<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

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EXPERT OBSERVER
The property industry has warned the Federal Government that proposed tax changes will jeopardise the international education sector – Australia’s third largest export earner worth more than $30 billion.
The Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018 will be the subject of a Senate Inquiry to commence in November, 2018.
If passed, the Bill will result in offshore capital providers to the education sector facing a 100 per cent rise in their withholding tax rate, as the meaning of the words “residential dwelling asset” will include tertiary off campus student accommodation.
This last minute change differs from the exposure draft of the bill released earlier this year, which featured a tax exemption for assets comprising “commercial residential premises”, including student accommodation.
If passed, the bill will severely hurt the international student sector as accommodation for them will dry up quickly. Almost all of the investment in this sector is coming from overseas, yet the government wants to change the rules mid-stream and penalise them for investing in Australia.
Foreign investors have effectively created this property asset class, with 71,000 beds for local and international students have been supplied or being developed by them to date, supporting substantial local jobs in the design, construction and hospitality industry.
The Property Council of Australia has also made a submission to the Senate stating the higher tax rate would have “unintended consequences for the tertiary education sector, which relies on international capital to provide purpose-built student accommodation.
The proposed increase in the tax rate also did not provide any relief for investors who have committed to developments having entered into contracts to acquire sites, prior to September 20, 2018, when the amendments are dated to come into effect.
Not only will the proposed tax changes damage an important export earner for Australia, they will also inflate the rents in the broader rental market as students will be competing for a more limited supply of accommodation.
The sudden changes to the proposed laws will also affect Australia’s reputation with foreign investors who are seeking stability in the rules when they commit capital offshore.
According to the Department of Education and Training, there were 626,988 international students in Australia during July 2018 up 11% on last year.
Trevor Hardie is the CEO of Intergen Property Group, a company which represents overseas investors in student accommodation.
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jrobinson-rf4aSBido9

Proposed Federal tax changes to hit $30 billion international education sector

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NAB's low home loan rate has been queried as higher than portrayed.
Praised recently as the only big four bank to keep its variable interest rates stable in the recent out of cycle rate hikes, HashChing calculates NAB already had the highest variable rates of the big four.
HashChing's claim was based on the loan rates for each of the big four banks averaged across HashChing’s data from June, July, and August.
Westpac who were slammed for being the first to hike rates out of cycle actually had the lowest rates in the first three months of the fiscal year compared to the other big four banks.
HashChing is an online home loan marketplace.
<img src="https://www.urban.com.au/images/2018/10/17/HashChing%20Graph.JPG" alt="">
Averaged over June, July, and August, NAB had the most expensive interest rates at 3.94%, 22 basis points above Westpac’s 3.72%.
On a $500,000 home loan, this difference amounts to $24,000 over the life of a loan.
The data also showed that with new loans, Westpac was again the best choice based on rates alone.
The worst choice for consumers taking out a new loan was ANZ whose rates were at a full 26 basis points higher than Westpac, ANZ customers would spend an additional $27,000 over the life of a loan.
"It’s not just ironic, it’s audacious for NAB to proudly claim they were rebuilding trust with Australians when in fact they had the highest rates to begin," HashChing CEO Mandeep Sodhi said.
"It’s no wonder faith in the financial system has been eroded.“
"Homeowners are stressed. It’s becoming harder than ever for Australians to refinance their loans. The tightening lending restrictions, a cooling housing market, and out-of-cycle rate hikes have all had a significant impact.”
Mr Sodhi urged consumers to do their research and engage with a mortgage broker in order to navigate the rapidly changing market and get the best offer possible.
He added, “what’s a fraction of a percent worth? Tens of thousands of dollars. That’s why it’s so crucial that homeowners have reputable brokers in their corner. They do the hard work for them and help protect them from extensive losses.”
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j.ballantyne1990-6AQqhLzZaK

NAB have the most expensive home loan rates of the big four: HashChing

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Rams Financial Group featured prominently in home loan disputes dealt with by the Financial Ombudsman Service (FOS) during the 2017/18 financial year.
FOS received 43,684 disputes from consumers of financial services in the year to June, up 11% on the previous year.
There were 11,295 credit disputes, accounting for 43% of the disputes accepted into case management – an increase of 3% over the previous year. The main products in dispute were credit cards and home loans.
Rather than publish the raw number of disputes for each financial institution, FOS provides a measure called “chance of a dispute coming to FOS”, which shows the number of disputes relative to the size of the business.
For example in home financing, Rams Financial Group had the highest chance of a home loan dispute, with a rating of 66, meaning the likelihood of a Rams home loan customer taking a dispute to FOS is 66 in 100,000.
Other home lenders with relatively high dispute ratings were Bank of Queensland, at 45.3, Suncorp (39.6), ANZ (37.4), Bankwest (36.3) as well as Bendigo and Adelaide Bank (33.9).
Another indicator of user dissatisfaction with Rams is that almost a third of those who left reviews for Rams services gave them 1 star, with the most common complaints being a lack of communication, unexpected fees and rate hikes that were higher than advertised rates.
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Think before dealing with RAMS, BOQ, Suncorp and ANZ for home loans

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The RBA has suggested relatively few borrowers have been constrained by the tightening in lending standards that had reduced maximum loan sizes to date.
It was because most borrowers took out a loan that was substantially smaller than the maximum loan that lenders were prepared to offer.
"Three-quarters of borrowers had taken out loans that were less than 80 per cent of their maximum borrowing capacity based on serviceability considerations," the latest RBA minutes noted.
The board suggested the two quantitative policy measures that had been implemented in previous years – namely, the investor and interest-only benchmarks – were judged to have been effective in reducing the specific risks they targeted.
"The rate of growth in lending to investors had declined and remained well below 10 per cent per annum, and the share of interest-only loans in new housing lending had fallen from around 40 per cent to 15 per cent.
"The share of interest-only loans in the stock of outstanding loans had also declined, in large part because lenders had increased interest rates on existing interest-only loans."
Members discussed quantitative analysis undertaken by Reserve Bank staff, which showed that the investor benchmark imposed in 2014 had led to a change in the composition of new lending for housing.
"In particular, the investor benchmark had resulted in lending to investors growing more slowly but lending to owner-occupiers growing more quickly, with no discernible change in new housing lending in aggregate at the time.
"Additional analysis indicated that over the preceding few years, the investor benchmark had resulted in slower growth of housing prices in locations with a high share of investors, relative to locations with a low share of investors.
"While slower growth in housing prices had not been the objective of the policy measures, members noted that the analysis suggested around two-thirds of the difference in growth in housing prices between these regions in recent years could be attributed to the prudential measures."
To read the full minutes click here.
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jchancellor-FAypfDUnLy

RBA detects slower growth of housing prices in investor localities compared with owner occupier suburbs

Minutes of October 2018 Monetary Policy Meeting of the Reserve Bank Board

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New research by ING reveals 51% of all Aussie home loan holders fear they’ll never be able to pay off their home loan.
Some 40% are concerned they’ll carry their mortgage into retirement.
The research confirmed that 82% are paying down more than what’s required most years.
The research comes as ING launches Everyday Round Up for Home Loans, a digital tool that enables ING customers to round up the loose change from their card purchases to pay down their ING mortgage. 
Card purchases made through ING’s Orange Everyday account are rounded up to the nearest $1 or $5 and the extra amount is automatically shifted from the customer’s Orange Everyday account to pay down the mortgage. 
ING’s head of retail banking, Melanie Evans says the loose change in less than a year has helped over 160,000 customers collectively save $32 million.
ING estimates that customers who round up $50 each month to their 30 year owner occupier Mortgage Simplifier mortgage of $350,000 could shave 19 months or save $14,000 in interest by rounding up their loose change.
It assumes the customer puts down a 20% deposit and makes principal and interest repayments.
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Anxious home loan holders seek fast lane to pay off their mortgage early

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AMP is axing new mortgages to property investors with five or more properties.
It continues the lender crackdown on borrowers with multiple dwellings.
The Australian Financial Review reports AMP is also tightening scrutiny of all loan applications and banning new loans to investors whose property related income, which is typically rent, is more than half of their total declared income.
AMP is also decreasing the maximum amount of verified gross rental income it will accept for loan-servicing purposes from 80 to 70 per cent for properties in higher risk zones, such as inner city high-rise apartments.
The number of households with an investment property grew at the height of the property boom, especially in 2014-15-16, according to analysis by the Australian Taxation Office, although the numbers with a big portfolio does remain comparatively limited. 
Investors with big portfolios increased by about four per cent to about 45,000 with four properties and 20,000 with six properties in the most recent data.
It kicked off in the 2014-15 financial year the number of investors with five or more properties grew by 7.5 per cent – almost double the rate of growth over the previous nine years.
Of the 11 per cent of the adult population with investment properties in Australia, more than half of those are now owners of two or more properties, according to data included the RBA’s Financial Stability Review.
One in 10 investors own three or more properties, the central bank said, based on analysis of Australian Taxation Office data.
Professionals such as teachers, lawyers and accountants are the biggest group of investors by professional grouping – these groups account for 22 per cent of property investors in 2014-15.
Managers and professionals together – the two highest-paid groups – account for 37 per cent of all investors in property and have close to the highest level of negative gearing.
The most highly negatively geared group of workers is machinery drivers and operators – they account for just 3 per cent of property investors but 74 per cent of them are negatively geared.
The data showed a marked increase in the age of property investors, with the number of over-60s in the market almost doubling in the 10 years since 2005 to now account for about 22 per cent of all investors.
Property portfolios valued at $2 million in popular Sydney and Melbourne suburbs are generating weekly returns of less than $752 after deduction of expenses, according to recent analysis by chartered accountant and adviser William Buck.
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AMP stops new mortgages for investors with sizeable property portfolio

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For the tenth consecutive quarter, property experts identified tight credit as the biggest constraint on new housing development in the country, according to the latest NAB Residential Property Survey.
Moreover, they said it was causing more concern than at anytime since mid-2011.
Clearly, intensified lending scrutiny by banks and APRA-inspired tighter credit policies has played a key role.
Tight credit was also singled out as the biggest constraint for new housing development in all states - particularly in NSW where it was viewed as a ‘very significant’ constraint.
The overall level of concern over rising interest rates also grew. It was seen as being most problematic by property professionals in NSW and SA/NT and least problematic in VIC.
Property professionals overall were less concerned about all other factors, especially around lack of development sites and labour availability.
<img src="https://www.urban.com.au/images/2018/10/11/NAB%20QARP%201.JPG" alt="">
Access to credit remains the most ‘significant’ impediment for buyers of existing property as well according to surveyed property professionals.
It was also seen as a much bigger issue than in the last survey and more so than at any time since the Survey began. In fact the property experts surveyed in all states considered access to credit to be the most ‘significant’ issue in their state.
Rising interest rates replaced employment security as the second biggest issue for buyers of existing property in Australia - and in all states expect VIC (house price levels) and WA (employment security).
<img src="https://www.urban.com.au/images/2018/10/11/NAB%20QARP%202.JPG" alt="">
Heightened concern about interest rates is consistent with NAB’s view of the market.
The author's of the survey stated:
"We expect growth to remain above trend which should see the labour market tighten, wages growth lift and inflation more broadly begin to rise.
"As spare capacity is reduced, and inflationary pressures become more evident, the degree of accommodation in monetary policy will be gradually reduced, with the RBA starting a process of rates normalisation towards a more neutral setting."
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Constraint on credit a growing concern for new and established housing: NAB

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GUEST OBSERVATION
Might government benefits, and government employment, be a self sustaining machine – one in which those who benefit from government payments deliver the votes needed to ensure they continue?
It’s a proposition seriously put forward by researchers at the Centre for Independent Studies in a new paper entitled <a href="http://www.cis.org.au/publications/policy-papers/voting-for-a-living-a-shift-in-australian-%20politics-from-selling-policies-to-buying-votes/" target="_blank">Voting for a living: A shift in Australian politics from selling policies to buying votes?</a>
The paper argues “there are now so many beneficiaries of government largesse that they may constitute a political force strong enough to bias policy outcomes”.
It also says “when the number of public sector employees is added, there is a clear majority of voters benefiting more from government than they contribute.”
The authors reckon they’re on to something.
They use <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6537.0" target="_blank">Australian Bureau of Statistics data</a> to conclude that “the emergence of a large segment of the population that may in a sense ‘vote for a living’ could help explain much that has gone awry with public policy”.
Amplifying their argument in a column in the <a href="https://www.afr.com/opinion/columnists/when-buying-votes-replaces-selling-policies-%2020180912-h15aan" target="_blank">Australian Financial Review</a>, they ask whether the government’s decision to abandon raising the pension age was “an example of what may happen in a democracy when an increasing majority of its voters receive net benefits from government […] while only a diminishing minority is left to pick up the net tax burden?”
A new idea it is not
The argument has been around for a while.
In August 2016, <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/radionational/programs/drive/australias-new-divide,-the-taxed-and-%20taxed-not/7786370" target="_blank">then treasurer Scott Morrison</a> told us “more Australians are likely today to be net beneficiaries of the government than contributors – never paying more tax than they receive in government payments”.
He spoke of “a new divide”, between the taxed, and the taxed-nots.
The Heritage Foundation in the United States has argued there is a divide for a decade or more. And the argument goes back further, to the first half of the 19th Century and the American politician and political theorist <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/40751557?seq=1#metadata_info_tab_contents">John C, Calhoun</a>.
But it is based on a misunderstanding.
In every system, everywhere, there’s zero net tax
The ABS stats do indeed show that close to half of the population <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6537.0" target="_blank">receives more in cash benefits than it pays in income tax</a>.
If benefits in kind such as education and health care are included, and also indirect taxes such as the goods and services tax, the proportion climbs to 70-80%, at any point in time.
But it isn’t the same 70-80%, and it is unconnected to the size of government and the progressivity of the tax system.
To clear up some myths and misconceptions, the Tax and Transfer Policy Institute at the Crawford School at the ANU published <a href="https://taxpolicy.crawford.anu.edu.au/files/uploads/taxstudies_crawford_anu_edu_au/2016-%2011/zero_net_taxpayers_whiteford_nov_complete.pdf" target="_blank">a detailed policy brief</a> on the idea of “taxed-nots” in 2016.
Strikingly, it showed that a country’s share of “taxed-nots” was unrelated to its level of direct taxes and social security spending.
Australia’s 50% share of “taxed-nots” was similar to the share in the United States, and in New Zealand, and in Sweden – countries each of which have very different tax and spending systems.
The tax take has little to do with it
Korea and Denmark both had low shares of “taxed-nots”, at under 40%, but Denmark’s spending and tax was seven to eight times Korea’s.
The reason the share of “taxed-nots” has almost nothing to do with the level of spending or tax is that (as long as the budget is roughly balanced), by definition, the population on average has to pay zero net tax.
It makes no difference whether tax revenue is 46% of GDP as it is in Denmark or 26% of GDP as it is in Korea.
It is also not relevant how progressive the tax and social spending systems (that take less from low earners and give more to low earners) actually are.
Imagine a country in which everyone paid a flat poll tax, and the only spending was on goods with shared benefits, such as defence and public order.
In such a completely non-redistributive system, 100% of the population would be zero net taxpayers.
Zero net tax is hard to avoid
Far from being unusual or unsustainable, a situation in which a majority of taxpayers pay no net tax is close to unavoidable.
And the taxed and taxed-nots change places.
In Australia (as in all other high income countries) about 90% of households aged 65 or over receive more in public spending than they pay in tax. Most of them paid more tax than they received in public spending when they were younger.
The recent <a href="https://www.pc.gov.au/research/completed/rising-%20inequality" target="_blank">Productivity Commission inequality report</a> found more than one third of Australians spent at least one year in the richest 10% of the population between 2001 and 2016.
More than half of those who were in the richest 20% in 2001 where in the bottom half by 2016.
Today’s taxpayer is tomorrow’s taxed-not
Almost nobody stayed in the same income group for his or her entire working life.
Economic status changes when people finish study and get jobs, get promoted, lose jobs, raise families, marry, become sick, and become disabled or retire.
The concept of the “taxed-nots” or “net benefit recipients” sounds scientific, but isn’t a meaningful guide to anything very much.
This doesn’t mean we can’t work to improve our tax and spending systems.
But it does suggest if we want to improve them we need to be clear about how they work.<img src="https://counter.theconversation.com/content/103910/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Peter Whiteford, Professor, Crawford School of Public Policy, Australian National University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/relax-the-divide-between-the-taxed-and-the-taxed-nots-isnt-new-and-doesnt-buy-elections-103910" target="_blank">original article</a>.
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The divide between the taxed and the ‘taxed-nots’ isn’t new and doesn’t buy elections

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Mortgage delinquencies and defaults are more likely to occur in outer suburbs of Australian cities than inner-city areas, according to Moody's Investor Service.
They suggest that this is because of the lower average incomes and weaker credit characteristics in these suburbs.
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On average across Australian cities, mortgage delinquency rates are lowest in areas within five kilometres of the CBD and highest in areas 30-40 kilometres from CBDs (below).
Moody's suggest this trend is likely to continue into the foreseeable future with little changing in way of incomes and credit characteristics.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/10/Moodys1.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/Moodys1.jpg" alt="">
 
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In most Australian capital cities, delinquency rates are highest in areas the furthest away from the CBD (below).
Sydney's delinquency rates grow steadily the further away from the CBD the property is, however in Melbourne, Brisbane, Adelaide and Perth, delinquency rates in suburbs closest to the city centre are slightly higher than those a little further out.
This is due to the high share of mortgages on investment properties in areas closest to the city.
Within five kilometres of the Melbourne CBD, delinquent investment loans account for 57% of all mortgage delinquencies.
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Click here <a href="https://www.propertyobserver.com.au/images/2018/10/10/moodys2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/moodys2.jpg" alt="">
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Incomes and socioeconomic conditions are lower in outer suburbs, while credit characteristics are weaker.
Average incomes are lower in outer suburbs than in inner-city areas, while socioeconomic conditions are also typically weaker in outer areas. These factors increase the likelihood of mortgage delinquencies and defaults, particularly in the event of an economic downturn. 
In all Australian capital cities, average incomes decline with distance from the CBD (below), a fact that reflects the higher proportion of people employed in low-skilled jobs in these areas.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/10/Moodys3.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/Moodys3.jpg" alt="">
 
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