Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Home Loans

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Non-major lender CUA has amended its lending policies to make it easier for people to access finance for apartment purchases, with the changes targeted at the owner-occupied unit market.
On the whole, these changes are designed to help more apartment buyers to qualify for a CUA home loan, CUA general manager of sales, Andy Rigg advised.
“Some of the changes are also designed to manage the risks from forecasts of an apartment oversupply in some Australian cities in the coming two years,” Rigg said.
The changes include CUA changing its definition for what it considers to be high density apartments.
Last week CUA issued a media release to correct mis-reporting of changes to its apartment loan criteria in Fairfax Media publications. 
The mutual said it had not introduced a policy of not lending for the purchase of apartments of less than 40 square metres.
It indicated that it had been its long-standing policy. 
It did recently amend its definition of a "high density apartment" to apply to buildings with six or more floors or more than 50 apartments.
It had previously classified a high density apartment as one in a complex with four floors or more than 30 apartments.
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jchancellor-FAypfDUnLy

How lenders are curtailing their high density apartment block lending

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ING Direct has cut its lowest variable rate home loan for owner-occupiers by 15 basis points. ING’s Orange Advantage loan has been reduced to 3.79 percent, effective today.
They are for owner-occupier loans with a minimum LVR of 80 percent. Fixed rate changes include a rate of 3.69 percent available for a three-year fixed term.
For more information, <a href="https://www.ingdirect.com.au" target="_blank">click here</a>.
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ING drops variable rate to record low 3.79 percent

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<img src="/images/2016/07/22/D819360E-D22F-45A0-950B-1527D8EA443823.png" alt="">
SPONSORED POST
If you are a home owner and a property investor the the new Mortgage Down loan will allow you to dramatically reduce your principal and interest home loan rate.
“Mortgage Down allows the property investor to pay of their home loan sooner and create equity in their own home faster. This gives the property owner more opportunity to create additional investments,” says Mortgage Down group marketing director Venn Williams.
Under a tax ruling from the Australian Taxation Office PR2015/2, the loan structure allows investors to reduce the interest rate on their non-deductible principal and interest home loan and increase the interest rate on their deductible interest-only investment loan. “If you own your own home and have an investment property, then you could qualify for a home loan rate beginning with a 2,” Williams says.
The average interest rate for a standard variable owner-occupied mortgage from a bank was 5.4 percent in May 2016, according to the Reserve Bank of Australia.
A 1 percent reduction in the interest rate charged on a $250,000 home loan taken over 25 years would save the borrower $43,468 over loan’s term and cut the time to repay the debt by 4 years. A 2 percent drop in the rate would save $84,640 and let the borrower repay the loan 6 and a half years sooner.
The higher interest rate charged on the investment loan means the investor may be able to claim a larger tax deduction.
The innovative loan structure is available to Australian residents who own their home and either already have an investment property or are about to buy one.
The product offers other features such as an off set account, redraw facilities and debit cards. Usual borrowing conditions apply.
To download a free ebook on new financial year taxation tips for property investors,<a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/55208-new-financial-year-tax-planning-tips-for-property-investors" target="_blank"> click here</a>.
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po-LsXgBTHBmX

Reduce your principal and interest home loan rate

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HashChing, an online marketplace for pre-negotiated home loans, has announced $1 billion of home loans and signed up Claire Wivell Plater of The Fold Legal to its Advisory Board.
HashChing offers home loans with interest rates below 4 percent and below banks’ standard advertised variable rates.
More than 1200 mortgage brokers have signed up to the platform since launch
Mandeep Sodhi, chief executive officer of HashChing said more Aussies are turning to technology to compare rates advertised by different lenders.
“Customers aren’t just looking to save time. The key to our success is that our offer extends far beyond convenience. We’re able to offer pre-negotiated home loan deals from different lenders with equal features, the same products, but with an even better rate,” he said.
“We’re growing at a rapid pace. One of the reasons we’ve been able to scale the way we have is because we don’t charge per lead, which is a great incentive for them to join.
Atul Narang, chief information officer of HashChing said the broker registration process has been automated to make it really easy and quick by allowing them to digitally sign the contract which instantly activates their account and saves the paper clutter at both ends.
“We have utilised AI capabilities into our platform and our proprietary algorithm learns from the broker behaviour while matching a consumer lead with a broker," he said.
"I am in the process of bringing predictive analytics into our platform to target visitors with a specific home loan rate based on their geographical location and other attributes for a better consumer experience."
 
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jonathanchancellor-7SQnKwU6yx

HashChing surpasses $1 billion worth of home loans

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The number of home loans in arrears rose for the seventh consecutive month in May, according to the Standard &amp; Poor’s Performance Index, commonly referred to as SPIN.
Australian Broker noted it shows that 1.21 percent of “prime” residential mortgage-backed securities (RMBS) were in arrears in May, up from 1.14 percent the previous month and 1.07 percent a year earlier.
The index measures the weighted-average arrears more than 30 days past due on loans in RMBS transactions.
It also showed that arrears were higher amongst the banks.
The major banks’ 90 day-plus arrears rose four basis points to 0.48 percent, while non-banks fell a point to 0.17 percent. 
S&amp;P noted that the non-conforming remains low by historical standards and well below the 2009 peak.
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RMBS home loan arrears edge slightly higher

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Lenders are flooding the home loans market with enticing honeymoon rate deals, which revert to much higher rates once the introductory period expires.
New data from RateCity.com.au shows there are more than two dozen lenders, and 71 variable home loan products, offering an introductory deal with some as low as 3.29 per cent for a six-month period before reverting to 4.79 per cent.
On a $500,000 30-year home loan this could result in monthly mortgage repayments being an extra $227, and over the life of the loan it could cost an extra $79,219 compared with a product offering a continuous rate of 4 per cent.
Peter Arnold, data insights director at RateCity.com.au, urged borrowers against being lured into these expensive products.
“These deals are basically a marketing ploy to get customers sucked into a longer-term deal,” he said.
“It’s also a trap for first homebuyers who are looking to get into the market desperately and aren’t thinking long term.
The majority of intro offers also charge high discharge fees to close the loan.
“There are 48 lenders currently offering ongoing variable rates under 4 per cent, and as low as 3.59 per cent,” he said. 
How a $500,00 intro deal stacks up over 30 years
 
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<td valign="bottom" nowrap width="280">
 
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<td width="115">
Variable - low ongoing rate
</td>
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Variable - introductory rate
</td>
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difference
</td>
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<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
         $2,187
</td>
<td nowrap width="110">
-$200
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
             $2,614
</td>
<td nowrap width="110">
$227
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$859,348
</td>
<td nowrap width="110">
 $938,567
</td>
<td nowrap width="110">
$79,219
</td>
</tr>
</tbody></table>
 
How a $300,00 intro deal stacks up over 30 years
 
<table class="x_MsoNormalTable" style="width: 556px; height: 55px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="280">
 
</td>
<td width="115">
Variable - low ongoing rate
</td>
<td width="110">
Variable - introductory rate
</td>
<td width="110">
difference
</td>
</tr>
<tr>
<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
         $1,312
</td>
<td nowrap width="110">
-$120
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
             $1,568
</td>
<td nowrap width="110">
$136
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$515,609
</td>
<td nowrap width="110">
 $563,140
</td>
<td nowrap width="110">
 $47,531
</td>
</tr>
</tbody></table>
 
</body></html>

Caution urged with honeymoon rates for first home buyers

<html><body>
Canstar have looked at the current highest, lowest and average home loan rates on the canstar.com.au database. 
"The message for consumers is that no matter what the official cash rate is, most borrowers could definitely be saving money on their mortgage, if they know what’s on offer and are prepared to drive a hard negotiation with their bank," a spokesperson advised.
Here are the current highest, lowest and average home loan rates, for both owner-occupied and investor loans.  
<a href="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.08.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.08.05%20AM.png" alt="">
<a href="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.08.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.08.39%20AM.png" alt="">
Here’s what borrowers could save 
For owner-occupiers, based on the current average standard variable rate and a 25 year loan term, negotiating a 0.5 percent lower rate could potentially save the following: 
<a href="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.10.57%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.10.57%20AM.png" alt="">
<a href="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.11.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/07/Screen%20Shot%202016-07-07%20at%209.11.06%20AM.png" alt="">
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The lowest home loan and investor interest rates in July 2016

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The National Australia Bank has joined the three other big Australian banks in restricting its lending to foreign property buyers without any domestic income. 
The bank had previously reduced the amount of "foreign source" income that it will include in loan assessments, to 60 percent, from 80 percent.
Westpac, the Commonwealth Bank and ANZ previously changed their rules over the last two months. 
NAB told The Australian Financial Review it would only consider foreign home loan applications to applicants who have existing Australian income. 
“NAB continually reviews its policies to ensure we continue to lend responsibly, and respond to changing market conditions and regulatory requirements,” a spokeswoman said. 
"NAB has limited appetite for this segment, which comprises only a small percentage of NAB’s lending book.”
“Under these changes, applicants will need to provide evidence of existing Australian income in order to be eligible for home lending application purposes.”
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NAB blocks foreign property buyers without local income

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<div class="column">
Bank Australia has been named as the Canstar Customer Owned Bank of the Year.
Canstar evaluated the product offerings of over 50 customer owned banks in Australia.
Mitchell Watson, Canstar group manager, research, said Bank Australia not only offered outstanding value products within the lending space, but also offered its customers value for money when it comes to its savings and transaction accounts.
They researched 266 deposit accounts, 1,211 home loans, 63 credit cards and 200 personal loans.
Damien Walsh, Bank Australia’s managing director said the award was an endorsement of the organisation’s unique mutual prosperity proposition – offering great value to the customer while also operating in an ethical and socially responsible manner.
 
</div>
</div>
</div></body></html>

Bank Australia named Canstar Customer Owned Bank of the Year

<html><body>
Australia’s largest member-owned financial services provider, CUA, today announced it was cutting fixed interest rates for owner occupiers by up to 0.43 percent p.a., with its 2-year fixed rate for owner occupiers falling to a low 3.96 percent p.a.
CUA is also passing on a range of fixed rate reductions for investors, with rate cuts of up to 0.33 percent p.a.
The new fixed rates are available for home loan applications fully approved from today.
Under the changes, CUA will now offer interest rates below 4 percent p.a. for owner occupiers across its 1-year (3.94 percent p.a.), 2-year (3.96 percent p.a.) and 3-year (3.99 percent p.a.) fixed rate home loans.
The fixed rates will complement CUA’s competitive variable rates, which start from 3.99 percent p.a. for its Fresh Start Basic (Owner Occupier) home loan.
Fixed rates for investors will start from 4.34 percent p.a. for the 1-year fixed rate loan.
The 2-year fixed rate for investors will fall to 4.36 percent p.a., while the 3-year fixed rate will be reduced to 4.39 percent p.a.
CUA’s General Manager of Products and Marketing, Jason Murray, said there are a lot of people shopping around for loans at the moment and the market is seeing an increasing number of borrowers considering fixed rate options.
"Now is a great time to lock in a very competitive fixed rate with CUA and benefit from being part of an organisation focused on helping our members,” he said. “These reductions in fixed interest rates will be welcome news for first homebuyers looking to get into the property market.
A full list of CUA fixed rates for owner-occupiers and investors, including comparison rates, is available online <a href="https://www.cua.com.au" target="_blank">here</a>.
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