<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

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

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

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

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

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

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

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

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

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

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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It’s winter, and most of us are not at maximum enthusiasm. On top of this it’s tax season. To make matters worse you have received a letter from the ATO advising they will be conducting an audit of your tax affairs.
For many this is a daunting task and dare I say it; even a visit to the dentist is looking better. With an increasing number of ATO audits it is imperative that as a property investor we prepare ourselves for an easy passage that can be achieved by following a few simple steps. 
<ol start="1">
<li>Audit insurance. A relatively inexpensive policy can at least assist with the costs of an audit.</li>
<li>Ensure that the name on the property contract (and therefore title deed) is the same as on the loan documents. The primary information is the title deed and if the loan is in different names then additional paperwork in the form of an “On Loan Agreement” may be required to substantiate the interest deductibility to the ATO.</li>
<li>Ensure all rents and property expenses pass through the bank account in the same name as the property title deed.</li>
<li>Your depreciation schedule must be prepared by a quantity surveyor.</li>
<li>If a renovation has been completed you should have a properly prepared scraping schedule to allow you to write off the value of the items you throw away.</li>
<li>All repairs and maintenance costs must be fully justified and you need to ensure that any costs of a capital nature are depreciated and not expensed. This can be tricky and a repair to the kitchen cabinets prior to the property being rented is deemed capital while the same repair during a rental period could be a repair.</li>
<li>Ensure all your records are easily accessible. The use of a rental agent can assist, as he should be authorised to pay all expenses (other than interest) and receive all rents. He will send you a monthly and annual summary with all supporting documents attached.</li>
<li>If you are using a trust you need to ensure that the trust has been correctly written and operated, especially if as an individual you are claiming negative gearing. Remember not all trusts are the same and many do not allow the taxpayer to claim negative gearing, which the Chan &amp; Naylor Property Investor Trust ® allows.</li>
<li>The use of a tax variation request will improve your cashflows and may reduce the risk of an audit especially if a large refund is envisaged.</li>
<li>If you have incorrectly made a claim in your tax return then a voluntary disclosure to the ATO prior to the tax office completing the audit could significantly reduce penalties. </li>
<li>Even if you are innocent of any wrongdoing an ATO audit can be nerve-racking. Above all work with an experienced property accountant who will help you through any audit or review. </li>
</ol>
Ken Raiss is a certified accountant and director of <a title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm. Chan &amp; Naylor offers a free five-minute question-and-answer session on its website under the<a href="https://www.chan-naylor.com.au/ask-the-experts/" target="_blank"> "Ask the Experts" section.</a>
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How property investors can ease the pain of a tax audit

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The receivers of failed fund manager and lender Provident Capital are seeking managers for two of its frozen mortgage funds and have also announced that an “informal” information session will be held for debenture holders on August 13.
Phil Carter, Tony Sims and Marcus Ayres from PPB Advisory, who were appointed on July 3 following a Federal Court order, have placed an advertisement in the Australian Financial Review calling for indicative offers to be the responsible entity and manager of the Provident Capital Monthly Income Fund and the Provident Capital High Yield Fund.
There are around 520 unitholders for both the monthly income and high yield funds, which collectively hold around $32 million of funds under management.
Indicative offers are due by August 21.
This advertisment is part of expression-of-interest campaigns for the sale of part of Provident's assets and business launched by PPB Advisory since its appointment.
PPB Advisory has also announced that an information session for all debenture holders will be held at 10.30am at the Wesley Conference Centre at 220 Pitt Street in Sydney on Monday, August 13.
Victorian debenture holders can attend a telecast of the meeting at the Rydges Hotel, 186 Exhibition Street in Melbourne; Queensland debenture holders can attend  at the Christie Conference Centre Caribbean Room at 320 Adelaide Street in Brisbane; South Australian debentures holders can attend at the Hilton Hotel Victoria Room at 233 Victoria Square in Adelaide (10am South Australian time).
For those debenture holders in Perth, a meeting will be held at the Hilton Hotel Swan Room at 14 Mill Street (8.30am Perth time).
The receivers have stressed this is an "informal information session only".  
"No binding resolutions on the debenture holders will be passed and attendance or non-attendance will not impact your rights or claims as a debenture holder in any way."
As many as 3,500, mainly small investors have about $130 million invested in debentures with Provident Capital.
The receivers have also commenced developing asset management strategies for each non-performing loan and commenced investigation into the affairs of the company and what claims may be available  against third parties.
Around 85% of Provident loans were six months or more in arrears, according to its most recent financial booklet prior to its collapse.
The receivers are currently preparing an application to the Federal Court to confirm the methodology proposed to pay future distributions, but have warned of a shortfall on the principal amount owing to debenture holders and have determined that it would be “inappropriate for any future distributions to include an interest component”.
“Subject to the Court’s approval, to ensure all debenture holders are treated equally, all future  distributions to debenture holders during the Receivership will be made on a pro-rata basis in reduction of the face value of debentures,” say the receivers.
Property Observer has heard from borrowers who have complained that prior to the collapse of the lender, they had received little communication about even basic things such as the size of their debt, while being charged tens of thousands of dollars in roll-over fees.
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Provident receivers set August date for information session and seeks managers for two mortgage funds

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The appeal of fixed-rate mortgages declined for the third straight month in June to represent the lowest proportion of the owner-occupier market since September last year, according to ABS housing finance data.
Fixed loans of two years' duration or more accounted for just 10.2% of all owner-occupier lending in June, well down from 12.3% of loans in May.
Fixed-rate mortgages reached a recent peak of 14.6% of owner-occupier loans in March, according to the ABS, and were also high at 14% in April, but have declined since in line with the RBA cutting the cash rates in May and June with expectations of at least one more rate cut this year.
The average size of a fixed-rate loan was $289,500, according to ABS figures.
According to July figures from mortgage broker AFG (one month ahead of the ABS), fixed-rate loans held steady 16% of all loans processed, as most new borrowers opted to stick with variable rates.
July figures released by Mortgage Choice show a marked drop in demand for fixed-rate loans from 18% to 15% as demand for variable-rate home loans reached an 11- month high due to speculation of another rate cut in coming months.
Click here for the current (as of August 7) fixed and variable rate offerings in the market.
{module What do you intend to do given the current interest rate fluctuations?}
For information on refinancing, watch our free webinar Refinancing and the Interest Rates Riddle
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Fixed-rate loans losing their appeal: ABS data

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The Commissioner of Taxation has warned small businesses that have received grants or payments relating to floods or other natural disasters that it is cracking down on any income that is not declared.
Speaking at the <a href="https://www.smartcompany.com.au/tax/051003-talk-to-us-early-tax-commissioner-michael-d-ascenzo-delivers-plea-to-struggling-companies">NAB National Business Summit</a> Commissioner Michael D'Ascenzo told the audience the Australian Taxation Office was investigating $40 million in claims using data matching.
"There is a level of non-compliance there," D'Ascenzo said.
"An area where we are expanding our use of information matching is in relation to the receipt of taxable government grants and payments.
"This includes grants made direct to individuals and businesses, as well as contractor payments to individual and business entities from all three levels of government.
"In relation to these types of payments, we matched records from more than 10,800 taxpayers in 2011-12 and identified businesses not reporting correctly through undeclared income or overdue returns, raising more than $40 million in liabilities."
"Following<a href="https://www.smartcompany.com.au/politics/20110128-flood-levy-what-it-will-cost-you-and-what-s-been-cut"> severe flooding in Queensland </a>and natural disasters elsewhere in Australia, the public have been very clear that they have no tolerance for misuse of funds intended to rebuild communities affected by natural disasters."
A spokesperson for the ATO told SmartCompany the commissioner's reference to $40 million relates to data matching across all government grants, not just the flood areas.
"It's not necessarily fraud, it could be people just did not realise they had to declare that income," the spokesperson said.
"The flood regions were a focus because there were some dodgy operators up there on the rebuild."
D'Ascenzo said by working with other agencies such as the Department of Climate Change and Energy Efficiency, the ATO was able to identify a government grant, of $200,000 that was not declared.
"Further information from the Department of Human Services highlighted the same taxpayer had also received a disability support pension, at the same time," he said.
A spokesperson for the ATO says the office is using data-matching to identify and follow up businesses that are not correctly reporting taxable grants and other payments from federal, state and local levels of government.
"This includes grants that are awarded to micro businesses and contractor payments made to micro businesses across the three levels of government," she says.
In 2011-12 the ATO matched records from more than 10,800 taxpayers, and identified businesses not reporting correctly through undeclared income or overdue returns raising more than $40 million in liabilities.
Deepti Paton, tax counsel at the Tax Institute, told SmartCompany that taxpayers who had made honest mistakes in relation to government grants were on the radar of the ATO as well as deliberate fraudsters.
"The law in this area is not easy and it is something that people in that situation need to take professional tax advice on," she says.
"The ATO is very wise to ensure compliance with the rules because these payments are intended to benefit people who need them and should be treated a certain way under the tax laws.
"It's in everyone's interest that everyone complies with these laws, which is not to say that non-compliance is intentional, as it is easy to get it wrong."
Paton says problems arise as this is an area that most taxpayers are not used to dealing with.
"Obviously we have had a lot of natural disasters recently, so a lot of the taxpayers... may be in this situation for the first time," she says.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Tax office warns about $40 million in tax rorts following Queensland floods

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First-home buyers as a proportion of total owner-occupier housing finance commitments rose to their highest level in five months in June, according to ABS housing finance data.
In original terms, the number of first-home buyer commitments as a percentage of total owner-occupied housing finance commitments rose to 18.3% in June 2012, from 17.8% in May 2012.
It was the third successive month that first-home buyer commitments as a percentage of total owner-occupied housing finance commitments have risen.
Loans to first-home buyers were up a strong 4.3% for the month, noted Westpac, to be up 11.8% in the June quarter as a whole.
"This likely reflects the buyer incentives expiring in Victoria and to a lesser extent NSW and SA although lower interest rates also played a role," says Westpac.
"The upgrader market remains essentially flat with loans up 1.2% for he month only partially reversing a 1.5% fall in May. Loans to this segment are unchanged from a year ago".
The proportion of first-home buyers in the market was 16.8% in April, 16.4% in March and 17.2% in February.
However, first-home buyers made up 20.3% of the market at the start of the year.
Between June 2012 and May 2012, the average loan size for first home buyers rose $3,600 to $289,400.
The average loan size for all owner-occupied housing commitments rose $1,900 to $295,500 for the same period.
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First-home buyers at highest level in five months: ABS

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The number of owner-occupier home loans approved in June rose 1.3% to 46,859 on a seasonally adjusted basis, according to the latest ABS housing finance data.

This was up from a slightly upwardly revised figure of 46,280 home loans in May (the unrevised figure was 46,120 loans).

However, the June rise was below economists' forecasts (as polled by Bloomberg) of a 2% rise in housing finance commitments in June following the successive rate cuts in May (50 basis points) and June (25 basis points).
By state, outcomes for May were mixed. Excluding refinancing loans were up 4.4% in Victoria, 2.3% in NSW and 1.8% in SA but about flat in WA (+0.2%) and down 3.6% in Queensland.
Loans for the purchase of new dwellings rose 9.7% to 2,210 while construction loans rose 4.9% to 5,410.

Business Spectator columnist Stephen Koukoulas called this an “encouraging result” in a tweet this morning.

The June mortgage figures also show that banks had 88% of the market over the month.

The total value of mortgages lifted 2.4% on a seasonally adjusted basis to $20.724 billion. This was in line with expectations.
Between June 2012 and May 2012, the average loan size for first-home buyers rose $3,600 to $289,400.
The average loan size for all owner-occupied housing commitments rose $1,900 to $295,500 for the same period.
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Mortgage approval numbers lift 1.3% in June, below expectations, but some encouragement for new housing: ABS

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The decision by the RBA board to keep the cash interest rate at 3.5% has not come as a big surprise. 
While many home buyers had hoped for further relief in terms of repayments, the global economic climate and our own markets here had suggested that there would not be a further cut just yet. 
On reflection, we have seen moderate growth in China, some growth in the US and some reassuring movements in the European financial markets, which would stand to reason not to cut the rate further. 
While our labour market remained strong – even recording a slight growth despite job cuts in some industries – and business credit on the increase, the RBA’s decision to keep the interest rate steady is understandable. 
Home owners who had hope for another cut should look at refinancing as an option, especially if their property is financed with a fixed-rate loan. Bear in mind the availability of more flexible loans that allow switching back and forth between fixed and variable rates. These loans may be the best suited in order to make the most of the already low rate and be able to make the most of any future cuts.
 Robert Projeski is a leading property finance expert and the founder and managing director of <a href="https://%20www.amo.com.au" target="_blank">Australian Mortgage Options</a>. He has appeared on radio and TV and written extensively on property and finance matters.
{module Have you changed lenders in the last six years?}
{module What do you intend to do given the current interest rate fluctuations?} 
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Mortgage holders who had hoped for RBA cash rate cut should consider refinancing

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Westpac chief economist Bill Evans has continued to revise expectations of the next RBA cash rate cut but is sticking with his forecast of at least one more reduction in 2012.
But he is rapidly running out of monetary policy meetings for this to happen, with November now tipped by Evans as the next likely time the RBA will move.
If the forecast were to be pushed back even further, this would only leave December 4 for one more rate cut in 2012 – a far cry from Evans' end-of-May forecast of a 2.75% cash rate by year-end.
The RBA does not meet in January.
Evans was most bullish at the end of May, following the 5o-basis-point cash rate cut, correctly forecasting a 25-basis-point rate cut in June.
However, expectations of further rate cuts in July and August did not eventuate. Evans also said at the time that he expected another rate cut in the fourth quarter, bringing the cash rate down to a record low of 2.75%.
These expectations have been revised back over the last few months as the property market shows some signs of life, unemployment remains low and the domestic economy performs in line with expectations.
Following yesterday’s RBA decision to keep the cash rate on hold in August, Evans said the subsequent monetary policy decision statement suggested November was now the most likely month for the next rate cut.
"[Yesterday’s] monetary policy decision statement gave little encouragement that a move in September can be expected, and it may be that even October will be a little early given the likely 0.8% print for GDP growth in the June quarter on September 5," Evans said.
On July 17 Evans pushed back Westpac’s forecast for the next rate cut from August to either October or November.
Evans is by no means the only economists to back-track on rate cut forecasts, with the Commonwealth Bank’s Michael Blythe also pushing back forecasts from August to November.
“The main pressure for lower rates reflects global risks – either directly through slower growth and financial market volatility or indirectly through lower commodity prices and a falling terms-of-trade. We retain a rate cut in our forecast profile for November partly as a reflection of those risks,” Blythe said.
However, Evans' revisions will be eagerly followed.
He was the first noted economist to tip the RBA to begin its current rate cutting cycle in November last year, tipping it as early as mid-2011 – while other economists did not foresee a rate cut and some even forecast rates to rise.
Analysing yesterday’s statement from the RBA, Evans found comments to encourage both interest rate doves and hawks.
He said the statement included “subtle changes in the wording around some of the risks to the outlook” but that there was “nothing that would indicate a material change in the bank's 'wait and see' attitude”.
But he said there was still some encouragement in the governor’s wording for “doves” like Westpac, which is forecasting a December quarter rate cut.
“Whereas in July he referred to the unemployment rate remaining low in this statement he notes "unemployment has THUS FAR remained low".
“This may be partly in response to the rise in the unemployment rate from 5.1% to 5.2% as reported for June.
“The doves also received some encouragement when he referred to inflation being expected to be consistent with the target "over the next one to two years" – no time period was given in the July statement.
“On inflation we are also aware that the vank is concerned to see domestic costs slow due to the likely eventual rise in traded inflation when the exchange rate stabilises.
“In this statement he recognised that there was some evidence that domestic costs had slowed noting "domestic costs [are required to] continue their recent moderation.
“Finally the doves will be encouraged that there appears to be an air of concern around the fact that the exchange rate has remained high despite the decline in the terms of trade," Evans noted.
However, Evans also noted that there were a few comments in the governor’s statement to “encourage the hawks”.
“The governor noted that "Australian banks have had not difficulty in accessing funding". He pointed out that "dwelling prices have firmed a little over the past couple of months" and of course is now describing growth as "close to trend".
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Next rate cut now more likely in November, says Westpac’s back-pedalling Bill Evans

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RBA governor Glenn Stevens had only a little to say about the housing market in <a href="/news">his monetary policy decision statement </a>after leaving the cash rate on hold at 3.5%, but the brief mention he gave the property market was the first positive-leaning observation in months.
It was against the backdrop of observations that the rate of unemployment has thus far remained low, inflation remains low, and the outlook for inflation is expected to be consistent with the target over the next one to two years.
Noting monetary policy was currently easier than it was for most of 2011, the governor indicated interest rates for borrowers were a little below their medium-term averages.
The key sentence for property investors and home buyers was:
“While it is too soon to see the full impact of those (interest rate) changes, dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years.” 
The governor’s assessment that the housing market had firmed a little over the past couple of months contrasts quite strongly with the terminology used to the describe the housing market in past months.
Only a month ago, in the July 3 statement he referred to the housing market as “subdued”; in June he said it had “recently declined again”; in May he again called it “subdued” and back in April he described it as “soft”.
You have to go back to February for any vaguely positive outlook about the housing market, when Stevens noted that “housing prices showed some sign of stabilising at the end of 2011”.
In the December 2011 statement prior to February's, Stevens noted that “credit growth remains subdued and asset prices have declined further over recent months”.
While hardly jumping up and celebrating a revival in the housing market, Stevens may be hinting that, just possibly, the market may have turned the corner.
No doubt, Stevens would have taken note of the 0.6% and 1% capital city growth figures recorded by RP Data-Rismark in July and June as well as the o.5% June quarter growth recorded for capital city house price by the ABS, as well as its str0nly upwardly revised March quarter figures.
All eyes will now turn to the next batch of monthly figures from RP Data-Rismark for August (released on September 1) to see whether the recovery can be sustained for a third straight month (without the inducement of a rate cut) when the spring selling season commences.
Some earlier indications of a firming market may be seen in housing finance data for June released by the ABS tomorrow.
Economists polled by Bloomberg last week are forecasting a 2% rise in the number of home loans sold over June after 1.2% fall in May.
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No longer 'subdued, 'soft', or 'declining', but 'firming': RBA’s Glenn Stevens has a new perspective on the housing market

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<a target="_blank" href="https://www.rba.gov.au/media-releases/2012/mr-12-18">RBA governor Glenn Stevens has released a statement </a>regarding today's board meeting decision to keep the cash rate on hold.
"At its meeting today, the board decided to leave the cash rate unchanged at 3.5%," the statement says.
"Having picked up in the early months of 2012, growth in the world economy has since softened. Current assessments are that global GDP will grow at no more than average pace in 2012. Most commodity prices have declined, which has helped to reduce inflation and provided scope for some countries to ease macroeconomic policies. Australia's terms of trade peaked nearly a year ago, though they remain historically high.
"China's growth has moderated to a more sustainable pace, but does not appear to be slowing further. Conditions in other parts of Asia have recovered from the effects of last year's natural disasters, though the ongoing trend is unclear and could be dampened by the effects of slower growth outside the region. Growth in the United States continues, but at only a modest pace. The most significant area of weakness continues to be Europe, where economic activity has been contracting and policymakers confront the very difficult task of seeking to put both bank and sovereign balance sheets onto a sound footing, while promoting conditions for improved long-term growth," Stevens says.
"Financial markets have responded positively to signs of progress, but Europe will remain a potential source of adverse shocks for some time. Low appetite for risk has seen long-term interest rates faced by highly rated sovereigns, including Australia, decline to exceptionally low levels. Nonetheless, capital markets remain open to corporations and well-rated banks and Australian banks have had no difficulty accessing funding, including on an unsecured basis. Share markets have remained volatile, though in net terms they have generally risen over the past couple of months.
"In Australia, most indicators suggest growth close to trend overall. Labour market data show moderate employment growth, even with job shedding in some industries, and the rate of unemployment has thus far remained low.
"Inflation remains low, with underlying measures near 2 per cent over the year to June, and headline CPI inflation lower than that. The effects of the price on carbon will start to affect these measures over the next couple of quarters. The Bank's assessment of the outlook for inflation is unchanged: it is expected to be consistent with the target over the next one to two years. Maintaining low inflation over the longer term will, however, require growth in domestic costs to continue their recent moderation as the effects of the earlier exchange rate appreciation wane.
"As a result of the sequence of earlier decisions, monetary policy is easier than it was for most of 2011, with interest rates for borrowers a little below their medium-term averages. While it is too soon to see the full impact of those changes, dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years. The exchange rate, however, has remained high, despite the observed decline in the terms of trade and the weaker global outlook.
"At today's meeting, the Board judged that, with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate," Stevens says.
 
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NAB bring forward first RBA cut to February 2025

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