Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

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The golden age of banks controlling the home loan market seems to be ending, with active home borrowers set to be the main beneficiaries.
The market share of the big four banks continues to fall.
According to research from UBS analyst Jonathan Mott mortgage origination via the big four’s branch networks has fallen from a peak of 48% in 2013 to presently around 37%.
ANZ’s branch network experienced the sharpest reduction.  
As a result of the shift, the major banks’ share of new home loans has dropped from 78% to 71% over the past six years.
Mott noted the majors still have 79% share of all outstanding mortgage credit outstanding, but that new lending competition was intensifying as customers migrate away from the major banks.
Reputational damage post the banking royal commission accelerated the trend along with repeated times of not fully passing through RBA rate cuts to its annoyed variable rate customers.
The Hoff, actor David Hasselhoff, was the unlikely influencer that helped turbo-boost the ANZ Bank's recent home loan activity.
The ANZ saw a 30% plus bounce in the home loan applications accompanying the recent two month campaign featuring the 1980s star of Knight Rider and Baywatch.
The cheesy ANZ advertising campaign also promised 300,000 bonus Qantas Points for a loan of $300,000 or more, which could comfortably take a family of four to Fiji return or a couple to New York.
The marketing campaign slogan was "a home loan offer so good you don't need a celebrity".
The two month campaign was perfectly time to capture the spurt in buying interest around the time of the May election.
The multi-media ANZ campaign ran from July until late August, attracting some 1.7 million views on YouTube.
There was certainly some negative social media suggesting The Hoff was a "has been". 
The Hoff, who proposed to his wife, Hayley Roberts at the top of the Harbour Bridge climb in 2012, was back in Sydney for just a day to do the filming earlier this year.
Helping turn the tide on its falling home loan applicants, the ANZ chief executive Shayne Elliott credited the campaign.
He noted the Hoff campaign had blown through its volume targets "every single day".
“We think it’s a signal to the market we’re back — to the broker market, in particular, but also to our branches," he said.
Elliott also noted the increased volume came through "operational" improvements and an improved property market.
Before the campaign began, APRA statistics showed ANZ had 15% of the owner occupier home loan market, well behind the Commonwealth Bank's 26% and Westpac with 21%.
"Average (application) levels in the second half were more than 30% higher than the first half," the chief financial officer Michelle Jablko said.
Elliott conceded earlier this year the bank had become too conservative assessing home loan applications.
Westpac chief executive Brian Hartzer advised this week that he expects lending to be “relatively flat” over the 2020 year.
Westpac highlighted that the group’s credit quality “remains sound”.
“Nevertheless, we have seen a small rise in 90 day mortgage delinquencies over the year, in part due to low wage growth and slowing economic activity.
"70% of our Australian home loan customers are ahead on their repayments including offset accounts,” he added.
Hartzer said the economy would continue to feel the squeeze throughout 2020 as the residential construction cycle headed towards a low.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Golden age for big four home loan dominance ending

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The ANZ has seen a sharp boost in its home loan applications.
It credits some of the success to its recent advertising campaign featuring The Hoff.
The marketing was along the lines that the "offer so good" you didn't need a celebrity.
ANZ ran a cheesy campaign featuring David Hasselhoff to promote a home loan that offers bonus Qantas Points. 
This campaign promises 300,000 bonus Qantas Points for an ANZ home loan of $300,000 or more.
<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/2019/10/31/ANZ%20home%20loan%20application%20trend.jpg" alt="">
They've also trimmed their interest only portfolio significantly over the last two years.
Owner occupier interest only loan amounts have dropped from $33 billion to $14 billion over two years.
Investors interest only loans have dropped by nearly half, down from $49 billion in 2017 to $26 billion in 2019.
<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/2019/10/31/ANZ%20housing%20portfolio.jpg" alt="">
Owner occupier principal and interest has grown over the year, with $156 billion worth of loans rising to $164 billion.
Investor principal and interest also rose by $5 billion in the last 12 months.
The details came when the ANZ reported its latest profit, $6.47 billion, which analysts said was flat.
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j.ballantyne1990-6AQqhLzZaK

The Hoff boosts ANZ home loan applications as IO borrowers drop away

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ASIC has now commenced proceedings in the Federal Court against ANZ for misrepresentation and unconscionable conduct.
ASIC will allege that ANZ was not entitled to charge certain periodic payment fees under the bank’s contracts with its customers.
Between August 2003 and 23 February 2016 (the 2003-2016 Period), ASIC alleges that ANZ wrongly charged transaction fees and non-payment fees for periodical payments between accounts in the same name.
They stated, transaction fees were charged when a periodical payment was successful, and non-payment fees were charged when a periodical payment could not be made due to insufficient funds in the customer’s account.
During the 2003-2016 period the transaction fee for periodical payments varied between $1.70 and $4 for business accounts and was either $4 or free for retail accounts. And the non-payment fee for periodical payments varied between $35 and $45 for business accounts and was between $6 and $45 for retail accounts.
ASIC alleges that between 26 July 2013 and 23 February 2016, ANZ unlawfully charged the fees on at least 1,340,087 occasions.
ASIC estimates that the total gross loss to customers during the period 1 January 2008 to 23 February 2016 is in excess of $50 million. ANZ has paid approximately $28 million in remediation to customers to date.
However, ANZ has not paid remediation to customers who have been charged the fees prior to 31 December 2007.
The authority contends that ANZ first became aware there was a risk the bank was not entitled to charge these fees in July 2011. 
However, ASIC will say that ANZ did not:
1. provide written notification of the existence of a possible issue in relation to the fees to ASIC until 14 February 2014; 2. commence notifying affected customers about the issue until at least 23 September 2015; 3. change its terms and conditions to permit the charging of the fees until 23 February 2016; and 4. commence making remediation payments in relation to the unlawfully charged fees until August 2016. 5. At the heart of ASIC’s action is the fact that ANZ continued to charge the fees during the 2003-2016 Period, despite what ANZ already knew.
ANZ first reported the matter to ASIC in February 2014.
ASIC stated, "in September 2018, ANZ contacted ASIC advising that information they had previously provided to ASIC relating to ANZ’s identification of the issue was incomplete. As a result of the new information, ASIC commenced an investigation into ANZ in October 2018."
"ASIC alleges ANZ breached section 912A(1)(a) and (c) the Corporations Act 2001 (Corporations Act) which requires a licensee to ensure that the financial services covered by its licence are provided efficiently, honestly and fairly and to comply with financial services laws because it amongst other things, provided incomplete or misleading information when it reported the issue to ASIC in February 2014."
"ASIC further alleges breaches by ANZ of the Australian Securities and Investments Commission Act 2001 (ASIC Act), including that ANZ engaged in misleading or deceptive conduct, made false or misleading representations and engaged in unconscionable conduct because the bank:"
1. continued to charge the fees when it knew that the fees were unlawful or were at risk of being unlawful; 2. knew that it was highly unlikely that it would be able to remediate all affected customers; 3. failed to inform customers who may have been affected by its unlawful charging until September 2015; and 4. deliberately did not make remediation payments to customers who had been charged the fees between August 2003 to 31 December 2007. 5. The ASIC Act contraventions attract a maximum pecuniary penalty of between $1.7 million and $2.1 million per contravention.
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ASIC sues ANZ for unconscionable conduct over unlawful transaction fees

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ANZ has announced it will decrease variable interest home loan rates in Australia by 0.25% pa, the full RBA rate cut, effective July 12.
They are <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">once again the first of the Big Four to cut rates</a>, unlike in June when they only passed on a 0.18 basis point reduction, they are passing on the full 0.25 basis points.
The first to call was <a href="/expert-insights/finance/athena-home-loans-match-the-full-rba-cut-again">once again Athena, a non-bank lender</a>, who passed on the whole July cut, reducing rates by 0.25 basis points, which they also did in June.
ANZ may have made this decision following the backlash last month which prompted the federal Treasurer Josh Frydenberg to say, “I think the ANZ has let down its customers.”
“This is deeply disappointing from the ANZ," he stated following ANZ's decision to not pass on the full June RBA rate cut.
ANZ Group Executive, Australia Retail &amp; Commercial, Mark Hand said: “Today we have decided we will reduce variable interest rates for our home loan customers by 0.25% pa. Importantly, we will apply this reduction across all our variable rate home loans.
“We looked at a number of factors before reaching this decision, including business performance, market conditions and the impact on our customers.
“On balance, we believe this is the right decision for our home loan customers and for our business,” Mr Hand said.
The ANZ changes are as follows: 
1. Decrease all variable interest rates for Australian home and residential investment loans by 0.25%pa. 2. For Standard Variable Rate Owner Occupiers paying principal and interest this reduces the Index Rate to 4.93%pa, from 5.18%pa. 3. For Standard Variable Rate Owner Occupiers paying interest only the Index Rate reduces to 5.48%pa, from 5.73% pa.
So far none of the Big Four have indicated as to whether they will reduce rates in line with ANZ.
But at around 6pm CBA announced it will reduce its standard variable rate home loans by between 0.19% p.a. and 0.25% p.a.
<ul>
<li>Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a) to a new record low rate of 4.93% p.a.</li>
<li>Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.</li>
<li>Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.</li>
<li>Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.</li>
</ul>
CBA will also introduce a new special term deposit offer, with an extra bonus offer for existing pensioner customers.
At 6.30 NAB announced it will reduce its variable rate home loans by 0.19% per annum, effective 12 July. 
This is on top of the 0.25% reduction last month by NAB.
Around 6.30pm Westpac announced it was reducing its variable interest rates for home loan customers, including a reduction of 0.20% p.a for owner occupiers and a reduction of 0.30% p.a. for investors with interest only repayments.
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">With the same 0.2% last month</a>, Westpac's combined rate cuts of the past two months ranks as the lowest for home loan customers.
The following interest rate changes will come into effect on Tuesday 16 July 2019 at Westpac.
<ul>
<li>Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.98% p.a. for customers with principal and interest repayments.</li>
<li>Variable residential investment property loan reduced by .20% p.a. to 5.53% p.a. for customers with principal and interest repayments.</li>
<li>Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.57% p.a. for customers with interest only repayments.</li>
<li>Variable residential investment property loan rate reduced by .30% p.a. to 5.79% p.a. for customers with interest only repayments.  </li>
</ul>
“Today’s announcement means our Standard Variable Rate (SVR) will be the lowest it has been in more than 45 years for owner occupier home loan customers with principal and interest repayments,” David Lindberg, Westpac Chief Executive, Consumer said.
 
 
 
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ANZ first to cut rates again, this time the full cut

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The ANZ was the first of the big four banks to cut rates, nine minutes after today's RBA decision.
They didn't pass on the full 0.25% rate cut with rates reduced only by 0.18 basis points effective June 14.
ANZ Group Executive, Australia Retail &amp; Commercial, Mark Hand said, “in making this decision we have weighed up a number of factors, such as business performance, market conditions and the impact on our customers, including our depositors.”
“I think the ANZ has let down its customers,” the federal Treasurer Josh Frydenberg said after the RBA decision and the ANZ response. 
“This is deeply disappointing from the ANZ,” Mr Frydenberg said.
Athena was the first non-bank lender to reduce rates, and they passed on the whole cut, reducing rates by 0.25 basis points.
The Sydney based online lender announced a new headline variable rate for owner-occupiers paying principal and interest of 3.34 per cent p.a. within 15 minutes of the RBA decision.
Athena only entered the home loan market this year.
The next to cut rates is Reduce Home Loans making their reducing their rates by 0.25 basis points. 
RACQ Bank have also announced they will also pass on the whole 0.25 per cent rate cut.
At 3:50 the Commonwealth Bank (CBA) announced a full rate cut effective from June 25.
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ANZ first to pass on part of June 2019 RBA rate cut

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ANZ Banking Group has again suspended the troubled valuer LMW after another incident involving the posting of unauthorised valuation information on the web.
The bank said last Friday it was "disappointed and concerned" that a new incident had occurred.
ANZ was the first to respond to LMW's second data breach, with the Commonwealth Bank today suspending the use of its services in light of the latest smaller data breach.
LMW was previously known as LandMark White and LMW Hegney. 
"Following LMW’s recent data incident, CBA can confirm we have indefinitely suspended the company from our valuation panel," a company spokesman said.
"The safety and security of our customer information is of paramount importance to us."
Meanwhile LMW company secretary John Wise advised today only a "small number of clients have again suspended workflows to LMW".
"The majority continue to work closely with LMW to understand the disclosure and any impact on their customers and LMW appreciates the way they are responding by supporting LMW, its employees and shareholders rather than acting in a way that ultimately rewards the criminal attempting to damage LMW’s reputation," Wise added.
There was an earlier data incident in January that left 137,500 records sitting on a dark web forum for 10 days.
LMW provided a further market update on the disclosure of documents on a US based sharing platform called SCRIBD.
LMW first became aware of the documents posted on SCRIBD late on May 29 with information relating to the establishment of SCRIBD accounts by the criminal provided to the NSW Police.
Based on a review of the documents posted to SCRIBD, LMW advised it was apparent that very few of the documents had been viewed or downloaded by anyone prior to being removed (other than LMW’s internal and independent response team).
The vast majority of the documents uploaded to SCRIBD are 2017 residential "short form" valuations in PDF format and have very limited personal information recorded in them (limited to a name and address). There are no bank account or identity details included in these documents.
"The nature of these documents together with the small number of non-valuation documents loaded to SCRIBD clearly indicate that this is not a cyber-attack on LMW but rather the deliberate acts of a person known to LMW," it advised shareholders.
"LMW suspects that this person has taken the documents from LMW via a manual process and is attempting to damage LMW’s brand and reputation.
"There is absolutely no indication that the person is attempting to derive personal gain from the disclosure.
"LMW is treating this activity incredibly seriously and is engaging with law enforcement to investigate the activities.
"LMW will support this investigation with full force, in an effort to identify the wrongdoer and prevent further activities.
"LMW is limited in what it can say given the ongoing investigation."
Following the cyber breach identified in early February 2019, LMW implemented significantly enhanced security measures that were independently reviewed by our third party, industry recognised, IT consultants and the cyber / security teams from the major banks, all which concluded that the risks of further cyber incidents had been appropriately mitigated.
"If the perpetrator is allowed to succeed in their efforts to damage LMW’s brand and reputation, this will have implications for the wider valuation industry’s viability," it advised the market.
"Further, if the approach of dumping internal documents on the web successfully damages LMW, its employees and shareholders, it opens an avenue for disgruntled employees of other organisations to do the same.
"This activity must be deterred, and we thank the wider community for its support (and look forward to further support) to stamp this activity out."
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ANZ and CBA stop LMW valuations after second web privacy breach

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ANZ has cut rates across several fixed rate home loans packages as of May 10.
It makes them the last of the <a href="/news/westpac-joins-other-big-two-to-cut-fixed-home-loan-interest-rates">big four banks to reduce fixed rates</a> on home loans.
Australia’s fourth largest bank has cut between 0.20 per cent and 0.60 per cent off owner occupier and investor fixed loans.
The cuts make their rates more comparable with their big four competitors.
<img src="https://www.urban.com.au/images/2019/5/10/ANZ%20Rates%201.JPG" alt="">
(Source: RateCity.com.au)
On the same day, Macquarie Bank, Australia’s eighth largest home lender has reduced variable rates on a range of loans by up to 0.51 per cent.
Macquarie Bank's lowest ongoing variable rate, available to new owner occupiers paying principal and interest with a 30 per cent deposit, is now 3.69 per cent – a drop of 0.12 per cent.
As a result they now offer a lower a lower variable rate than the big four banks alongside HSBC, who offer the same rate for new customers.
Sally Tindall, RateCity.com.au research director said, "with more competitive pricing, Macquarie Bank has seen an 18.4 per cent growth in their home lending year on year, according to the most recent data from APRA."
“The move by ANZ today comes as no shock. Some of their fixed rates were sticking out like a sore thumb. Now ANZ has some of the most competitive 3 and 5-year fixed rates available from the big four banks,” she added.
<img src="https://www.urban.com.au/images/2019/5/10/ANZ%20Rates%202.JPG" alt="">
(Source: RateCity.com.au)
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ANZ finally cuts fixed home loan rates

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

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The ANZ-Property Council Survey for the June quarter shows a further decline in sentiment in Australia’s property sector. 
Confidence has hit a new low and is now at the lowest level since the survey began in 2011.
Residential property continues to lead the fall in overall sentiment.
Nearly all the key residential indicators declined further in the June quarter, with sentiment, prices and construction all reaching fresh lows. 
"Importantly though, the outlook for credit availability improved, tentatively suggesting that the housing sector is reaching an inflexion point," it noted.
The largest decline in confidence came in New South Wales, which is consistent with the fact that Sydney has seen the most marked weakness in house prices.
 Not far behind was Victoria, while Queensland, South Australia and Western Australia saw more moderate declines. 
But ANZ Head of Australian Economics, David Plank, commented that the most important aspect of the latest ANZ-PCA property survey could be the improvement in the availability of finance.
"It was a modest improvement in this part of the survey in mid-2017 that signalled greater stability in the housing market later that year and in early 2018.
"Finance availability then deteriorated sharply, continuing to fall through the rest of 2018 and into 2019.
"We think this deterioration was the trigger for the renewed house price weakness in Sydney and Melbourne from that point.
"The turn in finance availability captured in this survey could signal a turn in the market.
"Certainly it suggests we may be past the worst of the downturn in building approvals.
"We need to be cautious, though, about the outlook."
He added finance is still difficult to get, and sentiment in the residential property space is very negative.
"This primarily reflects the price outlook, which has fallen further in New South Wales and Victoria.
"Sentiment does tend to lead rather than follow prices, however, certainly over the past few years.
"We think the continued downturn in price sentiment reflects recent developments rather than indicating a deterioration in the outlook.
"The shift in expectations with regard to interest rates may help the outlook.
"Still, we expect further declines in house prices this year."
Outside residential, sentiment is much better. It has, however, declined from its recent peak across most sectors. Sentiment in the retail sector is especiallysoft, which is not surprising.”
Sentiment declined in the commercial space as well, although it remains much more positive than is the case for residential. 
Declines in confidence were seen in all segments (retail, tourism, office) except industrial. 
It noted forward work schedules have declined, but remain elevated, reflecting the fact that the amount of work in the pipeline remains substantial but is past the peak. Consistent with the decline in the construction outlook, hiring intentions have also come down.
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NSW sees biggest fall in confidence in property outlook

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ANZ has joined forces with the Property Industry Foundation to combat youth homelessness, with the bank committing to a three-year partnership worth $150,000 to support the Foundation’s PIF House Program.
The Property Industry Foundation works with the property and construction industry to build homes for disadvantaged youth and is set to deliver 125 bedrooms by 2021 under its PIF House Program.
ANZ’s support will contribute to the program’s development pipeline of 44 new bedrooms across several states, including an 18-bedroom crisis accommodation in Melbourne’s CBD, a seven-bedroom house in Orange, NSW and a six-bedroom house in Clayton, Victoria. 
ANZ’s head of property, Jason Cannock said: “The foundation has played a pivotal role in delivering housing outcomes for at-risk youth over the last two decades. 
“We want to play our part in supporting them, so it’s important we partner with our clients across the industry to help deliver more transitional housing to those most in need.”
Kate Mills, Chief Executive Officer, Property Industry Foundation, said ANZ’s commitment will create a long-term legacy.
“Homeless young people typically live in these PIF Houses for up to 12 months until they have the skills to live independently,” she said.
“It means each year, ANZ’s investment will give even more young people a new start. That’s the real value of the contribution.”
The program has completed construction of 32 bedrooms since 2016, with those rooms located in three PIF Houses where carers and counsellors provide support and mentoring to rebuild young lives. 
For 20 years, the Property Industry Foundation has used the resources of the property and construction industry to build bedrooms for homeless young people. 
Companies and people from across the sector in New South Wales, Victoria and Queensland donate their time, expertise, resources and money to help reduce youth homelessness.
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