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.

Joel Robinson

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

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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

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

NAB bring forward first RBA cut to February 2025

<html><body>
The Bank of Queensland (BOQ) has lifted mortgage rates by 10 basis points following yesterday’s decision by the RBA to leave the cash rate unchanged at 4.25%.
The increase, which will be effective from March 16, lifts BOQ’s standard variable home loan rate to 7.46% per annum, on par with the Westpac, and among the highest rate currently on offer in the market. 
The regional bank was one of the few lenders not raise interest rates in February, pledging to keep them unchanged until at least the March decision by the RBA.
Stuart Grimshaw, CEO and managing director of BOQ, says the bank had “held rates for as long as it could in the interest of customers” but that the increase was “necessary”.
"Competition is fierce for local deposits, and to remain competitive BOQ needs to provide strong rate returns on our term deposits. 
"BOQ has covered the higher cost of funding for a number of months to provide our lending customers with certainty, and it is disappointing that we’re unable to continue on that course. 
"This decision has not been made lightly and as always, we will be doing our best to support our customers in whatever way we can," he says. 
In February following the surprise decision by the RBA to leave rates on hold, <a target="_blank" href="https://www.propertyobserver.com.au/economy/bank-of-queensland-challenges-big-four-banks-with-promise-to-hold-rates/2012021053331">Grimshaw said BOQ would hold rates steady until the next RBA meeting</a>. 
“We understand many home owners and small business owners are concerned about out of cycle interest rates and want to take this opportunity to reassure our customers that we won’t be increasing our standard variable interest rates at this stage,” Grimshaw said at the time. 
“We want to continue to build long-term relationships with our customers.  Our focus remains on our customers – not on what our competitors are doing. 
“So, BOQ customers, rest easy.  We’re on your side and trying to do the right thing for you,” he said last month. 
ANZ currently has a standard variable rate of 7.36%, Commonwealth Bank's is at 7.41%, and NAB is at 7.31%.
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Bank of Queensland lifts rates by 10 basis points to 7.46%

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Heritage Bank has recorded an 82% spike in the number of home loan inquiries it received in February, compared with the average number of inquiries in the previous five months.
The jump in mortgage inquiries coincides with the Queensland-based bank offering its mortgages to all states and territories via mortgage brokers since February 1.
The mutual lender, formerly known as the Heritage Building Society, says 30% of the mortgages it wrote in February were refinancing deals, with many coming from bigger bank rivals.
“A significant chunk of those people were customers from one of the big banks who have started to realise the benefits of switching over to Heritage, Australia’s largest customer-owned  bank,” says Heritage Bank CEO John Minz.
“The simple fact is that we can often offer a better deal for our customers, because our focus is on giving them better value, not generating big profits to pay shareholders.”
Heritage Bank currently offers a standard rate variable home loan rate of 6.94%, which is 0.44 percentage points lower than the average of the big four banks.
“As a customer-owned bank, we pride ourselves on providing better interest rates, fairer fees and superior service whenever possible,” says Minz.
According to the latest APRA banking report, Heritage Bank has a mortgage book worth $4.1 billion – slightly up from the $4.08 billion in December 2011 – ranking it as the 13th biggest mortgage lender in Australia.
The lender has about $3 billion in household deposits.
Heritage Bank had the highest customer satisfaction rating in the country in the Roy Morgan Consumer Finance Satisfaction Survey as at December last year.
For more advice and information on refinancing your mortgage, <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage">download our free eBook</a>.
 
 
 
 
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Heritage Bank records 82% spike in inquiries as customers look outside the big four

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The cost of funding mortgage lending will again become a hot topic this week regardless of the decision the Reserve Bank makes about the cash rate.
Banks will argue that funding costs are rising, and more out-of-cycle rate decisions are expected. 
However, research compiled by Nomura analysts Victor German, Prue Rydstrand and Anthony Hoo has found that apart from a “brief period in January when banks technically wrote unprofitable business” mortgages remain an “attractive asset class for the majors, on a medium-term view”. 
These are the numbers you need to know:
<img src="/images/stories/20percent.gif">
The estimated return banks are currently making on their mortgage lending businesses
 
<hr>
 
<img src="/images/stories/30percent.gif">
The estimated return banks will make on their mortgage lending businesses if funding spreads normalise towards 2011 levels
 
<hr>
 
<img src="/images/stories/1percent.gif">
 
The estimated earnings boost the major banks receive for every five-basis-point increase in their standard variable rate. On the same five-basis-point increase regional banks receive a 3% earnings uplift and a 0.25% gross profit margin benefit.
 
<hr>
<img src="/images/stories/23percent.gif">
The estimated return Westpac is making on its mortgage lending business. The bank currently has the highest interest rate of the major banks at 7.46%.
 
<hr>
 
<img src="/images/stories/122m.gif">
How much extra revenue the Westpac earns by pushing up rates by five basis points
 
<hr>
 
<img src="/images/stories/22percent.gif">
The estimated return the Commonwealth Bank is making on its mortgage lending business. The bank currently has the second-highest interest rate of the major banks at 7.41%.
 
<hr>
 
<img src="/images/stories/126m.gif">
How much extra revenue the Commonwealth Bank earns by pushing up rates by five basis points
 
<hr>
 
<img src="/images/stories/20percent.gif">
The estimated return ANZ is making on its mortgage lending business. The bank currently has the third-highest interest rate of the major banks at 7.36%.
 
<hr>
 
<img src="/images/stories/68m.gif">
How much extra revenue the ANZ earns by pushing up rates by five basis points
 
<hr>
 
<img src="/images/stories/18percent.gif">
The estimated return NAB is making on its mortgage lending business. The bank currently has the lowest rate of the major banks at 7.31%.
 
<hr>
 
<img src="/images/stories/83m.gif">
How much extra revenue NAB earns by pushing up rates by five basis points
 
<hr>
 
<img src="/images/stories/70bps.gif">
 
The average discount the major banks are currently offering borrowers on mortgages over $500,000
 
 
Source: All numbers sourced from Nomura Equity Research
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The millions banks make from raising interest rates by 0.05% and 11 other numbers you need to know

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Demand for ongoing discount rate loans has fallen as lenders pull back on offering these special deals, according to February mortgage approval figures from Mortgage Choice. 
The percentage of ongoing discount rate loans fell from 46% to 42% of all new home loan approvals by Mortgage Choice brokers in February – the largest decrease since Mortgage Choice began reporting on this loan type in November 2010. 
An ongoing discount rate loans is one where the interest rate is discounted over the entire loan term, usually in exchange for an annual fee. 
Despite this drop, demand for this product still remains well above the 12-month average of 38%. 
Fixed-rate loan demand steadied in February, at 21% of all new home loan approvals, on par with January and the six-month average, but ahead of the 12-month average of 16%. 
Demand for basic variable loans rose to 17% of all approvals in February, from 14% in January while standard variable loan demand grew marginally to 16% from 15%. Line of credit loan popularity held steady at 3% and interest in introductory rate loans remained below 1%.
<img src="/images/stories/mcmarch5.png" width="470">
Source: Mortgage Choice 
Commenting on the February figures, Mortgage Choice spokeswoman Belinda Williamson says lenders kicked off 2012 with a “slew of loan discounts in a bid to compete for business in a subdued housing finance market”. 
“A number of these discounts were scaled back in February as lenders responded to shaky global economics and rising funding costs. 
“We were surprised to find that despite lenders raising their home loan interest rates independently of the Reserve Bank during February, and ongoing concern around the direction of interest rates, our borrower data did not show any increased interest in the repayment security offered by fixed-rate loans. 
“The fact that only one in five new loan customers opted for fixed-rate loans reflects that there is still a large volume of borrowers willing to ride the variable rate rollercoaster,” says Williamson.
 
 
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 Demand for discounted mortgages wanes as lenders pull offers: Mortgage Choice 

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More borrowers are choosing fixed loans and shopping around for the best refinancing deal as inquiries from buyers in Sydney and Melbourne show signs of picking up, according to McGrath Estate Agents boss John McGrath. 
In his latest market outlook for 2012, McGrath writes that the housing market remains in a state of flux due to global worries, recent job cuts and the out-of-cycle rate increases by the banks, but notes that “buyer enquiry is considerably higher, with more people attending opens in January and February”. 
He also highlights recent mortgage lending figures from mortgage broker AFG, which reported a 40% increase in national mortgage sales in January (up 14.5% in NSW) compared with the corresponding period last year, when natural disasters significantly impacted sales.
“The under-$1 million market is still the strongest segment, but there’s new interest up to $2 million and even beyond in Sydney and Melbourne where higher-end buyers weren’t around as much in 2011,” McGrath says.
“While it’s too early to tell whether this new enquiry will translate into sales, it’s logical to think that if enquiry is up and new mortgages are up then we will see a good start to the first quarter,” he says.
McGrath also notes the growing propensity for borrowers to choose fixed-rate loans and the increase in refinancing activity.
“Many borrowers are choosing the safety of two-year fixed loan rates as low as 5.8%. AFG says 18.6% of all new loans in January were fixed, more than double that of six months ago. Borrowers are increasingly shopping around with 50,000 people reportedly refinancing last quarter,” he says.
To make an informed refinancing decision, download Property Observer’s free eBook: <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage"> 12 tips for refinancing your mortgage</a>
According to McGrath, the banks’ decision to move independently of the RBA will cause some insecurity among borrowers.
“When the RBA drops rates, it’s a sign our economy needs a boost and in the past, home owners have been able to count on mortgage relief during these periods. But with the banks citing international pressures as the major determining factor for their home loan rates, consumers may no longer have the comfort of lower repayments when our economy slows,” he warns.
He also warns that unemployment remains a concern following jobs cuts by several big companies and could hinder a housing market recovery.
“While we’re not seeing rising unemployment on any major scale at the moment, if it were to blow out significantly from here it would likely have a damaging effect on property values and rents,” he says.
For investors looking for sound investment opportunities McGrath makes the observations:
<ul>
<li>Buying residential real estate within 10km of the CBD in Sydney is an excellent choice, with outer suburban areas not doing as well as city hubs and the coastal belt</li>
</ul>
<ul>
<li>Investors seeking higher rewards might look to south-east Queensland this year. We’re already seeing more activity on the Gold Coast, with investors coming from the local area, as well as Sydney, Brisbane and Melbourne</li>
</ul>
<ul>
<li>Markets like the Gold Coast and Sunshine Coast were significantly oversold during the GFC and depending on the level of mortgage sales over the next 12 months, should have very strong upside when they begin a real recovery either this year or in 2013. 
</li>
<li>We’re seeing a significant jump in enquiry in many of our markets, particularly Bowral, Ballina, Byron Bay, Wollongong, Thirroul, Newcastle, and the Gold Coast. </li>
</ul>
 
 
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More borrowers choosing safety of fixed-rate loans as buyer activity picks up: John McGrath

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People say there are only two things that are certain in life: death and taxes.
However, over the last 30 years of being in practice and managing clients affairs and having seen the problems people get themselves into when investing into property, we have come to the conclusion that there is a third absolute certainty.
It's absolutely certain that one’s circumstances will change as one goes through one's life cycle.
For example, you could be single today and married tomorrow. You could be without children today but you may have children tomorrow. You could be married today but divorced tomorrow. You could be working today but unemployed tomorrow. You could be working today but stop working tomorrow to be a stay-at-home parent. You could be an employee today and self-employed tomorrow. You could be employed today but retired tomorrow.
The different scenarios are enormous but what you can count on is that it's absolutely certain that your circumstances will change and this will affect your life.
So what has this got to do with property investing, and why are changes in one's circumstances a problem with your investments in property?
When your circumstances change it affects your tax and asset protection position.
For example, you could be working today and paying lots of income tax so you buy a negatively geared property and you buy that property in your name to get a big refund from the Tax Office. Then you fall pregnant and stop working to become a stay-at-home mum. All of a sudden your income levels change and you are no longer paying those big taxes. The result is that all that negative gearing, which was great whilst you were paying lots of tax, is now wasted and you wish you could pass the tax benefits over to your husband, who is still paying tax.
The problem is if you were to transfer the investment property to your husband’s name, you have to pay capital gains tax and stamp duty.
You may buy an investment property in the name of the person who earns the highest income and pays the most tax in order to get the biggest tax refund, but when the property is sold he will pay the highest capital gains tax because capital gains tax is charged at the person's marginal tax rate.
If he buys too many properties in his name than he will exhaust his land tax threshold and start paying a lot of land tax.
You could be an employee today with very little risk of litigation, but tomorrow you either start your own business or you get promoted to a manager of your business and are liable for any mistakes and exposed to litigation. All assets that are in your name are now exposed to predators, including the family home if it is in your name.
 
Some say that they have taken out insurance so therefore one is covered. Just ask the flood victims in Queensland who took out insurance. While there were no problems the insurance companies happily take your premiums, but wait till you try to make a claim and see the excuses they come up with to avoid paying your claim.
Recently a woman in Australia was sued by one of the music companies for illegally downloading songs on the internet. She was required to pay $100,000 per song and there were 16 songs she downloaded. That is a liability of $1.6 million plus legal costs. She was forced to sell her home, valued at $600,000, to repay this debt.
Naturally if her home was not in her name she would have avoided having to pay this debt as they would have dropped the case because they would have ended with up nothing anyway. Or if she had taken appropriate action prior to this problem occurring such as stripping the equity from her home she could have avoided losing her home. There are many ways to protect your assets, including equity shift, where the equity in your assets are stripped away.
You could purchase your new investment properties in a safe haven such as a property investors’ trust while stripping the equity in your home so there is zero equity.
Your personal circumstances will determine what strategy can be used.
Our most popular strategy involves the granting of a life interest in conjunction with your bank loan to protect the family home.
You have been buying properties in your name because you are the one paying the most tax and consequently you now have 10 properties in your name and you are about to retire to live off the rental income from your properties.
You have lost the tax breaks by not having half the properties in your spouse’s name to pick up the income tax threshold in her name. You are now paying twice the tax that you needed to.
It's important you get advice before you buy an investment property. Once you have exchanged contracts it's too late and the cost of fixing the problem can be very expensive. The stamp duty on the average property is around $25,000 plus all the legal costs to change the title to the correct name.
Ed Chan is a founding partner of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan and Naylor</a> accountants and a leading property tax specialist. He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
 
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Plan for tomorrow’s changes so you don’t get stung by the taxman

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AFG mortgage brokers broke in-house records in February, processing a 7,000 loans with a cumulative value $2.8 billion.
This was a 40% increase on the 5,365 loans totalling $2 billion processed in January 2011 and 28% higher than the $2.2 billion processed in February 2010.
The numbers are fairly astonishing given that mortgage lending grew by just 0.5% in January, according to official RBA figures, with annual growth at just over 5%, the <a target="_blank" href="/news">lowest figure in the 35 years of record keeping by the RBA</a>.
In a month when lenders decoupled from the RBA cash rate, announcing out-of-cycle rate rises, more new borrowers than ever before – 23.2% –chose fixed-rate loans, surpassing the previous high of 20.4% for fixed-rate loans recorded in October last year and triple the February 2011 fixed-rate percentage of 6.6%.
Click to enlarge
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In another first for AFG, the average new home loan in Australia reached $400,000 – up from $385,000 in January and $382,000 in February 2011.
Across the nation, NSW had the highest average new home loan – $471,000, followed by WA at $421,000 and Victoria at $409,000.
“The dynamics of the home loan market are changing in a number of ways. The very good news is that the past six months has seen a steady stream of First Home Buyers return, which is vital to the future of property markets,” says Mark Hewitt, general manager of sales and operations at AFG.
“As well as this, increasing competition among major and non-major lenders, and the decoupling of lender rate announcements from the RBA is making the mortgage market a more complex place.
“This is an environment in which brokers thrive, because borrowers know they really need to shop around for the best deal, and increasingly rely on us to do so. Concern about the future of rates is also the reason why record numbers of borrowers are choosing to fix rates."
During February, major lenders’ share of new AFG mortgage lending dropped from 79% to 76.1%.
Most of this change was because of an increasing trend among first home buyers to opt for non-major lenders – up from 27.4% in January to 29.1% in February.
 
 
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AFG mortgage brokers defy gloom with 40% jump in sales

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Mortgage lending remains in the doldrums, managing only growth of only 0.5% in January to be up 5.3% over the past year, according to new credit figures released by the RBA. 
The 5.3% annual growth in mortgages is the lowest level since the RBA began keeping records in August 1977. 
Owner-occupier housing credit rose by 0.5% in January to stand 5.7% higher than a year ago (also the lowest since records were kept dating back to January 1991) while investor housing finance lifted 0.4% in January to be up 4.7% over the year (a three-year low). 
The latest figures show that the non-bank sector (including building societies and credit unions) continue to lose ground to the banking sector in mortgage lending despite their best efforts to encourage borrowers to consider switching to an alternative smaller lender. 
The cumulative non-bank mortgage book shrunk by $500 million over January, from $156.6 billion to $156.1 billion. 
In comparison, the banking sector increased its cumulative mortgage book by $4.1 billion fr0m $1.682 trillion to $1.686 trillion, with the major banks accounting for $1.361 trillion (81%). 
The RBA figures show that personal credit fell by 0.2% over the month to be down 1.3% over the year just, close to the biggest decline in over two years. 
Business credit also fell by 0.2% in January after a 0.3% rise in December. Business credit is 1.4% higher than a year ago.
 
 
 
 
 
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Mortgage growth at lowest level in 35 years: RBA

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Nearly two-thirds (65%) of Australians will consider an alternative mortgage lender to the major banks this year, according to the 2012 Citi Fin-Q Survey.
The same percentage of respondents say there is not enough competition in mortgage lending.
The results were based on online interviews with 500 participants in Australia carried out in December 2011, during a time when variable interest rates were falling.
The survey also found a high level of negative sentiment about the mortgage market, with 70% saying the government needs to do more to help first-time buyers and 63% saying they don’t believe home ownership will be an option for the next generation of Australians.
Vibha Coburn, director of Citibank Mortgages, says the findings point to a trend of Australians looking at all their options when choosing a home loan.
“Despite the doom and gloom from our survey respondents, I believe the fact that Australians will look at mortgage providers outside the big four when choosing their home loan is a positive sign,” she says.
“Regardless of which home loan you choose, the best thing you can do is to conduct your own research and compare a range of products and lenders to find the most suitable solution for your needs.”
The survey also found that more than one in ten (11%) people have moved or downsized in the last 12 months to lower their costs and nearly two-thirds (62%) have indicated that home ownership is so expensive, they’ve adjusted their expectations about what their dream home might look like.
“At Citibank, we’re seeing a trend where customers might sacrifice the size of a property to live in a particular location or vice versa.
“This could mark a return to eras gone by when first-home buyers bought an entry-level property with the aim of upgrading to another larger property, or a property in another area,” Coburn says.
To learn more about refinancing your mortgage, <a href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage" target="_blank">download our free eBook</a>.
 
 
 
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Two-thirds of borrowers to look beyond big four banks for mortgages: Citibank 

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It has been put to me that Queensland buyers are deferring signing contracts until after the state election on the March 24, as they expect a change in government and the Liberal National Party has promised to reinstate the stamp duty concession on owner-resident property.
Here is my response.
Firstly, something seriously needs to be done about the taxes and charges on property transactions and development in this country. When factoring in both buyer and seller costs, Australia has the fourth highest property taxes in the world at just under 14% of the property’s value. Only Belgium, France and Greece are higher. Total property taxes average around 8% across the western world and are under 5% in the US, New Zealand and the UK.
If we are going to keep stamp duty on property sales, then at least we can make it uniform across the country. An investor paying the median price for a property in each state/territory can pay between $10,000 and $27,000 in stamp duties, depending on location. The same applies for owner residents and fluctuations for first-home buyers, which are the greatest of all, with first timers in Queensland, Western Australia and Northern Territory paying virtually nothing at all, while the transfer duty for first timers can be as high as $23,000 for an average-priced home in Melbourne and close to $21,000 in Canberra.
Secondly, despite the increase – about $8,000 on average – Queensland still has the cheapest stamp duties on established property across the country. See the two tables below.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/matufeb291.gif"><img src="/images/stories/matufeb291thumb.gif"></a>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/matufeb292.gif"><img src="/images/stories/matufeb292thumb.gif"></a>
Thirdly, the increase has not stopped the market much at all – some real estate agents say it has – but the real factor is the number of resales on the market across south-east Queensland and the amount of choice buyers have, and hence the amount of discounting vendors need to do to make a sale.
The timing of the increase – June 2011 – wasn’t great. It gave buyers more bargaining power – but again, its impact on sales volumes last year wasn’t that great. Sales are picking up now – been doing so from about late October last year – yet the higher stamp duties still apply. If the market was rising last year it wouldn’t have even been noticed. The proof is regional Queensland; it has had little to no impact in Townsville, Mackay, Gladstone, etc.
Yet, some buyers might be now deferring buying until after the election to avoid paying higher stamp duties. This illustrates how government intervention distorts the market – i.e. boosts, first-home buyers’ grants and concessions.
And finally, instead of reinstating the stamp duty concession for owner-residents buying established property in Queensland, the successful party should remove stamp duty from off-the-plan transactions. The impact – as shown in both Victoria and more recently New South Wales – should be immediate and very positive.
Our work for the Property Council of Australia late last year found that removing stamp duty from off-the-plan sales is likely to increase new housing starts across the state by between 10% and 15% per annum. Yes, every year!
In contrast to established homes, stamp duty on new dwellings across Queensland is high when compared to New South Wales and Victoria. See the table below.
Click to enlarge
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Queensland needs a competitive advantage.  The state’s competition is New South Wales and Victoria.  Dropping stamp duty for off-the-plan purchases will help get Queensland back to a more level playing field.
It is sad that such an important issue as this one is buried in the political charade.
I truly believe that governance is too important to be left in the hands of the public at large. One of the major reasons we get served up such political (and policy) nonsense is that it must appeal to the lowest common denominator. Instead of having leaders with gravitas and policy for the greater good, we have celebrities (and poor ones at that) and pork-barrelling.
Removing compulsory voting would be a step in the right direction.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
 
 
 
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