<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>
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

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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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