<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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 Australian Securities and Investments Commission has warned of unlicensed businesses offering home loans.
Ezy Savings and Caveat Loans ITstrong are not registered Australian companies, and they do not have Australian offices or valid business addresses. 
However, ASIC is aware these two unlicensed businesses are offering services for home loans for an upfront fee. All lenders, brokers and credit intermediaries must be licensed by ASIC in order to offer consumer credit products and services.
Subsequent to ASIC making inquiries in relation to the complaints it received about Ezy Savings and Caveat Loans ITstrong, their websites have disappeared.
But unsolicited telephone calls – known as “cold calls” – to consumers have continued. This involves consumers being subjected to high-pressure and often misleading or deceptive sales methods to persuade them to pay an advance fee towards obtaining a loan. When consumers pay the fee the loan was not provided and consumers cannot contact the business.
All contact with consumers is made by phone, fax or email. The phone numbers appearing on the companies' websites and business documents have been traced to an end-user in India. ASIC inquiries have established that money paid by consumers has been transferred overseas.
ASIC told Property Observer its inquiries were continuing so its didn't have a definitive number on consumers who have lost money.
It says the scam has been running Australia-wide – with its investigators having spoken with complainants from nearly all states It had not been able to establish how the callers know that the consumers wanted a loan.
“It may be, in some instances, that the consumers have simply succumbed to the high-pressure sales tactics,” an ASIC spokesperson says.
Consumers should check basic company and business details by consulting <a target="_blank" title="ASIC" href="https://www.asic.gov.au">ASIC’s website </a>, which contains a listing of all registered Australian companies and businesses.
ASIC’s <a target="_blank" title="Money Smart" href="https://www.moneysmart.gov.au">MoneySmart website</a> also provides information on how to avoid scams.</body></html>

jchancellor-FAypfDUnLy

ASIC issues warning over home loan scams

<html><body>
The Australian Securities and Investments Commission is reportedly investigating consumer advocacy group Choice and a company co-founded by Kevin Rudd's former press secretary over credit licence requirements and consumer protection laws.

Lachlan Harris, who previously worked as press secretary for Kevin Rudd, would not confirm with Property Observer this morning whether an investigation is taking place into his company One Big Switch, but said he is comfortable with the company's legal position.
"We are very comfortable with our legal position. There's been a lot of speculation within the industry, but we are comfortable with our legal position and we have a good team of legal advisors."
An ASIC spokesperson also told Property Observer this morning there would be no comment on the matter.
Choice spokesman Christopher Zinn was contacted this morning, but was unavailable prior to publication. He told the Australian Financial Review that "we are aware of the position of the new credit laws and we are adhering with them as a referrer".
The AFR has reported that One Big Switch, a business designed to sign up thousands of mortgage holders in order to leverage banks to get better deals, is being investigated. One Big Switch is working together with Choice.
The businesses hope to be funded through commissions after signatories receive a new mortgage product.
ASIC has reportedly made investigations into whether Choice needs to obtain a credit license, and whether One Big Switch is complying with credit laws.
It is understood that the Mortgage and Finance Association complained that One Big Switch is not conducting profiles on the thousands of mortgage holders it has already signed up – a requirement under the new laws to determine if a mortgage product is suitable for them.
Australian Bankers Association chief executive Steven Munchenberg has told the publication that Choice should review whether it should call itself a consumer advocacy group.
"They are saying commissions are bad when banks charge them but it's okay for them to recommend people use a service funded by commissions," he said.
This article originally appeared on <a target="_blank" title="SmartCompany" href="https://www.smartcompany.com.au/legal/20110817-asic-investigating-consumer-group-choice-company-run-by-ex-kevin-rudd-staffer">SmartCompany</a>
</body></html>

cknowlton-QnEa6ntUYP

ASIC investigating One Big Switch

<html><body>
Mortgage, insurance and credit card costs have risen by nearly double the rate of food, general housing bills, alcohol and tobacco over the past year, according to the ABS.
Mortgage payments and general insurance premiums have risen by 10.9% over the past year to June while food has increased by 5.8% and clothing by just 1.1%. Alcohol and tobacco costs rose 5.6%, and housing bills and education costs both increased by 5.8%.
Mortgage costs have outpaced insurance and credit card increases.
Overall the cost of living has increased by 4.5% over the past 12 months, easing up from 4.9% recorded in March.
For the June 2011 quarter, the cost of living increased by 0.9%.
According to the ABS, the inclusion of mortgage interest and consumer credit charges in the analytical living cost indexes have had a significant impact on employee households
Over the past 10 years living costs for households have risen by 40%.
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lschlesinger-FZcF9M3vE6

Mortgage bills and insurance pushing up cost of living

<html><body>
Westpac is considering turning its mortgage lending franchise RAMS into a separate, fully serviced banking operation.
The bank has reportedly undertaking a trial among Westpac staff using the RAMS software platform to raise savings deposits.
Westpac acquired RAMS in 2007 for $140 million following a disastrous float on the ASX on the eve of the GFC.
Should Westpac move forward with its decision, RAMS would be able to raise deposits through its 92-strong franchise stores.
One analyst told the Australian Financial Review RAMS was looking to diversify its revenue base in the wake of NAB growing its UBank business.
RAMS was founded by John Kinghorn during the peak of the non-bank lending boom in the late 1990s and grew into one of the strongest brands alongside Aussie and Wizard.
In the wake of the GFC, John Symond’s Aussie mortgage broking business bought Wizard, and the Commonwealth Bank acquired a third of Aussie.
News of RAMS becoming a challenger bank brand comes as mortgage competition among the major banks heats up, with ANZ the latest major bank to cut interest rates on its fixed-rate mortgage products.
One-third of lenders on the Mortgage Choice panel have reduced interest rates on some or all of their fixed term home loans in the past week, some more than once.
The average three-year fixed-term interest rate (the most popular type) is now at its lowest level since October 2009, the mortgage broker says.
According to the MFAA the ban on exit fees is encouraging borrowers to switch to lenders, but only among the major banks.
The major banks hold 92.3% of the home loan market compared with 89.2% before the ban was announced.</body></html>

RAMS could become full bank

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ASIC has released proposals for modifying the training requirements for credit representatives who provide credit assistance to consumers on home loans. 
The proposals are aimed at addressing mortgage broking industry concerns about the cost of complying with the licensing regime while offering adequate protection for consumers. 
Figures compiled by Market Intelligence Strategy Centre revealed that the number of mortgage broking firms operating in Australia has contracted by 26% in the year to March 2011, with compliance costs and commission cuts key factors in this contraction.
Currently, credit representatives who provide “mortgage broking services” are required to obtain a Certificate IV in finance and mortgage broking, but have until June 2014 obtain the qualification.
The course costs about $2,000 and takes a week to complete.
The consultation paper proposes two possible modifications:
<ul>
<li>refining the definition of ‘mortgage broking’ in the regulatory guide, so that it is limited to providing credit assistance in the form of ‘suggesting’, where credit is secured by real property; and/or 
</li>
<li>allowing those falling within the definition of mortgage broking who provide services on behalf of a particular credit provider to undertake a proportion of the Certificate IV in finance and mortgage broking.</li>
</ul>
Depending on the feedback received, ASIC proposes to implement one or both of these approaches.
‘The proposals aim to reduce licensees’ compliance burden, while still ensuring a high standard of training for those who do play a significant role in such decisions,” says ASIC commissioner Peter Boxall. “Our proposed changes to the training requirements should enable representatives of credit providers who are providing mortgage broking services to focus on units of training most relevant to their roles,” he says. 
Industry participants have until September 16 to comment on the proposals, with a new regulatory guide covering training and competencies to be released in October.
The Mortgage and Finance Association of Australia requires all members to hold a Certificate IV in order to join or maintain membership.
As of July 1, 2012 the minimum MFAA membership educational requirement will be a diploma of financial services (finance and mortgage broking management).
</body></html>

ASIC to ease mortgage broker requirements

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The number of borrowers taking out fixed-rate loans in June 2011 has increased to 3,301, more than double that of June 2010, according to ABS data.
 June was also the highest month-on-month increase since December 2010 when borrowers were spooked by the large variable rate increases of November 2010. In May 2011, borrowers took out 3,148 fixed rates loans. 
The biggest take up of fixed rate loans has occurred in WA (up 140%) and the ACT (up 139%) with all other states recording big increases.
The increase in fixed-rate demand comes as more lenders cut their fixed rates.
From August 12, the Commonwealth Bank’s reduced fixed rates kick in, including its three-year fixed rate dropping by 50 basis points to a market-leading 6.59%. 
The proportion of fixed-rate home loan applications submitted via comparison website RateCity has increased significantly in recent months, making up 23% of applications in July compared to 13% January. 
RateCity CEO Damian Smith says lenders have started competing aggressively in the fixed home loan market. 
“Most lenders have been dropping their fixed home loan rates steadily this year but we haven’t seen this level of fixed rate movement since the global financial crisis.
“We saw 17 lenders that have dropped some of their residential fixed home loan rates this week alone; the average three-year fixed rate has hit a new low of 7.20% from 7.42% in December 2010. 
Smith says that while fixed interest rate movements can be an indicator of the direction of the interest rate cycle, there are other explanations for the movement in rates. 
“Fixed rate movements are generally good predictors of what lenders think will happen to interest rates, so there’s obviously some possibility that variable rates might go down given the global turmoil. 
“But in addition to this, lenders are using attractive fixed rates to kick start a very slow home lending market. 
RateCity’s top three-year fixed and variable rates, as at August 11, 2011
<div align="center">
<table width="100%" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td nowrap width="47%">
Variable home loans
</td>
<td nowrap width="52%">
Three-year fixed home loans
</td>
</tr>
<tr>
<td width="47%">
Better Option Home Loans, Advantage Plus Variable &lt;$2m - 6.59%
</td>
<td width="52%">
ING Direct, Residential Fixed 3 years - 6.69%
</td>
</tr>
<tr>
<td width="47%">
Pacific Mortgage Group, Variable - 6.67%
</td>
<td width="52%">
MyRate, Residential Fixed 3 years - 6.70%
</td>
</tr>
<tr>
<td width="47%">
eMoney, Full Doc Variable Pro Pack
</td>
<td width="52%">
Commonwealth Bank, Residential Fixed 3 years - 6.74%
</td>
</tr>
<tr>
<td width="47%">
loans.com.au, Dream Loan Express - 6.69%
</td>
<td width="52%">
Citibank, Standard Fixed 3 years - 6.79%
</td>
</tr>
<tr>
<td width="47%">
Mortgageport Management, Essential - 6.69%
</td>
<td width="52%">
RAMS Home Loans, Standard 3 years fixed – 6.79%
</td>
</tr>
</tbody></table>
</div>
Note: Non-bonded institutions only, excludes introductory home loans and packages
Source: RateCity.com.au
</body></html>

Borrowers flock to fixed-rate mortgages amid uncertainty

<html><body>
The Commonwealth Bank has hiked its fixed rate home loans by up to 60 basis points, one of the biggest increases of the year.
The Commonwealth Bank said the move was to ensure it "continue[d] to meet our regulatory requirements".
Fixed rates for one- to five-year products will range from 6.59% to 6.99%.
The CBA’s three-year fixed rate loan – traditionally the most popular fixed-rate loan type – has been raised by 40 basis points from 6.99% to 6.59%
Ross McEwan, group executive of retail banking services at the Commonwealth Bank, says: “Many customers want certainty with their home loan repayments, and we are pleased to take a lead and offer customers that peace of mind.”
However, fixed-rate customers might not feel that pleased should the RBA take drastic action in September and cut interest rates, as some economists predict might happen if the global situation worsens.
The CBA move follows ANZ cutting its fixed rate mortgages by between five and 15 basis points on August 1 along with Newcastle Permanent cutting its fixed rates by up to 10 basis points.
In June, Mortgage Choice recorded demand for fixed rates rising to 13.3% of all loan approvals compared to a 12 month average of 10.45% and up from 12.3% in May.
</body></html>

Commonwealth Bank cuts fixed home loan rates

<html><body>
Government proposals to reduce stamp duty and consider alternative tax arrangements for housing have been welcomed by the Housing Industry Association, but the organisation says more needs to be down address the “chronic housing shortage”.
During the two-day October Forum, the state taxes session discussion will look at opportunities to replace stamp duties on property conveyances with reformed land taxes.
The personal tax session discussion will consider whether there are opportunities to improve efficiency in the housing market with alternate tax settings and policies.
According to the discussion paper, stamp duty on conveyances currently contributes almost a quarter (23%) of state revenues, while land taxes account for 11% of state revenues.
However, the government acknowledges that stamp duty can suppress the number of transactions in the housing market and reduce the effective supply of housing.
HIA managing director Shane Goodwin says an acknowledgment that stamp duties are a highly inefficient tax while also leaving room for substantial reform to this taxation element is one of the pleasing aspects of the discussion paper.
Other proposals the HIA has welcomed include a commitment not to change the treatment of the family home in income support means tests and a reiteration of the importance of improving the efficiency of housing supply.
However, the HIA says much more needs to be done to reduce the tax burden placed on new housing by all tiers of government.
Goodwin says independent economic modelling by the Centre for International Economics has found that the total taxation burden on a new home can be well over 40% of its purchase price.
"Worryingly, most of the taxation burden is borne by the home buyer. The Tax Forum could be used to reduce this large impost on homes and hence increase housing supply and improve affordability." "Housing is a true necessity of life, and the current restrictions to housing supply have created a large dwelling shortage that has driven escalating prices and climbing rents, and has placed unnecessary financial pressure on Australians already struggling to meet the rising costs of living," he says.
In the discussion paper, the government says that stamp duty applied to the transfer of property increases the cost of buying and selling a home and can have implications for individuals and the economy.
“Many factors influence decisions about where to live, but these transactional costs can make it more costly for Australians to move location to find work, can make it more costly to upsize or downsize a home as family circumstances change, and can penalise people who move for non-work reasons,” the paper says.
The HIA is one just two housing industry bodies – the other being the Property Council of Australia – that have received direct invitation to participate in the forum.
The forum, which will take place Parliament House in Canberra on October 4 and 5, will be a precursor to setting the federal government’s tax reform agenda.
</body></html>

Proposed housing tax reforms don't go far enough: HIA

<html><body>
The federal government’s upcoming tax summit will look at tax arrangements affecting the housing market with possible changes to state taxation arrangements including stamp duties.
Congestion taxes are also on the agenda in the discussion paper, which aims to inform public debate on continuing tax reform in the lead up to the October 4-5 tax forum.
The discussion paper outlines a range of ideas that were raised in the Australia’s Future Tax System Review presented by then Treasury boss Ken Henry to the Rudd government in late 2009.
The discussion paper includes a section on each of the six sessions that will be held at the forum: personal tax; transfer payments; business tax; state taxes; environmental and social taxes; and tax system governance.
Some 47 participants and 21 observers have been selected for direct invitation, with another 56 participants and five observers chosen by the leaders of invited organisations.
A further 52 participants and 20 observers will be selected through an expression of interest process.
</body></html>

Housing tax arrangements on October tax forum agenda

<html><body>
Dear Ken,  I've leveraged a purchase in a NSW investment property, do you have any tips for me at tax time?
Hello there, and well done on your property investment. As well as a good long-term future investment, there are many ways of generating benefits now, and tax time as you indicate is an excellent opportunity to legitimately realise this. Here are some suggestions I hope you find both practical and perhaps enlightening.
<ul>
<li>From the outset you should be able to get an accurate depreciation schedule from quantity surveyor.</li>
<li>If you are contemplating a renovation then you should get a “scrapping schedule”, which both identifies and puts a value on what you throw away. This is then written off in the year of the renovation, plus you can also depreciate the new work thereafter.</li>
<li>Remember to add up all borrowing costs such as bank fees, valuation, stamp duty and so on, as you can write this off over five years.</li>
<li>To minimise your accounting fees get your real-estate agent to pay for everything other than interest, as he or she will give you a monthly and annual statement. You then only need keep bank statements.</li>
<li>Land tax is a fairly muddy area. If you bought your investment property through a special trust then there is no threshold. If, however, you bought it through a company or your name, then $387,000 is the official threshold before land tax is due. Land tax is applied at 1.6% on the land value (not property value) above your applicable threshold and then 2% if land is valued at above $2.366 million. You will receive a bill in around February for the year before and will need to pay for that year in full.</li>
<li>Try and save yourself time and stress by having all relevant documents ready for your accountant at tax time, including a copy of your contract of sale, loan documents, settlement sheet and all documents showing interest and other costs paid. If you are really organised then you could try and put this into a spreadsheet for your accountant, which is why using an agent to pay for everything other than interest helps.</li>
<li>If you did repairs immediately or shortly after the purchase then you many need to discuss this with your accountant as these may legally need to be capitalised (i.e. added to cost of the property) and not expensed.</li>
<li>Remember that you can only claim expenses including interest if the property was available for rent. A property that is not occupied by tenants for any period could be problematic, once more your accountant or a quantity surveyor should be able to help.</li>
<li>If the property loan is in a different name than yours on the contract of sale then you will need to fix this for tax purposes to ensure interest deductions are applicable. This can be compounded if funds from equity in another property is used. All of this can be fixed via a loan agreement, but you need to discuss this with your accountant to get it right.</li>
<li>Finally, if a trust was used to buy the property make sure all documentation is correctly drawn up to conform with ATO rules and requirements to allow you to claim interest deductions. Not all trusts are the same and not all allow tax deductions on expenses including interest expenses.</li>
</ul>
There is a lot to take in here, which is why some people make property investment a very successful career. My number-one recommendation is if there is any question of doubt in your mind, then you should seek professional advice.
I wish you luck.
Ken
Ken Raiss is a certified accountant and director of <a target="_self" href="https://www.chan-naylor.com.au/" title="Chan &amp; Naylor " style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
</body></html>

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