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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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<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Larry Schlesinger

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