Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.

It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.

[smartcode_project:default project_id=134954 project_image_fid=4396]

Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.

It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;

The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.

[smartcode_project:default project_id=134954 project_image_fid=4402]

The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;

The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.

[smartcode_project:default project_id=134954 project_image_fid=4391]

Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.

While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;

DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.

Senso is scheduled for completion in late 2028.

[smartcode_project_cta:default project_id=134954]

Staff Writer

The outdoor amenities elevating life at Senso, Epping

Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

First look: Buildex plans 57 apartments near Castle Towers

Fixed Rates

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48 lenders have cut at least one fixed home loan rate in the past week since the RBA's emergency rate cut, according to financial comparison website RateCity.
ING, Australia's fifth largest lender, set to offer the country's lowest home loan rate at just 2.09 per cent, fixed for two years, available from March 26. 
The company announced cuts to its fixed home loan rates by up to 50 per cent for owner-occupiers with the Orange Advantage package. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-03-26%20at%2010.22.02%20am.png" alt="">
Around 80 per cent of fixed home loan rates are now below 3 per cent and more than two dozen lenders offering fixed rates under 2.5 per cent.  
Sally Tindall, research director at RateCity.com.au, said the fixed rate space was hitting boiling point.
“Lenders are putting all of their cards on the table as panicked borrowers seek out home loan security in a market that is changing daily,” she said.
“The move from ING comes after the major banks kicked off a rate war last week with Westpac, NAB and ANZ cutting rates to 2.19 per cent. The question is ‘how low can they go?’.
She noted that we are not far from seeing fixed rates below 2.0 per cent. 
Like many banks, ING has chosen not to cut variable rates following Thursday’s RBA announcement, but offered payment deferrals for up to 6 months for home loans, personal loans and credit cards.
“This will support a lot of Australians in the coming months, particularly those who have been impacted financially as a result of the coronavirus,” she said. 
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j.ballantyne1990-6AQqhLzZaK

Fixed rates plunge after RBA emergency rate cut

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Property buyers are leaning towards variable rate home loans, given the recent interest rate cuts and proposed further cuts from the RBA.
New data from Mortgage Choice shows demand for fixed rate home loans fell in July.
Only 14 per cent of all home loans written were for fixed rate loans.
Mortgage Choice chief executive officer Susan Mitchell said demand for fixed rate loans is the lowest they've seen all year. 
"Despite some very attractive fixed-rate home loan pricing, borrowers across the country are reluctant to fix.    “Last year, a low fixed rate would have been under 4% p.a., but today we are seeing rates starting with a two, which is certainly the lowest fixed rates we have seen in recent history. 
The state by state breakdown of fixed and variable mortgage. To enlarge, click here.
<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/2019/8/22/Variable%20rate%20by%20state%20Mortgage%20Choice.jpg" alt=""> Source: Mortgage Choice
“It’s not entirely surprising that borrowers are choosing to keep their options open by opting for variable rate home loans. The reality is, the opportunity to save on repayments if the Reserve Bank cuts the cash rate is too good to pass up.
The RBA suggested at its August meeting, as they have done for a number of months, that they would consider a further easing if necessary to support sustainable growth in the economy.
Reacting to a dwindling in fixed home loan mortgages are the St George, Bank of Melbourne and BankSA, who have slashed their fixed rates by up to 1.40 per cent.
St George and Bank of Melbourne are offering up to five year fixed rates as low as 2.94 per cent, for customers with a deposit of 40 per cent or more, and 2.99 per cent for customers with a deposit of 20 per cent or more.
The two are now offering the lowest four and five year fixed rates, according to RateCity.com.au data.
A total of 75 lenders have cut fixed rates since the most recent RBA cut on 2 July 2019, the biggest being a cut of 1.60 per cent.
RateCity research director Sally Tindall said the banks were gearing up for long-term low rates.
“The banks are falling over each other to claim the title of having the lowest fixed rate on the market,” she said.
“Fixed rates as low as 2.94 per cent will prompt some customers to review their own rate and potentially switch lenders.
“It’s unusual to see some of the largest banks offering some of the lowest fixed rates in the country.
“The idea of fixing your rate under three per cent until August 2024 is a foreign concept to a lot of Australian mortgage holders. While these low fixed rates may seem like sensational deals, we’re likely to see more cuts. 
“The latest ABS data shows the percentage of people opting to fix has fallen to just 14.1 per cent, which suggests customers are holding out to see how low rates go,” she said.
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jrobinson-rf4aSBido9

Lenders cutting fixed rates to sub three per cent as demand wanes

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Demand for fixed rate home loans fell in February, according to new data from Mortgage Choice.
The broker's latest national home loan approval data showed demand for fixed rate home loans fell over the month of February, accounting for 22.82% of loans - a reduction of 1.05% from the month prior.
Demand for fixed rate loans had picked up in the latter half of 2018, in what may have been a response to rate hikes on variable home loan products.
Mortgage Choice found that borrower preference varied across the country :
<ul>
<li>Borrowers in Queensland were the most likely to fix their interest rate, with over 25% opting for a fixed rate home loan; </li>
<li>This was followed by New South Wales where over 24% of borrowers chose to fix their home loans; </li>
<li>In South Australia 22% of borrowers opted for a fixed rate mortgage;</li>
<li>In Western Australia 20% of borrowers chose to fix;</li>
<li>And Victorians continue to prefer variable rate home loans with almost 17% choosing to fix their home loans.</li>
</ul>
<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/2019/3/14/susan-mitchell_ceo_mortgage-choice_b.jpg" alt="">
Mortgage Choice Chief Executive Officer Susan Mitchell (pictured above) said a number of reasons may be discouraging borrowers from locking in to a fixed rate.
“Mounting speculation that the Reserve Bank may cut the official cash rate later this year may be weighing on borrower expectations around interest rates. These borrowers, who are expecting interest rates to fall in the near term may be less inclined to lock in to a fixed rate,” said Mitchell. 
“Borrowers’ caution may be compounded by continued property price falls in the nation’s capitals which, according to the latest figures from CoreLogic fell 0.9% in the month of February. 
“In the current property market, it is unsurprising to see an increase in demand for variable rate loan products. These loans are more flexible and allow borrowers to make added loan repayments, access home loan features such as an offset account and redraw facility, and of course save on their loan repayments if their interest rate drops.
“That being said, fixed rate loans are still an attractive option to people who are looking for certainty in their home loan repayments.  This is particularly important at a time when there is considerable uncertainty in the market.
“Fixed rate loans may be a suitable option for borrowers who foresee a potential change to their income or, budget constraints.
“At present, there are many deals to be had for those looking to lock in a fixed rate, with two-year fixed rate loans on our lender panel as low as 3.69% p.a.* it’s a great time to review your home loan.
“My advice for anyone looking to have the best of both worlds is to speak to their mortgage broker about splitting their loan, which allows a borrower to allocate a proportion of the loan to a fixed interest rate, and a proportion to a variable interest rate depending on their financial situation.”
* NAB First Home Buyers Special 2 Year Choice Fixed Rate OO P&amp;I accurate at 8 March 2019
<a href="https://www.propertyobserver.com.au/images/2019/3/14/1.jpg" target="_blank">Click here</a> to enlarge:
 <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/2019/3/14/1.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/3/14/2.jpg" target="_blank">Click here </a>to enlarge:
<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/2019/3/14/2.jpg" alt="">
Source: Mortgage Choice
 
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Fixed rate demand falls in February: Mortgage Choice

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Mortgage broking firm Mortgage Choice have seen the demand for fixed rates rise in the month of September to the highest level since December 2017.
Last month they saw 24 percent of all loans written to be fixed, up six percent from August.
Queensland and New South Wales are the most likely to choose a fixed rate mortgage, both with over 26 percent of their total loans being fixed.
Victoria has seen the lowest level of fixed rate demand for eight consecutive months, however demand for this type of product rose to almost 17 percent in September – an increase of almost four percent on the month prior.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/9/mortgage-choice2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/9/mortgage-choice2.jpg" alt="">
Susan Mitchell, CEO of Mortgage Choice, said the shift in borrower demand was largely anticipated given the recent changes in the lending landscape. 
“September’s data is unsurprising when you consider the recent rate hikes to variable rate home loan products announced by three of the four major banks. This would no doubt be encouraging more borrowers to fix,” Mitchell said. “History has shown that when the majors lift their rates, smaller lenders are quick to offer competitive pricing on their own products in order to attract borrowers in search of a better deal. However, we have seen limited market movement due to a combination of factors such as the regulatory environment and increasing wholesale funding costs which would no doubt be affecting smaller lenders. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/9/Mortgage-Choice1.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/9/Mortgage-Choice1.jpg" alt="">
 
“Institutions across the country have become more selective about the customers they lend to, vying for borrowers in a healthy financial position. Indeed, lenders are seeking high-quality borrowers who present low risk.  “This highlights the need for borrowers to review their current home loan and financial situation with the help of a qualified mortgage professional and financial adviser to ensure they are best placed to secure a competitive deal when they choose to switch loan providers.”  Mitchell noted that, when home loan interest rates are on the rise, borrowers may want to consider fixing part or all of their home loan, safeguarding against further rate rises and allowing for repayment certainty each month.  “Due to the current tightened lending criteria and lender’s reduced appetite for lending, I would encourage anyone looking to secure a home loan to speak to their local Mortgage Choice broker who can help them navigate the complex lending environment and find a loan to suit their unique financial needs.
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Demand for fixed home loans make a comeback in September: Mortgage Choice

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ANZ has increased on its one to five year fixed rates and for fixed owner occupier and investment loans of up to 34 basis points.
Mortgage brokers were advised ANZ was raising fixed rate interest rate deals across its popular Breakfree home loan deals.
On a three-year owner occupier principal and interest fixed-rate deal the rate will jump by 10 basis points from 3.99 per cent to 4.09 per cent.
This is on the popular Breakfree product which is among the bank’s most popular home loans.
Mozo found this will result in repayments on a $300,000 30-year home loan rising by $17 per month, from $1431 to $1448.
While on a three-year investment interest-only fixed-rate deal on a Breakfree loan the rate will also lift by 20 basis points from 4.69 per cent to 4.89 per cent.
Mozo data shows on the same loan size repayments will increase by $50 per month from $1173 to $1223.
This time last year Mozo noted ANZ lifted two year rates by 23 basis points to 3.98% and pumped three year rates up 34bp to 4.19%.
 
 
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ANZ raises fixed rates in early 2018 move

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Nearly one in three Australians have fixed rate mortgages, according to the latest data from broker Mortgage Choice.
Fixed rate home loans accounted for 31.05% of all loans written throughout the month of August, up from 29.63% in July.
“Fixed rate demand is now at its highest level since December 2013, when fixed rate home loans accounted for 33.06% of all loans written,” Mortgage Choice chief executive officer John Flavell said. 
He added that the growing popularity of fixed rate mortgages was not a surprise because a number of lenders have recently been cutting their interest rates on some fixed rate products. 
“As a result, fixed rate home loans are now very competitively priced, which has made them more attractive to homeowners who are looking for repayment security.” 
Across the country, fixed rate demand was strongest in Queensland, with this type of home loan accounting for 35.48% of all loans written throughout the month of August, up from 28.08% last month. 
South Australia and New South Wales followed, with fixed rate loans accounting for 34.40% and 33.66% respectively.  
Variable rate home loans, specifically ongoing discount products, remained the most popular product with borrowers across the country. 
In Australia, ongoing discount home loans accounted for 40.7% of all mortgages written in the month of August. 
Looking ahead, Flavell said it remained to be seen what would happen with fixed rate demand. 
“We are now in the spring selling season and we are starting to see a lot of rate competition between Australia’s lenders. 
“Over the past couple of weeks, we have seen lenders trim the interest rates across their fixed and variable home loan products, which is great news for anyone looking to buy a property, refinance or upgrade. 
 
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jonathanchancellor-7SQnKwU6yx

One in three Australians opting for fixed home loans: Mortgage Choice

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Home loan approval data for July shows  fixed rate home loans accounted for 29.63 percent of all loans written throughout the month according to Mortgage Choice.
This is its highest level in more than three years, say Mortgage Choice.
John Flavell, Mortgage Choice chief executive officer said this is the highest level of demand we have seen for fixed rate home loans since December 2013, when fixed rate home loans accounted for 33.06 percent of all loans written.
“The surge in popularity for this type of product does not come as much of a surprise when we look at what’s been taking place in the market in recent weeks," he said.
“A few of Australia’s lenders have lowered the interest rates charged on some of their fixed rate products, with some trimming up to 10 basis points from their four and five year rates.
"As a result, many of the fixed rate home loans now on offer are very competitively priced.
“Of course, this isn’t the only activity taking place in the market.
"In recent weeks, many of Australia’s lenders have introduced a raft of other policy and pricing changes.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Chart-2.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/2017/08/03/Chart-2.jpg" alt="">
“Some lenders have significantly increased their interest only pricing across both their investment and owner-occupied products.
"These changes have helped make the mortgage market more complex than ever before.
“Subsequently, borrowers wanting certainty and security over their repayments for a set period of time are increasingly turning to a fixed rate mortgage.
"Fixed rate demand rose in every state throughout the month of July. 
"Western Australia had the highest proportion of borrowers opting for a fixed loan, with the product making up 35.77 percent of loans written throughout July.
"Not far behind was New South Wales, where fixed rate loans accounted for 33.59 percent of all loans written, and Queensland, where fixed rate loans accounted for 28.08 percent of all loans written.
"Overall, variable rate loans remained the most popular product for borrowers in Australia, particularly ongoing discount loans.
"It remained to be seen whether borrowers continued to flock towards the perceived safety of fixed rate home loans, or ride the changes in the market by selecting a variable rate product.
“Borrower demand for certain products will be dictated by what happens in the market.
“For example, if we continue see added complexity in the market - with lenders making changes to their pricing and policy - I would expect to see more borrowers opting for the security of a fixed rate loan.
"Borrowers and prospective buyers needed to remember that home loan rates are still hovering around historically low levels.
“Whether you’re looking to buy your first property, upgrade, refinance or even renovate, now it a great time to make your property goals a reality.”
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