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;

&nbsp;

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.

Joel Robinson

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

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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>
Increased first-home buyer activity and demand for fixed-rate mortgages were the two key trends to emerge from solid November ABS housing finance figures released today. The figures, which include the impact of the November 1 rate cut, reveal that the number of owner-occupier mortgages increased 1.4% to just under 47,000 – the eighth consecutive monthly increase in mortgage approvals.
By state, the figures for owner-occupier finance were mixed, continuing the divide evident in 2011, noted Westpac. 
“NSW outperformed, up 4.2%, with the announced changes to stamp duty arrangements from the start of 2012 bringing demand forward,” Westpac says. 
“The mining state of WA strengthened, up 0.9%. However, Victoria weakened, down 0.2%, with the state facing a sizeable increase in supply. Queensland remained disappointing, up 0.9%, which was insufficient to reverse falls over the previous two months,” says Westpac. There was a pick-up in the investment sector, with fixed loans for investment housing rising 2.2% to $6.6 billion while the total number of loans purchased for new dwellings increased by 2% over the month. 
Macquarie senior economist Brian Redican described the November data as “encouraging and a step in the right direction”.
He expects the two successive interest rate cuts and the prospect of more cuts to come in 2012 to deliver further boosts to the housing sector in the months to come.
“I think it does have to have a positive impact. These numbers don't reflect those cuts yet and it will have to take a few more months for that to flow through,” Redican says.
First-home buyers’ share of mortgage approvals (excluding refinancing) increased to 16.1% in November from 15.7% in October. “This is the highest first-home buyer share of total approvals since January 2010 and shows that improving housing affordability is generating some moderate first-home buyer activity,” noted David Cannington from ANZ Research. Cannington expects first-home buyers’ share of the market to continue to increase over the coming months due to further weakening in house prices and lower mortgage rates – December housing finance figures will factor in both the November and December rate cuts as well as improved interest rate sentiment. The other key finding from the November data was the growing demand for fixed-rate loans, which increased to 11.1% in November from 10.6% in October to be at the highest proportion since June 2008. “Attractive fixed mortgage rates and ongoing financial market uncertainty continued to drive an increase in fixed rate lending,” Cannington says.
Dean Rushton, chief operating officer of mortgage broker Loan Market, expects the eight months of consecutive mortgage growth to continue while consumers act upon the November and December rate cuts.
“Consumers will likely remain confident in the housing finance market, with the strong possibility of a rate cut in February,” he says.
“This should fuel a significant number of approvals in the coming months, which will stimulate many struggling sectors in the economy.” 
Mortgage approvals in NSW were up 4.9% from October 2011, and 9.4% for the year. 
“In NSW we’re seeing a significant demand brought forward by first-home buyers acting before the 2011 deadline for the stamp duty exemption,” Cannington says.
There was a 2% increase in loans for the purchase of new homes with a 5.6% rise in NSW, an 8.4% increase in Queensland, a 13.4% in South Australia, a 20.9% increase in the Northern Territory, and a 17.5% increase in the ACT. 
The number of loans for new housing fell by 8.5% in Victoria, 3.3% in Western Australia, and 8.9% in Tasmania. Over the three months to November 2011 lending for new housing was down in all states and territories except for Tasmania, WA and Queensland. 
<img src="/images/stories/newhomeloanshia.gif">
 HIA chief economist Harley Dale says there is “a modest revival underway in the established lending market, which now extends to five rises in six months”. 
“New home lending has yet to join the ride,” he says. 
The combined number of loans for construction/purchase of a new dwelling was effectively flat in November 2011 (up 0.3%) to be down by 8% when compared to the same month in 2010,” Dale says.
“The second half of 2011 saw a renewed trend decline in new home lending, a concerning situation which further highlights the risk of new housing starts approaching GFC-like levels once more,” Dale adds.
Masters Builders Australia chief economist Peter Jones also noted the ongoing weakness in loans for construction and purchase of new dwellings.
“The key finance indicator released today by the ABS shows that demand for new dwellings remains flat, despite indications of a pick-up in commitments for the purchase of established dwellings.
“The housing market is beginning to pick itself off the floor but the number of finance commitments remains weak by historical standards as consumer caution and euro turmoil work against the upswing. 
“The two recent rate cuts in November and December will help, but Master Builders believes the Reserve Bank still needs to do more to boost confidence and encourage a recovery in residential building.
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Mortgage approvals up amid increased first-home buyer and fixed-rate home loan demand

<html><body>
Demand for home loans has continued to increase for an eighth consecutive month in November, according to the latest figures from the Australian Bureau of Statistics.
The figures show the number of loans granted rose by a seasonally adjusted 1.4% to 46,953, after a downwardly revised 46,953 in October.
Total housing finance rose by 2.1% to $2.03 billion.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/index.php"> SmartCompany</a>.
 
 
 
</body></html>

pmcstafford-pr9eMARWoN

Housing finance lifts for eigth consecutive month

<html><body>
Members Equity Bank will look to sell its home loans through mortgage brokers after signing a distribution agreement with National Mortgage Brokers (nMB).
Melbourne-based nMB is the bank’s first broker partner, and it has plans for additional third-party agreements further down the track.
The bank’s decision to partner with brokers comes as more lenders look to strengthen ties with the broker market.
According to Fujitsu Consulting’s October 2011 Australian Mortgage Industry report, mortgage brokers currently originate 43% of all mortgages in Australia.
As a result, lenders have been improving their broker service propositions, including NAB, which last year extended its waived application fee and $700 switching incentive to its broker-only Homeside brand.
In October last year, a poll of 942 brokers by NAB’s Homeside division found that more than two-thirds of brokers believe the bank has improved its broker interaction.
In July, <a href="https://www.propertyobserver.com.au/finance/brokers-see-better-bank-relations-after-st-george-commission-move/2011071550817" target="_blank">St George increased the amount of commission brokers could earn</a> by upping the upfront commission component from 50 basis points to 65 basis points and also reintroduced a 15-basis-point trail commission.
Gerald Foley, managing director of nMB, says the negotiated distribution agreement allows ME Bank to make its products available to the estimated 40% of new borrowers who use a broker. 
“Our network relationship will also deepen ME Bank's accessibility into areas where it may not have strong representation today,” says Foley. 
According to Ian Hendey, ME Bank’s group executive for brand, product and distribution, the decision to use third-party distribution followed considerable research across its customer base “that clearly signalled the broker channel was a key additional distribution channel”.
“Our research found that that more than half of our target market of industry super fund and union members would contact a mortgage broker for their home loan needs,” he says. 
The decision by the bank to part with brokers comes as figures from mortgage aggregator AFG revealed that non-major bank lenders’ share of mortgage lending increased strongly in December to nearly a quarter of all loans. 
Non-major bank lenders wrote 24% of all AFG loans in December, up from a previous 12-month average of just 19%.
 
</body></html>

ME Bank connects with brokers as second-tier lenders gain ground

<html><body>
The Commonwealth Bank has agreed to change the way it advertises its “Wealth Package” home loans due to concerns from ASIC that ads promoting the product did not mention the $350 annual fee in the advertised comparison rate.
The Wealth Package is offered to existing customers who already have a Commonwealth Bank mortgage of at least $150,000.
ASIC said rates used in ads were incorrect and potentially misleading. “Under the National Credit Code, credit ads that include an annual percentage rate must also include a comparison rate. Comparison rates incorporate the fees, charges and interest relating to a loan to better reflect the true cost of credit,” the regulator said. “ASIC was concerned CBA’s home loan ads promoting its Wealth Package loans did not include the Wealth Package $350 annual fee in the advertised comparison rate. “When promoting a package loan, any fee in connection with a loan to qualify for the advertised annual percentage rate must be included in the comparison rate. Not including all fees and charges results in a comparison rate not reflecting the loan’s true cost.” ASIC commissioner Peter Kell says comparison rates help consumers work out the actual cost of credit.
“It can be difficult for people to compare home loans with different combinations of interest rates and fees. This is why credit providers must include the comparison rate when they advertise a rate or a weekly payment for a home loan, and ASIC will be active to ensure compliance in this area,” Kell says.
“Consumers will be more confident if they have information that allows them to properly understand and compare financial products.”
Later this year, ASIC will release a consultation paper on advertising of credit products.
The slap on the wrist for the CBA comes soon after the <a target="_blank" href="/news">launch of home loan key fact sheets</a>, which credit providers must offer customers on request.
</body></html>

CBA changes home loan ad after ASIC complaint

<html><body>
Mortgage broker Mortgage Choice says home loan key fact sheets are a good starting point for making mortgage comparisons, but are not a comprehensive tool. 
Since January 1, 2012, lenders must provide customers with a home loan key facts sheet, setting out the details of the mortgage they may apply for including the interest rate, loan amount, fees, total cost of the mortgage (including interest), how much mortgage repayments will rise if the interest rate rises by 1% and ways to pay off their home loan faster. 
The fact sheet requirement is aimed at making it easier for borrowers to compare mortgage products and is part of the government’s banking reforms program, which also includes the ban on exit fees on variable-rate mortgages. 
The home loan key facts sheets do not constitute an offer to provide credit.
According to Belinda Williamson, acting head of corporate affairs at Mortgage Choice, the introduction of the fact sheets are a positive step but “only address one part of the home loan comparison process”. 
“While they do help borrowers assess the cost of a specific home loan product in comparison to others, they do not present a comprehensive comparison of the home loan's features such as the availability of a redraw facility, an offset account, etc. and the impact these may or may not have on the total cost of the loan,” Williamson says. 
“They also do not go to the extent of demystify specific loan types (such as interest only versus principal and interest, line of credit, etc.).”
Mortgage Choice brokers will provide lenders' key facts sheets to borrowers on request. 
“When choosing a loan it is important that borrowers compare all aspects of a home loan including the interest rate, any upfront, ongoing and exit fees, the availability of loan features and the impact of these on the total cost of the loan, the accessibility of the lender (e.g. do they have online banking, local ATMs, etc.) and the lender’s service quality,” Williamson says. 
Example (click to enlarge):
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/keyfactbankwest.gif"><img src="/images/stories/keyfactbankwestthumb.gif"></a>
 
Damian Smith, CEO of comparison website RateCity.com.au, says the fact sheets will make it easier for borrowers to “compare apples with apples before they apply for a home loan”. 
"Anything that simplifies the lending process and encourages greater transparency in the home loans market is a good thing for competition. 
"The fact sheets will be standardised so lenders will be required to provide borrowers with information in the same way, making the comparison process easier. This will help first-time borrowers in particular compare loans side by side, and give them just a little more bargaining power – which is a good thing," he says.
The initiative has the support of consumer group Choice, with its head of campaigns Matt Levey calling the introduction of home loan key fact sheets “a welcome step towards transparency, allowing consumers to more easily compare mortgage products on their merits”.
“Choice has campaigned strongly for reforms to increase competition in the banking sector, and one of the most powerful ways to do this is to make consumers more mobile, able to seek out better deals and move their money” says Levey.
“Key fact sheets are part of this equation, along with measures like the ban on mortgage exit fees and steps to improve confidence in smaller lenders.”
Levey says they are part of the solution to overcome the perception revealed in Choice consumer surveys that there is too much hassle and little benefit in switching mortgages, “by making the switching process more straightforward, and making it easier to compare different deals in the market place on similar terms”.
“Experience tells us that those consumers who do switch often find the process easier than they expected, and that those who shop around often find better deals,” he says.
Though not obligated to do so, mortgage franchise RAMS – part of Westpac –will publish key fact sheets on its website. 
“This will enable consumers to compare the strength of the RAMS product set against the major banks products,” a spokesperson for the franchise says. 
Australia biggest mortgage lender, the Commonwealth Bank, is backing the scheme with a spokesperson saying it is “important to provide customers with the information they need to make informed financial services decisions”. 
For more information on the new home loan fact sheets visit <a target="_blank" href="https://www.bankingreforms.gov.au/content/Content.aspx?doc=homeloan.htm">the government’s website</a>. 
 
 
 
 
</body></html>

Home loan key fact sheets just a good starting point for borrowers: Mortgage Choice

<html><body>
I kicked off 2012 with a tweet where I asked followers what they thought the biggest issues would be in the new year. The first response was mortgage interest rates and the domination of the big banks.
It's an interesting concept and one that I think Australians have been sold short on. What do I mean by this? Simply that the solution to the problem of high mortgage rates and mortgage domination by a few players is almost entirely the result of borrowers' choice.
There is an interesting situation in Australia right now where the big four trading banks write more than 90% of all new mortgages. That's a highly dominant position by world standards. You'd expect that the reason four banks write nine out of 10 mortgages is that they offer lower rates – something you'd expect given the scale that such market dominance affords.
But the big four are not cheaper: Canstar's RateCity comparison tables were posted on January 3, and I was having a look, seeing who was offering what right at the start of the new year. I was struck by how much more expensive the banks were: their standard variable rate mortgages were bunched together, from NAB's 7.22% to Westpac's 7.36%, with Commonwealth's 7.31% and ANZ's 7.3% in the middle. Yet there were more than 20 mortgage lenders with standard available rates about one percentage point cheaper than the big banks. These are credit unions and non-bank lenders, mostly.
We also know that the government changed the law last year so that Australians could switch from their current mortgage to another one without paying penalties – the exit fee ban. And we also know that because of the internet and the rise of mortgage brokers, there's never been as much information available as there is now.
From my perspective it's clear that mortgage interest rates are high for 90% of Australians because they choose to have it this way. I experienced this a decade ago when I was the executive chairman of Wizard Home Loans. Together with other non-bank lenders – Aussie and RAMS – we offered mortgages with better prices, service and products. By 2003, non-bank lenders had about 15% of the mortgage market and banks had halved their mortgage margins. Now? Non-banks have 1% of the mortgage market and their interest rates are much lower than the bank competition.
The answer 10 years ago was the same as it is today. If borrowers want the best deal for themselves they have to exercise their right to choose.
That's what makes a vibrant free market: providers making their best offer, and consumers making a choice.
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.
This article originally appeared on <a href="https://neoskosmos.com/news/en/Peoples-choice" target="_blank">Neokosmos.com</a>
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mbouris-tauSvXGAM2

Borrowers must exercise their freedom of choice: Mark Bouris

<html><body>
Mortgage franchise RAMS is looking to entice new borrowers in the slow month of January by cutting application fees on all its mortgage products.
“Apply for a RAMS Home Loan by 31 January 2012 and we’ll drop the application fee. Yes, we’re offering a $0 home loan application fee across our entire range of new loans – saving you $$$s!” says a message on the RAMS website.
The lender is particularly strong among first-home buyers.
RAMS, which is owned by Westpac, passed on both the November and December rate cuts in full.
The lender offers a standard variable rate of 7.18%, undercutting all the major banks.
NAB is the cheapest major lender, with a rate of 7.22%
Westpac’s standard variable rate is 7.36%.
 
 
</body></html>

RAMS eliminates mortgage application fees in January

<html><body>
The stranglehold the major banks have had on mortgage lending since the onset of the GFC appears to be loosening, with AFG reporting that second-tier lenders accounted for nearly a quarter of all loans arranged by its mortgage brokers in December.
AFG’s December Mortgage Index shows that non-major bank share of mortgages jumped from an average share of 19.1% over the past 12 months to 24.39% in the last month of 2011.
This is the first time since the third quarter of 2007 – when the sub-prime mortgage crisis began brewing – that major lenders have not written close to 80% of more of AFG’s mortgage lending business.
December 2011 was also the biggest increase in the second-tier’s share of the mortgage market over the past 12 months and significant since AFG brokers write around one in ten mortgages in Australia.
According to November banking statistics from APRA, ING remains the biggest non-major bank lender (excluding brands owned by the major banks) with a loan book of just over $37 billion, followed by Suncorp ($29 billion), Bendigo and Adelaide Bank ($21.6 billion) and Bank of Queensland ($21.3 billion).
Non-major lenders were particurlarly popular with those refinancing, with their share of this sector rising from 21.0% to 28.8% during the month – an increase of 37%.
<img src="/images/stories/buyertype.gif">
 Source: AFG
In the past, both the refinancing and investment home loan markets have been tightly held by the majors, with first-home buyers showing the greatest willingness to try non-majors. But the December figures reveal a significant change, with non-major market share rising among refinancers to around the same level as among first-home buyers, 28%.
AFG’s inaugural first Competition Index revealed that non-major lenders are competing strongly in niche markets, with Suncorp writing an impressive 14.9% of all first-home buyer loans in October, nearly double that of NAB (7.7%) and higher than ANZ (12.5%).
Suncorp’s share of the first-home buyer market was almost triple its overall market share of 5.1% captured in October, up from just 3.1% in November 2010.
AFG general manager of sales and operations Mark Hewitt says the company is being careful not to read too much into any one month’s set of figures, but says “there’s no question that the market is becoming increasingly competitive and that non-majors did particularly well last month”. 
“This trend will help keep rates competitive as we move into 2012. If the expected rate reductions come through over the next quarter, we could see a very different lending environment, supporting the recovery of property markets across Australia,” he says. 
AFG brokers also wrote an increasing number of fixed-rate loans in December, with the proportion of fixed rate mortgages rising from 17.2% to 19.2% – but below the 24% fixed-rate market share achieved Mortgage Choice franchisees. 
In line with seasonal falls, mortgage sales volumes declined month on month by 26% in December, which together with January are quieter months for the industry. 
But sales volumes were up by 5.4% nationally compared with December 2010, with the strongest growth (comparing December 2011 with December 2010) occurring in South Australia (44.8%), followed NSW (up 15.6%) and Queensland (7.7%).  Mortgage lending in Western Australia contracted by 3.9% and in Victoria by 8.9%.
 
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Major banks' mortgage dominance loosening as smaller lenders get a look-in: AFG

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Self-made millionaire John Symond wants to boost broker numbers, pick up more assets and build a financial advice service at Aussie Group, the home loan group he flogged to Commonwealth Bank during the global financial crisis.
Symond has told the Australian Financial Review that Aussie Group "has to diversity our revenue stream. Nearly all of new loans are being written by the four major banks or their subsidiaries."
"We have to write more mortgages but also have to generate a lot more non-mortgage revenue by leveraging the Aussie consumer brand."
The comments come as Aussie Group reports a 39% increase in net profit to $52 million, with a loan book of more than $40 billion.
Despite predicting the housing market faces another weak year, Symond's expansion plans include boosting broker numbers to more than 1,000 by the end of 2012, and recruiting dozens of wealth managers, the paper reports.
The Aussie Home Loans founder now serves as executive chairman of the mortgage broker and financial services group Aussie Group, after selling a 33% stake of the business to the Commonwealth Bank of Australia in 2008.
East &amp; Partners principal analyst Paul Dowling says Aussie isn't alone in casting a wide net for growth.
"Intermediaries like Aussie have got to start adding value," Dowling says.
"Their pitch, 'We'll save you money by shopping around', that's where it's started and stopped."
He adds that with flat mortgage demand, and small pricing variants between the dominant majors, it's likely to be another difficult year for mortgage brokers.
The mortgage broker market – dominated by Aussie Group, Mortgage Choice and AFG – is tipped by IBISWorld to grow by 0.5% in the year to June.
Dowling adds that Commonwealth Bank of Australia would be gunning for Aussie to become another wealth management channel.
"Symond has always been precious about the relationship with CommBank, but that's they're going to want their pound of flesh."
Just as Aussie Home Loans stole market share by focusing on the lower end of the market, the report says the financial advice business will also focus on the majority of Australians who do not seek financial advice.
Symond has also made headlines this week by tipping that the Government will bring back the first home buyers boost to stimulate the property market ahead of next year's election.
"Probably my cynical self says six to 12 months ahead of the next election, it would not surprise me that the government might stimulate housing by helping first home buyers and they may possibly introduce a bonus or a boost to the first home owner's grant," Symond said.
Symond added that for first home buyers, "all the ducks [are] lining up – lower price values, lower interest rates, makes it easier to save and easier to get into home ownership."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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John Symond's Aussie Group eyes more brokers after posting 40% profit jump

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The November and December interest rate cuts did nothing to dampen borrower enthusiasm for fixed-rate mortgages, which surged to nearly a quarter (24%) of all mortgages approved by Mortgage Choice brokers in December. 
The December figure is 3% higher than fixed-rate loan approvals recorded in November and the seventh consecutive month (since June 2011) that fixed rates have grown in popularity. 
Demand for fixed-rate mortgages is now at a three-and-a-half-year high, with customer demand for variable rate loans falling from 79% to 76% over the month. 
Demand for fixed-rate mortgages is also well above both the 12-month average (15%) and the six-month average (18%). 
The growing appetite for fixed-rate loans comes despite the pace of fixed-rate cuts dropping off ahead of the Christmas break and mortgage market analysts forecasting demand for the products to fall as the RBA enters a rate loosening phase. 
Westpac brands the Bank of Melbourne and St George cut their fixed rate mortgages on December 22.
<img src="/images/stories/mcjan6.gif">
Source: Mortgage Choice
According to Mortgage Choice spokeswoman Belinda Williamson cheap rates and the repayment certainty are two factors that may convince borrowers to choose a fixed-rate product. 
“Consecutive cash rate cuts in November and December 2011 have not swayed Australian borrowers’ desire for fixed-rate loans,” she says. 
“It is possible borrowers’ need for certainty around their home loan repayments, coupled with the affordability of fixed-rate loans, are the driving forces behind demand for this loan type. 
“During December fixed rates were significantly lower than variable rates, in some cases the difference was one percentage point or more.” 
According to Mortgage Choice data, demand for ongoing discount mortgages – where the rate is discounted over the life of loan – dropped from 44% to 41%, but this type of mortgage still remains the most popular product offering and its popularity remains above a 12-month average of 35% of all mortgages.
 
 
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