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>
Mortgage lending franchise RAMS will pass on the full 25-basis-point rate cut to its borrowers, taking its standard variable rate to below that of all the major banks.
The RAMS standard variable rate will drop to 7.38% on Friday (November 4) below that of NAB, which we will cut its rate to 7.47% three days later and has decided to pass on 20 basis points of the official 25-basis-point cut. 
RAMS is owned by Westpac and has a strong footing in the first-home buyer and self-employed market.
 
RAMS chief executive Melos Sulicich says RAMS continues to be committed to providing Australians with the best possible deal. 
“As a specialist local lender we hear and understand the concern about interest rates and think this reduction will have a positive effect for both homeowners and the wider community. It also shows our continued commitment to providing competitive deals,” he says. 
“For many Australians, their biggest monthly expense is their mortgage and it’s important to check it’s still working for you. If not, now is a great time to re-look at the market.”
</body></html>

lschlesinger-FZcF9M3vE6

RAMS undercuts all major banks

<html><body>
NAB will pass on only 20 basis points of the official RBA 25-basis-point cut announced yesterday, a move that is likely to annoy borrowers, despite the bank maintaining the lowest standard variable rate of the big four banks with its current rate of 7.67% reducing to 7.47% on November 7.
NAB's rate cut will be a week earlier than Westpac, which will reduce its standard variable rate to 7.61% and ANZ (down to 7.55%), but three days later than the Commonwealth Bank (down to 7.56%).
Lisa Gray, group executive of NAB personal banking, says the bank has had lowest standard variable home loan rate of the major banks for more than 28 months. 
Gray says that volatile overseas markets and impending global banking security requirements has pushed up the costs of providing funds for lending.
“We are committed to offering the most competitive standard variable interest rate possible and these decisions are never taken lightly. However, the current instability in Europe presents us with additional funding pressures, as costs of funds continue to rise,” she says. 
While the bank did not pass on the full rate cut, it will cut deposit interest rates by the full 25 basis points on some products. 
Other major lenders to announce they are passing on the full rate cut include Westpac subsidiaries the Bank of Melbourne and St George which have both cut their standard variable rate to 7.55%. The rate cuts will take effect on November 14, in line with parent Westpac. 
The Bank of Queensland says it will pass on the full 25 basis point cut on November 11 bringing its standard variable rate home loan to 7.61% with CEO and managing director Stuart Grimshaw saying it was ‘the right thing to do’.  
“A lot of people around Australia are struggling and, with Christmas around the corner, offering our customers this rate relief is the right thing to do,” he adds.
ANZ chief executive Australia Philip Chronican says the bank will be passing on the rate cut despite higher funding costs.
</body></html>

NAB the only bank not to pass on full rate cut, but claims to still have lowest rates

<html><body>
Sydney property owners are the savviest of home loan borrowers and know refinancing can provide better rates and fees, according to a recent HSBC survey.
Polling more than 30,000 Sydney and Melbourne respondents, the survey suggested 80% of Sydney borrowers know their home loan rate, 76% know what fees they pay and 85% think refinancing could reduce their costs further.
Alice Del Vecchio, the head of mortgages for HSBC Bank Australia, says Sydney’s higher average dwelling price of $504,500 compared to the national average of $443,000 was the likely driver for Sydney’s heightened awareness.
“Having a larger financial commitment means home loan rate payments and fees are front of mind for Sydney borrowers,” Del Vecchio says.
“Being more sensitive to interest rate changes, Sydney borrowers clearly see the benefit of shopping around for their home loan.”
Although Sydney borrowers' refinance awareness was higher relative to Melbourne – 85% versus 26% believing they can save money – the survey showed there are still pockets of customers in both cities missing possible savings by failing to explore refinancing.
In Melbourne 60% of borrowers know their rate and 25% know what fees they are paying.
Del Vecchio says the lack of awareness towards refinancing could stem from a perception that it involved paperwork, research and additional costs.
“Customers don’t seem to realise that now is an optimal time to consider refinancing.
“It is a highly competitive lending environment right now and banks are working really hard to win borrowers’ business.”
</body></html>

jchancellor-FAypfDUnLy

Sydneysiders the savviest mortgage refinancers: HSBC

<html><body>
Queensland-based mortgage lender FirstMac has revealed strong profit figures for the 2011 financial year with both operating profit before tax and net profit after tax well above five-year average figures. 
The company reported operating profit before tax of $15.7 million and net profit after tax for the year of $9.5 million, compared with five-year averages of $10.9 million per annum and $6.0 million per annum respectively. 
Loans and advances for 2011 fell marginally from the previous year to $4.4 billion, representing a 2% decrease, with new loan originations broadly equivalent to the level of discharges. 
The lender forecasts loans and advances to increase over the course of 2011-12 as a result of increasing origination levels and following the launch of its online direct retail model branded Loans.com.au. This new distribution channel commenced in March 2011, with increasing settlement volumes experienced from June 2011. 
FirstMac noted that while the average cost of funding across its mortgage portfolio increased over the 2011 financial year, residential mortgage assets have re-priced in line with major bank margin increases, benefiting the group’s net interest margin. 
FirstMac managing director Kim Cannon says the group has maintained its distribution network since the start of the GFC and continues to originate new mortgages. 
“FirstMac provides the proof that it is possible to offer home loan products with competitive interest rates and also maintain a healthy net interest margin. If we can do this, it is possible for all lenders to do.” 
FirstMac was one of the few non-bank lenders able to continue lending during the GFC and has successfully participated in the Australian government’s mortgage securitisation program, raising $1.4 billion from the scheme. 
In 2002 FirstMac entered the securitisation market and began self-funding its own loan business, by issuing bonds on global capital markets. Since 2003, FirstMac has publicly issued over $9 billion of residential mortgage-backed securities.
</body></html>

FirstMac posts strong profits for 2011 financial year

<html><body>
Westpac is the first of the major lenders to say it will pass on today’s 0.25% rate cut in full to its variable rate mortgage holders, though borrowers will have to wait two weeks for some relief. 
The bank says it will cut its standard variable home loan rate by 0.25% to 7.61% per annum with the new rate only becoming effective on Monday, November 14. 
The Commonwealth Bank has also confirmed that it will pass on the full 0.25% to its borrowers, but will cut rates 10 days sooner on November 4 with its base variable rate reducing to 7.05%. 
“A reduction in interest rates will provide a timely boost to sentiment and generate a positive flow-on effect for the broader Australian economy,” said Rob Coombe, group executive Westpac Retail and Business Banking. 
Both banks were beaten to the bell by super fund-owned ME Bank, which announced last week that it would pass on any interest rate cut in full to its customers. 
It confirmed this move today following the RBA decision with Ian Hendey, group executive of brand, product and distribution, saying its decision “highlights the importance of acting in the best interest of customers, especially in an environment where concern over shareholder profit often supersedes customer-centric strategy”. 
“This time last year, when the RBA raised its cash rate by 0.25% p.a., ME Bank bucked the trend by doing the right thing by its customers and only raising its standard variable home loan rates in line with the cash rate rise of 0.25%," he says.
Online lender loans.com.au says it will pass on the full rate cut to borrowers immediately. 
Loans.com.au managing director Marie Mortimer says the interest rate cut would not only be passed through to those who hold existing loans but would be extended to potential borrowers who had already applied for preapproval on their new home loans.
“From Wednesday (November 2), this entire group can expect to save almost $50 a month on the cost of an average home loan of $300,000 as their interest rate will be slashed by the full 0.25%,”she says.</body></html>

Banks start passing on rate cut with varying speed

<html><body>
On the back of the majority of lenders cutting their fixed rate mortgages over the past few months, the popularity of fixed rates has soared to a three-and-a-half year high, according to October approval figures from mortgage broker Mortgage Choice. 
In October, nearly 20% of borrowers took out a fixed-rate mortgage product, up from 17% in September and significantly higher than the 12-month average of 13.5%. 
Fixed-rate mortgages are now more popular than the traditionally popular “no frills” basic variable loan and the more feature-rich standard variable loan, which were each selected by about 15% of borrowers. 
Ongoing discount mortgages, where the rate is discounted over the life of the loan in return for an annual fee, remain by far the most popular product choice (43% of approvals), but their popularity declined slightly in October.
<img src="/images/stories/mcnov1.gif">
Source: Mortgage Choice
Basic variable rates were the most popular with new home loan borrowers only 11 months ago. At that time, the product type accounted for 34% of the broker’s new approvals. 
Today, this sits at less than 16%, the second lowest point since Mortgage Choice began recording such data in January 2003. 
<a href="/news">According to mortgage comparison website</a> Ratecity.com.au, 70% of lenders, including<a style="font-size: 14px; text-align: left;" href="/news" target="_blank"> St George</a>, <a style="font-size: 14px; text-align: left;" href="/news" target="_blank">Westpac</a>, <a style="font-size: 14px; text-align: left;" href="/news" target="_blank">Greater Building Society</a>, <a style="font-size: 14px; text-align: left;" href="/news" target="_blank">Credit Union Australia</a> and <a style="font-size: 14px; text-align: left;" href="/news" target="_blank">ING</a>, have cut their fixed mortgage rates recently.
Company spokeswoman Kristy Sheppard says comparing October 2011 loan approval data with that extracted one year ago shows “how much the industry has changed in reacting to subdued housing finance demand and a relatively positive interest rate outlook”. 
“Then, basic variable rate was the loan of choice at just over 34% of approvals. Standard variable rate followed with just under 34%, then ongoing discount rate at 17% and fixed rate at 11%. 
“That situation has now flipped. New borrowers’ appetite for fixed rate loans is at a three and a half year high of 20% of approvals and ongoing discount rate loans account for 43% of approvals. 
“In an environment of rising living costs and economic uncertainty it is unsurprising borrowers are taking advantage of the relatively low fixed rates and attractive variable rate discounts offered by lenders hungry for business,” she says. 
The popularity of standard variable, line of credit (popular with investors) and introductory rate home loans all fell in October, to 15%, 4% and 1% of approvals respectively.
</body></html>

More borrowers locking in interest rates: Mortgage Choice

<html><body>
Mortgage lending recorded another modest 0.5% increase in September, according to RBA statistics.

The 0.5% increase follows an increase of 0.4% over August. For the year to September, housing credit is up 5.8%.

The September figure is the ninth consecutive monthly increase of either 0.5% or 0.4%.

In December 2010 housing credit increased by 0.6%. March 2010 was the last time it increased by 0.7%.

Over the month, loans for owner-occupiers increased by 0.5% to be up 6.4% for the last 12 months, while loans for investment purposes increased by 0.4% to be up 4.6% for the same period.

The growth in mortgage lending was in line with total credit provided to the private sector by financial intermediaries, which increased by 0.5% during September 2011, after rising by 0.2% during August.

Other personal credit rose by 0.4% over September, after decreasing by 1.1% over August. Over the year to September, other personal credit decreased by 0.9%.

<p style="margin-top: 0cm; margin-right: 0cm; margin-left: 0cm; margin-bottom: 0.0001pt; line-height: 15.6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; vertical-align: baseline;">Business credit rose by 0.4% over September, after rising by 0.1% over August. Over the year to September, business credit increased by 0.2%.
</body></html>

Mortgage lending up modestly in September

<html><body>
The government’s First Home Saver Account (FHSA) incentive is finally gaining traction among first-home buyers, with a 56% rise in new accounts in the June quarter, according to the latest figures from the Australian Prudential Regulation Authority.
Over the first six months of 2011, the scheme attracted more than 6,000 account holders, and account holder numbers are up 95% since September 2010. 
As of June, 2011, nationwide there were 31,000 open FHSA, containing a total of $230 million. This figure is still just a fraction of the 220,000 first-home savers projected to open accounts by 2009 and is unlikely to ever reach the 2012 target of 700,000.
The take up of the savings scheme was clouded by the First Home Owner Boost scheme, which ran from October 2008 to the end of 2009 and encouraged first-home buyers to purchase a home sooner rather than save.
The increase has come despite the <a href="https://www.propertyobserver.com.au/news/anz-the-only-bank-to-offer-government-backed-first-home-saver-accounts-as-cba-exits/2011082251243" target="_blank">Commonwealth Bank, the nation's largest home lender, dumping the scheme</a> in August, leaving the ANZ as the only major bank to offer the savings accounts. Only 18 financial institutions offer the accounts, mostly credit unions.
The scheme aims to help first-time buyers save for a deposit for their first homes.  Under the FHSA, the government contributes 17% on the first $5,500 of individual contributions made each year. Account holders are required to keep savings in the FHSA for four financial years before they can use the funds to buy a home.
The government amended the scheme on May 25 to allow savings in an account to be paid into an approved mortgage after the end of a minimum four-year qualifying period, rather than requiring the money to be paid into a superannuation account.
Under the original policy, if the account holder bought a home before the end of that four-year period, the balance of their account was required to be transferred into the borrower’s superannuation fund so that it remained in a concessionally taxed environment.
“We believe further improvements to the scheme to make it more flexible that were passed by federal parliament earlier this year are helping to boost interest in FHSA,” says Dean Rushton, chief operating officer at mortgage broker Loan Market.
Rushton says previous Loan Market surveys found consumers had been confused about the scheme and believed it was too restrictive. 
“While we have seen some lenders recently remove their interest in the scheme, there still remains substantial support from the government to help potential buyers save towards a home loan deposit,” he says. 
The FHSA was launched in October, 2008 with an original target of assisting 700,000 people in its first four years of operation.
“The fact remains this is a positive initiative and it needs to continue to increase its exposure. Loan Market certainly encourages people looking to enter the property market to consider the FHSA,” Rushton says.
The property FHSA recipients buy must be their main residence for a continuous period of at least six months. The six-month period must start within 12 months of becoming the owner of the home, meaning buyers could rent out the property during the first 12 months or after living in it for six months.
For more about buying your first investment property, download our free e-book.
</body></html>

First home saver accounts becoming more popular

<html><body>
Potential first-time buyers – some as investors while they rent – continue to seek 100% no-deposit home loans even though banks no longer offer them.
Dean Rushton, chief operating officer of mortgage broker Loan Market says 7% of the brokerage's total enquiries during October 2011 had come from people wanting no-deposit home loans.
"There remains strong interest from people who want to enter the real estate market and borrow the entire cost of the property," Rushton notes.
"But the modern-day lending reality is that if you want to obtain housing finance you have to save for a deposit.”
In late 2008 at the onset of the global financial crisis homebuyers began to find it hard to get no-deposit loans from banks such as the Commonwealth Bank of Australia.
At the time the JP Morgan banking analyst Brian Johnson suggested stricter lending standards were here to stay.
"The era of getting very easy credit to buy a house is over," he suggested.
Aussie Home Loans boss John Symond was prompted to suggest the tightening signalled a return to sensible lending practices.
"Banks have got to have prudent lending," he suggested in 2008.
"People buying home in Australia with little or no deposit is a flawed process.”
Rushton suggests lending restrictions requiring genuine savings contributions of around 5% towards the property purchase demonstrates to the lender that you have the capacity to save money and budget.
He suggests would-be buyers are best off to develop a savings plan early to build a home deposit.
"Borrowers should consider saving for as large a deposit as possible as both interest and lenders mortgage insurance costs increase substantially the more you borrow," he says.
For more about buying your first investment property, download our free e-book.
</body></html>

First-home borrowers still looking for no-deposit home loans

<html><body>
A now expected RBA rate cut on Melbourne Cup Day will save the average mortgage holder around $46 a month, according to mortgage comparison website RateCity. 
The figure is calculated based on the cash rate being cut by 25 basis points to 4.5% and lenders passing on this rate cut to borrowers on variable rate mortgages.
Speaking on ABC radio today, federal Treasurer Wayne Swan said there would be “no excuse whatsoever” for banks not to pass on the expected rate cut. 
Based on an average mortgage size of $288,000 and a variable mortgage rate of between 6.86% and 7.11%, a 25-basis-point trim would give borrowers an extra $46 to spend on other goods, save for a rainy day or perhaps, as Tony Abbott suggests, blow on the pokies.
On average NSW borrowers will see the greatest reduction in monthly mortgage payments with $51 per month being trimmed while Tasmanians, which have the smallest average loan size ($187,000) will see the smallest jump in bank balances of just $30 per month.
How a 0.25% rate cut impacts variable rate mortgage borrowers across Australia
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
Average mortgage size
</td>
<td valign="top" width="123">
Monthly repayment at current benchmark variable rate (7.11%)
</td>
<td valign="top" width="123">
Monthly repayment if benchmark variable rate cut by 0.25%
(6.86%)
</td>
<td valign="top" width="123">
Monthly saving if rate cut by 0.25%
</td>
</tr>
<tr>
<td valign="top" width="123">
National  
</td>
<td valign="top" width="123">
$288,300 
</td>
<td valign="top" width="123">
$2,058 
</td>
<td valign="top" width="123">
$2,012 
</td>
<td valign="top" width="123">
$46
</td>
</tr>
<tr>
<td valign="top" width="123">
First home buyer
</td>
<td valign="top" width="123">
$283,900
</td>
<td valign="top" width="123">
$2,027
</td>
<td valign="top" width="123">
$1,981
</td>
<td valign="top" width="123">
$45
</td>
</tr>
<tr>
<td valign="top" width="123">
NSW
</td>
<td valign="top" width="123">
$320,500
</td>
<td valign="top" width="123">
$2,288
</td>
<td valign="top" width="123">
$2,237
</td>
<td valign="top" width="123">
$51
</td>
</tr>
<tr>
<td valign="top" width="123">
VIC
</td>
<td valign="bottom" width="123">
$290,700
</td>
<td valign="top" width="123">
$2,075
</td>
<td valign="top" width="123">
$2,029
</td>
<td valign="top" width="123">
$46
</td>
</tr>
<tr>
<td valign="top" width="123">
QLD
</td>
<td valign="top" width="123">
$279,300
</td>
<td valign="top" width="123">
$1,994
</td>
<td valign="top" width="123">
$1,949
</td>
<td valign="top" width="123">
$45
</td>
</tr>
<tr>
<td valign="top" width="123">
SA
</td>
<td valign="top" width="123">
$228,400
</td>
<td valign="top" width="123">
$1,630
</td>
<td valign="top" width="123">
$1,594
</td>
<td valign="top" width="123">
$36
</td>
</tr>
<tr>
<td valign="top" width="123">
WA
</td>
<td valign="top" width="123">
$265,300
</td>
<td valign="top" width="123">
$1,894
</td>
<td valign="top" width="123">
$1,851
</td>
<td valign="top" width="123">
$42
</td>
</tr>
<tr>
<td valign="top" width="123">
TAS
</td>
<td valign="top" width="123">
$188,700
</td>
<td valign="top" width="123">
$1,347
</td>
<td valign="top" width="123">
$1,317
</td>
<td valign="top" width="123">
$30
</td>
</tr>
<tr>
<td valign="top" width="123">
NT
</td>
<td valign="top" width="123">
$279,200
</td>
<td valign="top" width="123">
$1,993
</td>
<td valign="top" width="123">
$1,948
</td>
<td valign="top" width="123">
$45
</td>
</tr>
<tr>
<td valign="top" width="123">
ACT
</td>
<td valign="top" width="123">
$273,500
</td>
<td valign="top" width="123">
$1,952
</td>
<td valign="top" width="123">
1,909
</td>
<td valign="top" width="123">
$44
</td>
</tr>
</tbody></table>
Source: RateCity, Australian Bureau of Statistics August 2011 Housing Finance data
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