Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

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

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

NAB bring forward first RBA cut to February 2025

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GUEST OBSERVATION
I hear many stories where some buyers have been gazumped and others who struggle to obtain the right information from the agent to submit an offer. We even have sellers who don't trust their own real estate agent.
All of these things and many other grey areas do not lead to the best result for the buyers and especially the sellers. The problem lies in buyers and sellers not understanding the legal frameworks the agents are bound within. In this article I want to dispel the myths and the grey areas of common problems that buyers and sellers have with real estate agents.
By the end of this article you should be armed with the right knowledge to help your property transaction go through smoothly as possible.
<ul>
<li>How strict are the authorities?</li>
</ul>
Some people think the real estate agents can get away with murder. This is far from the truth as the perception of the industry is somewhat of a low one. Some surveys reveal that people trust a local sex worker more than their real estate agent. This perception has made us one of the most heavily regulated industries in Australia.
Real estate agents are constantly audited by the ATO, covertly spied on by Fair trading at auctions, taken to CTTT tribunals by tenants/landlords, disciplined by The REI, fined by Australian Securities and Investments Commission about advertising and not to mention being sued!
As you can imagine this is a hazardous industry for a business owner with so many governing bodies keeping it in line. As such, the insurances go through the roof to own and run a real estate agency.
Because of this and Australia's love for property, real estate agents are a target for governing bodies and journalists, as everybody wants to catch a real estate agent doing the wrong thing.
The truth is governing bodies love to make examples of real estate agents as it gets them a lot of publicity, it shows the public that they're doing their job. This leads into my next subject;
<ul>
<li>What are agents constantly apprehensive of?</li>
</ul>
Most agents just want to do their job to the best of their ability without being sued, fined, and or disciplined. This is the underlying tone of the industry but nobody really discusses it.
With every new tightening rule, law and regulation comes more paperwork and administration. We find ourselves using emails, text messages and data basing of diary notes just to cover our rear ends.
This comes as a double edge sword for buyers and sellers as they want everything done cheaper, faster and better. Sometimes this is impossible because buyers, sellers and lawyers like to target real estate agents and inadvertently add to the red tape/cost of running an agency.
This has forced real estate agents to hold the ground on their fees or risk taking shortcuts. I see this many times, for example where agents will show me (not knowing that I'm an agent) a property they have for sale that they do not have a contract of yet. It’s illegal for an agent to advertise a property for which they do not have a contract of sale.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Gazumping
Gazumping refers to when you have a verbal agreement with an agent or seller to purchase a property at an agreed price but the property is not sold to you in the end. Gazumping is a very real problem but it's usually the lack of buyers’ understanding of the law and how contract signing works that gets them in trouble. The buyers in turn blame the agent. This is where our data basing of diary notes and emails comes in handy.
We find especially in a hot market, we have to repeat ourselves at least three times in three different ways for people to put in their best and final offer so they don't feel like we have done the wrong thing by them. Yet people still complain that they would've offered higher. In my observation, it’s easy to say this when things have cooled off and people are just annoyed that they have missed out.
The key to understanding this is not to crack open the champagne until the owner has signed the contract and it is dated. Without a date the contract is invalid. You signing a check with your 10% does not mean you have purchased a property. There are some sales strategies out there in which the agents get three signed contracts and then show the vendors from lowest to highest to get the vendors to agree to a price. The best way to get your contract signed is to make your offer the most attractive you can and this may not just be money but other things such as settlement and rent back options.
To avoid not being called back and missing out on an opportunity to raise your offer, I recommend to stay in constant contact with the agent. You have already indicated your interest, so it doesn't hurt your negotiation by constantly calling them. In fact it can work in your favour if the agent slips up and gives you more information.
Not knowing where you stand when it comes to your offer
My friends and I have invested in a lot of property so I know all too well the feeling of not knowing where you stand when it comes to submitting an offer. My observation of being on both sides of the fence is that it is mainly the lack of trust you have in the agent that is selling to you that creates this feeling.
I found a good way to combat this is to call their bluff on their creating a Dutch option which is illegal. Agents may get offended or annoyed but this is a valid question that I put to them during negotiation and keeps them in line, telling them that it is illegal for them to disclose my offers to other buyers.
Sellers lose money not trusting their agent
When selling you don’t need to like your real estate agent but not to trust them can cost you thousands of dollars. When you sign an agency agreement with certified real estate agent they are in a legal binding contract to work in your best interest to get you the best price for your property.
Agents have a fiduciary requirement to work in your best interest. It is illegal for them to work against you. This is in the back of the mind of every selling agent. They are in the middle doing their best to maintain their relationship with the buyer but also trying to achieve the highest possible price the your property.
Agents have their agency agreements audited all the time to see if there is any discrepancies that show collusion with buyers, nondisclosure, secret commissions, or getting the value of your property wrong. They can be caught out very easily.
This is why you don’t need to like your agent to trust them because they have no choice but to work in your best interest.
I will give you an example that I see happens every week in real estate that cost sellers at least $10-$20,000 on a selling price.
The seller normally thinks that their property is the best in the world and that’s fair enough if you have grown up in the area and have created memories in your home. However, this emotional attachment makes sellers think that we under-price the value of their home and that people would actually be prepared to pay more than the market price.
This is entirely not true and I see seller’s market high prices for their home, killing enquiry levels and interest in the most important first week of advertising. You will always get a peak of interest in the first week.
In fact more enquiry drives the price up and what usually drives enquiry is a low advertised price.
Note: The advertised price is not your asking price it is just advertising (backed up by comparable sales of course). Your selling price is completely different.
Many sellers do not trust agents when they explain this and that is understandable with all the emotions around property and money. But you really need to see it from a buyer’s perspective before you look at it from a seller’s perspective.
This concept can help you achieve above market price for your property, as agents are in the market every day. Remember the sale is not based on the advertised price but what others are prepared to pay when competing against one another, this is normally call a “market price”.
Summary
I challenge you to look up the rules, laws and regulations agents have to work within. This will help you have more confidence in your property transaction and dealing with agents.
Here are some resources I suggest;
<ul>
<li><a href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Rules_of_conduct/Real_estate_agents.page" style="line-height: 1.3em;">fairtrading.nsw.gov.au</a></li>
<li><a href="https://www.commerce.wa.gov.au/consumer-protection/real-estate-agents-and-sales-representatives" style="line-height: 1.3em;">commerce.wa.gov.au</a></li>
<li><a href="https://www.reinsw.com.au/iMIS15_prod/web/actsandregulations" style="line-height: 1.3em;">reinsw.com.au</a></li>
</ul>
Jhai Mitchell is the internet marketing real estate agent for <a href="https://www.elderstoongabbie.com.au/" target="_blank">Elders Toongabbie</a> and <a href="https://www.elderskingslangley.com.au/" target="_blank">Kings Langle</a> and maintains a blog, <a href="https://realestatesevenhillsnews.com.au/" target="_blank">Seven Hills Real Estate News</a>.
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JhaiMitchell-KTraswnPwa

How the sales process works: What laws do real estate agents have to abide by?

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Stamp duty is a tax paid by property buyers upon the purchase of a home or investment property. It’s not only levied on real estate – it’s also charged on a number of other assets – however, it’s most often discussed around property.
It’s charged on land, established homes, new properties, apartments, villas and pretty much all property sales and even gifts of property. Stamp duty is often also payable on your mortgage.
As the figure can add a substantial cost to purchasing a property, it pays dividends to be aware of what the cost may be upfront.
When you’ve bought a property you have 30 days after settlement within which to pay your stamp duty.
However, the total amount does differ by state and territory as it is levied by the state and territory governments and is not a federal charge. This means that buying the same priced property in Victoria will see you charged a different amount than if you bought it in South Australia.
Duty is usually charged by a threshold structure, based on how expensive the property is that you are buying.
You may be eligible for a concession or to even have your stamp duty waived, if you are a pensioner, a first home buyer, purchasing your principal place of residence or buying new (under certain schemes). Similarly, some groups, such as farmers, can achieve concessions. These concessions, again, are decided by your state and territory and so will differ.
Occasionally, no duty or minimal duty will be charged under a certain amount, however this is usually not a figure high enough to purchase a substantial property holding ($25,000 or so). In some states, duty can go as high as 7% for premium-priced properties (over $3 million). Usually, you pay based on the market value or the purchase price and take whichever is higher to do the calculation.
The stamp duty rates can change, so it’s worth keeping an eye out for any alterations made by your state or territory government.
You can usually pay your stamp duty by BPAY, mail, overseas or local EFT or in person at the local regulating office (e.g. OSR). You can also pay ahead of time.
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What is stamp duty? Investment terms explained

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Australians with a mortgage of $489,300 or more will see themselves spending $1 million or over for the life of their 30 year loan, according to Finder’s research.
The statistic is calculated on an average variable interest rate of 5.5%.
In a situation where the mortgage is 80% of the property value, then a property bought for $611,625 or more will end up costing more than $1 million.
Michelle Hutchison, money expert at Finder, said that borrowers are not looking down the track to see how much they end up spending when they look to see if they can afford a home loan.
“While it’s likely that your home will increase in value over a 30-year loan term, it might not compensate the cost of a home loan as the money you end up spending can be greatly increased if you have a small deposit and don’t shop around for a good value deal,” she said.
“This research was based on the average variable rate of about 5.5% but borrowers need to remember that there’s a big difference between what lenders are offering, which can mean bigger costs for a home if you’re not careful.”
She notes that the lowest ongoing variable rate they are current recording is 4.39% from Heritage Bank, or 1.11% lower than the average variable rate.
“Take advantage of the online tools and comparisons of different home loans to help you find the best value deals,” she said.
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A $500,000 mortgage will cost $1 million plus over 30 years

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Mortgage Choice announced the appointment of John Flavell as its chief executive officer, set to join the company in April 2015.
He comes from National Australia Bank’s MLC where he is the executive general manager, wealth advice, with more than 20 years experience in executive leadership positions and 15 years in financial services.
Flavell has held senior roles at Aussie Home Loans where he was part of the executive team responsible for the successful transition of the business into mortgage broking.
Mortgage Choice’s current chief executive officer Michael Russell will work alongside Flavell in a transition phase and then depart the business at the end of the 2014/15 Financial Year.
“While I cannot wait to start in my new role, I am going to take a break for a little while to spend some time with my three daughters," Flavell said on his Christmas Eve appointment announcement.
"I will then come back fresh in April and ready to work closely with Michael and the executive team on accelerating the business for further success in 2015 and beyond.”
Russell joined Mortgage Choice as CEO in 2009, developing two three-year plans to expand the company.
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John Flavell appointed to succeed Michael Russell at Mortgage Choice

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The proportion of borrowers refinancing has jumped to 37.3% of all new mortgages written in December, according to the AFG Mortgage Index.
The Index shows the proportion of home loan borrowers refinancing over the month was the highest level since that recorded in March 2012.
The last quarter of 2014 saw an increase from 33.5% refinanced in September by 3.8%.
Those opting for fixed rates fell to 14.5%, down from 17.1% in November.
The proportion of introductory loans jumped from 4.9% in November by 0.9% to the December month. These are incentivising products offered by lenders.
AFG’s general manager of sales and operations, Mark Hewitt, said that in March 2012, when we last saw refinancing at these highs, borrowers were looking to fix, with fixed interest loans at a four year high.
“This time round with speculation that interest rates are more likely to go down than up, borrowers are shopping around for the variable rate deal and avoiding fixed for the time being,” he said.
Victoria, South Australia and Queensland saw refinancing most popular at 42.2%, 41.7% and 39.9% respectively. Western Australia and New South Wales achieved 36.7% and 31.8%.
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Refinancing surges in December: AFG

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The Australian Capital Territory Civil and Administrative Tribunal (ACAT) has lowered the penalty tax for a couple who operated an investment property while living overseas, but found that being unaware of a tax was no excuse for a failure to pay.
In 2012, Geoffrey Wade and Siew Imm Tan were living in Singapore due to personal circumstances. In April that year, they used an agent, PRD Nationwide, to rent out their Australian property. For two years, from May 2012 to May 2014, the property was leased, and they were liable to pay land tax for the two years.
Neither the couple nor their agent notified the state tax department of the rental agreement within the required 30 days of its commencement. Once the couple were aware of their tax liability, in early 2014, they began paying the land tax off immediately, in installments.
The Commissioner for ACT Revenue decided to impose a penalty tax on Wade and Tan above the default 25% of unpaid tax, at 50%. The 50% rate usually applies if the taxpayer isn't able to provide a reasonable excuse for failing to pay their land tax, and the mistake was caused by a failure of the taxpayer to take reasonable care.
If a taxpayer intentionally disregards tax law, they are usually charged a penalty at 75% of the unpaid tax. The penalty rate can increase to 90% in certain circumstances.
Wade and Tan disputed the 50% penalty rate, arguing that their agent, acting on their behalf, should have notified ACT Revenue that their property was being rented.
They contended that the legislation which saw them incur a penalty of 50% was irrelevant, as it referred to an owner that had not notified the Commissioner of a rental property, not an agent that had not notified the Commissioner.
However, the Commissioner argued that owners were still responsible for declaring a rental property, even in the case where there has been a failure to do so by the agent. Tan and Wade, it was contended, had failed to take reasonable care, and had an obligation to independently figure out their tax obligations.
Ultimately, the Tribunal considered the couple's exceptional circumstances: Tan and Wade had to remain overseas, were unable to access mail from the Commissioner, and had been let down by their agent (who did not appear as a witness). It also noted that Tan and Wade had not heard of land tax, and upon realising they had a tax obligation, immediately began paying their land tax.
It was, however, also noted that the couple had failed to take reasonable steps to ensure they met their tax obligations, and that they couldn't receive a full remission of their penalty tax.
The Tribunal decided to remit 40% of the penalty tax imposed, which meant they were required to pay a 40% penalty tax, rather than the 50% sought by ACT Revenue.
 
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ACAT softens penalty tax for unaware couple

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At the close of 2014, the big topic was whether the Reserve Bank (RBA) would actually cut rates this year, with an increasing number of experts forecasting the board would do just this.
It seems consumers may be responding to the speculation, according to Mortgage Choice spokesperson Jessica Darnbrough, who said their statistics show more borrowers choosing variable rates.
“At the beginning of December last year, speculation was rife that the Reserve Bank of Australia could cut the cash rate throughout 2015,” Darnbrough said.
“Ongoing weakness in the Australian and global economy has encouraged some analysts to change their cash rate forecasts to include up to two further rate cuts,” she said.
“While future cash rate cuts are purely speculation at the moment, it would seem the chatter has been enough to encourage more home buyers to take out a variable rate mortgage.”
Victorians are those most keen on variable rates, totalling 85.79% of all home loans written in December. South Australia and Western Australia totalled 82.81% and 82.11% respectively for variable rate loans.
New South Wales borrowers, at the bottom of the pile for variable rates, saw fixed rate demand strong at 30%.
“Australia’s lenders are offering some very sharply priced products at the moment, so regardless of what type of home loan product you eventually decide upon, now is a good time to be a home buyer,” said Darnbrough.
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RBA speculation sees borrowers turn to variable: Mortgage Choice

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The High Court of Australia has sided with the Commissioner of State Revenue in a stamp duty disagreement over Docklands developments.
In the decision, made last month, the High Court ruled that the Commissioner was entitled to reference the entire value of a development agreement, rather than just the sales contract value, when assessing stamp duty payable.
Developer Lend Lease made an agreement with VicUrban in 2001 to purchase Docklands land parcels, with Lend Lease to develop and sell large residential and commercial properties on the land. Both Lend Lease and VicUrban agreed to contribute infrastructure, including a bridge, a park and a road extension, on and around the land.
Under the development agreement, Lend Lease was required to pay additional amounts to VicUrban beyond what was outlined in the sales contract. The additional payments included compensation for infrastructure and remediation, as well as a portion of proceeds received by Lend Lease when they sold properties on the land.
Lend Lease objected to the Commissioners assessment of the stamp duty payable, which referenced the entire quantity paid by Lend Lease as part of the development agreement. The developer argued that the consideration paid for each parcel of land only included the amount specified in the sales contract.
However, the High Court disagreed. In the decision, reference was made to a dispute in 2005 between Dick Smith Electronics and the Commissioner. In that case, the majority held that the total consideration included the buyer's execution of several promises outlined in an agreement which contributed to the overall sum, as the vendor would not have transferred the asset (in that instance, a bundle of shares) if the buyer hadn't taken those actions.
After the Commissioner disallowed Lend Lease's initial objections to his assessment, Lend Lease launched an appeals process which saw the High Court ultimately agree with the Commissioner's assessment. Lend Lease has stated that it respects the High Court's decision.
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High Court rules stamp duty consideration extends beyond sales contract value

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Two Melbourne men, Najam Shah, 55 of Glen Waverley, Victoria and Aizaz Hassan, 34, of Truganina, Victoria have been arrested and charged following an ASIC investigation into the alleged use of false documents in support of loan applications valued at about $110 million.
Shah and Hassan have been charged with one count each of common law conspiracy to defraud, according to an ASIC release.
The charges relate to the men’s roles at a Footscray company, Myra Home Loan Pty Ltd trading as Myra Financial Services (no longer trading).
It is alleged that between April 2008 and December 2011, Shah and Hassan conspired to defraud 12 lenders, banks and other financial institutions, by creating and using false documents to support loan applications submitted on behalf of Myra clients.
The false documents included bank statements, payslips, citizenship certificates and statutory declarations. These were predominantly used in support of applications for home loans for house and land packages as well as for the purchase or refinance of existing homes. 
At least 350 loans valued at $110 million were submitted and approved on behalf of Myra clients.
The alleged conspiracy involves submission of false documents for more than 300 loan applications to numerous banks and financial institutions, including the Commonwealth Bank of Australia, Westpac Banking Corporation, St George Bank, Bankwest, Adelaide Bank, ANZ, Bank of Queensland, Choice Home Loans, Citibank, National Australia Bank, Pepper Homeloans and Suncorp Bank.
Property Observer gleans the company was established in 2006 out of Whitehall Street premises.
The offence carries a maximum penalty of 15 years imprisonment.
Shah appeared at the Melbourne Magistrates’ Court and Hassan before a bail justice on 2 January 2015.
Shah and Hassan were bailed on conditions including that they report to police twice a week, surrender valid passports or any other valid travel documents and not apply for any other, not attend any points of international departure and not leave Australia.
Both men are to reappear at the Melbourne Magistrates’ Court on 17 April 2015.
Manija Zayee, Shah’s partner and former Myra director, has also been charged on summons in connection with this matter with one charge of obtaining a financial advantage by deception. Zayee is to appear at the Melbourne Magistrates’ Court on 27 January 2015.
It is alleged that Zayee submitted false documents in support of a loan application for a home loan, in her own name, in September 2009.
The matters are being prosecuted by the Commonwealth Director of Public Prosecutions.
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Arrests follows after 12 lenders caught in alleged $110 million Myra Home Loans fraud

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<div>
Banker Jon Sutton has been appointed the new chief executive of Bank of Queensland (BOQ).
</div>
Sutton, who joined BOQ in 2012, has been acting chief executive since the departure of Stuart Grimshaw in September last year. Sutton was previously BOQ’s chief operating officer.
He has more than two decades experience in banking and prior to BOQ was the managing director of Bankwest. 
Before that he was executive general manager of Commonwealth Bank Agribusiness.  
<div>
The Bank of Queensland chief executive Stuart Grimshaw resigned to pursue a non-banking opportunity outside Australia at a small financial services company in the United States, the NASDAQ listed Ezcorp which owns the Cash Converters franchise. It also has outlets in Mexico through Grupo Finmark and the UK through Cash Genie.
The bank chairman Roger Davis said the board was disappointed at Grimshaw's departure. Grimshaw had joined BOQ in November 2011, succeeding David Liddy, who had been the chief since April 2001.
</div>
The bank is one of the oldest financial institutions in Queensland, with a network of around 270 branches, including 152 in Queensland, 52 in New South Wales, 23 in Victoria and 34 in Western Australia.
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NAB bring forward first RBA cut to February 2025

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NAB bring forward first RBA cut to February 2025

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