An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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?

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Landlords and real estate agents could face court, and prison or penalties up to $1.3 million, if they advice renters to use their superannuation to cover their rental payment during the coronavirus crisis.
In a note sent by ASIC's financial services enforcement group director Tim Mullally to the Real Estate Institute of Australia, Mullally said it could breach financial advice laws.
“ASIC is aware that some real estate agents are advising tenants who are unable to pay their rent, or who may find themselves in such a situation in future, to consider applying for early release of their superannuation," the letter read.
“Recent media reports and social media commentary outlining this conduct by some real estate agents is of significant concern to ASIC and, we would hope, you."
“ASIC intends to monitor this situation closely, and if contraventions of the licensing requirements of the Corporations Act are found, ASIC will not hesitate to act swiftly to protect vulnerable consumers,” Mullaly said.
The letter comes after workers who have been laid off due to COVID-19 were given permission to access up to $20,000 worth of superannuation over the next two years.
Mullaly continued stating that financial advice must only be provided by qualified and licensed financial advisers, not by real estate agents.
Individuals can be fined up to $126,000 and up to five years in jail for providing unlicensed financial advice. Corporations can be slapped with fines up to $1.26 million.
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“Tenants facing financial difficulty need sound financial guidance and potentially debt counselling. Specifically pointing them to and recommending them to consider the specific possibility of accessing superannuation is, again, likely to amount to a breach of the Act,” Mullaly said.
 
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jrobinson-rf4aSBido9

Landlords and real estate agents could face five years in prison by telling tenants to pay rent with their superannuation

Introducing <a href="/buildings/yarra-one-16-22-claremont-street-south-yarra">Yarra One</a>, the exciting new development to be delivered by <a href="/developers/ecoworld-international">EcoWorld International</a>.&nbsp;This stunning architectural tower is designed by Fender Katsalidis and will sit proudly on a coveted South Yarra site, perfectly positioned between both Toorak Road and Chapel Street. The apartments on offer feature timeless interiors and hotel-like amenities, bringing discerning buyers the epitome of a luxe South Yarra lifestyle.

Check out our video tour:

<div class="rtecenter"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/vuNa7eqgKwA" width="660"></iframe></div>

&nbsp;

<a href="/buildings/yarra-one-16-22-claremont-street-south-yarra">YARRA ONE</a> AT A GLANCE

Developer:&nbsp;<a href="/developers/ecoworld-international">EcoWorld International</a>

Architect:&nbsp;<a href="/architects/fk-australia">Fender Katsalidis</a>

Location: 16-22 Claremont Street, South Yarra VIC 3121

Number of apartments: 251

Construction slated for completion: 2020

[smartcode_project_cta: project_id=3127]

[smartcode_project:default project_id=3127 project_image_fid=31085]

&nbsp;
<h2>THE DESIGN</h2>


Upon entering the Yarra One Display Suite, you immediately feel at home with the warmth of rustic timber and golden lighting. Everything about the display exudes modern, future-focused design, that is built to last, including streamlined cabinetry, stainless steel Miele appliances and ample storage. Luxurious stone benchtops and statement pendant lights add a sense of timeless style.

[smartcode_project:default project_id=3127 project_image_fid=31086]

The minimalist design of the kitchen has been replicated in the bathroom, with the use of contemporary matte black fittings and tapware, complemented by stone tiling, twin vanities, a rainfall showerhead, soft globe lamps and a concealed cistern, akin to a lavish hotel bathroom.&nbsp;

Yarra One apartments feature an abundance of built-in storage perfect for buyers looking to downsize with ease, and plenty of design options to customise your new home to your personal taste.&nbsp;

[smartcode_project:default project_id=3127 project_image_fid=31089]

<h2>THE LIFESTYLE </h2>

Apartments are available in one, two and three-bedroom configurations, ranging from 50&nbsp;to 180 square metres in size. However, living at Yarra One extends far beyond the square meterage of your apartment with an abundance of unrivalled amenities with some unique offerings including in-house dog washing, Tesla car-sharing and a wine cellar and tasting room.

[smartcode_project:default project_id=3127 project_image_fid=31092]

Yarra One also features an activated atrium dedicated to dining and retail tenancies. Residents will also enjoy the use of a fitness and yoga studio, two outdoor spas, a bookable private kitchen and dining room, a barbeque area and fireplace, a rooftop garden and more.

<h2>THE LOCATION</h2>

The highly coveted location of Yarra One offers residents direct access to Chapel Street shopping and dining precinct while being only two train stops or a 15-minute drive to the CBD. Yarra One is also within an excellent school zone for some of Victoria&#39;s most prestigious secondary schools.&nbsp;

[smartcode_project:default project_id=3127 project_image_fid=31093]

For more information, and to move into a brand new home by the end of 2020, <a href="/buildings/yarra-one-16-22-claremont-street-south-yarra">reach out to a Yarra One sales agent</a> via Urban today, as these apartments are selling quickly.&nbsp;

Olivia Round

Urban’s tour of the Yarra One display suite

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Lenders Mortgage Insurance (LMI) has been suspended by insurance company QBE for new loans taken out by home buyers who work in industries that have been hit the hardest by the coronavirus crisis.
QBE have started notifying home loan lenders of the decision to suspend the coverage.
QBE have defended the decision, arguing that lenders would be inclined to curtail home lending in response to the pandemic.
“We expect responsible lending obligations would have put a stop to much of the lending to those impacted by the COVID-19 crisis,” a QBE spokesperson told Banking Day. 
“The temporary embargo was issued to all of our lenders.” 
ASX-listed bank Auswide had sent a note to mortgage brokers on Monday regarding the LMI suspension.
“Mortgage insurers yesterday (Sunday) advised that in response to what is a rapidly changing environment they are imposing a temporary embargo on applicants working in the industries most directly impacted by COVID-19,” Auswide told brokers.
“Effective immediately a temporary embargo is in place on all new applications received for applicants working in the industries directly impacted by COVID-19, for example those working in gymnasiums, beauty salons, tourism and hospitality industries.
“Exceptions may be considered by the mortgage insurers on a case by case basis.”
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Mortgage insurance coverage for new loans suspended for high risk coronavirus workers

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Construction hours have been extended today by the New South Wales Government in a bid to "encourage businesses to keep going".
Construction sites can now operate on weekends and public holidays under new rules introduced to support the industry during the COVID-19 pandemic.
Planning and Public Spaces Minister Rob Stokes said the move allows workers to abide by social distancing rules while keeping construction projects progressing by allowing building work to be spread across more days of the week.
“The construction and development sectors, which make up almost ten per cent of NSW’s economy, will be vital in keeping people in jobs and keeping investment flowing over the coming weeks and months,” Mr Stokes said.
“We’re doing what we can to support the industry in line with the current medical advice by extending weekday construction site operating hours to weekends and public holidays.
“The extended hours allow the industry to facilitate social distancing on construction sites, while minimising the potential for lost productivity during the pandemic.”
The Environmental Planning and Assessment (COVID-19 Development – Construction Work Days) Order 2020 is now in place and will continue until the COVID-19 pandemic is over, or the advice of NSW Health changes.
“In NSW there are almost 400,000 people employed in the property and construction industry and we are committed to doing everything we can to keep each of them in work, but most importantly, to keep them safe and healthy,” Mr Stokes said.
The Environmental Planning and Assessment Act 1979 was amended on 24 March to enable Mr Stokes to issue orders that override normal planning controls during the COVID-19 pandemic to ensure the health, safety and welfare of communities.
Compliance with this Order will be monitored and reviewed if there are any adverse impacts on the community or from a <a href="https://www.safeworkaustralia.gov.au/covid-19-information-workplaces/preparing-workplaces-covid-19/building-and-construction-minimising" target="_blank">public health perspective</a>.
Construction workers have been concerned for their health safety and job security after tradespeople from two sites tested positive for coronavirus. 
As <a href="http://lmip.gov.au/default.aspx?LMIP/GainInsights/IndustryInformation/Construction" target="_blank">the sector employs 9.2 per cent of the workforce</a>, a shutdown of the sector would have led to catastrophic job losses. 
In the aftermath of the housing downturn in 2019, approximately 50,000 construction jobs were lost when the total labour market decreased from its peak of 9.5 per cent a year earlier. 
<a href="https://www.curbed.com/2020/3/30/21199753/coronavirus-covid-19-construction-industry" target="_blank">Industry lobbyists</a> have also argued that building sites need to keep function in spite of deferral restrictions in order to support such critical infrastructure as new health facilities.
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Construction hours extended to support industry during COVID-19

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The Agency have again pushed back their debt repayment with their major funder Macquarie.
Earlier this week The Agency, set up in 2017 by a band of former McGrath agents, updated shareholders that they negotiated a two week extension on their debt repayment to their tier one funder.
It pushed the March 31 payment to April 9.
The Agency have negotiated a further extension, with the repayment date now pushed until after Easter, April 14.
"The Board will provide a further update to the market closer to the conclusion of the extension period", the ASX update advised.
The Agency's share price has dropped 20 per cent since the initial announcement, with shares now trading at ¢4, down from ¢5.
In their first debt payment extension notice, The Agency advised it had been in discussions with other credible debt providers regarding refinancing of its primary bank debt.
All non-commissioned staff at The Agency will see their hours cut, effective mid-April, given the reduced workloads due to the ongoing COVID-19 pandemic. 
 
 
 
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The Agency gets funding extension until after Easter

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The minister for housing Michael Sukkar's has clarified what the six month moratorium on evictions means .
The ABC's Patricia Karvelas asked if people can stop paying rent if there's a moratorium.
"The short answer to your question is of course not", Sukkar said.
"There is a moratorium on evictions, but there's not a moratorium on the requirement to pay rents", Sukkar added.
The housing minister said it's useful to separate commercial and residential.
"From a commercial perspective, I know that our national cabinet will have more to say further to their principles that were outlined last week on how, particularly states and territories, are going to deal with it.
"As the PM has said, we need landlords and tenants to come together, and there must be an element of sharing the pain."
Sukkar said it's not in any landlords interest to lose a great tenant who may be going through short term difficulty.
"We are seeing a lot of landlords and tenants working closely together but we need to put in some minimum standards and that's what I'm confident the national cabinet will do."
Sukkar's clarification has been welcomed by the Real Estate Institute of Australia.
“A moratorium on evictions doesn’t mean rent is not payable, it is", REIA president Adrian Kelly said.
"If circumstances mean that payment in full is not possible it is a holding off from payments, not a cancellation.
“It is for people who cannot pay at this time not for those that can.
“If you can pay your rent now, you pay it.
“If you can’t pay your rent now, you have been given grace for six months, but will have to catch up when you are able to pay it again.”
 
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Tenants in rental moratorium will have to pay rents: Housing Minister

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As COVID-19 pandemic measures see corporate travel grinding to a halt, directly wreaking havoc on the business accommodation sector, national corporate accommodation provider, Urban Rest Apartments, has responded with a nation-wide temporary 14 day COVID-19 self-isolation package.
Aimed at corporate travellers returning from overseas, as well as local families seeking a more comfortable self-isolation experience, <a href="https://www.propertyobserver.com.au/urbanrest.com.au." target="_blank">the package</a>’s nightly rates equate to less than half the company’s standard rates. 
 
Available under the temporary offer, alongside their existing nationwide portfolio, is a brand new five-star luxury hotel in Sydney’s inner suburbs, which was recently added to Urban Rest’s accommodation range, and features 90 serviced apartment-style suites offering indulgent living spaces and standout hotel experiences. 
<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/2020/4/1/image%204.jpg" alt="">
All of the properties offered include full kitchens, internal laundries and large living spaces as standard, with food hampers and additional sanitising and cleaning equipment available for those in self-isolation.
Under the COVID-19 self-isolation package, properties available in Urban Rest’s portfolio start from prices as low as $120 per night.
Urban Rest’s founder and Managing Director, David Whelan, said: “Many corporates are accommodating their returning international business travellers in standard hotel rooms, which sees them holed up in tiny spaces where they are having to live and try to work productively in really challenging environments, during their self-isolation.  
“In contrast, we’re offering larger and more comfortable apartments and houses at a heavily reduced rate, at a time when health and wellbeing is paramount. 
“We feel it’s imperative for accommodation providers to step up to the mark and do what we can for people during these unprecedented times – and that goes for everyone in the community.  
“Whilst we hope to see business travel, which is our normal target market, rebound over the coming months, the focus for us at Urban Rest, for the immediate future anyway, is to assist the community during this pandemic. We all need to play our part.” 
Launched in 2017 by Mr Whelan, who brought his investment management experience to the start-up enterprise, Urban Rest has rapidly grown its portfolio of high-quality serviced apartments and houses to five cities in Australia, with apartments in Sydney, Adelaide, Canberra, Melbourne, Brisbane, as well as an expansion to New Zealand on the horizon. 
Urban Rest’s impressive collection of residences in central locations include The Arc by Crown and York &amp; George in Sydney’s CBD. Its clients include blue-chip giants such as McKinsey &amp; Co, Boston Consulting Group, KPMG, Amazon and Canva, all using the service for their long-stay accommodation needs.
“Our properties are either new or recently renovated to ensure high quality consistency throughout our portfolio, so it’s pleasing to offer these premium properties to the broader community to make their self-isolation periods a far more comfortable experience,” added Mr Whelan.
“This is incredibly important at the moment when the lines between the workplace and home have become increasingly blurred with so many of us having to work from home. These apartments provide bigger liveable spaces to offset this inconvenience at this most challenging time.” 
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Urban Rest offers COVID-19 pandemic self-isolation packages

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Leading property industry technology solutions firm, Realm Australia, is encouraging property managers to make use of its new Rental Property Self-Inspection app to help protect staff and tenants from possible exposure to the COVID-19 virus.
The Rental Property <a href="https://www.propertyobserver.com.au/propertyrealm.com.au/remote-inspections/" target="_blank">Self-Inspection app</a> uses innovative AI technology to facilitate tenants performing remote inspections, with a full report automatically delivered to the property manager for further analysis.
CEO and lead technologist of Realm Australia, Mr Patrick Hill said, “We developed the Rental Property Self-Inspection app in response to industry requests for a solution that minimises on-site interactions during the current COVID-19 crisis.
“What we have delivered with the Rental Property Self-Inspection app is a user-friendly tool that eliminates the need for property managers to go on-site, reduces travel and minimises the need for face to face contact during the COVID-19 crisis.”
The Rental Property Self-Inspection app involves a 3-step process:
Step 1: The property manager enters the tenant’s details and submits the web form. The tenant receives an SMS and email with a dedicated link, asking them to complete the online remote inspection.
Step 2: The tenant completes the required details, attaches photographs where applicable, and submits the web form.
Step 3: The platform collates an Inspection Report with images, and delivers a full report to the Property Manager who initiated the process.
“Self-isolation, quarantine, travel bans – these are all words that no one expected to dominate the news in March 2020. But each of us can play a part in minimising the spread of COVI-19 through social distancing. The Rental Property Self-Inspection app protects both tenants and property managers while supporting the normal functioning of the property manager’s business – and in particular, their obligations to landlords to complete routine maintenance inspections,” said Mr Hill.
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New remote property inspection app protects tenants and property managers

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Over 80 per cent of residential real estate agents around the world say the coronavirus pandemic has cut their 2020 earning expectations, according to the first international survey of real estate on the impact of the outbreak.
More than 60 countries took part in the Juwai IQI Market Intelligence 2020 survey, with every country citing a loss of earnings.
Real estate agents in Greece have the worst outlook.
Some 95 per cent of Greek agents expect the coronavirus pandemic to cut their earnings in 2020, with two-thirds of those forecasting they will earn "significantly less."
 
<img src="https://www.urban.com.au/images/2020/3/Screen%20Shot%202020-04-01%20at%2010.26.02%20am.png" alt="">
As well as Greece, more than four out of five agents in a further five countries expect to earn less in 2020 due to the coronavirus pandemic.
In Australia, 84% of agents expect to earn less in 2020, with 58% suggesting the impact on their earnings will be significant and only 27% expect it to be moderate. 
In Singapore, 88% of agents expect to make less.
The share of Singapore agents who expect to earn "a little less" is, at 47%, larger than the 41% who believe they will make "significantly less."
Malaysian and Philippine agents are the least pessimistic among those surveyed.
In Malaysia, 74% of agents expect to earn less in 2020, with 38% expecting to earn “significantly less” and 33% expecting to earn “a little less.”
In the Philippines, 68% of agents expect to earn less in 2020 due to the Coronavirus, with 38% expecting to earn “significantly less” and 30% expecting to earn “a little less.”
One of the strategies agents will use to preserve their incomes, according to the report, is to invest more in marketing to foreign buyers. Worldwide, 18% of agents report foreign buyers are one of their strategies.
Perhaps because of the relative significance of foreign buyers to their markets, agents in the Philippines and Portugal are the most likely to report plans to do so. In both the Philippines and Portugal, 26% of agents plan to increase their foreign buyer marketing.
In Malaysia and Thailand, 22% of agents will increase their investment in marketing to foreign buyers. In Greece, 21% of agents will do so. The share is 18% in Singapore, 16% in both Canada and Australia, and 12% in the USA.
 
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Coronavirus driving agents earnings down worldwide; Juwai IQI Market Intelligence 2020 survey

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Australia’s largest member-owned banking organisation, CUA, has announced a Financial Assistance Package to help support its members impacted by the COVID-19 situation.
CEO Paul Lewis said CUA has listened to the concerns of its members over the past week and has prioritised measures that will help provide immediate relief to those most impacted.
Among the changes, CUA announced interest rate relief for home-owners with new two-year and three-year fixed home loan rates of 2.29 per cent p.a. (comparison rates* of 4.11 per cent p.a. and 3.94 per cent p.a. respectively) on offer for owner occupiers paying principal and interest – a reduction of at least 0.55 per cent p.a. The rates will be available for new lending and loan switches from 1 April 2020.
Members will also have an option to defer repayments on mortgages and business loans for up to six months1 if they are experiencing difficulty as a result of COVID-19. They can also extend their loan term by the same length of time to ease the pressure when repayments resume in the future.
CUA will lift its 12-month term deposit rates by 0.30 per cent p.a. to a market-leading 2.00 per cent p.a. and for members aged 55+ to 2.10 per cent p.a., helping those living on fixed incomes including retirees. Meanwhile, CUA Health private health insurance policy-holders will be able to suspend their policy and premium payments for three months if their income is reduced as a result of COVID-19.
“We are seeing a significant increase in members contacting us for support, including those whose job or income has been affected, as the nation continues its efforts to contain the spread of coronavirus,” Mr Lewis said.
“As a member-owned organisation, we have supported our members and communities for more than 70 years and it’s what we will continue to do as we face this challenge. We will be here to help members get through this period of uncertainty and get back on their feet.”
Mr Lewis said CUA had strived to support the diverse needs of its 560,000 strong member base.
“Our COVID-19 Financial Assistance Package contains relief for members with home loans, small businesses, deposits, personal loans and health insurance,” he said.
“Members with variable home loans have also received a 0.25 per cent p.a. interest rate reduction this week, following the RBA decision at the beginning of March, providing them with relief with one of the most competitive rates in market.
“This is an unprecedented situation and we are doing our best to provide much-needed relief, prioritising the assistance we know our members urgently need right now.”
The CUA Financial Assistance Package will include:
Support for members with home loans
<ul>
<li>
Reduction to fixed home loan rates: New 2.29 per cent p.a. 2-year and 3-year fixed home loan rates (comparison rates* of 4.11 per cent p.a. and 3.94 per cent p.a. respectively) for owner-occupiers making principal and interest repayments, effective Wednesday 1 April 2020 – a reduction of at least 0.55 per cent p.a. These rates are available for new or existing members.</li>
<li>
Repayment relief for members with home loans: You can defer your home loan repayments for up to six months if you are experiencing difficulty as a result of COVID-19. We can also extend your loan term by the same length of time to ease the pressure and minimise the increase to your repayments when you start to make them again. To apply online in just a few minutes, visit <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=btYXC68syxmDVppbhVzFoYHdeMNV9070xvOlf%2FNdDQ0wXj6aidRhm9xCjWNfzPTg3iNx%2FAa4t%2FTEuHrerhKoECpU73Uhf2D7UXSRJLKb9%2Bb%2FnLrGlLndcbkj4%2BJM8eXB%2BpdQDlKXnbMabjBkCEhF%2BQ%3D%3D&amp;G=0&amp;R=http%3A%2F%2Fwww.cua.com.au%2Ftools-and-services%2Fsupport%2Ffinancial-assistance&amp;I=20200325063441.00000f0d4a3e%40mail6-114-ussnn1&amp;X=MHwxMDQ2NzU4OjVlN2FmYWY3NjM2MGYwMTA5ZDY4MjM1ODs%3D&amp;S=7kEPwJLrkY3wBsvKkVWshe_rbbzJuoZPg6e0t3FsuE8" target="_blank">www.cua.com.au</a>
</li>
<li>You can access fee free redraw and offset if you have a variable or fixed rate loan with these features. </li>
<li>We’re offering the flexibility to shift from Principal and Interest payments to Interest Only for eligible members. (Note a change of interest rate will apply).</li>
<li>If you’re paying more than the minimum repayment each month, you can request to reduce this to the minimum payment amount, freeing up extra cash flow.</li>
<li>We don’t charge annual package fees or account keeping fees on our home loan products and will waive any late payment fees on home loan payments.</li>
</ul>
Support for members with deposits
<ul>
<li>We’ve increased our 12-month Term Deposit rate by 0.30 per cent p.a., launching a special offer of 2.00 per cent p.a. interest rate for all Australians and a 2.10 per cent rate for members aged over 55 years. These rates are effective Wednesday 25 March 2020.</li>
<li>For members who have been impacted by COVID-19 and require additional assistance, the early release of Term Deposit funds will have no interest adjustment up until the release of funds from the term and no break costs.</li>
<li>CUA does not charge account keeping fees on deposit products.</li>
</ul>
Support for members with personal loans or credit cards
<ul>
<li>We will waive late fees for personal loan repayments. Other assistance options may also be available for members on request.</li>
<li>Repayment relief for credit cards is available on a case by case basis, with no fees for replacement cards.</li>
</ul>
Support for members with CUA Health insurance
<ul>
<li>CUA Health policy-holders experiencing financial difficulty or a loss of income as a result of COVID-19 can suspend your policy and premium payments for three months by phoning CUA Health on 1300 499 260. If you require hospital treatment during the period of the suspension, you should contact CUA Health and we will work with you to reactivate your policy.</li>
<li>For the duration of the COVID-19 pandemic, CUA Health will cover members for all in-hospital COVID-19 treatment irrespective of their level of hospital cover, provided they have held the CUA Health hospital policy for at least two months.</li>
</ul>
Support for small business 
<ul>
<li>
Repayment relief for small business members: You can defer your business loan repayments for up to six months if you are experiencing financial difficulty as a result of COVID-19. We can also extend your loan term by the same length of time to ease the pressure and minimise the increase to your repayments when you start to make them again. To apply online in just a few minutes, visit <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=btYXC68syxmDVppbhVzFoYHdeMNV9070xvOlf%2FNdDQ0wXj6aidRhm9xCjWNfzPTg3iNx%2FAa4t%2FTEuHrerhKoECpU73Uhf2D7UXSRJLKb9%2Bb%2FnLrGlLndcbkj4%2BJM8eXB%2BpdQDlKXnbMabjBkCEhF%2BQ%3D%3D&amp;G=0&amp;R=http%3A%2F%2Fwww.cua.com.au%2Ftools-and-services%2Fsupport%2Ffinancial-assistance&amp;I=20200325063441.00000f0d4a3e%40mail6-114-ussnn1&amp;X=MHwxMDQ2NzU4OjVlN2FmYWY3NjM2MGYwMTA5ZDY4MjM1ODs%3D&amp;S=7kEPwJLrkY3wBsvKkVWshe_rbbzJuoZPg6e0t3FsuE8">www.cua.com.au</a>
</li>
<li>We’re reducing secured overdraft rates by 2.00 per cent p.a. for small business members.</li>
<li>We’re reducing variable rates on term loans for existing small business members from Wednesday 8 April 2020:
<ul>
<li>We’re reducing the rate for term loans with residential security to a new variable rate of 4.39 per cent p.a.</li>
<li>We’re reducing the rate for term loans with commercial security to a new variable rate of 4.89 per cent p.a.</li>
</ul>
</li>
</ul>
CUA will continue to keep members updated on services, and the support available, at <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=btYXC68syxmDVppbhVzFoYHdeMNV9070xvOlf%2FNdDQ0wXj6aidRhm9xCjWNfzPTg3iNx%2FAa4t%2FTEuHrerhKoECpU73Uhf2D7UXSRJLKb9%2Bb%2FnLrGlLndcbkj4%2BJM8eXB%2BpdQDlKXnbMabjBkCEhF%2BQ%3D%3D&amp;G=0&amp;R=http%3A%2F%2Fwww.cua.com.au%2Fcoronavirus-info&amp;I=20200325063441.00000f0d4a3e%40mail6-114-ussnn1&amp;X=MHwxMDQ2NzU4OjVlN2FmYWY3NjM2MGYwMTA5ZDY4MjM1ODs%3D&amp;S=6FWcqdHa8AsSpwqMFSH7DdxfFvTl3U-W8vLjSpHtal0" target="_blank">www.cua.com.au/coronavirus-info</a>
* Comparison rate calculated on a $150,000 loan over 25 years based on monthly repayments. WARNING: Comparison rate true only for example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rate.
1. If members choose to defer their loan repayments, they will continue to incur interest which will be added to the outstanding loan amount. When the repayments resume, they will be higher, to ensure the outstanding balance is paid over the remaining term of the loan.
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