<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Joel Robinson

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

[smartcode_project:default project_id=136442 project_image_fid=374084]

Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

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?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Shopping centre landlord Federation Centres, <a href="https://www.propertyobserver.com.au/retail/centro-seeks-clean-break-with-the-past-with-name-change-to-federation-centres/2012120958372" target="_blank">previously called Centro Retail Australia</a>, has purchased the Centro Gympie shopping centre in Queensland for $64 million.
The mall was previously held by the Centro MCS 9 property investment syndicate. 
It is now wholly owned by Retail Direct Property, the direct property division of Federation Centres with its purchase part of ongoing plans to simplify the complex syndicate business it operated previously as the debt-laden Centro property group. 
Centro Gympie is located at the corner of Bruce Highway and Excelsior Road in Gympie.
It has a gross lettable area of 14,054 square metres and offers 752 car spaces. Big W and Woolworths are anchor tenants on the property. 
Gympie is a regional town in the Wide Bay-Burnett region of Queensland, Australia. It is about 160 kilometres north of Brisbane, and has a population of 18,602 according to the 2011 Census. 
Federation Centres reported an <a target="_blank" href="https://www.propertyobserver.com.au/retail/federation-centres-emerges-from-centro-with-stronger-balance-sheet-and-back-in-the-black/2013021959432">interim net profit $115.91 million for the six months to December 31</a> 2012 – its first complete first-half results under its new brand name. 
In the prior corresponding period, then known as Centro Retail Australia, it reported a loss of $100 million for the six months to December 2011. 
Federation Centres plans to buy other syndicated malls, spending $650 million on such acquisitions thus far. 
Other properties under the Centro MCS 9 syndicate which have been purchased by Federation Centres include Centro Dianella in Western Australia, which it bought for $54 million. 
Federation Centres also acquired full-ownership of the $570 million Bankstown shopping centre in NSW. 
Last month Goldman Sachs upgraded its recommendation on Federation Centres from ‘neutral’ to ‘buy’ with factors behind this upgrade including the ongoing simplification of its syndicates business, asset acquisitions, non-core asset disposals and the rollout of its $1.1bn development pipeline.
Federation Centres plans to develop 16 shopping centres over the next five years.
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Federation Centres buys Centro Gympie for $64 million

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A property in artist Margaret Olley’s estate has been listed for sale in Newcastle.
Located on <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.walkom.com.au/buying/search/detail.aspx?id=WLS72501499&amp;wlid=01326ba9-f553-4719-aba3-17d1f1159885" target="_blank">Church Street</a>, the three-storey terrace is one of eight properties Olley owned in The Hill precinct in the 1960s.
It was the only one she held onto until her death in July 2011 aged 88.
Set on 120 square metres of land, the property has been divided into two self-contained flats.
The street level unit comprises of four bedrooms, one bathroom and a north facing enclosed balcony with harbour views and a courtyard.
The self-contained basement flat includes one-bedroom, one-bathroom and a private courtyard.
Estate agent Sonia Walkom of Walkom Real Estate says the property can easily be restored to one residence.
In terms of any traces of the renowned artist, Walkom says there aren't any.
"Margaret hasn't lived there since the 60s or 70s and has held the property as an investment," says Walkom.
Walkom says Olley once used the basement as her studio.
The property is due to go under the hammer on May 25 with $600,000 hopes and has a rental income of around $600 per week.
Olley’s Paddington home where she spent most of her time will be gutted and transported to create the $4.5 million Margaret Olley Arts Centre in <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="/news" target="_blank">Murwillumbah</a>.
The regional NSW centre is designed by architect Bud Brannigan and will include exhibition space, an education workshop facility, library, collection storage, multi-media areas and a standalone studio for artists.
It was also include recreations of Olley’s home and studio, including the Hat Factory and the Yellow room.
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Artist Margaret Olley's Newcastle terrace to go under the hammer

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More than 1.35 million premises have been added as next in line to receive high-speed fibre-optic broadband, NBN Co., the company put in charge of building the National Broadband Network, has announced.
The plan adds almost 190 new towns and groups of suburbs, as well as more homes and businesses in areas covered by the previous plan.
This brings to 4.85 million the number of premises that will have construction commenced or where services can be ordered by June 2016.
Blacktown has become the first suburb of Sydney to switch on to the National Broadband Network (NBN).
The NBN now "passes" 1,300 homes and businesses in Blacktown with a further 9,300 premises in the area to come online over the coming months, including premises in Lalor Park.
In April, the NSW Central Coast connected to the NBN with the service available to more than 2,300 homes and businesses in central Gosford.
NBN Co. CEO Mike Quigley said: “We’re getting on with the job of rolling out the NBN in every state and territory. Our plan is to deliver better broadband to every Australian over the remaining eight years of this 10-year build.”
Of the 188 Australian-wide suburbs added to the NBN construction timetable; 66 suburbs were in NSW including Sydney’s Bondi and 46 suburbs in Queensland which included Airlie Beach and the Sunshine Coast.
In South Australia there were 20 suburbs including rural towns Ceduna, Port Lincoln and Salisbury, 15 suburbs were listed in Western Australia including Esperance, Margaret River, Port Hedland and Yunderup and 41 suburbs in Victoria listed Angelsea, Glen Iris and North Melbourne.
The nationwide rollout of the NBN is due to be completed by 2021.
The latest locations next in line to receive the NBN are:
Victoria
 
<table style="width: 320px;" border="0" cellspacing="0" cellpadding="0" frame="box">
<colgroup>
<col span="5" width="64">
<col>
</colgroup>
<tbody>
<tr height="21">
<td height="21" width="64">Anglesea</td>
<td width="64">Daylesford</td>
<td width="64">Kooyong</td>
<td width="64">North Melbourne</td>
<td width="64">Shoreham</td>
</tr>
<tr height="21">
<td height="21">Ballan</td>
<td>Dimboola</td>
<td>Kyneton</td>
<td>Numurkah</td>
<td>Sunbury</td>
</tr>
<tr height="21">
<td height="21">Beaufort</td>
<td>Elmore</td>
<td>Lang Lang</td>
<td>Oakleigh</td>
<td>Tallangatta</td>
</tr>
<tr height="21">
<td height="21">Beechworth</td>
<td>Garfield</td>
<td>Maldon</td>
<td>Point Cook</td>
<td>Thomastown</td>
</tr>
<tr height="21">
<td height="21">Castlemaine</td>
<td>Glen Iris</td>
<td>Mirboo</td>
<td>Portarlington</td>
<td>Trentham</td>
</tr>
<tr height="21">
<td height="21">Chiltern</td>
<td>Heathcote</td>
<td>North Moreland</td>
<td>Romsey</td>
<td>Warburton</td>
</tr>
<tr height="21">
<td height="21">Clunes</td>
<td>Heidelberg</td>
<td>Nathalia</td>
<td>Rushworth</td>
<td>Winchelsea</td>
</tr>
<tr height="21">
<td height="21">Coburg</td>
<td>Heyfield</td>
<td>Newport</td>
<td>Rye</td>
<td>Woori Yallock</td>
</tr>
<tr height="21">
<td height="21" colspan="2">Craigieburn</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
New South Wales
<table style="width: 320px;" border="0" cellspacing="0" cellpadding="0" frame="box">
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<col span="5" width="64">
<col>
</colgroup>
<tbody>
<tr height="20">
<td height="20" width="64">Albion Park</td>
<td width="64">Bulahdelah</td>
<td width="64">Finley</td>
<td width="64">Mona Vale</td>
<td width="64">South West Rocks</td>
</tr>
<tr height="20">
<td height="20">Bankstown</td>
<td>Canowindra</td>
<td>Frenchs Forest</td>
<td>Moruya</td>
<td>Sydney Springwood</td>
</tr>
<tr height="20">
<td height="20">Barham-Koondrook</td>
<td>Cessnock-Bellbird</td>
<td>Gilgandra</td>
<td>Moss Vale</td>
<td>Tocumwal</td>
</tr>
<tr height="20">
<td height="20">Batemans Bay</td>
<td>Clarence Town</td>
<td>Gunnedah</td>
<td>Murrurundi</td>
<td>Tumbarumba</td>
</tr>
<tr height="20">
<td height="20">Batlow</td>
<td>Como</td>
<td>Hornsby</td>
<td>Murwillumbah</td>
<td>Tumut</td>
</tr>
<tr height="20">
<td height="20">Bawley Point</td>
<td>Cooma</td>
<td>Howlong</td>
<td>Narooma</td>
<td>Tuross Heads</td>
</tr>
<tr height="20">
<td height="20">Bellingen</td>
<td>Coraki</td>
<td>Jindabyne</td>
<td>North Parramatta</td>
<td>Ulladulla</td>
</tr>
<tr height="20">
<td height="20">Belmont</td>
<td>Culcairn</td>
<td>Kellyville</td>
<td>Petersham</td>
<td>Uralla</td>
</tr>
<tr height="20">
<td height="20">Bermagui</td>
<td>Deniliquin</td>
<td>Kempsey</td>
<td>Quirindi</td>
<td>Urunga</td>
</tr>
<tr height="20">
<td height="20">Berowra</td>
<td>Dorrigo</td>
<td>Kooringal</td>
<td>Ramsgate</td>
<td>Walcha</td>
</tr>
<tr height="20">
<td height="20">Berridale</td>
<td>Dungog</td>
<td>Macksville</td>
<td>Raymond Terrace</td>
<td>Williamtown</td>
</tr>
<tr height="20">
<td height="20">Bombala</td>
<td>Edensor Park</td>
<td>Maclean</td>
<td>Shoalhaven Heads</td>
<td>Woodburn</td>
</tr>
<tr height="20">
<td height="20">Bondi</td>
<td>Evans Head</td>
<td>Manilla</td>
<td>Singleton</td>
<td>Yamba</td>
</tr>
<tr height="20">
<td height="20" colspan="2">Branxton-Greta</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
Queensland
<table style="width: 320px;" border="0" cellspacing="0" cellpadding="0" frame="box">
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<col span="5" width="64">
<col>
</colgroup>
<tbody>
<tr height="20">
<td height="20" width="64">Agnes Water</td>
<td width="64">Burrum Heads</td>
<td width="64">Highfields</td>
<td width="64">Mossman</td>
<td width="64">Sunshine Coast Noosa</td>
</tr>
<tr height="20">
<td height="20">Airlie Beach</td>
<td>Cardwell</td>
<td>Howard</td>
<td>Murgon</td>
<td>Tin Can Bay</td>
</tr>
<tr height="20">
<td height="20">Albany Creek</td>
<td>Childers</td>
<td>Innisfail</td>
<td>Oakey</td>
<td>Toorbul</td>
</tr>
<tr height="20">
<td height="20">Ayr</td>
<td>Collinsville</td>
<td>Lammermoor</td>
<td>Proserpine</td>
<td>Toowong</td>
</tr>
<tr height="20">
<td height="20">Babinda</td>
<td>Cooktown</td>
<td>Landsborough</td>
<td>Rainbow Beach</td>
<td>Tully</td>
</tr>
<tr height="20">
<td height="20">Bells Bridge</td>
<td>Coorparoo</td>
<td>Malanda</td>
<td>Ravenshoe</td>
<td>Wondai</td>
</tr>
<tr height="20">
<td height="20">Booral</td>
<td>Crows Nest</td>
<td>Maleny</td>
<td>Redland Bay</td>
<td>Wonga Beach</td>
</tr>
<tr height="20">
<td height="20">Bowen</td>
<td>Gympie</td>
<td>Maryborough</td>
<td>Sherwood</td>
<td>Woodford</td>
</tr>
<tr height="20">
<td height="20">Boyne Island</td>
<td>Herberton</td>
<td>Mission Beach</td>
<td>Sunshine Coast Caloundra</td>
<td>Woodgate</td>
</tr>
<tr height="20">
<td height="20" colspan="2">Burleigh Heads</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
South Australia
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<col style="width: 48pt;" span="5" width="64">
<col>
</colgroup>
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<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt; width: 48pt;" class="xl65" height="20" width="64">Barmera</td>
<td style="width: 48pt;" class="xl65" width="64">Ceduna</td>
<td style="width: 48pt;" class="xl65" width="64">Minlaton</td>
<td style="width: 48pt;" class="xl65" width="64">Port Lincoln</td>
<td style="width: 48pt;" class="xl65" width="64">Stansbury</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Beachport</td>
<td class="xl65">Glenunga</td>
<td class="xl65">Mount Gambier</td>
<td class="xl65">Renmark</td>
<td class="xl65">Tumby Bay</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Berri</td>
<td class="xl65">Lyndoch</td>
<td class="xl65">Naracoorte</td>
<td class="xl65">Robe</td>
<td class="xl65">Waikerie</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Brighton</td>
<td class="xl65">Millicent</td>
<td class="xl65">Penola</td>
<td class="xl65">Salisbury</td>
<td class="xl65">Yorketown</td>
</tr>
</tbody>
</table>
Western Australia
<table style="border-collapse: collapse; width: 320px;" border="0" cellspacing="0" cellpadding="0" frame="box">
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<col style="width: 48pt;" span="5" width="64">
<col>
</colgroup>
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<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt; width: 48pt;" class="xl65" height="20" width="64">Augusta</td>
<td style="width: 48pt;" class="xl65" width="64">Derby</td>
<td style="width: 48pt;" class="xl65" width="64">Esperance</td>
<td style="width: 48pt;" class="xl65" width="64">Margaret River</td>
<td style="width: 48pt;" class="xl65" width="64">Spearwood</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Broome</td>
<td class="xl65">Dunsborough</td>
<td class="xl65">Glenfield</td>
<td class="xl65">Norseman</td>
<td class="xl65">Wickham</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Cowaramup</td>
<td class="xl65">Ellenbrook</td>
<td class="xl65">Jandakot South</td>
<td class="xl65">Quinns Rocks</td>
<td class="xl65">York</td>
</tr>
</tbody>
</table>
 
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National Broadband Network rollout expanded as Sydney's Blacktown switches on

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While most other Australian states continue to experience a real estate lull, the WA market has bounced back strongly to the point where it is hard to argue the case for another interest rate cut.
I know there are many people who would argue with me on this point, but if real estate sales in the rest of the country were as strong as they are here in WA currently I’m sure the Reserve Bank board would not be considering dropping rates.
Of course, there are other sectors of our WA economy, especially retail, that do continue to need assistance to boost trade. However, the last thing we need in WA is for our real estate market to overheat.  
The sub-$600,000 segment of the WA market has been strengthening for some time fired up by latent first-home buyer demand and this activity is now beginning to feed through to the higher prices as people upgrade to second and third homes.  
Obviously, a strong property market is always a good thing, but a short term boom fertilised by “irresistible” interest rates can only result in another long period of stagnation such as the 2008 to 2012 down market.
History shows that when the property market is down, everything is down because when people see their home value affected they lose confidence and are much less enthusiastic about spending elsewhere so this is another reason to avoid a boom and bust environment here.  
It’s a big call but, because the states can be so different economically there is almost an argument for rates to be adjusted to suit each market rather than a one size fits all approach.
Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/">RE/MAX WA</a>.
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Hard to support an interest rate cut in strong WA property market: Geoff Baldwin

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The New South Wales government has announced a review of the state’s planning laws suggesting some of the biggest changes in 35 years.
A white paper and draft legislation have been released and comments can be submitted until June 28, 2013.
Key among the changes will be how infrastructure is planned, delivered and paid for. For many years infrastructure has been a central concern among planners, the community and developers and has been a reoccurring theme for Project Agenda.
The white paper is proposing radical changes to the infrastructure charges and there is an urgent need for change as the current system can add as much as $100,000 to the cost of a new home. The current levies are seen as a major constraint on improving the level of supply of new homes in Sydney’s growth centres.
Currently developers are charged for, and then pass on, the costs of varied facilities and local amenities to buyers. The system is seen as very complex and expensive and lacking transparency.
Brad Hazzard, the NSW planning minister, has been quoted as wanting a simple and cheaper way of funding infrastructure with a direct link between the contributions and what is actually provided. From the feedback that I have observed, both the development industry and the wider community will welcome such an outcome.
The minister’s plans will limit the role of councils and ensure that money raised will be spent within three years and not simply squired away. This appears to be an overdue policy shift given that 43 Sydney councils have been accumulating $760 million of developer levies. Under the changes, local council will only be able to charge infrastructure fees for specific areas that will include essential roads, drainage and parks, and they will be unable to use levies to fund other projects.
But the big question, that only time will answer, is will these changes and many others contained in the white paper help improve housing affordability?
In theory the answer is yes. Because with new homes getting approval in just 10 days and some apartment projects and land subdivisions getting the go-ahead in less than a month, then in total all of the changes to the DA system are suggested to generate savings of up to $1.7 billion over the next 10 years.
Possible levy on all new homes
However, one aspect of the white paper that also requires some comment is the suggestion that a levy will be placed on all new home construction in metropolitan areas, not just those in new estates. The idea is that this levy will be redistributed and used for Sydney’s infrastructure shortage. The move to cover established areas is new and may impact investors and the knock down and re-build market.
While more and better infrastructure should stand to benefit, the possible levy which has been described ‘modest’ will be another cost that the end buyer may have to bear and is one of the ideas in the white paper that has received a lukewarm response.
But if we get better infrastructure and swift planning approvals then all buyers, property investors and developers should stand to benefit. There is no doubt that this debate will be very much back in the headlines in late June.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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Time will tell if proposed changes to NSW planning laws improve housing affordability: Peter Chittenden

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Ahead of today's decision by the RBA to cut the cash rate to 2.75%, the big banks were being urged to cut their variable mortgage rates.
Certainly home loan borrowers and the government will expect the major banks to pass on any cash rate cut in full to borrowers if that eventuates today after both <a target="_blank" href="/news">Westpac and ANZ reported 10% rises</a> in half-year cash profits of more than $3 billion each last week.
However, both Westpac chief executive Gail Kelly and <a target="_blank" href="/news">ANZ boss Mike Smith</a> have indicated that they would not consider cutting their home loan rates out of cycle of the RBA.
The major banks and their subsidiary brands dominate the home lending market, writing four out of every five new home loans according to April AFG figures.
Westpac is the biggest multi-brand player among the big four with Bank of Melbourne, St. George, BankSA and RAMS alongside its premier Westpac brand offering mortgages to borrowers.
NAB sells loans through it ‘red star’ brand, via mortgage brokers through its HomeSide offering and through its online offering UBank. It also owns mortgage aggregators PLAN, Choice and FAST, which sell loans through mortgage brokers.
The Commonwealth Bank owns Bankwest as well mortgage broker Aussie Home Loans, funding Aussie Home Loan-branded products.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison website <a target="_blank" href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of May 6:
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="127" valign="top">
Provider
</td>
<td width="129" valign="top">
Loan name
</td>
<td width="98" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="127" valign="top">
UBank
</td>
<td width="129" valign="top">
UHomeLoan - Refinance Variable Loan with a special Upfront Discount of 0.25%
</td>
<td width="98" valign="top">
5.12%
</td>
<td width="116" valign="top">
5.12%
</td>
</tr>
<tr>
<td width="127" valign="top">
Bankwest
</td>
<td width="129" valign="top">
Online Home Loan
</td>
<td width="98" valign="top">
5.38%
</td>
<td width="116" valign="top">
5.39%
</td>
</tr>
<tr>
<td width="127" valign="top">
Aussie
</td>
<td width="129" valign="top">
Select Basic Variable loan (LVR (70.01% – 80%)
</td>
<td width="98" valign="top">
5.49%
</td>
<td width="116" valign="top">
5.50%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHomeLoan - 1 Year Fixed Rate - Refinance Only
</td>
<td width="95" valign="top">
4.83%
</td>
<td width="114" valign="top">
5.34%
</td>
</tr>
<tr>
<td width="137" valign="top">
Aussie
</td>
<td width="123" valign="top">
Aussie Optimizer Fixed Rate Home Loan - 1 Year Fixed Rate
</td>
<td width="95" valign="top">
4.95%
</td>
<td width="114" valign="top">
5.62%
</td>
</tr>
<tr>
<td width="137" valign="top">
RAMS
</td>
<td width="123" valign="top">
RAMS Fixed Rate Home Loan - 1 Year Fixed Rate
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.29%
</td>
</tr>
</tbody></table>
Lowest two-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
NAB
</td>
<td width="133" valign="top">
Choice Package - Two Year Fixed Rate
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
6.00%
</td>
</tr>
<tr>
<td width="133" valign="top">
Commonwealth Bank
</td>
<td width="133" valign="top">
Two Years Fixed Wealth Package Home Loan
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
6.09%
</td>
</tr>
<tr>
<td width="133" valign="top">
Bankwest
</td>
<td width="133" valign="top">
Fixed Rate Home Loan - Two Year Fixed Rate
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
6.27%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
UBank
</td>
<td width="133" valign="top">
UHomeLoan - Three Year Fixed Rate - Refinance Only
</td>
<td width="97" valign="top">
5.13%
</td>
<td width="108" valign="top">
5.26%
</td>
</tr>
<tr>
<td width="133" valign="top">
Bankwest
</td>
<td width="133" valign="top">
Bankwest Fixed Rate Home Loan - Three Year Fixed Rate
</td>
<td width="97" valign="top">
5.19%
</td>
<td width="108" valign="top">
6.21%
</td>
</tr>
<tr>
<td width="133" valign="top">
NAB
</td>
<td width="133" valign="top">
Choice Package - Three Year Fixed Rate
</td>
<td width="97" valign="top">
5.29%
</td>
<td width="108" valign="top">
6.02%
</td>
</tr>
</tbody></table>
Lowest five-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
Bankwest
</td>
<td width="133" valign="top">
Fixed Rate Home Loan - 5 Year Fixed Rate
</td>
<td width="97" valign="top">
5.49%
</td>
<td width="108" valign="top">
6.15%
</td>
</tr>
<tr>
<td width="133" valign="top">
NAB
</td>
<td width="133" valign="top">
Choice Package - 5 Year Fixed Rate
</td>
<td width="97" valign="top">
5.55%
</td>
<td width="108" valign="top">
6.05%
</td>
</tr>
<tr>
<td width="133" valign="top">
NAB
</td>
<td width="133" valign="top">
Tailored Fixed Rate Home Loan - 5 Year Fixed Rate
</td>
<td width="97" valign="top">
5.65%
</td>
<td width="108" valign="top">
6.15%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
 
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Hold your fire, but here's the best fixed and variable big bank offerings from the Big Four banks and their subsidiaries

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The latest ABS retail sales figures for March will disappoint retail property landlords, particularly those with a high proportion of fashion-related tenants.
Following a rise of 1.3% rise in February,  retail turnover fell by a seasonally-adjusted 0.4% in March 2013.
This was well below expectations of a modest 0.1% gain in March.
The largest contributor to the fall in March 2013 was clothing, footwear and personal accessory retailing (-4.2%) followed by household goods retailing (-1.5%), other retailing (-1.0%) and department stores (-0.1%).
These falls were partially offset by rises in food retailing (0.8%) and cafes, restaurants and takeaway food services (0.2%).
Over the longer term, the largest contributor to growth was food retailing (up 0.5% in trend terms). 
Through the year, Australian retail turnover rose 3.2% in March 2013, seasonally adjusted, compared to March 2012. 
The drop in retail sales come as inflation rose 0.3% in April after a 0.2% rise in March, according to the TD Securities–Melbourne Institute Monthly Inflation Gauge, leaving inflation 2.1% up for the year, well within the RBA's target inflation band of 2% to 3.%.
ANZ comments that the fall in March retail sales was likely impacted by the timing of Easter this year (and the associated seasonal adjustment difficulties), but that March retail sales were 2.2% higher than at the end of last year.
"Together with the improvements in house prices, these data suggest that some interest-rate sensitive parts of the economy are beginning to improve. However, despite better consumer confidence and spending, there has been no notable improvement in business conditions and the non-mining investment outlook remains soft," says ANZ.
The trend estimate for Australian retail turnover rose 0.4% in March 2013. This follows a rise of 0.4 per cent in February 2013. Through the year, the trend estimate rose 3.3% in March 2013 compared to March 2012.
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Food better than fashion as retail sales fall by an unexpected 0.4% in March: ABS

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Leighton Properties has agreed to sell three office towers planned within the Kings Square mixed-use development in Perth to Dexus for $434.8 million.
This is the largest commercial property development sale in Western Australia.
It comes as Leighton Group reported first quarter 2013 net profit of $123 million and reaffirmed its guidance for full-year profit of $600 million.
The three buildings, KS1, KS2 and KS3, will be purchased by Dexus and its Wholesale Property Fund, subject to a number of approvals.
The towers will offer a total of 52,781 square metres of office and retail space.
KS1, on the corner of King and Wellington Streets, will have 23,156 square metres of tenancy space across 19 levels.
The 11-level KS2 tower has a further 20,440 square metres of space; and KS3 will have 9,185 square metres of commercial and retail space over nine levels and includes childcare facilities, shops, bicycle amenities and a gym. 
Construction will commence in mid-2013 with completion of all three buildings expected in mid 2015.
Kings Square forms part of the $4 billion Perth City Link project initiated by the State Government, the City of Perth and the Federal Government
Leighton Properties also announced that Shell Australia has signed on as anchor tenant at KS2 while Leighton Group subsidiary John Holland will relocate its Western Australian headquarters to Kings Square with a 5,360 square metre tenancy.
“Shell is investing more than $30 billion in Australia over the next five years, which includes our first Floating LNG project, Prelude,” says Shell Australia country chair Ann Pickard.
In addition to the three commercial and retail towers, the Kings Square precinct will include a further two commercial towers and two residential blocks.
Construction will be undertaken by Leighton Group contractors - John Holland and Leighton Contractors’ subsidiary Broad.
These transactions were facilitated by Simon Storry and Paul Noonan from Jones Lang LaSalle and Richard Butler from CBRE.
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Leighton sells three towers within Kings Square Perth development to Dexus for $434.8 million

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Fears of being gazumped are on the rise in Sydney as buyers face increased competition for properties in the improving market.
Gazumping occurs when a buyer has a verbal agreement with an agent or seller to buy a property at an agreed price but the property is sold to someone else for a higher price.
The incidence occurs in private treaty sales or when offers are made prior to auction. Auctions are binding sales and therefore absent of gazumping.
Raine &amp; Horne CEO Angus Raine says rebounding values could result in greater incidences of gazumping.
“Already I have received my first telephone calls from consumers beaten to the punch for a property, and this is historically a sign the market is hotting up,” Raine advised last month.
“In NSW, a home is still for sale until a prospective buyer and a vendor have exchanged contracts, and a deposit, which is usually 10% of the purchase price, has been paid.”
To avoid missing out, Raine advises aspirant buyers to familiarise themselves with the steps involved in buying a property.
“I’d also urge committed buyers to be quick to exchange contracts and pay a deposit, once they hit upon a suitable, well-located home, for the right price,” he says.
REINSW CEO Tim McKibbin says gazumping occurs more in “hot markets” where there is a shortage of property and there is greater competition among buyers.
He told News Limited weekend papers that buyers could protect themselves from gazumping by should ensuring contracts were signed as quickly as possible by both parties or to buy at auction.
NSW Fair Trading stresses that a property sale is “generally only binding on the vendor and buyer when contracts are exchanged between the two parties”
“Exchange occurs when the vendor signs their copy of the sale contract; the purchaser signs their copy, and the two parties ‘exchange’ their signed contracts. It is usual at this time for the purchaser to pay a deposit, usually 10% of the purchase price,”
“If you are gazumped, neither the agent nor the vendor is obliged to compensate you for any money you may have spent on legal advice, inspection reports, finance application costs or inquiries. However, your ‘expression of interest’ payment (if you have paid one) must be refunded to you in full” says Fair Trading in a special page on the topic on its website.
Real estate consumer advocate Neil Jenman warns buyers not to get their hopes up until a contract has been signed
“Buyers can count on nothing being certain until the sellers sign a legally binding contract. Between the time the sellers verbally agree to sell and the time they sign the contract, lots of things can happen. The sellers may get a better offer, they may decide not to sell or they may decide to increase the price,” he writes.
Tips from Neil Jenman to prevent being gazumped:
<ol>
<li>Consider making their highest offer rather than lowest offer and be prepared to walk away if they lose out. “It is tragic to lose the home you love because you bluffed too hard,” he says.</li>
<li>Try to meet the sellers. “It is hard for sellers to gazump you if they know you and like you and if they believe you have been fair with them”.</li>
<li>Insist that the agent informs you if another buyer offers more. </li>
</ol>
Raine &amp; Horne tips to avoid being gazumped
<ol>
<li>Have your finances pre-approved before making an offer</li>
<li>Obtain a copy of the Contract of Sale promptly, and pass it to your solicitor or conveyancer</li>
<li>Research your market so that you can be confident of putting forward a winning offer – then be prepared to move quickly to exchange contracts</li>
<li>Put an offer in writing – the law requires real estate agents to present all offers to the vendor</li>
<li>Signing a cooling-off period gives buyers time to organise a building and pest inspection without being gazumped. However if you don’t proceed, you will forfeit 0.25% of the purchase price to the vendor.</li>
</ol>
NSW Fair Trading tips for buyers to avoid being gazumped
<ol>
<li>Always have your loan finance pre-arranged, and ensure you can pay the 10% deposit, by Bank Cheque or a deposit bond so there is no delay before attempting to exchange contracts on a property.</li>
<li>Obtain a copy of the sale contract as soon as possible and have it examined by either your licensed conveyancer or solicitor.</li>
<li>Seek to exchange contracts with the vendor as soon as possible. Anyone puchasing residential property has a five-day cooling off period commencing from the time of exchange of the contracts. Only the purchaser can waive the cooling off period and it can be extended by agreement. During this time, you can do a building and pest inspection and have the contract examined. However, if you rescind the contract during this period, you forfeit .25% of the purchase price to the vendor, as the property has been taken off the market for a period of time. The amount forfeited is recovered from the deposit you paid under the contract. If the amount of the deposit is insufficient, you will have to provide the necessary additional funds. You should find information relating to the cooling off period in your contract.</li>
<li>Negotiate firmly with the vendor or real estate agent. Insist on the agent passing your bona-fide offers to the vendor and obtain written proof of this occurring. The law requires agents to do this. Be ready to exchange with a signed copy of the contract and follow through on the exchange process yourself or with another trusted person to ensure exchange. If you are advised that other offers have been made, demand to see written evidence. If you are certain that you want the particular property, be ready to possibly increase your purchase offer to the vendor.</li>
<li>Be aware that the vendor is not generally compelled to sell to any specific person and can change their mind at any time prior to the exchange of contracts. Vendors may not necessarily sell to the highest offerer, but may accept a lower offer from a prospective purchaser.</li>
</ol>
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‘Gazumping’ fears arise in Sydney: 13 tips to protect unlucky buyers

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The 21 out of 29 economists, polled by Bloomberg last week, who expect the RBA to leave the cash rate on hold tomorrow, could be wrong.
According to News Limited business commentator Terry McCrann, despite the weight of <a href="/news">the Bloomberg poll</a>, the decision whether to cut the cash rate to a pre-GFC low of 2.75% or keep it unchanged at 3% for the fourth successive monetary policy meeting is “balanced on a knife edge”.
Similarly, the Australian Financial Review’s Chris Joye says the RBA meeting on Tuesday is “live” with a rate cut a distinct possibility while economist and Business Spectator commentator Stephen Koukoulas says the case for a rate cut is “overwhelming”.
Were the RBA to cut the cash to 2.75%, it would be its lowest setting in 53 years with proxy historical RBA data going back to 1959 showing the previous low being <a href="/news">2.89% in January 1960</a>.
McCrann bases his assertion on a “mix of conflicting and confusing signals” he says the RBA is receiving on both the domestic and global economy.
Globally, he mentions the record highs achieved on Wall Street and on the German stock market contrasted by the weaker end to the week for the ASX.
However, adding to the confusion McCrann says, the European Commission now expects a deeper recession for that the eurozone economy, forecast to fall 0.4% in 2013 compared with previous expectations of a 0.3% fall.
“Europe is sick, sick, sick, but its sharemarket are booming,” he writes.
Adding to the anomaly, Australia’s economy is the “envy of the world” but its sharemarket is struggling.
While McCrann has higher hopes for the US economy on the back of cheaper oil discoveries, he expects things to end badly in Europe.
He also highlights the anomaly in the performance of Australia's major banks, now among the biggest in the world and with profits to match – as seen in the results posted by ANZ and Westpac last week, while lending remains subdued.
But, while bank share prices are surging, the big banks are finding it hard to grow their lending because of cautious consumers and property investors and business sector ‘that lacks confidence” relying instead on cutting costs and reducing bad debts.
The Australian Financial Review’s Chris Joye says the RBA meeting on Tuesday is "live" with financial markets pricing in a 56% chance of an easing in the cash rate.
He says there could be “tactical merits” for a "dovish" RBA board to cut the cash rate ahead of the Federal Budget announcement on May 14 thus “avoiding a messy election debate about whether the bank has passed judgment on Labor’s prudence”.
Apart from a political motivation, Joye says benign underlying inflation readings “give it more room to buttress growth without fuelling price pressures”.
Like McCrann, Joye also points out the confusing signals the RBA board must wade through noting that it has already revealed in previous statements that it is having “great difficulty working out what is happening to the economy now and, remarkably, in the recent past.
He says the RBA’s "army" of 260 analysts can’t reliably predict inflation, growth or jobs.
Joye also highlights that futures traders are better predictors of rate cuts than economists mentioning that research by Barclays economist Kieran Davies shows that “predictions of the cash rate one year out from Sydney Futures Exchange contracts beat consensus economist estimates 60% of the time.
Stephen Koukoulas began <a href="/news">tweeting last week about the need to cut the cash rate</a> after the disappointing building approval figures and argues in his latest Business Spectator column that the case for a rate cut is now “overwhelming”.
He accepts that he and the RBA got it wrong previously that “earlier interest rate cuts were percolating through the economy” with the central bank now close to missing its inflation target at the lower end of its 2% to 3% range, the Australian dollar remaining high, house prices edging lower in April, a gentle rise in the unemployment rate and a dip in business operating conditions among the factors in favour of a cash rate cut.
“These risks can be reduced with a prudent rate cut tomorrow,” he says.
Others are more certain about rates remaining on hold, but acknowledge a close decision.
“We think that the RBA will leave rates unchanged in a close decision, with June still our preferred timing for the next rate cut given a plethora of economic updates, including for business investment intentions, will then be available,” ANZ in its morning note today.
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