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 

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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.
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[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

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In the aftermath of the GFC, a focus on more financial resilience has meant that Australian banks have had to increase capital requirements by strengthening their capital position, primarily through an increase in common equity. 
This has impacted banks’ ROE, encouraging them to tweak their lending activities, according to the RBA’s latest bulletin. 
“One of the most notable ways that banks have been able to reduce their average risk weight, and the effect of higher capital on ROE, has been through a continued shift towards housing lending,” it says.
In 2016, housing credit made up nearly two-thirds of the stock of banks’ domestic credit, up from a bit above half in 2008 and well above the level from a couple of decades ago (Graph 5). 
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Graph5.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Graph5.png" alt="">
According to the bulletin, this long-run trend has been underpinned by factors such as financial deregulation and competition in lending markets, a fall in inflation and an increase in the cost of housing relative to business assets over time. More recently, low interest rates have likely encouraged housing investment and demand for housing credit. 
It said that one reason banks have accommodated the strong demand for housing credit may have been that housing lending has been able to generate higher ROE than other types of lending, because the lower risk weight applied to mortgages has not been fully offset by narrower credit spreads.
Some banks have also been scaling back lending activities that are more capital intensive but do not generate sufficient returns (for the amount of capital required). 
Banks have also repriced their loans, mostly housing loans, in response to higher capital requirements.  
“Since mid 2008, the cash rate has declined by 575 basis points while housing lending rates have declined by around 390 basis points (Graph 6). While part of the widening in this spread has been due to a rise in banks’ funding costs relative to the cash rate, the implied spread between banks’ mortgage lending rates and their funding costs has still increased by around 110 basis points. 
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Graph6.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Graph6.png" alt="">
“Part of this increase in spreads reflects efforts by banks to offset the costs associated with using more equity to fund lending as capital requirements have increased,”  it said.
The remainder likely reflects banks’ efforts to offset the impact on their earnings from new regulations requiring them to hold a greater amount of HQLA, which typically have a yield that is less than the cost of funding (as discussed below). 
More recently, banks have increased their lending rates on investor and interest-only loans, relative to those on amortising owner-occupier loans, in response to regulatory tightening.
Stronger capital and liquidity positions improve banks’ resilience against adverse shocks. 
However, such changes can also affect their funding costs and key profitability metrics. 
These changes have included a continued shift towards housing lending, a scaling-back of capital-intensive and lower-return lending, and a repricing of loans. 
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jonathanchancellor-7SQnKwU6yx

Tighter regulation has made banks tweak lending practices, increase mortgage lending: RBA bulletin

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ANZ has announced a five basis point reduction in variable interest rates for customers paying principal and interest on home loans, effective 16 June. 
The bank’s standard variable rate for owner-occupiers is at 5.20 percent/pa.
Customers with an investor loan paying principal and interest will receive a five basis point reduction on their standard variable rates.
Variable interest-only home loan rates for investors and owner-occupiers will increase 30 basis points, which the bank says is in response to regulatory and market condition.
Fred Ohlsson, ANZ Group Executive Australia said many Australians are finding it difficult to manage household budgets at present and ANZ is pleased to be able to reduce rates for the majority of our customers who are working hard to pay off their homes.
“While we know those only paying interest on their loans will be disappointed, we need to manage our regulatory obligations and we are now required to hold additional capital against our home loans. We also need to better balance our portfolio towards those paying off their homes," he said.
“There are clear benefits for our customers to be paying off their loans and we have made this as easy as possible by removing fees associated with moving across from interest-only loans.
“Today’s decision is not in response to the recently announced bank levy and we are still to determine the final impact of the tax.
“We do however recognise the work regulators are doing to manage the growth of both investor and interest-only loans and we will continue to be transparent on the impact this will have on how we structure and price our home loan products,” he said.
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Screen%20Shot%202017-06-09%20at%2011.49.29%20AM.png" target="_blank">Click to enlarge</a>
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ANZ reduces rates on principal and interest home loans

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The prospect of rising interest rates has more borrowers wanting to lock into fixed-rate loans, says a new study. 
More than a third of Aussies (35.5 per cent) looking to take out a home loan would go for a fixed-rate loan, according to Gateway Credit Union. The split rate option was favoured by 34 per cent and the variable rate by 30.7 per cent. 
And over half of those surveyed said they would be in it for the long haul — choosing to fix their home loan rate for five years.
The sentiment for fixed loans is high in spite of the Reserve Bank of Australia keeping interest rates on hold and at a record low for the past several months. Banks, however, have been making out-of-cycle home loan rate increases, citing tough regulatory environment.
Of the major cities, Brisbane residents are the second most likely in the country to want to fix their mortgage after Sydneysiders, with 35.1 per cent saying they would choose a fixed rate home loan over a variable or split option, the www.realestate.com.au reported citing The Courier Mail.
The news comes after Mortgage Choice’s national home loan approval data found Queenslanders were the keenest on fixed rates, with 24.74 per cent of all March loans being locked in.
As to the preferences by age, the younger generation (18 to 29 year olds) are more inclined to take out a fixed rate home loan, followed by the 50 plus age bracket.
Gateway CEO Paul Thomas was cited in the article saying speculation around changing market conditions had rattled borrowers.
“We know property prices are sky high, compound that with low wage growth, high levels of household debt and out of cycle rate hikes and you can expect that consumers might be worried about maintaining a loan, especially if they have no control over repayments because of a fluctuating rate,” Thomas said.
“Borrowers have enjoyed low rates for quite some time but the results suggest that we may be in for tougher times ahead.”
These findings suggest borrowers think that once rates start to shift upwards they won’t be coming back down again for some time, he added.
Borrowers would do well to consider fixing part, or all, of your home loan. 
Omniwealth’s Andrew Zbik suggested borrowers take several steps, such as building a cash buffer, having an offset account and budgeting carefully.
Zbik said he suggests to clients to have at least six months of expenses put aside as a cash buffer.
“This will help to shield you from any immediate increases in interest rates and give you time to adjust any spending commitments,” he said. 
According to the RBA, only one-in-three households have enough cash on hand to meet one month’s mortgage payments.
Offset accounts are another way to put your surplus cash to work, Zbik said. Your savings and everyday cash flow will be used to reduce the repayments on your home loan. For example, if you have $100,000 of loan outstanding and you have $10,000 in the offset account, the bank will only charge you interest on the $90,000.
He also suggested disciplined budgeting using automatic budget tracking programs such as Moneysoft or MoneyBrilliant.
“Knowing where you spend your money will help you to prepare for where interest rates need to be before cashflow gets tight,” he added.
 
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More borrowers favouring fixed-rate loans

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GUEST OBSERVER
Aussies are missing out on savings of up to $3,184 a year by shunning online lenders in favour of the big banks according to financial comparison site Mozo.com.au.
A nationally representative survey conducted by Mozo found Aussies are less likely to apply for a home loan online than other financial products despite the huge savings on offer.
“Our research shows while more than half of consumers are comfortable taking out car insurance, credit cards and personal loans online, just 27 per cent would consider doing the same for a home loan,” says Mozo Director Kirsty Lamont.
“Surprisingly, less than half of consumers would consider getting a home loan with an online lender despite the majority saying the main drawcards of signing up with an online lender are cheaper interest rates and lower fees.”
Mozo compared 504 home loans from 89 providers to identify Australia’s best value home loans for its annual Mozo Experts Choice Home Loan Awards, and found that nearly two thirds of the best value home loans on the market are from online lenders.
“We found that online lenders are on average 0.70% cheaper than the Big 4 banks for a typical loan of $350,000 over 25 years. When you look at the room for savings, it’s well worth looking beyond the traditional bricks and mortar lenders.”
Mozo found the biggest barrier to Aussies getting a home loan online is their lack of familiarity with online lenders, with 56 per cent saying they simply don’t know enough about them.
“Unfamiliarity with online lenders is stopping borrowers from accessing better home loan deals,” says Lamont. “Many online lenders are able to pass on significant cost savings to consumers because they have fewer overheads than traditional banks.”
<a href="https://www.propertyobserver.com.au/images/2017/05/24/MOZO%202.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/24/MOZO%202.png" width="700" height="343">
The research shows more males than females would consider applying for a home loan online, while females were more likely not to borrow from an online lender because they didn’t know enough about them.
Of those who said they would apply for a home loan online, half are between the ages of 25 and 44, which indicates that Gen X and Y are more comfortable applying for a home loan online than other generations.
In addition to lack of familiarity, 43 per cent of consumers say they avoid shopping online for a home loan because they’d prefer to discuss their needs face to face with a mortgage expert.
“Seeking expert advice from a third party might be a valuable service in navigating the mortgage application maze but this could come at a steep price if borrowers neglect to do independent research beforehand,” says Lamont.
“Many borrowers who go through a bank or mortgage broker often don’t get to see the full spectrum of offers available and may be unsure of what rates are available elsewhere, especially in the online space.”
Online lenders iMortgage, loans.com.au and UBank were among the major winners in this year’s Mozo Experts Choice Awards, while Homestar was named the Non-Bank Home Lender of the Year after raking in mentions across five home loan categories.
<a href="https://www.propertyobserver.com.au/images/2017/05/24/MOZO%20-3.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/24/MOZO%20-3.png" width="700" height="417">
Kirsty Lamont is the director of <a href="https://mozo.com.au" target="_blank">Mozo.com.au</a>
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Borrowers lose over $3,000 in annual savings by shunning online lenders: Kirsty Lamont

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The seasonally adjusted number of home loans ticked down moderately by 0.5 percent to 54,468 in March 2017.
However the average loan size increased solidly, so combined with a modest 0.8 percent increase in investment lending to $13 billion total housing finance increased by 0.9 percent to $32 billion in the month. 
Headlines variously and confusingly described the result as stronger, growing, dropping, and on the slide.
But at the national level at least, the trend has been pretty flat. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A1.jpg" target="_blank">Click 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/2017/05/15/A1.jpg" alt="">
APRA only announced its latest round of curbs on interest-only lending at the end of the month of March, so the true impacts thereof will only be seen in the coming months.
However, the figures do suggest that lenders were already applying the brakes to investor loans to some extent before the regulatory announcement.
The average loan size for first homebuyers increased from $308,900 in February to $316,300 in March.
Meanwhile the average loan size for non-first homebuyers lifted from $360,600 to $375,800 in the month, though remaining some way below the record highs of 2015.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A3.jpg" target="_blank">Click 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/2017/05/15/A3.jpg" alt="">
The figures for new dwelling purchases by owner-occupiers were partly revised for 2012 and 2013, giving the below chart an altogether different feel than it had previously.
Some upbeat news for the housing market is that the number of new dwelling purchases by owner-occupiers has surged to the highest level since June 2007. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A4.jpg" target="_blank">Click 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/2017/05/15/A4.jpg" alt="">
Looking around the traps, both the number and value of home loans has continued to trend down in Western Australia. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A2.jpg" target="_blank">Click 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/2017/05/15/A2.jpg" alt="">
I'll take a look at investor loans by state on Wednesday this week.
First homebuyers flounder
The number of first homebuyer loans jumped by 20.5 percent to 7,946 in March from 6,596 in February, although this was largely a seasonal move.
The annual number of first homebuyers has trended steadily down since 2014, when the market had stabilised after the first homebuyer stimulus was withdrawn. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A5.jpg" target="_blank">Click 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/2017/05/15/A5.jpg" alt=""> 
Many prospective first homebuyers in Sydney have opted to buy investment properties instead in the face of such a challenging market, and this is reflected in the decline in activity in New South Wales. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/A6.jpg" target="_blank">Click 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/2017/05/15/A6.jpg" alt="">
The annual number of first homebuyers in Western Australia has also declined by 28 percent since October 2013 despite falling prices in the state's capital city, although there was perhaps the first hint of a bounce in March. 
The wrap
Overall this was a pretty solid result for housing finance in March, but since the figures pre-date APRA's latest round of curbs it will be more important to follow what plays out in the coming months. 
Developers will be somewhat heartened to see the number of owner-occupier commitments to buy new dwellings rising close to their highest ever level in recent months. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Housing finance steady pre-APRA: Pete Wargent

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The value of all housing-related lending increased by 0.9 percent in March and annual growth lifted to 5.3 percent.
The value of housing loans to owner-occupiers (excl. refinancing) rose by 1.7 percent and annual growth stepped up to 6.4 percent. 
The value of loans to investors rose by 0.8 percent in March.
Total lending for dwelling-related construction lifted by 4.5 percent and has stabilised in trend terms over the past 4 months. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-16%20at%208.29.14%20AM.png" target="_blank">Click to enlarge</a>
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Overall lending conditions in the housing market remained firm in March, consistent with both strong auction clearance rates and robust dwelling price growth. Key details below: 
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Owner-Occupiers (O-Os): Lending growth to O-Os (ex-refinancing) by value 12 has risen for five of the past six months. 
The monthly growth rate averages out at a solid 1.3 percent over that period. By number, however, a 0.5 percent fall was recorded 9 following a 0.8 percent contraction in February. 
A small lift in the average loan size was posted. Surprisingly, the average loan size to O-Os has trended down since late 2016 despite dwelling prices firming. The anomaly is explained, in part, by the big influence that investors and foreign buyers have had on price growth in both Sydney and Melbourne. 
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Investors: The value of lending to investors moved a little higher in March after a solid 5.7 percent contraction in February. It looks like growth in the flow of lending to investors has eased after accelerating markedly throughout 2016 as the RBA eased policy twice. Notwithstanding, lending growth to investors was 14.2 percent higher through the year in March. 
We expect to see lending growth to this segment moderate in coming data prints as some tightening in lending conditions to investors has an impact on the flow of credit. We do note, however, that the national auction clearance rate firmed on the weekend to 76.2 percent on stronger volumes. This suggests that there is still a fair bit of positive momentum in the property market. 
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-16%20at%208.30.18%20AM.png" target="_blank">Click to enlarge</a>
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Construction: Total lending for dwelling-related construction has broadly tracked sideways over the past four months. There is still plenty of residential construction to come. Commencement and completions will remain firm throughout 2017 which will help to boost the supply of new dwellings. Lending for alterations and additions lifted in March and has been trending higher. This is consistent with other indicators that show renovation activity is lifting 
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States: The data on O-O loans by State showed that annual growth in the number of loans has tracked broadly sideways in NSW, Vic and QLD. The number of loans to O-Os in WA continues to trend lower. An update on lending to investors by State will be in Wednesday’s Lending Finance release.
First home buyers: The number of loans to first home buyers posted a big 20.5 percent lift in March. Notwithstanding, first home buyers accounted for just 13.6 percent of all O-O dwellings financed over the month which is very low by historic standards. 
Note that the March housing finance figures predate APRA’s latest round of measures to mitigate risks in the mortgage lending market (announced 31 March). 
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905">here</a>.
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jchancellor-FAypfDUnLy

Overall lending growth in the housing market remained firm in March: Gareth Aird

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Financial comparison site RateCity.com.au will be hosting Australia’s first industry home loan sale from Monday 8 May to 10pm Tuesday 9 May, offering refinancers exclusive deals and potential savings of up to $39,000 for customers of the big banks.
Lasting for only 40 hours, the Switch &amp; Save Sale will see eight home loan lenders come together to slash fees, offer cashbacks and cut rates.
Pre-registrations for the sale opened last week.
RateCity.com.au Money Editor Sally Tindall said there had been a huge influx of traffic to the site.
“Some of these deals could potentially sell out. 
“Our research shows that the average mortgage holder could save up to $39,000 on a 15- year loan,” she said.
“There are no up-front obligations, and customers have up to 30 days to take advantage of the discounted offer, provided they register within the initial 40-hour period,” she said.
RateCity’s Switch and Save Sale includes well-known banks such as ING Direct and HSBC, alongside competitive lenders such as Mortgage House, Reduce Home Loans, loans.com.au and IMB.
Ms Tindall said the climate was ripe for refinancing.
“With banks putting up rates out of cycle, alongside comparatively low wages growth, mortgage repayments are starting to pinch.
"Refinancing isn’t as hard as people might think,” she said.
The sale runs from 6am (AEST) Monday 8 May to 10pm (AEST) Tuesday 9 May 2017. 
For more information, <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_text&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969003" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

RateCity home loan sale gives Australians the incentive to switch

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<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/2017/05/04/ratecity-logo.jpg" alt="" width="563" height="151">
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In this fast-changing mortgage environment, it can be hard for investors know whether to wait things out or alter their home loan now before conditions further evolve.
Many investors regularly refinance and restructure so they can unlock equity and maximise their tax position – but do old strategies still apply in this new environment?
Things became serious on 31 March, when APRA responded to the “heightened risks” in the mortgage market by tightening lending criteria.
These latest measures – which followed a first round of tightening that began in December 2014 – were “aimed at improving the quality of new mortgage lending generally and moderating the growth of investor lending in particular”.
As a result, it has become harder for investors to qualify for mortgages – particularly interest-only loans, and even more so interest-only loans with an <a href="https://www.ratecity.com.au/home-loans/lmi-calculator">LVR</a> above 90 percent.
Even before APRA’s announcement, lenders had been making life harder for investors by increasing rates and serviceability requirements.
This column won’t hand out financial advice – only a broker or planner or accountant can do that, but if anyone does want to refinance, they have now been given a opportunity that has never been seen before in Australia.
RateCity has created the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article1&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a> to allow borrowers to access market-leading rates while refinancing.
Borrowers who are with ANZ, Commonwealth Bank, NAB or Westpac could actually save up to $39,000 over 15 years by switching through the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article1&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.
RateCity arrived at that figure after calculating how much borrowers would save if they switched from an average-sized mortgage from the average discounted variable rate offered by one of the big four banks to the lowest variable rate in the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article1&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.
It’s impossible to say how APRA might act in the future – but the regulator made it clear back on 31 March that further changes might be on the cards.
“APRA will continue to observe conditions in the residential mortgage lending market, and may adjust the above measures, or implement additional ones, should circumstances warrant it,” it said in a <a href="https://www.apra.gov.au/MediaReleases/Pages/17_11.aspx" target="_blank">media release</a>.
As far as investors are concerned, the fast-changing mortgage environment might have some more surprises in store. 
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Is now the time to refinance your investment property? RateCity

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There are a lot of reasons why Australians don’t refinance their home loans.
Some borrowers worry that switching lenders will take too much time, or require too much effort. Many home owners also feel that the benefits of switching lenders won’t ultimately outweigh the costs involved when refinancing.
Let’s take a closer look at the cost of switching lenders, and how to determine whether refinancing a home loan will ultimately be worth it.
How much does it cost to refinance?
The costs you may encounter when refinancing can vary, depending on the lenders involved and your financial situation. These costs can include:
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<li>Discharge fees (average: $250) – when you end your current loan, you may have to pay a discharge fee to cover the lender’s admin costs. Discharge fees are different from exit fees, which were banned in July 2011, though if your home loan started before this date, they may still apply.</li>
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<li>Upfront costs (average: $400) – these include establishment fees, valuation fees and settlement costs.</li>
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<li>Break fees - if your current home loan is on a fixed rate, you could be charged expensive fees if you exit the loan early. These fees are often based on how much variable rates have dropped.</li>
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<li>Lender’s title insurance for fast track refinance ($500-$3000) – only charged if you opt for an accelerated refinance, this keeps the lender covered in case of problems during the fast-track process.</li>
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<li>Lender’s mortgage insurance or LMI (varies depending on circumstances) – only required if you’re unable to fulfil the new lender’s minimum loan-to-valuation ratio (LVR) requirements, usually 80 per cent. For example, for a $600,000 loan, you’d usually need to provide a minimum $120,000 security deposit to avoid paying LMI.</li>
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Keep in mind that you may not always need to pay every switching cost when you refinance. Some lenders may be willing to negotiate some of their fees and charges, or even waive them altogether to attract your business.
Breaking even
Once you know how much refinancing a home loan is likely to cost you in fees, charges and other expenses, it’s time to consider how long it will take before the savings from your new loan will make up for these costs.
Using RateCity’s home loan calculator, you can estimate the minimum repayments required by your new lender. By comparing these repayments to your old ones, you’ll know how much you could save on your mortgage each month, and from there how long it will take for these savings to cover your switching expenses. 
For example, if your current mortgage is $600,000 on a 5 per cent interest rate with 20 years of repayments left, your current monthly repayment would be $3960. If you refinance onto a 3.64 per cent interest rate, you could reduce your monthly repayment to $3520 – a saving of $437 per month.
Assuming a switching cost of $1000 (a discharge fee of $300, application fee of $600 and settlement fee of $100), it would take you approximately 65 days to break even.
Also, if you could afford to keep paying the original monthly repayment of $3960, you would pay off more of your loan’s principal each month, ultimately reducing your loan term to 16.9 years. This would in turn reduce the amount of interest you’d have to pay, resulting in an average monthly saving of $688. This would allow you to break even on your switching costs in as little as 45 days.
When you consider that it’s possible to save an average of $39,000 on an average Australian home loan simply by refinancing with the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article5&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">RateCity Switch &amp; Save Sale</a>, the REAL cost of refinancing could come from not switching lenders soon enough!
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The real cost of refinancing: RateCity

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<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/2017/05/04/ratecity-logo.jpg" alt="" width="679" height="182">
SPONSORED POST
Limiting yourself to the big four banks is like deciding to holiday only in your home town – you might have good experiences but you’ll miss out on so, so much.
That is not to criticise ANZ, Commonwealth Bank, NAB and Westpac, which are good banks. But they represent just a fraction of the offerings in the mortgage market. 
Statistics show the big four’s dominance: they provided 82.6 percent of all the mortgages that were sold in March, the most recent month for which statistics are available.
However, there are three good reasons why you should follow the lead of the 17.4 percent and use a non-major lender. 
1. They have cheaper rates 
Imagine you wanted to borrow $500,000 to purchase a $625,000 property. According to a recent search on <a href="https://www.ratecity.com.au/home-loans?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">RateCity</a>, non-major banks had 28 of the 30 cheapest advertised rates for owner-occupiers and 25 of the 30 cheapest rates for investors.
That’s not to say borrowers should never use the big four banks – there will definitely be occasions when one of their products is the best option. And that’s not to say borrowers should always take the lowest rate – there will definitely be occasions when a higher-rate product actually represents better value.
However, if a non-major lender has a loan that’s appropriate to the borrower’s circumstances and is also cheaper, the borrower could save tens of thousands of dollars over the life of the loan.
2. They give better service
Australians get better service from smaller lenders, according to the Roy Morgan Consumer Banking Satisfaction Report for the six months to March. The non-major banks achieved an average customer satisfaction rating of 86.1 percent, compared to 80.0 percent for the big four. The customer-owned mutual banks led the way with a rating of 91.0 percent.
There are two reasons why smaller lenders offer better service. First, they know they have no chance of beating the big boys unless they try harder. Second, they’re not massive, bureaucratic organisations, which means they can move faster and be more personalised.
3. They’re safe
Australia’s smaller banks are regulated by the Australian Prudential Regulation Authority (APRA), while non-bank lenders are regulated by the Australian Securities and Investments Commission (ASIC). Those regulators work together to safeguard Australia’s financial system and ensure lenders follow responsible lending rules. 
The other point worth mentioning is that it is the lender, not the borrower, that assumes the risk. If the hypothetical borrower mentioned above took out a $500,000 mortgage and the lender then collapsed, it would be the lender, not the borrower, that would be in trouble.
Nobody can unilaterally alter the terms of a legal mortgage contract, so the borrower’s mortgage would remain unchanged. The only difference is that the borrower would make their repayments to a different party – either a new lender (if the distressed lender found a buyer) or the liquidator (if it didn’t). So, even if the smaller lender went under, your home loan will be safe. 
Thinking of switching?
If you’re curious about refinancing with a non-major lender, RateCity has made the process easier with its <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article3&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>, which will help you refinance to a cheaper rate.
If you have a mortgage with ANZ, Commonwealth Bank, NAB or Westpac, you could save up to $39,000 over 15 years by refinancing during the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article3&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.
RateCity arrived at that figure after calculating how much borrowers would save if they switched from an average-sized mortgage from the average discounted variable rate offered by one of the big four banks to the lowest variable rate in the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article3&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.
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