Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Commonwealth Bank

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Commonwealth Bank's loan book has grown over the March quarter in line with their forecasts, but their arrears have grown too, in the continued fallout of the mining boom end.
There are 0.71 percent of mortgage holders who are over 90 days behind on their repayments, according to Commonwealth Bank's latest quarterly results. 
<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/2019/5/13/Arrears.jpg" alt="">
"Consumer arrears were impacted by seasonal factors in the quarter and continued to trend higher from a low base, influenced by subdued levels of income growth and cost of living challenges, most pronounced in outer metropolitan areas of Perth, Melbourne and Sydney," Commonwealth Bank advised.
The end of the mining boom still seems to be felt by the nation's biggest lender. 
Accounts in negative equity represent just over three percent of total accounts, with around 75 percent of that figure relating to Western Australia and Queensland.
Despite the rise in arrears, Commonwealth Bank's loan book continues to grow, a further 2.5% over the March quarter against the December quarter.
<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/2019/5/13/Volums1.jpg" alt="">
It was slower growth however from the December quarter where there were 4% more home loans taken.
CBA saw their profits plunge over the March quarter 2019, with customer compensation costing them around $714 million.
Profits drop by 28 percent $1.7 billion over the quarter.
Compensation payments and the administrative costs have now hit $2.17 billion.
Chief executive Matt Comyn said the bank are quickly making amends. 
“We are committed to improving outcomes for our customers, addressing past failings and compensating customers quickly," Comyn said.
"The additional $714m in pre-tax customer remediation provisions taken in the quarter demonstrates this commitment, and builds on a range of other initiatives to achieve better customer outcomes, including removing and reducing fees for our customers.
"We continue to make progress on our strategy to become a simpler, better bank.
"While headline profitability was impacted by higher remediation provisions, our sound business fundamentals ensure we remain well-placed in a challenging environment, highlighted in this quarter by volume growth in our core businesses, a strong capital position and continued balance sheet strength.”
March quarter results across the big four banks had their holes.
Most of the focus has been the shift away from interest-only loans.
ANZ have trimmed their loan book to now have just <a href="/expert-insights/finance/anzs-home-loan-portfolio-shows-big-drop-in-interest-only-borrowers">18% interest only home loans</a>, compared to NAB, who as well as CBA saw their profits drop, have an unhealthier <a href="/news/nab-housing-lending-revenue-continues-to-drop-and-shareholders-pay-the-price">26% of their loan book</a> given to interest only loans.
Late last week ANZ were the final big four bank to <a href="/news/anz-finally-cuts-fixed-home-loan-rates">cut their rates in this cycle</a>.
 
 
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jrobinson-rf4aSBido9

CBA arrears rise but home loan book continues to grow slowly 

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LandMark White has been reinstated by Commonwealth Bank to its panel for residential valuations.
Marking a significant step for the company after the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">recent cyber-attack</a>, Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders.
"Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported,” Mr Perrett said.
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The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring.
Commonwealth Bank, as well as NAB and ANZ, <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">dropped LandMark White</a> following the attack.
LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its datasecurity environment, while the company has also committed to a framework for robust risk management and continuous improvement.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. 
“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”
“We have been a trusted member of the industry for nearly 40 years and with the support ofall the major banks, we’re confident we’ll be here for another 40 years and longer.”
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j.ballantyne1990-6AQqhLzZaK

CommBank resumes LandMark White valuations

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In the first half of the 2019 financial year the Commonwealth Bank's exposure to commercial property has remained flat, according to their mid year report.
The report note their commercial portfolio remains, diversified across sectors and by counterparty.
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%203.JPG" alt="">
CBA have lower apartment development exposures.
Their top 20 counterparties are primarily investment grade (weighted average rating of BBB equivalent) and account for 16.4% of their Commercial property exposure.
34% of the portfolio investment grade, and the majority of subinvestment grade exposures are secured (91%).
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%201.JPG" alt="">
Impaired exposures remain low, 0.12% of the portfolio.
Geographical weighting has remained steady during the half.
They have been continuing ongoing comprehensive market and exposure monitoring of the portfolio.
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%202.JPG" alt="">
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Commonwealth Bank exposure to commercial property remains flat 

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The nation's largest bank, Commonwealth Bank of Australia's has reported a 6 per cent fall in its net profit, hit by the costs associated with fixing historic misconduct issues and tighter margins due to competition and rising costs.
The CBA produced a weaker than expected result. 
First-half profit came in at $4.6 billion, down from $4.9 billion in the corresponding period last year.
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Cash profit — the bank's preferred measure that strips out one-off gains and losses — rose 1.7 per cent to $4.68 billion, with higher sales volumes of loans offset by lower margins.
It lower than the $4.87 billion it reported for the first half last year.
CBA reported that cash profit fell 2.1 per cent.
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The interim dividend per share was flat at $2.00. 
The bank recorded an operating income of $12.4 million which was down 1.9 per cent for the same period a year earlier. 
<div class="advert" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="767" data-reactid="50">CBA attributes this to volume growth being offset by its net interest margin decline, lower fees, weaker trading income and the impact of weather events. </div>
Volume growth in the core business resulted in lending and deposits increasing by 2 per cent, while home loan volumes increased 4 per cent.
The growth was more for owner occupiers than investors.
 
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Home loan volumes up, but CommBank reports lower than expected profit

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Surfers Paradise’s Chevron Renaissance Shopping Centre has secured the Commonwealth Bank among its new tenants.
The financial institution is set to open a branch within the retail, dining and entertainment precinct in July.
Coles, National Bank of Australia, Chempro and Endota Spa are in the centre where The Precision Group has spent in excess of $5 million dollars since their purchase in 2015.
Other new tenants taking up prime positions within the precinct includes Surfers Paradise’s only Asian grocer Yifan Asian Emporium, internationally renowned Malaysian restaurant PappaRich and eyebrow threading boutique Elegant Eyebrows.
The centre also recently facilitated the installation of Auscoin's first Bitcoin ATM in Queensland.
Among the future tenants is an innovative Childcare Centre that will be the first service of its kind in the heart of Surfers Paradise.
 <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/2018/5/23/Chevron%20Renaissance%20Shopping%20Centre%201.jpg" alt="">
Set to open early 2019, Journey Early Learning Childcare Centre will have capacity for 88 children on the second level of the Centre. 
The centre has frontage to the G:Link tramline. 
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Bitcoin ATM and Commonwealth Bank join Chevron Renaissance's tenants

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The Commonwealth Bank has revealed an increase in borrowers behind in their mortgage repayments.
The number of home loan borrowers more than 90 days overdue on their loan was sat at 0.65 per cent, up from 0.59 per cent at the end of December. 
There were emerging "troublesome exposures" mentioned in its stockmarket update on Wednesday morning.
However CBA said the credit quality of the group's lending portfolios remained sound. 
The bank noted "there has been an uptick in home loan arrears, influenced by a small number of customers experiencing difficulties with rising essential costs and limited income growth".
CBA said "consumer arrears were seasonally higher in the quarter".
Customers more than 90 days due on their personal loans rose from 1.21 per cent at the end of December to 1.39 per cent at the end of March, while credit card arrears also rose slightly, from 0.88 per cent to 0.98 per cent.
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<div>
<div id="article-inline-ad">It also said a small number of loans had resulted in an increase "troublesome exposures", while impaired assets remained stable.</div>
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Overall, bad debts remain very low.
The Australian Financial review advised the loan impairment expense of $261 million in the quarter was 14 basis points of gross loans and acceptances, down from 16 basis points in the first half. CBA said it maintained "prudent" levels of credit provisioning with total provisions at $3.8 billion.
Westpac recently indicated at the end of 2017 its arrears rate was 1.2 per cent, down slightly from 1.3 per cent at the end of 2016. Westpac arrears were below historical peaks of 1.7-to-1.9 per cent. In New South Wales market, Westpac mortgage arrears are the lowest nationally at just 0.8 per cent, below the state's long-term average of 1.4 per cent.
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Arrears jumps in CommBank loan book

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Commonwealth Bank of Australia has leased space in Melbourne’s Glenferrie Road shopping strip, which according to leasing agent Allard Shelton is the largest dollar value letting deal in 2017.
The agreed rent of $275,000 p.a plus GST and outgoings for <a href="https://www.realcommercial.com.au/property-offices-vic-malvern-502202670" target="_blank">142 Glenferrie Road, Malvern</a> works out for a rent of $859 per sqm.
“Demand for retail property in Melbourne is still strong and freehold buildings on high exposure corners like this are always sought after,” said Allard Shelton’s Patrick Barnes.
Commonwealth Bank is expected to occupy the new premises by October 2017 with the owner of 142 Glenferrie Road fitting out the building in line with the Commonwealth Bank’s retail design strategy. The fit out is expected to take over two months to complete and will comprise of an internal and external renovation.
The site is part of one of Melbourne's busiest shopping strips and is close to other quality tenants such as Coles, ANZ, Westpac and Dan Murphy’s, added Barnes. 
Allard Shelton, Victoria’s oldest, Australian owned commercial property agents, facilitated the rental transaction after an introduction from Fitzroys director, David Bourke.
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Commonwealth Bank leases space in Melbourne's busy Glenferrie Road shopping strip

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GUEST OBSERVER
The RBA’s updated forecasts are consistent with policy on hold over the rest of 2017.
The Bank expects growth to lift over the next few years to an above-trend pace.
And while core inflation is forecast to be close to 2% in H2 2017 (a touch under on the Bank’s chart), the RBA sees headline inflation tracking in their 2-3% target band.
Optimism around the recent strength in employment growth is tempered by a “subdued” outlook for wages growth.
As such, we think that the Bank retains a neutral bias in today’s Statement on Monetary Policy (SMP).
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.06%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.06%20am.jpg" alt="">
The Bank has downwardly revised their near term GDP forecasts due to the softer than expected QI which was negatively impacted by weather.
Looking at the Bank’s through the year forecasts implies that the pace of growth picks up to 2% by year end and 23⁄4% by Q2 2018.
Positive contributions to come from LNG production, consumption, infrastructure spend and a lift in non-mining investment.
The RBA notes that the stronger AUD has had a “modest dampening” effect on the growth forecasts.
In summary, the Australian economy would be deemed to be in good shape if the RBA’s growth outcomes can be achieved.
The forecasts look reasonable to us but the risks are to the downside.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.16%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.16%20am.jpg" alt="">
Core inflation forecasts haven’t budged, but the expected trajectory for headline inflation has inched higher due to the lift in utilities prices.
There is nothing in the inflation forecasts to suggest that policy will be tightened over the next year.
We think that at the very least the RBA would need to upgrade its core inflation forecast to even entertain the idea of a rate rise.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.24%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.24%20am.jpg" alt="">
We note the change in language from the RBA on the labour market that signals the Bank is clearly happy with developments.
The RBA states that leading indicators of the labour market point to, “solid employment growth” over H2 2017.
Here the emphasis is on solid and suggests that the RBA considers the recent strength in the labour market as genuine and that it will continue over the year.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.33%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.53.33%20am.jpg" alt="">
As a result, some mild downward pressure is expected to be applied to the unemployment rate.
On wages, the RBA devoted “Box C” to a discussion on the 2017/18 minimum wage decision.
The upshot is that it should contribute 0.2ppts to growth relative to its contribution in 2016/17.
We have a similar view to the RBA on the outlook for wages growth.
Namely that it has reached a bottom and should pick up gradually from here.
That said, the process will be slow because there is still plenty of slack in the labour market.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.52.51%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Screen%20Shot%202017-08-07%20at%209.52.51%20am.jpg" alt="">
As a result, we think that the RBA’s outlook for wages growth is more plausible than the optimistic wages forecasts underpinning the 2017/18 Federal Budget.
In summary, it looks like more of the same from a monetary policy perspective over 2017.
Rates will stay on hold until wages growth and core inflation are on a sustained upward trend.
That is some way off and in our view that means that policy is likely to be on hold until late 2018.
Gareth Aird is a senior economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905">here</a>.
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RBA on hold over rest of 2017: Gareth Aird

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Just under half of Aussies polled for a recent survey (48 percent) believe the property dream is still alive and well according to the CommBank Connected Future Report.
The report, based on the response of more than one million people, asked Australians about how they perceive their future, the property market, adapting to a changing workforce, and life for younger generations.
Just over half of the respondents (52 percent) said the Australian dream is being redefined.
Demographer and futurist Claire Madden authored the CommBank Connected Future Report.
She said a remarkable insight from the CommBank ATM data overall is the resilience and tenacity Aussies have in the face of economic uncertainty.
“As a lead example, while the Australian property dream looks markedly different in 2017, the majority of Australians either fully own or are paying off their home," she said.
“This has remained constant over the past five decades, so despite uncertainty, the Australian dream has clearly lived through time.
"The research shows while Millennials (Gen Y) are delaying traditional life markers like getting married or having a child, the average age of a first homebuyer has remained relatively constant over the last two decades, sitting at around 32 years of age.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%2011.09.10%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%2011.09.10%20AM.png" alt="">
 
"The Australian ‘dream home’ is no longer a weatherboard standalone house. It is an architecturally designed product, as the quality of dwellings has risen over time.
"Whilst 74 per cent of those living in cities and 81 per cent of those outside capital cities currently live in a stand alone house, 48 per cent of new residential approvals over the past year have been for medium or high density housing.
"CommBank data reveals 68 percent of first home buyers purchased a house in the last year, 16 percent desire to build their architectural dream home after purchasing vacant land, and 15 percent purchased an apartment or townhouse.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.22.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.22.26%20PM.png" alt="">
"The data relating to the Australian property dream reveals that the state you live in impacts your state of optimism.
"The least optimistic were people residing in New South Wales (53 percent) and Victoria (54 percent), and this was significantly high with younger generations (57 percent in both states).
"Those in Queensland (51 percent), South Australia (53 percent), Western Australia (54 percent) and the Northern Territory (57 percent) believe the dream is more attainable.
"Gen Y have prioritised global travel, lifestyle experiences, stayed longer in formal education and attained the name KIPPERS (Kids in Parents’ Pockets Eroding Retirement Savings) for staying in the family home longer.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.24.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.24.11%20PM.png" alt="">
"Yet now they are in their prime career building and family forming years, they, like their predecessors, are finding a way to overcome the obstacles, respond to new realities, and see the (re)defined dream come alive.
"Even though the dream has taken a different form, the data reveals property ownership remains high on the aspirational list (average home buying age remains consistent at 32).
"With almost 3 in 10 Australians (29 percent) born overseas, and a quarter (27 percent) of the population’s labour force born overseas, immigration has significantly contributed to Australia’s workforce and economy.
"In the midst of this diversity, CommBank data reveals that almost half of Aussies (49 percent) believe that our society truly embraces everyone."
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Survey reveals under half of people believe that the property dream is still alive

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Interest rates hikes have struck home owners and investors after the Commonwealth Bank (CBA) lifted fixed rate deals on its loans by as much as 0.5 per cent. Customers taking out fixed rate deals with rate will now be hit with increases across 1, 2, 3, 4 and 5 year fixed terms. It is the second rate hike within 20 days.
However, the bank provided for owner occupiers signing up to principal and interest fixed home loan deals to escape the latest hikes.
The Commonwealth Bank said the move was to ensure it "continue[d] to meet our regulatory requirements".
In a memo issued to mortgages brokers, CBA outlined that interest-only investment loans would be the worst hit — 2, 3, 4, and 5 year terms would all rise by 0.5 per cent.
The changes are effective for new and existing customers who switch into one of these products from today.  
Three-year fixed rate interest-only owner occupier loan rates will rise by 0.25 per cent to 4.49 per cent.
Three-year fixed rate interest-only investment loan rates will rise by 0.5 per cent to 4.94 per cent.
Three-year principal and interest investment loan rates will rise by 0.25 per cent 4.69 per cent.
CBA raised rates for interest-only loans to 5.94 percent in March.
Homebuyers also faced increased fixed interest rates in December 2016.
The bank’s measures follow an increased crackdown by the banking regulator, the Australian Prudential and Regulation Authority, to limit interest-only loans.
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