Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Home Loans

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Aussie Home Loans has posted a record $20 billion in home loan settlements during 2014-2015, including $16.8 billion through its Aussie branded franchises.
June capped off the record-breaking year, with settlements during the month at a record $1.98 billion.
“We achieved all of our ambitious growth targets for the year, with our retail and mobile broker channels both reporting record levels of lending volumes,” Aussie CEO James Symond said.
Aussie also reached an important milestone in its 23 year history, employing our 1,000th mortgage broker.
It has also opened its 175th purpose-built store.
"The mobile mortgage broker channel is also going full steam ahead, settling a record $600 million in June,” James Symond said.
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jchancellor-FAypfDUnLy

Record June for Aussie Home Loans with 1000th mortgage broker onboard

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<img class="map" src="https://www.homeloanexperts.com.au/wp-content/uploads/2015/06/should-I-fix-my-loan-or-leave-it-variable1.jpg" alt="should I fix my loan or leave it variable" width="772" height="2817" style="font-size: 12.1599998474121px; line-height: 1.3em;">
The mortgage broker, <a href="https://www.homeloanexperts.com.au/" target="_blank">homeloanexperts.com.au</a> recently prepared an info-chart on one of the biggest decisions you’ll need to make on taking a home loan - to play it safe by locking in your interest rate or take a risk in the hopes rates will drop even further amd you won't have to sell in the meantime. 
There are pros and cons to each option no matter which way rates go.
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<div class="open">
<div id="accordion4" class="tabs-content">
DISCLAIMER: This is general information only and should not be taken as financial advice. Please speak to a financial professional before making a decision on your home loan.
</div>
</div>
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po-LsXgBTHBmX

Fixed or variable? HomeLoanexperts.com.au

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Loans.com.au has been named Home Lender of the Year 2015 in Mozo’s Experts Choice Awards.
The online lender took out five awards. 
The typical loans.com.au customer is aged in their 30s, living in a greater metropolitan area, with a professional career and household income 30 percent above average.
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It comes as 86 per cent of the best value home loans are from small and non-bank lenders, according to the comparison site, Mozo.com.au. 
Mozo looked at 390 home loans from 81 providers to identify the ten lowest cost loans in five categories with online provider Loans.com.au winning all five categories. 
“These awards are designed to find the best value products available to Australians right now and surprisingly our major banks don’t rate a mention when it comes to the best value variable, fixed or full feature home loans on the market,” said Mozo director, Kirsty Lamont. 
Mozo calculations show borrowers with a typical $300,000 loan could save as much as $1,920 in interest and fees each year by switching from the average Big 4 rate to the best on market. 
“These results prove just how much impact competition and two rate cuts has had on the market in the past 12 -24 months.” 
“While price plays a big role, it’s clear consumers’ comfort with smaller, online and even non-bank brands is increasing,” said Lamont. 
Mozo named ANZ Major Bank Home Lender of the Year for having the best value loan against its three rivals. 
The Big 4’s share of the home loan market has decreased by 1% in two years, which equates to $18 million a day being lost to smaller ledners.
The biggest winners of Mozo’s Experts Choice Home Loan Awards are:
 
<img src="/images/2015/06/12/700_mozochart.jpg" alt="">
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</div>
</div>
<div class="page" title="Page 1">“We are thrilled to be named Home Lender of the Year after working hard since 2011 to bring competition to the home loan market in Australia,” said loans.com.au managing director, Marie Mortimer.</div>
“In every category we have been shown to offer the best value to customers, which demonstrates that we are making good gains in breaking the stranglehold of banks and driving interest rates down.”
Ms Mortimer said the fact that the top award went to an online-only lender shows the level of sophistication the Australian home mortgage market had attained.
“Gone are the days when customers wanted to go into a branch to apply for their home loan,” she said. “Everyone knows there are better ways to spend their time than waiting in a bank queue and our customers are keen to manage their money online in their own time.”
No branch network overheads allowed loans.com.au to pass savings onto customers in the form of lower interest rates and fees.
“The online lending model is not only more convenient for customers, it’s cheaper,” Ms Mortimer said. “Our borrowers know they will save money and time with an online home loan and being named Home Lender of the Year shows us we are meeting their needs.”
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Mozo awards showcase online home loan borrowing by savvy 30s home buyers

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Variable loan rates are available as low as 4.23%, with the lowest rates offered by non-bank lenders, according to comparison website Mozo.
Loans.com.au and Homestar both offer loans at 4.23% interest rates. Loans.com.au's Dream Home Loans Essential product has a maximum loan amount of $750,000, while Homestar's variable rate loan has a $1 million loan limit.
<a href="https://mozo.com.au/home-loans" target="_blank">The lowest variable rates currently on offer</a>:
<ul>
<li>loans.com.au, Dream Home Loan Essentials: 4.23% (comparison rate: 4.25%)</li>
<li>Homestar, Variable Rate Loan: 4.23% (comparison rate: 4.26%)</li>
<li>loans.com.au, Dream Home Loan Offset Variable: 4.27% (comparison rate: 4.29%)</li>
<li>iMortgage, Essential Home Loan: 4.29% (comparison rate: 4.31%)</li>
<li>UBank, UHomeLoan - Real Reward Offer: 4.29% (comparison rate: 4.29%)</li>
<li>Newcastle Permanent, Discounted Variable Home Loan (Premium Plus Package): 4.29% (comparison rate: 4.64%)</li>
<li>Queenslanders Credit Union    Ultimate Home Loan Special ($250,000 to $500,000): 4.33% (comparison rate: 4.37%)</li>
</ul>
 
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The cheapest variable loans on offer: Mozo

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Westpac will apply tougher tests to new property investor borrowers in response to Australian Prudential Regulation Authority's (APRA) efforts to prevent the housing market from overheating.
It will test how borrowers would cope if interest rates rose to 7.1% when assessing how they would cope with higher interest rates.
Previously Westpac's test involved assessing how investor borrowers would cope if mortgage interest rates rose to 6.8%, up from about 5%.
"We had been using a buffer in that case of 180 basis points, we've lifted that to 210 basis points," Westpac chief executive Brian Hartzer was reported as saying in Fairfax Media.
The policy changes are a response to APRA's warning to banks in December, that they would be forced to run larger capital buffers unless they slow investor credit growth below 10% a year. 
"APRA's been in discussions with the whole industry about this," Hartzer said.
"We're all on the same page here. Nobody wants to fuel a speculative credit boom."
Westpac investor lending is growing at 11.5% annually, it said.
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Higher interest rate testing for Westpac investor borrowers

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ING Direct has cut rates on its fixed mortgage products to a new low for the company.
One to three-year fixed rate mortgages will now be offered at a 4.24% rate, while four to five-year fixed rate mortgages have been cut to a 4.49% rate.
In March, the company lowered its variable rates, with a discount available for low loan-to-value ratio customers (under 80%).
This month, ING Direct will also be making a cash payment to some customers to reward Orange Advantage customers.
Its new fixed rates, effective 1 May:
<img src="/images/2015/04/30/Picture%2013.png" alt="">
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ING Direct cuts fixed mortgage rates

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GUEST OBSERVATION
Australia’s ‘property inferno’ is well and truly alight this month.
With property prices set to continue rising through 2015 and more cash rate cuts on the horizon, potential home buyers need to seriously consider whether they’ll make the most of favourable opportunities to dive into the market.
If property prices are on the up and up, and variable rates set to follow the cash rate to new lows, it makes sense that securing a property sooner rather than later will help to reduce your long-term costs. By choosing the lowest rate available to you, you may be able to offset some of the costs associated with higher property values, before they rise any further.
finder.com.au’s lowest variable rate home loans
<ol>
<li>
<a href="https://www.finder.com.au/loans-com-au-dream-essentials-home-loan">loans.com.au Dream Home Loan Essentials: </a><a href="https://www.finder.com.au/loans-com-au-dream-essentials-home-loan">4.23% </a>This is the lowest variable rate on finder.com.au and a heavy contender in terms of additional features. While you’ll have access to extra payment and redraw facilities, portability and splitting options, you won’t have access to an offset account or physical branches – loans.com.au is a solely online lender. This paired with a $375 annual fee could sway some potential buyers.  </li>
<li>
<a href="https://www.finder.com.au/ubank-uhomeloan-variable-rate#9384">UBank UHomeloan: </a>4.29% This loan is only available to those who have secured a 20% deposit on their loan, however this dedication is rewarded in the form of $0 application or ongoing admin fees, which is a welcome change in the home loan market. Provided you’re an Australian resident with a Pay As You Go (PAYG) income from an employer, this loan can provide you with some cushy features such as free, unlimited redraws and various splitting options.  </li>
<li>
<a href="https://www.finder.com.au/state-custodians-standard-variable-offset-loan">State Custodians Standard Variable: </a><a href="https://www.finder.com.au/state-custodians-standard-variable-offset-loan">4.34% </a>If you can pay the $299 Annual Service Fee, $275 Valuation fee and $300 discharge fee, you’ll have access to a flexible loan with 100% offset options, as well as extra repayments, redraw facilities and split loan options.</li>
</ol>
finder.com.au’s lowest three-year fixed home loans
<ol>
<li>
<a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">Newcastle Permanent: </a><a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">3.99% </a>This is the lowest 3-year fixed rate on finder.com.au and home to a limited-time cashback offer of $1000 on applications made before May 1, settled before June 26 and over $150,000. Just be aware that there are no redraw services for this loan, so make sure the repayments are a financial commitment you can dedicate to – as you won’t be able to use the money elsewhere once it’s deposited.  </li>
<li>
<a href="https://www.finder.com.au/ubank-uhomeloan-fixed-rate-home-loan#885">UBank UHomeloan:</a><a href="https://www.finder.com.au/ubank-uhomeloan-fixed-rate-home-loan#885"> 4.18% </a>This loan is designed for the sure-footed as it does not allow extra-repayments or redraws on the fixed term of your loan – you’ll have to look elsewhere should you need extra money in the first three years. Aside from a $395 application fee, there is no annual service fee and you’ll be allowed to change up the repayment frequencies, which is a key consideration should you need to make strategic repayments around other lifestyle factors such as transitioning between jobs. 
</li>
<li>
<a href="https://www.finder.com.au/loans-com-au-dream-home-loan-fixed#1468">loans.com.au Dream Home Loan: </a><a href="https://www.finder.com.au/loans-com-au-dream-home-loan-fixed#1468">4.29% </a>This loan allows five free splits, which could be a highly valuable option for many first home buyers, especially being in the middle of cash rate movements. With additional repayment options and no application or ongoing fees, it may provide a smooth transition for those apprehensive to enter the market – provided you’re adequately braced for an initial $220 valuation fee and $300 settlement fee.</li>
</ol>
Michelle Hutchison is spokesperson for comparison website <a href="https://finder.com.au/" target="_blank">finder.com.au</a>.
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mhutchison-SWt6qigzDX

Offset rising property prices by making the most of your home loan: Michelle Hutchison

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The low official cash rate and an increasingly competitive home loan market has prompted ME Bank to cut its three year fixed rate product by 29 basis points.
Its three year standard home loan is now offered with a 3.99% per annum interest rate. Its one year fixed loan rate was cut by 40 basis points to 4.29%, and its five year loan is now down 20 basis points to 4.39% per annum.
Although the Reserve Bank did not cut the official cash rate in April, ME Bank head of home loans Patrick Nolan says money markets have begun pricing in two more rate cuts.
He also attributes the bank's rate cut to increased competition in the market.
"With competition hotting up, many Banks will pass these fixed rate savings directly on to customers," says Nolan.
"Banks are fighting over a smaller slice of the lending pie which is helping to push fixed rates to never before seen lows."
The bank also now allows new borrowers to pay an extra $30,000 over the fixed term of their loan.
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ME Bank drops three year fixed rate below 4%

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Interest rates are set to stay low for some time but uncertainty remains over which way they’ll move over the medium to longer term.
Variable rates are popular with borrowers. More than four out of five loans written nationally in February through Mortgage Choice had a variable rate, the broker’s latest data shows.
“In December 2013, fixed rate demand peaked at 33.06%, while today this type of home loan accounts for just 19.56% of all loans written,” Mortgage Choice spokesperson Jessica Darnbrough says.
“While fixed rate pricing has dropped dramatically across the board in recent months, it seems borrowers are more comfortable taking out a variable rate mortgage.”
For people who want some certainty and protection from rate increases but don’t want to miss out completely if rates fall further, split rate loans offer an alternative.
Split rate home loans allow borrowers to fix the interest rate on a portion of the loan and leave the rest variable.
It’s difficult to tell exactly how many people are taking out split loans because most mortgage products offer the option lenders don’t report the figures separately. Anecdotally, split loans do seem to be gaining popularity.
Michelle Hutchison, money expert at comparison website <a href="https://finder.com.au/" target="_blank">Finder.com.au</a> says it wouldn't be surprising to see more borrowers choosing to split their home loan as there’s increasing uncertainty about the direction of interest rate movements.
“The <a href="https://finder.com.au/" target="_blank">Finder.com.au</a> Reserve Bank Survey shows mixed results with which direction the cash rate will move this year. Another indicator is that most lenders have not followed every cash rate movement throughout this downward cycle over the past three and a half years,” Hutchison says.
“Borrowers may not know which option is better so hedging your bets and splitting your loan with part fixed and part variable divides the risk.”
The benefit of splitting a home loan is that it combines the features of a fixed and variable rate loan. The variable portion offers flexibility, allowing you to participate in subsequent interest rate cuts, while typically being able to make extra repayments or redraw from the mortgage. The fixed portion is usually more restrictive but does lock in the interest rate shielding you from increases in the required repayments if rates rise.
It’s common to fix 50% of the loan but most lenders will allow you to choose whatever combination of fixed and variable rates you want.
Many lenders will allow borrowers to split rates using their existing mortgage without having to refinance. Check with your lender on their policies.
As with all types of loans, interest rates vary between lenders.
One example is from Homeloans.com.au which is offering a split rate mortgage where up to half of the loan is split with a comparison rate of 4.72% on the variable component and 4.72% on the fixed rate for a three-year term. For a one-year fixed rate component the rate is 4.74% and for five years it’s 4.84%.
Using those rates as an example, let’s say you have a $300,000 loan over 30 years. You fix half of the loan over three years using the mortgage product above and leave the other half on the variable rate.
Initially, the monthly repayment will be $1,560, comprising of $780 for the fixed component and $780 for the variable component (see table below). Since the fixed and variable rates are the same in this example, the cost is the same as for a loan with a 100% variable rate.
If the RBA cuts interest rates by 0.25 percentage points, and the lender passes on the rate cut in full to its variable rate loans, the interest rate on the variable component will drop to 4.47% but the fixed rate will remain at 4.72%. The monthly repayment will drop to $1,537. However, if you had a completely variable rate loan, the monthly repayment would be $22* less, at $1,515.
Similarly, if the RBA lifted rates by 0.25 percentage points and the lender passed on the increase, monthly repayments on the split rate loan would rise to $1,582, while monthly repayments on a loan with 100% variable rate would go up by $23* more to $1,605.
While $20-something a month doesn’t make a huge difference to most budgets, if the economy picks up over the next three years and interest rates rise more dramatically, the saving will become more significant.
Looking back three years ago to April 2012, the official cash rate was 4.25%, a full 2 percentage points above what it is today. It’s possible that over the next three years conditions will improve enough for the official rate to be lifted again back 4.25%.
Assuming lenders passed on the rate rises, the variable rate on the mortgage in the example above would increase to 6.72%, while the fixed rate would of course remain at 4.72%. Monthly repayments in this instance would rise to $1,750. In contrast, the monthly repayments on a mortgage with a 100% variable interest rate would be $1,940. That $190 a month would make a sizeable difference to most budgets.
Monthly repayments on a $300,000 loan over 30 years 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="97">
 
</td>
<td valign="top" width="105">
Interest on fixed rate component (50%)
</td>
<td valign="top" width="105">
Interest on variable rate component (50%)
</td>
<td valign="top" width="104">
Total repayment
</td>
<td valign="top" width="105">
Repayment for 100% variable rate loan
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.72%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="104">
$1560
</td>
<td valign="top" width="105">
$1560
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.47%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$757
</td>
<td valign="top" width="104">
$1537
</td>
<td valign="top" width="105">
$1515
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.97%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$802
</td>
<td valign="top" width="104">
$1582
</td>
<td valign="top" width="105">
$1605
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 6.72%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$970
</td>
<td valign="top" width="104">
$1750
</td>
<td valign="top" width="105">
$1940
</td>
</tr>
</tbody></table>
Source: Property Observer using Homeloans.com.au split loan and variable rate loan calculators.
*Note: the difference between these figures is due to rounding throughout the example. 
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Should you consider a split loan?

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Australia’s largest mortgage broker has appointed Chris Slater as the general manager AFG Home Loans. 
Slater has been with the organization for eight years starting out as a national account manager and then moving to the role of state manager for NSW/ACT in 2008. 
In 2013, Slater was appointed to the role of head of sales and operations.
AFG managing director Brett McKeon said Slater has been a key player in growing the business.
AFG Home Loans division is a key plank of our business strategy. 
Slater and his family are relocating from Sydney to be based in AFG’s Perth head office this week.
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