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Lenders are returned to the days of 100% home financing and above, but with the catch that parents with equity in their own homes have to act as guarantors.

A 100% loan called the Get Ahead Start Home Loan is being offered by SGE Credit Union and is said to be the first time in three years that a lender has prominently offered loans with no deposit required.
"The Get Ahead Start home loan option allows parents to use some of the equity in their own home to guarantee part of a home loan taken out by their children," explains SGE on its website.


"This gives the children the ability to borrow more, or borrow up to 100% of the value of the property plus stamp duty and other upfront costs. It can also help avoid the cost of mortgage insurance that applies to high LVR loans.

SGE Credit Union operates in NSW and Victoria with nine service centres in Bathurst, Lismore, Liverpool, Malabar, Melbourne, Mid-City, Newcastle, Parramatta and Wagga Wagga and has about 36,000 members.

Westpac-owned RAMS currently offers a feature called "fast track" on four of its home loans - the full feature home loan, the fixed rate home loan, the low rate home loan and the investor home loan - which allows borrowers to secure a loan up to 120% of the full purchase price plus upfront costs if if a guarantor or a parent of the applicant, "simply provides RAMS with a limited guarantee supported by a registered mortgageover their property, for the amount you need to borrow over 80% of the property value".
This also removes the requirement that borrowers who don't have a 20% take out lenders mortgage insurance (LMI), which according to RAM can be in excess of $10,000 on a $350,000 property, where the borrower only has a 5% desposit.
No deposit loans were prominently promoted and widely-available during the boom years of the early 2000s but the advertising of these products disappeared following the GFC as lenders shored up their lending policies.
Mortgage brokers tell Property Observer that there are many lenders that will offer a 100% home loan under certain circumstances including ANZ, NAB, St George and Suncorp.
"Each lender has strict guidelines around who can guarantee the loan," says Don Nicolussi of Homeloan Warehouse.
He says some lenders will allow non-family members to guarantee a loan such as a close family friend rather than a parent
"This would be considered on a case by case basis and only for strong applicants," he says.
"The guarantor is making a big commitment and for this reason the lenders will require that they obtain independent legal advice.
"Anyone (a broker) recommending such a loan needs to also consider whether it is even appropriate to begin with.That is, if the borrower does not have a deposit it would first be important to look at their financial habits to ensure that recommending such a long term commitment is the right thing for them," he says.
However, he says many people applying for a loan may simply be paying down other debts - HECS, car loans - when the opportunity to purchase a home comes up.
"That is when this type of product makes sense. It allows someone with good income and the support of their family (or networks) to aspire to home ownership. With rents rising and interest rates falling in some cases the repayments will be less than the rent they are already paying,"  Nicolussi says.
According to mortgage comparison website RateCity.com.au, 70% of home loans now offer 95% or more of the purchase price.


Consumer group Choice warns that no deposit loans can put borrowers at risk of greater financial stress.

It also warns of higher interest rates and the need to pay mortgage insurance.

"While these loans enable you to buy a house sooner, you need to take the cost of mortgage insurance into account. And with a loan for more than the value of the property, it’s crucial to make extra repayments to get some equity as quickly as you can," says Choice. "Saving as much as you can before buying will lower the amount of mortgage insurance, or remove it altogether if you can save a deposit of 20% or more of the property’s value. It’ll also give you a wider variety of lenders and loans to choose from — and helps you get used to the discipline needed when you have a mortgage."
Another former broker, Phil Richards, now with Peaple's Choice Credit Union, says 100% home loans have always been available.
"From a lenders perspective it is very safe. Even with a limited guarantee the risks can be high for the parents especially if they are near retirement and the kids default on the loan. Many of the lenders offer the products although some of the policies are slightly different," he says.
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lschlesinger-FZcF9M3vE6

Lenders return to 100% plus mortgages but with parental guarantor requirement

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New Stockland boss Mark Steinert received a favourable welcome from the stock market to his first day in the office with its share price rising 5 cents to $3.53 yesterday, in a market that went up 0.2%.
Steinert, <a target="_blank" href="https://www.propertyobserver.com.au/residential/stockland-confirms-ubs-banker-mark-steinert-as-new-managing-director/2012112858171">a former UBS investment banker</a>, replaced long-serving managing director and CEO Matthew Quinn to head up Australia’s largest residential developer.
The stock gain will no doubt please Quinn who walked away with 2.25 million shares worth around $7.8 million at yesterday’s closing price  - and worth little bit more today with the share price up to $3.56 by mid-morning.
When Quinn announced his decision to step down on July 25, the Stockland share price was $3.24. It rose 3 cents to $3.43 when Steinert was appointed on November 29.
Challenges for Steinert will include restoring market confidence in Stockland after it suffered three earnings downgrades last year and trying to turn around its struggling Melbourne residential business – Stockland is heavily exposed in Melbourne with eight residential communities in development on the fringes of Melbourne.
No dramatic changes are expected to be made by Steinert in the first six months of his tenure, but he is expected to re-appraise Quinn’s '3Rs' strategy, with its focus on residential, retail and retirement developments.
Steinert told analysts at a conference call late last year following his appointment, that he intends to undertake “deep analysis” before making any changes to strategy.
According to the Australian Financial Review, another thorn in Stockland’s side is its 15% investment in the struggling FKP Property Group.
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Stockland shares trade up as Mark Steinert completes first day in charge

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GPT is not expected to table a better offer for Australand until after it releases its annual results in February.
In mid-December a $3 billion non-binding bid by GPT to acquire Australand's commercial and industrial property businesses – but not its residential property business – was <a href="https://www.propertyobserver.com.au/australian-capital-territory/australand-rejects-gpt-offer/2012121358470" target="_blank">rejected by the Australand board</a> as being too low.
In addition, the Australand board is understood to favour a bid for the entire business rather than just cherry-pick its more attractive divisions, reported the Australian Financial Review.
There are also reports suggesting GPT and Mirvac –<a href="/news"> also in the running to bid for Australand</a> – may join forces and make a joint bid for the residential developer.
The impetus to acquire Australand has been given an added boost with news last week that its biggest shareholder, Singapore-based CapitaLand, was reviewing its 59% holding in Australand.
Mirvac has not tabled an offer of any sort for Australand.
An article in the AFR claimed that Mirvac, under the new leadership of Susan Lloyd-Hurwitz, was preparing a proposal to merge with its smaller rival.
Mirvac is said to offer a better fit with Australand, given its stronger residential focus while GPT is primarily a developer and manager of retail, industrial and office assets.
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No formal GPT bid for Australand possibly until February but joint bid with Mirvac also mooted

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Mortgage brokers, banks and other lenders will have the opportunity to comment on the impact of the Commonwealth Bank’s proposed acquisition of John Symond’s Aussie Home Loans on competition in the industry as part of an ACCC review of the deal.
Industry participants have until January 31 to provide their thoughts and inputs with the ACCC to <a href="https://www.propertyobserver.com.au/https://www.accc.gov.au/content/index.phtml/itemId/1095020/fromItemId/750991" target="_blank">announce its findings on March 7</a>.
The Competition and Consumer Act prohibits mergers and acquisitions that “substantially lessen competition in a market, or are likely to do so”.
Of chief interest and concern for the ACCC will be the impact of the acquisition on the Commonwealth Bank’s ability to sell a greater number of its home loans through Aussie’s mortgage brokers and retail shops and its ability to limit the number of loans that its competitors (particularly other major banks) can distribute via Aussie brokers.
Aussie distributes loans through 18 different lenders and while both John Symond and the Commonwealth Bank have stressed that Aussie will continue to operate as a standalone business, mortgage broking competitors and lenders may hold a different view.
Specifically, the ACCC is seeking to hear whether the “proposed acquisition will result in CBA having the ability and incentive to use its position to originate a larger share of home loans through AHL’s mortgage broker platforms post-acquisition and whether they consider the proposed acquisition will result in “CBA having the ability and incentive to foreclose its banking competitors from accessing its mortgage distribution services”.
The competition watchdog is also seeking comment on the impact the acquisition will have on Aussie’s ability to provide effective competition in the market, what impact it will have on the prices and profit margins it earns
The deal would see the <a href="/news">Commonwealth Bank up its stake in Aussie from the current 33% to 80%</a> with the option to acquire the remaining 20% further down the track.
The Commonwealth Bank is Australia’s largest home loan lender with an owner-occupier mortgage book of around $215 billion.
Apart from its current one-third ownership of Aussie, the Commonwealth Bank also owns mortgage broker Finconnect, which provides services mainly to accounting firms and other professionals.
Aussie operates one of the largest mortgage broking networks in Australia with 363 brokers across 139 retail store fronts as well as 384 mobile brokers that operate as independent contractors under the Aussie brand.
In addition, Aussie owns National Mortgage Brokers (nMB) an aggregator with a 165 mortgage brokers operating nationally.
Given the Commonwealth Bank’s ownership of Finconnect, the ACCC also intends to examine the “market for the supply mortgage distribution services, which includes providing mortgage brokers with access to a panel of lenders, technology and administrative support, education and training and marketing assistance”.
It also seeking comment “on the degree of competition that currently exists between  Finconnect and Aussie in the provision of mortgage distribution services”.
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Commonwealth Bank deal to buy Aussie Home Loans to face industry scrutiny

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The Reserve Bank is only likely to cut the cash rate once more this year with a falling dollar and the government’s decision to abandon its Budget surplus commitment the key reasons, says Bank of America Merrill Lynch (BAML) chief economist Saul Eslake.
“We're only forecasting one more cut in the RBA cash rate because our currency strategists are forecasting that the Australian dollar will fall to $US0.96 by year-end,” says Eslake, who was chief economist at ANZ for 14 years.
A falling dollar, he says, will alleviate, “at least some extent one of the principal sources of pressure for lower rates during 2012”.
Furthermore, he says there won’t be as much pressure on the RBA to cut rates because the government has abandoned its commitment to a budget surplus in 2012-13 “which means that there won't be the same need to offset contractionary fiscal policy decisions with lower interest rates as there would have been had the government stuck by its commitment”.
Eslake says there is some “upside risk” to the BAML strategists' out-of-consensus call on the Australian dollar and “hence some risk that rates could fall by more than the above forecast”. “That risk aside, if the RBA cuts its cash rate by 25 basis points we would expect the major banks to cut their mortgage rates by an average of 20 basis points," he says.
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Falling dollar and end to budget surprlus means just one more rate cut: Saul Eslake

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In the current sluggish market, a decision to change estate agents could result in more vendors receiving legal letters from previous agents seeking thousands of dollars in commission payments.
Vendors have been warned that they must terminate a contract they have with one agent before signing a contract with another agent – any overlap could result in a double commission claim.
Even if contracts don't overlap, vendors could face a claim if a previous agent they engaged can prove (as stated on the Real Estate Institute of NSW website) that "there is a connection between the actions of the agent and the sale of the property".
This has been highlighted in a case involving a Sydney vendor Joanne Ryan, who offered her 1890s terrace house for sale on <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/164908" target="_blank">Carlisle Street in Leichhardt </a>on two separate occasions using different estate agents for each campaign.
<img alt="carlisle" height="313" width="470" src="/images/stories/2013/01/carlisle.jpg">
The first campaign was handled by Robert Clarke of Belle Property <a target="_blank" href="/news">Annandale</a>, who failed to sell the property (pictured above and below) when it was listed with $1.8 million-plus hopes for May 2012 expressions of interest.
<img alt="carlisle2" height="313" width="470" src="/images/stories/2013/01/carlisle2.jpg">
The house had high ornate ceilings, polished floors and marble fireplaces, plus an oasis-like rear garden with swimming pool.
Ryan then appointed a McGrath agent, who sold her home on November 17 at auction, after which she received a letter from Belle Property’s lawyers demanding a commission payment of $31,383.
The legal letter, as reported by the News Ltd, informed Ryan she had an exclusive agency agreement with Belle Property, meaning “you have to pay the agent commission”.
The eventual buyer had viewed the property while the listing was held by Belle, but had not made any previous offers until becoming the successful bidder at November auction at around $1,585,000.
Renovated in 2002, the three-bedroom terrace on a 461 square metres last traded for $512,500 in 1996.
While logic would dictate that vendors should only pay commission once, the REINSW advises estate agents who feel they are legally entitled to commission to always seek payment from the vendor.
“Remember that a commission dispute is between you and the vendor, not between you and Agent 2 or the purchaser – so if you believe you have a valid and substantiated claim, you will need to sue the vendor,” says the REINSW on its '<a href="https://www.reinsw.com.au/Effective-Cause-of-Sale-JLMar2011/default.aspx" target="_blank">effective cause of sale' page</a>.
The REINSW also advises its agents to seek legal advice before preparing and lodging a claim and reminds agents that "everyone loses listings now and then".
“It is sometimes better to cut your losses and concentrate on your next listing than pursue a claim for commission that you may never win,” says the REINSW.
According to the REINSW, it all comes down to who was the effective cause of the sale.  "The concept is quite simple – an agent must be able to show that there is a connection between the actions of the agent and the sale of the property," says the REINSW.
For an agent to be entitled to commission, the REINSW says the following must exist:
<ul>
<li>an enforceable contract between the agent and the vendor (e.g. a valid agency agreement);</li>
<li>an enforceable contract for the sale of land;</li>
<li>an introduction of the eventual purchaser by the agent;</li>
<li>a sale; and</li>
<li>a causal link between the actions of the agent claiming commission and the ultimate sale.</li>
</ul>
According to REINSW chief executive Tim McKibbin, “effective cause of sale” remains an issue for the industry.
“This is an area that causes us endless grief and it happens more often in a tight market,” he says.
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Changing real estate agents? Beware of double sales commission risk

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Mortgage lender RAMS is offering all its home loans until the end of January with no application fee at a time when it says many Australians are reviewing their finances and when first-home buyers are more proactive about considering entering home ownership.
The offer will save borrowers $595 on fees, including the valuation fee.
RAMS has variable rate home loans starting from 5.54% and a three-year fixed rate home loan starting from 5.39%.
In order to be eligible for this promotion, home loan applications need to be received by RAMS by 5 pm on January 31, 2013.
The RAMS campaign is similar to successful marketing campaigns it has run in the past few years.
Currently, some lenders charge in excess of $800 in mortgage application fees.
Westpac, which owns RAMS, charges total mortgage fees of $600.
“We find the new year is a popular time for Australians to review their finances and look at ways they can save money,” says RAMS spokesperson Melanie Monico.
“Many people also take more proactive steps towards their goal of moving into a home of their dreams in the new year.
 “Often people are on holidays and have more time to research properties and start their property search."
Details of the offer can be found in the new <a target="_blank" href="https://www.youtube.com/watch?v=O0gvh8r1NDU">RAMS advertising campaign</a>.
RAMS is particularly focused on <a target="_blank" href="https://www.rams.com.au/home-loans/buying-your-first-home/">providing loans to first-home buyers.</a>
Housing figures released by the ABS yesterday show that first-home buyer numbers fell from 18.7% of all mortgage commitments in October to 15.8% in November.
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RAMS waives application fee for new home loan borrowers

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The number of owner occupier housing loans taken out in November fell 0.5% to 46,199 driven by a drop in first-home buyers taking out mortgages, according to the latest seasonally-adjusted ABS statistics.
This was below market expectations of a 0.5% rise and despite the cash rate falling from 3.5% to 3.25% on October 3 - an indication that lower rates are not encouraging borrowers to take on new debt.
The biggest fall was recorded in South Australia where the number of owner occupier loan commitments fell by 6% followed by Tasmania (-3.3%), NSW (-2.7%) and Queensland (-1%).
Gains were led by the ACT (+3.5%), followed by the Northern Territory (2.3%), Western Australia (1.1%) and Victoria (0.9%).
The national fall in November follows four consecutive months of growth in the number of owner-occupier mortgage commitments.
In October there was a 0.1% rise in the number of owner-occupier home loan commitments, following a  0.9% rise in September and a 1.8% rise August.
Westpac points that excluding refinancing, new lending declined by 1.3% in the month with the headline result "driven by a sharp pull back in the first-home buyer (FHB) market.
In original terms, the number of first-home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 15.8% in November 2012 from 18.7% in October 2012.
"We estimate that lending to FHBs fell 16.7% in November, following a 2.9% fall in October. Lending to FHBs jumped 19% in the six months to September," says Westpac.
"Beyond these timing distortions, the FHB market is expected to advance in response to improved housing affordability associated with lower interest rates.
Westpac also notes that the upgrader market improved in November, with lending up 4.5% in the month and 10.4% higher over the four months to November.
And while there was a 3.3% in lending to investors in November. over the most recent three months lending to this sector is up 11.7%.
The number of loans to buy or build new homes both fell over November, indicating continued weakness in this sector.
Loans for the purchase of new dwellings fell a noticeable 10.3% over November to 2,380 while the number of construction loans fell 1.8% to 4,809.
In value terms, the aggregate value of owner occupier mortgages taken out in November rose by 0.6% to $13.94 billion.
The value of fixed interest investment house loans fell by 3.3% over November to $7.52 billion with taking the value of owner occupier and investment lending down 0.8% for the month to $21.46 billion.
In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 0.8%.
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Mortgage lending falls in November despite October rate cut: ABS

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HSBC Australia chief economist Paul Bloxham has taken a lonely stand against the economists' cabal by tipping the cash rate to rise to 3.25% by year-end.
Just as Westpac’s Bill Evans went out on his own in July 2011 tipping the RBA to start cutting rates when all other economists thought the opposite, Bloxham is the only bank economist who expects a higher cash rate (and hence higher mortgage rates) by the end of the year.
Evans' bold mid-2011 forecast was spot on the money (the RBA began cutting rates in November 2011) – only time will tell if Bloxham’s more bullish economic outlook is as accurate.
Bloxham’s view stands in stark contrast to his distinctly bearish rivals –<a target="_blank" href="/news"> led by the University of Western Sydney's Steve Keen</a> - who says the cash rate could fall to as low as 2% by the end of the year and who last year was spot on with his forecast that the cash rate would fall to 3% by the end of 2013.
Keen is not the only economist tipping a series of rate cuts in 2013, with both Macquarie’s Richard Gibbs and ANZ's Ivan Colhoun also tipping a year-end cash rate of 2%, alongside Stephen Anthony of consultants Macroeconomics.
Just last week <a target="_blank" href="/news">NAB chief economist Alan Oster </a>announced the bank had readjusted its rates outlook to tip three rate cuts over 2013 (in February or March, May and then August), having previously only forecast one rate cut this year.
Oster said the main reason for this change was the weaker economic outlook, with NAB now forecasting GDP growth of just 2%  (compared with earlier forecasts of 2.5%) and unemployment forecast to rise to 5.75%.
Bloxham, who joined HSBC in September 2010 after 12 years as an economic analyst at the RBA, tells Property Observer his expectation of the cash rate rising to 3.25% (most likely in the fourth quarter of the year) is made “with a recovery in Chinese growth in mind in 2013”.
“[The Chinese economy] has already lifting from 7.8% to 8.6% growth, which should be supportive to the international environment and for the commodities sector in Australia,” says Bloxham.
Bloxham also says earlier cash rate cuts are starting to come through and “provide support” to sectors like the housing market (he forecasts single-digit growth in house prices in 2013) and retailing.
And while he expects the Australian economy to grow close to trend this year, he is says the “mining story” is not yet over.
Bloxham acknowledges that other economists have a very different outlook and that it is “very hard to call rates in advance”.
“We are probably more bullish on the China story and in terms of monetary policy, still believe that interest rates still have an effect on the economy,” he says.
"At this stage there are only modest signs that loosened monetary policy is supporting the Australian economy. But with the RBA's cash rate already at a record low (3%) and mortgage rates around 100 basis points below average, we expect that there is more support from the current policy settings yet to flow through to the economy," he says in his latest economic note.
"Keep in mind that the last 50 basis points of cuts has only occurred in the past three months and that monetary policy acts with a lag."
While Bloxham is the only economist tipping a rate rise, he is not the only one with an optimistic outlook with ANZ senior economist Justin Fabo telling the Australian Financial Review his gut feeling is that "things might be better this time".
However, this has caused ANZ to only push back its next rate cut from February to March – the bank still its expects the cash rate to fall.
 
<hr class="system-pagebreak">
 
Property bear Steve Keen expects demand conditions to remain subdued in Australia this year, sticking to his “heretical” argument that Australian mortgage debt has remained in excess of 85% of GDP while in the US, mortgage debt has fallen from 85% to about 65%.
“So they copped pain whereas we didn't; but the catch now is that, for our households to start borrowing again and stimulating demand, they'd need to take on even more debt than they ever have before.
“Since I don't see that happening, I expect demand conditions to remain subdued in Australia this year- whereas in the USA (if it weren't for the government's insane focus on reducing its own debt (a repeat of the debacle of 1937) households could borrow without pushing into utterly new debt-level territory.
“This subdued growth will mean that inflation remains below the RBA's target band, and the economy is more sluggish than they expect.
Keen says the RBA will respond by cutting rates to try to revive the economy, which he says will stop households deleveraging, but “won't inspire them to take on more debt”. 
“So our rates will slowly deflate towards parity with the rest of the developed world.”
Keen expects the average standard variable mortgage rate to fall to about 5.5% - 5.75% with banks continuing to “claw back some of the margin they gave away in the mad scramble for market share when the mortgage boom was on”.
“But not quite back to the 4% that used to rule when lending was less bubble driven,” he says.
As for Bill Evans, he is currently tipping just one rate cut in 2013.
According to comparison website ratecity.com.au, the average standard variable rate as of January 7 2013 was 5.98% compared with 7.31% in October 2011, before the RBA began cutting the cash rate.
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HSBC’s Paul Bloxham the lone rider tipping interest rates to rise 2013 

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Last week, NAB adjusted its interest rate forecast from one cash rate cut in 2013 to <a target="_blank" href="/news">three rate cuts over the course of the year</a>, with the first one expected on February 5.
As the countdown begins to the first RBA monetary policy meeting of the year, the question borrowers and first-home buyers will be asking is whether banks will continue to pass on only about 80% of official rate reductions of if they will be more generous.
There’s even been talk of the big four banks cutting their mortgage rates outside of RBA decisions as the competition for mortgages in a slow growth market heats up.
The major banks account for around 80% of all mortgage lending in Australia (three out of every four loans), and their loan books and deposit balances dwarf those of their lending rivals.
According to the most recent APRA banking stats (November 2012), the Commonwealth Bank has an owner-occupier mortgage book worth $215 billion, followed by Westpac ($168 billion), NAB ($136 billion) and ANZ ($125 billion).
Putting this into context, the fifth biggest mortgage lender is ING Direct, with an owner-occupier loan book worth $28 billion.
These are the current lowest fixed and variable rate offerings of the major banks:
(Where the advertised rate is the same, the loan with the lower comparison rate is ranked higher.)
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
CBA
</td>
<td width="124" valign="top">
One year guaranteed rate
</td>
<td width="97" valign="top">
5.34%
</td>
<td width="116" valign="top">
6.43%
</td>
</tr>
<tr>
<td width="134" valign="top">
NAB
</td>
<td width="124" valign="top">
Choice Package ($250K+)
</td>
<td width="97" valign="top">
5.68%
</td>
<td width="116" valign="top">
6.05%
</td>
</tr>
<tr>
<td width="134" valign="top">
ANZ
</td>
<td width="124" valign="top">
Simplicity PLUS
</td>
<td width="97" valign="top">
5.70%
</td>
<td width="116" valign="top">
5.75%
</td>
</tr>
<tr>
<td width="134" valign="top">
Westpac
</td>
<td width="124" valign="top">
Rocket repay with 0.7% discount
</td>
<td width="97" valign="top">
5.81%
</td>
<td width="116" valign="top">
6.64%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="123" valign="top">
Choice Package
</td>
<td width="95" valign="top">
5.34%
</td>
<td width="114" valign="top">
6.11%
</td>
</tr>
<tr>
<td width="137" valign="top">
CBA
</td>
<td width="123" valign="top">
Package rate
</td>
<td width="95" valign="top">
5.34%
</td>
<td width="114" valign="top">
6.21%
</td>
</tr>
<tr>
<td width="137" valign="top">
ANZ
</td>
<td width="123" valign="top">
Fixed rate
</td>
<td width="95" valign="top">
5.54%
</td>
<td width="114" valign="top">
6.37%
</td>
</tr>
<tr>
<td width="137" valign="top">
Westpac
</td>
<td width="123" valign="top">
Fixed Option Home Loan
</td>
<td width="95" valign="top">
5.69%
</td>
<td width="114" valign="top">
6.56%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="132" valign="top">
Provider
</td>
<td width="131" valign="top">
Loan name
</td>
<td width="96" valign="top">
Rate
</td>
<td width="111" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="132" valign="top">
NAB
</td>
<td width="131" valign="top">
Choice Package
</td>
<td width="96" valign="top">
5.39%
</td>
<td width="111" valign="top">
6.04%
</td>
</tr>
<tr>
<td width="132" valign="top">
CBA
</td>
<td width="131" valign="top">
Package rate
</td>
<td width="96" valign="top">
5.39%
</td>
<td width="111" valign="top">
6.12%
</td>
</tr>
<tr>
<td width="132" valign="top">
ANZ
</td>
<td width="131" valign="top">
Fixed rate
</td>
<td width="96" valign="top">
5.54%
</td>
<td width="111" valign="top">
6.23%
</td>
</tr>
<tr>
<td width="132" valign="top">
Westpac
</td>
<td width="131" valign="top">
Fixed Option Home Loan
</td>
<td width="96" valign="top">
5.59%
</td>
<td width="111" valign="top">
6.38%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
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The lowest mortgage rates from the big four banks

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Larry Schlesinger

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