<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;

Joel Robinson

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

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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>
Tax time can cause great anxiety for investors who unwittingly make claims they are not entitled to, getting themselves into deep water with the Tax Office. Here are some helpful hints to assist property investors to capitalise on their allowable deductions and avoid unwanted interest from the tax man.
Property is an increasingly popular form of wealth creation for many Australians, but often they lack the accounting and financial knowledge to know what it is they are entitled to claim, or how much they can claim and what is not an accepted tax deduction.
The ATO monitors property investor claims and often issue warnings or notices of the types of common mistakes made, so investors should at least visit the ATO website.
Reports say more than 1.5 million people claim in excess of $24 billion in rental deductions in a year, which explains the ATO’s vested interest and continued focus on monitoring rental property deductions.
The most common mistakes made by property investors include making claims against:
<ul>
<li>Immediate initial repairs or capital improvements including structural repairs and improvements which are seen more as capital works deductions such as remodeling a bathroom or building a pergola</li>
<li>The portion of a loan that is used for both investing and private purposes</li>
<li>Inspection of a rental property while on holiday in the area, which is the real purpose, and the inspection only incidental</li>
<li>Expenses relating to the private use of a property such as a holiday home</li>
<li>A property that is not genuinely available for rent including periods while it is undergoing construction or renovation</li>
<li>Borrowing expenses in the first year rather than being spread out over the term of the loan or five years, whichever is the lesser of the two.</li>
</ul>
Investors should seek the services of a qualified professional such as an accountant or financial advisor when looking at preparing their tax return.
Everyone’s personal financial circumstances are different and the tax implications of the individual property investment strategy may differ, so it is important to discuss it with someone who has the necessary expertise and experience.
It is also a good idea to look at using the services of a respected and qualified property manager who will act on your behalf with your best interests at heart.
A property manager will have the requisite forms, processes and systems to effectively manage a property as well as maintain and keep appropriate records for tax and accounting purposes.
Proper record keeping and tracking is more than half way to ensuring the investment property yields the optimal return.
Ray Ellis is CEO of <a target="_blank" href="https://www.firstnationalnews.com">First National Real Estate</a>. 
 
 
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Top tax slips property investors must avoid

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The GFC forced Australia’s major banks – among the most heavily exposed in the world to the local residential property market – to raise their mortgage underwriting standards and helped avoid a mortgage arrears crisis, according to a new report by investment bank Credit Suisse.
However, in the current slow housing credit market (the value of owner-occupier loans fell 0.3% in March) Credit Suisse warns there could be the “commencement of the next cycle of degradation of mortgage credit underwriting standards”.
“Our industry liaison suggests that this process is starting to occur (albeit has not slackened to the extent seen in the pre-crisis era), with banks more selectively retaining mortgage credit risk that previously would have been transferred to the lenders mortgage insurance (LMI) industry,” says Credit Suisse.
The report also notes that lenders resumed offering 95% LVR mortgages in 2011, with loans with LVRs of more than 90% rising from a trough of 11.5% in the June 2010 quarter to 17% in the December 2011 quarter.
The present decline in mortgage standards, Credit Suisse analysts say, is being driven by “challenges of achieving mortgage balance growth and revenue growth in a subdued macro environment”.
The Credit Suisse report shows that Australian lending institutions are among the most heavily exposed to the residential property market, with 59% of their loans offered to this sector, compared with 38% in the US, 33% in Canada and 13% in the UK.
Within Australia, the Westpac group has the most exposure to the residential property market, with 67% of its lending in the form of home loans.
The Commonwealth Bank has a 65% home loans exposure, followed by ANZ (53%) and NAB (52%).
Released at a time when APRA figures show the stock of bank-problem mortgage assets is now declining, the report says the GFC “reset the clock” in 2008 and 2009 and was a key reason why the 2009 mortgage vintage proved so resilient despite it having many unfavourable credit characteristics, such as “first-home owners that had received the first-home owner grant boost, written at or near-peak house price levels in many markets, and written at or near trough mortgage interest rates”.
Report authors and Credit Suisse analysts Jarrod Martin and James Ellis contend that “a potential mortgage arrears crisis was probably averted in Australia by the onset of the global financial crisis from mid-2007”.
They argue that a mortgage arrears crisis is founded upon “substantial, enduring and widespread degradation of origination underwriting standards, “not merely upon (say) overpriced housing or highly indebted households”.
Click to enlarge
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“Conversely, had the global financial crisis not occurred, the alternative future might have been that ongoing growth and development of higher-risk mortgage products such as low-doc mortgages might have degraded Australian mortgage underwriting standards to a sufficient degree, across a wide enough range of mortgage originators and for a long enough period of time — that a material portion of the system’s mortgage stock would have become tainted with low credit-quality mortgages that had high probability of loss given default characteristics,” the report says.
Putting it another way, Credit Suisse argues that the “silver lining of the GFC for Australian banks” was that it brought to a halt lending by “highest risk mortgage providers (many non-banks and some regional banks)” and prevented the “meaningful spill-over of lax mortgage underwriting standards over to the major banks”.
“In this regard, we note that, even Westpac’s mid-2000s staunch resistance to offering low-doc mortgages saw a capitulation when Westpac’s on-going mortgage market share losses coincided in a de-rating of Westpac’s stock multiple.”
Westpac ramped up its play in the riskier low-doc loan market in 2005 in an effort to capture market share as lending slowed, prompting the RBA to warn that an increase in these riskier loans was a potential threat to the banking system.
 
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lschlesinger-FZcF9M3vE6

Dark cloud risk for big four banks after GFC mortgage crisis escape: Credit Suisse

<html><body>
ANZ’s customer satisfaction ratings as measured by Roy Morgan fell for the third straight month in April, after the bank decided in January to make an independent interest rate call on the second Friday of every month. 
The bank’s retail customer satisfaction rating fell 1.9 percentage points during April to 75.5% to be behind both NAB (up 0.2 percentage points during April to 77.7%) and the Commonwealth Bank (up 0.2 percentage points to 77.2%). 
Westpac was the other major bank to register a drop in customer satisfaction during April, falling 0.5 points to a customer satisfaction rating of 75%. 
ANZ’s satisfaction rating has fallen 3% over the past three months – double the pace of falls in satisfaction for any of the other the big banks in the same period. 
The bank announced its decision to go it alone on interest rates in December and made its first out-of-cycle rate increase in February of 0.06 percentage points followed by the same out-of-cycle increase in April. 
In May, the bank passed on 0.37 percentage points out of the 0.5 percentage points on offer from the Reserve Bank following its May 1 rate decision. 
Norman Morris, a director with Roy Morgan Research, says the main reason for the large drop in satisfaction by the ANZ is its “out-of-cycle home-loan increase in February, which it initiated and was followed by the other major banks”. 
ANZ bank came under fire from Marcus Padley, founder of the Marcus Today stock market newsletter, earlier in the month. Padley said the bank was getting “a lot of flak for no upside”. 
Click to enlarge
<a href="/images/stories/bankssatisfaction.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/bankssatisfactionthumb.gif"></a>
ANZ’s decline among retail customers has been matched by falls in satisfaction among business customers, with the percentage of customers who say they are fairly or very satisfied with the bank falling from 65% to 63.9%. ANZ is ranked third among the big four. 
Among business customers, Westpac is the clear leader of the big four at 66.8% satisfaction, ahead of NAB (64.9%) with the Commonwealth Bank last at 61.7%. 
The overall customer satisfaction rating for banks declined marginally from a February high of 66% to stand at 65.1% in April. 
Queensland bank Suncorp has the highest business customer satisfaction ranking at 67.8%, followed by St George at 67.5%.
 
 
 
 
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ANZ’s independent rate decision turning off customers: Roy Morgan

<html><body>
Professional investors understand that you can’t outsmart the market. It’s a lesson worth remembering if you’re looking at refinancing a loan with a fixed-rate loan.
Some borrowers have legtimate reasons to want fixed costs of capital. But there are other types of borrowers who believe that they will gain an advantage by taking a fixed rate loan.
We saw this happen in March when, according to the Australian Bureau of Statistics, the number of fixed-rate mortgages soared to 14.5% of the total mortgage market, the highest ratio since May 2008.
A flat economy (in the southern and eastern states), and a pause on official interest rate movements, pushed many Australians into the “safe” option because banks were offering fixed rates about 0.5 percentage points under their variable rates.
But the large numbers of borrowers refinancing into a fixed-rate loan in March were not to know that the Reserve Bank, on May 1, would cut the cash rate by 0.5 percentage points. They didn’t gain advantage at all.
Mortgage holders are generally best served by the variable-rate system, because you are following the market price of mortgages and you can operate with the same basic information available to everyone.
To find the best deal on a variable-rate loan, go to a comparison web site and look at the “comparison rate” column.
Then, focus on the loan margins. Start with your own variable home loan rate and subtract the cash rate, which you can find at the Reserve Bank’s home page.
So, if your loan is 6.75% and the cash rate is 3.75%, the margin you are paying is 3%.
Now, look at another lender’s variable rate. If they have a loan at 6.25%, then the margin they are charging is only 2.5%.
By thinking in terms of the loan margin, you get a better feel for the market.
The best part about variable rate loans is that while a fixed rate locks you in for a term, variable rate loans are flexible; lenders cannot charge exit fees when a borrower leaves a home loan, so there is no penalty for refinancing.
Refinancing is certainly worth it. Say you have a home loan with a bank and have a current variable interest rate of 6.99% on a $350,000 loan. You look around and decide to refinance to a 5.99% loan.
The savings in that one percentage point would be $59,223 over the life of the loan. If you refinanced and kept your repayments at the same rate as your repayments in the original loan, you’d actually save $129,143.
Some people are not comfortable researching the mortgage market, and for them I recommend expert advice in the form of a mortgage broker.
It doesn’t matter how you come to refinance, the trick is be informed and to be prepared to act. In most cases, the lender you are leaving will try to reduce you interest rate to make you stay.
It’s nice to feel wanted!
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
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mbouris-tauSvXGAM2

Refinancing your home loan is usually worth it

<html><body>
Newcastle-based lender the Greater Building Society, perhaps most famous for getting Jerry Seinfeld to do its advertising, can now also claim to have the lowest three-year fixed home loan rate in Australia.
The Greater has reduced its three-year fixed Ultimate (packaged) Home Loan by 15 basis points to 5.79% per annum. Product manager David Bryde believes this is the lowest three-year home loan rate in Australia.
Mortgage comparison website RateCity.com.au had listed IMB Building Society as having the lowest three-year fixed-rate loan at 5.89%, but this offer appears no longer available, with the IMB website showing an advertised three-year fixed rate of 5.99%.
This 5.99% three-year fixed-rate also offered by the Commonwealth Bank, ING Direct, ME Bank, CUA, Aussie and Citibank.
The Greater has also cut its credit card rate by 0.49%, bringing it down to a starting rate 10.25% from June 1.
“The Greater continues to offer Australian consumers with better value home loans and credit cards than the major banks as well as outstanding service,” says Bryde.
“Alternatives to the major banks are already here and it is already easier to switch financial institutions than people think,” he adds.
The Greater Building Society is one of Australia’s largest building societies with almost 250,000 customers across NSW and South East Queensland with 66 branches.
 
 
 
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First Jerry Seinfeld, now Greater Building Society claims cheapest three-year fixed-rate loan

<html><body>
Property investors who take up an offer from HSBC Bank of a discounted fixed rate mortgage product if they pay the first year's interest on the loan upfront could cut their end-of-year tax bill by thousands of dollars, while making a small saving on their mortgage repayments.
HSBC has cut its fixed-rate mortgage products by 10 basis points and is offering an additional 10-basis-point discount for investors that who take up the “interest-in-advance” offering.
The rate cut means the bank’s three-year fixed-rate product has dropped to 6.09% but will drop to 5.99% for those investors who take up the interest-in-advance offer.
Paying the interest upfront will allow investors to claim a tax deduction for the interest expense earlier.
HSBC has calculated that investors taking out a $300,000 mortgage on a three-year fixed rate term would have to pay $17,970 interest in advance for the full year with mortgage repayments reduced by $300 over this period.
According to accounting firm Chan &amp; Naylor, an investor on a taxable income of $100,000 would be able to reduce his tax bill by more than $7,000 (from $26,700 to $19,691.70)  by paying the $19,691.70 before the end of the current tax year.


Alice Del Vecchio, head of mortgages for HSBC Bank Australia, says paying interest in advance on a fixed-rate loan allows customers to enhance the tax effectiveness of their property investment. 
“With tax season approaching, many of our customers will be considering various investment strategies, so offers like these come at an opportune time,” she says.
The HSBC fixed-rate cut comes as ABS March housing finance data revealed that fixed-rate mortgage demand climbed to its highest level since April 2008, with nearly 15% of borrowers opting for a fixed-rate product during the month.
Please note this article does not constitute tax advice and the numbers quoted are for illustrative purposes only.
Here’s a guide to the range of headline three-year fixed rate products currently on offer:
5.79%
The three-year fixed-rate offering of Greater Building Society
5.99%
The three-year fixed-rate offering of Commonwealth Bank, ING Direct, ME Bank, CUA and Aussie, Citibank, IMB Building Society.
6.03%
The three-year fixed-rate offering of LJ Hooker Finance
6.04%
The three-year fixed-rate offering of ANZ
6.09%
The three-year fixed-rate offering of HSBC Bank Australia and NAB, St.George, Bank of Melbourne, BankSA
6.13%
The three-year fixed-rate offering of Suncorp
6.15%
The three-year fixed-rate offering of Myrate.com.au
6.19%
The three-year fixed-rate offering of Westpac and ANZ
6.29%
The three-year fixed-rate offering of Heritage Bank and Homeloans Ltd
 
6.33%
The three-year fixed-rate offering of Bankwest
6.34%
The three-year fixed-rate offering of Bendigo Bank
6.37%
The three-year fixed-rate offering of Yellow Brick Road
6.39%
The three-year fixed-rate offering of bankmecu
6.46%
The three-year fixed-rate offering of Resi Mortgages
 
 
 
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Tax savings for property investors who take up HSBC interest upfront offer on fixed-rate mortgages

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Around this time of the year client managers at Chan &amp; Naylor may undertake a process of review of the current financial year activities with a number of our clients.  The purpose of this is to prepare for a scenario of likely levels of income tax payable or estimated levels of tax to be refunded. This may determine how quickly you would like to have your tax affairs attended to following June 30. 
Who would benefit from such a process? Any property investor with solid PAYG earnings or business income and sound cashflow.
Through a process of review your financial advisor may be able to assist in identifying particular issues: 
<ul>
<li>whether the investment property is maximising its deductible entitlements;</li>
<li>whether it is worthwhile prepaying loan interest for the following financial year; and</li>
<li>whether the property is entitled to capital allowance deductions. </li>
</ul>
In some instances there may be little that can be achieved for the current financial year but your property accountant may be able to identify whether there is scope for additional property acquisition or means of reducing income for the following tax year and beyond. 
We recommend that you contact a financial advisor should you wish to consider this option.
 
The benefits of an income tax variation application
 
Another activity that Chan &amp; Naylor undertakes at this time of the year is the submission of applications for 1515 PAYG variation certificates for the next financial year. The 1515 application is to provide your employer with an authority from the Australian Taxation Office to reduce the amount of PAYG withholding from your regular salary. This is usually in expectation of a significant difference between your normal salary and your likely assessable income for a given year often brought about by a negatively geared property investment. 
The benefit of this is that is increases your amount of “take-home pay” to assist you with the ongoing costs associated with a negatively geared property, primarily the interest expense. 
So if you have purchased your first investment property during the current financial year or have ongoing negatively geared property investments now is a good time to be arranging to have your 1515 applications prepared.
Clive Nelson is a partner at<a target="_blank" href="https://www.chan-naylor.com.au/"> Chan &amp; Naylor </a>Parramatta.
 
 
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The 1515 application and why property investors need to consider end-of-year tax planning

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Following on from May 1 RBA decision to cut the cash rate by 0.5 percentage points, Westpac has cut its headline three year-fixed mortgage by 20 basis points to 6.19%.
HSBC has cut its three year fixed-rate product to 6.09% or 5.99% for those investors who take up the interest-in-advance offering
ME Bank has also cut its three-year fixed rate mortgage product to 5.99%.
Currently the cheapest three-year fixed rate offering appears to be the 5.89% rate offered by IMB Building Society.
Other lenders are also expected to also drop their fixed rates as they look to lock in borrowers.
This follows ABS housing finance figures for March which showed that nearly 15% of loans taken out over the month were for fixed rate mortgages – the highest percentage since April 2008.
Here’s a guide to the range of headline three-year fixed rate products currently on offer: 
5.79% 
The three-year fixed-rate offering of Greater Building Society 
5.99% 
The three-year fixed-rate offering of Commonwealth Bank, ING Direct, ME Bank, CUA and Aussie, Citibank, IMB Building Society.
6.03% 
The three-year fixed-rate offering of LJ Hooker Finance 
6.04% 
The three-year fixed-rate offering of ANZ 
6.09% 
The three-year fixed-rate offering of HSBC Bank Australia and NAB, St.George, Bank of Melbourne, BankSA 
6.13% 
The three-year fixed-rate offering of Suncorp 
6.15% 
The three-year fixed-rate offering of Myrate.com.au 
6.19% 
The three-year fixed-rate offering of Westpac and ANZ 
6.29% 
The three-year fixed-rate offering of Heritage Bank and Homeloans Ltd 
 
6.33% 
The three-year fixed-rate offering of Bankwest
6.34% 
The three-year fixed-rate offering of Bendigo Bank 
6.37% 
The three-year fixed-rate offering of Yellow Brick Road 
6.39% 
The three-year fixed-rate offering of bankmecu
6.46% 
The three-year fixed-rate offering of Resi Mortgages
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Westpac, HSBC and ME Bank cut fixed rates: a three-year fixed-rate guide

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Westpac chief economist Bill Evans says the failure of the banks to pass on the full May RBA 50-basis-point rate cut impacted on the confidence of borrowers and was a factor in a “disappointing” 0.8% rise in consumer sentiment in May, according to the Westpac Melbourne Institute Index.
Evans says evidence of the muted impact of the cuts in the official cash rate was found in the responses of those surveyed who hold a mortgage. 
“Confidence in this group increased only 3% in the survey despite the largest cut in the standard variable mortgage rate since February 2009. 
“Since October 2011 the standard variable mortgage rate has fallen by 0.76% yet the confidence of mortgage borrowers has actually fallen by 1.8%,” he says. 
Evans described the index of consumer sentiment rising from 94.5 in April to 95.3 in May as a “disappointing result” following the rate cut and “extensive media coverage that the unemployment rate had fallen from 5.2% to 4.9%”.
“However, other factors appear to have offset these positives. 
“Firstly there might have been a degree of disappointment amongst households that the standard variable mortgage rate was reduced by ‘only’ an average of 0.37%. 
“Secondly, increasingly disturbing news around Europe and specifically Greece is likely to have unnerved households,” Evans says. 
“We saw some similar evidence around these two factors in December last year. 
“At that time, despite a 0.25% reduction in the official cash rate, the Consumer Sentiment Index actually fell by 8.3%”. 
Evans says the “soft response” in confidence will be a disappointment for the Reserve Bank. 
“It seems extraordinary that the index is 2% below its level in October last year, when the official cash rate was 4.75% – a full 1% above the current level.” 
Evans says a number of issues appeared to unnerve households. 
“Firstly, and most importantly, concerns around the situation in Europe and secondly some confusion around the flow-on to the mortgage rate as banks delayed their decisions after having responded rapidly following the first official rate cut in November. 
“This issue around mortgage rates was also likely to have been a factor behind the 5% fall in the Index in March following a surprise increase in mortgage rates of 0.1% to 0.12%.” 
Evans says a negative reaction to the budget may also have played a part in the disappointing consumer sentiment result in May. 
“An additional explanation for this weak response of the Index is around the federal budget. We asked a supplementary question in the survey, ‘What impact do you expect the federal budget to have on your family finances over the next 12 months?’." 
“The results were disappointing, with only 9.9% of respondents indicating that the budget would ‘improve’ family finances while 36% indicated the budget would ‘worsen’ family finances.”
 
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Banks withholding part of RBA rate cut dampened consumer sentiment rise in May: Westpac’s Bill Evans

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Minutes released today from the RBA’s May 1 monetary policy meeting show that the continued weak housing, construction and mortgage conditions were factors in the bank cutting the cash rate by 50 basis points, though the pace of house price decline may be slowing.
However, Westpac chief economist Bill Evans says the minutes provide no guidance "to suggest either that a cut can be expected next month or that the board, having cut by a larger than expected amount is prepared to wait and assess the impact over a few months before moving again".  "Our current forecast is for rates to bottom out at 3.25% with cuts of 25bps in both July and September. However, the specific timing of these moves and whether the Bank eventually decides to go a little lower is most uncertain with three weeks between now and the June Board meeting and in particular global developments highly volatile," he says.
The May 1 minutes note that “members were briefed on the continued weakness in the housing market generally and residential building activity in particular”.
The minutes also note that “demand for housing finance had eased in the past few months and recent data suggested that dwelling prices had continued to decline, although there were tentative signs that the pace of decline had been more gradual overall in recent months”
“Despite dwelling prices declining relative to incomes and rises in rental yields, forward-looking indicators implied little prospect of an imminent recovery in housing construction.
“Information from liaison suggested that households were unwilling to commit to contracts for new dwellings because of concerns about job security and declining dwelling prices,” say the May minutes.
The weakness in the housing market was noted in both the April and March minutes after the Reserve Bank reported in February that “there were signs of [house price] stabilisation in some major cities around the end of the year”.
In April the RBA noted “soft overall conditions in the housing sector”.
In March, the RBA said the “housing market remained soft, with auction clearance rates in February broadly unchanged from late 2011.
“Housing credit continued to grow at a slower rate than nominal income.”
 
 
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