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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

NAB bring forward first RBA cut to February 2025

<html><body>
For many Australians, the joy of Christmas time is generally accompanied by increased expenditure as people spend big on presents, socialising, travel and the like.  And for those borrowers already having difficulty meeting mortgage repayments, unfortunately Christmas brings little relief – instead it can be a time of increased financial hardship and stress. 
There are a number of ways that borrowers can look to avoid experiencing mortgage stress over the Christmas period, or at the very least, reduce it.  In my experience, planning ahead is key – the more you can anticipate costs in advance and allocate funds where necessary, the better positioned you will be to maintain your regular mortgage repayments. 
Carefully budget
It sounds obvious, but surprisingly many people do not stick to a budget at Christmas and get swept away with the various novelty items that can be purchased.  However when you overspend on unnecessary items it can be tempting to make up the shortfall by skipping an often sizeable mortgage repayment which can be expensive – both in terms of the fees incurred as well as the extra accrued interest that gets added to your overall amount owing. 
Budgeting doesn’t mean you have to be a scrooge, rather it involves considering everything that you will need to purchase over the season, including presents, food stuffs and beverages, decorations, cards and postage costs etc.  With all of your expenses laid out, it is easier to realistically see what you can afford and how your available capital can be best allocated.  This knowledge should put you in a better position to avoid skipping a mortgage repayment and can also help to reduce levels of anxiety.
 
Assess your mortgage options
While every mortgage package is different and each lender has varying conditions, there may be certain steps you can take to manage your mortgage at Christmas time. 
If you have been consistently paying an amount above the minimum repayment due then you could have a buffer that may allow you to reduce your repayments to the minimum level due over Christmas time, giving you somewhat of a reprieve over the costly period.  If you are not in such a position this year, it is certainly worth considering paying above the minimum amount over the course of next year, particularly as interest rates may move downwards, which should better prepare you to cope financially next Christmas. 
For those borrowers who will struggle to make the minimum repayment required due to increased Christmas expenses, various lenders may offer suitable options such as repayment holidays, which could see you able to put your repayments on hold for a specified period.  While convenient at the time, these options should be approached with care, as they will almost always incur a fee and interest will continue to accrue. 
Mortgage management over the expensive Christmas season is certainly possible but takes planning and careful budgeting.  For those people in serious mortgage stress, I would highly recommend sitting down with your lender to discuss your situation and to see the types of remedies that can be offered.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a> 
 
 
 
</body></html>

ctarbey-W47GL9jwxa

Avoid mortgage stress over Christmas

<html><body>
Westpac subsidiary brands St George and Bank of Melbourne has followed their parent bank by passing on the full RBA rate cut.
Both banks will reduce their standard variable home loan rateby 0.25% to 7.3% per annum. However, Bank of Melbourne will cut its rate on December 16 while St George will wait until December 19 before passing on the rate cut.
Both banks have also cut variable business loan and business overdraft rates by 0.25% – effective from the same dates.


“St George cut its standard variable home loan rate by 0.25% in November and I’m pleased to let our customers know we’ve decided to cut our rates by a further 0.25%,” says St George Bank chief executive Rob Chapman.
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Westpac brands deliver full rate cut

<html><body>
Westpac and CBA joined their major bank rivals NAB and ANZ by passing on the full 0.25 cash rate cut to their variable home rate borrowers.
Their decisions came after the close of business. Westpac and CBA's rate cuts will kick on December 19, while ANZ and NAB will cut rates on December 16.
Earlier in the day, NAB became the second major lender to pass on the full RBA rate cut, following on from <a href="/news">ANZ</a>, which was first out the blocks.
Having taken more than two days to make up its mind, the NAB reminded borrowers that for 29 months it has offered the lowest standard variable home loan rate of the major banks.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td colspan="2" valign="top" width="567">
Announced Standard Variable Rate p.a., as at 8pm 8 December 2011 
</td>
</tr>
<tr>
<td valign="top" width="371">
NAB 
</td>
<td valign="top" width="196">
7.22%
</td>
</tr>
<tr>
<td valign="top" width="371">
ANZ 
</td>
<td valign="top" width="196">
7.30%
</td>
</tr>
<tr>
<td valign="top" width="371">
CBA 
</td>
<td valign="top" width="196">
7.31%
</td>
</tr>
<tr>
<td valign="top" width="371">
WBC 
</td>
<td valign="top" width="196">
7.36%
</td>
</tr>
</tbody></table>
NAB customers will save $62 per month on an average $300,000 NAB home loan.
Lisa Gray, group executive NAB Personal Banking, says the decision was a  difficult one,  “where we have had to weigh the concerns of our customers and the community with the rising cost of funds”.
“While we continue to be concerned about uncertainty in Europe and the impact on increased funding costs, our view is that it is important to put money back in the hands of our customers and assist with supporting the Australian economy this Christmas.
“We remain concerned about rising funding costs and will continue to monitor developments overseas.”
<a target="_blank" href="/news">Bank of Queensland</a> and <a target="_blank" href="/news">ME Bank</a> have also decided to pass on the rate cut in full.
</body></html>

All big banks follow ANZ's lead in passing on full rate cut

<html><body>
It has taken almost two days, but ANZ has jumped first, breaking the big bank silence and passed on the full 25-basis-point rate cut to its borrowers.
 
The bank says it will lower interest rates for variable-rate mortgages and small business lending by 0.25% per annum effective from December 16. 
This will reduce its new standard variable mortgage rate to 7.3% per annum.
 
In addition, the bank has introduced a special two-year fixed-term mortgage at 5.95% per annum on December 12. This is a reduction of 0.2% per annum on the current two-year rate and 1.35% per annum lower than ANZ’s new standard variable rate. 
The bank says future pricing decisions will be made on the second Friday of each month, (rather than following RBA rate decisions). 
ANZ chief executive Australia Philip Chronican says: “In the face of the economic and banking crisis in Europe, our decision on the size of the interest rate change has been one of the most difficult we have made in recent times. Retail banking margins have been contracting as the cost of funds has progressively risen over the last six months. 
“Bank funding costs are now largely unrelated to movements in the Reserve Bank’s Official Cash Rate. We have therefore taken a decision to announce future pricing changes for retail and small business variable interest rates on the second Friday of each month. 
“This provides a measure of predictability for customers on when rate changes will occur and it provides us with the flexibility to reflect movements in funding costs across the full spectrum of funding sources – not solely in response to the Reserve Bank’s cash rate. 
“We know many people in the community are doing it tough at the moment and, on this occasion, we felt that a decision to reduce interest rates by 0.25% per annum for home borrowers and for small business was the right one in the circumstances. 
“The significance of the crisis in Europe however has real consequences for the global economic outlook, for the Australian economy and for bank funding costs,” he says.
 
 
</body></html>

ANZ to pass on full 25-basis-point rate cut to borrowers

<html><body>
Federal Treasurer Wayne Swan says borrowers who are not satisfied with the response of the major banks to the December 6 rate cut should vote with their feet and switch lenders.
A move away from the majors to some of the second-tier lenders would certainly increase competition in the sector.
According to mortgage broker AFG’s November report, the major banks increased their dominance of mortgage lending, accounting for 80.4% of all loans processed, compared with 78.9% in October.
In addition, all the major banks delivered record profits this financial year, with Westpac earning $6.99 billion (10% up), the Commonwealth Bank taking home $6.1 billion (40% up), NAB earning $5.5 billion (19.2%) and ANZ earning $5.4 billion (19%).
Collectively that totals about $24 billion, greater than gross national products of Taiwan, the Czech Republic and Hungary, to name just a few.
For the millions of borrowers still waiting to hear how much of the RBA’s 0.25% cash rate cut the major banks will pass on, here’s a rundown of just how big their mortgage books are:
$304.2 billion
The size of the Commonwealth Bank mortgage book (including Bankwest)
$287 billion
The size of the Westpac mortgage book (including St George)
$174.7 billion
The size of NAB’s mortgage book
$160 billion
The size of ANZ’s mortgage book
$37 billion
The size of the ING Direct mortgage book
$29.6 billion
The size of the Suncorp mortgage book
$21.6 billion
The size of the Bendigo and Adelaide Bank mortgage book
$21.2 billion
The size of Bank of Queensland’s mortgage book
$7.2 billion
The size of the HSBC mortgage book
$7.1 billion
The size of Citibank’s mortgage book
$6.4 billion
The size of AMP’s mortgage book
$5.4 billion
The size of the Members Equity Bank mortgage book
$2.3 billion
The size of Macquarie Bank’s mortgage book
 
Source: APRA October 2011 monthly banking statistics
 
 
 
</body></html>

Major banks’ mortgage books soar as borrowers toy with swapping lenders 

<html><body>
As the stand-off between the big banks and their borrowers enters an unprecedented second day, credit unions and mortgage minnows have shown up their bigger rivals by passing on most of the November 6 rate cut.
BMC Mortgage, Collins Home Loans, Credit Union SA, Hemisphere Financial, Police and Nurses Mutual Banking, The Capricornian and Unicredit WA have all passed on at least 16-basis-point reductions to customers, according to RateCity.com.au.
Lenders that have cut rates
<div align="center">
<table style="width: 450px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="29%" nowrap>
Lender 
</td>
<td width="43%" nowrap>
Product 
</td>
<td width="12%" nowrap>
New rate 
</td>
<td width="15%" nowrap>
Cut by 
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Platinum Pack
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Advantedge
</td>
<td width="12%" nowrap>
6.93%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Premium Variable
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.47%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
First Home Buyer Low Deposit
</td>
<td width="12%" nowrap>
7.46%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Go Between Loan
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.16%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
First Home Loan
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable &lt;299k
</td>
<td width="12%" nowrap>
7.22%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable Unlimited
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Contour Loan
</td>
<td width="12%" nowrap>
7.44%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Home Loan
</td>
<td width="12%" nowrap>
7.04%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Horizon Loan
</td>
<td width="12%" nowrap>
6.69%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Quickstart Loan
</td>
<td width="12%" nowrap>
7.34%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Easypay Variable
</td>
<td width="12%" nowrap>
7.03%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Dream Home Loan Var
</td>
<td width="12%" nowrap>
6.74%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Life Style Home Loan
</td>
<td width="12%" nowrap>
7.09%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
7.60%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My Advantage Variable 50K to 2M
</td>
<td width="12%" nowrap>
7.10%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My First Home Loan Variable 50K to 750K
</td>
<td width="12%" nowrap>
6.70%
</td>
<td width="15%" nowrap>
-0.65%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Unicredit-WA
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
 
</td>
<td width="43%" nowrap>
 
</td>
<td width="12%" nowrap>
 
</td>
<td width="15%" nowrap>
 
</td>
</tr>
</tbody></table>
</div>
They join <a target="_blank" href="/news">Bank of Queensland</a>, <a target="_blank" href="">ME Bank</a> and <a target="_blank" href="/news">Heritage Bank</a> (all of whom have passed on the rate cut in full) to announce their interest rate decisions.
The mortgage comparison website calculates that just 6% of more than 110 lenders on its site have announced that they will pass on at least part of the Reserve Bank's 0.25% reduction to mortgage customers (as of December 7).
It expects the majority of lenders to move over the coming weeks as they did in November.
Alongside the Big Four banks and their subsidiary brands ING Direct and Citibank have yet to make any announcement about rate cuts following the RBA cutting the cash rate by 25 basis points on December 6.
Damian Smith, RateCity's CEO, says switching to another lender may be more cost-effective than many borrowers realise.
"If your lender doesn't move on rates this month and you end up with a rate over 7% by January, then switching to a another lender may see you in front financially in less than one year," he says.
The average upfront fee when switching to a new home loan is $535 for home loans in the RateCity database. Some lenders may also be required to pay an exit fee if they signed up to their existing loan before July 1.
"For a borrower with a $400,000 home loan and paying the average of the big four bank's standard variable rates of 7.55% would need to switch to a new rate of 7.38% (0.17% less) to recoup the costs of switching within the first 12 months.
"Borrowers currently paying a rate of 7.1% would need to switch to a rate of 6.93% to recoup the costs of switching in the first year.
"There is really no need to stick with your current lender if they aren't willing to budge on interest rates or they aren't one of the most competitive on the market,” Smith says.
</body></html>

Mortgage minnows show up major banks on rate cuts 

<html><body>
As the major banks continue to hold off on making interest rate decisions, Heritage Bank has joined <a href="/news">Bank of Queensland</a> and <a href="/news">ME Bank</a> by passing on the full 25-basis-point rate cut to its borrowers.
Heritage’s discount variable mortgage rate will now drop to 6.35% from 6.6% and the standard variable mortgage rate will drop to 6.94%, down from 7.19%. The reductions will be effective from December 16. CEO John Minz says passing on the full interest rate reduction is the right thing to do by its members. “With Christmas just around the corner, many of our members are facing added expenses. Passing on the full RBA cut on our variable home loan rates will help make their festive season just that little bit less stressful.” Minz says the rate cut was a concrete demonstration that the change of name to Heritage Bank last week (from Heritage Building Society) had not changed Heritage’s focus on the interests of members. “We remain absolutely committed to ensuring we deliver the best value possible to members,” he says. “At Heritage, we’re not about generating the biggest profits we can. We’re all about the best interests of our members and the communities in which they live.”
 
</body></html>

Heritage Bank third lender to pass on full RBA rate cut

<html><body>
ME Bank has joined Bank of Queensland in vowing to pass the RBA’s full 25-basis-point rate cut onto customers.
“As part of our commitment to looking after customers over the long term and offering a fairer banking alternative, ME Bank has decided to pass on the full 0.25% p.a. reduction to our customers,” says Jamie McPhee, ME Bank’s chief executive officer.
The cut will mean the bank’s standard variable rate will drop to 6.74% from 6.99% per year.
“ME Bank remains committed to passing on the full benefits of the RBA’s rate cut to our customers – just as we did in November, because we believe everyone deserves a fairer deal.
"It’s high time the Big Four return their focus to the stakeholders that matter most – customers – and help relieve their financial burden wherever possible,” McPhee adds.
Customers with a $300,000 home loan will save $50 per month thanks to the cut.
 
 
</body></html>

cknowlton-QnEa6ntUYP

ME Bank passes on full rate cut

<html><body>
Brisbane-based Bank of Queensland is the first significant lender to announce that it will pass on the full 25 basis points cut announced by the Reserve Bank earlier today.
The bank will cut its standard variable home loan by 25 basis points as of December 16, bringing its standard variable rate home loan to 7.36% per year. 
BOQ chef executive and managing director Stuart Grimshaw says with Christmas just weeks away, giving customers this additional relief just makes sense. 
“Passing on the full 25-basis-point cut was the right thing to do last month and it’s the right thing to do this month,” he says.
However, he hinted that passing on full rate cuts in the future may be a challenge. 
“Our cost of funds do continue to increase so pricing remains a balancing act of shareholder and customer interests, but with Christmas less than three weeks away, we know our customers will appreciate the extra dollars in their wallet as they head into Christmas celebrations and family holidays,” he says.
 
 
</body></html>

Bank of Queensland the first to pass on rate cut

<html><body>
The decision by <a href="/news">Smartline and the Mortgage Gallery</a> to merge their businesses has created a new group to take on some of the biggest and most established mortgage broking franchises. Here’s a rundown of some of the biggest players in the market:
414
The number of <a href="/news">Mortgage Choice</a> franchises
350
The number of <a href="https://www.propertyobserver.com.au/showcase/wayne-ormond-s-refund-home-loans-owes-creditors-millions-as-relations-with-franchisees-turn-sour/2011111652384">Refund Home Loan franchisees</a> (currently in administration)
265
The number of ANZ Mobile Lenders
240
The number of franchises in the newly merged <a href="/news">Smartline and Mortgage Gallery</a> business
140
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=www.propertyobserver.com.au+john+symond&amp;source=web&amp;cd=1&amp;ved=0CB0QFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Fnow-may-be-the-time-to-fix-your-mortgage-john-symond&amp;ei=qz_cTrKjMOmZiQfhwtnCDQ&amp;usg=AFQjCNHjpyH2MZmeozKA1YWVh9g_Cl3rOg&amp;sig2=GGuHM2NLTpm5yMtPjYkdYg">John Symond’s</a> Aussie Home Loans stores
80
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=yellow+brick+road+property+observer&amp;source=web&amp;cd=1&amp;ved=0CC4QFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Findustry-news%2Fthe-apprentice-saved-yellow-brick-road-%2450-million-mark-bouris%2F2011112852573&amp;ei=YD_cTrquAYaviQf35b34DQ&amp;usg=AFQjCNG3SW_rSiEmynkfbos-YFRFz11ByA&amp;sig2=cygdz4IzX34ksMQO3WYU1g">Yellow Brick Road</a> branches
74
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=www.propertyobserver.com.au%20rams&amp;source=web&amp;cd=1&amp;ved=0CBwQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Frams-undercuts-all-major-banks&amp;ei=wj_cTsmXOcePiAeXpJTpDQ&amp;usg=AFQjCNEWrjwU0c4_PqClsVGlidZ8WAVjxA&amp;sig2=XnUCfavvB8o1izwrA13f5w">Rams Home Loans</a> centres
50
The number of LJ Hooker Financial Services offices
40
The number of Mortgage House branches
21
 
The number of Club Finance franchises
17
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=resi%20mortgage%20property%20observer&amp;source=web&amp;cd=1&amp;ved=0CFgQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Fmortgage-wars-not-always-good-for-borrowers-resi&amp;ei=3D_cTtXeIOutiQetlLXtDQ&amp;usg=AFQjCNE0l2m9u_rb3jK3v8VMBDHaX-65Hg&amp;sig2=PebdY6gmR7O_42psu8Y1zw">Resi Mortgage</a> branches
Note: Numbers indicate stores, branches and offices (not individual brokers) calculated based on website listings.
 
 
 
</body></html>

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News