Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Home Loans

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The ANZ boss Shayne Elliott says it's time for a rethink of APRA's 7.25% home serviceability restriction rate.
The current measure that banks apply is the benchmark mortgage rate plus 2.25 per cent, or 7.25 per cent, whichever is higher. 
The Commonwealth Bank of Australia (CBA) was the last of the big four to announce its heightened mortgage serviceability criteria in mid-2017.
But the banks are now feeling the pinch from APRAs serviceability restrictions that say borrowers must be able to handle a 7.25% repayment interest rate.
The banks are campaigning for it be relaxed as it's crimping their earnings.
"We had a floor like this before the APRA requirement, it's prudent... I'm just saying I think common sense says it should be relative to where the interest rate cycle is," Ellliott said yesterday.
“The lower interest rates get the less likely it is that rates are going to get to 7.25 per cent any time soon,” Mr Elliott said.
“At some point you need to rethink it … commonsense says it should be relative to where the interest rate cycle is.”
He also noted that ANZ went too far in scrutinising its new loans under a stricter interpretations of responsible lending standards.
It was now loosening its approach.
“This is a marathon, not a sprint,” Mr Elliott said of fine tuning the process and hiring more loan assessors. 
ANZ loan arrears rates remained at low levels with only tentative signs of stress - some 600 extra borrowers of their 1 million home loans - getting into hardship over the past year.   
 
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j.ballantyne1990-6AQqhLzZaK

Time to rethink APRA's 7.25% home loan serviceability restriction: ANZ boss 

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An overview of ANZ's home loan portfolio from their half year results investor pack published today shows a big fall its in its investor portfolio along with a big drop in interest-only loan borrowers.
Just 18 percent of their portfolio is IO compared with 26 percent this time last year and 36 percent in 2017.
The number of investor loans has dropped over the two years from 34 percent to 31 percent.
Click here <a href="https://www.propertyobserver.com.au/images/2019/5/1/ANZ-Home-Loan-Portfolio.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/1/ANZ-Home-Loan-Portfolio.jpg" alt="">
At $269 billion lent, its entire loan book has 1 million accounts, down on the 1,018,000 this time last year.
Some 82 pecent of loans are variable.
Click here <a href="https://www.propertyobserver.com.au/images/2019/5/1/ANZ-Australi-Division-Portfolio.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/1/ANZ-Australi-Division-Portfolio.jpg" alt="">
There is an average 55 percent LVR compared with an originating 67 percent LVR. 
The average loan size has kept up to $269,000, up from $266,000 this time last year.
ANZ says it has 15.1 percent market share.
Around 52 percent of loans are broker originated.
ANZ Banking Group met expectations against a difficult operating environment with 2 per cent rise in cash profit to $3.564 billion.
 
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jchancellor-FAypfDUnLy

ANZ's home loan portfolio shows big drop in interest-only borrowers

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Australia’s fifth largest home loan lender, ING, has dropped rates on several fixed home loans by up to 0.19 per cent. 
The rate cuts affect ING’s 2, 3 and 5-year fixed home loans for owner-occupier customers paying principal and interest. 
RateCity data shows almost half of all leaders have cut fixed rates on over 500 products since the beginning of the year.  
Sally Tindall, research director at RateCity.com.au said the move from ING came on the back of fixed rate cuts from three of the big four banks over the last two weeks.  
“Now that CBA, Westpac, NAB and ING have slashed fixed rates in recent weeks, other lenders may be forced to consider cutting their rates to maintain a competitive edge,” she said.  
“In particular, all eyes are on ANZ who currently has the highest 3 and 5 year fixed rates out of the big banks for owner occupiers paying principal and interest.” 
ING fixed rate changes - owner occupier rates principal and interest repayments
<div class="_2QenMz1fGG4qxjqu3PlFkl">
<div class="_2QenMz1fGG4qxjqu3PlFkl">
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
Product
</td>
<td valign="bottom" nowrap>
New rate
</td>
<td valign="bottom" nowrap>
Old rate
</td>
<td valign="bottom" nowrap>
Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
2 year - Orange Advantage
</td>
<td valign="bottom" nowrap>
3.59%
</td>
<td valign="bottom" nowrap>
3.75%
</td>
<td valign="bottom" nowrap>
-0.16%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
3 year - Orange Advantage
</td>
<td valign="bottom" nowrap>
3.64%
</td>
<td valign="bottom" nowrap>
3.83%
</td>
<td valign="bottom" nowrap>
-0.19%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
5 year - Orange Advantage
</td>
<td valign="bottom" nowrap>
3.99%
</td>
<td valign="bottom" nowrap>
4.09%
</td>
<td valign="bottom" nowrap>
-0.10%
</td>
</tr>
</tbody></table>
Lowest fixed rates – major banks
<div class="_2QenMz1fGG4qxjqu3PlFkl">
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
 
</td>
<td nowrap>
CBA
</td>
<td nowrap>
Westpac
</td>
<td nowrap>
NAB
</td>
<td nowrap>
ANZ
</td>
</tr>
<tr>
<td>
2 year
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.69%*
</td>
<td nowrap>
3.75%
</td>
</tr>
<tr>
<td>
3 year
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.69%*
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.99%
</td>
</tr>
<tr>
<td>
5 year
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.19%
</td>
</tr>
</tbody></table>
</div>
*First home buyer special
Lowest fixed rates – low rate lenders
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
2 years
</td>
<td valign="bottom" nowrap>
Mortgage House
</td>
<td valign="bottom" nowrap>
3.57%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
3 years
</td>
<td valign="bottom" nowrap>
Suncorp Bank
</td>
<td valign="bottom" nowrap>
3.49%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
5 years
</td>
<td valign="bottom" nowrap>
Greater Bank
</td>
<td valign="bottom" nowrap>
3.74%
</td>
</tr>
</tbody></table>
 
  
 
</div>
 
  
<div class="_2QenMz1fGG4qxjqu3PlFkl">
  
 
</div>
</div>
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ING counters the big banks with its own rate cuts

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Independent online mortgage marketplace HashChing has brought to market a conveyancing partnership that provides customers with a one stop shop solution for legal assistance on home loan settlements.
Removing one of the major pain points of property transactions, for a fixed fee, customers can be instantly partnered with experienced solicitors who specialise in real estate settlement.
HashChing is a mortgage marketplace that connects customers looking for home loan deals with experienced community rated mortgage brokers nationwide.
Since launching less than four years ago, HashChing has settled more than $1.3 billion worth of home loan applications and has helped more than 46,000 Australians get a better deal on their home loans. 
“We know that around 20% of settlements are delayed due to a conveyancer’s inefficiency and we’re tackling this problem head on,” said HashChing CEO Mandeep Sodhi. 
“We also know that many transactions are very complex and often end up requiring litigation, which is why partnering with experienced solicitors makes so much sense.”
Sodhi said research showed two out of three first home buyers did not know what conveyancing was, with nearly 40% mistakenly believing it referred to checking property boundaries or other physical matters with the property.
“Our army of community rated mortgage brokers already help Australian borrowers by dealing with banks and lenders on their behalf, and the online mortgage marketplace is now looking to streamline the legal part of the process as well.” he said.
Once a HashChing mortgage broker lodges the loan, borrowers can utilise conveyancing services and get connected to certified solicitors within minutes from their HashChing consumer portal.  
“Getting all the legal documents organised has traditionally been one of the most time-consuming and inefficient parts of buying a property.
"Borrowers are at the mercy of conveyancers, who can sometimes drag the process out unnecessarily and worse – charge more for their own delay.  
Sodhi said borrowers looking to purchase a property without an experienced solicitor were potentially gambling with hundreds of thousands of dollars. 
“By integrating a conveyancing solution into the HashChing online portal, our prices are fixed starting from $995 incl GST plus disbursements, there are no nasty surprises or hidden fees for borrowers, either,” he said.
Customers can log-in to the online dashboard at any stage to check progress of their application with the solicitor.
In addition to the real-time updates to borrower, the HashChing partner broker is also kept updated on the progress through their portal with the exact breakdown of the home loan costs that need to be lodged with the lender.  
 
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New conveyancing service to make HashChing home loan process faster

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New figures have revealed national lending activity has slumped to the lowest levels in five years.
The AFG Mortgage Index and Competition Index released today showed lending volumes across Australia in the first three months of 2019 dropped 10 per cent on the previous quarter.
Volumes in the March quarter were 15 per cent lower than the same period last year.
The 23,049 loans lodged during the quarter represented the lowest number in six years, while the $11.6 billion volume was the lowest quarterly figure since 2014.
AFG Chief Executive Officer David Bailey said the numbers provide stark evidence that the lending environment has significantly deteriorated.
"It’s a wake-up call for policymakers.
"The softening of the residential market across the country is a real concern, with Sydney and Melbourne driving the downturn and some states enduring a prolonged period of falling activity.
“Despite moves by regulators to encourage activity, investment lending remains at an all-time low of 26 per cent amid the well- documented concerns around property values, particularly on the eastern seaboard.
“Today’s data confirms we have reached a critical time in the housing market cycle and we would urge policy makers to tread carefully in any regulatory responses flowing from the Royal Commission.
"This is a time for considered policy formulation that considers the full potential impact on the lending market. It is clear, the broader implications for the Australian economy are huge if we get it wrong.
“The volume of loans written in WA for the quarter of just over $1.3 billion represents the lowest volume seen in WA since the inception of the AFG Mortgage Index. Whilst there has been some talk of WA moving into a brighter resources-led period of sunshine, it is clear the local economy needs broader stimulus.”
The tight lending market and falling house prices have contributed to a decline in NSW volumes of almost 20 per cent on the same quarter in 2018. Victoria is down 16 per cent over the same period.
All other states are also much lower than the same time last year. The only lift in volume over the quarter was seen in the Northern Territory, with an increase in the average loan size and a decrease in Loan to Value Ratios.
Following the relaxation of APRA-imposed caps on Interest Only (IO) lending, AFG noted a small lift in IO lending driven by the major lenders.
Four years ago, fuelled largely by strong investor demand, Interest Only loans accounted for around 60 per cent of all loans written. Now, with investor loans accounting for a quarter of new business, Interest Only loans account for just 19 per cent of lodgements.
The breakdown of mortgages between major lenders – the ‘big four’ banks and their affiliated brands – and non-majors highlights the crucial role mortgage brokers play in delivering competition to the home loan sector.
The AFG Index showed the market share of non-majors has now been locked in above 40 per cent for more than a year despite a marginal increase for the majors to 58.6 per cent of total lodgements.
Mr Bailey said “The value mortgage brokers deliver by facilitating a competitive lending environment is most starkly shown by the ongoing decline in the market share of the major banks, which peaked in Q3 of 2013 at 78.2 per cent. Outside of the mortgage broking channel, the majors have control and dominate the market. The distribution capability provided by mortgage brokers enables the country’s non-major lenders to compete.
<a href="https://www.propertyobserver.com.au/images/2019/4/16/AFG%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/16/AFG%201.jpg" alt="">
Source: AFG
“With the sole exception of First Home Buyers, who remain the last bastion of major bank lending, the growth in non-major lending has been broadly uniform across all other customer types.”
Major lenders are ahead on fixed-rate loans, with a steady increase across the quarter, leaving four out of five homebuyers that chose the certainty of fixing their interest rates doing so with a major lender.
Examination of the overall volumes going to the major bank reveals the big losers over the past six months have been ANZ and NAB. NAB’s share has halved over the past six months to now be as low as five per cent.
The Westpac stable of brands emerged as big winners, as has Bankwest – whose renewed focus on broker and customer service has paid strong dividends in Western Australia. Bankwest accounts for more than one in every five WA originations. Together with CBA, Bankwest has a stranglehold on more than 35 per cent of all loans written in the State.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/16/AFG%202%20.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/16/AFG%203.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/16/AFG%204.jpg" alt="">
Source: AFG
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AFG report home loan activity falls to lowest in five years on back of credit squeeze

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Australian prime home loan arrears rose in January, according to a recently published report by S&amp;P Global Ratings.
The Standard &amp; Poor's Performance Index (SPIN) for Australian prime mortgages rose to 1.45% in January, up from 1.38% in December.
The increase however was down from its December to January hike 12 months ago.
Mortgage arrears are generally at their peak in January, following spending over the Christmas and summer holiday months.
The Northern Territory's SPIN is the highest at 3.16%, having seen the highest increase over January (+0.39%).
Western Australia's SPIN follows, up 0.21% to 2.94%.
Click here to enlarge.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/9/State-Arrears.jpg" alt="">
Tasmania was the only state to see its arrears fall in January, from 1.12% to 1.10%.
Investor loans recorded a larger increase in arrears than owner-occupier loans, rising to 1.40% in January from 1.27% in December.
Owner-occupier arrears are still higher than investor arrears. Their 0.09% rise in January took them to 1.69%.
S&amp;P suggest the increases might reflect the ongoing transition from interest-only to principal and interest repayments, which is more common for investor loans.
"We expect refinancing pressures to continue in the current environment of tightened lending conditions. High household indebtedness increases borrowers' sensitivity to changing economic conditions and interest-rate movements," the S&amp;P report stated.
"This vulnerability is greater for borrowers with weaker credit attributes, such as those with high loan-to-value ratio loans. Exposure to loans with higher credit risk is not material in most RMBS portfolios and is unlikely to put any significant pressure on arrears in the short to medium term while employment conditions remain stable.
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Australian prime home loan arrears rose in January

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One of the biggest changes for investors has been the repricing of investment home loans, in response to the removal of the interest-only investment lending caps from January 2019 and the continuing slowdown in demand, according to Canstar.
Since September 2018, 47% of the lenders on Canstar’s database have decreased one or more of their investment interest-only offerings across fixed or variable rate loans.
The average interest rate for interest-only has come down across variable, one-year fixed, two-year fixed, three-year fixed and five-year fixed by up to 0.08%.
“What’s interesting is while we’re seeing the average investor home loan rates decrease, the lowest offer in the market is where the greatest movement has happened over the last six months with decreases of up to 0.20% on fixed loans,” Mickenbecker adds.
When comparing the average one-year fixed interest only loan amount of $400,000, the average decrease could mean a saving of up to $253 per year. Looking at the market minimum the rate cuts could mean a potential annual saving of up to $518 for investment property owners.
On the reverse side, the majority of increases for investment lending that occurred since September 2018 have been on variable rate loans, with an average increase of 0.15%, meaning that investors are paying higher rates for their existing loans.
While that market has observed more increases on variable rate investment loans than fixed, there has still been a 0.01% reduction on the average variable rate for new borrowers. The reduction has resulted from a number of large downward movements with the average decrease being 0.25%.
Mickenbecker says with great deals out there for new loans it’s a good time for investors, and homeowners for that matter, to check their rate, fees and loan features to see if they could be getting a better deal.
With lenders’ home and investment loan interest rates on the move in both directions, Australia’s biggest financial comparison website, Canstar, released its latest Home Loan Star Ratings research.
Canstar considered more than 4,800 home loans finding that on average a 5-Star Rated home or investment loan had access to lower interest rates compared to the market average.
Canstar’s finance expert, Steve Mickenbecker says it’s not hard to see how borrowers may be left confused as to whether they’re getting a good deal or should look to refinance their home loan.
While the latest Australian Bureau of Statistics figures show a 17.1% year-on-year decline in value for new lending commitments to owner occupiers compared with a 28.6% decline in value for lending commitment for investment dwellings, the door is still wide open for investors, he said.
Canstar has awarded a 5-Star Rating to 26 home loan lenders after they were found to offer outstanding value.
Owner-Occupier Home Loan Star Ratings
Outstanding Value – Home Lender
This award goes to home loan lenders that provided outstanding value products to owner-occupiers across variable and fixed-rate loan terms considered in these ratings. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000, for borrowers making principal and interest repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>Bank Australia</li>
<li>Freedom Lend</li>
<li>Greater Bank</li>
<li>Heritage Bank</li>
<li>Homestar Finance</li>
<li>HSBC</li>
<li>ING</li>
<li>Qudos BanK</li>
<li>RACQ Bank</li>
</ul>
The new Canstar research found owner-occupiers with a 5-Star Rated home loan had access to lower interest rates compared to the market average.
Outstanding Value – Variable Home Lender
This award recognises lenders that consistently offered outstanding value products to owner- occupiers across varying loan amounts. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000 for borrowers making principal and interest repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>AMO Group</li>
<li>Easy Street Financial Services</li>
<li>Freedom Lend</li>
<li>Homestar Finance</li>
<li>HSBC</li>
<li>MOVE Bank</li>
<li>Pacific Mortgage Group</li>
<li>Reduce Home Loans</li>
<li>SCU</li>
</ul>
The research shows owner-occupiers who choose a 5-Star Rated home loan have the potential to save themselves thousands of dollars over the life of the loan. For instance, the average variable interest rate for a 5-Star Rated residential loan valued at $350,000 with an 80% loan-to-value ratio (LVR) and principal and interest repayments was 3.68%. This compares favourably to the marketaverage of 4.47% out of all products on Canstar’s database. Over a 25-year loan term, that difference could equate to more than $50,000 in savings on the total cost of the loan.
Outstanding Value – Fixed Home Lender
This award recognises home loan lenders that consistently provided outstanding value products to owner-occupiers across one, two, three and five-year fixed rate loan terms. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000 for borrowers making principal and interest repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>BankVic</li>
<li>Freedom Lend</li>
<li>Greater Bank</li>
<li>ING</li>
<li>Newcastle Permanent</li>
<li>Qudos Bank</li>
<li>RACQ Bank</li>
<li>TicToc Home Loans</li>
<li>UBank</li>
</ul>
Borrowers looking to fix their home loan for a set period may want to consider the difference in interest rates between a 5-Star Rated loan and the market average. For example, the average 5-Star three-year fixed interest rate for a residential loan valued at $350,000 with an 80% LVR and principal and interest repayments was 3.83%, compared to the average from our database of 4.19%.
Investment Home Loan Star Ratings
Outstanding Value – Investment Home Lender
This award acknowledges lenders that consistently offered outstanding value products to investors across the variable and fixed-rate loan terms considered in these ratings. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000 for borrowers making principal and interest and interest-only repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>Freedom Lend</li>
<li>Greater Bank</li>
<li>Homestar Finance</li>
<li>loans.com.au</li>
<li>Newcastle Permanent</li>
<li>RACQ Bank</li>
<li>TicToc Home Loans</li>
<li>Virgin Money</li>
<li>Reduce Home Loans</li>
<li>Suncorp Bank</li>
</ul>
The research revealed 5-Star Rated home loans offer investors lower interest rates when compared to the market average within the investor home lender profile.
Outstanding Value – Investment Variable Home Lender
This award goes to home loan providers that consistently offer outstanding value products to investors across variable loans. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000 for borrowers making principal and interest and interest-only repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>Freedom Lend</li>
<li>Gateway Bank</li>
<li>Homestar Finance</li>
<li>loans.com.au</li>
<li>Newcastle Permanent</li>
<li>Pacific Mortgage Group</li>
<li>RACQ Bank</li>
<li>Reduce Home Loans</li>
<li>State Custodians</li>
<li>Community First Credit Union</li>
</ul>
The research revealed there were potential savings to be found for investors if they chose a 5-Star Rated home loan. For instance, the average 5-Star variable interest rate for an investment loan valued at $350,000 with an 80% LVR and principal and interest repayments was 4.25%, while the interest-only rate was 3.98%. These average rates compare favourably to the market averages from our database of 5.08% and 4.77%, respectively. These differences can potentially add up to be quite significant over time. For example, over a 25-year loan term, that difference means investors making principal and interest repayments could save more than $51,000 on the total cost of the loan.
Outstanding Value – Investment Fixed Home Lender
This award recognised lenders that consistently provided outstanding product offerings to investors across one, two, three and five-year fixed rate loan terms. Home loans were assessed across four loan amounts ranging from $200,000 up to $750,000 for borrowers making principal and interest and interest-only repayments. Here are the winners, listed in alphabetical order:
<ul>
<li>Aussie</li>
<li>Freedom Lend</li>
<li>Greater Bank</li>
<li>Newcastle Permanent</li>
<li>RACQ Bank</li>
<li>Suncorp Bank</li>
<li>TicToc Home Loans</li>
<li>Virgin Money</li>
</ul>
For borrowers looking to fix their investment home loan, the difference in interest rates between a 5- Star Rated loan and the market average can be significant. For instance, the average 5-Star three- year fixed interest rate for an investment loan valued at $350,000 with an 80% LVR and principal and interest repayments was 4.01%, while the interest-only rate was 4.11%, compared to averages from our database of 4.32% and 4.53% respectively.
Line of Credit Star Ratings
Outstanding Value – Line of Credit
Canstar’s Research team compared the price and features of 48 lending institutions that provided a line of credit secured by a property. Here are the winners, listed in alphabetical order:
<ul>
<li>Aussie</li>
<li>BankVic</li>
<li>Suncorp Bank</li>
<li>State Custodians</li>
</ul>
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Canstar reveals top rated lenders for investors

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National Australia Bank's digital bank UBank will launch Mia (pictured) (short for My Interactive Agent) in what it says is the world's first digital human in the home loan space.
It comes after partnering with a New Zealand tech company to create an artificially intelligent assistant to help in customer applications.
Partnering with FaceMe, a company known for their AI-powered digital humans, home loan borrowers will go face-to-face with Mia and have the ability to interact each step of the way.
UBank aren’t removing their live chat service, simply complementing it with the robot.
Mia will be in action later this month on the UBank website.
FaceMe uses IBM Cloud and Watson, to help create the digital humans who can see, hear, talk with and remember customers.
<div>
<div id="gpt-ad-interscroller-349006" class="gpt-ad" data-gpt-ad-unit-path="/8456/IDG.AU_B2B_CIO.com.au/industries_section" data-gpt-size-mapping="[[[0, 0], [[3, 3]]]]" data-gpt-sizes="[[3, 3]]" data-gpt-targeting='{"node": ["657542"], "idgau_tax": ["news"], "country": ["AU"], "site": ["cio"], "kw": ["service", "mobility", "mobile", "device", "data", "cloud"], "sect": ["industries", "finance_banking_insurance"], "idgau_search_referrer": ["no"], "type": ["article"]}' data-google-query-id="CIu_4ty1suACFcINaAodJ3wBmQ">The platform will be multi-modal and takes input from computer vision, speech and text.</div>
</div>
Using supervised AI training, the digital human is able to combine natural language, understanding with situational awareness, to create an appropriate response.
This is then delivered as synthesised speech and expression by the FaceMe-created UBank digital avatar ‘Mia’.  She can also use fun gifs and animations during her chats.
The assistant was created in partnership with FaceMe, which recently secured US$10 million Series A capital funding after attracting a series of investors from Australia and New Zealand.
The project to create Mia, took about four months.
“Our vision is to enable companies like UBank to create more meaningful and valuable experiences for their customers," FaceMe CEO, Danny Tomsett, said.
"Mia offers an emotionally connected experience for servicing customers making an exciting and important life decision."
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UBank to trial artificially intelligent home loan assistant, Mia

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EXPERT OBSERVER
In November, almost 10,500 first-home buyers took out a home loan, just off the highest number in almost nine years. And as a proportion of all buyers, the share of first-home buyers is at 6-year highs.
The proportion of first-time buyers in the home loan market rose from 18.1 per cent in October to a 6-year high of 18.3 per cent in November (decade-average 17.7 per cent).
The number of loans (commitments) by home owners (owner-occupiers) fell by 0.9 per cent in November after rising by 2.1 per cent in October (the largest gain in 12 months).
Clearly these buyers are celebrating the greater choice of properties on the market, more attractive prices and super-low interest rates.
Over the year to November, almost $238 billion in loans were taken up by owner-occupiers to buy property, just below the all-time high of $240 billion in the year to August. While investors have retreated from the market on the belief that price gains will be harder to achieve, budding home owners are still out in force. 
The number of owner-occupier home loan borrowers in Tasmania stands at 6½-year highs in trend terms with ACT borrowers at record highs, South Australian borrowers are at 18-month highs and Western Australian borrowers at 10-month highs. Too much focus is placed on NSW and Victoria when housing markets in many other parts of the country are doing well.
It is important that investors don’t get duped by ‘lazy analyses. That is, analysis that assumes trends in aggregate national figures apply across all market sectors and regional economies. As data released yesterday shows, the number of homes being built at present is just off all-time highs. And there are still healthy numbers of budding home owners in the market, especially among first-home seekers.
What do the figures show? 
The number of loans (commitments) by home owners (owner-occupiers) fell by 0.9 per cent in November after rising by 2.1 per cent in October (the largest gain in 12 months). But loans are down by 7.9 per cent on the year. 
Excluding refinancing, new loans fell by 0.5 per cent after rising 2.3 per cent in October. 
Loans by owner-occupiers for the construction of homes fell by 2 per cent after lifting 3.3 per cent in October. 
Loans to buy newly-erected dwellings rose by 3.4 per cent – first gain in six months. 
Loans for the purchase of established dwellings (excluding refinancing) fell by 0.6 per cent after rising 2.3 per cent in October. 
The number of refinancing transactions fell by 1.1 per cent. 
Changes in home loans across the country: NSW (down 1.5 per cent); Victoria (up 0.7 per cent); Queensland (down 0.7 per cent); South Australia (down 0.8 per cent); Western Australia (up 2.4 per cent); Tasmania (down 9.2 per cent); Northern Territory (up 22.4 per cent); ACT (down 0.6 per cent).
The value of new housing commitments (owner occupier and investment) fell by 2.5 per cent. 
Owner-occupier loans fell by 1.5 per cent while Investment loans fell by 4.5 per cent. Over the year to November investor loans are down by 23.4 per cent and owner-occupier loans have fallen 7.3 per cent. 
The value of loans by owner-occupiers and investors to build new homes fell 7.2 per cent in November to $2.6 billion after rising 5.8 per cent in October. 
The value of cancelled loans totalled $1.41 billion up from $1.33 billion a year earlier. 
Commitments actually advanced (loans made) totalled $20.66 billion, down from $21.55 billion a year earlier. 
The proportion of first-time buyers in the home loan market rose from 18.1 per cent in October to 6-year highs of 18.3 per cent (decade-average 17.7 per cent). 
The proportion of fixed rate loans rose from 16.3 per cent to a 14-month high of 16.9 per cent. And the average home loan across Australia was $384,700, down 1.1 per cent on the year
What are the implications for interest rates and investors? 
Builders and real estate agents will face differing prospects depending on their location. At present five of the eight states and territories are showing monthly gains in home loans in trend terms. NSW, Victoria and Queensland are in the downturn phase of the cycle. 
Almost 17 per cent of borrowers opted for fixed-term loans in November, a 14-month high. Borrowers that took out 3-year fixed loans in 2015 and 2016 are seeing a major improvement in their budgetary situation when rolling over loans.
CommSec expects no change in official interest rates until late in 2019 at the earliest.
Craig James is the Chief Economist for CommSec
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First home buyer numbers reach six year high: Craig James

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The performance of Australian residential mortgage-backed securities (RMBS), asset backed securities (ABS) and covered bonds will remain largely strong in 2019 amid a cooling housing market, according to Moody's research.
Moody's researchers noted, RMBS delinquencies will increase moderately from low levels due to a house price correction. 
Meanwhile, the securitization of small and medium enterprise (SME) and ‘green’ loans will grow in 2019.
The researchers stated, "the quality of mortgages in new RMBS issued by banks and non-bank lenders in 2019 will be healthy overall."
"However, pressure to sustain high growth could pose a risk to non-bank credit quality over the medium-term, if it pushes these lenders into riskier segments of the mortgage market," they said.
They indicated that the performance of mortgages backing outstanding RMBS will remain strong in 2019, given continued GDP growth and low unemployment.
However, mortgage delinquencies will increase moderately from low levels, given high household debt, a cooling housing market and the conversion of a large number of interest-only loans to principal and interest loans.
Moody's beleive that the securitization of SME and green loans will be a growing feature of the Australian ABS sector in 2019.
They said, "the SME ABS sector will develop amid growing lending to small businesses by emerging technology-enabled financial institutions."
"The green securitisation sector will develop gradually, on the back of growing sales of alternative fuel vehicles and improving consistency of green mortgage standards."
The performance of outstanding ABS will remain strong overall in 2019, reflecting healthy macroeconomic conditions. However, auto ABS delinquencies will increase moderately from low levels, given the increasing proportion of consumer auto loans in the underlying pools.
Moody's noted, "the credit quality of covered bond issuers is high and this will support the credit quality of covered bonds in 2019."
"The credit quality of covered bonds has also remained robust in the face of risks in the housing market, reflecting the sound quality of cover pool mortgages," they added.
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