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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</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

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While it's possible to borrow money at significantly lower rates than reported here, mortgage rates have nudged higher over the last couple of months. 
Government bond yields have also crept steadily higher. 
<a href="https://www.propertyobserver.com.au/images/2017/02/09/RBA1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/09/RBA1.png" alt="">
In fact the 10-year bond yield had dropped well below 2 percent in the second half of 2016, but has since staged a strong rebound to sit around 2.70 percent. 
<a href="https://www.propertyobserver.com.au/images/2017/02/09/RBA2.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/2017/02/09/RBA2.jpg" alt="">
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

Mortgage rates nudge higher: Pete Wargent

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How young home buyers will repay mortgages and what credit they have against their property for retirement will be part of a quiz Westpac will use as part of their new lending policies.
According to the Australian Financial Review, who obtained internal banking documents, banks and mortgage brokers are to record comments in notes for review.
"These conversations help to ensure your clients have considered any loan commitments they may have in retirement, and they are comfortable with the products they will hold with us when they reach retirement," the internal documents read.
"Retirement inquiries need to be asked and recorded at application.
"Evidence of retirement strategies, such as superannuation balances, future rental income, use of investments, will not be required."
The new lending practice, in place from February 20, will require baks and brokers to ask when they plan to retire and how they plan to service their loan, or repay it in full, during their retirement.
A Westpac spokesperson told the Australian Financial Review the bank "won't speak to home loan applicants about their retirement plans unless they are aged 55 or over - at the time of the loan application - they will turn 75 during the loan term, or they otherwise tell us they are planning to retire within the foreseeable future."
 The spokesperson said the question only applies to new loans and that it did not "make presumptions about a customer's financial circumstances and assess all loan applications on an individual basis."
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jonathanchancellor-7SQnKwU6yx

Westpac quizzes young home buyers on retirement plans

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Home loans rates began to rise towards the end of the December quarter, despite no change to the RBA cash rate according to RateCity. 
About two-thirds of lenders raised fixed rates while a smaller number of lenders lifted variable rates with more hikes set to follow in 2017, according to comparison website RateCity’s Rates of the Nation report.
Longer-term fixed rates are sitting higher than variable rates and rising by the biggest margins, which indicates that banks don’t expect low rates will last forever. 
"Previously, banks were betting on lower rates in the future but we saw those expectations change daily during the past quarter," according tot Peter Arnold, data insights director of RateCity.com.au.
Fixed rates under 4 percent fell by 15 percent over the quarter; that’s around 100 less sub-4 percent fixed rates on offer now compared to three months ago, the report says.
<a href="https://www.propertyobserver.com.au/images/2017/01/12/RateCityIntRatesMoves.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/12/RateCityIntRatesMoves.png" alt="">
Consumers responded quickly by shifting towards fixed rates. 
<a href="https://www.propertyobserver.com.au/images/2017/01/12/RateCityFixedvsVar.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/12/RateCityFixedvsVar.png" alt="">
"Consumers should expect more rate rises... While there are still plenty of home loan rates under 4 per cent, those deals are less prevalent now. It’s unlikely that we’ll see rates return to the long term average of around 7 percent just yet, but competition at the low-rate end of the market is slowing," Arnold adds.
Fixed home loan rates - Under 4 percent getting harder
<a href="https://www.propertyobserver.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%2011.40.14%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%2011.40.14%20AM.png" alt="">
 
Distribution of variable rates
<a href="https://www.propertyobserver.com.au/images/2017/01/12/VariableLoans.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/12/VariableLoans.png" alt="">
According to RateCity's website, below is a snapshot of some of the popular home loan products:
<a href="https://www.propertyobserver.com.au/images/2017/01/12/RateCityPopularLoans.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/01/12/RateCityPopularLoans.png" alt=""> 
 
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prateek24-ezbwHMbNAk

More home loan rate hikes expected in 2017: RateCity report

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National Australia Bank (NAB) and realestate.com.au have announced a five year partnership aimed at combining the property search with securing finance.
“By partnering with NAB, we are building a truly innovative solution that will marry property search and property finance,” said Tracey Fellows, CEO of REA Group, which operates realestate.com.au.
“We will be assisting home buyers throughout their entire property journey, whether it be buying, renting, investing or selling.”
Anthony Cahill, COO at NAB, said that the partnership would combine online property searching and home lending in a manner unseen both nationally and globally.
“We’re combining our respective expertise to deliver more to Australian property buyers and create a game-changing experience,” he said.
With the partnership just announced, details on the exact products to be offered have yet to be announced.
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j.ballantyne1990-6AQqhLzZaK

Realestate.com.au website partners with NAB to offer home loans

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Home loan providers in Australia are selling mortgage bonds at the slowest pace in four years.
Its suggested they are seeking cheaper debt that doesn’t require collateral.
Some A$14.8 billion ($11 billion) of new residential mortgage-backed securities have been issued so far in 2016 by banks and other housing lenders, 36 percent less than at this stage last year, data compiled by Bloomberg show.
Mortgage-backed bond issuance by the country’s four biggest banks has halved to A$3.58 billion from A$7.85 billion last year.
Issuance by other banks, building societies and credit unions has also declined to just A$4.12 billion from A$10.4 billion.
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Home loan mortgage bonds at slowest pace for four years

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The market share of new residential home loans originated by brokers and aggregators increased to 53.7 percent in the first quarter this year, according to a new report by the Mortgage &amp; Finance Association of Australia (MFAA).
This was an increase of 1.9 percent from the previous quarter and represented an average growth rate of 21.5 percent over the prior three years.
But the total value of broker-originated loans across the country dropped by 1.5 percent to just over $92 billion in the six months prior to the end of March 2016.
The Australian Broker website also reported the size of the broker community grew by 6 percent to 14,379 from September 2015 to March 2016, based on information gained by the MFAA from Australia’s 13 biggest aggregators.
The 13 aggregator groups make up 95 percent of the industry, making around 15,000 brokers in Australia.
NSW accounted for 42 percent of all new lending originating from brokers despite only having 35 percent of the total national broker population.
 
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Mortgage brokers secure higher home loan market share: MFAA

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Bankwest customers are now able to check the details and status of their home loan application using a real-time, 24/7 online service.
Bankwest’s Andrew Whitechurch said the Application Tracker app had been developed by working directly with customers to understand their needs.
"Customers increasingly expect all organisations, including banks, to be flexible, digitally-connected and more responsive in helping them achieve what matters," he said.
The Application Tracker is a web-based tool designed to keep customers informed throughout the home loan application process from the time the application is lodged, through approval and right through to their first repayment. 
"By listening directly to our customers we found that while they love person to person interaction, in a rapidly evolving digital world they also expect to be able to track the progress of their home loan themselves via digital channels, and to be kept up to date immediately at key points throughout the process," said Whitechurch.
"Customers’ expectations about service and access to information on-line, is being shaped by their experiences in other industries."
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Bankwest launches real-time home loan application app

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A confidential National Australia Bank borrowers’ blacklist of more than 600 towns and suburbs across Australia has emerged where it has capped lending to property buyers.
It is because of what the bank sees as continued or growing risks in the housing market.
The listed has 120 postcodes across the nation will need a larger deposit of as much as 30 percent to be eligible for a loan “to ensure that we are lending responsibly and sustainably”, according to internal documents used by the bank to explain its change in strategy to mortgage brokers.
NAB’s list is divided into A category postcodes, where loan-to-value ratios are capped at 70 percent, and B category, where it is 80 percent.
Rural Western Australia, South Australia, Northern Territory and Queensland are most affected, with buyers needing a 30 percent deposit to qualify for a loan.
Those wanting to by an inner city apartment in many suburbs in Brisbane, Sydney and Melbourne will need a 20 percent deposit.
Group A 70 percent LVR
WA
6390 Boddington*
6429 Coolgardie*
6436 Menzies, Ularring
6437 Leinster, Sir Samuel
6438 Leonora, Lake Darlot
6440 Bandya, Beadell, Cosmo Newberry, Lake Wells, Laverton, Neale
6442 Kambalda East and West
6442 Meekatharra*
6646 Wiluna, Lake Carnegie, Little Sandy Desert
6710 Cane, Onslow, Peedamulla, Talandji, Yannarie
6713 Dampier
6714 Antonymyre, Balla Balla, Banynton, Bulgarra, Burrup, Cleaverville, Cooya Pooya, Gap Ridge, Gnoorea, Karratha, Karratha Industrial Estate, Maitland, Mardie, Millars Well, Mulataga, Nickol, Pegs Creek, Sherlock, Stove Hill
6716 Pannawonica*
6718 Roebourne, Whim Creek
6720 Cossack, Point Samson, Wickham
6721 Port Hedland*
6722 South Hedland*
6725 Eighty Mile Beach*
6728 St George Ranges*
6751 Tom Price*
6753 Newman
6754 Paraburdoo
6758 Nullagine
6760 Marble Bar
QLD
4413 Auburn*
4415 Columboola*
4420 Baroondah*
4455 Wycombe*
4521 Mount Pleasant*
4581 Eurong, Fraser Island, Inskip, Rainbow Beach
4660 Apple Tree Creek*
4674 Oyster Creek*
4678 Bororen, Foreshores, Rodds Bay, Turkey Beach
4680 Gladstone*
4715 Mount Murchison*
4717Blackwater
4720 Emerald, Yammala
4737 Sarina*
4738 Ilbilbie, Koumala
4740 Beaconsfield*
4741 Mount Ossa*
4742 Burton, Eaglefield, Elphinstone, Hail Creek, Kemmis, Mount Britton, Nebo, Oxford, Strathfield, Turrawulla, Valkyrie
4743 Suttor, Glenden
4744 Moranbah
4745 Cotherstone, Dysart
4746 May Downs, Middlemount
4800 Conway*
4804 Collinsville, Mount Coolon, Mount Wyatt, Newlands, Scottville, Springlands
4805 Bowen*
4820 Campaspe*
SA
5600 Whyalla, Whyalla Playford
5601 Point Lowly*
5608 Whyalla Norrie, Whyalla Stuart
5609 Whyalla Jenkins
5725 Olympic Dam, Roxby Downs NT
0885 Alyangula
TAS
7030 Brighton*
7155 Kettering
7467 Queenstown, Lake Margaret
7468 Macquarie Heads, Strahan
7469 Zeehan, Trial Harbour, Renison Bell, Granville Harbour
7470 Rosebery
Group B 80 percent LVR
NSW
2000 Barangaroo, Dawes Point, Haymarket, Millers Point, Sydney, The Rocks
2008 Chippendale, Darlington
2017 Waterloo, Zetland
2019 Banksmeadow, Botany
2037 Forest Lodge, Glebe
2067 Chatswood
2112 Denistone East, Putney, Ryde
2118 Carlingford
2127 Newington, Sydney Olympic Park, Wentworth Point
2140 Homebush
2141 Berala, Lidcombe, Rookwood
2142 Camellia, Clyde, Granville, Holroyd, Rosehill
2144 Auburn
2146 Toongabbie
2150 Harris Park, Parramatta
2153 Baulkham Hills, Bella Vista, Winston Hills
2166 Cabramatta, Canley Vale, Canley Heights, Lansvale
2168 Ashcroft, Busby, Cartwright, Green Valley, Heckenberg, Hichinbrook, Miller, Sadleir
2194 Campsie
2195 Lakemba, Wiley Park
2199 Yagoona
2205 Arncliffe, Turella, Wolli Creek
2208 Kingsgrove
2209 Beverly Hills, Narwee
2210 Lungarno, Peakhurst, Riverwood
2211 Padstow
2220 Hurstville
2222 Penhurst
2566 Varroville, Bow Bowing, Minto, Raby, St Andrews
2767 Bungarribee, Doonside, Woodcroft
2769 The Ponds
VIC
3000 Melbourne CBD
3004 St Kilda Road Central
3006 South Bank, South Wharf
3008 Docklands
3067 Abbotsford
QLD
4000 Brisbane City, Petrie Terrace, Spring Hill
4006 Bowen Hills, Fortitude Valley, Herston, Newstead
4010 Albion
4032 Chermside,
4101 Highgate Hill, South Brisbane, West End
4102 Dutton Park, Woolloongabba
4215 Labrador, Southport
SA
5000 CBD Adelaide
5001 CBD Adelaide
WA
6000 Perth CBD
6003 Highgate, Northbridge
6004 East Perth
6005 Kings Park, West Perth
6100 Burswood, Lathlain, Victoria Park
6103 Rivervale NT
800 Darwin
* = and surrounds
“NAB takes into account a range of economic factors, and regularly monitors the performance of local markets to ensure we continue to lend responsibly and sustainably,” a bank spokesperson told The Australian Financial Review.
“We recognise that no two suburbs are the same, and there are some geographic areas across Australia which have been impacted by local economic conditions.
"As a responsible lender, we adopt strategies in these geographic areas that seek to reduce the risk to our customers and our business.”
The bank is still lending to borrowers in the named suburbs.
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The 600 suburbs where the NAB requires more than a 10 percent deposit for home loans

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<div id="post-body-9168898991581718703" class="post-body entry-content">
<div>The ABS produced its muchly awaited revised first home buyer numbers yesterday. </div>
<div> </div>
<div>As flagged previously, the numbers are a bit lower than previously reported, although the month to month movements remained broadly consistent with what we have already seen. </div>
<div> </div>
<div>The statistics more or less confirm what we already knew: that there are fewer first homebuyer loans being written than there were in the lead up to the financial crisis (though actually not that many fewer Australia-wide). </div>
<div> </div>
<div><a href="/images/2016/10/12/B1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="/images/2016/10/12/B1.jpg" alt=""></div>
 <div>Unfortunately the figures don't shed any light on how many first-time buyers have elected to buy an investment property instead of a home (which the NAB survey implies more than accounts for the downward shift in first homebuyer numbers). </div>
<div> </div>
<div>And nor does these series cover first homes bought without finance i.e. for cash, thanks to the so-termed 'bank of Mum and Dad'.</div>
<div> </div>
<div>Unlike Britain, Australia doesn't have agonizingly high rates of inheritance tax, and thus in my opinion inequality is likely to increase in favour of those lucky folks with wealthy parents. </div>
<div> </div>
<div>Sydney effect</div>
<div> </div>
<div>Drilling down to the state level, not at all surprisingly the impact of higher prices on first homebuyers has been felt most keenly in Sydney. </div>
<div> </div>
<div>Not that we actually needed a graph to confirm this! Even the majority of middle-aged peeps have given up trying to buy homes in the more desirable suburbs, while investors have practically been running riot since mid-2012. </div>
<div> </div>
<div><a href="/images/2016/10/12/B2.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="/images/2016/10/12/B2.jpg" alt=""></div>
 Elsewhere there doesn't seem to me to have been all that much of a change. <div>Loan sizes revised down</div>
<div> </div>
<div>The data for the average first homebuyer loan size has been revised down for recent years, although the chart patterns still tend to mirror the averages for non-first homebuyers. </div>
<div> </div>
<div>One interesting observation here is that the average first homebuyer loan size over the past ten years has not increased at the same rate as median house prices. </div>
<div> </div>
<div><a href="/images/2016/10/12/B3.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="/images/2016/10/12/B3.jpg" alt=""></div>
<div> </div>
<div>You could read any number of things into this statistic (and no doubt people will!). </div>
<div> </div>
<div>For example, the figures could support the recently held argument that parents are tipping in far greater deposits than they were during 2008 and 2009, being the period when the first home owners grant (FHOG) was doubled. </div>
<div> </div>
<div>It has to be said that the divergence does seem to begin at the right time for that to be the case.</div>
<div> </div>
<div>Anyhoo, here are the figures at the state level, which I've just tidied up on a 3mMA basis to smooth out some of the jagged edges (the chart'd give you a headache otherwise). </div>
<div> </div>
<div><a href="/images/2016/10/12/B4.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="/images/2016/10/12/B4.jpg" alt=""></div>
 <div>First homebuyers look to be steadily gearing up again in Queensland, and particularly in Tassie of late, as the Hobart market tightens and rents rise.  </div>
<div> </div>
<div>In 2014, first homebuyers in Western Australia were taking on larger loans on average than anywhere in the country. </div>
<div> </div>
<div>And in 2015, the Northern Territory became the very epicentre of first homebuyer extravagance. </div>
<div> </div>
<div>This is no longer the case - in either location. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">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" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
<div class="post-footer"> </div>
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What's going down with first home buyers? Pete Wargent

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The Australian Finance Group Mortgage Index for the first quarter of financial year 2017 shows a lift of 8 percent from the first quarter of the 2016 financial year to be sitting at a record $15.19 billion.
“Refinancers are driving the activity with a lift from 36 percent at the beginning of the 2016 financial year to peak at 39 percent in the last quarter and close steady the first quarter of the 2017 financial year at 38 percent,” said AFG general manager sales and operations Mark Hewitt.
Existing homeowners are looking to save, first home buyers are still in the single digits and investors are steady, albeit at a lower level than seen across the last three years.
Upgraders are at historical highs across the last financial year and are sitting at 34% again as we finish the first quarter of FY 2017.
“As these figures show, Australian home buyers are aware that rates are at historical lows and there are savings to be made. If you have a home loan and your interest rate isn’t below 4 percent, it would be wise to get in touch with a mortgage broker to ensure you are maximizing your opportunity to save’ he said.
Borrowers choosing to fix their interest rates are down from 18.7 percent last quarter to 15.9 percent this latest quarter. “For those borrowers with a fixed rate product, I would encourage them to check in with their mortgage broker once the fixed rate period is over as many fixed rate loans can revert to a significantly higher rate than may be available in the market at the time.
“An AFG broker can provide true choice across lenders and products and is in the best position to be able to provide those alternatives and ensure their customer has the right lending solution,” said Mr Hewitt.
Investment lending is down from 34 percent last quarter to 32 percent, amid tightening by lenders of investment lending conditions and continued talk of apartment oversupply.
“It is well documented that over the past 12 months regulators have been ‘encouraging’ lenders to tighten up on their investment lending in some areas and they have responded with policy changes and a reduction in discounts being offered.
“It is important to remember that investment lending is often an area where a borrower can really benefit from the assistance of a mortgage broker who knows which lenders are still in the market and the right way to structure finance to meet the needs of the customer,” concluded Mr Hewitt.
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