<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

<html><body>
The federal government has removed the contentious doubling of the foreign investors’ withholding tax from its planned series of budgetary changes.
Instead the government plans to reintroduce the tax increase as a separate bill in the next few days.
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 raising of the current rate of 7.5% to 15% was due to kick in on July 1.
Assistant Treasurer David Bradbury still expects to see the bill passed in time for the next financial year but admits that it “continues to be a matter where there is some contention”, the Australian Financial Review reports.
But he adds that the government believes there is still a “very strong case” in support of the tax increase.
“We think it is appropriate that we implement these changes,” he says.
The raising of the tax threshold has been <a href="https://www.propertyobserver.com.au/tax/treasurys-doubling-of-withholding-tax-flawed-and-economically-harmful-property-council/2012061955192" target="_blank">slammed by the Property Council of Australia</a> (PCA), developer Lend Lease and managed funds representative body the Financial Services Council over fears it will scare off foreign investors.
Yesterday the PCA criticised the decision of a House of Representatives Economics Committee backing the doubling of the withholding tax.
“By doubling our withholding tax rate, Australia reduces its ability to compete with the lower effective rates of other countries” says Property Council chief executive Peter Verwer.
</body></html>

lschlesinger-FZcF9M3vE6

Government to introduce withholding tax increase as separate bill

<html><body>
The Property Council of Australia (PCA) has slammed the decision of a House of Representatives Economics Committee backing the doubling of the withholding tax charged for foreign investors who invest in Australian managed investment schemes. 
Many of these managed funds are used to fund big property and infrastructure projects. The new tax rate of 15% (up from the current 7.5% rate) is due to kick in on July 1. 
Government members on the committee backed the raising of the tax rate, while Coalition members backed a position held by the PCA that the tax should be scrapped because it discourages foreign investment. 
The tax hike has also been slammed by <a href="https://www.propertyobserver.com.au/tax/lend-lease-slams-15-withholding-tax-as-property-council-fails-to-convince-wayne-swan-to-scrap-it/2012053154915" target="_blank">property developer Lend Lease</a> and the Financial Services Council, which represents fund managers and superannuation funds. 
“The evidence provided by industry shows that Treasury’s reasoning is inadequate, flawed and economically harmful,” says Property Council chief executive Peter Verwer. 
“It is particularly galling that government members endorsed Treasury’s position despite Treasury’s repeated refusal to reveal its modelling on the impacts of a higher tax on the economy.” 
“Treasury didn’t even bother to assess the impact of a higher withholding tax on the federal government’s own revenue streams.”
His comments come soon after a <a href="https://www.propertyobserver.com.au/leisure/malaysian-reit-pays-%24415-million-for-marriott-five-star-hotel-portfolio/2012061455118" target="_parent">Malaysian investment trust payed $415 million for a portfolio of three five-star Marriott hotels,</a> with the deal going ahead despite the prospect of the higher withholding tax rate “causing some friction”, according to Mark Durran and Craig Collins of Jones Lang LaSalle Hotels, who negotiated the deal. 
Verwer says Treasury’s analysis of the tax hike is flawed on three counts. 
“First, Treasury says that international investors are more interested in Australia’s AAA credit rating than tax rates.” 
“Treasury doesn’t understand that investors actively compare tax rates in different countries to assess the relative impact on their investment returns.” 
“It should be obvious that after-tax returns are critical to investor decision-making,” he says. 
Secondly, Verwer says that Treasury “ignores any difference between the headline withholding rate promoted by a country and the effective rate – the rate actually imposed on investors.” 
“Treasury has not done its homework and has been conned into believing that other countries apply a 15% rate.” 
“In fact, most countries charge pension funds withholding tax of 5% or less, many charge zero.” 
“Other countries are determined to attract the patient equity capital of large pension funds, particularly when debt markets are increasingly unstable.”
“By doubling our withholding tax rate, Australia reduces its ability to compete with the lower effective rates of other countries.”
Lastly, Verwer says: “Treasury has failed to realise that a higher withholding tax will scare off international investors, which will reduce both economic activity and government revenue flows.”
“You can’t tax investment that doesn’t occur.” 
Verwer pointed to a recently released Allen Consulting Group report modelling the impact of the proposed withholding tax increase on tax takings and the broader economy. 
The report, commissioned by the PCA, shows that by 2015-16, instead of collecting $75 million, state and federal governments will only receive $36 million and GDP will shrink by $30 million. 
Both the Property Council and Financial Services Council say they have evidence that more than a $1 billion of global funds have already been directed to other countries or frozen, following the 2012 federal budget announcement.
In its defence, the government claims the new tax rate is a better balance of the needs of Australia to remain an attractive destination for foreign investors while ensuring a fair return.
Treasury is estimating a tax return of $260 million over four years generated from the withholding tax.
</body></html>

Treasury’s doubling of withholding tax ‘flawed and economically harmful’: Property Council

<html><body>
HSBC chief economist Paul Bloxham and Westpac senior international economist Huw McKay have come to different conclusions about rate cut expectations for the remainder of 2012 following the release of the minutes from the June 1 RBA monetary policy meeting.
Bloxham expects just one more 25-basis-point rate cut this year, taking the cash rate to 3.25%, while McKay expects three more taking the cash rate to 2.75% by December.
“We think the RBA is probably a little ahead of the curve, having cut rates last month,” says Bloxham. 
“With global risks still tilted to the downside, we continue to expect that there may still be one more 25 basis points cut in the second half of 2012, but it is a close call,” he says. 
Bloxham says interest rate markets pricing in 90 basis points in cuts is “overdone”.
He notes the more “upbeat” nature of the minutes compared with the post-meeting statement.
“Today's minutes reiterated that the 25-basis-point cut in June was insurance against the possible effect of weakening global conditions, which was afforded because inflation is expected to remain low. In their view, local conditions had not significantly weakened. 
“They also told us that the RBA viewed the decision to cut rates on 5 June as 'finely balanced'. 
“We agree. As we noted before the meeting, our view was that local conditions did not warrant a further cut in interest rates. The minutes seem to suggest that on local conditions alone, they would probably have left rates steady. But the cut was in response to weakening global conditions.” 
McKay, however, says the best policy response from the RBA would be to reduce the cash rate by a further 75 basis points by the end of the year.
“The month-to-month path for the policy rate to achieve that end point is difficult to define precisely, with the fluid nature of the European picture making the potential timing more event-driven than is usual,” he says.
“We feel that the best policy response given the balance of domestic and international forces would be to deliver 25 basis points cuts at successive meetings in July and August, before a final move in the December quarter.”
McKay agreed with Bloxham that the June decision was a difficult one for the RBA board, which was ultimately swayed in favour of a rate cut by global concerns.
“The minutes to the board meeting of June 5, which resulted in a 25-basis-point cut in the policy rate to 3.5%, imply very strongly that a large cut was not countenanced, and that if the decision was being made solely on domestic grounds, a cut would not have been delivered,” McKay says.
“The rationale seems to have been that there were enough elements of resilience in the domestic figures for the bank to take some time to assess the impact of past easing on activity, but that with the potential for global tensions to ‘intensify’ precautionary behaviour, the ‘finely balanced’ arguments turned in favour of a cut.”
</body></html>

HSBC expects one more rate cut following RBA June meeting, but Westpac says minutes suggest three more by December

<html><body>
The continued deterioration of the housing market despite lenders reducing mortgage interest rates to well below 1996 levels was discussed by the Reserve Bank board before it cut the cash rate by 25 basis points on June 1.
Overall, the minutes of the meeting  indicate that fears of a “softening” global situation spilling over into “precautionary behaviour” in Australia prompted the RBA to reduce the cash rate by 25 basis points at its June 1 monetary policy meeting.
It says the decision to cut rates was “finely balanced”.
The RBA notes that “in aggregate, housing prices continued to decline, and activity in the housing market remained weak”.
The board also acknowledged challenges facing new home construction, noting a “sharp fall in dwelling approvals in April partly accentuated by the introduction of new legislative guidelines in Western Australia”.
The RBA highlights that mortgage rates continue to fall and are now well below the average rate of more than 25 years.
“Short-term interest rates in Australia had fallen sharply following the board's decision in early May to lower the cash rate by 50 basis points,” says the RBA board.
“Following the cash rate announcement, most lenders had reduced their standard variable housing rates by between 30 and 40 basis points.
“As a result, the average interest rate on outstanding housing loans at present was about 40 basis points below the post-1996 average, while rates on small and large business loans were 30 and 60 basis points lower, respectively. Members discussed the strong competition among banks for term deposits and the continuing pressure this was having on the funding costs for Australian banks.”
The RBA notes that overall, data on the domestic economy appeared to be broadly consistent with the central bank's most recent forecasts.
“In particular, employment growth was picking up gradually, but the unemployment rate was still expected to move somewhat higher over the coming quarters. Output growth was expected to increase towards trend over the remainder of this year, and inflation (excluding the impact of the carbon tax) was expected to remain in the lower part of the 2% to 3% range.”
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RBA notes continuing decline in house prices despite low mortgage interest rates at June 1 meeting

<html><body>
The Commonwealth Bank is telling everyone it “CAN”, but it is ANZ and NAB that are steaming ahead this year when it comes to lending to owner-occupiers.
Analysis of APRA banking figures for the first four month of 2012 show that ANZ has written nearly $3.8 billion in owner-occupier mortgages and NAB more than $3.3 billion, growth of 3.2% and 2.6% respectively.
In comparison the Commonwealth Bank has written just $1.29 billion in new loans between January and the end of April (growth of 0.7%) while Westpac (including all its subsidiary brands) ranks outside the top four, managing $1.05 billion in new mortgages (growth of 0.6%).
Bankwest, owned by the Commonwealth Bank, wrote $1.46 billion (up 4%) in new loans ranking as the third biggest lender of 2012 with Suncorp also prominent with new lending totalling $1.14 billion – an increase of 5% over the first four months of the year.
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" nowrap width="62">
Rank
</td>
<td valign="top" nowrap width="155">
Bank
</td>
<td valign="top" nowrap width="82">
New lending Jan 1 to April 30
</td>
<td valign="top" nowrap width="92">
loan book  April 2012
</td>
<td valign="top" nowrap width="84">
loan book Dec 2011
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
1
</td>
<td valign="top" nowrap width="155">
ANZ
</td>
<td valign="top" nowrap width="82">
$3,795
</td>
<td valign="top" nowrap width="92">
$122,199
</td>
<td valign="top" nowrap width="84">
$118,404
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
2
</td>
<td valign="top" nowrap width="155">
NAB
</td>
<td valign="top" nowrap width="82">
$3,310
</td>
<td valign="top" nowrap width="92">
$128,602
</td>
<td valign="top" nowrap width="84">
$125,292
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
3
</td>
<td valign="top" nowrap width="155">
BankWest
</td>
<td valign="top" nowrap width="82">
$1,456
</td>
<td valign="top" nowrap width="92">
$37,098
</td>
<td valign="top" nowrap width="84">
$35,643
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
4
</td>
<td valign="top" nowrap width="155">
CBA
</td>
<td valign="top" nowrap width="82">
$1,287
</td>
<td valign="top" nowrap width="92">
$177,874
</td>
<td valign="top" nowrap width="84">
$176,588
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
5
</td>
<td valign="top" nowrap width="155">
Suncorp
</td>
<td valign="top" nowrap width="82">
$1,143
</td>
<td valign="top" nowrap width="92">
$22,004
</td>
<td valign="top" nowrap width="84">
$20,861
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
6
</td>
<td valign="top" nowrap width="155">
Westpac
</td>
<td valign="top" nowrap width="82">
$1,047
</td>
<td valign="top" nowrap width="92">
$167,292
</td>
<td valign="top" nowrap width="84">
$166,244
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
7
</td>
<td valign="top" nowrap width="155">
Bendigo &amp; Adelaide Bank
</td>
<td valign="top" nowrap width="82">
$787
</td>
<td valign="top" nowrap width="92">
$14,295
</td>
<td valign="top" nowrap width="84">
$13,508
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
8
</td>
<td valign="top" nowrap width="155">
Bank of Queensland
</td>
<td valign="top" nowrap width="82">
$381
</td>
<td valign="top" nowrap width="92">
$12,095
</td>
<td valign="top" nowrap width="84">
$11,714
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
9
</td>
<td valign="top" nowrap width="155">
Macquarie Bank
</td>
<td valign="top" nowrap width="82">
$287
</td>
<td valign="top" nowrap width="92">
$1,951
</td>
<td valign="top" nowrap width="84">
$1,664
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
10
</td>
<td valign="top" nowrap width="155">
Members Equity Bank
</td>
<td valign="top" nowrap width="82">
$260
</td>
<td valign="top" nowrap width="92">
$4,360
</td>
<td valign="top" nowrap width="84">
$4,099
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
11
</td>
<td valign="top" nowrap width="155">
Citigroup
</td>
<td valign="top" nowrap width="82">
$243
</td>
<td valign="top" nowrap width="92">
$5,011
</td>
<td valign="top" nowrap width="84">
$4,767
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
12
</td>
<td valign="top" nowrap width="155">
AMP Bank
</td>
<td valign="top" nowrap width="82">
$201
</td>
<td valign="top" nowrap width="92">
$5,333
</td>
<td valign="top" nowrap width="84">
$5,132
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
13
</td>
<td valign="top" nowrap width="155">
ING Direct
</td>
<td valign="top" nowrap width="82">
$166
</td>
<td valign="top" nowrap width="92">
$27,878
</td>
<td valign="top" nowrap width="84">
$27,712
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
14
</td>
<td valign="top" nowrap width="155">
Heritage Bank
</td>
<td valign="top" nowrap width="82">
$115
</td>
<td valign="top" nowrap width="92">
$3,014
</td>
<td valign="top" nowrap width="84">
$2,899
</td>
</tr>
<tr>
<td valign="top" nowrap width="62">
15
</td>
<td valign="top" nowrap width="155">
HSBC Bank Australia
</td>
<td valign="top" nowrap width="82">
$40
</td>
<td valign="top" nowrap width="92">
$3,500
</td>
<td valign="top" nowrap width="84">
$3,460
</td>
</tr>
</tbody></table>
Source: APRA Figures are in millions
Suncorp Bank head of personal lending Tony Meredith attributes the growth in its mortgage lending pipeline in recent months to “an attractive product and service proposition in target markets and a renewed focus on the broker channel”.
Growth has come from the bank’s key target markets in the mortgage space – refinancers and first-home owners.
“We’ve been growing strongly in the broker space, having reaffirmed our commitment to, and investment in, this important channel through a range of technology, commission and servicing improvements,” Meredith tells Property Observer.
“Suncorp Bank consistently has greater customer satisfaction scores than the major banks for both personal and business lending. We continue to see disenfranchised customers of the major banks make the switch to Suncorp Bank, testament to our strong customer proposition in making it easier to get a good value home loan, suited to the individual’s needs.”
Smaller banks feature prominently on the list, with Bendigo &amp; Adelaide Bank managing mortgage lending growth of 5.8% and Members Equity bank 6.3%.
ING, which has the sixth biggest mortgage book (or fifth if you put Commonwealth Bank and Bankest together) has written just $166 million in new owner-occupier mortgages over the first four months of the year and ranks 13th, behind a swathe of smaller lenders.
Lisa Claes, executive director of direct business at ING Direct, says the bank is satisfied with its current rate of mortgage growth, which she says is “on a par of where it has been since the GFC”.
“We are not driven by market share targets, but by a sustainable growth proposition.
“We want to grow our mortgage book responsibly – we are happy with where we are, but we are not complacent,” she says.
Macquarie Bank, which grew its investment housing lending book by 33% over the same four-month period, was also the top owner-occupier lender in percentage terms, growing its book by 17% and benefiting from its closer ties to the mortgage broker market.
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ANZ and NAB steamrolling over CommBank and Westpac in owner-occupier mortgage lending

<html><body>
Consumers are growing more confident that mortgage rates will continue to fall over the next 12 months following the May and June RBA rate cuts, but a significant proportion still expect rates to rise, according to the June Westpac-Melbourne Institute consumer survey.
The June results show for the first time since Westpac began asking the question (in February 2010) a majority of consumers (52%) expect mortgage rates to fall over the next 12 months.
This compares with the less than 40% who expected rates to fall when the question was last asked in February this year and fewer than 20% of consumers who thought so in August 2011 – before the RBA began its current rate cutting cycle.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/06/westpacjune18.gif"><img src="/images/stories/2012/06/westpacjune18thumb.gif"></a>
Of those who expect rates to fall over the course of the next year the vast majority (83%) expect mortgage rates to fall by less than one percentage point, while the remaining 17% expect a fall in excess of one percentage point.
A quarter of consumers surveyed still expect mortgage rates to rise over the next year, while slightly less (23%) expect no change in mortgage rates.
Westpac senior economist Matthew Hassan says the results indicate that consumers have a “firmer sense of where rates are likely to head” but cautions that the “consensus is not particularly strong”.
“At 52%, the proportion expecting rates to fall is well short of the 70 to 90% that were calling rates to rise in surveys conducted in 2010-11.”
Hassan also points out that the responses from consumers to the question of where mortgage rates are heading fluctuated over the week they were asked indicating a “lack of conviction”.
“Responses over the course of the survey week (June 4 to June 10) – which was a very busy one for interest rate developments, economic surprises and the unfolding crisis in Europe – show significant daily fluctuations and a less certain view amongst those surveyed later in the week.
“The high and rising proportion saying they simply don’t know also suggests a more uncertain outlook for rates,” he says.
Hassan says the bottom line is that “predicting mortgage interest rates has become very hard” due to mixed signals in the “official guidance”. 
As an example he says the RBA has cut rates (usually a sign the economy is worsening) but affirmed “Australia’s positive prospects”. 
“Add to this the surprisingly upbeat first quarter economic data on the domestic front, the deeply threatening and uncertain situation in Europe, and the less predictable linkage between official cash rate changes and mortgage interest rates and it’s not surprising consumers are unsure about future moves,” he says. 
Hassan also points out that interest rate market pricing and economist surveys are equally unhelpful. 
“The former is being skewed by investors seeking ways to profit from downside risks to the global growth scenario – and implies 100bps of easing by year end. 
“Economist forecasts range from up 25bps to another 100bps in cuts to the cash rate with a median view of a 25 bps reduction (Westpac’s forecast is for 75 bps,” he says. 
“And in both cases the forecasts are for the official cash rate rather than the average standard variable mortgage rate,” he says. 
State-by-state responses to the question indicate that consumers from South Australia (59%) and NSW (56%) are the most optimistic about rates falling while those in Queensland (49%) are the least optimistic.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/06/westpacjune181.gif"><img src="/images/stories/2012/06/westpacjune181thumb.gif"></a>
Men are more optimistic than women about rates falling, as are those that own their home outright or have a mortgage compared with renters.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/06/westpacjune182.gif"><img src="/images/stories/2012/06/westpacjune182thumb.gif"></a>
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Consumer sentiment swings towards greater rate cut anticipation: Westpac 

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Westpac’s discount bank brand, Bank of Melbourne, has cut its benchmark three-year fixed rate by 20 basis points to 5.79%, one of the lowest rates on offer in the market. 
This matches Greater Building Society’s 5.79% three-year fixed rate. 
The bank of Melbourne has also reduced rates on its one- and two-year fixed-rate products by 15 basis points. 
Bank of Melbourne’s new fixed home loan rates under the Advantage Package are: 
<ul>
<li>1 year – 5.74% p.a. </li>
<li>2 years – 5.74% p.a. </li>
<li>3 years – 5.79% p.a. </li>
</ul>
In addition to the fixed-rate cuts, the bank has also lifted its life-of-loan discounts on packaged variable home loans. 
From tomorrow the bank is also offering life of loan discounts of up to 0.9% p.a. off new standard variable rate home loans through its Advantage package. 
“More customers are talking to us about fixing all, or part, of their home loan to help manage their finances and gain greater certainty in these uncertain times,” says Bank of Melbourne chief executive Scott Tanner.
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Bank of Melbourne cuts fixed rates and improves incentives for borrowers

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Here’s some good news for Queensland home buyers and a warning of some traps to avoid.
In one of his early moves as the new Premier of Queensland, Campbell Newman reinstated state stamp duty concessions for principal places of residence (your home).
Cabinet formally approved the reinstatement of the principal place of residence stamp duty concession from July 1, 2012, which will save Queenslanders up to $7,000 when they purchase an average family home.
The concession was dropped in June 2011 by then Queensland Treasurer Andrew Fraser in a bid to raise an estimated $161 million for the state government.
While this is good news for home buyers in Queensland, as I said, there are some traps to avoid.
Firstly, what is stamp duty? 
Stamp duty is a tax that is levied by the state, not the federal government, on certain documents.
Historically, this included the majority of legal documents such as cheques, receipts, commissions, marriage licences and land transactions.
I remember the old days when a physical stamp (a revenue stamp) had to be attached to the document to denote that stamp duty had been paid before the document was legally effective.
Today, the tax no longer requires an actual stamp to be placed on the document, but obviously the tax must still be paid.
Interestingly, this type of duty was originally introduced in the Netherlands way back in 1624 and subsequently spread to many other countries.
So what is this new concession?
With the reinstatement of the home concession, contracts to purchase a home in Queensland entered into on or after July 1, 2012 by home buyers will be eligible for the transfer duty home concession if they meet the concession conditions. 
The home no longer has to be the first home of the home buyer, and can be a new house or one that has been previously occupied. In other words – it’s not a first-home owner’s grant and it’s not a new home owner’s grant.
But the home buyers will need to prove that they are individuals and not trustees, and the residence must be occupied as the principal place of residence within one year of the transfer and the occupation as principal place of residence must continue for at least one year from the time it commences.
Where the concession applies, a concessional transfer duty rate of $1 for each $100 or part of $100 will apply to the first $350,000 of the consideration or value of the home. Duty at the general rates will apply to any remaining part of the consideration. 
Putting this into numbers – the average home buyer will save $7,000 and if you think about it you’d probably have to earn $10,000 or more before tax to have that $7,000, so it’s a substantial savings for the average Queensland homebuyer. 
Here are the warnings…
 
If you plan to buy a property this month don’t make false arrangements in the hope of avoiding stamp duty – the government will be on the look out and is likely to scrutinise all home sale contracts carefully over the next few months. 
There are three very important circumstances in which the old duty will still apply: 1.    If the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the land and was made before July 1, 2012; or 2.    If the transferee had an option to purchase the land, or the transferor had an option to require the transferee to purchase the land, granted before July 1, 2012 and exercised on or after July 1, 2012; or 3.    If another arrangement was made before July 1, 2012 the sole purpose or main purpose of which was to defer the making of the transfer or agreement until July 1, 2012 or later so the concession for transfer duty under the relevant provisions, as in force on or after July 1, 2012, would apply in relation to the dutiable transaction.
Buyers should be aware that these provisions are trying to “catch” anyone who comes to an agreement in principle with the seller but tries to delay signing a formal contract until July 1, 2012. 
It is likely that any contracts dated July 1 or shortly after that may be scrutinised and “show cause” letters could be sent to the buyers seeking proof that the decision to purchase was actually made on that day and not prior to it. 
I wonder if the last few months leading up to June will be quieter ones for home sales in Queensland.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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myardney-DFoGhGbSJX

Good news for Queensland home buyers, but beware of stamp duty traps: Michael Yardney

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With the end of financial year fast approaching, we thought we would provide some general tax strategies for property investors to consider:
1. Documentation: Keep summaries of all your rental income and expenses.
This is much easier if you have your management agent looking after your property where they pay all expenses and collect all income. They will normally provide a monthly and annual statement.
Ensure you have all bank statements showing interest expense. The annual statement should show a summary of interest expense.
A specialist property accountant can assist by ensuring all allowable tax deductions are made. 
2. Depreciation: Only registered quantity surveyors are generally authorised to prepare depreciation schedules.
If you are contemplating a renovation a quantity surveyor can produce a scrapping schedule, which puts a value against all items to be thrown away. This value is expensed in the year of expenditure. The new items are then depreciated with a new depreciation schedule.
3. Travel: All your costs to inspect your investment property are tax deductible, including travel. Ensure you apportion any personal component.
4. Interest expenses: Only interest expenses on borrowed funds used to invest are deductible. It is the purpose of the loan that determines deductibility, not the security used to obtain the loan.
A split loan should be considered when a loan is used for both investment and private purposes.
If capitalising interest the Tax Office may require evidence of correct documentation and intention.
Interest deductibility should be easy but if not properly documented and managed this expense can cause frustration if the ATO decides to review and so the assistance of a specialty property accountant should be used.
5. Trusts: The use of a trust can be a major benefit to property investors by improving asset protection, estate planning and increasing flexibility. If using a trust ensure it has been correctly set up and operated to ensure you do not lose your interest deductibility, which is fully allowable by the ATO if you meet the requirements.
6. Pre-pay expenses: If you have a geared investment it is worth considering pre-paying next year's interest to gain an immediate tax deduction, especially if you're paying the flood levy this year. You can also get a deduction now by pre-paying next year's income protection insurance premiums. Also, consider bringing forward expenditure that would otherwise be spent after June 30. If you are planning on doing repairs on your property, note: Care should be taken in determining whether a maintenance or repair is deductible or if it is considered a renovation or of a capital nature.  Consider pre-paying other expenses such as rates, levies or possibly even interest (in the right circumstances).
7. Manage capital gains: Capital gains generated during the year can be minimised by offsetting it against capital losses or trading losses incurred during the same year. To reduce capital gain generated on sale of property or other assets during the year consider selling any assets which have lost value and their future is bleak. The 50% discount on capital gains is available where an asset is held for longer than 12 months. As this is a considerable saving consider the timing of any sale. The relevant date for calculating capital gains is the contract date, not the settlement date.
8. Manage capital losses: Capital losses incurred in any year are available to be carried forward to future years if there are insufficient gains to absorb it in the same year. It can be carried forward for an indefinite period. Capital losses cannot be offset against other income such as business trading income if you've made a capital gain this year, review your portfolio to see whether it is worth realising a capital loss to offset the gain. You can't carry losses back. So if you've made a capital gain, you may want to trigger a loss to offset it against.
9. PAYG variation: Where you have negatively geared rental investments, the negative part offsets against your other income, e.g. salary, reducing your tax payable and resulting in a large refund when your tax return is lodged. This refund can be used to reduce your loan, pay your interest expense or help finance another investment property. To help with cashflow, would it not be great if you were able to access this refund throughout the year instead of waiting till the end of the year? This can help finance that extra property, which has potential to pick up some capital growth between the beginning and end of year. This can be done by lodging an application to vary the income tax withholding using a form from ATO. This can be done electronically on line or you can download the form, prepare and lodge it manually. PAYG instalment obligations should be reviewed and consideration given to varying the instalment for the June 2012 quarter, where the estimate of income tax payable for the year is less than the instalments raised by the ATO. This will reduce the impact of this instalment on your cashflow.
Ken Raiss is a certified accountant and director of <a href="https://www.chan-naylor.com.au/" target="_self" title="Chan &amp; Naylor ">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
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kenraiss-JsVyb3YKka

Nine tax tips for property investors

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Westpac has used the RBA cash rate cuts of May and June to position Bank of Melbourne as its budget bank brand among its multi-brand offering while reeling in the discounts offered by its mortgage franchise RAMS.
Before the RBA began cutting the cash rate in November, St George, BankSA and Bank of Melbourne all offered a benchmark standard variable rate of 7.8%, with Westpac’s six basis points higher at 7.86%
RAMS was significantly cheaper with a rate of 7.63%, a 23-basis-point difference.
Fast-forward eight months and Westpac still has the highest standard variable mortgage rate at 6.89%, but Bank of Melbourne is now the lowest of the budget bank brands, with a standard variable mortgage rate of 6.8%, followed by BankSA (6.85%) and St George (6.86%)
RAMS maintains its position as having the lowest standard variable rate of the Westpac brands at 6.75% but is now only five basis points lower than Bank of Melbourne – thanks mainly to RAMS not passing on any of the December RBA cash rate cut – and only 14 basis points lower than Westpac.
Rate changes for Westpac brands following start of RBA cash rate cutting cycle in November 2011
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="102" valign="top">
Brand
</td>
<td width="78" valign="top">
SVR June
</td>
<td width="78" valign="top">
 SVR May
</td>
<td width="73" valign="top">
SVR Feb 
</td>
<td width="77" valign="top">
SVR Dec 2011
</td>
<td width="77" valign="top">
SVR Nov 2011
</td>
<td width="60" valign="top">
SVR Oct 2011
</td>
<td width="71" valign="top">
Total change since Nov
</td>
</tr>
<tr>
<td width="102" valign="top">
Westpac
</td>
<td width="78" valign="top">
6.89% (- 20 bps)
</td>
<td width="78" valign="top">
7.09% (- 37 bps)
</td>
<td width="73" valign="top">
7.46% (+10 bps)
</td>
<td width="77" valign="top">
7.36% (-25 bps)
</td>
<td width="77" valign="top">
7.61% (-25 bps)
</td>
<td width="60" valign="top">
7.86%
</td>
<td width="71" valign="top">
-97 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
St.George
</td>
<td width="78" valign="top">
6.86% (-18 bps)
</td>
<td width="78" valign="top">
7.04% (-38)
</td>
<td width="73" valign="top">
7.42% (+12 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
- 94 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
BankSA
</td>
<td width="78" valign="top">
6.85% (-19 bps)
</td>
<td width="78" valign="top">
7.04% (- 38 bps)
</td>
<td width="73" valign="top">
7.42% (+12 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
- 95 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
Bank of Melbourne
</td>
<td width="78" valign="top">
6.80% (-19 bps)
</td>
<td width="78" valign="top">
6.99% (-41 bps)
</td>
<td width="73" valign="top">
7.40% (+10 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
-100 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
RAMS
</td>
<td width="78" valign="top">
6.75%  (-21 bps)
</td>
<td width="78" valign="top">
6.96% (-32 bps)
</td>
<td width="73" valign="top">
7.28% (+10 bps)
</td>
<td width="77" valign="top">
7.38% (0)
</td>
<td width="77" valign="top">
7.38% (-25 bps)
</td>
<td width="60" valign="top">
7.63%
</td>
<td width="71" valign="top">
- 88 bps
</td>
</tr>
</tbody></table>
 Bank of Melbourne is also trying to convince borrowers that it is a separate entity to its big four parent, with the ads in its windows talking about it matching the big four on price while beating them on service.
“Not a bad bit of spin for a bank wholly owned by the country's second-biggest major. It's a question of whether customers will buy it,” wrote Stewart Oldfield, an analyst at Investorfirst Securities, in the Fairfax press.
Oldfield says Westpac’s multi-brand strategy in Victoria is about trying win new customers by offering them a “regional bank” experience in a state where regional bank representation is low compared with the national average.
“Privately, the bank also highlights the ability to price brands differently, depending on market conditions,” he says.
What is also noticeable is that the range of standard variable rates offered across the five brands has shrunk from 23 basis points in November to just 14 basis points in June, providing less of an incentive for borrowers to refinance from one Westpac mortgage brand to another.
Westpac kicked off its multi-brand mortgage strategy –likened to that of consumer products giant Unilever – following the outbreak of the GFC.
It acquired the RAMS brand name and franchised stores for just $140 million in January 2008 following the disastrous float of the then non-bank lender.
One month later Gail Kelly left her role as St George chief executive to assume the position of Westpac CEO.
Twelve months later Westpac bought St George for $18.6 billion.
Westpac relaunched the Bank of Melbourne brand in August last year, replacing St George in the Victorian market.
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