<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<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;

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

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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DomaCom Fund unit holders have approved the appointment of new trustee, Melbourne Securities Corporation, a professional trustee firm with extensive experience in fintech platforms and both debt and equity capital structures
The new trustee will pave the way for delivery of internal leverage and crowdfunding of mortgage backed loans.
New gearing capability is expected to be the catalyst for next phase of growth in FUM Fractional property investment company DomaCom (ASX:DCL).
The company is poised to introduce leverage throughout its product suite following unitholder approval today to appoint Melbourne Securities Corporation as the new Trustee of the DomaCom Fund.
DomaCom CEO Arthur Naoumidis said it opens up a significant pool of investors for DomaCom, by enabling them to incorporate debt when investing in property.
“This the final checkpoint in the approval process for DomaCom to introduce a range of new products underpinned by the ability to introduce gearing," he said.
Melbourne Securities Corporation CEO Matthew Fletcher suggested debt is integral to purchasing property.
“This will make property investment much more tax efficient for advisers and their clients, as well as reducing the amount of equity required to raise for each project.
"Given how integral debt is to purchasing property, this creates a really compelling proposition for investors and enables them to achieve a tax efficient outcome when investing in property through DomaCom.
“MSC is pleased to receive the endorsement from DomaCom Fund unitholders and is looking forward to working with DomaCom and its stakeholders.
"Complementing our trustee services to the traditional fund market, we believe in supporting innovative products such as DomaCom Fund which utilises exciting new technology to provide new and alternative investment options.”
Further Updates
DomaCom would also like to provide the following key updates:
• The Federal Court hearing on the SMSF related party/sole purpose test implications of the DomaCom Fund was held in Melbourne on 27th-28th November and we are awaiting the outcome.
• As per the AGM presentation, DomaCom is actively investigating options to shore up its capital position and will update the market around mid-December. Options being looked at include equity, debt and hybrid structures with the fall back being to revert to core operating costs.
To read more from DomaCom <a href="https://www.domacom.com.au/" target="_blank">click here.</a>
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jrobinson-rf4aSBido9

DomaCom poised to crowdfund mortgage backed loans

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GUEST OBSERVER
For more than a year, we have seen the Reserve Bank of Australia leave the official cash rate on hold at 1.5%.
And while it made sense for the Board to leave the cash rate untouched until now given the level of economic uncertainty, things are starting to improve across the globe.
Indeed, over the last few months, we have seen significant improvements in both the domestic and global markets. Domestically, business conditions have shown signs of improvement, the unemployment rate has fallen to a low of 5.4%, and property price growth has started to stagnate across some markets in line with expectations. With that in mind, it is only fair to assume that next rate movement by the Reserve Bank of Australia could be up. When exactly rates will rise is very much undetermined. And while we don’t know when exactly the cash rate will rise, we know it won’t take off at breakneck speeds and home loan rates will continue to be lower for longer. Interestingly, our data shows the majority of Australians also believe interest rates will remain low for the foreseeable future and will only steadily increase over the next 12 months. When asked what they thought would happen to interest rates throughout 2018, 52.5% of Australians said interest rates would rise, albeit quite slowly. Meanwhile, a further 27.8% said they expect the RBA to leave the cash rate on hold for another 12 months at least. The reality is, the cash rate will not remain at this level forever. It’s not a question of if, but when, the Board decides the time is right to lift the official cash rate from its current historically low setting. Of course, as and when rates do rise, it is important for borrowers to remember that mortgage rates are still low by long term standards. Furthermore, Australia’s lenders remain hungry for business, which is good news for anyone still yet to achieve their home ownership goals.
JOHN FLAVELL is the chief executive officer of Mortgage Choice.
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Rate rises now inevitable - it’s just a question of when: John Flavell

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Recent Macquarie Group updates to clients indicate a continued decline in arrears.
Mortgage arrears figures charted by Macquarie Bank show RMBS arrears at near decade lows across all days in arrears categories.
<img src="https://2.bp.blogspot.com/-n2ndcZbNAVA/Wg7pDwx1ycI/AAAAAAAAnEA/lQGvGmAfsA8xOuOWByOVj2RTwZv0a351QCLcBGAs/s640/RMBS.jpg" width="640" height="332" data-original-height="667" data-original-width="1279">
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j.ballantyne1990-6AQqhLzZaK

Home loan arrears at near-decade low: Macquarie chart

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The NSW foreign investor land surcharge will increase to 2 percent per annum (from 0.75 percent per annum) with effect from 31 December 2017 for the 2018 land tax year.
The land tax surcharge was introduced in NSW with effect from 1 January 2017 to be imposed on owners of residential land who are 'foreign persons'.
The surcharge also extends to trusts that own residential land which have beneficiaries that are 'foreign persons'.
The land tax surcharge provisions are very broad and will catch discretionary trusts if the trust deed has a broad definition of beneficiaries, which is typical of most discretionary trust deeds.
Lawyers Meyer Vandenberg have warned "in this global age, given the wide class of beneficiaries," there is a high chance that a family member includes someone of international origins who is not an Australian or New Zealand citizen.
If any of these potential family members themselves meet the definition of 'foreign person' or invest in a company that meets the definition of a 'foreign person', and the trust owns residential land in NSW, then the trustee is liable for the land tax surcharge.
"Our federal politicians are having to re-look at their family origins (though to confirm their eligibility for holding office!)," Meyer Vandenberg told its clients.
"It is a timely reminder to also consider reviewing your discretionary trust deed and your family situation.
"If the trust owns residential land in NSW or is considering owning residential land in NSW in the near future, it is worthwhile getting advice."
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NSW foreign investor surcharge increased from December 31, 2017

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GUEST OBSERVER
The federal government announced a year ago that it would review the charges imposed on drivers for using our roads. That review hasn’t yet happened. They should get on with it, because reforming the way we charge road users will make our economy more productive and our cities more liveable. The longer we wait, the harder the path to those improvements becomes.
The problem with the present system is that there is only a weak link between what motorists pay and the costs they create when they use roads. The amount motorists pay for registration, for example, does not vary with the amount of time they spend on the road, let alone how long they’re stuck in traffic jams.
But before we get to the benefits of reforming how drivers pay for the costs of their road use, we need to debunk a big myth about road funding in Australia. It’s one that has become a major distraction in discussions about the need for change.
The myth of the fuel excise crisis
Vehicle technology is improving. Cars are becoming more fuel-efficient, and powering them with electricity is becoming more mainstream. At the same time, our commuting patterns are changing – over the past few years, the average distance Australians travel by car has fallen.
This is worrying the government, which collects fuel excise from us every time we fill the car with petrol. Urban Infrastructure Minister Paul Fletcher has specifically raised concerns that: "the revenue from fuel excise and car registration is unlikely to keep pace with the amount we spend as a nation on operating, maintaining and investing in roads."
The government’s key economic advisory body, the Productivity Commission, recently suggested reform of the fuel excise levy was “becoming more urgent”. But talk of a funding crisis is overblown.
First, the minister knows that the government doesn’t, and can’t, segregate revenue from road use to spend on roads. Federal spending on infrastructure is funded from general government revenue, the pool of funds received from the full range of federal taxes. As far as the government is concerned, road funding is just one of many expense programs claiming a piece of the budget pie.
As for revenue from the fuel excise, the decision in 2014 to reintroduce indexation will deliver much-needed relief for the government. The truth is, revenue did not fall much over the past decade and the levy now increases each year in line with inflation. The government may cry poor, but it can’t cry broke.
<img src="https://images.theconversation.com/files/196051/original/file-20171123-6013-158o9e3.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
So, do we still need that long-promised review?
Fuel excise revenue is not the problem the government would have you think it is. But its promised review remains important because reforming road-user charges would bring big benefits for Australia.
The disconnect between what motorists pay and the costs of their road use matters because traffic congestion is the main cost that cars create when they use existing roads. The regular wear and tear of our roads is overwhelmingly caused by trucks and other heavy vehicles; cars do negligible damage to paved roads.
An existing mechanism ensures that trucks are charged for their wear and tear on roads. What’s needed is an equivalent mechanism to ensure that cars are charged for the costs they create by adding to congestion.
As we describe in our report Stuck in traffic? Road congestion in Sydney and Melbourne, such a mechanism would mean charging people who drive at peak times on congested roads a small fee.
People who pay the charge would get a quicker and more reliable trip, because there would be fewer cars on the road at peak times. People who can travel outside of the peaks would not have to pay, because there would be no congestion charge when the roads are not congested. Because traffic flows would be spread more evenly across all hours of the day, our economy would become more efficient and our cities more liveable.
Critics of these decongestion schemes argue that charging motorists in this way is unfair. Why should low-income earners or those living on the fringes of our major cities, they argue, be hit with a new charge for something they can’t avoid when they go to work?
It’s a valid concern, but our report suggests it is entirely feasible to redesign motor vehicle charges in ways that actually make them fairer.
A key element of fairness is that any new congestion charge should be offset by reducing or removing vehicle registration charges. The goal should be to change how we pay for roads, not how much we pay. Developing such options is precisely what the long-promised review should do.
This reform would allow us to get the greatest value from the road network we already have, before we ask taxpayers and motorists to pay for constructing big and expensive new roads.
Time to get the show on the road
If we don’t make changes, congestion and delays on the roads in our biggest cities will only get worse. The government should provide terms of reference for the review before Christmas. These terms should acknowledge the importance of developing options for charging motorists for the congestion they cause.
<img src="https://counter.theconversation.com/content/87931/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In doing so, it will be important to resolve how the range of state-levied taxes on motorists, including existing and prospective toll roads, might fit within new charging arrangements. Only then should the review turn to the question of how many expensive new roads the states should be building.
Marion Terrill, Transport Program Director, Grattan Institute and Hugh Batrouney, Senior Associate, Grattan Institute.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/delay-in-changing-direction-on-how-we-tax-drivers-will-cost-us-all-87931" target="_blank">original article</a>.
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Delay in changing direction on how we tax drivers will cost us all: Grattan Institute

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A Clinton home has been listed by mortgagees at $185,000.
The house at <a href="https://www.realestate.com.au/property-house-qld-clinton-126803194" target="_blank">12 Resolute Street</a> has separate living and dining areas with tiled flooring throughout.
There are three bedrooms situated down the hallway away from the living area with ceiling fans and built ins.
The selling agent is Lynda Smith of Locations Estate Agents.
It last sold for $240,000 in 2005, according to CoreLogic RP Data.
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Clinton home listed by mortgagee at $185,000

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The AMP Bank is lifting its ban on refinancing investment property loans. "The lending market remains very competitive and AMP Bank continues to respond by adapting its lending practices where necessary to provide the best conditions for our customers and for managing our growth," a bank spokesman told Fairfax Media.
AMP Bank only has one per cent of property loans but the group is one of the biggest players in self-managed super funds, which invest heavily in residential and commercial property.
AMP Bank is also reducing deposits.
The bank said it had imposed the tougher lending conditions to meet strict lending guidelines by the Australian Prudential Regulation Authority.
It is decreasing deposits for self-managed super fund loans from 50 per cent to 30 per cent of the loan.
Minimum deposits for all other loans "with a predominant purpose for an investment property purchase or refinance" are dropped from 50 per cent to 20 per cent.
 All loan applicants will from today be asked to provide detailed answers to 14 questions about basic and discretionary spending on dozens of household items.
Information required about basic monthly living expenses includes spending on clothing, footwear, cosmetics, transport, groceries, and home and contents insurance.
Discretionary living expenses covers spending such as dining out, entertainment, holidays, pay TV, nannies and education, including outside school hours care, private school fees and books.
 
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AMP Bank decreases deposits required for SMSF property borrowers

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Heritage Bank today announced it has cut interest rates by up to 0.50% on a number of home loans across its portfolio. 
Heritage will now offer a variable home loan rate for owner occupiers as low as 3.89%.
The cuts are effective from today, Monday, 27 November. 
CEO Peter Lock said Heritage was "thrilled" to be able to offer highly competitive rates to prospective customers. 
“We’ve cut our rates to ensure we remain right in the sweet spot for competiveness in the home loan market, and to encourage even more people to enjoy the benefits of our people first approach.” 
Mr Lock said Heritage had built its loan volumes strongly over the last year and was keen to keep that momentum going. 
“We’ve also just been added to the Aussie home loan broker panel, which gives us access to an extra 1,000 brokers around the country, which will help with our national growth aspirations as well.”
 The interest rate cuts will be as follows for its Home Advantage variable owner-occupier (LVR &lt;=80%)          
$150,000 to $250,000 cut by 0.10% to 3.99% 
$250,000 to $700,000 cut by 0.10% to 3.94% 
$700,000 + cut by 0.10% to 3.89% 
With investment loans the rate cuts are:
Investment Discount Variable Principal &amp; Interest $150k+ (LVR&lt;=80%) cut by 0.30% to 4.19% 
Investment (Principal and Interest) 1 and 2-year Fixed Rate cut by 0.20% to 4.29% 
Investment (Interest Only) 1 and 2-year Fixed Rate cut by 0.40% to 4.49% 
Investment (Interest only) 3-year Fixed Rate cut by 0.50% to 4.49% 
Investment (Interest only) 5-year Fixed Rate cut by 0.50% to 4.89%  
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Heritage Bank cuts rates for investors and home buyers

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Bargaining a better mortgage rate is a skill mastered by only one in three Australian homeowners.
According to finder.com.au's survey of 1,286 homeowners 33% having been successful in negotiating a lower interest rate on their home loan. Forty three percent of homeowners have attempted to get a discount and of those who asked, 77% were successful. The research also shows almost half of homeowners (45%) didn’t know you could ask for a discount or simply didn’t bother to request one upon application.  Men (37%) were more likely than women (29%) to have asked for and received a rate discount. Bessie Hassan, money expert at finder.com.au, says mortgage holders need to embrace negotiation.  “Don’t settle for the advertised rate. Have the confidence to ask for a lower rate, and reap the reward that will come with making smaller mortgage repayments. “If you don’t ask, you don’t get,” she says. A discount of 0.2 percentage points could save you $20,000 over the course of the average mortgage. Generation X were the most likely to have received a discount (38%) followed by Generation Y (32%). Perhaps surprisingly, Baby Boomers were the least likely (28%) to secure a rate discount. 
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Baby boomers least likely to secure home loan discount

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A Mount Eliza estate agency and its director and officer in effective control have each been penalised $8,500 for contravening Victorian estate agent laws.
The Frankston Magistrates’ Court found that between June 2015 and March 2016, Helen Sly, 64, of Mount Eliza, knowingly authorised or permitted Bay Life Properties to:
<ul>
<li>cause a deficiency in its trust accounts, ranging from $500 to $58,000, by not having sufficient funds in the trust account at all times</li>
<li>on five occasions, fraudulently convert trust money to its business cheque account before it was entitled to the funds. </li>
<li>fail to keep full and accurate accounting records showing particulars of each transaction, and</li>
<li>fail to correctly balance accounts at the end of the month.</li>
</ul>
The five transfers totalled $14,500.
The Consumer Affairs Victoria department became aware of the offences after undertaking an inspection of the business following the receipt of a qualified trust account audit report.
It related to deposits for Mt Eliza and Mt Martha house sales between June 2015 and March 2016.
On each occasion she repaid the money back into the account a few days later.
Defence lawyer Bradley Newton said Sly was under financial pressures from her business and was deeply ashamed of her behaviour.
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