A prominent eastern gateway site to Bondi Junction could soon host a new eight-storey apartment project combining market and affordable housing, under new plans lodged with Waverley Council.

The proposal covers a 1,631 sqm amalgamated site across five properties at 2–6 Bondi Road and 75–77 Old South Head Road, including the corner of Ben Eden Street.&nbsp;

According to the Design Verification Statement by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development will deliver a total of 56 apartments, incorporating 10 affordable dwellings. The project takes advantage of the NSW Government’s Housing SEPP, which provides a 30 per cent uplift in height and floor space ratio in exchange for the inclusion of affordable housing.

<img alt="Bondi Road, Bondi" data-entity-type="file" data-entity-uuid="64226782-681d-430f-a08b-31d007ba40e0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bondi%20Road%20Bondi%20site.png?VersionId=gCt8XpeE4jXEoao0FnG.Ij9mUr73CB68" />

The mix of apartments spans one-, two-, and three-bedroom configurations, with a layout designed to optimise amenity and environmental performance.&nbsp;88.5 per cent of units achieve natural cross ventilation, Tony Owen Partners notes in the statement, attributing the result to the site’s configuration and a high proportion of corner apartments.

The design also responds to the site’s transitional context, on the periphery of the high-rise Bondi Junction commercial core and adjoining the lower-scale Bellevue Hill precinct.&nbsp;

“The siting, scale, bulk, and massing of the proposed development is consistent with that anticipated for the area,” the statement reads, with the building’s height capped at 28.6 metres in line with the LEP controls including bonuses.

<img alt="Bondi Road building" data-entity-type="file" data-entity-uuid="083fb63f-8a64-4c21-9c09-83e379f1cedd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bondi%20bldg.png?VersionId=aQMby6eh5kCepC_rlXkobUpV0M6IsYns" />

Located near the intersection of Bondi Road, Oxford Street, and Old South Head Road, the site occupies a pivotal position at the entry to Bondi Junction from the east. The site is currently occupied by four detached two-storey dwellings.

Bondi Junction seldom sees new apartment development. Stargate is currently developing <a href="https://www.apartments.com.au/new-apartments/the-centennial-collection-east-sydney-2-nelson-street-bondi-junction-nsw-2022">The Centennial Collection</a>, on the edge of Woollahra and Centennial Park, and are soon to launch <a href="https://www.apartments.com.au/new-apartments/signature-by-stargate-362-384-oxford-street-bondi-junction-nsw-2022">Signature by Stargate</a>, just down Oxford Street.

Urban Editorial

First look: Eight-storey apartment block pitched for key Bondi Junction gateway site

Boutique developer SIERA has recently completed PIPIS, a rare, absolute beachfront address that embodies the best of the southern Gold Coast.

PIPIS was delivered in under three years, an achievement that reflects SIERA’s considered yet efficient approach. After securing the prime Golden Four Drive site in late 2022, the team refined the approved design and delivered a boutique collection of 19 residences, including two double-storey penthouses, homes that demonstrate how precision, craftsmanship and a disciplined approach to design can make the most of a rare beachfront location.

[smartcode_project:default project_id=138311 project_image_fid=353604]

With construction now complete and residents settled in, the final sub-penthouse offers a rare opportunity to join an address that captures the calm and quality of true beachfront living on the southern Gold Coast.

Beyond its location, PIPIS distinguishes itself through the depth of its amenity and the way those spaces are considered. Every element, from the magnesium lap pool and tropical landscaping to the dedicated dog wash and reformer Pilates equipment, has been planned with the residents’ day-to-day lives in mind. It’s not just what’s included, but how thoughtfully it’s executed.

[smartcode_project:default project_id=138311 project_image_fid=353605]

What truly sets PIPIS apart is the construction quality and craftsmanship, a hallmark of SIERA projects since its inception in 2014.

“Design and construction quality is the absolute first priority at SIERA,” says Managing Director Brent Thompson. “It’s the most important aspect of any project we do, before speed of delivery, before sales. If you can guarantee build quality, then the rest will fall into place.”

Thompson says the company’s reputation has been built on trust and lived experience rather than marketing promises. “What we want at SIERA is for future purchasers to speak to our past purchasers and ask them what it’s like living in a SIERA building. If we haven’t delivered on what we’ve promised previously, we won’t be successful in the future.”

[smartcode_project:default project_id=138311 project_image_fid=6572]

With a background in construction, Thompson’s hands-on approach is a key part of SIERA’s success. “If buyers are putting faith in the SIERA brand, it’s my responsibility that we deliver absolute quality and the highest level of service.”&nbsp;

But for Thompson and SIERA, liveability goes far beyond build quality. Every project begins with a clear understanding of who it’s being designed for. “Before we commit to buying a piece of land to develop, we consider who will reside there and what will matter to them,” Thompson says.

Every residence at PIPIS has been designed to open to the breeze, the natural light, and the sound of the ocean. Broad balconies extend living spaces outward, while the use of robust, tactile materials ensures each home feels grounded and easy to live in. It’s a design shaped by Queensland’s climate and a genuine understanding of how people want to live by the beach.

[smartcode_project:default project_id=138311 project_image_fid=353606]

Location was central to the vision for PIPIS. It was designed for people who know what makes the southern Gold Coast special, those who live here year-round and those who return whenever they can. “Our buyers all share the same mindset,” says Thompson. “They want to be close to Kirra, Palm Beach and Coolangatta, yet still have privacy and calm. They prefer smaller, well-crafted buildings to big towers, and they want to walk straight onto the beach. PIPIS was built around that sense of ease and familiarity.”’

With construction complete and residents now settled in, the final sub-penthouse offers a rare chance to join an address that defines absolute beachfront living on the southern Gold Coast, a building conceived with care, built with precision, and unlikely to be repeated anytime soon.

[smartcode_project_cta:default project_id=138311]

Joel Robinson

Quality assured: The sole focus driving SIERA’s Gold Coast apartment pipeline as PIPIS in Bilinga completes

When apartments are the minority in a suburb, their success often hinges on what’s available without needing a car.&nbsp;

Raya by <a href="https://www.urban.com.au/developers/core-developments">Core Developments</a> arrives at a time when apartment options in Gungahlin remain limited, and demand for well-located, walkable housing continues to grow.

Located on Ernest Cavanagh Street, <a href="https://www.urban.com.au/new-apartments/raya-gungahlin-ernest-cavanagh-street-gungahlin-act-2912">Raya</a> places residents within the most active part of Gungahlin.&nbsp;

Retail, dining, education and transport are all within close walking distance, with many of the suburb’s primary amenities located within a 150 to 300 metre radius.

“Raya has got the best to both worlds. A great looking building, that will be built impeccably. It will stand the test of time, and add enduring value for any buyer. And, this is quite simply the best residential location in <a href="https://www.urban.com.au/developments/gungahlin-act-2912">Gungahlin</a> with immediate access to every amenity Gungahlin has on offer. You could quite easily sell your car if you move here,” James Herbert of <a href="https://www.urban.com.au/project-marketer/lj-hooker-project-marketing-act-0">LJ Hooker projects</a> said.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="266b0b21-f56b-4d93-9039-e9e17a2c4b71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/e450173a099aaad8055757c92e45efb1-1600x0-c-default.png?VersionId=4X06Ja6e9pQTjOo4QKBEfKiRP1T7hR68" />

Marketplace Gungahlin - the suburb’s main shopping precinct - is less than a two-minute walk from the site. It offers access to major retailers including Woolworths, Aldi, BIG W and Kmart, along with a variety of services, medical centres, and fitness providers.

Dining options in the surrounding blocks are diverse and expanding. Longstanding local favourites like Le Bon Mélange and EQ Café are now joined by new arrivals such as Ikigai Ramen, The Usual and Sunday Canberra, reflecting Gungahlin’s emerging reputation as one of Canberra’s up-and-coming café and dining destinations.

While apartment living often calls for easy access to open space, Raya benefits from its proximity to several parks and recreational facilities. Yerrabi Pond District Park is just minutes away and offers walking trails, playgrounds, and picnic spots, as well as outdoor fitness equipment and a skate park.&nbsp;

Gungahlin Enclosed Oval and the Gungahlin Leisure Centre are also nearby, supporting a range of community and sports activities.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="6b2ebc21-8257-4144-ad11-3970a73d5125" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/RAYA_2Bed-Living_nochair_3000-2000x0-c-default_0.png?VersionId=BJUJN_k6tZL9p9Lzq13m9OzyyKPstKQY" />

Public transport is a core strength of the location. The Gungahlin Place Light Rail stop, one of the network’s terminal stations, is located less than 100 metres from the development, providing direct access to Canberra’s inner north and CBD. Several local bus routes also operate from the same area, making car-free commuting a realistic option.

The immediate area also includes a number of schools catering to all levels, from early years through to college. Franklin School is within walking distance, while Gungahlin College and Burgmann Anglican School are both around two kilometres away. Childcare centres, health services and veterinary clinics are all established in the precinct.

Medical clinics, pharmacies, allied health services and a public walk-in centre are all available within the town centre footprint.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="7b35a7c5-dbee-491a-8ec4-ee41c06505b5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Raya_INT03_Rooftop_FP_3000-1600x0-c-default_0.png?VersionId=mTcDlZi3gAUq_spekHAWlWd5kvCbTiH3" />

Raya comprises 166 one, two and three-bedroom apartments, each with a private outdoor area. Balconies start at eight sqm, with some larger configurations offering upwards of 50 sqm of external space - a feature that aligns with the nearby parklands and active public spaces.

Buyers can secure an apartment now with a five per cent deposit, ahead of the project’s 2027 completion.

[smartcode_project_cta:default project_id=149952]

Raya: Rare apartment living in Gungahlin’s town centre

Leeka Group has gone down the path of bringing a heightened level of wellness to its recently unveiled Melbourne apartment development, Comme Prahran.

It isn't in the form of a suite of amenities, given the building is more boutique in nature with just 32 apartments, but with clever inclusions designed to uplift their residents lifestyle.

<a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme</a>, directly opposition the iconic Prahran Market on Commercial Road, has been designed by renowned architecture studio <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> and&nbsp;will introduce the first-of-its-kind multi-dimensional wellness offering, where physical, mental, social, environmental, and cultural well-being are embedded throughout.

“Prahran has long been a destination for culture, community and quality of life, and Comme builds on that in a deeply intentional way,” says Leeka Director, Chek Ming Cheng.&nbsp;

“This project introduces a new kind of urban sanctuary, one that adapts to individual definitions of wellness, whether that’s through nutrition, rest, movement, design or connection. Every space has been thoughtfully shaped to support the diverse rhythms of modern life."

[smartcode_project:default project_id=108413 project_image_fid=353544]

There will be a rooftop with a&nbsp;Zen garden designed by <a href="https://www.apartments.com.au/landscape-architect/plume-studio">Plume Landscape Architects</a>, offering&nbsp;a sensory experience that activates all five senses, an edible herb wall to taste, calming botanicals to smell, reflexology paths to feel, lush plantings to see and the gentle sounds of water and birdsong to hear.

Inside each residence, wellness is deeply personal, and Comme embraces this individuality with a suite of customisation options designed to enhance both health and lifestyle. Residents can tailor their homes with circadian lighting automation, supported by research linking it to improved well-being, better rest, and even longevity.&nbsp;

[smartcode_project:default project_id=108413 project_image_fid=353546]

Other add-ons residents can opt for include real-time air monitoring and purification systems, ensuring a cleaner, healthier environment, while blackout blinds help optimise sleep quality. Additionally, the option to include integrated smart home technologies and security measures with multiple controlled access points offers ease, convenience, and peace of mind, supporting day-to-day living and contributing to overall mental well-being.

Kitchens can be fitted with healthy cooking appliances such as steam ovens and taps for instant filtered, sparkling or hot water, while ensuites can be transformed into spa-style sanctuaries complete with steam showers, heated floors, rain heads, smart toilets, and sensor night lights to support restful sleep cycles. In the penthouse residence, further options include an outdoor spa for enhanced recovery and indulgence.

“Comme isn’t just about design, it’s about how space can support your day-to-day life," Chek added.

"Whether you like a steam shower, checking your indoor air quality, simply enjoying a quiet moment in the rooftop garden, or reflecting on the artworks in the building, wellness is part of your everyday routine, not an afterthought."

[smartcode_project:default project_id=108413 project_image_fid=353543]

The residences will feature open-plan layouts compliant with Better Apartment Design Standards (BADS), with floor-to-ceiling windows that maximise ventilation, natural light and thermal comfort. Finishes such as natural stones, timber flooring and low-VOC paints are complemented by facade design that filters dappled light and aids in thermal comfort.

Cera Stribley, Co-Founder, Domenic Cerantonio, said the first thing you notice is the light.

"Natural light floods the living spaces, casting a soft glow that instantly lifts your spirits. It's as if the outside world melts away, and you're cocooned in a peaceful oasis."

The gallery-style residential lobby will feature circadian-inspired lighting and artwork, while the ground-floor will offer retail and hospitality spaces.

The building’s mixed-use design fosters connection, with ground-floor retail and hospitality creating a vibrant, welcoming destination. These spaces are thoughtfully designed to enhance the precinct and bring it to life.

&nbsp;

[smartcode_project:default project_id=108413 project_image_fid=353545]

Sustainability and environmental responsibility are integral to Comme Prahran’s DNA. All homes are gas-free and designed to a 7-star energy average, with double glazing, WELS-rated plumbing, and EV charging capabilities available. A light-coloured exterior has been chosen to minimise heat absorption, supporting thermal efficiency and reducing reliance on artificial cooling.

Honouring the cultural richness of Prahran, the project reimagines an Edwardian-era landmark, integrating its historic character into a contemporary architectural form. Art experiences will activate the residential and retail lobbies, and a dedicated artwork on the external eastern facade will enrich the building’s street presence, embedding it into the creative fabric of the neighbourhood.

&nbsp;

[smartcode_project_cta:default project_id=108413]

Comme Prahran launches opposite Prahran Market

Apartment developer Third.i has seen "overwhelming interest" in its recently unveiled new harbourside apartment project, The Rushcutters.

<a href="https://www.apartments.com.au/new-apartments/the-rushcutters-51-57-bayswater-road-rushcutters-bay-nsw-2011">The Rushcutters</a>, which is being delivered in partnership with James Packer's NPACT, will comprise just 13 luxury two- and three-bedroom apartments.&nbsp;

Demand is predominantly coming from local downsizers.

[smartcode_project:default project_id=144646 project_image_fid=351903]

“We’ve been absolutely blown away by the level of interest in The Rushcutters,” said Luke Berry, Director and Co-founder Third.i Group.

“It’s clear that buyers are seeking more than just a place to live, they’re looking for a lifestyle upgrade. The ability to amalgamate apartments into expansive, whole-floor homes is a game-changer for downsizers who want space without the maintenance of a traditional house.”

The Rubinstein Group is marketing the project alongside Hume Residential and JLL.

“It’s no surprise that if you’re downsizing from a five-bedroom house in Bellevue Hill, for example, you want to maintain that sense of space and luxury when looking for your next home, "&nbsp;Gavin Rubinstein, Founder of The Rubinstein Group, said.

“The Rushcutters is a great fit. Amalgamating apartments to create a bespoke, whole-floor home is a natural progression for buyers who aren’t willing to compromise on size and/or quality.”

[smartcode_project:default project_id=144646 project_image_fid=351901]

Amalgamating apartments has become a common theme among high-end buyers across Third.i's portfolio including Muse in Potts Point, and Elevate Hume Place in Crows Nest, which set a Lower North Shore apartment record with the $15.1 million sale of an amalgamation of a penthouse and sub-penthouse.

“We’re witnessing a clear shift towards more amalgamations in a number of our projects across Sydney,” said Jason Fraser, Principal at Woods Bagot.

[smartcode_project:default project_id=144646 project_image_fid=351899]

“The ability to combine apartments is enabling buyers to create truly unique, house-sized residences with high-end finishes, and proximity to vibrant urban precincts. The desire to amalgamate apartments to bespoke, house-sized residences is becoming a defining feature of Sydney’s evolving luxury apartment market."

Due to the City of Sydney’s no net dwelling loss policy, Thirdi is only able to offer one level for amalgamation at The Rushcutters, combining two apartments into a single, expansive residence.

[smartcode_project_cta:default project_id=144646]

The Rushcutters a "great fit" for downsizers

Deposit

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Some 800 anxious off-the-plan buyers of apartment in incomplete Ralan Group projects didn’t get heartening news when they attended the creditors meeting in Sydney.
The over whelming majority of buyers had allowed their deposits - that ranged from the standard 10 per cent up to 20 percent - to be released to the developer in return for 15 percent interest rates on the funds during the construction phase.
They have a small hope of getting their deposit back although not any time soon amid the <a href="/news/william-odwyers-ralan-hits-voluntary-administration">$500 million company collapse</a>.
The first creditors’ meeting was not attended by William O’Dwyer, the founder of Ralan who had promoted its projects heavily among the Chinese-speaking community.
It emerged a Sydney law firm has taken up the fight on behalf of the apartment buyers. 
Matthew Bransgrove, who heads up Bransgroves Lawyers, a firm specialising in mortgage lending litigation, was now representing Ralan investors who had released their deposits to the developer as unsecured loans.
"We are currently investigating whether it will be possible to recover the funds through legal action against either the secured creditors or the solicitors who acted for the investors," he indicated.
Bransgrove said the 15 percent interest rate being offered suggested "Ralan was operating a Ponzi scheme (in as much as the money raised from investors was being used to pay interest to other investors)."
"In the absence of a prospectus there was no way for the investors to ascertain or judge the risk involved.
"Ralan required but did not hold a AFSL licence to issue debentures.
"In borrowing the deposits from the investors Ralan was issuing debentures."
There are 1200 apartment buyers in Ralan’s Sydney and Gold Coast apartment towers among the 1800 creditors of the collapsed property developer, according to voluntary administrator Grant Thornton.
The failed developer which entered administration in late July owes at least $500 million to its creditors.
Details of the creditors’ identities shows Queensland’s Hutchinson Builders is owed $5.5m.
Grant Thornton said there were five apartment towers affected by the Ralan collapse.
They are The Orchid at Arncliffe, a long-dormant site near Sydney Airport, along with Ruby Tower 2, Ruby Tower 3, Ruby Tower 4 and Sapphire on the Gold Coast.
Grant Thornton said The Orchid, which fronts 213 Princes Highway, Arncliffe, was the only apartment tower under construction and it was in discussions with the relevant stakeholders.
Lawyer James Feng was at the meeting to represent clients who had bought into the Orchid, the incomplete 318-five tower apartment project, in 2014.
He hoped the buyers would be able to keep their purchase alive as there had been considerable price appreciation.
They had hoped it would be settled by early next year.
Said Jahani at Grant Thornton Australia said the administrators would explore whether future buyer or developers would honour the purchaser’s sale contracts but this remained uncertain.
“Purchasers may receive their deposit back if their funds are still held in a separate trust account,” he said.
One Ralan buyer Shirley Han at Roseville had known of Ralan for more than decade. She resides in a Ralan project at Roseville and has another investment at Warawee.
"They sold like hot cakes," she said.
"I don't think it is a con," she said.
"I am suffering but so too are all the workers at Ralan," she added.
Some of those who attended the meeting were the sales team who had worked for Ralan on commission-only sales contracts for years, and had also invested themselves in the off-the-plan apartments taking their apartments in lieu of regular income.
The NSW state government has indicated it was moving to ensure that off the plan apartment deposits won’t be able to be accessed prematurely by property developers.
New legislation would safeguard deposits within the trust funds of solicitors/conveyancers, estate agents or the public trustee.
The legislation passed parliament last November, but the regulations have been ­delayed and not expected until later this year at the earliest.
This article was first published in the Daily Telegraph.
 
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j.ballantyne1990-6AQqhLzZaK

Ralan OTP buyers offered 15 percent returns in alleged Ponzi style scheme

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Nearly 30 percent of first home buyers had to save for more than five years on order to save a deposit according to Mortgage Choice’s First Home Buyer survey.
Chief executive of Mortgage Choice John Flavell said it came as no surprise to find that 1 in every 3 first home buyers had to save for more than five years before buying their first home when house price growth continues to outpace the growth in incomes.
“Interestingly, while those first home buyers who bought a home within that last two years said it took them more than half a decade to save their property deposit, those who are planning to buy their first home soon believe it will only take them ‘one to two years’ to save their deposit,” he said.
“When it comes to buying property, first home buyers may feel as though two years is a long time to save, but in reality, saving for a property can take quite a while.
"Even if you’re a dedicated saver who diligently puts away a portion of your income into your savings, it’s still very time-consuming to save the amount you need for a deposit.
“And, with house prices consistently rising, the deposit size needed continues to grow.
“Day to day expenses such as groceries, rent, and transport costs, can also impact on a first home buyer’s ability to save.”
Mortgage Choice has five tips to help first home buyers reach their savings goal faster.
1. Have a realistic savings plan
Take control of your finances by drawing up a practical savings plan for the month. Factor in regular expenses such as going out, transport and rent, as well as any bills and debts. Consider what luxuries could be reduced as these will help make a difference to your savings capacity. At the end of the month, have a look at your plan and, if necessary, reassess your spending.    
2.Consider switching lenders
If you have kept your finances with the same lender since your first job, it might be a good idea to have a look around and consider switching to another bank. Today, some lenders are actually offering financial incentives if you switch, which could help you to boost your savings faster.
3.Sell your unused items
You could make some quick money by selling belongings you no longer use or need. Online outlets such as eBay and Gumtree are great places to put your items up for sale and watch the cash come in.
4.Pay off debts
Credit cards and personal loans can easily get out of hand if they are not managed properly. Paying off debts will not only maximise the amount you may be able to borrow when it comes to applying for a mortgage, but it will also help you free up some of your cash flow and allow you to save more money faster.
5.Save 10 percent of your income
Saving a designated amount of your income takes discipline, but it is financially rewarding. It is advisable to set up a savings account where you put in 10 percent of your pay as soon as it comes through. To reduce the temptation to spend it, you may want to open a savings account with a different lender and not get a debit card connected to the account.
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jonathanchancellor-7SQnKwU6yx

30 percent of first home buyers took more than five years to save a deposit

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Research from ME shows one in ten Australians are saving to buy a home.
That’s a lot of people working towards the same goal. And it can be done, says Nic Emery, head of deposits and transactional banking at ME. But if you’re struggling to grow a first home deposit, it could be time for a fresh approach. Weaving healthy money habits into your daily routine could be the key to growing a first home deposit sooner.
You see, while old habits die hard, new habits can be formed just as easily. The trick is to anchor new habits to existing habits. 
Use old habits to develop new habits
Research by psychologists confirms that using a non-financial cue like making your regular morning coffee to check the balance of your everyday account, can see the two actions start to go hand in hand. In fact, some people can develop new habits this way in as little as 18 days. It can mean your first home deposit starts to forge ahead in less than three weeks.
Let’s take a closer look at how your current habits can be used to launch some clever new financial habits to get into your first home sooner.
Take the bus to work. Check your budget
Whether you travel by train, tram or bus to work, use your daily commute as a cue to review your budget. 
ME research shows only one in two Gen Y Australians (aged 18-34) – those most likely to be saving for a first home – follow a budget. Yet it is a critical first step that lets you juggle household expenses, pay regular bills on time and still have money for savings.
Grab some lunch. Transfer money into your savings account
Give your savings a boost while refueling your energy levels. Making regular deposits, no matter how small, goes a long way to growing first home savings. 
Be sure to use a dedicated savings account. Over one in ten (14 percent) Gen Ys accumulate savings in an everyday account, and that may mean missing out on valuable interest income.
Head home. Review the days spending  
Only two out of five people keep a written record of their expenses. But this simple step will help you develop a more accurate picture of your spending patterns and highlight areas where you can cutback to free up cash for extra saving.
Tune into your favourite TV show. Check your savings.  
Unwind, relax and use the opportunity to monitor your savings and also your savings account to be sure your money is earning a competitive rate. 
Plenty of savings accounts offer an enticing introductory rate. The trouble is, after just a few months your money could be earning a very low return making it harder to save a first home deposit. 
Skip the hassle of shifting money around from one account to another by choosing a bank that offers a consistently good rate on savings.   
Four daily habits. Four steps to grow your first home deposit. Start today, and with plenty of repetition you can reach your goal sooner. 
 
For more information <a href="https://www.mebank.com.au" target="_blank">click here</a>.
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po-LsXgBTHBmX

Property 101: Four daily habits to help save for a home

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<img src="/images/2015/11/NEW_RAMS_LOGO.jpg" alt="">
Saving for a deposit can be tough but there are ways you could fast-track your entry into the market.
Most lenders will only extend finance up to 95% of the property’s value, so you’ll usually need a deposit of at least 5%. If you want to avoid paying lender’s mortgage insurance, you may need to save at least 20% of the property’s value.
You may also have to budget for extra expenses such as stamp duty, transaction costs, conveyancing fees and removalist costs. 
A disciplined approach to saving, can help you get there but you may be able to get into the market sooner.
ASK YOUR PARENTS OR SIBLINGS - If your parents are willing to help, you could ask them to stand as guarantors for the loan. This often allows you to get a mortgage with a smaller deposit, or no deposit at all. The guarantee can be limited to a certain amount and could be removed after you’ve built sufficient equity in your home. As guarantors, your parents are using their assets to back you so make sure you all fully understand the potential consequences.
BUY WITH A FRIEND OR RELATIVE - This could cut down on the amount you need to save as you’ll both be contributing to the purchase. You’ll each own part of the property and share in the mortgage repayments. Be sure to seek legal advice to avoid potential disputes down the track.
BUILD A DUPLEX – Take buying with someone else to the next level and build together. By building a duplex and then subdividing the land, you each could end up with your own home at potentially a lower cost. There are lots of factors to consider if you’re thinking of taking this approach. Check council zoning and budget building costs carefully. There will be costs including the subdivision, survey expenses, legal and application fees, but you may be eligible for a stamp duty concession.
BUY OFF THE PLAN – Governments are waiving stamp duty on newly built homes to encourage development. Buying off the plan also allows you to buy now and pay later. You’ll have to put down a deposit on the property when you sign to buy but settlement doesn’t occur until after your home is completed, giving you longer to save.
Quick tip: What works for you will depend on your own personal circumstances. Consider seeking financial and legal advice.
 
TO FIND OUT HOW RAMS CAN HELP EASE YOU THROUGH THE PROCESS, GET IN TOUCH WITH YOUR LOCAL RAMS HOME LOAN EXPERT OR DROP IN FOR YOUR <a href="https://ad.doubleclick.net/ddm/clk/297184793;124284611;o" target="_blank">FREE FIRST HOME BUYERS’ GUIDE</a>.
For more great property advice and tips on buying your first home from RAMS subscribe to <a href="https://ad.doubleclick.net/ddm/clk/297184564;124284612;l" target="_blank">The Great Australian Dream property series</a>.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
Disclaimer: Information in this material is general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
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Buying a first home sooner

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First homebuyers need to save consistently for a decade to muster the average $113,000 property deposit, according to the latest calculations by the comparison site, Mozo.com.au.
“First homebuyers are having to face the huge hurdle of bridging the ‘deposit gap’ to buy a property, which could take anywhere between six and 14 years, depending on the city,” said Mozo director, Kirsty Lamont.
Mozo crunched the numbers on the average property price in each capital city to work out just how much and how long was needed to save to build up a 20% deposit.
“Anyone renting in Sydney could buy six years and five months earlier by shacking up with the parents,” said Kirsty Lamont. 
Mozo’s four tips to speed up the savings process:
• Start now, it’s never too early to start saving for your first home. 
• Cut back on high everyday costs like transport or rent, consider moving back home or curb your entertainment and eating out costs.
• Look for a better rate of return on your savings balance. Shop around and take advantage of bonus or intro offers.
• Consider buying a property with a family member if your circumstances allow.
<a href="/images/2015/07/21/mozo_deposit_chart.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/mozo_deposit_chart.jpg" alt="">
Deposit amounts are calculated based on the average capital city dwelling price, using CoreLogic RPData Home Value Index, June 2015.
Savings amount is calculated at 15% of the average monthly salary in each state based on ABS Average Weekly Earnings Australia, November 2014. The tax was deducted using the various tax rates outlined by the ATO.
Average Sydney rent of $530 a week based on Domain Group Rental Market Report, June 2015.
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