valuable resource in making what is the largest investment of their lives,” Naylor says.
“This is evidenced by the fact that about 41% of all home loans in Australia are now written by brokers, the vast majority of whom are members of the MFAA, which ensures the highest professional, training and disciplinary standards for the protection of consumers," he adds.
Naylor says “transparency is a key aspect of how mortgage brokers operate and it is unfair to assert that brokers are not providing unbiased and comprehensive information as it is published in the loan documents borrowers review and sign.
Ray White-owned mortgage broking group Loan Market Group also defended the industry yesterday.
Loan Market corporate spokesman Paul Smith said the brokerage was disappointed by weekend newspaper reports claiming brokers were merely “salesmen” conflicted because of the commissions they received from lenders.
According to Smith, the rise in popularity for mortgage brokers has occurred because mortgage brokers enable borrowers to make considerable savings.
“The success of a mortgage broker is built upon providing a unique service where they can negotiate lower interest rates and fees and guide borrowers through a range of products most people simply wouldn’t have the time to research,” he says.
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Mortgage brokers required by law to work in customers’ best interests: Mortgage Choice

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Borrowers are likely to get a better deal through a subsidiary brand of a major bank in 2013 or by going to a mutual bank or non-bank lender, according to the latest Deloitte Australian Mortgage Report.
This finding is based on sentiments of a roundtable discussion made up of senior executives representing banks, non-banks, mutual lenders, mortgage brokers and mortgage insurers.
The report forecasts that banks will still chase market share targets and “aggressively compete for whatever growth exists”, but it is likely that in 2013 the majors will use their subsidiary brands as the “more aggressive price competitor, so protecting their main brand and its margins”.
“To meet borrowers’ demand for lowest price, it is also likely that the majors will use their subsidiary brands at a more aggressive price point and so shift up a competitive gear,” says Deloitte financial services partner James Hickey.
This approach is already in evidence, with Westpac subsidiary St George currently promising to beat any advertised home loan interest rate offered by the four major banks.
The special offer is available until December 21 for new home loan customers, with a $1,000 rebate also available to help new customers cover the cost of purchasing their new home.
To take advantage of this offer, customers need to provide a copy of the relevant bank’s advertisement (print, radio or online) showing the interest rate being offered.
“I encourage people to look around, find the cheapest rate advertised by one of the four major banks then contact us, so we can offer them an even better rate,” says  Andy Fell, general manager of St George retail banking.
Unsurprisingly, the offer does not mention that St George is 100% owned by big four bank Westpac.
Westpac has a standard variable rate of 6.71% with St George offering 6.69%.
Other subsidiary brands of major banks offering better deals than their parent banks include NAB’s online offering UBank, consistently offering among the cheapest fixed and variable refinancing offerings.
Bankwest offers an online variable rate loan at 5.58%, compared with parent bank  Commonwealth Bank’s best offering (excluding one-year introductory specials) of 5.9%.
According to the Deloitte report, “price, and the level of discounts offered to the standard variable rate (SVR), will be a lever which banks use to tap into market share”.


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The report also says that the current imbalance in market share power held by the major banks over smaller banks and non-bank lenders is unlikely to be resolved in 2013.
“The advantages which the majors have, through their stronger credit rating when raising funds, their scale in terms of operating cost efficiency, and their distribution reach, will continue to maintain the divide between them and smaller lenders.
“This is a justified reality in the market, and while calls for an inquiry into the banking sector have merit in terms of considerations of the impact of this on future competitiveness and innovation, smaller lenders should not expect government intervention in 2013 to tilt the balance in their favour," says the report.
But the report also says that smaller lenders “are and can continue to be successful if they play to their strengths (and understand their limitations)”.
“Key strengths are customer satisfaction, community engagement, member affiliations, and market and product specialisations and niches.
“They are limited in terms of competing with majors on a national scale, and by funding and capital constraints. These are realities which smaller lenders can use to their advantage when tailoring their business models.
Hickey says that while it is unlikely that major lenders will increase their risk profile in 2013, “there is opportunity for the smaller banks and non-bank lenders to leverage their risk appetite for ‘near prime’ borrowers”.
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Smaller banks and non-banks to offer borrowers better mortgage deals in 2013: Deloitte 

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Proactive property developers and sales agents are using phase A depreciation estimates, or "phase As", to help market developments to investors.
What is a phase A? A phase A depreciation estimate is a report that  shows the potential depreciation deductions available to a property investor, based on a specific property or development. Phase As are most commonly found when looking at a unit within a major development. The phase As are generally prepared in line with the major unit variations. For example, you’d have one report for the one-bedroom units and another report for the two-bedroom units.
The reports generally show a minimum and maximum range of deductions over the first few years of ownership. A good phase A will show 10 years' worth of minimum and maximum deductions, and will also break up the division 40 items (plant and equipment assets), which are things like the blinds, stoves, carpets and the like, from the division 43 component, which represents the building structure.
Property investors are becoming more aware of potential depreciation deductions. In fact, we’re receiving daily calls from prospective purchasers asking what the deductions would be per year on specific properties. Investors are also turning to Excel sheets and investment analysis templates to analyse their current and potential investment properties. These tools require the purchase price, rental income and interest rate in order to spit out some interesting figures and metrics such as rental yield, cost per week before tax and so on. Depreciation is a key component to many of these investment tools, and this leads to investors asking sales agents what their likely deductions are if they purchase the listed property. A good sales agent will have a phase A ready to hand to the investor.
Phase As provide developers and sales agents an easy way to show the depreciation allowance available based on the specific property and are almost exclusively prepared free of charge by quantity surveyors. While depreciation is just one part of the investment decision, it can mean the difference between properties being unaffordable on a weekly basis to manageable or even cashflow positive.
Why do quantity surveyors prepare phase As free of charge?
The phase As are merely estimates, but they’re generally very accurate. However, a phase A report cannot be used by a property investor to calculate their depreciation entitlements at tax time. The investor would need to engage the quantity surveyor to provide a full capital allowance and tax depreciation schedule specific to the property purchased, in the purchaser's name and based on the settlement date and purchase price. The good news is that you’ll often be able to have a full report prepared at a reduced fee due to the quantity surveyor's familiarity with the development.
 
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How is a phase A prepared?
Most phase As I’ve prepared personally have been for properties under construction. This means that I’ve needed to source the plans for the development and the schedule of inclusions. This is a very accurate way of providing an estimate as the exact floor area is known, and there’s normally a great amount of detail about the types of kitchen appliances, floor coverings and the like. It’s also something that agents always seem to have ready at hand, as it often forms part of their advertising anyway.
Other phase As can be prepared on established properties where there are no plans or inclusions lists available. These include commercial properties or individual established houses. The best way to prepare an estimate is based on the estate agents' photos and notes. Simply looking up the property on a website can provide excellent photos of the plant and equipment items. The size of the property can be tricky to estimate. However, we can often find the size of the property through some of our search information providers. The age of the property is one of the most crucial considerations when preparing estimates on established properties, but the construction completion date is often on record at the local council. Wherever the level of detail is poor, the minimum and maximum depreciation ranges will tend to increase. These estimates still provide a good idea of the potential deductions, and the accuracy can be increased where more detail or information becomes available.
Phase A reports are generally three to five pages long with some information specific to the property, advice on having a full report prepared, but the most important part is the figures themselves. Below is an example of some estimates I’ve prepared on a new residential property for sale.
<img src="/images/stories/2012/11/mortlocknov27.gif">
You can see the box on the top left hand side shows the maximum range, with the plant and equipment items and the division 43 component adding to make the total depreciation. The property is likely to achieve between $8,112 and $9,554 worth of depreciation deductions within the first full year under the diminishing method. The graphical analysis simply follows the figures within the minimum and maximum ranges and charts them to show the decrease in deductions over each subsequent year, and the cumulative deductions over time. You can see that after 10 years, the property is likely to achieve over $60,000 worth of depreciation deductions.
Phase As are a fantastic tool to market a property that is geared towards property investors. A unit development of 30-40 units is surely to end up with a number of investor purchasers. These estimates enable investors to analyse the potential cash flow of the property and make a more informed investment decision. For developers and real estate agents, the reports represent a free tool to assist the prospective purchasers with the information they need to progress towards the decision to purchase or keep looking. No major development should be without a phase A.
Mike Mortlock is a director of <a target="_blank" href="https://www.mcgqs.com.au">MCG Quantity Surveyors</a> specialising in tax depreciation schedules for property investors. <a target="_blank" href="https://twitter.com/mike_mortlock">Mike can be followed on Twitter</a> 
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mmortlock-YX58RgDaQB

Understanding phase A depreciation estimates, and how they can save you money

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Confession time: I'm a big fan of Jessica Irvine.
I've read her stuff for years in the SMH and Fairfax and have almost always found myself nodding furiously in agreement. I love her brand of accessible, econo-political insight. It's rare for an economist to effectively deconstruct big issues for the masses, and rarer still to offer common sense solutions. That she regularly does both, is a real testament to her talent and value as a writer.
Recently she moved to News Ltd and now commands a much larger audience. Her column is syndicated out through the Sunday dailies such as the Sunday Herald Sun, The Sunday Telegraph, and Sunday Brisbane Courier Mail.
It's a pity then, that so many people would have read <a target="_blank" href="https://www.news.com.au/national/brokers-advice-costly-for-buyers/story-fndo4bst-1226523336091" title="Jessica Irvine Mortgage Brokers">her howler of a column today. </a>It’s a real shocker.
Her attack on mortgage brokers might make for a nice headline, but it’s riddled with factual inaccuracies and omissions. It’s not even a real story – everyone knows that brokers are paid commissions by the lenders and that this is how it’s (mostly) kept as a free service to consumers. Borrowers themselves use brokers for convenience, product knowledge, and access to many lenders so they can more easily get a better rate and save on interest. Several iconic household brands such as <a target="_blank" href="https://www.aussie.com.au/" title="Aussie">Aussie</a> and <a target="_blank" href="https://www.mortgagechoice.com.au/" title="Mortgage Choice">Mortgage Choice</a> have been built on this premise. It’s not news.
But most damning of all, is her total failure to understand the crucial role brokers play in keeping some semblance of competition in our bank-dominated mortgage market. More on this in a moment.
First, the errors. Early in her piece she claims that:
"Brokers are failing to adequately disclose the commissions they receive from lenders when they sign up borrowers for a loan.”
Really? What’s the basis for this assertion? Because I can’t find one in her column. It also ignores the reality of <a target="_blank" href="https://www.comlaw.gov.au/Details/C2012C00083" title="NCCP">the government’s recent efforts to legislate against this concern (among others).</a> In 2009, they introduced the National Consumer Credit Protection (NCCP) act, and substantially lifted requirements for broker disclosure on commissions. If, as she claims, brokers are not disclosing, then the bigger story would be the failure of government policy. Strange then, that we do not hear about this.
In fact, it’s impossible for any authorised credit representative (broker) not to disclose exactly how much they’re getting paid (unless they’re deliberately breaking the law). The main document for this is the “Credit Proposal Disclosure” form, but there’s also the “Credit Guide” and the commissions are disclosed again the lender’s loan offer contract.
That’s lot of disclosure in any one’s book.
Jessica makes the point that brokers aren’t required to disclose the commission rates of every-single-lender, only a short list, so there is potential for brokers to recommend lenders that pay a higher commission. Technically this is true. And no doubt, some brokers (a very, very small minority I would say) might abuse this. However, the law again requires that brokers offer borrowers a choice of lenders and rates, and the practicality of the process is that most brokers have software that compares hundreds of mortgage products right in front of the client.
 
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Now, her omissions.
Jessica proclaims the laudable information and convenience of online comparison sites such as<a target="_blank" href="https://www.iselect.com.au/" title="iSelect"> iSelect</a> and <a target="_blank" href="https://www.ratecity.com.au/" title="Rate City">Rate City</a>, in stark contrast to mortgage brokers who are apparently compromised by commissions and “conflict of interest”. It’s true, these sites have many great qualities and pose a real threat to brokers –<a target="_blank" href="https://www.theadviser.com.au/breaking-news/7957-online-labelled-the-next-big-threat" title="Online threat to mortgage brokers">something I’ve been banging on about for a while now</a>. But she’s left out a crucial detail here: these sites also receive income from banks and lenders for introductions to potential borrowers. Here are the terms from the RateCity site:
“We make money by generating qualified leads for financial institutions. A lead is generated when our users visit a financial institution's website via a link from the RateCity website. If you visit a bank's website via RateCity, we may get paid either for that click itself, or more likely, for you "doing something" with the institution - for example, opening an account, or completing an application form on the bank's website.”
How is this different from what mortgage brokers do? In the case of iSelect, they're actually an online broker!
Here’s a quote from their site:
“iSelect receives payment of commissions from participating lenders (via our aggregation partner, Australian Finance Group Limited, ABN 86 148 217 181 ('AFG') for mortgage products sold via the services referred to on this website. You are not required to pay iSelect for the use of the website.”
This is not to knock either organisation, simply to highlight the sloppy journalism in Jessica’s article. These are very serious omissions that in my view, serve her readers poorly. One can only hope they were the result of a zealous sub-editor, not lazy research.
Finally, brokers are not just commission-earning machines.
Mortgage brokers have been called many things over the years, but <a target="_blank" href="https://www.news.com.au/opinion/borrowers-beware-you-must-shop-around-for-the-best-value-home-loan/story-fnfhswl8-1226523426843" title="Washing machine mortgage brokers">Jessica’s comparison to “washing machine sales people” is a new low.</a> I know many brokers, who, with 30 years plus banking experience, a Certificate IV, a Diploma of Mortgage Broking, and hundreds of very satisfied clients would be insulted at the analogy, but this is beside the point.
The real point is that the comparison is erroneous. In trying to illustrate that a mortgage is a commodity item sold just like a washing machine, she has seriously erred. For a start, a mortgage is a much more complex product, with deep financial and emotional implications for the consumer. This is a comparison only an economist could love. But most importantly, her analysis ignores the fundamental issue of mortgage market dynamics.
In the fragile eco-system that is the Australian mortgage market, brokers play a vital role in keeping the flame of competition alive. Yes, they originate nearly half of all mortgages, but for non-bank lenders the figure would be closer to 95%. They are the main (sometimes only) distribution channel for non-bank lenders and regional banks,  who over the last twenty years have helped cut the interest margins big banks charge their customers from 4% to well under 2%. This competition from non-banks lenders has been an immeasurable win for consumers, but it simply would not have been possible without a mortgage broker distribution channel.
In fact, brokers were so good at delivering consumers a better deal from lenders outside the big four banks that by 2007 non-bank lender had 20 per cent of the mortgage market. Thanks to the GFC, and <a target="_blank" href="https://www.openforum.com.au/content/mortgage-exit-fees-why-abolishing-them-will-hurt-industry-kill-competition-and-enrage-consum" title="Mortgage exit fees">some cack-handed government policy</a>, just five short years later the big four banks now once again control around 90 per cent market share. Is this good for consumers?
Some journalists complain when the banks jack up their rates. But banks are only able to do this because competition has diminished. What would happen if commissions, and therefore, brokers disappeared entirely? Would banks pass on the cost saving to consumers in the form of lower rates? We know the answer. Brokers are a bulwark for consumers against complete bank dominance. If, or when, broker market share declines as a result of rising volumes to bank proprietary online channels, it's likely we'll see their rate margins return to the higher levels of the bad old days.
Like any industry, mortgage brokers are not perfect. And yes there are some genuine issues with commission-based incentives; Jessica rightly highlights bonus volumes as an area of concern. However, the industry has come a long way, is now fully-regulated with a high degree of compliance, and continues to serve the interest of consumers well. One day the online channel may take over and brokers might become extinct. But in the meantime, busy, stressed Aussies will continue to enjoy the convenience, choice, and interest savings that mortgage brokers provide, regardless of the twaddle good journalists even sometimes publish.
Darren Moffatt is owner and director of the mortgage broker business <a target="_blank" href="https://www.seniorsfirst.com.au/" title="Seniors First">Seniors First</a>. He is also CEO of <a href="https://www.housenet.com.au" target="_blank">Housenet.com.au </a>
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Mortgage brokers are not washing machine salesmen: Darren Moffatt

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The former ANZ Banking Group deputy chief executive Bob Edgar has called for tougher laws governing the non-bank lending sector following the collapse of Banksia and Provident Capital.
Edgar said it was “surely no accident” that Banksia chose to include the word “bank” in its name.
“Anything that has the word ‘bank’ in it or uses the word ‘bank’ in a prominent fashion is effectively purporting something about itself,” said Edgar in an interview with the Australian Financial Review.
Edgar says it is the responsibility of prudential regulator APRA to get the laws changed to prevent Banksia using such a name.
Banksia collapsed in October owing 3,000 small investors a combined $650 million while Provident Capital collapsed in July owing investors over $100 million.
Both Banksia and Provident Capital’s debenture funds come with no government guarantees.
ASIC announced on October 31 the setting up of an internal taskforce to look at the failure of Banksia and regulation of the wider Australian unlisted debenture sector.
Edgar, who is now the chairman of Centro Retail Australia after a 25 year career at ANZ, also had a go at federal treasurer Wayne Swan for urging borrowers to seek an alternative to their bank following interest rate decisions.
“The political process has to accept some of the blame that it has encouraged people to believe they are not getting a fair and reasonable risk- adjusted return from the banking sector and they should look elsewhere," he said.
Edgar also called on the major banks to take a “higher profile on corporate matters through leadership and much more engagement with politicians”.
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