<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

NAB bring forward first RBA cut to February 2025

<html><body>
The Reserve Bank of Australia (RBA) is set to return to a holding pattern, leaving the cash rate at 1.00%, according to the latest survey data from Finder.com.au.
In the latest Finder RBA Cash Rate Survey™ 44 of the 46 experts and economists (96%) predict the board will hold at the August meeting to let the June and July cuts trickle through the economy.
Almost all experts (92%, 38) expect the next cash rate move will be a cut. Nearly half (49%, 21) are predicting a final low of 0.50%, while a third (35%, 15) tip believe it will bottom out at 0.75%.
But the holding pattern may not last long; the most popular months cited for another cash rate cut are November (35%, 17) followed by October (23%, 11).
Graham Cooke, insights manager at Finder, said with the effects of recent cuts still unrealised, the board is hesitant to cut in three consecutive months.
“The jury’s out on the impact of these most recent cuts – it’s simply too soon to tell.
“Economists feel slightly more confident that recent cuts will have a positive effect on the economy once given time to roll out. While positivity is generally still low, housing affordability remains the most positive economic element.” 
<img src="https://www.urban.com.au/images/2019/8/5/Finder%20-%20August%206%20-%201.JPG" alt="">
“The falling cash rate combined with falling house prices creates a catch-22 for Aussies looking to break into the property market. Buyers will be wanting to take advantage of historically low rates, but also wanting to purchase at the bottom of the market.”
Despite US rate cut, economists are focused on China When asked to indicate their two main economic concerns for Australia right now, decisions by the Federal Reserve in the US ranked towards the bottom of the list, being cited by just three economists (5%).
(Note: some responses were submitted just before the first US cash rate cut since 2008, which saw its lending rate fall to 2.25%.)
Instead, (27%, cited by 17 respondents) experts tipped international relations like the fate of US-China Trade Deal and Australian-Chinese trade in general (14%, 9) as massive concerns for the economy, above issues like unemployment, inflation and housing prices.
“What’s happening between China, Australia and the US right now could have far more potential impact on Australia than the Fed Reserve,” Cooke said.
“If the US and China can finally agree on a trade deal, this may result in US imports replacing Australian ones in some Chinese sectors.
“With Australian beef and dairy being particularly strong trade commodities in this space right now, such a deal could be bad for Aussie farmers, and ultimately our economy.”
Peter Boehm of KVB Kunlun said domestic concerns are just part of the equation.
“The impact of international trade negotiations will also play an important role in determining the need or otherwise for another rate adjustment.”
<img src="https://www.urban.com.au/images/2019/8/5/Finder%20-%20August%206%20-%202.JPG" alt="">
Results from Finder’s Economic Sentiment Tracker™, which gauges five key indicators – housing affordability, employment, wage growth, cost of living and household debt – show nearly all tipped more positive this month following the second rate cut.
Introduced in March 2018, this month’s tracker set an all-time low for economic sentiment in cost of living (3%).
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j.ballantyne1990-6AQqhLzZaK

Cash rate will hold meanwhile concerns over China-US relations grow

<html><body>
EXPERT OBSERVER
The RBA meets on August 6 and releases the Statement on Monetary Policy on August 9. We think it is quite unlikely that the Board will decide to do a third consecutive cut at this meeting but remain comfortable with our view that the RBA will deliver additional 25bps cuts in October and February.
The Reserve Bank Board meets on August 6 to consider whether to extend the sequence of rate cuts in June and July for another month.
We think it is quite unlikely that the Board will decide to do a third consecutive cut at this meeting.
Following the cut in July, the Governor noted, “The Board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time".
That statement compared with the June statement, “The Board will continue to monitor developments in the labour market closely and adjust monetary policy to support sustainable growth in the economy and the achievement of the inflation target over time".
The inclusion of the term “if needed” in the July statement indicates that the level of urgency for the next cut is lower in July than it was in June – implying that some time would be required to assess whether another cut was needed.
I wrote at the time of the release of the July Board minutes: “my experience is that when a central bank decides to pause, it often refers back to previous policy decisions. In the final paragraph of the July minutes, the Board notes “this decision, together with the reduction in the cash rate decided at the previous meeting, would assist in reducing spare capacity in the economy”.
Finally it is worth recalling the final paragraph of the speech which the Governor delivered after the Darwin Board meeting in July when he noted: “So we will be closely monitoring how things evolve over coming months.” The use of the plural (months) seems to be confirmation that there would be no urgency to move as soon as August.
On July 25th, we revised our forecast of the timing of the next rate cut from November to October. In addition we extended the easing cycle to include another, and final, cut, in February next year. We remain comfortable with that view.
The Governor’s Statement next week will be of interest particularly around whether he is planning to move as soon as September. Here we will certainly be interested in whether he persists with the “if needed” qualification. We favour that term still being used implying that, at least at the time of the meeting, the Board expects to hold fire in September.
Other themes will be consistent with the July statement are: strong employment growth but spare capacity in the labour market; housing conditions soft, although tentative signs of stabilisation in Sydney and Melbourne (CoreLogic reported house prices in Sydney and Melbourne lifted by 0.2% in July); inflation pressures subdued, although the central scenario remaining for trimmed mean inflation to be 2% in 2020; and the central scenario remaining for growth to be around trend.
These themes will give us an early signal of the revised forecasts for growth, inflation and unemployment which will be released with the August Statement on Monetary Policy on August 9. These forecasts are critical for gauging the Bank’s approach to policy and he will be testifying to Parliament that same morning.
Recall that when the last set of forecasts was released in May, the RBA forecast GDP growth at 2.75% in both 2019 and 2020. That is a benign outlook given that “trend” is assessed as 2.75%. However it is going to be difficult to credibly maintain the 2019 growth forecast at 2.75%.
Since the May Forecasts were released, GDP growth in the March quarter printed a low 0.4% and the partials for the June quarter are pointing to around 0.5%. A 0.9% read for the first half of the year requires 0.9% quarterly increases in each of the last two quarters.
Now we acknowledge that the second half of 2019 will be stronger than the first half with the benefits of the rate cuts, tax cuts, stabilising of the housing markets in Sydney and Melbourne, and lower AUD; but we certainly do not see growth lifting to an annualised pace outside 2.5-3.0%. It is most likely that the RBA will choose the 3% pace and lower the forecast for GDP growth in 2019 to 2.5% from 2.75%. That would provide a credible base for retaining the 2.75% forecast in 2020. We see the pace at nearer 2.5% in 2019 H2, ultimately pushing the RBA's forecast for 2019 back to 2.25% and 2020 to around 2.5%.
The June quarter Inflation Report provided the RBA with some welcome news. The trimmed mean inflation rate for the quarter printed 0.42%, above the Westpac forecast of 0.3%. This followed a 0.3% in the March quarter. We detected a stronger than expected pass through in clothing, footwear, household goods and cars from the low AUD.
With 0.3% in Q1 followed by 0.42% in Q2, the RBA can, with a large stretch, retain its forecast for the trimmed mean of 1.75% for 2019, making a drift up to 2% in 2020 a reasonable outcome. We expect the trimmed mean in the September quarter to print 0.3% for a rounded 1.5% for 2019. The RBA is likely to confront that reality for the November Statement, forcing it to delay the return of the trimmed mean inflation rate to 2% in 2021. For now, it will most likely continue to declare that trimmed mean inflation will be back within the 2-3% band in 2020.
So far, so good, but the unemployment rate forecast is likely to be a major problem for the RBA. Recall that in May, it forecast the unemployment rate to hold at 5.0% through 2019 and 2020. Unfortunately the rate for June has lifted to 5.24% against a May SOMP forecast of 5.0%. The problem is compounded by the 'rule-of-thumb' amongst economists that above trend growth is required to lower the unemployment rate. At best, the RBA will be forecasting trend growth in 2020, challenging any forecast that the unemployment rate will fall from the current 5.25%.
It will be this tension with the unemployment rate, which we expect to lift to 5.4% by year’s end that will trigger that 0.25% rate cut in October.
This problem will be further complicated for the RBA by market pricing. The forecasts in May already incorporated the two rate cuts in June and July (although markets were envisaging the cuts to come later in the year). The forecasts in August will incorporate a further cut in October (market pricing) and a near full second cut by mid-2020.
If, as we expect, those forecasts will be barely acceptable for growth and inflation and well below the RBA’s “desired” 4.5% for the unemployment rate, then the very least that the RBA can do is to deliver a 25bp October cut and plan to repeat the dose in 2020 H1.
BILL EVANS is the Chief Economist at Westpac
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RBA to hold in August but further cuts forecast in 2019 and early 2020: Bill Evans

<html><body>
Interest rates for investors are finally heading south with the average investor principal and interest rate dropping 35 basis points, according to financial comparison site mozo.com.au.
Falling from 4.76% to 4.41% following consecutive official rate cuts and changes to the APRA cap.
On average an investor with a $300,000 loan taken over 30 years will be $63 a month better off following the cuts.
Mozo Property Expert Steve Jovcevski said, “the RBA’s decision to cut 50 basis points off the official cash rate this year and the removal of the APRA cap on interest only loans has warmed up the paddles of life for property investors."
“It’s encouraging that as well as rate cuts for investors paying principal and interest, we’re seeing a downward movement on interest only loans."
“This time two years ago property investors were staring down average interest only rates of 5.12% and lenders were handcuffed around the volume of loans they could issue by the APRA cap," he added.
<img src="https://www.urban.com.au/images/2019/7/29/Mozo%20Interest%20Rates.JPG" alt="">
Following the RBA’s action on rates this year, Mozo found Westpac made the most significant cuts of the Big 4 banks slicing 35 basis points off its investor interest only rate in June, and 30 basis points in July.
CBA wasn’t far behind with two full 25 basis point cuts.
Jovcevski says, “while this rate relief is welcome news for investors, compared to owner occupiers, they are still in the hurt locker. At a time when rental returns are under pressure, it’s still difficult to lay a solid foundation for investing in property."
“Considering the current average investor interest only rate of 4.52% is still higher than it was before APRA introduced its cap in 2017, the investor loan market still has a lot of room to move in the coming months," Jovcevski concluded.
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Interest rates for investors are finally heading south: Mozo.com.au

<html><body>
NAB made changes to its home loan serviceability assessment policy, dropping its interest-rate floor to 5.5 per cent and increasing its interest-rate buffer to 2.5 per cent.
The changes are effective for all new home loan applications from 5 August.
The changes came after APRA revised its home-lending guidance, abolishing the 7 per cent interest-rate floor for mortgage assessments and raising the buffer rate to 2.5 per cent.
It is the last of the Big Four to tweak its serviceability policy with the other three announcing revisions and cuts earlier in July.
NAB has matched ANZ’s rate floor of 5.5 per cent.
They beat out their Big Four peers CBA and Westpac, who dropped their floor rates to 5.75 per cent.
<a href="/news/westpac-immediately-relaxes-serviceability-conditions-on-low-risk-owner-occupier-home-loans">Westpac was the first of the Big four</a> to make the cut.
All four increased the buffer rate to 2.5 per cent.
<a href="/expert-insights/finance/macquarie-bank-cuts-interest-rate-floor-2-per-cent-cba-unmoved">Macquarie</a> currently has the lowest interest rate floor at 5.3 per cent.
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NAB last of the Big Four to cut interest rate floor

<html><body>
Macquarie Bank has made changes to its home loan serviceability assessment policy, reducing its interest rate floor from 7.25% to 5.3%.
Their new assessment rate floor is up to 45 basis points lower than the rest of the big four.
It has increased the assessment buffer rate from 2.25 per cent to 2.5 per cent, which is in line with changes by Westpac and ANZ.
Suncorp Bank has also revealed to stated that it will be cutting its interest rate floor from 7.25% to 5.5%
Westpac has also reduced their savings rates by up to 0.20 per cent.
<img src="https://www.urban.com.au/images/2019/7/19/Macquaire%202.png" alt="">
(Source: RateCity.com.au)
RateCity.com.au research director Sally Tindall said, "customers with an eSaver will be bitterly disappointed to find out they’ll be earning just 0.15 per cent interest on their savings on an ongoing basis. "
“All eyes are now on CBA to see what cuts they’ll make to their savings accounts. As the nation’s biggest bank, savings account holders are waiting with bated breath"
Thus far CBA is the only big bank that hasn’t cut savings rates following the July RBA cash rate cut.
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Macquarie Bank cuts interest rate floor 2 per cent, CBA unmoved

<html><body>
GUEST OBSERVATION
“Churning” out of and back in to home ownership is becoming common. We haven’t caught up.
More than in many countries, in Australia home ownership has traditionally been seen as a journey, with most of us aspiring to <a href="https://www.tandfonline.com/doi/full/10.1080/14616718.2014.984827" target="_blank">own a home</a> and <a href="/news">pay down a mortgage</a> by the time we retire.
Because it’s been seen as a one-way street, we have tended to worry most about the first big transition: moving from renting to getting a mortgage, assuming that afterwards things will be okay. But things are becoming more complicated.
The charts below are built from microdata from the Bureau of Statistics <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6541.0.30.001Main+Features12013-14" target="_blank">survey of income and housing</a>. Each shows the changing housing profiles of Australians in a particular age group between 1990 and 2015.
The bars show – from left to right – the share of Australians who are renting, have large mortgage debt, moderate mortgage debt, low mortgage debt; and have become outright owners, both in 1990 and 2015.
Then and now. Home tenure by type, per cent
25 - 34 year olds:
<img src="https://images.theconversation.com/files/283975/original/file-20190714-173360-7fwyjs.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
35 - 54 year olds:
<img src="https://images.theconversation.com/files/283974/original/file-20190714-173360-rfaur1.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
55 - 64 year olds:
<img src="https://images.theconversation.com/files/283976/original/file-20190714-173355-12ynhbo.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
High debt = mortgage debt-to-income ratio above 200%, middle debt = 100-200%, low debt = below 100%. <a class="source" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6553.0" target="_blank">Author's calculations, ABS 6553.0 microdata</a>
Less ownership, more churning
In each age group there is more renting and less ownership than there used to be.
And among owners, there is much less outright ownership and much more high debt than there used to be, exposing more of them to the risk of losing their homes.
Indeed, data from the <a href="https://melbourneinstitute.unimelb.edu.au/hilda" target="_blank">Household, Income and Labour Dynamics</a> survey shows that in the first decade of this century alone, nearly 2 million people left home ownership and returned to renting.
These “leavers” represent one fifth of all home owners in the decade.
But this wasn’t a one-way street either. Of those who lost their home, nearly two-thirds regained home ownership later in the decade. Astonishingly, 7% of these “churners” moved in and out of home ownership <a href="/news">more than once</a>.
Who’s leaving, who’s churning?
The edges of home ownership are becoming permeable, in an especially Australian way. Leavers and churners are more common in Australia <a href="/news">than in Britain</a>, a country which on the surface has a similar high home ownership rate and a well-developed mortgage market.
Leavers appear to be characterised by <a href="https://www.tandfonline.com/doi/abs/10.1080/14616718.2015.1115225" target="_blank">mortgage stress, divorce or relationship breakdown and poor health</a>. They have better chances to regaining ownership if they were able to extract relatively large amounts of <a href="/news">home equity</a> before they leave.
Those who are able to find <a href="/news">rent-free housing</a>, say from parents, find it easier to save for a deposit to get them back into home ownership.
Some are able to directly access the “<a href="https://www.tandfonline.com/doi/abs/10.1080/19491247.2017.1278580?journalCode=reuj20" target="_blank">bank of mum and dad</a>”. It is a leg up only available to those with <a href="https://theconversation.com/not-everyone-wins-from-the-bank-of-mum-and-dad-73842" target="_blank">wealthy and willing parents</a>, accentuating the socio-economic divide between owners and renters.
What will have to change?
There are at least three important implications.
First, debt-free home ownership in old age can no longer be regarded as the norm; instead, <a href="https://theconversation.com/more-people-are-retiring-with-high-mortgage-debts-the-implications-are-huge-115134" target="_blank">mortgage stress in old age</a> will become more common as churners take on more debt later in order to regain home ownership.
This raises complex questions around how ageing mortgage holders will manage retirement strategies, superannuation payouts and spending to cope with <a href="https://www.ahuri.edu.au/research/research-in-progress/ahuri-research-projects/mortgage-stress-and-precarious-homeownership-implications-for-older-australians" target="_blank">mortgages that aren’t extinguished</a>.
Second, <a href="https://www.ceda.com.au/CEDA/media/General/Publication/PDFs/HousingAustraliaFinal_Flipsnack.pdf" target="_blank">lifelong renting</a> will become more common. This means governments will need to prepare for an upsurge in spending on <a href="/news">housing assistance</a> and pressure for legislation to provide greater <a href="https://www.ceda.com.au/CEDA/media/General/Publication/PDFs/HousingAustraliaFinal_Flipsnack.pdf" target="_blank">security of tenure</a> for private renters.
Evidence suggests mortgage indebtedness <a href="https://journals.sagepub.com/doi/abs/10.1177/0308518X16688471" target="_blank">depresses wellbeing</a>. On the other hand, people who have abandoned their mortgage experience a notable rebound in wellbeing, especially if they get <a href="https://journals.sagepub.com/doi/abs/10.1177/0308518X16688471" target="_blank">secure rental tenure</a>.
Finally, governments cannot just focus on programs that help first home buyers, such as the <a href="https://www.liberal.org.au/latest-news/2019/05/12/helping-australians-buy-their-first-home" target="_blank">First Home Loan Deposit Scheme</a> announced during the election. They will need to design programs that help prevent people from dropping out and help former owners get back.
The growing twilight zone between being an owner and being being a renter is largely unrecognised in the political imagination.
Rachel Ong ViforJ, Professor of Economics, School of Economics, Finance and Property, Curtin University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-edges-of-home-ownership-are-becoming-porous-its-no-longer-a-one-way-street-119995" target="_blank">original article</a>.
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Home ownership churn becoming increasingly common: Rachel Ong ViforJ

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Over the past week, 14 lenders decreased owner occupier variable rate loans, while 12 providers decreased owner occupier fixed rate loans, according to Canstar.
Greater Bank have introduced new low rates for owner occupier fixed rate loans: 2.79% for a one-year fixed rate, 3.39% for four and five-year fixed rates. 
They also found when looking to investment rates that 12 providers decreased variable investment rates and 10 lenders decreased investment fixed rates.
ANZ and NAB made variable rate decreases of 0.25% and 0.19% respectively; NAB also reduced its fixed rates by between 0.30% and 0.80% for both owner occupier and investment loans.
The tables below display these latest changes:
<img src="https://www.urban.com.au/images/2019/7/15/Canstar%201.png" alt="">
<img src="https://www.urban.com.au/images/2019/7/15/Canstar%202.png" alt="">
<img src="https://www.urban.com.au/images/2019/7/15/Canstar%203.png" alt="">
<img src="https://www.urban.com.au/images/2019/7/15/Canstar%204.png" alt="">
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The latest interest rate changes following the RBA cuts: Canstar

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ANZ and Westpac have changed their respective home-loan serviceability floor rates while increasing their buffer rates to 2.5%. 
Westpac will assess home loan borrowers against their capacity to repay the loan at 5.75 per cent, a reduction from 7.25 per cent, in a move that should make it easier for people to secure loans.
The bank moved just days after the ANZ Banking Group became the first lender to pass on the benefit of the loosened lending limits.
The Australian Prudential Regulation Authority (APRA) announced earlier this month that it would relax rules to allow banks to assess a borrower's ability to repay their mortgage if interest rates rose to 7 per cent.
Under the change in rules, banks would now only have to apply a 2.5 per cent "sensitivity margin" on current interest rates when assessing home loan eligibility.
ANZ yesterday told mortgage brokers it would lower its mortgage assessment floor to 5.5 per cent as of yesterday.
RateCity estimates that if a bank used an assessment rate of 6 per cent instead of the current 7.25 per cent, a family of four with an average household income of $109,688 would see their borrowing capacity rise by $77,000.
Commonwealth Bank and National Australia Bank are reviewing their serviceability requirements. 
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Which banks have made it easier to get home loans after APRA decision?

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EXPERT OBSERVATIONS
Geordan Murray, a Senior Economist at HIA, said the home lending figures released by the ABS today show the number of loans to households building new homes grew modestly in May.
Overall housing finance commitments for construction and purchase of new homes grew in the month of May by a modest 2.3 per cent but remain 11.7 per cent lower than the same month last year.
The credit squeeze that emerged from mid-2018 has seen lending for the construction of new homes contract sharply.
This month’s data suggests that these conditions have started to ease.
The improvement in lending in May is stronger than we had anticipated and reflects an increased level of borrowing from first home buyers.
This is the strongest month of borrowing by first home buyers this year.
There has been an improvement in housing market sentiment in the weeks following the federal election.
When combined with the RBA’s rate cuts and easing of APRA restrictions, there is cause to be optimistic that lending activity could improve as the year progresses.
However REIA President Adrian Kelly believes the May 2019 Lending to Households and Business figures released today by the Australian Bureau of Statistics show the number of loans for housing, excluding refinancing, continues to decline, but at a slower rate.
Mr Kelly said, overall the figures for May 2019 show, in trend terms that the number of owner-occupied finance commitments, excluding refinancing, decreased by 0.5 per cent –the twenty first consecutive month of decreases and the lowest since August 2012.
The value of investment housing commitments, excluding refinancing, decreased by 1.5 per cent in May. This is down 27.8 per cent from a year ago and is at its lowest level since March 2009.
The number of loans to first home buyers increased by 0.8 per cent and is the highest since November 2018 whilst the proportion of first home buyers, as part of the total owner-occupied housing finance commitments increased in May to 18.8 per cent from 18.2 per cent in April.
Whilst the total number of finance commitments for May show a continuing, but modest, decline it needs to be remembered that the Federal election was held in the middle of the month with considerable uncertainty regarding the outcome and concern about changes to property taxation and its impact should there be a change in Government. 
With the post election boost in confidence in the real estate market as evidenced by higher levels of enquiry, two cuts in interest rates and changes in APRA’s requirements May will most likely mark the bottom of the lending cycle.
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Conflicting opinions on the strength of housing lending strength: HIA & REIA

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Another industry body has lent its voice to the growing calls for tax reform around stamp duty. 
HIA’s Stamp Duty Watch report is a regular review of policies and the latest developments in the states and territories around Australia.
Replacing stamp duty with a more predictable and equitable tax would provide state governments with a more reliable source of revenue, explained HIA Chief Economist, Tim Reardon.
“State governments have become increasingly dependent on stamp duty revenues,” said Reardon.
“Stamp duty is an unreliable source of revenue and the increased dependence makes states heavily susceptible to housing market downturns.
“In NSW the downturn in the property market is forecast to cost $10.6 billion in lost revenue over the forward estimates.
“In Victoria where the decline in house prices has been more modest, revenue from stamp duty has been revised down by $5.2 billion.”
The sharp drop in revenues highlights the vulnerability of state budgets, Reardon said.
“In 2018/19 stamp duty revenues made up over one-fifth of all taxation revenue raised in New South Wales, Victoria, Queensland and Tasmania,” he said.
“Victoria has the highest dependency on stamp duty revenues closely followed by NSW.
“The ACT, which is seven years into an ambitious 20-year tax reform program to replace stamp duty, has the lowest dependence on stamp duty.
“It makes up only 13% of total taxation revenue.
“Alternative broad-based tax measures could deliver a more consistent and reliable revenue stream.”
<a href="https://www.propertyobserver.com.au/images/2019/7/4/nsw%20budget.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/nsw%20budget.jpg" alt="">
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