The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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>

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

Home Loans

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With more borrowers than ever before in this latest low rate cycle opting for fixed rates, Finder.com.au’s Michelle Hutchison is suggesting that borrowers may want to seriously consider fixing their home loan.
At present, borrowers fixing their loans through the Finder website are at 36%, the highest level in the past three years – since the beginning of the falls of the cash rate in November 2011.
At the start of 2014, 25% of borrowers were fixing, compared to November 2011 when just 11% were looking to fix.
Hutchison said that, despite some experts predicting a cut before the rates start to increase, the rise in fixed rate popularity may be the abundance of experts predicting rates to climb. In their survey, seven of 37 experts predict a rate drop next year.
“Despite this, they are still expecting rates to eventually rise, so borrowers who have overstretched themselves or concerned should consider locking in a fixed rate home loan,” she said.
“This year, we've seen average variable home loan rates fall by 0.24 percentage points – from 5.46% in January to 5.22% now. The difference in monthly repayments for a $300,000 loan size over 30 years is $45 less per month.
“We've also seen fixed rates also take a dive, with the average three-year fixed rate falling by 0.19 percentage points from 5.17% to 4.98% now. If you fixed a $300,000 home loan in January you would be paying $35 more per month than if you fixed now.”
The lowest variable rate available is with Heritage Bank, at 4.39%, with three year fixed rates starting at 4.59% - with ME Bank and Greater Building Society offering this rate.
“Lenders have continued to cut home loan rates this year because their funding costs have fallen and they have passed on the savings to borrowers, they also have room to move as they haven't passed on all of the cash rate cuts since rates began to fall in November 2011,” she said.
“Fixed loans are usually a barometer for the direction of interest rate movements and with fixed rates still falling, it could be a sign that another cash rate cut could happen next year.”
Just one lender has dropped their variable home loan rate this month, but some more may be seen, she suggested.
“Despite this, interest rates are likely to eventually start rising so it's a great time to lock in a fixed rate if you're concerned about rising rates. Or borrowers could hedge their bets and split their loan so a portion is with a variable rate and a portion is fixed,” Hutchison said.
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Good time to lock in a fixed rate: Finder

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Money Magazine has given loans.com.au the title of the Best Cheapest Home Loan and the Cheapest Flexible Home Loan for non-banks in 2015.
Last year saw loans.com.au take out the Best Cheapest Home Loan award as well, and this year’s broadening of the flexible category to non-banks allowed the lender to compete, explained Kim Cannon, managing director of loans.com.au’s Firstmac.
Dream Home Loan is loans.com.au’s flagship product that took out the awards. It has a 100% offset and free redraw at a rate of 4.48% (comparison 4.50%) to 90% LVR. It also offers a value pack with a $150 conveyancing voucher, financial planning up to $500, property reports and a Loan Tracker service.
“Loans.com.au has seen strong growth in the number of customers who are keen to do their own research to identify the best home loan product for them, and they are more empowered in the application process,” Cannon said.
“They make an informed choice to have more input into the application process by following through on their internet research and applying for their home loan online.”
He said that increasingly borrowers are looking to do their home loan applications online in a paperless process due to working hours, and then fill out necessary forms during lunch hour at a branch.
“A streamlined application with online tools to track each step of the process is far more appealing to smart, busy, borrowers than having to call the bank and check whether the application has progressed, or make an appointment to fit into someone else’s schedule.”
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The lowest cost non-bank loan available for 2015 announced

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Mortgage House, a non-bank lender, has been told to stop using an ASIC trademark to sell its product MoneySmart.
MoneySmart is a registered trademark of ASIC and is the name given to ASIC’s consumer and retail investor website.
ASIC suggested that using this brand could have misled borrowers to assume that ASIC had endorsed or approved the product.
<a href="https://www.mortgagehouse.com.au/%20" target="_blank">Mortgage House</a> admitted they had not checked if the name MoneySmart was trademarked. It has now been renamed and corrective advertising on their website has taken place.
An undertaking has been provided to ASIC.
The website’s advertising for the five year fixed home loan now notes that it “was not at any time endorsed or approved by ASIC”. It’s now called the ‘Advantage’ five year fixed rate home loan.
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Non-bank lender stopped from using ASIC trademark name

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John Symond, the founder of Aussie Home Loans, tips five-year fixed loans are heading to 4.75%.
"My tip is that we are going to see fixed rates even lower," he told Ross Greenwood's 2GB Money News last night.
"We might even start seeing 4.75% which is unbelievable.
"I've never seen it in 40 odd years in business," he said, noting five year rates already edging under 5%.
"Swaps… have come off 15 basis points over the last few days," he said.
John Symond revealed in Sepetmber this year he had taken five-year fixed loans for his Sydney investment property portfolio.
"I've never been a proponent of fixed rates," he told Greenwood in September.
"But I've gotta fess up, this week personally on a couple of properties, I've locked away five year fixed at high 4%s which you can get around the market.
"My feeling is I think you're taking a risk by taking three years because you know rates between now and three years, over the next 12 to 36 months, that's when probably interest rates will be trekking up.
"You are going to be locked in to the end of three years.
"You might find they will sail pass you, and when you come out of your three years you've missed the boat.
"Where as five years I think  you can't go wrong, you are going to get two or three years premium low rates and I thought you know what I am going for it.
"I've looked at it and I thought lowest fixed rates in history, lowest, even if they go down half a percent which I'll be surprised, hey you're within half a percent of the lowest in history.
"So you know I think it is a good time to do it even if you go and fix part of your loan.
"I have three apartments, you know what I am going to lock them away and I don't have to worry about rates moving up in 12, 18 months, two years time."
Greenwood, who described it as a pretty good tip, stressed investors needed to ensure their return covered the loan and the property would be held for the five year period.
Interest rate comparison web site, RateCity.com.au, calculates that average variable home loan rates have fallen by 35 points since the last official RBA rate trimming in August last year.
The 0.35% cut saves a typical $300,000 mortgage $62 a month, but if only there if borrowers take the time to negotiate for it.
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John Symond expects five year fixed interest rates to dip to 4.75%

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At this time of year, most people are focused more on shopping for gifts than on shopping for a home loan.
Fewer mortgages are sold during December and January than at other times of the year. The property market slows down and so does refinancing activity. Australian Bureau of Statistics data shows a regular dip each January in the value of mortgages sold for refinancing (see chart).
<img src="/images/2014/12/02/rba-graph-dec-2-two.jpg" alt="">
Many people stretch their budgets during the festive season and reviewing the home loan takes a back seat to spending.
Commonwealth Bank research released last month suggests more than half of people overspend during the holidays on gifts, travel, entertaining and shopping in the sales. While 57% set a budget for their spending between 1 December and 6 January, fewer than one in five stick to their plan, the research found.
For mortgage holders who are disciplined with their finances and prepared to set time aside to investigate their refinancing options, there are some attractive home loans available.
The official cash rate has remained steady at 2.5% for more than 18 months now and most economists expect rates to stay low throughout 2015.
Fewer than one in four economists surveyed by Finder.com.au in November expect rates to move before the middle of next year. Some 70% believe rates will change in the latter part of 2015 and a minority expect no increase until 2016. Three of the 37 economists surveyed think the next move will be down.
Borrowers have benefitted this year not only from the low interest rate environment but also from strong competition between lenders.
<a href="https://www.heritage.com.au/" target="_blank">Heritage Bank</a> cut its mortgage rate in late November and is now offering a variable mortgage with a comparison rate of 4.4% to people refinancing with a loan to value ratio of up to 80%. The bank is also waiving its $600 application fee for new loans taken out before Christmas.
Other lenders, such as loans.com.au, Australian Financial, MortgageView and Ubank, are also offering variable mortgages with comparison rates below 4.6%.
Fixed rates are available at competitive levels, such as the one and two-year fixed rate mortgage that Loans.com.au is offering at 4.57% and 4.59%, respectively.
Earlier in the year several lenders began offering non-rate incentives to lure borrowers to their products.
Many home owners have been taking advantage of the deals available. The value of mortgages refinanced rose sharply through 2014, ABS data shows. In July, the peak month for refinancing activity, almost $5.6 billion worth of mortgages were refinanced.
Mortgage holders have also been prudently paying down their debts. The Reserve Bank of Australia has noted that mortgage holders are, in aggregate, months ahead on their repayments, either as a result of paying early or holding balances in offset accounts.
Most households have manageable debt levels, with eight in 10 able to add to their savings or at least make ends meet, the St George-Melbourne Institute Household Financial Conditions Report released in late October showed. 
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Festive period can be a great time for loan shopping

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The demand for fixed rates hit a nine month high in November as an increasing numbers of people choose to fix their mortgage, according to Mortgage Choice’s latest national home loan approval data.
Fixed rate loans accounted for 26.98% of all loans written last month, a slight uptick from 26.64% recorded in October.
Mortgage Choice spokesperson Jessica Darnbrough said that it is likely borrowers want certainty around their repayments as rates stay low.
“A growing number of borrowers are beginning to realise that while rates are low, they can’t stay this way forever. And as such, they are looking to fix their mortgage now while rates are sitting at historically low levels,” said Darnbrough.
“Furthermore, a lot of lenders slashed the interest on their suite of fixed rate products at the end of July and we are finally starting to see the result of those rate movements coming through in our data.”
Variable rates with an ongoing discount, however, remain the most popular product.
In New South Wales, fixed rates accounted for 34.13% of loans written in November, compared to 28.65% in Queensland. Meanwhile, South Australia recorded 20.23% fixed loans, while Victoria and Western Australia noted 19.77% and 16.94% respectively.
Darnbrough said it’s unsurprising to see variable rates still popular as they do remain low.
“That said, fixed rates are also very competitive which is why we are seeing an increasing number of borrowers opting for the safety of a fixed rate product. Of course with interest rates currently sitting at historical lows and Australia’s lenders competing aggressively for business, borrowers can be assured of securing a good rate regardless of which product type they opt for,” she said.
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Fixed rate demand at nine month high: Mortgage Choice

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Around two thirds of Australians aren't in a truly competitive home loan, according to founder and director of <a href="https://www.ipac.com.au/" target="_blank">ipac</a>, Paul Clitheroe.
"Right now there are loans out there for a bout 4.55-4.6%. Most Australians are still  paying 5.2-5.3%," Clitheroe says.
"I just don't get it."
In this video he explains how you can save thousands of dollars by shopping around for your home loan.
{qtube vid:=xbnzMQ7pGXY}
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Video: Save by shopping around on your home loan

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ME Bank has released a support package for ACT home owners affected by Mr Fluffy asbestos that sign on to the government’s buy back scheme.
The package allows home owners to borrow against their dwelling to accelerate the purchase of an alternative home.
Up to 80% of an agreed value on an existing property will be available through ME Bank, with standard lending criteria still to apply. The standard hardship policy will also be available to these property owners.
The hardship policy allows deferred or reduced home loan repayments if they are facing financial hardship.
Around 1,000 residences in Canberra had loose amosite asbestos installed by Mr Fluffy from the late-60s to the 70s.
Between 1988 to 1993, the federal government attempted to remove the asbestos, but did not manage to clear the properties.
Jamie McPhee, CEO of ME Bank, said that home owners understandably want the certainty and ability to move on with their lives.
It is important people know the banks are here to help people through this difficult time, said McPhee.
“To help them ME Bank has agreed to lend on their existing Mr Fluffy-affected homes using standard lending criteria, and as soon as they join the buy back. That means they can start looking for and potentially buy a new home as soon as possible,” he said. 
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ME Bank establishes support package for Mr Fluffy home owners

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GUEST OBSERVATION
Melbourne Cup day is the race that stops the nation and in 2014 this is true in more ways than one.
Almost half the cash rate announcements made on Melbourne Cup day in the last 20 years have seen a rate move so all eyes were on the Reserve Bank board meeting. The 33 experts in the <a href="https://www.finder.com.au/rba-cash-rate" target="_blank">finder.com.au RBA survey</a> weren’t surprised however, when the Reserve Bank left the cash rate on hold for another month.
Despite all 33 experts betting on no move, some lenders were shaking up the market by changing their rates. Over the past month we saw 18 variable rate home loans move their rates – 13 of which were cuts. There were also 16 three-year fixed rates that saw rate moves, nine of which were hikes.
This shows that although the cash rate is a fairly good indicator of rate stability, it’s not doesn’t mean that home loans will stay put. With 32 of the 33 expert’s in the cash rate survey predicting an incoming cash rate rise, the time is nigh to consider or revise your home loan options – both fixed and variable. <a href="https://www.finder.com.au/home-loans" target="_blank">Comparing home loans to refinance</a>, or enter the property market, are some effective ways to make sure that, regardless of the incoming rate rise you’re still on top of the ever-changing rate market.
finder.com.au’s top variable rate home loans:
<ol>
<li>
<a href="https://www.finder.com.au/loans-com-au-blackboard-special#841">loans.com.au Dream Home Loan - &lt;90% LVR</a>: 4.48% per annum Minimal fees as well as flexible features are two key safety buffers that can minimise the impact of changing rates – these are all things that this loan contains. This loan also minimises upfront fees, such as application, annual and legal fees. It is important to know that an early termination fee does apply to this loan, which can sting for those repayment overachievers. This is the lowest variable rate loan currently on finder.com.au and also a loan that gives you a 100% offset account and redraw facility – meaning if you do overshoot on a repayment, you can take it back later.  
</li>
<li>
 <a href="https://www.finder.com.au/ubank-uhomeloan-variable-rate">UBank UHomeloan</a>: 4.54% per annum This loan from UBank comes with no application fees, legal fees, valuation fees, annual fees, settlement fees or exit fees. It’s available for purchasing, refinancing or investing on amounts between $100,000 to $1,000,000. While this allows for a measure of flexibility, this particular product can only be used for a maximum 80% of LVR, which means you will have to save the remaining 20% deposit before applying.  
</li>
<li>
<a href="https://www.finder.com.au/newcastle-permanent-premium-plus-package-home-loan#4697">Newcastle Permanent Premium Plus Package Home Loan</a>: 4.87% per annum This package loan has two limited time offers that are worth considering. If you apply for a loan of $150,000 or more before December 19, 2014, you’ll receive $1,000 cashback. Newcastle Permanent also has a limited time offer where any loan will be eligible for the Tier 4 discounted rate, which is usually only reserved for combined loan balances of over $900,000. This loan is part of the premium plus package, so you will need to open other products from this provider, which may be an important consideration.
</li>
</ol>
finder.com.au’s three lowest three year fixed rates:
<ol>
<li>
<a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">Newcastle Permanent Fixed Rate Home Loan</a><a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">:</a> 4.49% per annum Newcastle Permanent also has a competitive fixed rate loan option available – in fact, it’s the most competitive fixed rate on finder.com.au right now. You’re able to lock in this low rate for three years and enjoy $1,000 cashback when you apply for a loan of $150,000 or more by 19 December 2014. While the establishment fee is waived, you’ll still be obligated to pay $375 annual fee if you take out this loan.  
</li>
<li>
<a href="https://www.finder.com.au/me-bank-standard-fixed-rate-home-loan#1101">ME Bank Standard Fixed Rate Home Loan</a>: 4.59% per annum You won’t have to pay any application or account-keeping fees with this loan, meaning a saving both at the onset and during the life of your loan. However, while you can borrow up to 95% of your property’s value, access a redraw facility and a split loan option, you will be obligated to pay $200 at the beginning and end of this loan – in the form of a valuation and exit fee. 
</li>
<li>
<a href="https://www.finder.com.au/greater-building-society-ultimate-fixed-rate-home-loan#1450">Greater Building Society Ultimate Fixed Rate Home Loan</a>:4.59% per annum This package gives you discounted access to a range of Greater’s products, including their fixed rate home loan, Visa credit card, and transaction account. You’ll pay one annual fee for all your products while locking in a competitive rate for three years. With fees totalling $455, you may want to make sure the full range of Greater discounts available to you will be of maximum value.
</li>
</ol>
The cash rate remains at its historical low of 2.50% for now, however you shouldn’t ‘set and forget’ your home loan on this basis. Compare these and other home loan options and see if you can benefit from refinancing – if you’re new to the property market, make sure you take advantage of the best products available to you. 
Michelle Hutchison is the money expert for <a href="https://www.finder.com.au/" target="_blank">finder.com.au</a>, one of the biggest online comparison networks in Australia. 
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The top home loans currently on the market

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There has never been a shortage of people calling property unaffordable and it has become common practice to discuss the idea of parents becoming guarantors for their children to assist, particularly where deposits are not sufficient.
Becoming a guarantor leaves the parents with a loan over their home, restricting their potential future borrowing capacity and leaving them at the mercy of their children’s astute repayments.
However, Smartline Personal Mortgage Advisers’ executive director Joe Sirianni is pointing to a potential new solution. Under this loan structure, which differs from a straightforward cash loan or gift to your child, the bank lends up to 90% of the property value, with a separate loan from the parents of 10% to 20% of the home.
It must be a freestanding property that the first home buyer is purchasing, explains Sirianni.
“Many parents are keen to give their children assistance to give them that first leg up on the property ladder, which is admirable, but it is a big commitment,” he said.
“Providing a guarantee can, in the worst case scenario, leave the parents open to losing their home if the child can’t or won’t meet their debt obligations to the bank. Even without the worst happening, being a guarantor can still impact on the parents’ ability to borrow or sell the property.”
He also warned that cash loans and gifts are often not recognised by lenders as a genuine deposit or could be lost if a child and their partner split up.
“The only thing riskier than lending to family is lending to complete strangers, which is what banks do thousands of times a day,” he said.
Sirianni explains this structure effectively gives the child two loans. While the smaller loan is to the parents, the bank still manages the repayments, security and paperwork for the parent’s loan for a deposit. The interest rate charged on the portion of the loan that is from the parents is 50% that of the main loan.
Those giving their children the loan can see the full amount paid out through repayments or as a result of sale or refinancing.
“While some parents may have been very reluctant to provide financial assistance in the past, they should feel far more comfortable knowing they have security over the children's property,” said Sirianni.
“It will no doubt make it easier for children to ask for help, and for parents to be able to say yes, knowing they are protected.”
One such product, from Bluebay Home Loans, is called a Parent Assist Loan. It markets itself as an Australian first.
Interestingly, parents who involve themselves in these loans are also eligible to receive a share of the investment growth on the property.
{mijopolls 64}
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