<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>
Credit Union Australia (CUA), the nation’s biggest customer-owned lender, has cut its three-year fixed-rate home loan rate by five basis points to 6.34%, bringing it under the four major banks. 
The CUA’s three-year fixed-rate home loan is now 31basis points lower than the average of the Big Four’s equivalent three-year fixed-rate home loan products. 
It was recently voted a top three favourite home in the Mozo People’s Choice Awards 2011. 
“Given the current uncertainty in the market, Australians looking for stability and security around their mortgage repayments may find fixing their loan for a longer-term period of three years a good option,” says Andrew Hadley, CUA’s group GM for strategy and marketing.
Comparing fixed-rate home loans
<table border="1" cellspacing="0" cellpadding="0" width="429"><tbody>
<tr>
<td width="34%">
 
</td>
<td width="33%">
3 Year Fixed Rate 
</td>
<td width="33%">
Comparison Rate 
</td>
</tr>
<tr>
<td width="34%">
CUA
</td>
<td width="33%">
6.34%
</td>
<td width="33%">
7.02%
</td>
</tr>
<tr>
<td width="34%">
ANZ
</td>
<td width="33%">
6.59%
</td>
<td width="33%">
7.52%
</td>
</tr>
<tr>
<td width="34%">
Westpac
</td>
<td width="33%">
6.64%*
</td>
<td width="33%">
7.63%*
</td>
</tr>
<tr>
<td width="34%">
NAB
</td>
<td width="33%">
6.64%
</td>
<td width="33%">
7.49%
</td>
</tr>
<tr>
<td width="34%">
CBA
</td>
<td width="33%">
6.74%
</td>
<td width="33%">
7.62%
</td>
</tr>
</tbody></table>
Source: CUA, correct as of September 29, 2011 *Non-packaged rate
<a target="_blank" href="/news">Westpac</a>, <a target="_blank" href="/news">St George</a> and <a target="_blank" href="/news">The Greater Union Society</a> also cut their fixed rates this week.</body></html>

lschlesinger-FZcF9M3vE6

CUA undercuts major banks with fixed rate cut

<html><body>
St George Bank has joined the fixed-rate cutting party, trimming its rates for the fifth time in three months.
 
The bank has cut its three-year fixed home loan rate by 0.15 to 6.39% per annum as well as trimming its two-year fixed home loan rate by 0.05% to 6.39% for its Advantage Package customers. 
It follows parent bank <a href="/news">Westpac cutting its fixed rates </a>earlier this week. <a href="/news">The Greater Building Society </a>also cut its rates earlier this week.
St George Bank chief executive Rob Chapman says today’s decrease means the bank has cut its three-year fixed home loan rate by 0.9% per annum since it began cutting fixed rates in July this year. 
The Advantage Package includes a home loan, credit card, and transaction account. 
Chapman says a fixed rate mortgage offers “the reassurance of repayments locked in for a fixed period” 
According to RateCity’s Damian Smith <a href="/news">cashed-up banks will continue to cut fixed rates</a> in an effort to stimulate first home buyer interest and lock borrowers in for longer periods of time.
</body></html>

St George joins Westpac in cutting fixed rates

<html><body>
Ahead of the October Tax Forum, The Housing Industry Association has demanded drastic measures at both federal and state levels to cut housing taxes.



The industry body points to research by the Centre for International Economics that has found that residential building is the second most heavily taxed sector in Australia in relative terms (after retailing), with the average tax burden estimated at around 31% of the value of output compared with an economy-wide average of 24.4%.



New housing contributes more than twice as much in government taxation revenues (2.8%) as it does in value added to the economy (1.2%).



Sydney home buyers are feeling the brunt of the tax burden, paying an estimated 44% or $268,000 of the purchase price in taxes, followed by Melbourne buyers (38%, $184,000) and Brisbane (36%, $191,000) buyers. 
<img src="/images/stories/hiasept291.gif">
About 40% of the tax bill is made up of what the CIE classifies as “hidden and ambiguous taxes” including the “excessive portion” of infrastructure charges and the cost of meeting “overly stringent” minimum energy efficient ratings. 
Direct taxes – stamp duty, land taxes and GST – make up 28% of the tax bill while indirect taxes – taxes on resources: capital, labour and land – account for 32%. 
Stamp duty, which is levied at a state level, is deemed the most inefficient tax, according to the CIE report, which estimates that cutting stamp duty by $500 million would create a $738 million benefit to consumers and up to a $51 million benefit to producers.
<img src="/images/stories/hiasept292.gif">
Overall, the CIE report say policy action to remove or significantly housing taxes will “pay big dividends in terms of improved efficiency, faster growth and increased housing supply”. 
“It’s time to recognise and act on the fact that the tax burden on new housing in Australia is excessive,” says HIA managing director Shane Goodwin. 
“We’ve got to the point where the tax on a median new Sydney home is over $260,000, and it’s clear the type of impact this is having in terms of decreased affordability and constrained housing supply.” 
According to the HIA, the tax forum presents an opportunity for the Gillard government to put in place the foundation for a strong taxation reform agenda that will not only boost productivity and growth, but can help address policy issues such as Australia’s large and growing housing affordability problem.
</body></html>

HIA demands tax relief for new housing ahead of tax summit

<html><body>
Banks will continue to trim their fixed-rate mortgages, but by smaller margins, according to RateCity CEO Damian Smith. 
“There are more rate cuts to come, but in the absence of an RBA rate cut, it would be hard to see them coming down as fast as they have since the start of August,” he tells Property Observer. 
Smith says although banks won’t admit it, they are “awash with cash right now”. 
“Term deposit rates are declining far more than banks have budgeted for. They are looking to get this money off their books,” he says. 
Smith says banks are also trying to kick-start the first-home buyer market, which according to RateCity research is down $11 billion compared with 12 months ago. 
“Banks don’t have too many other tools available to them right now. They can’t cut variable rates because that will affect all customers and they don’t want to crazy on LVRs because they don’t want to take on bad customers,” he says. 
Furthermore, the ban on exit fees has made fixed-rate loans more attractive to lenders, as it allows them to lock borrowers in for a longer period of time. 
About 70% of lenders that RateCity compares on its website have cut their fixed rates, the most recent being <a target="_blank" href="/news">Westpac </a>and <a target="_blank" href="/news">The Greater Building Society</a>. 
On average the benchmark three-year fixed rate has fallen from about 7.28% to 6.7% 
RateCity’s fixed interest home loan rates over the past 12 months 
<div style="text-align: left;" align="center">
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td nowrap width="20%">
Date
</td>
<td nowrap width="30%">
Average 1-year fixed
</td>
<td nowrap width="24%">
Average 3-year fixed
</td>
</tr>
<tr>
<td nowrap width="20%">
October 2010
</td>
<td nowrap width="30%" style="text-align: center;">
6.97%
</td>
<td nowrap width="24%" style="text-align: center;">
7.40%
</td>
</tr>
<tr>
<td nowrap width="20%">
November 2010
</td>
<td nowrap width="30%">
7.03%
</td>
<td nowrap width="24%">
7.44%
</td>
</tr>
<tr>
<td nowrap width="20%">
December 2010
</td>
<td nowrap width="30%">
7.10%
</td>
<td nowrap width="24%">
7.43%
</td>
</tr>
<tr>
<td nowrap width="20%">
January 2011
</td>
<td nowrap width="30%">
7.10%
</td>
<td nowrap width="24%">
7.43%
</td>
</tr>
<tr>
<td nowrap width="20%">
February 2011
</td>
<td nowrap width="30%">
7.10%
</td>
<td nowrap width="24%">
7.45%
</td>
</tr>
<tr>
<td nowrap width="20%">
March 2011
</td>
<td nowrap width="30%">
7.10%
</td>
<td nowrap width="24%">
7.48%
</td>
</tr>
<tr>
<td nowrap width="20%">
April 2011
</td>
<td nowrap width="30%">
7.05%
</td>
<td nowrap width="24%">
7.38%
</td>
</tr>
<tr>
<td nowrap width="20%">
May 2011
</td>
<td nowrap width="30%">
7.09%
</td>
<td nowrap width="24%">
7.41%
</td>
</tr>
<tr>
<td nowrap width="20%">
June 2011
</td>
<td nowrap width="30%">
7.08%
</td>
<td nowrap width="24%">
7.42%
</td>
</tr>
<tr>
<td nowrap width="20%">
July 2011
</td>
<td nowrap width="30%">
7.09%
</td>
<td nowrap width="24%">
7.38%
</td>
</tr>
<tr>
<td nowrap width="20%">
August 2011
</td>
<td nowrap width="30%">
7.03%
</td>
<td nowrap width="24%">
7.28%
</td>
</tr>
<tr>
<td nowrap width="20%" style="text-align: center;">
September 2011
</td>
<td nowrap width="30%" style="text-align: center;">
6.69%
</td>
<td nowrap width="24%" style="text-align: center;">
6.70%
</td>
</tr>
</tbody></table>
</div>
The above rates were collected at the 1st of each month, except September 2011 figures, which are correct as at September 28. Source: RateCity.
 
Smith says the possibility of a rate cut by the RBA is now much stronger than it was six weeks ago.
Besides the advertised rate cuts, Smith also confirmed earlier reports that borrowers of good standing are able to negotiate discounts of more than 1% with some of the lenders.
“If someone like the CBA directly acquired a client, they could get their variable rate reduced from around 7.7% to something like 6.5%,” he says.
</body></html>

Cashed-up banks will continue to cut fixed-rate mortgages: RateCity

<html><body>
Some 28 of Australia’s 65 regions are now considered to have high mortgage delinquency, with non-mining unemployment hurting regional home owners.
Moody's Investors Service says the ability of Australian home owners to keep up with their mortgage payments has declined over the past year.
“Mortgage performance has shown a material deterioration," says Arthur Karabatsos, a Moody's vice-president.
Between March 2010 and June 2011, the national delinquency rate rose from 1.36% to 1.67%, given an especially poor performance in the regions.
"Of Australia's 65 regions, those performing very poorly, that is, with more than 2.5% delinquencies, increased to 11 from two, and those performing poorly increased to 17 from five," says Karabatsos.
Moody’s classified 11 regions as performing very poorly, with six from New South Wales, four from Queensland and one from Western Australia.
"NSW remains the worst-performing state overall, with six of its regions performing very poorly," Karabatsos says.
But the biggest declines in mortgage performance have been experienced in Queensland and WA, the two states that have been the biggest beneficiaries of Australia's ongoing mining boom, the report says.
“Previously all Queensland regions performed satisfactorily or better, but now four regions are performing very poorly.
“And before only one of WA's seven regions was performing poorly and now it is four performing poorly and one very poorly,” says Karabatsos.
"This apparent paradox is partly explained by the fact that non-mining jobs still account for most of the employment in both states, and such sectors lag the mining sector in growth.
“For example, the strong Australian dollar has weakened the tourism industry, which accounts for more than 5% of employment in Queensland," Karabatsos says.
"Overall, mining accounts for just 1.8% of employment in Australia, and then 2.4% in Queensland and 7.1% in WA.
“Now QLD's tourism-dependent Gold Coast region not only has Australia's third worst mortgage performance with 3.11% delinquencies, but also contributes the most delinquent loans outright, with 6.9% of such loans in Australia located in the region," adds Karabatsos.
"And, previously, while all of Victoria's regions were satisfactory or better, two now perform poorly.
“By comparison, South Australia is the best-performing state, with all of its regions performing satisfactorily," says Karabatsos.
<img src="/images/stories/moodys2.gif">
Source: Moody's
The report shows that the worst performing postcode is in WA – postcode 6168 encompassing suburbs such as Rockingham, Hillman, Garden Island and Peron some 30 kilometres south of Perth –  which has a delinquency level of 5.31%, more than three times the national average of 1.67%, as calculated by Moody's.
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jchancellor-FAypfDUnLy

Non-mining unemployment hurting regional mortgage repayments: Moody's

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Borrowers might consider holding off taking out fixed-rate mortgages as further cuts may be in the pipeline, according to Channel 9 finance expert Ross Greenwood.
Speaking during his regular Today Show segment, he said fixed-rate mortgages could get even cheaper.
According to Greenwood there is probably a window of opportunity between now and the end of the year to lock in at cheaper fixed rates and it may not be today.
He says banks have access to cheaper funding and are able to pass this on to borrowers.
Mortgage broker The Loan Market Group says enquiries for fixed-rate loans have increased to 30% of all enquiries from virtually “non-existent” levels at the start of the year.
Loan Market chief operating officer Dean Rushton tells Property Observer it is seeing “lenders acting quite aggressively with fixed rates”.
“It’s basically routine now to see a new weekly leader in fixed rate pricing. It will likely remain a competitive product for the next several months as the banks seem to be determined to battle it out in this space,” Rushton says.
“With the prospect of a rate rise still a few months away we’ll continue to see the major banks competing for fixed rate products.”
Yesterday <a target="_blank" title="Westpac cuts mortgage rates" href="/news">Westpac cut its one- and three-year fixed-rate mortgages</a>, a day after the<a target="_blank" title="Greater Building " href="/news"> Greater Building Society cut its fixed rates</a> under those of some of the major banks.
Westpac is offering a three-year fixed-rate mortgage rate of 6.44% while the Greater is offering a rate of 6.35%.
Currently the cheapest three-year fixed- and variable-rate mortgages as listed by mortgage comparison website RateCity.com.au are:
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" colspan="2" width="295">
Three-year fixed rate
</td>
<td valign="top" colspan="2" width="321">
Variable
</td>
</tr>
<tr>
<td valign="top" width="147">
AMP
</td>
<td valign="top" width="147">
6.29%
</td>
<td valign="top" width="158">
Illawarra Home Loans
</td>
<td valign="top" width="164">
6.68%
</td>
</tr>
<tr>
<td valign="top" width="147">
ME Bank
</td>
<td valign="top" width="147">
6.35%
</td>
<td valign="top" width="158">
Loans.com.au
</td>
<td valign="top" width="164">
6.69%
</td>
</tr>
<tr>
<td valign="top" width="147">
ECU Australia
</td>
<td valign="top" width="147">
6.35%
</td>
<td valign="top" width="158">
Newcastle Permanent
</td>
<td valign="top" width="164">
6.74%
</td>
</tr>
</tbody></table>
Source RateCity.com.au
Mortgage broker Mortgage Choice says there has been a significant increase in the percentage borrowers taking out fixed-rate mortgages, with the proportion rising from 3.67% in September 2010 to just over 14% in August.
Spokeswoman Kristy Sheppard says every interest rate reduction brought out by a major bank puts pressure on the other lenders to re-examine their rates.
“I hope rates continue falling to historic lows, for borrowers' sakes. We'll simply have to wait and see if this happens,” she says.
Fixed-rate loans as a % of our new loan approvals
<img src="/images/stories/mcsept28.gif">
Source: Mortgage Choice
According to mortgage comparison website RateCity.com.au, about 70% of lenders have cut their fixed rates recently.</body></html>

Fixed-rage mortgages could get even cheaper: Ross Greenwood

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Westpac is the latest lender to cut its fixed mortgage rates.
The bank has cut the three-year fixed rate on its Premier Advantage Package by 15 basis points to 6.44% per annum.
In addition, Westpac has also cut one and two-year fixed-rate loans by 20 basis points to 6.49% for customers taking out the Premier Advantage Package.
The new rates apply for loans of at least $150,000.
As part of its spring promotion, Westpac is also offering a 0.8% per annum off the variable rate on a new variable rate home loan of at least $500,000 for customers that qualify for the Premier Advantage Package.
Yesterday, the <a target="_blank" href="/news">Greater Building Society cut its one-year fixed-rate mortgage</a> to 5.94% and also reduced its three-year fixed home loan rate to 6.35% per annum.
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Westpac cuts fixed mortgage rates

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If the Commonwealth Bank thought no one would notice it raising interest rates on Melbourne Cup Day last year, a new survey has given it a harsh reality check.
Almost a year on borrowers continue to vent their anger, rating the bank the worst home loan provider out of over 200 providers, following a survey of 23,000 Australians by finance comparison and reviews site Mozo.
The decision to push up rates by 0.45% (almost double the official RBA increase of 0.25%) as the nation stopped to watch the famous rate was described at the time by federal Treasurer Wayne Swan as “cynical”.
Commonwealth Bank customers surveyed by Mozo gave the bank a dismal home loans rating of 5.9 out of 10, down from 6.7 in 2010.
The major banks topped the list of worst home loan provider with CBA followed Westpac (6.2/10) and NAB (6.4/10).
The CBA’s overall satisfaction rating fell to 6.8 below that of bitter rival NAB, which improved from 6.9 to 7.1, the best of the major banks.
The Mozo survey is likely to prickle the nose of incoming CBA chief executive Ian Narev, who takes over the reins from Ralph Norris on December 1.
Last year Norris lost $7 million in pay after the CBA dropped to the bottom of the benchmark Roy Morgan customer satisfaction ratings.  
The Greater Building Society, <a target="_blank" href="/news">which yesterday cut its fixed mortgage rates</a>, and ME Bank were voted best home loan provider and runner-up respectively, with the two providers trading places on last year’s inaugural standings.
Customers praised both institutions for choosing not to raise home loan rates above last November’s official cash rate increase, awarding home loan ratings of 9.4 and 8.8 out of 10 respectively.
ING Direct was voted Australia’s Best Bank for the second year running for its consistently competitive online savings, everyday banking and mortgage products. Australia’s favourite bank also picked up Best Bank Accounts and Most Trusted Bank awards.
Australia’s mutual societies increased their average overall satisfaction rating from 8.1 in 2010 to 8.2 in 2011 against a backdrop of declining satisfaction in banking providers overall. Customers rated mutual societies better than the banks on the key measures of service, trust, price and features, and equal to the Big 4 for convenience.
Rohan Gamble, managing director of mozo.com.au, says customer satisfaction is driven by actions not marketing.
“The NAB’s axing of penalty fees, ING Direct’s consistently competitive interest rates and the Greater’s commitment to people before profits have made them the big winners in customer satisfaction.”
 
Australia’s Best Banking Providers                        Australia’s Worst Banking Providers
1. Greater Building Society                  9.2                      1. GE Money                   4.3
2. Victoria Teachers Credit Union    9.1                      2. Citibank                       4.4
3. ING Direct                                              8.9                      3. Homeside                    4.8
4. Police Credit                                          8.7                     4. American Express      5.6
5. QANTAS Staff Credit Union            8.6                      5. Aussie                          6.2
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CBA customers still smarting over Melbourne Cup rate rise

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Loan-to-value ratios are continuing to increase but mortgage arrears aren’t becoming a problem yet, the Reserve Bank of Australia says in its latest Financial Stability Review report.
But mortgage experts say while loan-to-valuation ratios are continuing to increase and banks are becoming more lenient with regard to lending practices, arrears aren’t becoming a problem and consumers are well placed to handle debt.
The RBA report noted that although the share of new loans with loan-to-valuation ratios of above 90% has fallen “significantly” over the past few years, “it has edged up over the past year as competition in the mortgage market has intensified”.
While banks dropped their LVRs during the financial crisis, they are starting to creep up again. ANZ has LVRs at 90% for new borrowers, and 95% for existing borrowers, while customers at NAB, Commonwealth and Westpac are also able to access a 95% rate.
However, the RBA also found that while loans made before 2009 are causing the recent uptick in arrears, the current state of mortgages is sustainable.
“Despite the increase over the first half of 2011, the overall mortgage arrears rate in Australia is still low by international standards, and the bulk of housing loans in arrears are well collateralised,” the RBA says.
“Moreover … there are a number of reasons why mortgage arrears are unlikely to rise as much as they have in some other countries. Not least is the more favourable macroeconomic environment in Australia.”
Fitch structured finance associate director James Zanesi says it is true that higher LVRs are associated with higher arrears and defaults, but overall he agrees with the RBA.
“I would say the main driver in terms of likelihood of default is the LVR. It is logical to say that if you have an LVR of 70%, and an LVR of 90%, the 90% mortgage holder is more likely to default, which is proven by historical data.”
However, Zanesi says it is too difficult to make sweeping statements regarding LVRs, saying instead the mortgage market performs differently based on location and differences between metropolitan areas need to be taken into account.
“If one of a few lenders increase LVRs, they don’t all jump the same way. It’s also not a short-term impact, so you wouldn’t see results of raising LVRs for quite some time,” Zanesi says.
“Arrears rose in the first quarter, but there are not as dramatic as in other jurisdictions such as the United States. Relatively, our arrears and defaults rate is fine.”
This article originally appeared on <a target="_blank" title="SmartCompany" href="https://www.smartcompany.com.au/property/20110926-property-loan-to-value-ratios-rising-but-economy-well-placed-to-handle-debt-rba-report-finds">SmartCompany</a>.
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cknowlton-QnEa6ntUYP

Property loan-to-valuation ratio rising but economy well place to handle debt: RBA

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Household savings rates are at levels last seen in the mid-1980s as more borrowers look to pay off their mortgage debt sooner, the RBA says. 
After trending up since the mid-2000s, the household saving rate rose further over the past year, reaching 10.5% of disposable income in the June 2011 quarter, according to the RBA’s latest Financial Stability Review.
<img src="/images/stories/savings.gif"> 
Over this time, many borrowers have continued to make “substantial excess principal repayments, even as higher interest rates have raised required interest – and thus total – repayments”.
<img src="/images/stories/housingequity.gif">
“The average excess repayment is currently equivalent to around three-quarters of the scheduled total (principal plus interest) repayment. Consistent with this tendency to pay debt ahead of schedule, surveys have shown that a high share of households consider repaying debt to be the wisest place for savings,” the RBA says. 
“Households that make excess repayments on their home loans generally build up buffers that they can draw down in the future if required. This should be regarded as a positive development for the resilience of the sector.”
<img src="/images/stories/mortgagerepayments.gif">
The RBA noted a substantial slowdown in the pace of household credit growth declining 4.5% in annualised terms over the six months to July.
Annualised growth in housing credit eased from 6.7% over the six months to January 2011 to 5.2% over the six months to July 2011. 
Growth rates of both owner-occupier and investor housing debt have moderated so far this year. The flow of new borrowing has also moderated, with the value of monthly housing loan approvals.
 
The RBA says recent surveys suggest the uptick in mortgage refinancing since early 2011 reflects households switching to cheaper loans – amid increased competition in the mortgage market – and consolidating debt, rather than taking out larger loans. As debt accumulation has slowed in recent years, the rate of housing equity injection has increased. 
Besides making excess mortgage repayments, net repayments on credit cards have picked up in recent months.
<img src="/images/stories/debtbytype.gif">
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