National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 one- and two-bedroom apartments delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

Joel Robinson

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Twenty-five years after launching one of Australia’s most visionary and successful masterplanned beach communities - Casuarina on the Northern NSW Tweed Coast - developer Consolidated Properties Group has unveiled plans for an $800 million sister project located 10 kilometres south, at Cudgera Creek near the coastal town of Pottsville.

CPG has taken the wraps off Caldera, a 78-hectare masterplanned village that builds on the legacy of Casuarina and aims to help address Northern NSW’s coastal housing shortage via the delivery of 550 homes built in a sustainable manner and addressing affordability and housing diversity, while also focusing on architectural and ecological merit.

Caldera is being brought to life by the same creative team that delivered Casuarina, led by Consolidated Properties CEO and chairman Don O’Rorke, Hutchinson Builders chairman Scott Hutchinson and renowned urban designer Brian Toyota, of architectural practice Bureau Proberts.

CPG has lodged a rezoning application with Tweed Shire Council for the Caldera site, which has been designated since 1991 as the Dunloe Park Urban Release Area, the final land release area within the Pottsville locality and one of only four remaining growth areas along the entire Tweed coastal strip. Preliminary plans for Caldera feature a 13-hectare retail and commercial precinct at the core of the village, surrounded by meticulously planned residential areas comprising around 550 homesites.

The retail hub will be anchored by a Coles Supermarket and will offer 7000 sqm of retail and 23 commercial lots designed to serve the local community and bring together curated shopping, dining, gym, wellness, childcare, medical and other essential services.

<img alt="Cons prop" data-entity-type="file" data-entity-uuid="fca7dc71-4b71-45b1-bb04-5a60bd7158d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.34.04%E2%80%AFAM.png?VersionId=vAKwIvLuwmTKj6blHJRYIEeXS_8lCgUx" />

The project will create more than 1500 jobs over its development cycle, according to its economic modelling, and significantly address the shortage of employment land in the Tweed.

The residential areas will encourage a sense of community via a cohesive urban design that encourages walking, cycling, enhanced resident connectivity and reduced reliance on cars via bike paths and pedestrian-friendly streets.

Homesites will include a range of options from premium ridge-top homes to affordable housing options, ensuring a community that is inclusive of different income levels and designed to appeal to a wide demographic from baby boomers to families, singles and professionals. Architectural and planting covenants on home building will support the village’s built form and protect its character.

O’Rorke says CPG intends Caldera to be a model project delivered efficiently in a dedicated urban release area and ‘very much for this region and for this time’.

“Our vision for Caldera is to create a modern coastal village with its own unique northern NSW identity,” he said.

“Building on our legacy of Casuarina, 25 years on, this new village is designed to stand apart, offering the future of modern living, balancing the natural beauty of the region with contemporary amenities and convenience.

“Caldera will be more than just a place to live - it will be a welcoming, inclusive coastal village neighbouring Pottsville that invites visitors and embraces new residents. With its strong ties to the land, vibrant lifestyle and sense of place, Caldera will set a new standard for village living in Northern NSW.”

<img alt="CPG" data-entity-type="file" data-entity-uuid="9a5a7cf4-5f76-4ddf-bd05-c8fb77d0a787" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.33.59%E2%80%AFAM.png?VersionId=J1CzCGD7kE7fcAMd41V4pKAf_sI4L5Jv" />

The project’s centrepiece is environmental sustainability, with comprehensive wetlands protection measures and planting of native trees, parklands, village greens and communal grounds to enhance the natural beauty of the area.

CPG will also deliver a developer-funded wastewater treatment plant to ensure zero ocean outflows and provide high quality long-term infrastructure for Tweed Shire.

A key focus is wildlife management planning, including extensive conservation controls for the West Pottsville koala population, aligned with Tweed Shire Council’s Koala Plan of Management and designed to enhance koala habitat connectivity and future population growth.

Caldera will extend the existing koala corridor by connecting koala precincts west of the Pacific Highway with populations in the north and east precincts. A koala underpass will be created under Pottsville Road to complete the connection of this important corridor. Native tree plantings will expand essential koala food sources, while approximately eight kilometres of exclusion fencing will be constructed to safeguard the koalas from urban threats.

The Caldera site is nestled in the hills of Cudgera Creek and benefits from its rich natural surroundings including the Pottsville Wetland, Cudgera Creek Nature Reserve and nearby Pottsville Beach.

It takes its name from the surrounding Tweed Shield Volcano and Caldera, the vast bowl-shaped depression stretching from Byron Bay to the Queensland border that 20 million years ago was the world’s largest shield volcano and which has shaped the region’s striking landscape, with Mount Warning standing as one of its most iconic features.

The development is a joint venture between CPG and Pottsville Development Corporation, which made its first investment in Pottsville more than 45 years ago and is the developer of Black Rocks By the Sea, a masterplanned community now part of the fabric of Pottsville and which was the catalyst for the construction of a bridge across the Pottsville Estuary, providing direct access to the beach.

CPG’s $1.5 billion Casuarina Beach township, 10 kilometres to the north of Caldera, commenced construction in 2000 and has become the model for modern Australian, eco-sensitive beachside development.

Consolidated Properties unveils $800m coastal village Caldera in Casuarina

Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Time & Place to take on Mosman apartment market

ME Bank

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Positive sentiment among those in the property market has reached an all-time high, since ME Bank first started its quarterly property sentiment report in 2019.

According to the report, conducted in January, Aussie property investors recorded a 15 per cent increase in positive sentiment over the quarter, with buoyed sentiment supported by expectations for residential property price increases, higher levels of market activity and government incentives.

The rise in positive sentiment was reported across all states and territories, with 72 per cent of those ‘looking to buy’ noting that stimulus measures have made buying or investing more attractive to them.

Combined with the current record-low interest rates, investing in a property is becoming an attractive option. As a result, ME’s head of home loans Claudio Mazzarella said to expect to see property investors back in full force this year.

<h2>Expectations for rising property prices</h2>

Property owners are less concerned about ‘COVID-19 impacting the value of their property’ according to ME’s report.

77 per cent of survey participants indicated they ME’s report ’expect to see property prices bounce back’ this year and 54 per cent of property owners and buyers predicted ‘prices will go up’.

“It’s clear from our latest Report that most Australians anticipate a strong uptick in residential property prices. The data also shows a general increase in people’s sense of wealth and financial confidence as a result of these price movements”, Mazzarella said.

With property <a href="/expert-insights/buying/first-home-buyer-trends-will-2021-be-the-renaissance-of-the-suburbs" target="_blank">experts recommending first home buyers take advantage</a> of the remaining months of the HomeBuilder grant and government incentives, first home buyers may need to get in now.

“The flip side to higher property prices is that it will make it harder for first home buyers to get their foot in the door. It will be important for new entrants in the property market to do their research,” said Mazzarella.

Raised level of activity is expected to continue over the coming months as 78 per cent of report respondents ‘expect there will be more residential real estate activity this season to make up for last year’.

Queensland reported the highest level of positivity in Australia, with 56 per cent in metro areas and 58 per cent in the regions. 
 

<h2>New off-the-plan apartments you can secure in Queensland</h2>

1. Cabana, Palm Beach 
Address: 1 Nineteenth Avenue, Palm Beach QLD 4221 
Three-bedroom apartments from $2,325,000

[smartcode_project:default project_id=84861]

Cabana offers a collection of 34 apartments, delivered by Ignite Projects and designed by Plus Architecture. 

Fringed with coconut palms and offering views over Palm Beach and the Gold Coast hinterland, Cabana boasts an exclusive residential living experience 
 

2. Chevron One, Surfers Paradise 
Address: 36-44 Stanhill Drive, Surfers Paradise QLD 4217 
Two-bedroom apartments from $705,000

[smartcode_project:default project_id=6515]

Delivered by Bensons Property Group, Chevron One rises 41 levels, boasting views of the famous waterways and beaches of Surfers Paradise. 

Designed by Marchese Partners, the residence features an outdoor lagoon pool, residents' lounge and kitchens designed by renowned chef, Shannon Bennett.  
 

3. Miles Residences, Kirra Point 
Address: Corner Miles Street and Marine Paradise, Kirra QLD 4225 
Two-bedroom apartments from $795,000

[smartcode_project:default project_id=27575]

Designed by Woods Bagot, Miles Residences offer a collection of architecturally designed one, two and three-bedroom apartments, many with an additional multi-purpose room. 

The residence, delivered by the KTQ Group, is framed by Norfolk pines and situated upon Australia's rare north-facing beaches. 
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According to ME Bank's quarterly property sentiment report, Aussie property investors recorded a 15 per cent increase in positive sentiment over the quarter

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Is now the time to buy? Positive sentiment at an all-time high among property investors

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Property prices are expected to rise across multiple markets in 2021, according to ME’s head of home loans, Andrew Bartolo. 

He expects a resilient housing market that has weathered the economic pressures of COVID-19 together with lower interest rates will give homebuyers and investors’ confidence.  

According to a ME survey of 1,500 households conducted this month, 46 percent of owner occupiers expect the value of their dwelling to increase during 2021.

Only 5 percent anticipate a decline reflecting a substantial change from six-month prior when only 22 percent expected dwelling prices to rise and 25 percent expected them to decline.

Sentiment among those intending to buy or sell in the next 12 months will likely be "two-speed," he expects.

"Many will be looking to buy or sell as soon as possible, while others may delay their move until they feel more confident about their own personal finances and/or the economy.”

Buyer activity is expected to be up year on year due to so much of 2020 being affected by lockdowns and buyers and sellers waiting to see. 

“More investors will re-emerge in 2021 in search of income and capital growth.

"Record low interest rates will drive momentum across the market.

“Strong first home buyer activity will also continue, after a brief dip in property prices.

"Historically low interest rates, stamp duty exemptions, government grants and the absence of foreign investors will continue to propel first home buyers into action.”

He expects early 2021 is expected to be a bumper property season that will rival the traditional spring frenzy as buyers respond to a late surge in auction listings. 

“Topping the property trends in 2021 is the desire for ‘urban village’ living, related to the significant increase of professionals working from home," he noted.

“While there are still many challenges including unemployment, job insecurity and lower immigration, we’re seeing some positive signs: improved consumer confidence, stronger auction clearance rates, more transactions, and falling loan deferrals – generally considered proof of a healthier market."
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Property prices are expected to rise across multiple markets in 2021, according to ME’s head of home loans, Andrew Bartolo

jchancellor

Property prices to rise across multiple markets in 2021: ME’s Andrew Bartolo. 

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Online home loans are offered by banks and lenders that do not have branch access or employ staff to meet with customers in person. 
More often than not, the trade-off is getting cheaper interest rates and paying lower ongoing fees. 
While most banks and lenders are governed by the Australian Prudential Regulation Authority (APRA), some online lenders are not governed by the APRA. 
Nonetheless, all online lenders must adhere to a set of guidelines by the Australian Securities and Investments Commission (ASIC) which means, though you won't have any in-person banking service, you will still have consumer protection rights which includes the right to make a complaint through the Australian Financial Complaints Authority (AFCA)
There are a growing number of online lenders in the Australian market, the main ones being <a href="https://www.clickloans.com.au/" target="_blank">Click Loans</a> (3.76 per cent comparison rate per annum), <a href="https://www.mebank.com.au/" target="_blank">ME Bank</a> (3.44 per cent), <a href="https://www.statecustodians.com.au/" target="_blank">State Custodians </a>(2.85 per cent)<a href="https://www.statecustodians.com.au/" target="_blank">,</a> <a href="https://www.ubank.com.au/home-loans" target="_blank">UBank</a> (2.84 per cent),<a href="https://tictoc.com.au/" target="_blank"> Tic:Toc</a> (2.8 per cent) <a href="https://australianmortgage.com/" target="_blank">Australian Mortage Marketplace (AMM)</a>, and <a href="https://www.loans.com.au/" target="_blank">loans.com.au</a> (2.8 per cent) to name a few. 
Like most home loans, online home loans require applicants to submit paperwork proving their eligibility for a loan. 
At <a href="https://www.mebank.com.au/home-loans/" target="_blank">ME Bank</a> for instance, the below are required:
1. Proof of Identity
<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/2020/3/9/5_IDENTITY.jpg" alt="">
 
Not being able to meet and greet you in person means that online lenders will need proof that who they're lending to is you. 
Applicants will need at least 100 points of ID upon application. 
ME Bank recommends, "A passport is a good start, plus a combination of your driver's licence, bank cards, Medicare card or birth certificate." 
2. Paperwork 
<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/2020/3/9/business-office-entrepreneur-professional.jpg" alt="" style="caret-color: #000000; color: #000000;">
Not everything online is more convenient, and the paperwork required for an online home loan is a prime example. 
ME Bank required its applicants to have: 
<ul>
<li>At least three consecutive payslips;</li>
<li>A copy of your latest PAYG Summary or Notice of Assessment from the ATO; </li>
<li>Any bank statements showing other income, like Centrelink payments;</li>
<li>Your accountant's details, if you're self-employed; and </li>
<li>Evidence you've saved for a deposit. </li>
</ul>
In addition, paperwork regarding your financial position is needed because being eligible for a home loan is not solely based on how much one earns. 
This set of paperwork is necessary in assuring lenders that you can afford to repay your loan. Therefore, ME Bank also requires:
<ul>
<li>Any other loans or debts you have, like car finance or personal loans; </li>
<li>Assets in your name; and</li>
<li>An estimate of your living expenses.</li>
</ul>
Most lenders will also require you to have a clean credit report prior to approving your finance, so a copy of your cred report will also be important. 
Last but not least, the final piece of paperwork is a statement from you about the security for your loan, which in laymen terms means the home you are applying a loan for. 
You will be required to supply details in writing of the property, and include the signed contract of sale.
If you're building, you'll need a council permit and your fixed-price builders contract. 
Like most of the prior procedures, this is to assure lenders of where the money is going, and whether it is a secure investment. 
3. A Solicitor or Conveyancer
<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/2020/3/9/5_LAWYERS.jpg" alt="">
Last but not least, towards the end of the application, you will be asked to provide details of your solicitor or conveyancer. 
ME Bank explains, "Having your legal professional lined up before you're ready to apply for a loan will speed up the paperwork."
ME Bank is an online bank founded in 1994, and is owned by a group of approximately 30 Industry Super Funds. 
Around 5,000 of Australia's 11,000 mortgage brokers are accredited with ME Bank, so it is crucial that you ask your mortgage broker if they offer ME's home loans. 
Online home loans also have a selection to choose from, so it is recommended that aspiring borrowers shop around to see which is most suitable. 
State Custodians for instance offer the below:
<ul>
<li>Low Rate Home Loan; </li>
<li>Investment Home Loan;</li>
<li>Fixed Rate Home Loan; </li>
<li>Interest Only Home Loan; and</li>
<li>Low Rate Line of Credit </li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

What you need to know when getting an online home loan: ME Bank

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ME Bank's latest quarterly report found that Australia's rising house prices are not deterring first home buyers, and instead buyer sentiment has flipped 180º. The surge of first home purchases is accelerating the increase in property values due to competition in the market. 

The report, conducted at the beginning of January, found that more than half (51%) first home buyer respondents are planning to buy property within the next 12 months. This confidence in the market is even despite 92% of all respondents agreeing that housing affordability is a big issue in Australia.

Urban's data further reinforces ME Bank's findings, with 45% of first home buyers making the most property enquiries over the December/January period, compared to next home buyers (39%) and investors (16%).

In November, <a href="/news/new-urban-data-shows-next-home-buyer-property-enquiries-overtake-first-home-buyer-interest">Urban reported</a> that Next Home Buyers were the most proactive in their property search; however, this sentiment has appeared to have shifted within the space of two months.

<h2>The innate fear of "missing out"</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_146162657.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_146162657.jpg?itok=O4SjbC4K" width="580"></a></figure>ME Bank's General Manager Andrew Bartolo explains that fear of missing out could be a potential reason for the sudden increase in first home buyers' uptake in residential property.

"The recent property price recovery has likely nudged first-home buyers to get in while they can – as though it's now or never – and has created a sense of FOMO," Bartolo says.

"<a href="/guides/how-australia-s-interest-rate-cuts-could-impact-first-home-buyers">Low-interest rates</a> and commentary in the market for the support of first-home buyers may have also contributed to an increase in home-buying intentions."

In November last year, there were even a number of first home buyers who <a href="/news/first-home-buyers-camp-overnight-to-secure-affordable-property-in-geelong">camped overnight to secure property</a> at Victoria's Halcyon Armstrong Creek, 84 kilometres from Melbourne's CBD.

<h2>Purchase with diligence (rather than haste) to be rewarded</h2>

Increased first home buyer competition is not an unexpected market change. We observed the same trend occur in both <a href="/news/new-urban-data-shows-next-home-buyer-property-enquiries-overtake-first-home-buyer-interest">2019</a> and <a href="https://www.corelogic.com.au/news/share-purchases-first-home-buyers-has-lifted">2018</a>, which goes to show the ebbs and flows of the tumultuous property market. While there is discussion across the market suggesting <a href="/guides/five-reasons-why-now-could-be-a-good-time-to-buy-off-the-plan">now is the best time to buy property</a>, many industry experts have weighed in on the importance of buyers purchasing property at a time that is right for them, rather than being tempted to race into a sale.

<blockquote>
"While it may be tempting to get into the market now before prices are predicted to keep rising, it's important to think long-term. Picking the peaks and troughs of the housing market is difficult - buy when it's right for you, at a price you can afford, and get advice from a professional."
</blockquote>

Andrew Bartolo, ME Bank General Manager

In addition to Andrew's advice, due diligence is a critical process when purchasing any property – and one that takes time. A decision made with haste could mean buyers neglect vital aspects of their due diligence research because of time constraints. 

<h2>Property seekers are looking for more variety of housing stock</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_500241331.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_500241331.jpg?itok=bOn2tP46" width="580"></a></figure>Buyer requirements are changing, providing an excellent opportunity for developers to think creatively about their future projects. According to ME Bank's report, almost 1 in 2 respondents identified a lack of choice available on the property market. This means buyers could be making sacrifices regarding their home and its location. Many first home buyers are <a href="/guides/overwhelming-sales-statistics-last-week-reveal-reinstated-confidence-in-the-off-the-plan-market">moving to the outer suburbs</a> of Australia's major cities due to housing affordability. 

Developers are encouraged to accommodate the burgeoning market with a broader range of apartment offerings and take a more future-focused approach. This could involve creating more flexibility and customisation within each floorplan, projects with a more sophisticated integration within the community, more practical amenities (worksheds, vegetable gardens, co-working spaces etc.) or even '<a href="/expert-insights/buying/rent-with-an-option-to-buy-the-housing-model-helping-first-home-buyers-into-the-property-market">rent with the option to buy</a>' developments.

It'll be interesting to watch how the next few months play out, and whether developers cater to the rapidly growing demand. 

If there's something you believe apartments are lacking that developers could include, let us know in the comments. 

<div class="rtecenter">Related articles</div>

<div class="rtecenter"><a href="/guides/2019/06/17/urbans-first-home-buyer-guide">First Home Buyer Guide (24 simple steps)</a></div>

<div class="rtecenter"><a href="/guides/how-to-navigate-australias-first-home-buyer-grants">How to navigate Australia's First Home Buyer Grants</a></div>

<div class="rtecenter"><a href="/guides/20-things-you-should-look-out-for-before-you-buy-property">20 things you should look out for before you buy property</a></div>
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Olivia Round

First home buyers snap up property due to ‘fear of missing out’

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Confidence in the Sydney property market has continued to grow, according to a survey from ME Bank
ME Bank's latest Quarterly Property Sentiment Report, which survey's 1,000 Australians already in the property market, has seen sentiment in the NSW capital soar over the last few quarters.
In the second quarter 2019, only 24 per cent of respondents thought values in the NSW metro area would increase in the next 12 months.
There was a sentiment spike in Q3, but the biggest jump was between Q3 and Q4. Now 57 per cent think values will rise.
<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/2019/11/12/ME%20Bank%20senitment.jpg" alt="">
There's similar confidence in the Melbourne area too. 57 per cent of survey participants believe values will rise in the next 12 months.
Andrew Bartolo, ME's general manager home loans, said the past three months have been a critical time for the property market.
“After a period of price declines in Australia’s key property markets, consistent house price increases over the past three months have created a much-needed period of stability, providing more certainty that early price increases weren’t simply a blip in the data.
There wasn't a large spike in sentiment from the first home buyer camp, which Bartolo says suggests the recent house price movements may have marked the end of a unique opportunity to buy ‘at the bottom’.
"The recent uptick in first home buyer activity recorded by the ABS may represent the scramble to get in while they can due to renewed affordability pressures as prices rise," Bartolo noted. 
<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/2019/11/12/Property%20sentiment%20ME%20Bank.jpg" alt="">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
“The surge in optimism about houses prices over the past six months reflects just how much the external environment has changed since ME launched its first Quarterly Property Sentiment Report in April. 
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
“With a relatively solid spring selling season and a number of months’ worth of house value growth under the belt - according to CoreLogic data - there’s more confidence that the upward trajectory of prices will continue, albeit modest increases.”
</div>
</div>
</div>
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jrobinson-rf4aSBido9

Sydney real estate sentiment continues to rise: ME Bank survey

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ME Bank has announced it will cut interest rates for all existing variable home loan customers by 0.15%, after passing on the full RBA rate cut in June.
The effective date for the latest reduction in variable home loan rates is 23 July. 
ME bank said, "In setting interest rates ME considers the needs of all stakeholders while ensuring the pricing of all products remains sustainable."
Just hours after the RBA announced they are further dropping the cash rate by 0.25% today, non-bank lenders were slashing rates ahead of the Big four.
<a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut.
Another passing on the full rate cut with rates as low as 2.89% is Reduce Home Loans.
Both Reduce Home Loans and Athena's cuts are effective immediately.
Reduce Home Loans was awarded Australia’s Cheapest Home Loan by Money magazine in 2016, 2017, 2018 and 2019.
Resimac and subsidiary State Custodians have both announced they will be passing on the full July RBA rate cut, effective July 24.
The <a href="/expert-insights/finance/big-four-face-non-bank-lender-rate-cut-blitz">Big Four</a> were slower facing a blitz of quick cuts from non-bank lenders, however they have all announced their proposed rate changes which can be seen below.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-1.JPG" alt="">
(Source: Ratecity.com.au)
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ME Bank announces July home loan rate cuts

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ME Bank has announced a historic rate cut, slashing its 2 year fixed home loan rate to 3.43% p.a. – the lowest rate ever offered by the bank.
ME’s 2-year fixed rate is available to home loan customers with a Member Package (for owner occupiers paying principal and interest with an LVR &lt;80%).
The bank has made further rate cuts across its fixed home loan range by as much as 30 basis points.
The changes come into effect on the 18th June 2019.
ME Bank previously announced they will be passing on the full RBA rate cut to variable home loan customers.
The announcement came three days after the <a href="/expert-insights/finance/rba-cut-official-cash-rate-to-a-historic-low-1-25-at-june-2019-meeting">RBA rate decision</a> and was to come into effect on 27th June 2019.
<img src="https://www.urban.com.au/images/2019/6/18/ME%20Bank%20new%20rates.JPG" alt="">
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ME Bank cuts fixed home loan rates to record low of 3.43 per cent

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ME Bank has announced they will be passing on the full RBA rate cut to variable home loan customers.
The announcement comes three days after the <a href="/expert-insights/finance/rba-cut-official-cash-rate-to-a-historic-low-1-25-at-june-2019-meeting">RBA rate decision</a> and comes into effect on 27th June 2019.
On the day of the RBA rate decision all of the Big Four banks as well as a number of smaller lenders announced cuts of varying size.
Both <a href="/expert-insights/finance/nab-joins-cba-in-full-0-25-rate-cut-to-historic-lows">NAB</a> and <a href="/news/cba-announce-full-rate-cut-after-june-rba-meeting">CBA</a> announced they will be passing on the full rate cut. But <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">ANZ is only passing on a cut 0.18 basis points</a>, something Treasurer Josh Frydenberg especially disapproved of stating, “I think the ANZ has let down its customers."
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">Westpac was the last of the big four</a> to announce they were cutting rates, following the RBA's decision they announced their rate cuts late on Tuesday of 0.20 basis points.
ING, the nation’s fifth largest home loan lender chose to pass the full 0.25 per cent cut on to their variable rate customers, effective 25 June 2019.
Popular banks that have yet to announce their intentions include HSBC and AMP.
 
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ME Bank to pass on full RBA rate cut

<html><body>
ME Bank has apologised to customers after 2,500 mortgagors were affected by a “system error” that led to borrowers being charged a higher interest rate without adequate notice.
On 17 April 2018, Members Equity Bank (ME) announced that it was raising its variable home loan interest rates, The Adviser website noted.
Under the changes, ME’s standard variable rate for owner-occupier principal and interest (P&amp;I) borrowers with an loan-to-value ratio (LVR) of 80% or less increased by 6 basis points to 5.09% p.a. (comparison rate of 5.11% per annum).
Variable rates for investor principal and interest borrowers increased by 11 basis points, while rates for interest-only borrowers increased by 16 basis points.
According to ME CEO Jamie McPhee, the changes were brought in as a result of increasing funding and compliance costs.
While the bank did publicise the rate change two days before it was due to take effect, Martin North at the Digital Finance Analytics website suggested usual practice is for a mortgagor to be notified 20 days in advance of an interest rate change.
According to the bank, however, a “system error” led to customers being charged the new rates on 19 April without the adequate time warning.
A ME spokesperson said that the “proper process” is for ME to write to customers to notify them their repayments are going up “but not to increase their repayments until at least 20 days after they get that notification”.
“Unfortunately on this occasion, due to a system error, we increased the home loan repayments immediately for about 2,500 owner-occupier and investor customers — about 1% of our home loan accounts.”
The bank reportedly detected the “error” the following day (20 April) and “immediately intervened to ensure no additional customers were affected”, the spokesperson said.
“We are clearly very sorry for the error and the impact it has had on customers,” the CEO said.
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