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Last week the Commonwealth Bank cut its suite of fixed-rate mortgage products to appeal to those borrowers looking for certainty as the future direction of interest rates remains unclear.
The Commonwealth Bank now offers the lowest one-year, three-year, four-year and five-year home loan rates of the major banks, while NAB offers the lowest two-year fixed rate loan and ANZ the lowest 10-year fixed rate home loan.
Collectively the major banks account for around 80% of all new mortgage lending.
Here’s a guide to the advertised fixed and variable mortgage rates of the Commonwealth Bank and the other three major banks – NAB, Westpac and ANZ:
Rates correct as of September 10:
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
CBA
</td>
<td valign="top" width="123">
ANZ
</td>
<td valign="top" width="123">
NAB
</td>
<td valign="top" width="123">
Westpac
</td>
</tr>
<tr>
<td valign="top" width="123">
Standard variable
</td>
<td valign="top" width="123">
6.80%
</td>
<td valign="top" width="123">
6.80%
</td>
<td valign="top" width="123">
6.78%
</td>
<td valign="top" width="123">
6.89%
</td>
</tr>
<tr>
<td valign="top" width="123">
One-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.84%
</td>
<td valign="top" width="123">
5.79%
</td>
<td valign="top" width="123">
6.09%
</td>
</tr>
<tr>
<td valign="top" width="123">
Two-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.94%
</td>
<td valign="top" width="123">
5.69%
</td>
<td valign="top" width="123">
6.09%
</td>
</tr>
<tr>
<td valign="top" width="123">
Three-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.94%
</td>
<td valign="top" width="123">
5.89%
</td>
<td valign="top" width="123">
5.89%
</td>
</tr>
<tr>
<td valign="top" width="123">
Four-year fixed
</td>
<td valign="top" width="123">
6.14%
</td>
<td valign="top" width="123">
6.44%
</td>
<td valign="top" width="123">
6.39%
</td>
<td valign="top" width="123">
6.69%
</td>
</tr>
<tr>
<td valign="top" width="123">
Five-year fixed
</td>
<td valign="top" width="123">
6.14%
</td>
<td valign="top" width="123">
6.54%
</td>
<td valign="top" width="123">
6.49%
</td>
<td valign="top" width="123">
6.19%
</td>
</tr>
<tr>
<td valign="top" width="123">
10-year fixed
</td>
<td valign="top" width="123">
7.74%
</td>
<td valign="top" width="123">
7.69%
</td>
<td valign="top" width="123">
8.09%
</td>
<td valign="top" width="123">
7.99%
</td>
</tr>
</tbody></table>
Source: Websites of ANZ, Commonwealth Bank, Westpac and NAB
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Fixed or variable: What mortgage interest rates the major banks are offering borrowers

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Innovation was rewarded at the REIV’s 2012 Commercial &amp; Industrial Marketing Awards with campaigns featuring online videos, eBooks, tram advertising and even street performers picking up prizes.
Jones Lang LaSalle picked up the prize for best leasing campaign for a budget in excess of $30,000 for its efforts to find tenants for GPT’s 530 Collins Street office tower.
<img src="/images/stories/2012/09/5301.jpg">
<img src="/images/stories/2012/09/5302.jpg">
The campaign, led by Stuart Colquhoun and Ashley Buller, included the use of street performers outside the glass office tower over four Fridays (pictured above and below) featuring an Italian pizza theme and a Middle Eastern theme with dancers in colourful costumes built around the slogan of “530 Fridays on my mind”.
<img src="/images/stories/2012/09/5303.jpg">
<img src="/images/stories/2012/09/5304.jpg">
Other elements of the campaign included advertising on Melbourne trams (pictured below) with the slogan “first class address, first class view”.
<img src="/images/stories/2012/09/5305.jpg">
Colliers International picked up Best Sales Campaign for a budget between $15,000 and $30,000 for its marketing effort for The Avenue Shopping Centre in Sunshine West.
The campaign was led by Jeremy Gruzewski and Ted Dwyer and included a 24 hour advertisement to passing foot and motor traffic, traditional print advertising, online advertising campaigns and a targeted mail out of 750 brochures (pictured below) to potential buyers.
<img src="/images/stories/2012/09/avenue.png">
Colliers also picked up the award for best leasing campaign for a budget between $5,000 and $15,000 for 509 St Kilda Road, Melbourne, which included the publication of a 14 -page eBook. The campaign was led by Ben Christie and Ben McKendry.
Commercial agency W.B. Simpson &amp; Son won best leasing campaign with a budget of under $5,000 for its marketing efforts for 355 William Street in West Melbourne, which included <a href="https://visualdomain.com.au/listing.php?propertyId=v2891&amp;mediaId=e157037e7dbd4e028149c7ffe4d49efa&amp;t=FF&amp;hash=657a04421cc19b4f8f5614807376667d" target="_blank">a short online video showing the exterior and interior of the building</a> and describing the key aspects of the two-storey building, including the observation that it has a “sunny northern aspect”.
Colliers International picked up a leasing campaign award for the new Botanicca 8 office development in Richmond, in the category of a budget from $15,000 to $30,000. The campaign was led by Michael Darvell and Rob Joyes.
<img src="/images/stories/2012/09/botanica8.jpg">
REIV President Trevor Booth said all the award winners demonstrate “the value that a skilled and licensed real estate agent can bring to the process of selling or leasing commercial and industrial property”
The full list of winners is:
 
Sales Campaign
 
<ul>
<li>Best Sales Campaign: budget under $5k - Nichols Crowder Property Solutions (<a target="_blank" href="https://www.nicholscrowder.com.au/property-module.php?propertyID=2247&amp;prevID=65">78 Mt Eliza Way, Mt Eliza</a>) </li>
</ul>
<ul>
<li>Best Sales Campaign: budget between $5k–$15k - Nichols Crowder Property Solutions (67-73 Cochranes Road, Moorabbin) </li>
</ul>
<ul>
<li>Best Sales Campaign: budget between $15k–$30k - Colliers International (<a target="_blank" href="https://rca.colliers.com.au/property-retail-vic-sunshine+west-500064091">The Avenue Shopping Centre, Sunshine West</a>)</li>
</ul>
<ul>
<li>Best Sales Campaign: budget in excess of $30k - CBRE (452 Flinders Street, Melbourne)</li>
</ul>
<ul>
<li>Best Development Site Sales Campaign - CBRE (<a target="_blank" href="https://cbre.realcommercial.com.au/property-land+development-vic-south+yarra-500144731">Albany Hotel, 1-23 Millswyn Street, South Yarra</a>)</li>
</ul>
 
Leasing Campaign 
<ul>
<li>Best Leasing Campaign: budget under $5k - W.B. Simpson &amp; Son (<a target="_blank" href="https://www.youtube.com/watch?v=5_txkOUuE6E">355 William Street, West Melbourne</a>)</li>
</ul>
<ul>
<li>Best Leasing Campaign: budget between $5k–$15k - Colliers International (<a target="_blank" href="https://rca.colliers.com.au/property-offices-vic-melbourne-5801649">509 St Kilda Road, Melbourne</a>)</li>
</ul>
<ul>
<li>Best Leasing Campaign: budget between $15k–$30k - Colliers International (<a target="_blank" href="https://rca.colliers.com.au/property-offices-vic-richmond-5858391">Botanicca 8, Richmond</a>)</li>
</ul>
<ul>
<li>Best Leasing Campaign: budget in excess of $30k - Jones Lang LaSalle (<a target="_blank" href="https://www.530collins.com.au/Core/Content/Public-Home-Page/Content2974.aspx">530 Collins Street, Melbourne</a>)</li>
</ul>
The winners in these categories are now finalists for the Commercial Gold Award at the REIV Awards for Excellence Gala event on October 18.
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Street performers and tram advertising help Jones Lang LaSalle win at REIV commercial marketing awards

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Borrowers are inclined to use a mortgage broker because they can recommend products from as many as 30 different lenders, but according to Sydney mortgage broker Tony Harris, many brokers will only recommend loans from one or two of their favourite lenders.
Speaking as part of a recent Property Observer webinar, Harris says it is very important how borrowers go about selecting a mortgage broker.
Harris says one of the first questions borrowers ask is: “How many lenders can you recommend?”
But the answer they get can be something of a red herring as he let listeners in an a little-known industry secret.
“A lot of brokers have 25 to 30 lenders on their panel, but in reality they are probably only writing loans through two or three lenders,” says Harris.
“The reality is that some brokers are wedded to certain lenders over others because they are comfortable with them and they understand their loan criteria,” he says.
Under the ASIC-enforced credit regulations, brokers must also ensure that a loan is ‘”not unsuitable” by making reasonable enquiries about a borrower’s financial situation, as well as their requirements and objectives.
“So the first question is how many lenders can you recommend, but then the next question is how many loans have you written so far and how long have you been in the industry,” says Harris.
Harris says borrowers should quiz brokers about the different lenders on their panel.
“If you feel you may be missing out on a few lenders, quiz them more
“Ask them: ‘Why are you recommending this lender? What is it about them? Do they offer good service levels?’
“It’s OK if they have a favourite lender and can explain why, but make sure you drill down and ask those questions.
“If it is compelling reason and they are good answers, by all means go with that broker.”
Borrowers should also be aware that brokers are paid by lenders through an upfront commission of around 0.5% to 0.7% of the loan balance and recurring annual “trail” commission of between 0.15% and 0.2% of the loan balance until the loan is discharged.
Unscrupulous brokers might be tempted to recommend one lender over another because of better commission rates.
In addition, some lenders offer brokers the opportunity to earn bonus payments and other incentives by meeting certain performance metrics such as loan volume targets or if additional financial products such as insurance are taken up by a borrower.
Listed mortgage broker Mortgage Choice averages out the commission payments from all the lenders on its panel so that its loan writers are paid the same rate regardless of lender – eliminating the risk of a broker favouring one lender over the other for the wrong reasons.
This averaging out of commissions was highlighted as part of Mortgage Choice’s annual results presentation last month.
Harris also delved into the issue of brokers charging an upfront fee.
He says this has become more prevalent in the current slow credit growth, weak property market and tighter margin environment post the GFC.
But Harris says brokers that charge a fee need to offer more than just filling in a loan application form.
“They need to be able to hold your hand and guide you through the process.
“At the end of the day, you get what you pay for.
“If you can find a broker that does not charge a fee and can provide a great service that may be a great way to go as long as you believe they are going to do everything for you and not just recommend one or two lenders because they are their favourites.”
Harris also recommends that borrowers ensure the broker is a member of the Mortgage and Finance Association of Australia, the peak industry body representing mortgage brokers, which works closely with regulators ASIC and APRA.
ASIC provides a free broker licence check on the credit section of its website.
“A broker can have their licence under own name or company name or work under someone else’s licence,” says Harris.
For more tips from Tony Harris on using mortgage brokers and refinancing your mortgage, <a href="/news">watch the free Property Observer webinar</a>.
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Borrowers should shop around for best mortgage broker, not just the best loan: Broker

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Apartment building was the weakest performing construction sub-sector in August, as the Australian Industry Group (AIG) Australian Performance of Construction Index fell for the 27th consecutive month with no sign yet of a new financial year turnaround for the sector.
The index, compiled in conjunction with the Housing Industry Association, was down 0.4 points to 32.2 in August. Readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease.
Survey respondents cited subdued conditions, a shortage of new tender opportunities, project delays and difficulty securing funding as impacting on growth.
Click to enlarge
<a href="/images/stories/2012/09/aigsept7.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/aigsept7thumb.gif"></a>
Source: AIG
In July, the index fell 2.2 points with AIG noting that the rate cuts in May and June had not spurred on any kind of rebound for the sector.
In August, apartment building was the weakest-performing sub-sector in the month – down 10.8 points to 22.1 – offsetting gains from the previous month.
Across the other sub-sectors, house building rose to 31.5 and commercial construction increased to 34, while engineering consecution fell to 35.7
The key new-orders sub-index fell 5.8 points to 28.8.
Commenting on the August results, AIG director of public policy Peter Burn said the continuing severe slump in residential and commercial construction was a drag on the overall economy.
“In August a weakening in the engineering construction sector contributed to a further worsening in the sector as a whole. Even though interest rates have fallen recently, the near-term outlook for the construction sector deteriorated with a further fall in new orders.
“The drop-off in new orders was particularly sharp for engineering construction and the apartment sub-sector," Burn said.
HIA chief economist Dr Harley Dale says that against a backdrop of five weak quarters for new dwelling investment, it is concerning that the first two index updates for 2012-13 “provide no sign of a turnaround”.
“The persistent weakness in the sub-indices for activity and new orders into the new financial year raises question marks as to whether we will see any tangible evidence of improved conditions in the construction industry by the December 2012 quarter. You would hope to be seeing a modest improvement by that quarter, but the odds of sighting that improvement appear to be lengthening," says Dale.
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Apartment building leads further contraction in construction sector in August

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ASIC’s long-running action against three banks over their alleged involvement in an unregistered managed investment scheme operated by failed financial planning firm Storm Financial will resume on Monday, but the actual start of the trial could be delayed by a week following an 11th-hour meeting of lawyers representing the parties.
A spokesperson for ASIC confirmed to Property Observer that the parties would next appear before the Brisbane Federal Court on Monday, September 10, but that "subject to the outcome of that appearance, it may well be that the opening of the trial will not take place until Monday 17 September".
The trial is expected to take up to five months, with ASIC expected to call up to 80 witnesses to testify.
The emergency meeting sought to narrow down the issues to be contested, with the hope that the trial would be concluded by Christmas with a view to earlier compensation for thousands of investors, who have endured a wait of more than four years.
Investors suffered losses totalling around $3.6 billion when the Townsville-based financial services company’s highly leveraged investments were hit by market volatility in December 2008.
ASIC’s case against the three banks, which provided loans to Storm clients, dates back to December 2010, when the corporate watchdog alleged that an unregistered managed investment scheme was operated by Storm and that the Commonwealth Bank, Bank of Queensland and Macquarie were “knowingly involved in the operation of that scheme”.
At the time of its collapse in 2008, Storm Financial, which was based in Townsville and founded by Emmanuel and Julie Cassimatis, had over 13,000 client portfolios and advised on investment home lending and margin lending.
High-profile investors included cricketer Andrew Symonds.
If the court finds in favour of ASIC, it could open the way to investors recovering more than $1 billion from the three banks.
Since the collapse of Storm in 2008, ASIC has alleged that Storm operated a managed investment scheme (MIS) that should have been registered under the Corporations Act 2001 and was not registered. "Generally in an MIS people are brought together to contribute money to get an interest in the scheme; money is pooled together with other investors or used in a common enterprise; and a 'responsible entity' operates the scheme," explains ASIC.
"Investors do not have day-to-day control over the operation of the scheme.
"An MIS must generally be registered with ASIC if it has more than 20 members or is promoted by someone who is in the business of promoting investment schemes."
 In December last year ASIC claimed an initial victory for investors against the banks over their alleged involvement with Storm when Federal Court judge Lindsay Foster rejected challenges by Macquarie Bank, Bank of Queensland and Senrac, the operator of a BoQ branch, against ASIC’s representative action on behalf of two former Storm investors. 
Despite this procedural win, Mark Weir, co-chairman of the Storm Investors Consumer Action Group, told the Australian Financial Review the wait for compensation would be prolonged.
 
 
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ASIC’s battle with banks over Storm Financial collapse to resume on Monday

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The Adelaide property market still has further to fall before it hits rock bottom, according to valuation firm Herron Todd White (HTW) in its latest property market round-up.
Looking at the Adelaide market over August, HTW valuers say the volume of both home and unit sales are declining while demand for new housing remains soft.
The latest report notes that new Adelaide houses and units are “almost never” sold at prices exceeding their potential resale value.
And the outlook for Adelaide remains on the gloomy side.
“The Adelaide property market in the short term continues to be flat and limited growth is expected in the next 24 months,” says HTW in its latest report.
Despite reporting that capital values are still declining, the situation is not all bleak for property investors, with HTW reporting that it remains a balanced rental market for both houses and units, with the vacancy rate steady in the case of houses and “stable” for units.
Adelaide Hobart and Canberra are the only three capital city property markets still in a downswing.
According to HTW, the Adelaide market has been in decline for the past year.
In its September 2011 report (for the month August) HTW said Adelaide was a declining housing market although at the time it said there was “fair” demand for both new houses and units.
“Although there has been a slight decline in house prices since 2010, investors have also been cautious about entering the market due to the speculation that interest rates were due for an increase, especially on the back of inflation figures,” said HTW back in September 2011.
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A year on, Adelaide property clock still stuck in decline: Herron Todd White

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Sydney developer the Barana Group has bought The Novotel Melbourne St Kilda for around $55 million following an international marketing campaign to sell the 211-room hotel.
The sale price reflects a yield of about 8%.
The hotel was put up for sale by Tourism Asset Holdings Limited in June and was marketed by CBRE Hotels’ Wayne Bunz and Mark Wizel.
Bunz told Property Observer in June that he was expecting it to sell for between $55 million and $60 million.
The Barana Group, led by chief executive Greg Shand, has added the hotel to its growing hospitality portfolio, which also includes Novotel in Melbourne at Glen Waverley.
“We’re investors in the hospitality space. That being said, we are primarily property investors, not necessarily just hotel investors,” Shand told the Australian Financial Review.
The Novotel Melbourne St Kilda is operated by Accor, the world’s biggest hotel and tourism group, and has a management agreement which still has nine years to run.
After that, vacant possession of the hotel will be available, “offering a myriad of future redevelopment options,” said CBRE in its marketing campaign.
Shand said the hotel was expected to be run as a passive hospitality investment for the term of the management agreement with Accor.
“Things may change, but if the hotel performs well, that’s what we’ll be doing.”
Wizel says the hotel was viewed by investors as an “attractive land banking opportunity”.
The Novotel St Kilda last sold in 2008 and before that changed hands for $21 million in 1992 in the aftermath of the early 1990s recession.
The recently refurbished hotel includes 211 rooms over six levels on a 5,791-square-metre site boasting 270-degree views of Port Phillip Bay.
The hotel is zoned residential 1 under the City of Port Phillip.
The hotel originally opened in 1991 as the St Moritz hotel, which became the Novotel Bayside in 1993 when Accor acquired the management rights and then Novotel St Kilda in 1999.
It was originally developed by Michael Lasky and Izzy Hertzog.
The hotel stands on the site of the St Moritz ice rink, which operated from 1939 to 1981, attracting more than 2000 people to its 1,850 square metres of ice.
The ice rink was destroyed by a fire in 1984.
The first building on the site was the Wattle Path Dance Saloon and Café, which opened in 1923.
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Novotel St Kilda snapped up by Greg Shand's Barana Group

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Moranbah, the Queensland coal mining town and investor darling, leads a regional Queensland list compiled by RP Data of suburbs where it is cheaper to buy a house than to rent one.
RP Data estimates that it  $4,021 cheaper per month to buy a house in Moranbah with a principal and interest variable mortgage than rent one.
The median asking rent  for a house in Moranbah is $1,900 a week, according to RP Data.
The Moranbah council area has a population of around 22,000 permanent residents but a fly-in/fly-out (FIFO) worker population of 24,000, with a government inquiry into the sustainability of mining towns in April hearing that FIFO workers have been a key factor in driving up rents.
However, in April this year there were reports that rents and prices in Moranbah were falling due to mining companies – which take up many of the residential leases on behalf of workers – refusing to sign new leases.
At the time of the mining flare-up Terry Ryder of hotspotting.com.au said the situation highlighted the danger of investing in a mining town, where prices are “a bit artificial”.
“A single major employer can use its market power to achieve something such as forcing down rents,” Ryder told Australian Property Investor magazine. “A lot of investors have been getting very excited about Moranbah. This is a classic example, which may inject a bit of reality into the situation.”
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/moranbah-and-port-hedland-unsustainable-single-industry-mining-boom-hotspots-westpac/2012090655622">Westpac recently tightened its lending requirements for mortgages</a> to buy property in "single-industry" towns like Moranbah.
Current listings that Property Observer estimates would be significantly cheaper to buy then rent include this four-bedroom, two-storey house on a large block on Mills Avenue (pictured below) being sold by Mackay agent Julie Williamson with an asking price of $750,000.
<img src="/images/stories/2012/09/millsave.jpg">
The property has a two-year lease in place at $1,800 per week, or $8,100 per month.
Providing a 10% deposit and borrowing $675,000 on a 25-year principal and interest loan with a 6.25% interest rate would mean monthly mortgage repayments of around $4,500 per month.
Another example of a property that is cheaper to buy then rent is this two-level, four-bedroom house on Bradman Street (pictured below), being sold by Craig Aitcheson &amp; Roz Robinson from LJ Hooker Mackay with a price tag of $549,000 and with the possibility for development at the back of the property, subject to council approval.
<img src="/images/stories/2012/09/bradmanst.jpg">
The property is expected to command rent of at least $900 per week, or $4,050 per month.
Providing a 10% deposit and borrowing $494,000 on a 25-year principal and interest loan with a 6.25% interest rate would mean monthly mortgage repayments of around $3,300 per month.
Yet another example is 8 Goolagong Crescent (pictured below), also a four-bedroom, two-level house being sold by Marie Plahn of Moranbah Real Estate, where the price has been reduced by $100,000 to a negotiable $690,000.
<img src="/images/stories/2012/09/goolagong.jpg">
Plahn says the property can command weekly rent of $1,200 per week  or $5,400 per month.
Providing a 10% deposit and borrowing $621,000 on a 25-year principal and interest loan on a 6.25% rate would mean monthly mortgage repayments of around $4,100 per month.
To come up with its calculations RP Data compared the cost of a mortgage vs the cost of renting in four different ways: 1, Principal and interest loan on a variable mortgage rate; 2. Interest-only loan on a variable mortgage rate; 3. Principal and interest loan on a three-year fixed mortgage rate; and 4. Interest-only loan on a three year fixed mortgage rate.
The comparison does not take into consideration stamp duty, associated buying costs and strata fees, where applicable.
The data contains both units and houses, but in most suburbs on the list it is cheaper to rent a unit than buy one. 
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/08/rpsept34.gif" rel="shadowbox"><img src="/images/stories/2012/08/rpsept34thumb.gif"></a>
<a href="https://www.myrp.com.au/buyorrent" target="_blank">For the full list of all suburbs,  </a><a href="https://www.myrp.com.au/buyorrent" target="_blank">visit RP Data's website.</a>
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Mining darling Moranbah tops list of regional Queensland towns where it is cheaper to buy than rent: RP Data

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Moranbah, the heart of coal mining activity in Queensland's Bowen Basin region, was recently added to a list of WA and Queensland mining towns deemed by Westpac to be risky “single-industry” towns.
This means that investors will find it harder to get loans to purchase investment properties in Moranbah, with the bank deeming the town to have a potentially unsustainable housing market.
Its inclusion comes shortly before RP Data calculations that placed <a href="/news">Moranbah top of a list of regional Queensland towns where it is cheaper – by an average of $4,000 – to buy a house than rent.</a>
However, Westpac will now discount rental income listed as security on investor mortgage applications by 40%, taking into account the risk of rising vacancies.
“An application with security in a single industry town will have all rental income assessed at 60%,” says the bank in a note to mortgage brokers.
The new requirement is in addition to the rule that a 30% deposit is required in these postcodes for property to avoid the added burden of lenders mortgage insurance (LMI) – well above the usual 20% deposit requirement.
The policy changes apply to two investment loans – Westpac’s variable rate Equity Access Loan (EAL) and its fixed rate Investment Property Loan (IPL).
Westpac spokesperson Danny Johns told Property Observer recently the decision to add Moranbah and other mining towns to the list is due to concerns that in these locations the mining boom is driving house prices and rental yields to relatively unsustainable levels.
As an example, he says house prices have jumped 44% in Moranbah with yields at 13.5%, with property valuers telling Westpac that these figures are not sustainable.
Other towns added to the list recently include another Queensland coal mining town Dysart in the Isaac region south of Moranbah and Port Hedland and the East Pilbara region.
The full list of new towns included on Westpac’s list of “single-industry” postcodes are in Queensland:
• <a href="/news">Blackwater </a>(4714)
• <a href="/news">Moranbah </a>(4744)
• <a href="/news">Dysart </a>(4745)
• <a href="/news">Middlemount </a>and <a href="/news">May Downs</a> in the Isaac region (4746)
And in Western Australia:
• <a href="/news">Roebourne </a>(including <a href="/news">Karratha</a>, <a href="/news">Baynton</a>, <a href="/news">Bulgarra</a> and <a href="/news">Pegs Creek</a>, 6714)
• <a href="/news">Port Hedland</a> (including <a href="/news">South Hedland</a>, 6721)
• <a href="/news">East Pilbara</a> (6753)
Real Estate Institute of WA president David Airey says the changes probably reflect a view from within the bank that “housing prices and rental returns in particular, in places like Karratha, Port Hedland, South Hedland and Newman are unsustainable”.
“The state government is anxious to address affordability in the Pilbara, and while this won’t happen overnight it’s clear that housing demands will be better met over the next few years.”
Airey says Westpac has the right to “calibrate its business model as it sees fit”.
“But it would be a pity if the result meant that investors were less inclined to supply much needed housing in the state’s northwest. In some ways it’s a catch-22 situation,” he adds.
Real Estate Institute of Queensland (REIQ) chief executive Anton Kardash says lending criteria for remote areas has been restricted for some time, given these areas are often reliant on single industries for employment.
“Investors in these areas need to be aware that lenders will require a larger deposit dependent on the element of risk lenders attribute to buying property in a specific region.”
Jane Slack-Smith, director at Investors Choice Mortgages, says the change in policies indicate that Westpac is less keen to lend in mining locations.
“The bank is discounting rental income to allow for vacancies,” she tells Property Observer.
Slack-Smith says Westpac is implementing these changes in places like Karratha despite her clients being able to ask rent of $2,000 per week over a five-year lease.
“Some lenders will take 100% of rental income, but Westpac only takes 60% of income.”
“Some lenders don’t have postcode restrictions,” she says.
For advice on navigating hotspots, download our free eBook: <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze" target="_blank">Tools for Getting Through the Hotspot Maze.</a>
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Moranbah and Port Hedland unsustainable 'single-industry' mining boom hotspots: Westpac 

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The Commonwealth Bank will cut interest rates on new one-, three-, four- and five-year fixed-rate home boans by up to 0.4 percentage points per annum from September 7.
The benchmark three-year fixed rate mortgage will reduce by 10 basis points from 5.84% to 5.74%.
This latest rate cut means the bank's fixed rate mortgages are now at their lowest levels for almost three years, with the four- and five-year products the lowest they have been in over nine years.   
The new interest rates will be available to new customers, or customers looking to switch from variable to fixed rate home loans.
"This latest fixed-rate home loan interest rate reduction is great news for new customers looking to lock in their mortgages, offering them some certainty in the upcoming years," said Michael Cant, executive general manager of retail products and customers at the Commonwealth Bank. 
<table cellpadding="0" cellspacing="0" border="0" style="width: 450px;"><tbody>
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<td valign="top" width="134">
 
</td>
<td valign="top" width="134">
One Year
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<td valign="top" width="134">
Three Years
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<td valign="top" width="134">
Four Years
</td>
<td valign="top" width="134">
Five Years
</td>
</tr>
<tr>
<td valign="top" width="134">
CBA (current*)
</td>
<td valign="top" width="134">
5.84%
</td>
<td valign="top" width="134">
5.84%
</td>
<td valign="top" width="134">
6.44%
</td>
<td valign="top" width="134">
6.54%
</td>
</tr>
<tr>
<td valign="top" width="134">
CBA (new*)
</td>
<td valign="top" width="134">
5.74%
</td>
<td valign="top" width="134">
5.74%
</td>
<td valign="top" width="134">
6.14%
</td>
<td valign="top" width="134">
6.14%
</td>
</tr>
<tr>
<td valign="top" width="134">
Change
</td>
<td valign="top" width="134">
-0.10%
</td>
<td valign="top" width="134">
-0.10%
</td>
<td valign="top" width="134">
-0.30%
</td>
<td valign="top" width="134">
-0.40%
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Commonwealth Bank cuts fixed rate mortgage offerings

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Larry Schlesinger

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