Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

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The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

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Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

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“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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[smartcode_project:default project_id=509 project_image_fid=335422]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335426]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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[smartcode_project:default project_id=509 project_image_fid=335427]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

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640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Aussie Home Loans

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The online digital home loan platform Lendi and Aussie Home Loans have announced they have entered into an agreement to merge.

It has been mooted for a month.

The financial press had advised Aussie has 200 outlets and a $70 billion loan book that makes $50 million a year profit while Lendi is a loss maker, recently advising a $37 million loss with an $8 billion book.

Aussie has around 1000 brokers, and Lendi has around 200.

They intend for the proposed merger to "create a market leader in the Australian home loan market."

Lendi shareholders will hold the majority shareholding of 55 percent in the merged business, while Aussie’s current owner, CBA, will hold a 45 percent shareholding.

It will continue to provide funding for the Aussie Select branded home loan product.

The CBA chief executive officer, Matt Comyn said the combined business will have a stronger platform to offer "enhanced digital capabilities for Aussie brokers and a superior experience for customers."

Lendi CEO and co-founder David Hyman suggested it was an "exceptional opportunity" to drive the growth and digitisation of the two companies, both of which had "led disruptive change" in the Australian home loan market. 

Aussie CEO James Symond suggested the merger was another important step in the almost 29-year evolution of Aussie as Australia’s leading retail mortgage broker.

"We are currently posting record lending volumes through our network of over 970 brokers and over 210 stores and, by underpinning Lendi’s technology across our national broker network, we will further accelerate this growth and momentum.”

Completion of the transaction is subject to ACCC approval and other customary conditions.

It is expected to occur by mid calendar year 2021.
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The Commonwealth Bank has announced the merger of its Aussie Home Loans business with online platform Lendi

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Aussie Home Loans merges with Lendi

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New research from Aussie home loans has revealed that uncertainty arising as a result of the ongoing COVID-19 pandemic is leading two thirds (65%) of Australians with property plans to lose confidence in their ability to achieve their property goals.
Consumer confidence in the property market has also collapsed from 76 percent in January of this year, to just 46 percent in June.
More than 6 in 10 – or 61 percent – of respondents further indicated that the pandemic has resulted in changes to their property plans, including a third (35%) who say they have delayed them.
The research, commissioned by leading mortgage broker Aussie, asked the same questions of Australians pre-pandemic in January, and again in June, highlighting the doubt COVID-19 has cast over Australians’ plans to buy or refinance their homes.
Despite the uncertainties, 42 percent of Australians said they want to take advantage of the market, but do not know how. This has led to over half (54%) wanting more guidance when it comes to their property and finances, while a third (36%) said they would be more likely to engage a broker now to help them better navigate the property market. 
Aussie customer data supports the statistics, with enquires remaining relatively steady. Aussie saw a 1.8 percent increase between January to July 2020, relative to the same time period last year, while lodgements are up 16 percent year-on-year, showing that that many Australians are looking for ways to navigate the current environment to see how they can make their property plans a reality.
Aussie Chief Executive Officer, James Symond, said the strong number of enquiries shows that there is still interest in the market.
“There are many opportunities available right now that could make it favourable for Australians to enter the market, invest, downsize or refinance, including lender cashback incentives, reduced interest rates and government initiatives, such as the First Home Owner Grant, the $25,000 HomeBuilder grant, and the First Home Loan Deposit Scheme (FHLDS),” Symond said.
“During what has been a challenging time for many Australians, including a change in personal circumstances or financial outlook for some, brokers have an important role to play in helping Australians understand their options and make smart choices to keep their property goals on track,” he concluded.
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Two thirds of Australian lack property confidence during COVID-19: Aussie

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Australian mortgage broker, Aussie, has launched a major expansion plan to recruit 200 new brokers in 2020 and increase retail stores to 300 nationally by 2023, as its business model proves to be resilient during the COVID-19 crisis.
“Our brokers are self-employed, however they are far from operating alone. We have always provided industry leading training, support, and mentoring to help them get their businesses up and running. We believe providing our newest brokers remuneration during this period will help give them the kick start they need to become successful and long-term brokers with Aussie,” said Aussie CEO James Symond.
On the successful completion of the training program, recruits will be qualified for a Certificate IV in Mortgage Broking and could be on their way to a full Diploma in Mortgage Broking over a 12-month period.
“We’re delighted to be providing people the opportunity to gain new skills and qualifications, particularly during this time,” added Mr Symond.
The recruitment campaign is part of Aussie’s larger investment campaign into technology, marketing, and broker support.
“We are increasingly receiving inquiries from new and existing customers keen to take advantage of historically low interest rates and understand their options,” Mr Symond concluded.
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Mortgage broker Aussie launch major expansion plan

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First home buyers are the big winners from the latest RBA rate cut, says James Symond, chief executive of mortgage broker Aussie.
Symond said first home buyers now have an even greater opportunity to break in to the market.
"While there are thousands of low rate home loan products available for first home buyers, ranging from basic loans to more sophisticated offerings, first home buyers need to be properly informed before committing themselves to a long term financial commitment", Symond says.
<div>Symond has shared his seven top tips for first home buyers.</div>
<div> </div>
<div>1. Work out how much you can afford to spend before you start, research price ranges in the suburbs where you want to purchase and ask an expert to help you</div>
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<div> </div>
<div>2. Speak with an Aussie mortgage broker to help you decide what loan product suits your needs – especially your borrowing limit. When finding the best home loan for you, check out the ongoing payments, especially in the fine print for monthly service fees and other charges, and what they could become when rates inevitably rise</div>
<div> </div>
<div>3. If you are worried about potential rises in interest rate and repayments, you could split your loan between variable and fixed rates</div>
<div> </div>
<div>4. Remember a low start-up interest rate or honeymoon rate does not necessarily mean you will be paying less for your property in the long term</div>
<div> </div>
<div>5. Make sure you can still enjoy a great lifestyle after regular mortgage repayments.</div>
<div> </div>
<div>6. Get assistance and pre-approval for a loan, which Aussie can provide, so you know exactly what you can afford. 
</div>
<div> </div>
<div>7. Be aware you can get a loan under the Federal Government First Home Loan Deposit Scheme, allowing property purchases with a deposit of just 5 per cent. Another allocation of 10,000 loans in the scheme is expected to be made from 1 July 2020. </div>
<div> </div>
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First home buyer activity to be lifted by interest rate cuts: Aussie CEO James Symonds' top tips

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The consumer group Choice have gone straight to ASIC to complain about the use of certain terms in Aussie Home Loans promotions of their mortgage rates.
Choice claims Aussie spent $25m promoting its services between 2016 and 2018, and relied on guarantees such as finding consumers the “perfect loan”, “best deal”, and “best mortgage rate”.
Choice said the language used misrepresents how mortgage brokers work.
 
Aussie CEO James Symonds, son of Aussie founder John Symonds, told the Daily Telegraph he couldn't recall the brand using the terms "perfect" or "best" in any recent ad campaigns.
He also said it was “crazy” that consumer group Choice hadn’t brought its concerns to Aussie first.
Choice CEO Alan Kirkland said the company are concerned people who had seen the ads will have likely formed the "incorrect impression that mortgage brokers will scan the market to find them a high-quality loan."
 
 
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Choice consumer group lodge complaint to ASIC on Aussie Home Loans advertising

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The number of same sex home loans are on the rise, according to new data from mortgage broker Aussie Home Loans.
The research shows that women are more likely than men to partner up to buy a home. Female couples made up 55 percent of same-sex joint loans taken out in FY18, up from 50 percent in FY14.
There has also been a gradual increase in the number of single female loans compared with single male loans.
Inner-west suburbs of Melbourne and Sydney are the most popular for same-sex couples.
New South Wales is the most popular among male couples, with six of the top nine suburbs coming from the Harbour capital.
Redfern, Surry Hills and Erskineville are the most popular areas for male couples in New South Wales. In Melbourne Footscray, Prahran and Coburg are the most popular.
It's the opposite for female same-sex loans. The most popular areas in Melbourne, who have the six most popular suburbs to Sydney's three.
They're looking at property in Brunswick, Craigieburn and Yarraville, while Randwick, Stanmore and Marrickville are the most popular in inner Sydney.
James Symond, CEO of Aussie Home Loans, said he expects to see significant growth from same-sex loans.
“We are delighted to be providing more loans to same-sex joint applicants, whether they are couples or singles partnering up," he said.
"I expect to see significant growth from these customers for years to come thanks to the legalisation of same-sex marriage and savvy singles - and in particular women - who are looking to join forces to get a foot on the property ladder.
“No matter if you are single, a couple or buying with a friend, nothing beats a quality, face-to-face conversation when you are talking about a big commitment like a home loan.
"There’s a bit of doom and gloom out there about how difficult it can be, but we think it’s better with a broker. So don’t assume buying a property is a million miles away – it could be closer than you think.
“In fact, I’m so confident an appointment with an Aussie Broker will be time well spent, I guarantee it. If, after meeting with one of our brokers, a customer does not think it was worth their while, $100 is theirs*,” he added. 
Aussie data also reveals that all female home loans (single and joint same-sex) are settled at an average age of 41 years, compared to 38 years for all male loans. The average age for joint mixed gender loan customers is 40 years. 
Men consistently borrow more than women, with single and joint male loan sizes averaging $293,619 and $337,182 respectively, compared to $262,591 and $316,405 for single and same-sex females.
 “There is unfortunately a clear disparity between men and women in home loans, which I believe can be linked back to a persistent income gap," Symond said.
“Our data shows the average individual income for single male customers is 17 per cent higher than single females, and 12 per cent higher for joint same-sex customers.
"That’s not an insignificant amount, and could ultimately be the cause of women’s delayed entry into property.”
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Same sex home loans on the rise: Aussie Home Loans

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Households in Sydney are generally dedicating the largest proportion of their annual incomes to service a mortgage, with the typical household dedicating 49% of their annual income to mortgage repayments, according to a report released last month by AHL Investments (Aussie Home Loans).
Darwin households generally show the lowest proportions of annual income that is dedicated to mortgage repayments, with 22% of annual household income being used to pay down mortgage debt.
Mortgage serviceability rates have improved since 2008, when the average household was dedicating 51% of their annual gross income to servicing a mortgage.
Mortgage serviceability data extends back to 2001 when the typical household was dedicating a much smaller proportion of their household income to service a mortgage, the Aussie report noted.
In 2001, households were dedicating an average of 26% of their gross annual income to mortgage repayments.
<img src="https://www.urban.com.au/images/2018/7/6/Aussie%20Graph%204-2.JPG" alt="">
As housing values and interest rates moved higher, serviceability became more challenging, with the average proportion of household income required to service a mortgage reaching a peak of 51% in June 2008.
Despite dwelling values generally moving higher over the most recent five year period, mortgage serviceability has held reasonably firm thanks to mortgage rates trending lower.
Of course, as households reduce their principal loan amount, serviceability will improve.
With so much variance in the value of dwellings across the regions of Australia, mortgage serviceability measures show a broad range across the cities.
<img src="https://www.urban.com.au/images/2018/7/6/Aussie%20Graph%204-1.JPG" alt="">
 
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Sydney trumps all in mortgage servicability hurdles over the past 25 years: Aussie/Corelogic

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The average size of the Australian home loan has increased by 376% over the past 25 years.
The average loan size has broadly increased in line with dwelling prices across Australia, with the typical loan size reaching $388,100 in 2018 according to a report released last month by AHL Investments (Aussie Home Loans).
<img src="https://www.urban.com.au/images/2018/6/28/Aussie/Aussie%20Graph%203-1.JPG" alt="">
"The average size of a mortgage across Australia has increased roughly in line with dwelling values over the past quarter of a century, with the annual rate of increase tracking at 6.4% per annum compared with national house values rising at 6.8% per annum and national unit values rising at 5.9%," the report stated
The average loan size for owner occupiers across Australia, based on data to March 2018, was $388,100, having increased from just $81,500 25 years ago.
The report notes it was not surprising to see a wide range in the average loan size between the states which is reflective of the diversity in housing values.
"The largest loan sizes are originating in New South Wales where housing values tend to be the highest, while average loan sizes are the smallest in Tasmania at just $252,100."
<img src="https://www.urban.com.au/images/2018/6/28/Aussie/Aussie%20Graph%203-2.JPG" alt="">
Despite loan sizes increasing approximately in line with the housing cycles, mortgage rates have fallen dramatically over the same time frame, which has resulted in improved levels of mortgage affordability.
Some 25 years ago, the average standard variable mortgage rate was recorded at 10.0% compared with an average standard variable mortgage rate of 5.2% in April 2018.
<img src="https://www.urban.com.au/images/2018/6/28/Aussie/Aussie%20Graph%203-3.JPG" alt="">
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How the typical Aussie mortgage has risen over past 25 years: Aussie/CoreLogic

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Fraud at Aussie Home Loans will be examined by the banking royal commission’s first public hearing later this month.
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The financial services royal commission is targeting lenders over alleged cases of home loan fraud, along with unsuitable credit card limit increases and their car financing practices.
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The big four banks will all feature prominently in the inquiry's first round of public hearings focusing on inappropriate or unsuitable lending in home loans.
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The commission's target will be "fraudulent brokers and broker arrangements" at Aussie Home Loans.
It will look at the Commonwealth Bank's "accreditation of brokers and broker arrangements".
It will look at NAB's "Introducer Program and fraudulent loan applications".
The Introducer Program was rewarding "introducers" who successfully referred people to the bank for a loan, despite many of the applications being submitted with false information including doctored payslips. 
The bank issued 2300 home loans, which mainly went to foreign buyers of Australian property sold via "introducers."
Twenty bankers were caught breaching lending policies.
The hearings will be held in Melbourne from March 13 until March 23.
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NAB and Aussie Home Loans fraud to be examined by banking royal commision

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"Aussie" John Symond's ownership of his mortgage broking empire has come to an end. 
The Commonwealth Bank of Australia has finalised the purchase of Symond's remaining 20 per cent stake in Aussie.
The Australian Financial Review says the price eclipsed initial expectations. 
The payment, which was made via 2.1 million CBA shares at $78.54 apiece, came in at almost $164 million.
It was well ahead of initial expectations of as much as $90 million.
Symond is said to have been given the option to take stock or cash this time round, but opted for the former as he did in previous sell downs. 
Sources said he had confidence in the domestic banking system and CBA's prospects, despite the bank's AUSTRAC and regulatory woes. 
Street Talk said the last time CBA moved on Aussie was in 2012 when it increased its holding from 33 per cent to 80 per cent.
That deal was said to value the broker at $420 million, whereas the latest sell down delivers Aussie an $820 million valuation.
CBA's latest results showed home loans originated through its proprietary channels, such as branches, accounted for 57 per cent of new mortgages as at June 30. Loans through brokers sat at 43 per cent.  
It reflected a move away from broker originated loans when the split between the two channels was 50 per cent each just a year ago.
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