<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

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 seven years 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 units.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be 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>.

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

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<div>GUEST OBSERVER</div>
<div> </div>
<div>Australian Finance Group (AFG) released its index for the final quarter of 2016, reporting more than $15 billion in mortgage lodgement volume.</div>
The index, which is not seasonally adjusted, rose by 9.9 percent over the year to December.
<a href="https://www.propertyobserver.com.au/images/2017/01/12/AFG5.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/12/AFG5.jpg" alt=""> Nationally, the average mortgage size of $488,875 was up from $475,083 from the prior year.
<a href="https://www.propertyobserver.com.au/images/2017/01/13/AFG2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/13/AFG2.jpg" alt=""> 
<div>"Tale of two seaboards"</div>
<div class="separator"> </div>
<div class="separator">Over the year there was strong growth in lodgement volumes in both New South Wales (up 10 per cent) and Queensland (18 per cent), but the real driver of growth was Victoria with a substantial 23 percent rise. </div>
<a href="https://www.propertyobserver.com.au/images/2017/01/13/AFG3.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/01/13/AFG3.jpg" alt=""></div>
 Offsetting this, investors have backed off from Western Australia and the Northern Territory.
<a href="https://www.propertyobserver.com.au/images/2017/01/13/AFG4.jpg" target="_blank">Click to enlarge</a> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/13/AFG4.jpg" alt=""> 
<div>In the December quarter the average mortgage size scaled fresh heights in each of the three most populous states. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/01/13/AFG1.jpg" target="_blank">Click to enlarge</a></div>
<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/2017/01/13/AFG1.jpg" alt=""> Investor rebound Finally, the share of AFG's market relating to investors ticked back up to 34 percent.
<a href="https://www.propertyobserver.com.au/images/2017/01/13/AFG6.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/01/13/AFG6.jpg" alt=""></div>
<div>The wrap</div>
<div> </div>
<div>While activity in South Australia was flat, the weakness of the WA market in 2016 was evident, with the recent introduction of a new first home owners grant in the state designed to combat this. </div>
<div> </div>
<div>Loan to value ratios across the year were fairly consistent at around 69 percent, about 0.7 percent lower than in 2015.</div>
<div> </div>
<div>Over the year non-major lenders have been pinching market share away from the main players, a trend that AFG expects to continue into the new year as consumers increasingly recognise the potential benefits of using a broker.</div>
<div> </div>
<div>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. </div>
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pwargent-M4siyDbqQY

NSW mortgage size passes $600,000 average: Pete Wargent

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The Australian Competition &amp; Consumer Commission (ACCC) will not oppose Australian Finance Group Ltd's proposed acquisition of Connective Group Pty Ltd.
As mortgage aggregators, both AFG and Connective act as intermediaries between mortgage brokers and lenders, such as banks. 
In their statement of issues in February, the ACCC identified a number of preliminary concerns with the proposed acquisition that will create the largest mortgage aggregator in Australia. 
After completing a second round of enquiries, ACCC chair Rod Sims says: "After our extensive public review of the acquisition and our consultation with a wide range of interested parties, we believe the combined AFG-Connective is likely to continue to face robust competition.”
“Mortgage brokers will still have a range of other aggregators, should they become dissatisfied with the combined AFG-Connective’s pricing or service. Lenders will likewise have a range of aggregators through which they can access potential consumers,” Mr Sims said.
The combined AFG-Connective is likely to have the incentive to retain lenders on their panel who are popular with consumers to attract brokers. 
The ACCC ultimately found that substantial lessening of competition was not likely. 
Other established aggregators, including Finsure and the aggregators owned by the National Australia Bank, are likely to continue to provide strong competition.
Further information is available at <a href="https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/australian-finance-group-ltd-connective-group-pty-ltd">Australian Finance Group Ltd - Connective Group Pty Ltd</a>.
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j.ballantyne1990-6AQqhLzZaK

ACCC does not oppose AFG-Connective mortgage aggregator deal

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86 400, Australia’s first smartbank, has signed a strategic partnership with aggregator Australian Finance Group Ltd, to further expand its broker distribution network. With AFG on board, one in three mortgage brokers in Australia now have access to 86 400’s smarter approach to home loans.
Over the past 26 years, AFG has grown to become one of the largest aggregators in the market, with more than 3,000 brokers and a loan book exceeding $140 billion. The partnership will see AFG brokers gain access to 86 400’s fully featured Own home loan products from 10 August, which remains the first and only digital mortgage offering for brokers in the country. 
With the Own home loan launched in November 2019, 86 400 has quickly become a favourite of mortgage brokers nationwide who are taking advantage of the digital solution, competitive rates and fast turnaround times. The 86 400 solution enables digital verification of identity, digital collection of expense and income information and all 86 400 documents are signed electronically.
86 400 however, goes beyond just innovating across the application process for customers, it directly addresses some of the biggest pain points for brokers such as digital accreditation and innovating a more equitable claw back provision with a step-down process.  
While current approval times from larger lenders have continued to slow amidst the current global turbulence, 86 400’s Own home loan can give brokers a yes or no decision in just a few hours.
Robert Bell, CEO 86 400 said: “Brokers and customers want an application experience that’s easy to use and a process that gets them a decision quickly, giving both the broker and customer certainty and peace of mind, and that’s what we’re delivering through our digital solution. Partnering with AFG allows us to continue to help more Australians and more brokers realise the benefits of the 86 400 home loan.” 
AFG Head of Sales &amp; Distribution Chris Slater welcomed 86 400 to the panel: “We are pleased to announce the addition of 86 400 to the AFG panel as we continue to ensure the needs of our brokers and their customers are met.” 
“One of our core values over the last 26 years has been supporting our brokers to bring competition to the market and the team at 86 400 are very passionate about competing so they’ll fit in very well at AFG.  We will continue working closely with our brokers and funders like 86 400 to give them the best possible chance to compete for business.”
86 400 Own Home Loan fixed rates are at an all-time low of 2.24 per cent p.a. (2 year fixed comparison rate: 3.02 per cent p.a.) for owner occupied principal and interest. 
86 400 remains the only newly licensed bank in Australia with both home loan and everyday banking products in market. “We’ve said from day one that we’re not interested in building a niche bank. We have a long-term, sustainable business model, which balances both sides of the ledger, and are busy building and rolling out products and partnerships we know our customers want”, Bell said. 
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86 400 supercharges its home loan distribution with AFG partnership

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Australian Finance Group Ltd (AFG) has unveiled a new standard that summarises crucial mortgage information in a consumer-friendly format for home loan customers.
Home loans within the AFG network now require both the customer and the mortgage broker to approve a one-page summary that clearly explains why the home loan product is appropriate for the customer.
The concise one-page document spells out to the customer their requirements and objectives, the recommended product, the reasons why the product was selected and any remuneration to be paid by the lender. The document also provides similar material about other products considered before settling on the final product selection.
A new one-page disclosure will be included at the top of the existing AFG National Consumer Credit Protection documents.
The move comes ahead of the Federal Government’s best interests duty laws currently in the parliament.
AFG Chief Executive Officer David Bailey said ASIC challenged the mortgage broking sector to source the information and present it objectively and transparently so that customers clearly understand their options.
He said, “AFG is not waiting for others to set our agenda. The reality is the new obligations under the proposed best interests duty don’t come as a surprise to most mortgage brokers."
One in every 11 home loans in Australia last year was arranged through AFG’s 3000-strong national network of brokers, with settlements of more than $31 billion in the 2018-19 financial year.
“Now that AFG has lifted the bar to further demonstrate our customers are first and foremost, we are looking forward to working with ASIC and the rest of the industry on a regulatory guide to formalise the framework for the best interests duty,”
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AFG make pre-emptive move on home loan transparency

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Australian Finance Group has reshaped its executive team in preparation for the heightened industry and regulatory engagement required in the post-Royal Commission environment.
Reflecting AFG’s increasingly diversified earnings base, the management changes also consolidate executive accountability for all residential mortgage product sales and elevate the leadership role for the growing AFG Securities (AFGS) business.
Under the new structure, AFG General Manager Residential &amp; Broker Mark Hewitt will take up the new position of General Manager Industry &amp; Partnership Development. AFG Home Loans General Manager Chris Slater will assume the broader sales and distribution leadership role across both the residential broking and the AFG Home Loans businesses. AFG will also appoint a General Manager for the AFGS business, a new role on the executive team that reflects the increasing importance of the business line.
After leading AFG Sales and Distribution team for the past 13 years, Mark will maintain responsibility for the company’s residential mortgage lending relationships and his mandate will be expanded to include all lender relationships across our AFG Home Loans, Commercial, AFG Business and Personal Loans business lines.
AFG Chief Executive Officer David Bailey said “The external forces impacting our business across the past 18 months have underlined why it is crucial to constantly engage with the broader industry and continue to position AFG as taking a leadership role in the market with both regulators and our lending partners.
“While we have done a tremendous job in reminding regulators, politicians and the broader community of the vital role our industry plays in delivering a competitive lending market, we must ensure that the broker proposition remains front and centre of the debate as the industry shapes its future over the next three years.
“During the recent challenges the mortgage broking sector has faced, Mark has played a significant role in ongoing advocacy of both AFG and the broader industry, stewarding much of the activity undertaken as our industry became a focus during the election campaign.
“With the three-year review period now underway, the need for AFG and the industry more widely to represent our brokers positively in the eyes of regulators and government is even more important. Mark will focus on our engagement with regulators and work to drive positive change across the industry.
“With Mark’s move into the new role, Chris will assume the position of Head of Sales and Distribution for all residential products and continue his influence over AFG’s commercial white label Thinktank product.
“Chris has a depth and breadth of knowledge across our business with his moves from National Accounts Manager in Queensland to NSW State Manager to General Manager AFG Home Loans in Perth. The skill sets and passion Chris has demonstrated in those roles over the past 12 years will hold him in good stead as he takes up this new challenge. I congratulate both Mark and Chris on their appointments.
“The changes strengthen our leadership across the business and reflect the priorities of the business as we continue the diversification of our earnings base.”
AFG is planning to invest in a growing part of its business with a newly created role of General Manager for its AFG Securities business. AFGS hit a milestone recently when it reached $2 billion under management, underlining the growth of the business line.
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Mark Hewitt and Chris Slater get more responsibilities at AFG

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

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Australian Finance Group has released the AFG Mortgage Index for the final quarter of the 2016/17 financial year.
AFG CEO David Bailey noted that the non-major share of the market is now at 35 percent.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.08%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.08%20pm.jpg" alt="">
“Significant structural change to the lending market brought about by tighter lending rules has seen increased flows of business to the non-major lenders.”
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.18%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.18%20pm.jpg" alt="">
“As the majors re-price their mortgages and change lending policies to meet regulatory caps, consumers are turning to mortgage brokers to get a full picture of the choices on offer in such a competitive market,” he said.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.26%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.26%20pm.jpg" alt="">
“The non-major lenders are helping fill the void left by some of the majors and consumers are benefiting from the fact that a mortgage broker can offer products from those lenders without a branch network.”
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.34%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.34%20pm.jpg" alt="">
A series of rate rises and policy changes has also had an impact on the investment market.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.44%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.44%20pm.jpg" alt="">
“In what will no doubt be welcome news for the regulator, investment lending has dropped to 31% of our total lending for the quarter as lenders continue to tighten their criteria,” said Mr Bailey.
Refinancing figures are also down from 35% to 29% as re nance options for borrowers with interest only or higher LVR investment loans decrease and others choose to stay put until the market settles.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.53%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.07.53%20pm.jpg" alt="">
Lender policy restrictions have also seen the average loan size fall in every state apart from Queensland.
“The part of the market that has been virtually untouched by regulators and lenders is the principle and interest owner category.
“As a result, those opting to upgrade their homes have increased from 34% to 39% in response to some attractive lending offers,” he concluded.
In a sign that homeowners are picking the bottom of the market for interest rates, the number choosing to fix their rate has jumped significantly to finish the quarter at 23.7%.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.08.15%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.08.15%20pm.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%201.08.25%20pm.jpg" target="_blank">Click to enlarge</a>
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Non-majors and fixed rates in favour among home borrowers

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Leading mortgage broker Australian Finance Group (ASX:AFG) announced that its interim CEO David Bailey has been appointed as the chief executive.
Bailey was appointed the interim CEO after Brett McKeon stepped down as the chief executive earlier this year. McKeon was one of the co-founders of AFG in 1994.
AFG is one of Australia’s largest mortgage groups. It has more than 2,800 members nationally and manages more than $127 billion in mortgage finance.
Bailey has been with AFG for over 13 years and was its chief financial officer and chief operating officer earlier. He also led AFG’s Home Loans business.
AFG chairman Tony Gill said that following a review by its board, Bailey emerged as the preferred candidate.
“David’s skills and background are ideally suited to the role of AFG CEO,” said Gill in a media release.
“Importantly, having worked closely with our former CEO Brett McKeon both prior to Brett stepping back and also since David’s appointment as Interim CEO, he is well known to AFG’s brokers, business partners and shareholders.”
Bailey said he was looking forward “to steering AFG further down the path of diversified growth whilst also ensuring the core broker proposition of choice, competition and strong consumer outcomes is maintained.”
 
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Mortgage broker AFG appoints interim CEO as chief executive

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AFG has reported promising signs in the first home buyer (FHB) market as the 17 year old scheme, introduced to offset the effect of the GST on home ownership, receives a shake up.
The national First Home Owner Grant (FHOG) scheme funded by the states and territories has largely been hailed a success as it seeks to ease the hefty upfront costs for new entrants to the market. 
The effectiveness of the scheme however has been questioned of late and it appears this may have encouraged governments to act. 
<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/2017/04/19/header_fhogs.jpg" alt="">
“The Victorian state government has recently announced a number of changes to the scheme in that state and New South Wales is currently examining their options to help counter rising house prices in those states,” said AFG interim CEO David Bailey.
AFG data shows positive signs amongst the FHB market with lodgments lifting back up to 10% for the first time since the first quarter of 2014.
“First home buyer numbers have been in the single digits for some time. 
It is good to see state governments looking to support those trying to get a foot on the property ladder. 
Time will tell if the proposed changes to the scheme go far enough to assist those looking to buy their first home in our two most populous states.”
APRA-imposed lender policy changes have had an impact on both the investor market and refinancers as many lenders lift interest rates for borrowers.
“Lenders have been told by the regulator to rein in their exposure to the investor market and APRA continues to monitor growth in lending to investors,” said Mr Bailey. 
“As a result many lenders have embarked upon a series of rate increases and a tightening of credit policy for investors to comply with APRA’s guidelines.
“This activity has seen investor loans drop from 34% to 32% across the quarter.”
Those looking to refinance have also been impacted, with that segment of the market dropping from 38% to 35% last quarter – its lowest level since the third quarter of 2015.
In overall lodgment numbers, AFG has reported a lift of 8% on Quarter 3 last year driven primarily by increasing activity of upgraders.
“With a significant amount of changes being made to the appetites and pricing of lenders, help from a mortgage broker can be vital for consumers trying to navigate the dynamic market that is home lending,” said Mr Bailey.
“A result that should please the regulators is a drop in the loan to value ratio (LVR) in all states apart from South Australia where a marginal increase of 0.4% was evident. 
The national LVR is now down to 68.6%, the lowest level since the first quarter of 2013,” he concluded.
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