The sought-after Latent Defects Insurance policy, offering off the plan apartment buyers peace of mind for 10 years post-completion, has made its way to Sydney’s harbourside. Boutique developer <a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a> has secured this insurance for its newly launched Elizabeth Bay development, <a href="https://www.apartments.com.au/new-apartments/barncleuth-square-elizabeth-bay-4-4a-barncleuth-square-elizabeth-bay-nsw-2011">Barncleuth</a>. This marks the developer’s second project in the area, following the success of No. 1 Onslow Place.

Latent Defects Insurance, offered by <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Insurance</a>, provides cover for structural or waterproofing defects in new apartment buildings. It is a policy that only the developer or builder can take out, not the apartment purchaser.

Located just&nbsp;off Macleay Street, one of Sydney’s most desirable high streets, Barncleuth offers a rare collection of only 10 residences. With just two per floor, each oversized floorplan has been designed by SJB specifically for the owner-occupier.

[smartcode_project:default project_id=140184 project_image_fid=356342]

The five-storey building captures views over Rushcutters Bay and Paddington, blending contemporary brickwork with the expressive silhouettes of its Art Deco neighbours.

Inside, the residences, designed by David Hicks, prioritise generous scale and enduring quality, with a mix of two- and three-bedroom layouts. Expansive terraces and cross-ventilated interiors maximise light and airflow, while sustainable features such as a green roof and locally sourced materials reflect SJB’s commitment to long-term liveability.

[smartcode_project:default project_id=140184 project_image_fid=356341]

Developer Toohey Miller, led by Nick Couloumbis, says the design aims to bring lasting quality to an area long celebrated for its apartment heritage.

"It's a stone's throw from the best restaurants in Sydney. Some people call it the Soho of Sydney," Couloumbis told Apartments.com.au when the project was approved.

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By securing <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Latent Defects Insurance</a>, Barncleuth joins a growing group of premium Sydney projects adopting the gold standard in building protection.&nbsp;

The cover, provided before construction begins, ensures any hidden structural or waterproofing defects are repaired immediately, without lengthy litigation or fault disputes.

Resilience Insurance CEO Corey Nugent said the product has been a catalyst for renewed confidence in the off the plan market.&nbsp;

“Ultimately what we’re trying to do is build better buildings consumers can trust. When buyers take possession, they have full insurance protection from day one, for 10 years,” Nugent explained.

Unlike traditional policies such as strata or construction insurance, Resilience LDI is a first-resort, strict liability policy, meaning repairs are covered immediately without needing to prove negligence. Coverage extends to foundations, load-bearing walls, and waterproofing, the elements most critical to long-term structural integrity.

Regarded construction firm Jasara has been appointed to deliver Barncleuth. They are forecasting an early 2027 completion.

[smartcode_project_cta:default project_id=140184]

Joel Robinson

Toohey Miller brings 10-year Latent Defects Insurance to Elizabeth Bay as Barncleuth apartments launch

<a href="https://www.apartments.com.au/developers/golden-sedayu">Golden Sedayu</a> has unveiled plans for the next phase of its landmark $4 billion <a href="https://www.apartments.com.au/new-townhouses/burswood-point-saintly-entrance-burswood-wa-6100">Burswood Point</a> project, just 3.5km from the Perth CBD at the Belmont Racecourse site.

The Local Development Plan Application has been lodged for a world-class mixed-use hub (Precinct B) on the previously untouched 2.5km stretch of Swan River foreshore.

Designed by Skidmore, Owings &amp; Merrill (SOM), recognised for their work on the world’s tallest skyscraper, Burj Khalifa in Dubai and the One World Trade Centre in New York, Precinct B will feature 15 buildings, offering a mix of residential and commercial spaces including a shopping centre up to 30,000 sqm in size.

Complementing this, an internationally acclaimed five-star hotel, and a high-end pedestrian-friendly retail boulevard with vibrant day-and-night retail, dining, and entertainment venues, will provide exciting new ways for Perth residents to connect with the riverfront.

This latest milestone signals continued construction and expansion momentum across Perth’s premier riverfront community, which is set to attract local, national and international visitors.

[smartcode_project:default project_id=142314 project_image_fid=263304]

The masterplan features 110,000 sqm of public open space, which is comparable to other Perth landmarks including inner-city Langley Park and South Perth foreshore. The riverside precinct will be brought to life through a visionary landscape concept by globally renowned architectural practice Grant Associates.

With an impressive international portfolio, including Gardens by the Bay and Funan Mall in Singapore and Barangaroo South in Sydney, the firm brings expertise in creating environments that harmonise with surrounding amenity.

At 38 hectares, Burswood Point is one of the largest urban development projects ever undertaken in Australia, and one of Perth’s most transformative mixed-use developments.

Golden Sedayu Managing Director Andrew Sugiaputra said the company was working closely with SOM, Grant Associates and the Government of Western Australia to ensure Burswood Point’s design responds sensitively to its surroundings, reflecting and enhancing the character, history, and natural features of the local environment.

[smartcode_project:default project_id=142314 project_image_fid=1817]

“West Australians enjoy a privileged outdoor lifestyle and the Swan River is central to their enjoyment,"&nbsp;Sugiaputra said.

"We’re proud to be creating something truly spectacular and unique for the city, a place that feels alive from sunrise to sunset, a place where people can stay, shop, dine, and celebrate life on the river."

Precinct B builds on the outstanding success of Burswood Point’s first residential stage, which has been met with exceptional market demand. Somerset Residences, a two- tower luxury apartment development, and the exclusive riverfront homes collection are under construction and selling fast. As the number of Perth houses listed for sale remain at or near record lows, Burswood Point will deliver 4,500 new homes over the next 10 years.

“Golden Sedayu is dedicated to delivering on our promises,"&nbsp;Sugiaputra added.

"Our clients can buy with confidence, knowing that the price is fixed throughout construction. In an industry that has faced challenging market conditions, we’re proud to provide our clients complete peace of mind and confidence in the value of their investment."

&nbsp;

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Golden Sedayu reveals next 15 buildings in Perth's $4 billion Burswood Point precinct

Rising at the base of The Remarkables,&nbsp;diversified New Zealand developer&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>'s Mountain Oak Apartments presents a foothold in Frankton, one of Queenstown’s most dynamic and fast-growing locales.&nbsp;

Surrounded by soaring alpine scenery and year-round tourism drawcards, Mountain Oak Apartments is a masterplanned precinct that perfectly balances accessibility with lifestyle amenity.

<img alt="Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district" 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://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Frankton has emerged as a strategic growth zone just seven kilometres from Queenstown’s CBD, popular among both residents and investors for its proximity to the airport, the region’s two premier ski fields, Coronet Peak and Cardrona Alpine Resort, and an expanding network of shops, services, and recreation options. The apartments enjoy immediate access to the popular Market Street dining hub, as well as Five Mile Shopping Centre and the seasonal Remarkables Market, where locals gather for fresh produce and artisan goods.

The location also places residents near the gateway to South Island adventures. Scenic trails, golf courses, and Lake Wakatipu’s edge are within easy reach, while the historic village of Arrowtown, renowned for its preserved gold rush-era charm and walking routes, is a short drive away. Local transport connectivity is supported by the nearby airport and arterial roads, ideal for frequent travellers and short-term guests alike.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" 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/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Tourism-driven demand underpins strong investment fundamentals in Queenstown, with a noted shortage of short- and long-term accommodation stock. Mountain Oak’s 365-day visitor accommodation consent directly addresses this need, offering a rare opportunity to serve Queenstown’s dual population of holidaymakers and hospitality workers.

Construction of the 141 residences began in June 2025, with completion anticipated by mid-2027. Apartments range from one-bedroom to penthouses, with pricing from NZ$639,000. Dual-key options and low-maintenance finishes support a flexible rental model with strong gross return potential.

Staff Writer

From slopes to markets: Mountain Oak connects residents to the best of Queenstown

Deicorp is doubling down in the Hills Showground Station Precinct, the rapidly growing area surrounding the Castle Hill Metro and one of the state’s largest transit-oriented urban renewal sites.

Having launched Hills Showground Village several years ago, and now about 70 per cent through its build, Deicorp has brought another mini-masterplan to market just a few streets away.

The developer has now released the first of 873 residences in <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a>, five new buildings located just 500 metres from the Metro, which connects Castle Hill residents to Martin Place in around 37 minutes.

[smartcode_project:default project_id=150067 project_image_fid=351416]

The mix includes one, two, and three-bedroom apartments, as well as a limited release of garden terrace homes with studies.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner Studio</a> and <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a>, the residences are configured around a network of landscaped courtyards and podium-level gardens, with additional rooftop terraces offering views across the district.&nbsp;Communal amenities include a 3,500 sqm public park, playgrounds, shaded seating areas and walking and cycling paths.

[smartcode_project:default project_id=150067 project_image_fid=351416]

Interiors feature flexible layouts with oversized living areas, deep balconies, SMEG kitchen appliances and floor-to-ceiling glass to maximise light and airflow.&nbsp;

Many apartments include a study space, while select residences offer private outdoor areas. A total of 44 apartments have been designated as affordable housing for key workers, such as nurses, teachers and police officers.

&nbsp;

[smartcode_project:default project_id=150067 project_image_fid=351413]

On top of its strong connectivity to the city, Deicorp has delivered significant new amenity to the area. The developer recently opened the 9,500sqm, four-level retail precinct at Hills Showground Village, which includes 26 specialty retailers and a 1,400sqm public plaza, creating a new community hub for shopping, dining, fitness, and everyday convenience. Castle Towers, one of Australia’s largest shopping centres, is also just one Metro stop away.

Between Hills Showground Village and Showground Pavilions, Deicorp is delivering more than 1,300 new homes to the rapidly growing Castle Hill precinct, representing a $2 billion investment in the suburb.

Showground Pavilions is one of several Metro-linked projects in Deicorp’s pipeline, joining developments at Tallawong Village, Zetland, Five Dock, Macquarie Park and Crows Nest.

[smartcode_project_cta:default project_id=150067]

Deicorp expands Castle Hill footprint with Showground Pavilions launch

The completion of Melrose Park Village marks a significant achievement in the evolution of one of Sydney’s largest urban renewal projects, developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>.&nbsp;

Located in the city’s north-west, <a href="https://www.apartments.com.au/new-apartments/melrose-park-village-2a-2f-appleroth-street-nsw-2114">Melrose Park Village</a> represents the fourth completed stage in the broader $5 billion Melrose Park masterplan, which will ultimately bring over 6,000 new homes, a town centre, new schools and 52,000 sqm of green open space.

The completion of Melrose Park Village delivers 421 apartments across six buildings ranging from six to thirteen storeys, all centred around a 4,000 sqm landscaped courtyard designed as a communal “urban backyard” for residents.&nbsp;

The project is now 96 per cent sold, with 14 premium three-bedroom apartments remaining in the final building. Each offers two car spaces with prices starting from $1.259 million.

Alex Grujovski, Project Director, Apartment &amp; Mixed-Use Developments, said “Sekisui House Australia is proud to celebrate the completion of Melrose Park Village, which stands as a sustainable and connected community in the heart of Sydney’s north-west.&nbsp;

“This project represents a pivotal step in our long-term vision for <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>, reflecting our commitment to creating communities that blend nature, technology and human connection. Since 2020, we have delivered over 1,075 apartments across four stages, each designed to enhance wellbeing, connectivity and convenience through exceptional architecture and resident-focused amenities.”

[smartcode_project:default project_id=150065 project_image_fid=356089]

Residents benefit from an array of lifestyle facilities including a 4,000 sqm internal park, rooftop gardens and BBQ areas, wellness amenities such as an infrared sauna, yoga studio and gymnasium, plus co-working spaces, pet wash facilities, EV charging stations and a resident shuttle bus.&nbsp;

Sustainability remains at the core of the precinct with rooftop solar, smart energy meters, air and water filtration systems and groundwater reuse technology supporting efficient resource use.

Melrose Park Village was designed by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, who have led the design of the broader Melrose Park masterplan since inception, developing architectural principles that continue to guide the precinct’s evolution.

Michael Heenan, Design Lead at AJC Architects said the design is completely generated by AJC’s Urban Backyard concept.

"At the heart of Melrose Park Village is a generous green courtyard, a shared backyard for all residents. We designed it at the scale of a local park, a place for families to live, play and grow, capturing the spirit of the Australian backyard.”

The courtyard features nature play areas, a climbing wall and open lawns for social and recreational use. Heenan added that the team’s approach to smart city design, carbon capture and sustainability guided every aspect of the project.&nbsp;

“Stage 4 reflects our belief that density can improve liveability. By integrating architecture, landscape and open space, we have created a model for sustainable urban living that feels contemporary and distinctly Australian.”

&nbsp;

[smartcode_project:default project_id=150065 project_image_fid=356088]

&nbsp;

Melrose Park Village was delivered in partnership with <a href="https://www.apartments.com.au/builders/parkview">Parkview Constructions</a>, a trusted builder with whom Sekisui House Australia has delivered thousands of apartments across Sydney over the past 15 years.&nbsp;

Upon completion, Melrose Park will deliver more than 6,000 dwellings, 52,000 sqm of open green space featuring over 1,400 mature trees, new transport connections, a town centre set to open in 2026 and Melrose Park High School which is currently under construction and due to open in Term 1 2027.&nbsp;

This milestone marks another major step towards realising Sekisui House Australia’s vision to transform a former industrial site into a future-ready neighbourhood for over 12,000 residents.

[smartcode_project_cta:default project_id=150065]

Completion of Melrose Park Village marks a major step forward in $5 billion masterplan

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>
<div>
<div class="WordSection1">
<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>
</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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