Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Home Loans

<html><body>
Aussie Home Loans boss James Symond believes home buyers will enjoy better buying conditions in the 2018-2019 financial year, with housing affordability improving on the back of weaker property prices.
The Aussie chief executive says that while sluggish wages growth and ever-tightening lending conditions are still cause for concern, the easing or reversal of price growth in some markets will be a welcome change.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/3/TRENDS%201.jpg" alt="">
Souce: CoreLogic
“The Housing Industry Association’s recent report showed easing property prices have improved affordability in five of Australia’s capital cities in the June 2018 quarter, with Hobart, Adelaide and Melbourne the exceptions," Symond said. 
“Perth continues to be Australia’s most affordable capital city and represents excellent value for first home buyers and investors. I expect we will see a return to growth in that market very soon as buyers capitalise on its market conditions."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/3/TRENDS%202.jpg" alt="">
Symond pointed to Aussie’s recent <a id="m_3069420768199052246LPlnk39779" href="http://www.aussie.com.au/25years" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://www.aussie.com.au/25years&amp;source=gmail&amp;ust=1533340884865000&amp;usg=AFQjCNHtnWg1otE9jLxq9MhZpUaipuIh1g">25 Years of Housing Trends report</a> which showed loan serviceability levels have improved over the last 25 years.
The proportion of annual household income required to service a mortgage (based on a 20% deposit) is currently tracking at 36%, up from 27% in 2001, but down from its peak of 51% of annual income in June 2008.
“A new report released this week by Deloitte Access Economics shows that mortgage brokers make mortgage markets work better, providing information and improving choice and competition for borrowers. It’s for these reasons and more that there’s never been a better time for a borrower to use a mortgage broker," he said. 
"Brokers intimately know the various lending criteria and policies of different lenders, and so can help borrowers secure the right loan faster and easier than going it alone.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/3/TRENDS%203.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Housing affordability improving for buyers in new financial year: Aussie Home Loans 

<html><body>
Variable rate home loans accounted for over 81% of all mortgages written throughout July 2018, according to the latest national home loan approval data from Mortgage Choice.
This was an increase of 0.48% from the month prior, and over 4% higher than the 12-month average.
"June’s national home loan approval data bucked the 11th month trend as fixed rate demand rose slightly, however July’s data confirms that borrowers are dedicated to variable rate products,” Mortgage Choice chief executive officer, Susan Mitchell said. Across the country and for the seventh consecutive month, variable rate demand was the highest in Victoria, with 88.11% of borrowers opting for this type of product.
Next up was South Australia where 85.29% of borrowers chose a variable rate home loan. 
Western Australians were the least likely to opt for a variable rate product with 23.03% of borrowers in the state choosing to fix their home loan. This was followed by New South Wales where 21.51% of borrowers chose fixed rate home loan products. 
Since Sydney has the highest median dwelling value in the nation in June at over $870,000, according to CoreLogic its unsurprising that borrowers in New South Wales continue to opt for fixed rate home loans. “Interestingly, borrowers in Victoria do not appear to be as cautious. Consensus in the market is that interest rates will remain stable for the foreseeable future, which would encourage borrowers in Victoria to consistently opt for a variable rate product,” commented Ms Mitchell Looking ahead, Ms Mitchell said she does not expect a significant change in borrower preference in the short term as the official cash rate is likely to remain on hold until at least next year.  Ms Mitchell said regardless what type of home loan product a borrower has, if they have not reviewed their loan recently, now is a great time to do so.  “For those looking to buy their first home or investment property, I encourage them speak to their local Mortgage Choice broker who can help guide them through their home buying journey," concluded Ms Mitchell
</body></html>

Variable home loans accounted for the overwhelming majority of mortgages last month

<html><body>
Thousands of Australian mortgage holders are likely ‘trapped’ with their current lender, due to tighter lending restrictions, the comparison site Mozo has found.
It leaves them unable to negotiate or refinance their home loans. 
“A mortgage prisoner is a homeowner who is unable to move to a more competitive mortgage deal, even if they’ve met every repayment, because they would not pass new affordability tests applied by the banks,” says Steve Jovcevski, Mozo property expert.
"Typically, this is because they took out the loan before stricter lending rules applied. 
“Stricter lending criteria was introduced for good reason, with skyrocketing household debt, poor income growth and historically low interest rates. 
"The flow on effect is 30% of owner occupier borrowers are now finding themselves facing mortgage stress – and many are also falling into the mortgage prisoner’ category.
"The sad reality is borrowers who need competitive mortgage rates to stay financially afloat are most likely to be mortgage prisoners.”
He noted there had been generous lending standards in the past, that was now up against rising cost of living and stagnant wages.
"With an increase in interest rates likely to grow over the next few years this group is predicted to grow, meaning a large group of banking customers will be effectively 'stuck' with their bank. 
“When a customer is essentially tied to a provider, they are at the mercy of whatever rate rise or conditions the bank chooses to impose,” says Jovcevski who gave an example of how  mortgage prisoner arose.
He nominated a couple with one dependent and a dual income of $120,000 who purchase a home in 2013, borrowing a total of $800,000.
Their monthly repayments are $4,295 which leaves them $3,680 to manage their other expenses.
Fast forward five years, the couple now has a combined salary of $129,000 and they've had another child.
They're still paying the same amount each month, have $734,600 left to pay off, and would like to refinance to another bank that’s offering a rate of 3.8% rather than staying with their current uncompetitive home loan rate of 5%.
When they first applied for their loan the bank used a poverty line index to estimate their costs ($3,276 per month) with a buffer of 1.5% to ensure the couple could meet their repayments if rates increase.
The bank now uses their actual monthly expenses which they’ve assessed as being $4000 per month, and applies a 2% buffer to safeguard themselves against rate rises.
With the new criteria the couple could only borrow $680,000, so do not have the ability to refinance their loan, leaving them at the mercy of any rate hikes from their bank. 
"If this family was able to refinance to a competitive rate of 3.8%, they could potentially save $149,272 over the course of their loan.
"Due to the loan assessment changes they are unable to refinance to their desired lender,” says Jovcevski noting the banks used to assess potential homebuyers seeking a loan using a ‘house expenditure measure’.
It now looks at the applicant's income and annual expenses - this is everything from utility bills to Netflix subscriptions to monthly beauty treatments.
"Previously, a ‘one size fits all’ approach was applied, with modest expen ses estimated regardless of income, resulting in inflated amounts being lent to hopeful homebuyers." 
</body></html>

Tighter lending means 'mortgage prisoners' on the rise

<html><body>
<div>
CBA, the nation's largest residential property lender, is set to cease its low documentation products.
The bank is removing low doc products for all home owner, investment loan and line of credit applications.
</div>
<div>
<div id="article-inline-ad">Low doc were aimed at self-employed and small business owners who may not have access to the financial statements and tax returns usually required when applying for a home loan.</div>
<div> </div>
<div>"From September we will be streamlining our suite of products to deliver a simplified and competitive range," the spokesman told The Australian Financial Review.</div>
</div>
<div>
<div>
Other products to be removed include the one-year guaranteed rate, seven-year fixed rate, 12 month discounted variable rate, rate saver, three-year special rate saver and no fee loans.
</div>
<div>The changes, to start September 29, follow a decision to spin off its wealth management and mortgage broking business along with overhauling the way it rewards mortgage brokers to emphasise "value rather than volumes."</div>
</div>
<div>
Brokers account for about 43 per cent of CBA's mortgage flows, compared with ANZ's 56 per cent, Westpac's 46 per cent and National Australia Bank's 42 per cent, according to recent independent analysis by Morgan Stanley.
</div>
</body></html>

CBA to stop low doc loans

<html><body>
APRA's release on ADI property exposures for March 2018 shows a $2.5 billion drop in new housing loans approved.
The quarterly Authorised Deposit-taking Institution (ADI) showed the number of housing loans picked up by 2.2 percent, while the average balance of housing loans also increased.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/21/apra3.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/21/apra3.jpg" alt="">
ADI's with greater than $1 billion of residential term loans approved $382.1 billion of new loans in the year ending March 31 2018, a decrease of $1.6 billion on the year ending March 31 2017.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/21/approvals.jpg" target="_blank">to enlarge.</a>
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/21/approvals.jpg" alt="">
Of these new loan approvals, owner-occupied loan approvals, were $259.9 billion, an increase of $10.2 billion from the year ending March 31 2017.
Investment loan approvals went backwards. They dropped by $11.8 billion to $122.2 billion.
$52.6 billion (14 percent) of the approvals had a LVR greater than 80 percent and less or equal to 90 percent.
Interest-only loans dropped significantly. 
There were a total of $75.6 billion IO loans (20 percent), a decrease of $66 billion (46 percent) from the year ending March 31 2017. 
<div class="field field-name-body field-type-text-with-summary field-label-hidden">
<div class="field-items">
<div class="field-item even">
<div>For the <a href="https://www.apra.gov.au/publications/quarterly-authorised-deposit-taking-institution-property-exposures" target="_blank">full APRA report click here.</a>
</div>
</div>
</div>
</div>
</body></html>

jrobinson-rf4aSBido9

$2.5 billion drop in new housing loans in March 2018 quarter: APRA

<html><body>
People power is the only way to send the big banks a message, says RateCity spokesperson Sally Tindall.
New research has revealed the average home loan customer could save $82,000 by switching from a big four bank, to a low rate online lender.
The comparison site RateCity is urging home loan customers unhappy with the behaviour of our major banks to shop around. 
New calculations show a family with a $350,000 loan looking for a fully-featured mortgage, could save up to $82,118 over the life of their loan, by going with the lowest comparable online lender, instead of a major bank.
RateCity spokesperson Sally Tindall said the only way to give the majors a wake-up call is to vote with your feet. 
“The big four banks have an incredible 75 per cent share of the home loan market.
"If you’re fed up with what’s coming out of the Royal Commission, now could be the time to switch.
“Online lenders are increasingly putting fully-featured loan products on the table – at significantly lower rates,” she said.
For example, the big four advertise fully-featured loans for about 4.5 percent, along with a hefty package fee of $395 a year, while some of the smaller lenders are offering fully-flexible loans for as little as 3.49 per cent, complete with a 100 per cent offset account and no ongoing fees.
Low rate online lenders with offset accounts
<img src="https://www.urban.com.au/images/2018/6/6/Low%20rate%20lenders.png" alt="">
 
Roughly 30% of lenders in the RateCity database are online.
Australia’s fifth largest home loan lender is online only (ING).
While nine of the 10 lowest rate lenders in the RateCity database are online lenders.
To find the best home loan for you it is recommended that you use a comparison site such as RateCity.com.au to research online lenders which including ratings for each product, find out what services each provider offers to field customer enquiries, test out their call centre and online chat service as well as reading online reviews, in particular social media feedback and it is of vital importance that they have a comprehensive website, check carefully for hidden fee's or charges as these are big red flags.
Mozo suggest some 7 in 10 home borrowers who have haggled their lender for a better home loan interest rate have received one.
According to research from Mozo.com.au, the comparison site consumers are far more comfortable haggling at the shops on a new fridge or television rather than their home loan, despite seven times the potential savings from home loan haggling, Mozo research has found.  
Mozo research indicates there is little reward for being a loyal mortgage customer unless you are actively pushing for a better deal on a regular basis.  
With 44% of mortgage holders currently on a home loan rate above 4.00%, there is plenty of room to haggle. More than half of the lenders in the Mozo database are now offering a rate under 3.70%. 
</body></html>

Home loan customers can save $82,000 by switching from a big four bank

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
EXPERT OBSERVATION
Housing finance (March)
The number of loans (commitments) by home owners (owner-occupiers) fell by 2.2 per cent in March – the sixth fall in seven months. Loans are down by 3.5 per cent on the year.
The value of new housing commitments (owner occupier and investment) fell by 4.4 per cent in March from six-month highs.
In trend terms the value of loans to budding home owners hit a record high of $21.23 billion in March. Victorian and Tasmanian loans are at record highs.
The proportion of first-time buyers in the home loan market fell from 17.9 per cent to a six-month low of 17.4 per cent (decade-average 17.8 per cent)
The home loan data have implications for builders, housing-reliant businesses, finance providers, retailers, and companies dependent on consumer and business spending.
What does it all mean?
On average, around $21 billion in new home loans are made to budding home owners every month. The figure bobs around from month to month. But overall, there is still healthy interest by Aussies in buying or building their dream home. And that is shown by the trend value of home loans hitting record highs.
In trend terms investment loans are down almost 11 per cent on a year ago with loans to budding owners up almost 5 per cent. There has been a distinct shift in the home loan market. Clearly investors are re-doing sums. The prospect of strong price appreciation for investment properties has moderated in many parts of the country. And then there is the question of getting or retaining tenants.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/11/record%20lending.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/11/record%20lending.jpg" alt="">
Housing market activity has become more sustainable with a fundamental re-assessment occurring on future prospects. Fewer loans are being made to fund new builds. And that means that new home starts will ease in coming months. Work will be harder to get. And building operators may switch interest to commercial and engineering prospects.
What do the figures show
Housing finance – number (March)
The number of loans (commitments) by home owners (owner-occupiers) fell by 2.2 per cent in March – the sixth fall in seven months. Loans are down by 3.5 per cent on the year.
Excluding refinancing of dwellings, the number of loans fell by 1.7 per cent.
Loans by owner-occupiers for the construction of homes decreased by 4.4 per cent – the sixth decline in eight months.
Loans to buy newly-erected dwellings fell by 1.4 per cent after lifting by 6.3 per cent in February.
Loans for the purchase of established dwellings (excluding refinancing) fell by 1.1 per cent – the third fall in four months.
The number of refinancing transactions fell by 3.2 per cent – the third straight fall.
Changes in home loans across the country: NSW (down 2.9 per cent); Victoria (down 1.5 per cent); Queensland (down 0.3 per cent); South Australia (down 8.6 per cent); Western Australia (down 2.3 per cent); Tasmania (up 1.9 per cent); Northern Territory (down 10.4 per cent); ACT (up 2.6 per cent).
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/11/victoria%20lending.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/11/victoria%20lending.jpg" alt="">
Housing finance – value (March)
The value of new housing commitments (owner occupier and investment) fell by 4.4 per cent in March from six-month highs.
Owner-occupier loans fell by 1.9 per cent and investment loans slumped by 9.0 per cent.
The value of loans by owner-occupiers and investors to build new homes decreased by 10.4 per cent in March to a 15-month low of $2.84 billion.
Housing finance – other statistics
The value of cancelled loans totalled $1.3 billion in March, down from $1.4 billion a year earlier.
Commitments actually advanced (loans made) totalled $19.1 billion, down from $19.3 billion a year earlier.
The proportion of first-time buyers in the home loan market fell from17.9 per cent to a six-month low of 17.4 per cent (decade-average 17.8 per cent).
The proportion of fixed rate loans fell from 14.4 per cent to a 12-month low of 14.2 per cent.
And the average home loan across Australia stood at $388,100, up by 5.4 per cent on the year.
What is the importance of the economic data?
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
Housing Finance data is produced monthly by the Bureau of Statistics and shows commitments by lenders, such as banks, to provide finance for housing purposes. The lending figures relate to those looking to buy or build homes to live in as well as those seeking to buy or build homes for investment purposes. Generally people get their finance organised first, so the figures are regarded as a leading indicator on the housing market. 
What are the implications for interest rates and investors?
Investors have adopted a cooler stance on housing. More stock has come on the market, reducing the prospect of out-sized capital gains in the short term. But budding owners are still active. Population continues to rise and more people are finding jobs.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/11/investment-cools.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/11/investment-cools.jpg" alt="">
Builders and real estate agents will need to work harder for business in many parts of the country. Clearly conditions are tough in the Northern Territory. But Victoria and Tasmania remain strong.
CommSec expects interest rates to remain stable until at least November. In fact the first rate hike may now occur in February next year.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

cjames-5S2v74qSNK

Record home loans, but investor demand cools: CommSec

<html><body>
The federal government is offering homeowners over 65 the possibility of a small reverse mortgage.
While tapping the equity in their homes would be seen as a last resort measure, the scheme offers $11,799 per year initially for part-pensioners.
But under the extended scheme anyone over the retirement age can now access equity in their homes without selling, as part of a $258 million package aimed at helping older people to better plan for a "healthy, independent, connected and safe" life in retirement.
There is an interest rate of 5.25 per cent on the loans, considerably below the commercial rates on reverse mortgages which are currently between 6.3 per cent and 6.4 per cent.  
The Pension Loans Scheme was introduced in 1997. 
The measure, which was leaked before last night's Federal Budget, is set to cost $11 million over the next four years, according to the budget papers.
About 1.8 million age pensioners own their home in Australia, according to the budget papers, including 1.1 million full pensioners and 700,000 part-rate age pensioners.
The scheme will attract attention from the elderly with their wealth tied up in property while cash-poor.
Under the new plan, if a 66-year-old took up the proposed offer and lived until 91, he or she could receive a total of $295,000 worth of ongoing payments which would simultaneously be removed from their equity in their home.
Retirees on a full age pension as well as fully self-funded retirees will be able to use equity in their homes to increase the maximum fortnightly income stream to 150 per cent of the age pension, which is about $23,000 a year for individuals. 
Last year Domain noted there are only a few reverse mortgages on offer.
It advised Bankwest Seniors Equity Release Home Loan charges 6.27 per cent and up to the lesser of 25 per cent of the value or $250,000.
CBA's Equity Unlock for Seniors charges 6.37 per cent, and the maximum loan ranges from the lesser of 20 per cent of value or $275,000 for those aged 65 to 69, up to 40 per cent or $450,000 for those 85 and over.
Toowoomba-based Heritage Bank's Heartland Finance Reverse Mortgage Home Loan charges 6.19 per cent, and offers up to 35 per cent at age 80.
P&amp;N Bank, the W.A. bank once known as the Police &amp; Nurses credit union, charges 6.24 per cent and offers up to 35 per cent of the home's value.
</body></html>

Reverse mortgage loan scheme for elderly extended in Federal Budget

<html><body>
Australia's major lenders are set to join the trend towards cutting their interest-only mortgage rates.
Australia's big four have been losing market share to smaller lenders since they needed to meet APRA's 30 percent cap on interest-only loans.
Commonwealth Bank, Australia's largest mortgage lender, has already cut a range of fixed rate interest-only home loans by up to 50 basis points.
The loans range from one to four years.
Matt Comyn, the incoming Commonwealth Bank CEO, recently highlighted plans to rebuild interest-only market share after over-shooting the regulatory 30 per cent target and ending in the low 20s.
Canstar's group executive for financial services Steve Mickenbecker told the Australian Financial Review to "expect others to follow."
Montgomery Investment Management portfolio manager Stuart Jackson told the AFR non-bank financial institution (NBFI) lending appears to have taken up the slack of property buyer demand.
"This is not great news because either the macro-prudential restrictions put (the banks) at a competitive disadvantage to the NBFIs, resulting in ongoing reductions in market share, or the risks to the financial system that the macro-prudential regulations are intended to fix are not addressed due to the shift in lending demand to the NBFIs," Mr Jackson said.
Westpac have selectively began cutting rates while ANZ are also expected to follow.
ING, Macquarie Bank and Virgin Money have reduced rates on their interest-only products, while Bankwest, Homeloans.com and BlueBay Home Loans also recently cut rates.
<div class="cq-article-content-paras section">
 
 
 
</div>
<div class="cq-article-content-paras section">
<h2> </h2>
</div>
</body></html>

jonathanchancellor-7SQnKwU6yx

Banks set to follow CBA mortgage rate cuts to regain marketshare

<html><body><div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-paras section">
The RBA have noted they are aware of the number interest-only loans which were penned before the recent tightening of mortgage lending.
Speaking at the Responsible Lending and Borrowing Summit on Tuesday, RBA assistant governor Michele Bullock said a "large proportion of interest-only loans are due to expire between 2018 and 2022".
Bullock said most of her focus has been on owner-occupiers, who account for around two-thirds of housing debt outstanding.
She said investors have less incentive than owner-occupiers to pay down their debt.
"Many take out interest-only loans so that their debt does not decline over time," Bullock said.
"If housing prices were to fall substantially, therefore, such borrowers might find themselves in a position of negative equity more quickly than borrowers with an equivalent starting LVR that had paid down some principal."
 
<img class="lazy620x0" src="http://www.afr.com/content/dam/images/h/0/w/c/e/g/image.imgtype.afrArticleInline.620x0.png/1519080192171.gif" alt="By early 2017, 40 per cent of the debt did not require principal repayments." width="620">
Bullock said there is always a balance to be struck with lending standards.
"If they are too tight, access to credit will be unreasonably constrained, potentially impacting economic activity and restricting some households from making large purchases that they can afford," Bullock suggested.
"If they are too loose, however, borrowers and lenders could find risks building on their balance sheets which, if large enough, might have implications for financial stability."
 
 
 
 
</div>
<div class="cq-article-content-media section">
<cite> </cite>
</div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section"> </div>
<div class="cq-article-content-slider section"> </div>
<div class="html-entry section"> </div>
<div class="html-entry section"> </div>
</div>
<div class="adWrapper "> </div>
 
<div class="parsys-article-content-bottom parsys"> </div>
</div></body></html>

Home Loans

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Home Loans

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News