Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" 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/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Conditions in the housing sector “continued to improve gradually” with house prices rising in the June quarter, according to the minutes of the RBA's July monetary policy meeting, where the cash rate was left unchanged at 2.75%.
The RBA notes that the effects of lower interest rates "were most evident in the housing market and were expected to be apparent in further growth in dwelling investment".
Once again, the minutes provide room for the RBA to cut rates further if required, though the July minutes do note that the inflation outlook is “slightly higher because of the exchange rate depreciation”.
While the July minutes highlight rising dwelling prices (compared with them being deemed flat in the June minutes), they also note that “dwelling investment was flat in the March quarter with continued growth in investment in new dwellings “offset by lower spending on alterations and additions”.
The outlook though for new residential construction remains positive.
“Forward-looking indicators for new construction continued to be favourable, with the number of building approvals increasing strongly in April and loan approvals rising noticeably over recent months, including for new dwellings,” notes the RBA.
“Dwelling prices increased over the June quarter and auction clearance rates remained high by historical standards. This was consistent with the Bank's liaison with builders, which suggested that housing conditions had improved further in most states.”
The July minutes continue more or less where the June minutes left off in relation to the housing market.
In June, the RBA provided an overall positive assessment of trends in the property market noting that “effects of low interest rates had been evident in a range of housing market indicators”.
The effects of lower rates were still apparent "across a range of indicators and, given the lags involved in the transmission of monetary policy, this process had further to run" says the RBA in its July minutes
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lschlesinger-FZcF9M3vE6

“Gradual” improvement in housing conditions as dwelling prices rise: RBA July minutes

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The Melbourne residential vacancy rate increased from 2.7% in May to 2.9% in June, as the rental market eased slightly in June, new figures from SQM Research show. 
A vacancy rate of 3% is considered to indicate a balanced market between renters and landlords.
In total 12,459 rental properties were vacant in Melbourne in June. 
Nationally, the vacancy rate increased by 0.1 percentage points to 2.2% in June with a total of 63,320 rental properties vacant nationwide over the month. 
The rising vacancy rate is expected to put pressure on rents rising further in 2013 and possibly also in 2014. 
Rental pressures eased in Sydney (1.8% to 1.9%), Perth (1.3% to 1.5%), Brisbane (1.9% to 2.1%) and Canberra (1.5% to 1.7%). 
Darwin’s property market swung further in favour of investors with vacancies falling from 1% to 0.8% in June with just 196 properties vacant.  However the Darwin vacancy rate is double what it was a year ago. 
Hobart was the only other capital city market to record a tightening in its vacancy rate from 2.7% to 2.5%. 
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif" rel="shadowbox"><img src="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif"></a>
SQM Research notes that Canberra’s vacancy rate is up 0.9 percentage points over the past year while Perth’s vacancy rate is up 0.8 percentage points - a “side effect of the slowdown in Australia’s commodities boom, as many of the nation’s mining towns are located in that part of the country”. 
“As stated with May's result, it has become apparent that vacancy rates are now rising. Causations behind the rise vary from city to city,” says Louis Christopher, managing director of SQM Research. 
“For example the rises in Melbourne and Canberra are as a direct result of rises in completions of new residential dwellings throughout 2012 and early 2013. The rises in Perth appear to be more demand related. 
“The net result out of this is that rents will struggle to rise for the remainder of this year and 2014 could see zero rental growth as an average for the capital cities. 
“Indeed, we have evidence rents are already falling in at least one city, being Canberra.”
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
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Melbourne leads continued easing of rental market with rents unlikely to rise until 2015: SQM

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Selling agents expect between $45 to $50 million for a 15 level office tower at 85 Spring Street in Melbourne’s so-called ‘Paris-end’.
Jones Lang LaSalle agent Paul Burns said the mid-80s Esanda building overlooking Treasury Gardens and the Parliament precinct would also suit residential apartments.
"It’s a ripping site for either,’’ he said of the building which was refurbished in 1998 and abuts the Parliament city-loop entrance.
It has been listed through Burns along with Leigh Melbourne of Colliers International.
The building last sold to private investment company Kador Group for about $47 million in 2011 when sold by AMP Capital Investors.
AMP paid the ANZ $30.03 million for the building seven years earlier.
Melbourne-based Kador credits itself with an efficient energy management focus, incorporating environmentally sustainable initiatives into the operation of its properties.
Short-term tenants of the building are the ANZ. The land area is 1241 square metres and the present building’s area is 10,435 square metres of quality office space. It has a 2.5 star Nabers energy rating.
"This is a commercially significant site which the buyer could refurbish, extend or redevelop into a major office in this premium location, or it could be converted to residential with the street plates extended to the street front,’’ Burns said.
He said architects Bates Smart had preliminary drawings which the buyer could access prior to commissioning the firm to further develop the building into a major high density apartment tower.
‘’There’s only a limited amount of residential product in the area – just a handful of other possible similar offerings’’ in this part of Spring Street between Collins and Little Collins streets.
Expressions of interest close on August 14.
In 1973 it was reportedly offered for sale with an adjoining block and a permit for a 23-storey tower.
 
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Spring Street Melbourne office site for possible residential redevelopment

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Like me you may be able to clearly recall when living in a flat or buying an apartment was seen as an entry point into the housing market.
For varied reasons a flat, or a unit was seen as ‘second-best’. Why was this so? In many respects price would have been key, and living in an inner-city flat was often a better choice because of easier access to employment or university.
Here’s another suggestion – in the 1830s the first multi-unit homes were built in New York, but these were not really flats or apartments, because as inner-city tenements a number of dwellings shared a bathroom.
It was not really until around 1870 that ‘real’ apartments started to be developed as fully self-contained multi level homes. Today from such a humble start apartment living is now a fully mature market, and when it comes to CBD apartments a very complex market and a rich demographic.
Over the last few weeks I have already suggested some key dynamics that are now common in our major cities. Recapping these include and in no particular order: the clear emergence of several well-defined sub-markets where in terms of price and quality the resident profiles are very different from other parts of the CBD.
Different types of facilities influence where people choose to live, as both buyers and of course the very high number of people renting, and so investment potential is also a strong motivation.
However most CBD apartment dwellers also have a lot in common on the list of must-haves, and these include location, convenience, design, facilities, views, public transport, prestige and the general desire for active and appealing neighbourhoods. 
It is clear that in the CBD a ‘great position’ is made up of a big list of features like public amenity, a rail link to the airport (in particular in Sydney) alongside lifestyle attractions such as access to parks, cafes, shops, restaurants, what many of the buyers I speak to refer to as the ‘buzz’ – in fact as a collective narrative its perhaps the most common factor.
Another two key issues that popped up all of the time, and regardless of location and price was design and quality. While the two items might be defined very broadly, as the CBD market continues to mature design and quality are now very clearly understood by any buyer.
Some points like size will always be a function of price – other factors like privacy, noise, storage and in-house facilities are important to the keen eye of any buyer.
 
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Building lifestyle facilities
Clearly we have come a very long way since the days of those New York tenements in the 1830s with ‘shared-bathroom facilities’ and buyers now have very clear expectations about the ins and outs of their own apartments, which brings me to some of the feedback I have noted about building facilities, common areas and how strata plan levies are impacted.
Some buildings have great facilities, like the lap pool in Sydney’s The Hyde, which the developers (Stocklands) had the vision to place on level eight of the building and so ensured all residents had a pool that appears to float above the trees of nearby Hyde Park.
They could have always put the pool in the basement or to the backside of the building. It’s like the clever thinking that saw a common roof terrace on top of the Astor in 1923 and on the roof of many early apartment buildings built in Potts Point.
It is however clear that buyers see facilities falling into two clear groups – the must have facilities and others that people might like to have but are not seen as essential. There will always be a relationship between apartment prices, the size of a project and the reality that ongoing levies will be impacted.
Buyers in the CBD also see the ground-level public amenity that surrounds their building as part of this picture, as cafes, restaurants and shops are not the usual preserve of an individual building nor are large sometimes 24 hour fitness centers but for many buyers a ‘city-pad’ surrounded by these services is an essential and likewise CBD residents who rent.
Outside of these it is  important to note that other areas like security, parking and storage are must haves, although parking is under pressure and is becoming more limited with 2-bedroom and 3-bedroom apartments no longer having one plus spaces.
Most of the feedback I have garnered from buyers is that they are happy with this if local transport is good and so the car might not be used during the working week.
In Melbourne the tram network was extended to the Docklands area from the start and also in Brisbane the intensive residential development along Southbank also had rail access. Now Sydney’s light rail in the CBD will be a key transport link for city residents.
Turning back to individual buildings after we tick off security and easy access to parking (including visitor parking) the choice of desirable facilities has grown. In recent years, while we still have pools and some smaller but very well-equipped gyms appealing to most buyers, there has also been the spread of common-use areas. These now include meeting rooms, libraries, cinema rooms, and wine cellars and shared dining areas with quality BBQ facilities.
When apartments in general are tending to get smaller, what most of these facilities have in common is that they extend the ‘personal’ entertaining opportunities for the building community, which is seen as very desirable. It’s easier to entertain family and friends on special occasions and once established they are not a cost burden.
Building management is also now a keenly understood area that extends way beyond what for some may have been the novelty of a concierge – a high level of professional management is now critical.
 
<hr class="system-pagebreak">
Someway To Go
The CBD apartment market already has a long heritage and its appeal is only growing. In our major cities buyers and already well-established residents have a clear idea of what is good and not so good about city living.In taking a project into this market the demographics have some clear pointers that reveal a complex market.
This is a high-density highly urban market, a mobile and shifting market where off-shore buyers are active, many buyers are investors and accordingly a lot of your neighbours will be renting, it’s a young market, but for lifestyle reasons many high-end buyers are older with very precise expectations of location and quality. Local and building facilities are key and building services and quality continue to improve.
One of the many buyers I spoke to said to me that they had looked long and hard before they moved into the CBD, they were very aware that within 10ks of the city they also had different options, that were much cheaper. But in the end they were happy that the city offered a rich lifestyle, a good mix of facilities with easy work access – but there was room for the city (Sydney in this case) to improve.
Once More to New York
I mentioned earlier the appeal of a building concierge, and New York is the home of the ‘doorman’ and woman. A New York doorman might perhaps be the measure of a very mature CBD residential market. We all know the uniform that may even include top hat, gloves, epaulets, a jacket, embroidered with building logos, and stripe pants.
It’s worth a footnote to history as the doormen have been around ever since the Romans coined the job title — ostiarius — for the slaves who guarded their doors.
The men and women who are now an important part of many CBD apartment buildings do have a long history and while in Australia they might be spared the use of white gloves it’s a great reminder of the charm of city living as something we can all find stimulating to market.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
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A flat or a unit has always been viewed as ‘second-best’. Why is this so?: Peter Chittenden 

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The 'inevitable Australian housing bust' has turned out to be a real fizzer. 
We haven't been short of property crash predictions in Australia, but so far the forecasts have come to nought, with market sentiment once again reversing northwards from mid-2012 as interest rates were dropped. 
Until the day we get a crash, of course, we never will be short of predictions, butthe recent housing finance data showed further increases in May.
Some housing bust predictions  Neil Jenman, 2001: "The real estate market will crash".  Jenman reiterated his coming Melbourne property crash prediction in 2003, noting that: "The peak will probably turn out to be late 2001 to mid 2002, around time that we issued our first warnings." 
But we never really got a property crash. Instead we got something of a slowdown in many markets, but prices in Melbourne have since surged and more than 80% higher than they were at that time, while Australia's city populations have surged. 
I note in passing that the Australian population when Jenman made his first crash call, as recorded in the 2001 Australian Census, was 18.972 million, as compared to 23.115 million today. Demand for housing in capital city suburbs is rising with every passing week. The property crash predictions have continued, yet prices in many areas have kept on climbing:
Professor Steven Keen, 2008: "When the expectation [of rising asset prices] goes, ultimately goodbye 40% of the current price of houses."
David Llewellyn-Smith, 2010: "This blogger reconfirms his assessment of the bust ahead for Australian housing."
Leith van Onselen, 2010: "In my opinion, an Australian house price crash is inevitable and cannot be avoided."
Philp Soos, 2011: "Australia's property bubble will inevitably burst."
Jordan Wirsz, 2011: "Property prices will crash by 60%."
Jordan Wirsz, 2012: "Buy gold." (immediately before the gold price crash).
David Collyer, 2012: "I predict that property prices will fall by 15-20% in 2012".
Harry Dent ,2012: "The real estate market will crash in 2012. Prices could fall by more than 60%."
Philip Soos, 2013: "Australian housing will crash."
So, the first thing we can ascertain is that the timings of asset price cycles are far more unpredictable than we tend to believe they are.
 
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But while it might appear that Australian real estate is on the up, on closer inspection, I'd suggest that perhaps in many markets a long, slow decline in real terms is already well underway, which in all fairness to Keen is precisely what his words seemed to imply back in 2008.
In particular, property markets in Adelaide, Brisbane, Canberra and many regional markets have not yet responded in any meaningful way to stimulatory monetary policy. In fact, only Sydney's housing markets have broken through to new highs, with all other markets below previous peaks, which thus represents something of a decline in real terms. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6bl-dwelpri-small.gif?accessed=2013-07-13-14-00-56" alt="Dwelling Prices graph">
Has the risk of a property crash gone away?
No.
Whilst prices remain high, there is always the chance of a crash.
However, yesterday's housing finance data suggests that no housing bust is imminent, with the value of dwelling commitments rising seemingly inexorably over the past year:
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://www.abs.gov.au/ausstats/abs@.nsf/a866861f12e106e0ca256a38002791fa/05dbce56402ec566ca25723d000f2999/Body/0.1FE6!OpenElement&amp;FieldElemFormat=gif" alt="Graph: Value of dwelling commitments, Total dwellings">
Source: ABS
To instigate a property market crash, given that there is no real over-supply of dwellings in most cities, we'd probably need a credit shock, a sharp rise in unemployment, much higher interest rates or a policy change such as a reform of the negative gearing tax laws (or, of course, a 'black swan' event, which by its very nature is an unforeseeable trigger).
These factors look to be unlikely in the short term, but we could yet see unemployment rising materially as the labour-intensive mining construction boom unwinds. But could prices declining in real terms? 
There could also be some hidden good news for homebuyers in some Australian cities. Prices have essentially gone nowhere for years in cities such as Adelaide, Canberra and Brisbane, which means that prices in real terms have been declining and are becoming more affordable, particularly with interest rates falling to record lows.
Plenty have said that this can't be a property recovery without the participation of first-home buyers, and some have also said that prices cannot move higher without first homebuyers propping up the bottom of the market (not that this has ever held back London house prices over the past quarter century). However, you choose to define the word 'recovery', it's heartening to see the number of first homebuyer commitments picking up over the last few months, although the value of their commitments remains relatively low to date. I have long felt that first-home buyers will gradually come back into the market once they believe that prices won't fall further, but this is one data set to keep a close eye on.
 
<hr class="system-pagebreak">
Investors are leading the recovery.  There have been some reports 'on the ground' that at last activity in Brisbane is beginning to pick up. And some have also been arguing that prices in Adelaide are going to now pick up strongly after a slack five years. 
I'm not so sure about Adelaide, as the supply appears to be meeting the demand for housing. A closer look at the figures shows that investor activity in Australia (value of investor commitments) is up an astonishing 24% over the year which in part explains why Sydney recorded yet another extraordinary 81% clearance rate on Saturday. Investors are pumping up the market. Sydney prices are up +8.5% in this cycle already, with the inner west markets running very hot (as I've been saying forever and a day now, it's the $500k-$1 million inner west suburbs which represent the hot markets).
The 'positive cashflow investors' who are suggesting that regional centres and fringe suburbs are going to beat inflation and be good investments over the next decade are, in my opinion, stuck in the past - in 2005 to be precise, which is when households stopped leveraging up and began saving. It may not have been a bad strategy from 1993-2005 for those for whom servicing investment mortgages was an issue, but it's the wrong strategy today. If you are waiting for households to simply keep on taking on ever more mortgage debt in perpetuity and prices to magically keep increasing ahead of incomes you are likely to be very disappointed.
<img width="400" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6tl-hhfin-small.gif?accessed=2013-07-13-14-00-56" height="359" alt="Household Finances graph"> The recovery in property markets has been investor-led, which means that quality inner-city markets will be the likely outperformers - the regional markets/fringe suburbs look much more likely to me to struggle badly.
If you want to outperform you will need to anticipate where the next huge wave of speculative investment capital is heading, and that is to the four main capital cities, and in particular, to Sydney suburbs close to the city. Melbourne has already experienced a tremendous boom in prices since 2007. Perth is travelling very strongly again with its low unemployment levels of just 4.6% and booming population growth. And prices in Sydney seem set for more very strong growth.
I'll be forced to change the broken record on Sydney's inner west at some point, but judging from the scorching auction clearance rates recorded on Saturday, not for quite some time to come yet.
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">eedom.</a>
 
 
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Australian housing bubble and burst a no show: Pete Wargent

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Unit rental yields across Australia's capital cities range from 4.4% in Melbourne to 6.2% in Darwin, according to RP Data.
 
<img height="194" width="400" src="/images/stories/2013/07/melbourneunitsjuly5.jpg" alt="melbourneunitsjuly5">
The median gross rental yield landlords are securing for units in Melbourne, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/sydneyunitsjuly5.jpg" alt="sydneyunitsjuly5">
The median gross rental yield landlords are securing for units in Sydney, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/adelaideunitsjuly5.jpg" alt="adelaideunitsjuly5">
The median gross rental yield landlords are securing for units in Adelaide, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/perthunitsjuly5.jpg" alt="perthunitsjuly5">
The median gross rental yield landlords are securing for units in Perth, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/hobartunitsjuly5.jpg" alt="hobartunitsjuly5">
The median gross rental yield landlords are securing for units in Hobart, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/canberrajuly5.jpg" alt="canberrajuly5">
The median gross rental yield landlords are securing for units in Canberra, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/brisbanejuly5.jpg" alt="brisbanejuly5">
The median gross rental yield landlords are securing for units in Brisbane, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
<img height="194" width="400" src="/images/stories/2013/07/darwinjuly5.jpg" alt="darwinjuly5">
The median gross rental yield landlords are securing for units in Darwin, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending June 30, 2013.
Source: RP Data
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Melbourne's 4.4% unit rental yield the lowest of the capital cities: RP Data 

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The eastern Sydney seaside  is home to some spectacular coastal views, with 2 Denning Street, South Coogee, no disappointment especially from its rooftop balcony.
However the two storey home has been up for sale since October 2012, with <a target="_blank" href="https://www.mybhr.com/824671/">BHR estate agent Catherine Bullen </a>seeking offers over $4 million. Its last revealed asking price indication was $4.95 million. 
The four bedroom, two bathroom home is complete with granite floors, waterford crystal chandeliers and a parents retreat with a spacious bathroom, spa and double basins.
The property last sold in 1988 for $500,000.
The change in the median price for homes in South Coogee over the past five years has been 16.2%.
The home sits on a 539 square metre block.
The conjunctional agent Natalie Zulian at Ellison Zulian Property says "nothing has been spared in this quality built home that oozes class and style.’
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South Coogee seaside home sees $950,000 asking price reduction to $4 million plus

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Stockland and Mirvac are two of the largest Australian listed property companies with market capitalisation of $8.1 billion and $6.3 billion respectively. 
Both companies have suffered from losses through residential development exposure over the last 18 months. 
Small companies which specialise in residential property development include AV Jennings, Cedar Woods, FKP and Peet have also experienced difficult trading conditions and reported significant losses. 
Weak housing and apartments prices, rising construction costs, and low volumes of residential sales across <country-region><place>Australia</place></country-region> have contributed to the losses experienced.  
The chart below shows the movement in residential prices in Australian major cities over 10 years to March 31, 2013.
<img alt="atchison_residential_prices" height="217" width="470" src="/images/stories/2013/larry_uploads/atchison_residential_prices.jpg">
But signs of recovery have emerged.
Perth and <place><city>Sydney</city></place> residential markets showed greater resilience over the last three years than other states. The outlook for market in <city>Sydney</city> is positive, whilst <city><place>Perth</place></city> is stable. 
<city><place>Sydney</place></city> prices had been flat for most of the period since 2004 despite a persistent supply shortfall.  Indications of encouraging building approvals and home loan approvals have emerged in 2013.  Vacancy currently below 2% and improving employment will support demand. 
<city>Perth</city> is the centre of the strongest population growth in <country-region><place>Australia</place></country-region>.  Shortfall in supply persists despite the slowing activity in the resources sector.  New construction is emerging and is needed as the vacancy rate is low at 2.4%. 
In <city><place>Melbourne</place></city> the housing market is characterised by an oversupply of dwellings with significant construction of new dwellings since 2009/2010 and lagging infrastructure investments which will facilitate residential developments.  Strong price rises in 2010 have prompted the growth in supply. 
After strong interstate migration to <state><place>Queensland</place></state> from the southern states for a number of years immigration has slowed particularly as the Gold Coast market collapsed in the global financial crises.  Demand arising from improving employment prospects is now emerging. 
Whilst unemployment and interest rates remain low and population growth from overseas migration continues, fundamentals will improve for developers.  Affordability is assisted by the low mortgage interest rates after a 2% fall in official cash rates. 
In a strategic review conducted by the new CEO of Stockland, Mark Steinart, residential development will be smaller but remain a material part of the business.  It might contribute around 15% of earnings.  An improvement in the residential property outlook will assist Stockland. 
Mirvac similarly has reduced the significance of residential development for earnings as it grows the core real estate asset holdings.  Contribution from residential development of 24% of earnings is expected. 
Outlook for Stockland and Mirvac earnings will benefit from improving economic and property fundamentals which increases profitability for residential development.  The principal driver of return for both is from rent from core property holdings.  Variability of earnings will be greater than REITs that do not engage in development but less than companies that are solely residential property developers. 
Smaller specialist residential developers will benefit directly from emerging improvement in residential property development and are already experiencing some improvement in share prices.
Ken Atchison is managing director of <a target="_blank" href="https://www.atchison.com.au/" rel="nofollow">Atchison Consultants</a>.
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Better residential development outlook good news for some A-REITS: Ken Atchison

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The value of total commercial finance commitments rose 2.5% in May, following a rise of 2.7% in April, a rise of 2% in March and a 1% rise in February, the latest ABS lending finance figures show.
Fixed lending commitments rose 7.4%, following a rise of 0.9% in the previous month.
Revolving credit commitments fell 11.5%, after a rise of 8.3% in the previous month.
The value of commitments for the purchase of dwellings by individuals for rent or resale (using commercial finance) rose 1.5% in May 2013 on a trend basis and the seasonally adjusted series rose 0.8%.
In seasonally adjusted terms, the value of total personal finance commitments fell 3.1%. Revolving credit commitments fell 6.2% and fixed lending commitments fell 0.9%.
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Commercial lending up 2.5% in May: ABS

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Many Australians have taken a new approach to borrowing, which could see a whole generation of mortgage holders paying off their home loan a decade early.
Variable rate borrowers who have kept their monthly repayments at the November 2011 level are well ahead in their repayments.
{module Are you a home loan borrower who has kept repayments at recent interest rates highs?}
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