Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

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Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

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Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

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“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

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The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

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The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

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The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

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Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

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The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

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The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

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Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

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Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

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<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

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Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

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Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

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Buying your first home can be both exciting and overwhelming – especially once the first mortgage bill comes through. However, for many buyers, the purchase of a property can be one of the most rewarding and valuable investments of their lives. If you've just bought your first property and are feeling nervous about the 20-30 year tenure of mortgage payments, we've compiled a simple guide with some tips that could help you to pay down your mortgage debt faster. 

From negotiating new home loan rates to using an offset account or using savvy budgeting techniques, here are 23 ways you could secure a mortgage-free lifestyle sooner. 

<h2>1. Purchase a home you can afford</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_1141644755_0.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_1141644755_0.jpg?itok=v0faBBD6" width="580"></a></figure>Look to <a href="/guides/how-much-should-you-spend-on-your-first-house-in-2020">purchase a home you can afford</a>, as often you'll be required to attain prequalification first. Prequalification means your bank will investigate your financial circumstances and determine <a href="/guides/how-much-can-i-borrow-for-a-new-home">the loan that is most suitable for you</a>. 

Some questions to help determine whether you’re eligible or ready to take on a home loan are: 

<ul>
<li>Will you be debt-free for three to six months?</li>
	<li>Are you able to provide a 5%-20% down payment?</li>
	<li>Can you afford to take out a 15-30 year fixed-rate loan?</li>
	<li>Is the home repayment 25% less than monthly take-home pay?</li>
	<li>Are you financially able to cover the fee moving expenses and leaving your current residence? </li>
	<li>Can you afford the ongoing maintenance and utility bills for this home?</li>
	<li>Do you have enough funds saved for any emergencies? </li>
</ul>
<h2>2. Consider refinancing your home loan</h2>

Renegotiating your current home loan rate with your mortgage lender, or shifting your home loan to a lender who offers a lower interest rate, may result in cost savings and could help reduce the tenure of your mortgage.

<h2>3. Consider an offset account</h2>

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An offset account is a savings or transaction account linked to a home loan account. The balance of the account is “offset” daily against the home loan balance, and therefore you are only charged interest on the difference between the total loan balance and the amount offset.

The money held within an offset account is not regarded as taxable income, as the account does not generate interest, which is beneficial for people who deposit large sums of money into the account.

Depositing money into the offset account with extra income from other sources of income such as bonuses and profits from investment can also help lower your interest repayments, as well as contribute to paying off your mortgage sooner. 

Depending on the lender the money within the offset account also can be withdrawn twice or more in a year with <a href="https://www.yourmortgage.com.au/home-loan-guide/redraw-facility-explained-with-tips-to-lower-your-mortgage/79077/">some lenders charging up to $50 per withdrawal</a>. 

<h2>4. Consider refinancing your home loan</h2>

Renegotiating your current home loan rate with your mortgage lender, or shifting your home loan to a lender who offers a lower interest rate, may result in cost savings and could help reduce the tenure of your mortgage.

<h2>4. Keep your credit card debts manageable </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/screen_shot_2020-02-07_at_4.26.48_pm.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-02-07_at_4.26.48_pm.png?itok=0n7kFOF7" width="580"></a></figure>Aim to clear your credit card of debt each month, as the interest rates on your credit cards and personal loans are often much higher than the interest rate on your home loan. When you pay on time, you avoid paying extra interest or late fees and also help keep your credit score healthy.

Personal Loan: A personal loan sits between a home loan and a credit card loan, and provides a faster and easier process than taking out a mortgage. Unlike a credit card loan, to access the personal loan, you are also required to sign a formal contract. 

Credit Card Rate: A credit card's interest rate is the price you pay for borrowing money. The interest rates, known as the annual percentage rate (APR) are stated as a yearly rate. With a credit card, paying interest on purchases can be avoided if the balance is paid in full each month by the due date. 

Hire Purchase: Hire purchase is an arrangement for buying expensive consumer goods, in which the buyer provides an initial down payment and pays the balance plus interest in instalments. Hire purchase agreements state that the ownership of the merchandise is not officially transferred to the buyer until all the payments have been made.

<h2>5. Split your loan </h2>

You may choose to split your loan in half, with a portion fixed, and the rest variable. 

A <a href="/guides/how-to-choose-the-right-home-loan">fixed-rate home loan</a> ensures your loan repayments are charged at the same interest rate for the length of your loan period. If the loan is not repaid by the end of the period and you choose not to enter another fixed-term contract, the rate is reverted to a variable interest rate. 

A <a href="/guides/how-to-choose-the-right-home-loan">variable interest rate</a> is a loan where the interest rate charged on the outstanding balance fluctuates as market interest rates change. 

To successfully split your loan in half you can contribute through fortnightly payments, a method which gives homeowners a sense of security as fixed payments will remain constant while variable payments will see interest rates rise and fall.  

<h2>6. Make repayments at a higher rate </h2>

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People that choose a loan which is set at the lowest interest rate available can add <a href="https://www.yourmortgage.com.au/home-loan-guide/24-ways-to-get-the-mortgage-monkey-off-your-back-faster/77843/">2-3 points to the repayment amount</a>. For some, this may not make a drastic difference to their bank balance. 

A good idea could be to align repayments with your pay cycle, prior to setting the amount you wish to repay each month. 

<h2>7. Research into smaller lenders as well as big banks</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_425326012_1.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_425326012_1.jpg?itok=xkgYwL2C" width="580"></a></figure>There was <a href="https://www.domain.com.au/money-markets/why-borrowers-are-turning-away-from-the-big-banks-863960/">a period in 2019</a> where homeowners were turning away from four major banks [in Australia] in favour of smaller lenders, as they provided more competitive rates. 

Small lenders have been found to sometimes compete more persistently for your business and provide more personalised service. These companies may also offer home loan options such as longer loan terms, lower ongoing fees and lower interest rates. 

<h2>8. Switch lenders </h2>

Finding a home loan at a lower rate can help you save money. However, always make sure to do your research before switching lenders or loans types. Always make sure to understand the rates and features of the loan, and don't be afraid to tell lenders the exact portion of your income you're prepared to allocate to mortgage repayments. 

<h2>9. Find a package deal </h2>

<a href="https://www.canstar.com.au/home-loans/packaged-home-loans/what-is-a-package/">Package deals</a> or package home loans combine home loans and financial products, which can provide fee waivers for a transaction or offset accounts. Sometimes banks may waive annual credit card fees, provide discounts on insurance, discounted or free financial planning sessions and even discounted share trading. 

<h2>10. Watch out for lenders who offer gifts </h2>

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Introductory rates are commonly referred to as ‘honeymoon rates’, as lenders can try to convince homeowners to select a lower rate for a period of 1-2 years. Although once the honeymoon period has ended or the lender switches to a high variable rate of interest, the person is expected to pay for a much larger rate over the next 20 years. 

Some lenders may also charge costly cancellation penalties for those who opt-out after utilising the honeymoon rates. Don’t be afraid to discontinue business with a lender who is no longer giving you the best service available. 

<h2>11. Portable loans can make moving house easier</h2>

The average home loan is between 25 to 30 years, which is why it is quite common for people to move house whilst still paying off a loan. If you decide to move houses, a portable loan on your existing house that carries to your new property, can save you the inconvenience of refinancing. However, you should be aware of the regulations around buying and selling homes, as there may be <a href="/guides/how-much-does-it-cost-to-sell-a-house-or-apartment">additional charges for the old house</a> and the <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">establishment for the new house</a>.

<h2>12. Pay all your mortgage fees and the charges upfront </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_701873641.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_701873641.jpg?itok=AzmNqrWE" width="580"></a></figure>When paying your mortgage fees upfront, it is sensible to pay with the money you already have, rather than borrowing money from the lender to pay fees and charges. 

<h2>13. Pay your first instalment before it's due</h2>

The first instalment of your home loan may not be due for a month after the settlement. If your lender allows, you may be able to pay your first instalment on the settlement date, which can secure your position ahead of the lender for the term of your loan. 

<h2>14. Pay off the principal</h2>

Every mortgage repayment you make attacks the capital which helps you pay a smaller amount of interest. <a href="/guides/how-to-choose-the-right-home-loan">You may want to avoid interest-only loans</a>, as paying interest on your loan for a set period may result in the principal amount being charged at a higher propensity interest-only period.

<h2>15. Use your equity</h2>

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Equity is the difference between the current value of your property and the amount you owe the lender. If you have already paid a percentage of your home loan, then you would have equity. Some lenders will allow you to borrow money using your equity as collateral. <a href="/guides/how-does-equity-work-in-property">Using equity to improve your property</a> also helps increase its value in the long run. 

<h2>16. Discover what you could be entitled to</h2>

Some lenders <a href="https://www.homeloanexperts.com.au/waived-lmi/">may offer discounts and special conditions</a> to those from specific professions, such as certified medical professionals. In these cases, a lender may waive or lend at a higher loan to value ratio before charging a Lenders Mortgage Insurance, which may provide you with a significant head start on paying off your loan.

<h2>17. Keep ahead of the game</h2>

Check the status of your <a href="/guides/how-to-choose-the-right-home-loan">home loan</a> each year, as well as new home loan offers that you could be applicable for. <a href="/guides/housing-market-effect-on-wealth">Keeping yourself knowledgeable</a> about this will help you to maintain a competitive mortgage rate, and avoid overpaying interest. 

<h2>18. Budget</h2>

When trying to save money, a budget is a good way to organise your finances, balancing your home loan repayments as well as household bills. This will also help determine how much disposable income you have left over.

<h2>19. Know how much you’re spending on luxury items</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_507639565_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="348" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_507639565_0.jpg?itok=_2hu2Qoo" width="580"></a></figure>Keep a budget so that you can identify what you spend most of your earnings on. Perhaps limiting dining at a restaurant or cafe to once a week, and instead, cook meals at home. Reducing your power usage, changing energy providers and upgrading your old appliances can be a great way to ensure your home is more energy-efficient, which will also result in lower power bills. Avoid purchasing low-quality items that are likely to need replacing. For more tips on how to save money, <a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">check our article</a> about how you can save for a house deposit in a year. 

<h2>20. Using gifted money towards your loan</h2>

If you receive any bonuses at work, cash gifts or inheritance and you’ve opted for a variable interest rate, then you could consider allocating a portion of the amount for your mortgage payments. 

<h2>21. Rent out your home/spare rooms on Airbnb</h2>

<a href="/guides/breezybnb-chooses-urban-s-5-best-brisbane-apartments-for-airbnb">Listing your home on Airbnb</a> can be a great way to bring in some extra funds. Money earned from listing your home can also be put towards your loan repayment. Listing your home while you're away is also a great way to ensure your home is always occupied.

<h2>22. Use your tax refund</h2>

[smartcode_project:default project_id=22057]

Your tax refund can be a great way to make a bulk payment on your home loan. For those that choose to lease their home, the ongoing rental property cost <a href="/guides/18-ongoing-rental-property-costs-and-which-ones-are-tax-deductible">may be tax-deductible</a>.

<h2>23. Seek additional work</h2>

Working a second job if possible, is a great way to save money quickly. Look for work with flexible hours, or casual opportunities that will fit around your schedule.
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Olivia Round

How to secure a mortgage-free lifestyle sooner

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With subdued and stagnant incomes, more Australians are feeling strapped for cash, and are being forced to dip into their savings to cover the rising cost of living expenses, ME’s latest Household Financial Comfort Report (HFCR) has revealed.
Empty nesters (50 years old and over) reported a record low in financial comfort.
“You may think that empty nesters would have fewer financial worries – most have paid off their mortgage, their kids have flown the coop, the majority are still working and some have voluntarily retired," consulting economist for ME, Jeff Oughton said.
"However, many are still concerned about current finances as well as worried about their life after work, expressing an 8% drop in comfort with their expected standard of living for retirement, as well as a 7% fall in their ‘comfort with savings’.
"Recent changes to superannuation in the past year appear to be significantly impacting this life stage."
The report also pinpointed students reporting a substantial decline in financial comfort of 15% to 4.18 since the last report.
“Students are always among those with the lowest financial comfort in each HFCR due to a lack of comfort with cash savings, investments, net wealth and their reduced ability to manage a financial emergency," Oughton said.
"However, this recording is a major negative spike and can be attributed to falls across most components that make up the Household Financial Comfort Index, in particular ‘level of debt’, ‘comfort with living expenses’ and ‘confidence in the handling a financial emergency’.
Oughton said more households are overspending to cover necessary living expenses and are drawing down on savings, with mortgage and rental stress remaining high.
“Comfort with short-term cash savings was the most notable component of the Household Financial Comfort Index to decline, seeing a 3% decrease to 4.93 out of 10 during the first half of 2018 – its lowest level in a couple of years.”
The report showed that households’ confidence to raise money for an emergency dropped three points below the average since the survey began, and fewer households reported they are saving. The estimated amount that Australians are saving each month decreased by just over 10% during the first half of 2018.
More Australians are also overspending – households who ‘typically spend all of their income and more’ increased 3points to 11% during the six months to June.
“Clearly, this is a potential tipping point. At the moment, Australians generally can dip into their savings to get by. However, some households may get to a point where there’s no more savings to draw from.
"Currently, around a quarter of Australian households have less than $1000 in cash savings,” Oughton said.
“If we see big negative shocks in the coming year, whether they are higher loan rates or an international trade war, then a lot more families will suffer increased financial stress.”
The latest report found that the cost of necessities continues to be the major financial concern for households, with more than half of households reporting it as their ‘biggest financial worry’, up seven points to 53% in June 2018.
Similarly, when asked why their financial situation worsened during 2017– 18, 44% of households said it was due to the cost of everyday items, an increase of four points since the previous report.
Consistent with ABS wage data, the latest HFCR data found nearly half of households (42%) still had the same income as a year ago, while a quarter (24%) reported income cuts and 34% received a raise. Unsurprisingly, ‘comfort with income’ declined in the past year by 2% to 5.61.
Oughton said similar to strengthening in the ABS jobs data, the report revealed increased confidence in people’s ability to find a job; however, high levels of job insecurity and underemployment remain. Around 23% of casual and part-time workers said they would prefer to undertake full-time work if they could.”
In the six months to June 2018, the report’s overall Household Financial Comfort Index went sideways from 5.49 to 5.44, once again indicating that the financial comfort of Australian households is not advancing.
Mortgage and rental stress still high, despite the housing market cooling.
The report revealed housing stress is still prevalent among Australian households.
For those with home loans, a broadly unchanged 45% of households reported to be contributing more than 30% of their disposable income towards mortgages during the past six months – a common indicator of financial stress
"The good news for renters is that financial stress has lessened somewhat during the past six months, thanks to thehousing market cooling and rents falling. While almost three-quarters (72%) of renters were previously contributing over 30% of their disposable income towards rent, this number dropped significantly to two-thirds (67%) in the most recent survey,” Oughton said.
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j.ballantyne1990-6AQqhLzZaK

Empty nesters feeling financial discomfort: ME report

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Not only are more Australian parents giving their kids free handouts, they are failing to teach young ones how to work for and save money, a new survey by  comparison site finder.com.au has found.
The survey of more than 1,000 Australian adults found that while almost two in three Aussie kids (63%) are receiving pocket money – about 3.3 million kids aged up to 17 – only one in three of them (or about 1.09 million) actually have to do chores for their cash.
The state of our nation’s personal finances could be set to get even worse, as many parents who had to work for their childhood allowance are choosing to forgo this valuable lesson in their own parenting. Only two in five (42%) adults who had to do chores for their pocket money are now instilling these values in their kids.
The total cost of pocket money per child over the course of their childhood is $7,016 according to the finder.com.au study, with the average weekly allowance sitting at $9.30, or $483.60 a year per child.
Unsurprisingly, those children on the cusp of adulthood – aged 17 years – were found to be the most expensive age, costing their parents almost $800 for the year. Children aged 0-2 were receiving an annual average of $260 from their parents.
The study also found that parents were most likely to give their kids pocket money when they were aged 13-14, with 78% of parents doing so. As kids get older and start taking on part time jobs, the percentage of kids receiving pocket money decreases, dropping to 63 percent at 17 years-old.
The more children parents had, the less likely they were to give their kids pocket money with 60 percent of children with no siblings receiving an income, but only 34 percent of four-children households give their kids pocket money.
Michelle Hutchison, Money Expert at finder.com.au, said that there is a silver lining for parents looking to nurture good money habits in their children provided they give them the right tools.
"Teaching your kids the value of money from a young age is crucial to help them gain an understanding and respect for savings. Our research shows that not enough parents are proactive in teaching their kids the value of money on a regular basis by using bank accounts and pocket money for chores.
"Pocket money is a terrific way to teach kids how to value money but it's almost pointless without including conditions like doing chores and keeping the amount consistent.
“The finder.com.au research showed that children have been twice as successful at achieving a savings goal if they have their own savings account; We also found that kids who receive pocket money are more likely to have one. But there’s always room for improvement.Clearly the love of building savings begins young, so finding the right tools to spur their interest is vital.
“Giving a young one their own not only allows them to ‘play grown up’, it actually stimulates positive personal finance habits that will genuinely benefit their future selves.
"Pocket money doesn't have to be an expensive exercise – if you can teach your kids how rewarding it is to save up their money for a goal it will be even more meaningful."
Other findings from the finder.com.au survey:
<ul>
<li>Kids who don't do chores may not only be missing out on learning the value of money, but they are likely to receive more than their working counterparts. Only 40% of kids who do chores were likely to receive over $5 per week, whereas 65% of kids who don't do chores received over $5</li>
<li>How do you make $260 a year without doing anything? Be an Aussie kid under two years of age. Kids up to two received an average of $5 a week</li>
<li>As kids age, their income tends to increase at 7.6% annually – that's compared to the average savings account rate of about 3%!</li>
<li>68% of parents surveyed received pocket money when they were a kid but 71% of which didn't have to do chores to receive it. About 1 in 3 parents who did receive pocket money didn't repeat the practice with their kids</li>
<li>Generation Y (aged 18-34) is the most likely age group to give their kids pocket money (54%). As parents age, the likelihood of giving pocket money decreases to 41% for Generation X and 37% for Baby Boomers who have children under 18.</li>
<li>27% of parents have not opened a bank account for their kids.</li>
</ul>
State by State
<ul>
<li>The state most likely to give their children pocket money is ACT (76%) followed by Tasmania (73%). Northern Territory kids are the least likely to receive pocket money (50%)</li>
<li>Of the parents who give their kids pocket money, Queenslanders were most likely to insist they do chores (52%)</li>
<li>NSW children are most likely to get pocket money for nothing, with only 15% of them being asked to do chores</li>
<li>Tasmanian kids are most likely to have a bank account (90%) followed by children from Victoria (77%)</li>
<li>ACT and NT kids are the least likely to have a bank account (67%).</li>
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