Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

Joel Robinson

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

<html><body>
The unemployment rate holding firm at 5.4% in October should not prevent the RBA from cutting the cash rate to 3% on December 4, says ANZ.
Markets had tipped the unemployment to rise to 5.5%.
ANZ says that ongoing softer labour market conditions prevail and support its view that the RBA will need to reduce the cash rate further, with a 25-basis-point rate cut “pencilled in for December”.
Borrowers should take note of this forecast – ANZ was the only major bank to correctly tip the RBA to leave the cash rate on hold on Melbourne Cup Day in November.
According to ANZ, the key metric is not the overall unemployment rate, but the "employment-to-population ratio", which “fell a little further, meaning that jobs growth is not keeping pace with population growth”.
“The less-volatile, and in our view more important, ANZ job ads series points to further declines in this ratio coming months,” says ANZ.
EMPLOYMENT-TO-POPULATION RATIO VERSUS ANZ JOB ADS 
<img src="/images/stories/2012/11/anznov9.gif" width="470">
Sources: ABS, ANZ 
“Population growth is strengthening in Australia so stronger employment outcomes are necessary to stop upward pressure on the unemployment rate.
“At current rates of population growth (+27,000 per month), 17,000 net new jobs are required each month to keep the ratio of employment to population steady and prevent the unemployment rate rising (barring lower participation),” says ANZ.
There were 10,700 more people employed in October – well below the 17,000 required, while ANZ also points out that the ABS trend measure of employment growth has remained in the 2,000 to 2,500 range for the past four months, “which is clearly weak”. 
According to ANZ, the unemployment rate remaining unchanged at 5.4% in October, following a “sharp 0.3 percentage point jump in September” confirms that “Australia’s labour market, while gradually deteriorating, is not collapsing”
The bank forecasts the jobless rate to rise to around 5.75% by mid-next year.
Taking a look at the jobs data, CommSec chief economist Craig James says there is “something for everyone”.
“The optimists could focus on the ongoing rise in full-time employment over the past four months and conclude all is fine.
“The pessimists would look at the fall in the participation rate and hours worked and conclude something more concerning."
But he says what is clear is that the labour market is “treading water”.
“Yes, it was encouraging that employment grew but more forward looking indicators like job advertisements have suggested that further labour market gains may be more circumspect. In fact internet and newspaper job advertisements have fallen for seven consecutive months, suggesting job growth is likely to flat line in coming months,” says James.
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lschlesinger-FZcF9M3vE6

ANZ finds gloom in jobs figures to suggest December RBA rate cut is likely

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John Symond’s Aussie Home Loans has reported a 27% year-on-year rise in both mortgage lodgement and settlements in October, its best monthly results since acquiring the Mark Bouris-founded Wizard Home Loans franchise in early 2009.
The October results build on a successful first quarter for Aussie, which recorded an overall settlement increase of 19% over the last year.
Aussie says the results reflect interest and enquiries from home buyers and refinancers and are a reflection of its marketing campaign “It’s smart to ask” fronted by Symond himself as well as more customer care initiatives and increased productivity from its 750 mortgage brokers.
The mortgage broker and lender, which is one-third owned by the Commonwealth Bank, did not provide actual dollar figures with this update.
“We have not seen enormous sales results like this since March 2009, when we acquired Wizard, so these results are exceptional, considering the soft market conditions and given they don’t include any acquisitions or other anomalies,” says Symond.
“Our first quarter has also been pleasing, with profit above budget as our sales team continues to deliver record settlements, supported by strong results from our Aussie home loan and non-mortgage product range.”
Aussie says all states recorded “strong settlement growth versus the prior year” but says there were “stellar performances from WA and Queensland”, which recorded 53% and 42% increases respectively.
Leads were up 35% on last year and at their highest level since 2006, “demonstrating continued customer support for the Aussie brand and mortgage broking overall”.
“Despite widespread pessimism about the state of the housing market, it appears that house prices have bottomed and there is a slight improvement in consumers’ confidence,” says Symond.
</body></html>

Aussie Home Loans reports best monthly results since 2009 Wizard acquisition

<html><body>
The unemployment rate remained unchanged at 5.4% in October, according to the latest seasonally-adjusted ABS update.
This was better than market expectations of 0.1 percentage point rise in unemployment to 5.5%.
The unchanged unemployment figure will be noted by the RBA as it thinks ahead to its last monetary policy meeting of the year on December 4.
It will also note this week's September retail trade figure, which also rose above forecasts by 0.5%.
Commonwealth Bank chief economist Michael Blythe says “the door to further rate cuts is still firmly ajar” but says the emphasis will be on inflation, with the next CPI quarterly figure only out in January 23.
"The main impediment to lower rates, however, appears to have been the third quarter CPI readings that were 'slightly higher than expected'
"So the message from the RBA’s [November] decision to remain on the sidelines this month is that inflation trends have become a little worrying.  And the Bank will presumably want to wait for the next round of price readings in late January before deciding whether further rate stimulus is appropriate.  The February Board meeting looks to be the next 'live' meeting for policy action," he says.
CommSec chief economist Craig James says rate cuts alone may be insufficient to provide the stimulus necessary to keep economy growing at a trend pace and prevent the unemployment rate from rising.
“Confidence and expectations will be all-important on whether further rate cuts are required, he says.
In its labour force update, the ABS reported that over October, the number of people employed increased by 10,700 to 11,523,200 driven by a strong rise in full-time employment, up 18,700 people to 8,130,100 offset by decreased part-time employment, down 8,000 people to 3,393,100. 
The number of people unemployed decreased by 8,800 people to 653,200 in October.
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October unemployment unchanged at 5.4% and better than forecast raises bar higher for December rate cut

<html><body>
New global banking regulations will restrict funding to commercial property developments in Australia, according to the banking industry.
Westpac’s Gail Kelly says new regulations, named Basel III, raising the amount of capital and liquid assets banks must hold means Westpac can no longer finance risky commercial properties.
“Commercial property, unless it is delivering cross-sell activity, like the transactional business, and infrastructure, become less attractive from a return on equity point of view [as Basel III take effect],” Gail told the Australian Financial Review.
“With commercial property, it’s not just the high level of capital required [as a ratio to assets weighted for risk] but also the through the cycle impediments [structurally higher provisions for bad debts].”
She says that while bad debts in the industry are down, Westpac will be approving less loans to commercial developers.
Kevin Nixon from the Institute of International Finance, which works for global banks, wealth managers and insurance companies, says it is clear that the new capital and liquidity requirements would restrain lending to long-dated riskier projects such as infrastructure and commercial property.
“There are two elements - the extra capital required to be set against these loans but also the proportion of the loan which must be funded by either deposits or long-term debt,” Nixon told The Australian Financial Review.
“So that’s why long-dated infrastructure and long-dated commercial property becomes problematic.”
Nixon says the uncertainty about upcoming regulations, to be introduced in 2013, is restricting lending from banks.
“[The new regulations] will both increase and sustain the emphasis that banks place on deposit funding from retail customers, which will impact property funds and real estate investment trusts,” Brad Carr from NAB says.
He says this shift makes it more difficult for the funds and trusts to attract investors as the relative risk-reward skews to bank deposits, not property.
“The property funds that are best placed to absorb this impact will be the ones with greater access to raise capital from different sources,” Carr told The Australian Financial Review.
“It will be increasingly important to have a broader array of investor bases and funding options available, from domestic institutions, offshore bond investors, hybrid markets or bank debt.”
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awalsh-7Ub9EypybQ

New global banking regulations to restrict funding of commercial property developments: Gail Kelly

<html><body>
Negative gearing should be viewed as a tool to get into a property investment rather than as a long-term strategy.
Investors should look to negatively gear over a short to medium time frame – no more than about five to seven years.
If you take a long-term view of your property investment, and property should always be a long-term consideration, if you are negatively geared for 20 years, that means that for 20 years you’re paying more money out of your pocket than you’re recouping from the property.
You need to view your investing in the same way you would a business. While it might be manageable to run at a loss for a short period of time as you establish and grow the business, it’s not sustainable long-term. At some stage your business – and your property investing – needs to be putting money back into your pocket.
Many people justify having their property negatively geared because they believe the capital growth of the property will make up for the losses in the long run.
While capital growth might have saved a lot of investors with negatively geared properties in recent years, I’d be cautious about relying on capital growth in the coming years.
Rather than focusing on capital growth, investors, particularly those on lower incomes, should be making investment decisions based on the income they can derive from their property.
Negative gearing generally works best for high-income earners than low-income earners. An investor on the highest marginal tax rate effectively gets 45¢ back for every $1 they spend on a negatively geared property. An investor on the lowest marginal tax rate gets 19¢ back for every $1.
When you calculate the net after tax cash flows of an investment property, being on a lower tax bracket means it’s actually costing more to run that strategy.
Ultimately, it’s actually the income that the property generates over time that is more important. For very long-term investments, it’s the income that has the most benefit and makes investing worthwhile.
Even if you get growth, that growth is really just making up for your losses, you’re not actually really moving forward.
It’s the surplus income over time – by having regular rent increases – that is going to make the difference.
A good mortgage adviser should be able to run some scenarios for you that will give you an idea of the cashflow of an investment property, potentially up to 20 years. These calculations will be indicative, but you’ll be able to see how much it’s going to really cost you.
It’s also important to seek advice from your accountant about the taxation implications of your investing.
Joe Sirianni is executive director of <a target="_blank" href="https://www.smartline.com.au/">Smartline</a>.
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jsirianni-sEFeNfmAJo

Negative gearing a tool, not a long-term property investment strategy

<html><body>
Mark Bouris's Yellow Brick Road franchise has confirmed a mortgage funding tie-up with Macquarie Group, part of an ambitious and distinctly long-term plan to take on the major banks as the fifth banking pillar.
In a statement to the ASX, Yellow Brick Road chief executive Matt Lawler said it had signed an origination agreement with Macquarie Bank, the financial services subsidiary of Macquarie Group, to "develop branded banking and wealth management products and services, including the terms of a new mortgage funding and distribution arrangement".
Macquarie will provide wholesale mortgage funding to Yellow Brick Road, allowing the franchise to expand its mortgage offering with plans for further wealth management and banking products in 2013. In conjunction with the funding from Macquarie Bank, Yellow Brick Road has launched a range of discounted mortgage offers as part of a plan to offer a “much-needed alternative for Australian customers”.
The financial services group has launched what it calls “an aggressively priced range of mortgage products” with the details of these on its website today under the heading “Smash your home loan”.
<img src="/images/stories/2012/11/smash.jpg">
These include an introductory variable rate mortgage priced at 5.5% for the first 12 months (among the lowest offerings in the market) and available to all "successful mortgage applicants", not just a chosen few who qualify for a discounted offer.
The rate reverts to 5.79% after the first year with a comparison rate of 5.77%. The website also lists the ongoing rates of the major banks and some of the regional banks, starting with Westpac at 5.9%, with savings ranging from $7,000 (for current ANZ customers who refinance with Yellow Brick Road) rising to almost $23,000 (for Bank of Queensland customers) over a 25-year period for a principal and interest loan of $300,000.
The products will be distributed through Yellow Brick Road’s 140 branches located across Australia – with a heavy concentration of branches in Sydney, Melbourne and Brisbane.
Yellow Brick Road will partner with Channel Nine to promote the offering, the same television channel that ran The Apprentice, featuring YBR executive chairman Mark Bouris as the host.
All of this is part of a campaign aimed at providing some competition to the banking sector, which controls 92% of the mortgage market and is heavily dominated by the major banks.
<hr class="system-pagebreak">
However, talk of being a fifth pillar in the mortgage lending space may be a little premature.
According to the latest APRA banking figures for September, the four major banks dwarf the rest of the market.
The Commonwealth Bank remains the biggest mortgage lender by some margin with a$308 billion loan book, followed by Westpac ($294 billion home loan book), NAB ($187 billion) and ANZ ($171 billion).
Many would argue that there already is a fifth pillar in banking, that being ING Direct, a subsidiary of the Dutch banking giant ING, which has a loan book of $37 billion and has a reputation for sharply priced online mortgage and savings products.
While Yellow Brick Road has impressively more than doubled its mortgage lending over the past year according to its 2012 annual report, ita loan book currently stands at just $855 million.
This is small change when compared with the major banks and also dwarfed by the $18 billion of loans under management that Wizard Home loans achieved. The defunct mortgage lender made Bouris his fortune – he sold Wizard to GE Money for around $500 million in 2004.
Macquarie does present Yellow Brick Roads with a strong financial services partner, with over $340 billion in assets on its balance sheet as well as strong track record as a mortgage funder. Macquarie provided non-banks with wholesale funds prior to the GFC – raising over $40 billion through securitisation.
As Stephen Bartholomeusz wrote yesterday in Business Spectator, Macquarie has an “exceptionally competitive source of funding for a large-scale entry into retail banking”.
And of course, Bouris himself will be the ringmaster, using his media connections and personality to promote Yellow Brick Road offerings.
“Cheap funding, low distribution costs and Bouris’ ability to market the brand represent a potentially potent competitive combination in a home loan market that is low-growth and where the margins have been compressed by the funding cost pressures,” says Bartholomeusz
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Yellow Brick Road confirms Macquarie Bank funding deal to challenge major bank mortgage dominance

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Borrowers looking to take a punt on future cash rate decisions by the RBA should listen to ANZ, according to CommSec chief economist Craig James.
ANZ was the only major bank to correctly tip the RBA to leave the cash rate unchanged yesterday at 3.25% with Westpac, Commonwealth Bank and NAB all forecasting a rate cut.
James tweeted:
<div class="stream-item-header" style="color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18px; background-color: #f5f5f5;"><a class="account-group js-account-group js-action-profile js-user-profile-link js-nav" href="https://twitter.com/craigjamesOZ" data-user-id="242979193" style="color: #999999; text-decoration: none;"> Craig James ?<s style="text-decoration: none; color: #bbbbbb;">@</s>craigjamesOZ</a></div>
Best interest rate forecaster this year: ANZ. I've looked at the 10 meetings. Most economists got it right on 7 of 10 meetings.
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</div>
The chief economist at ANZ is Warren Hogan.
The other economists (polled by Bloomberg last week) that correctly tipped the cash rate to remain on hold yesterday were from Barclays Capital, Citi, Goldman Sachs, J.P Morgan, Merrill Lynch and TD Securities.
 
 
 
 
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ANZ best at forecasting rate calls: Tweet of the day

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The aspirations of Mark Bouris to take on the major banks once again appear to be gathering steam with Macquarie Group tipped to provide wholesale mortgage funding to his Yellow Brick Road wealth management franchise business.
Yellow Brick Road has placed its shares in a trading halt today ahead of an announcement on Friday (November 9) in relation to speculation about "potential distribution deal with a major Australian Financial Institution".
Bouris has hinted at his desire to not only take on the major banks – as he did during the late 1990s and early 2000s through Wizard Home Loans – but also to obtain a banking license for Yellow Brick Road.
He hired former NAB home loans executive Matt Lawler as<a href="/news"> Yellow Brick Road CEO </a>last year.
A report in The Age, quoting “sources close to the deal” said Macquarie-funded home loans sold via Yellow Brick Road would seek to undercut the major banks by a full percentage point.
Bouris made his money from his Wizard mortgage broking business, which he eventually sold to GE Money for about $500 million in 2004.
He founded Yellow Brick in 2007 to sell investment services in former Wizard Branches and now has more than 140 branches across the country.
Aussie Home Loans bought the Wizard brand and franchise network from GE Money in December 2008, changing the stores to the John Symond brand.
Macquarie provides home loans through its banking and financial services group with APRA September banking figures showing that Macquarie has a mortgage book of around $4.5 billion, ranking it as the 14th biggest bank lender and a long way behind the smallest of the big four banks, ANZ, which has a mortgage book of $170 billion.
It also offers a portfolio of mortgage products aimed at both investors and first-home buyers.
Prior to the GFC Macquarie provided wholesale mortgage funding through its PUMA securitisation program but stopped originating new mortgages in March 2008 when the GFC made it significantly harder to access wholesale funding at competitive rates. It has since returned to the securitisation market.
Macquarie also has a play in the mortgage distribution space, facilitating the creation of aggregator Vow Financial through the merger of a number mid-tier mortgage broking businesses and maintains a minority holding in this venture.
In its most recent half-year results Macquarie notes that its “mortgages business continued to grow through targeted distribution and quality products”.
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Macquarie Group set to fund Yellow Brick Road home loan assault on major banks 

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The decision by the RBA to leave the cash rate on hold at 3.25% on Melbourne Cup Day took many economists, punters and borrowers by surprise.
Three out of four of the major banks had tipped the cash rate to fall to 3% with only ANZ making the correct prediction.
Westpac chief economist Bill Evans called yesterday’s post-decision statement by RBA governor Glenn Stevens “perplexing” noting that “comments on the domestic economy seem to be straining to identify good news”.
“Some signs of ongoing growth in consumption were identified; some indications of a prospective improvement in investment in dwellings were also noted while the housing market was described as "has strengthened" and business credit had increased. All these signs are correct but the improvement is tepid and should be further boosted with lower rates,” says Evans.
Despite the official borrowing rate remaining unchanged, borrowers can still find very low fixed and variable offerings.
The following results are based on advertised mortgage rates listed 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 November 7:
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">
Loans.com.au
</td>
<td width="124" valign="top">
Dream Catcher blackboard special
</td>
<td width="97" valign="top">
5.42%
</td>
<td width="116" valign="top">
5.44%
</td>
</tr>
<tr>
<td width="134" valign="top">
My Mortgage Freedom
</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">
UHomeLoan refinance only
</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">
Community First Credit Union
</td>
<td width="123" valign="top">
12 month fixed home loan
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.46%
</td>
</tr>
<tr>
<td width="137" valign="top">
Greater Building Society
</td>
<td width="123" valign="top">
Ultimate Home Loan Package Standard Fixed one year 
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.01%
</td>
</tr>
<tr>
<td width="137" valign="top">
My Mortgage Freedom
</td>
<td width="123" valign="top">
Fixed rate (LVR &lt;75)
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.81%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
Pacific Mortgage Corporation
</td>
<td width="133" valign="top">
PMG Fixed (three years)
</td>
<td width="97" valign="top">
5.19%
</td>
<td width="108" valign="top">
5.43%
</td>
</tr>
<tr>
<td width="133" valign="top">
Resi
</td>
<td width="133" valign="top">
Flexi Fix Plus 75
</td>
<td width="97" valign="top">
5.29%
</td>
<td width="108" valign="top">
5.99%
</td>
</tr>
<tr>
<td width="133" valign="top">
CUA
</td>
<td width="133" valign="top">
Residential fixed three years
</td>
<td width="97" valign="top">
5.30%
</td>
<td width="108" valign="top">
5.9%
</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 October 30 as RBA leaves cash rate at 3.25% 

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The two consecutive monthly rises in building approvals in August and September appears to have been a key factor in the RBA’s decision to keep the cash rate on hold at 3.25% on Melbourne Cup Day.
Building approval figures are seen as a forward indicator of future construction activity.
Today's monetary policy decision statement from RBA governor Glenn Stevens notes that there have been “some signs of ongoing growth [in the economy] though a return to very strong growth in consumption is unlikely.
Stevens goes on to say in the next sentence that while "investment in dwellings has been subdued for some time, over recent months there have been some indications of a prospective improvement".
In contrast, he says “non-residential building investment has remained weak”.
ABS data shows that the number of dwellings approved for construction rose 7.8% to 13,338 in September 2012 in seasonally adjusted terms following a 6.4% rise in August.
These two increases partially reversed a 21.2% decline in dwelling approvals in July.
Over the year to September, approvals for houses are down 1.8%.
However the peak residential building industry body, the Housing Industry Association, said the RBA had got its cash rate call wrong.
“Signs of a new home building recovery are tentative and cracks are already appearing, renovations activity is falling, housing prices are benign, and wider inflationary pressures are in check. Against this backdrop it is disappointing that rates were left on hold today,” says HIA chief economist, Dr Harley Dale.
“Today’s lack of action is inconsistent with the indication that was conveyed to households and businesses by a renewed easing of interest rates in October, which followed a mid-year period of steady rates and mixed messages,” says Dale.
</body></html>

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