<section data-scroll-anchor="false" data-testid="conversation-turn-48" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-23" dir="auto">
Melbourne’s apartment market entered 2026 with renewed momentum, but the recovery is uneven, policy-driven, and increasingly shaped by constrained supply.

According to the RPM Apartments &amp; Townhomes Market Report (April 2026), apartments have begun to outperform detached housing on key metrics,yet that performance is occurring against a backdrop of falling approvals and a tightening development pipeline.

At the end of 2025, Melbourne unit values reached a three-year high of $656,500, recording quarterly growth of two per cent. That figure edged ahead of the 1.8 per cent growth recorded in the house market over the same period, marking a notable shift in relative performance. While modest in absolute terms, the outperformance is significant given the sustained dominance of houses through much of the previous cycle.

This shift has been driven in large part by policy. The federal government’s expanded five per cent Deposit Scheme has had a disproportionate impact on apartment demand, particularly in Melbourne where the $950,000 price cap captures a large share of medium- and high-density stock.

As RPM notes, the scheme “heavily favours medium and high-density dwellings,” effectively accelerating demand in the apartment sector.

The impact is most visible in buyer activity. Victoria recorded more than 43,000 new housing loans in Q4 2025, the highest quarterly volume since mid-2022 and one of the strongest results in over a decade. This lift was broad-based across all buyer types, with first home buyers, owner-occupiers and investors all returning to the market with greater confidence.

This surge in demand has flowed directly into apartment pricing, particularly in Melbourne’s middle and outer rings. Middle-ring unit values reached approximately $757,500, a four-year high, while outer-ring units climbed to a record $650,000. Quarterly growth of 2.9 per cent and 2.5 per cent respectively significantly outpaced both the inner ring (0.8 per cent) and the broader house market.

&nbsp;

<img alt="RPM" data-entity-type="file" data-entity-uuid="4628dde5-ad63-4b03-b18e-77d0f750e2aa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.23.32%E2%80%AFAM.png?VersionId=ig6mqc7Oz7UaszRuzULrGtLPUxGf4NJC" />

&nbsp;

The divergence between apartments and houses is also being shaped by affordability. Detached housing remains out of reach for many buyers, pushing demand toward apartments as a more accessible entry point into well-located suburbs. This is particularly evident among first home buyers and downsizers, both of whom are increasingly prioritising location, amenity and lifestyle over land size.

At the same time, population growth continues to underpin demand. Victoria added more than 122,000 residents in the year to Q3 2025, with Melbourne attracting both overseas migrants and interstate movers, partly due to its relative affordability compared to other capitals.

&nbsp;

<img alt="Population" data-entity-type="file" data-entity-uuid="49e10567-a8b3-47c3-afbd-290f0bb62c49" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.22.25%E2%80%AFAM.png?VersionId=.2Drmko4TPh02X55JdF3mIC1EcG0ZfGl" />

However, the most critical factor shaping the apartment market is not demand, it is supply.

Apartment approvals across Greater Melbourne have fallen sharply, signalling a constrained pipeline of future stock. In Q4 2025, just 2,339 apartments were approved, down 20 per cent on the previous quarter and 47 per cent lower than the same period a year earlier. On an annual basis, 11,066 apartment approvals were recorded, an improvement on the previous year, but still well below medium- and long-term averages.

&nbsp;

<img alt="Apartment approvals" data-entity-type="file" data-entity-uuid="12f2e7bc-fe01-40c0-80b5-9e829b279d98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.21.56%E2%80%AFAM.png?VersionId=5mnIXkXGoDgIJdAFhA0alm0cSKzEytqZ" />

This decline reflects a broader contraction cycle that has been underway since 2020. As RPM notes, “apartment approvals appear to be sliding back into a downward trend,” with developers increasingly focused on launching and completing existing projects rather than initiating new ones.

The reasons are well understood. Construction costs have risen more than 20 per cent since 2021, driven largely by labour shortages and material price escalation. At the same time, financing conditions have tightened, with lenders requiring higher contingencies and taking a more cautious approach to risk. Combined with recent interest rate rises, these factors have made feasibility more challenging, particularly for higher-density projects.

This dynamic is creating a disconnect in the market. Demand for apartments—particularly at the more affordable end—is strengthening, while the pipeline of new supply is weakening. In the short term, this may limit the number of new projects coming to market. Over the medium term, however, it is likely to support price resilience and potentially further outperformance relative to houses.

There are some signs of policy-driven supply response. The introduction of Victoria’s Mid-Rise Code, which streamlines approvals for four- to six-storey developments, is expected to improve delivery in well-serviced middle-ring locations. However, this is unlikely to materially offset the broader decline in apartment approvals in the near term.

Despite the positive momentum at the end of 2025, the outlook for 2026 has become more complex. Two interest rate rises early in the year have already impacted consumer confidence, while broader cost pressures, particularly energy and fuel, are feeding through to construction and development costs.

“Victoria’s built form market ended 2025 on a high, but early 2026 rate rises quickly reversed the momentum,” RPM notes.

The implication is that while apartments are currently outperforming houses, the trajectory of that outperformance will depend on how these competing forces evolve. Policy support and affordability are clearly working in favour of apartments, but constrained supply and rising costs are likely to shape the pace and nature of future growth.

What is increasingly clear is that apartments are playing a more central role in Melbourne’s housing market. As population growth continues and affordability pressures intensify, higher-density housing is becoming not just an alternative to detached homes, but a primary solution to the city’s housing needs.
</section>

Joel Robinson

Units lead Melbourne price growth as apartments outperform houses: RPM

Brunswick is set for some of its largest apartments ever delivered with the upcoming new development Frith &amp; Howarth, where the apartments are around 20 per cent larger than what has come before it in the sought-after suburb.

Developer Young Group focused its design on Frith &amp; Howarth around size and scale, but within a boutique building, to create a mini neighbourhood within the mid-rise development. There are just 24 apartments in the mid-rise building on Victoria Street, a short walk to Brunswick Station and the cafe and dining strip along Sydney Road.

“We spent hours comparing what’s currently on the market so we could offer genuine points of difference,” Young Group says, pointing to room sizing, storage, and functional planning as key drivers behind the design.

All of the two-bedroom apartments in the building have been snapped up, with just the large three- and four-bedroom apartments, with the biggest floorplans and best outlooks, remaining.

[smartcode_project:default project_id=134317 project_image_fid=354139]

Apartments open directly into open-plan living zones where full-height glazing draws light deep into the apartment. Sliding doors extend the space outward to terraces, many oriented toward the adjacent park or back toward the city skyline.

Kitchens sit within this central space, anchored by sculptural island benches that reference the building’s faceted exterior language. Storage is integrated across multiple layers, overhead cabinetry, concealed joinery, and, in larger configurations, dedicated sculleries or butler’s pantries.

[smartcode_project:default project_id=134317 project_image_fid=354137]

The penthouse is the largest ever offered in Brunswick. The penthouse measures nearly 400 sqm all-up, with 242 sqm of internal space complimented by a further 149 sqm of terraces.

It spans the whole top floor and has four bedrooms, four bathrooms, and parking for four cars.

[smartcode_project:default project_id=134317 project_image_fid=354133]

Low maintenance resident amenity has been created in the form of a landscaped rooftop, complete with&nbsp;vegetable plots, outdoor cooking areas, and aflresco dining spaces, designed as a place for neighbours to gather outside of their homes.

“To enable connection with neighbours, generous rooftop gardens with communal spaces and outdoor cooking areas offer a chance to develop a sense of community,” says John Patrick, Principal of <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a>.&nbsp;

“Private open spaces with a selection of native and exotic plantings and gorgeous city views on the rooftop create a high-end aesthetic, with a low maintenance lifestyle. The perfect balance, so that residents can enjoy a serene living space.”

[smartcode_project:default project_id=134317 project_image_fid=354134]

Sustainability is embedded at both the building and apartment level. <a href="https://www.apartments.com.au/new-apartments/frith-howarth-288-290-victoria-street-brunswick-vic-3056">Frith &amp; Howarth</a> is one of only a small number of all-electric residential developments in Brunswick, supported by solar infrastructure, EV-ready parking, and high-performance glazing. These measures sit alongside less visible systems such as rainwater reuse and high-grade insulation, reducing long-term operational costs while maintaining consistent internal conditions.

Positioned within walking distance of Brunswick Station, Route 96 trams, and established retail along Sydney Road and Barkly Square, the development balances access to transport with proximity to open space, a combination that has become increasingly difficult to secure in inner-city sites.

“These exquisite homes are nestled in a culturally diverse neighbourhood, with parklands and nature right on your doorstep,” says Young Group.

[smartcode_project_cta:default project_id=134317]

Frith & Howarth to deliver Brunswick’s largest apartments

<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> in Brunswick is entering its final stages of construction, with the removal of the project’s last tower crane and the unveiling of the building’s full façade marking a significant milestone ahead of completion this coming spring.

The Park Street development, designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>&nbsp;and Mirvac Design with landscaping by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, is now largely structurally complete, with internal works progressing across the 169-apartment project opposite Princes Park.

<a href="https://www.apartments.com.au/builders/mirvac-construction">Mirvac Construction</a> Project Manager Sam Payne said the latest update reflects a transition from structure to refinement.

“Since our last update, all façade panels have been installed and the scaffolding and gantry has come down, unveiling the building in its full form for the very first time,” Payne said.

“A significant milestone was reached this month with the removal of our final tower crane, signalling the completion of major structural works and a pivotal step forward in the building’s transformation.”

[smartcode_project:default project_id=4802 project_image_fid=366856]

Apartments are now well advanced internally, with joinery completed to level eight and tiling to level six, alongside the delivery of a prototype apartment used to set the benchmark for the remaining residences.

This next phase coincides with the release of a completed furnished residence, styled by MCM House, and the introduction of private buyer tours, giving purchasers a clearer understanding of the finished product ahead of settlement.

<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> will comprise 169 one to four-bedroom apartments, with completion targeted for early spring. Interiors focus on natural materials and muted tones with two design schemes, while kitchens and bathrooms adopt a restrained palette anchored by stone, timber and textured finishes.

Bates Smart Director Jeffery Copolov said the project reflects a shared design direction centred on liveability and sustainability.

“Blending Mirvac and Bates Smart’s focus on wellness and sustainability, <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> offers a new kind of conscious, elevated living in Melbourne’s inner north,” Copolov said.

<a href="https://www.urban.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> presents Mirvac's third parkside collaboration with&nbsp;<a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>&nbsp;in Victoria.&nbsp;Their previous collaborations delivered two of the city’s landmark apartment buildings: The Melburnian opposite Kings Domain and The Eastbourne on Fitzroy Gardens.

[smartcode_project:default project_id=4802 project_image_fid=366857]

A key focus of the development is its landscape-led amenity offering. The central courtyard, spanning around 600 sqm, will feature established trees and planting grown off-site, alongside communal lawns and seating areas designed for everyday use.

Development Manager James Gardner said the outdoor spaces are central to the project’s lifestyle positioning.

“<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> isn’t just a home, it’s a complete lifestyle offering, and the resident amenity is just one example of the elevated living experience the soon-to-be-complete building will be known for,” Gardner said.

The courtyard connects to a series of shared indoor and outdoor spaces, including a residents’ lounge, dining room, library and secondary west-facing garden area, designed as extensions of the apartments themselves.

Located directly opposite Princes Park and around four kilometres from the CBD, the development places residents within one of Melbourne’s most established inner-north precincts, with access to open space, transport and the retail and hospitality offerings of Brunswick and Carlton.

With façade works complete and landscaping and final finishes now underway, <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> is moving into its most active construction phase, with permanent services and external works to be finalised in the coming months ahead of completion in spring.

[smartcode_project_cta:default project_id=4802]

Mirvac’s latest landmark, Prince & Parade Brunswick, enters final construction phase

Boutique Perth developer ADC has unveiled its latest project.

The developer, which focuses on bringing apartments to some of Perth's most premium inner-city and riverside suburbs, has launched <a href="https://www.apartments.com.au/new-apartments/mos-lane-mosman-park-46-manning-street-mosman-park-wa-6012">Mos Lane</a>, 68 luxury apartments and townhouses in the heart of <a href="https://www.apartments.com.au/developments/mosman-park-wa-6012">Mosman Park</a>.

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Alongside the one-, two-, three- and four-bedroom apartments, the development will also include five two-level townhomes and two luxe penthouses. ADC is also introducing a significant retail offering for residents through Mos Lane Village, which will feature a wellness studio, fish and chips shop, barber, and florist, adding a layer of amenity not typically found in the predominantly residential Mosman Park area.

Construction has already commenced on the project, which sits just a short walk from the Swan River, Mosman Park Bowls Club, and Mosman Park Golf Course.

House Agency Directors Tom House and Lachlan McDonald say they are fielding the majority of buyer interest from local downsizers, as well as buyers with a long-standing affinity for Mosman Park.
</section>

[smartcode_project:default project_id=148957 project_image_fid=364591]

Mos Lane will comprise two buildings; Samson House and Manning House, which have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/nelson-koo">Nelson + Koo</a>, an emerging design consultancy specialising in the masterplanning and design of mixed use places and spaces.

The two buildings adopt distinct architectural responses to their surroundings. Manning House references the strong roof forms of nearby homes, with floorplates oriented to maximise light and long-range views, while Samson House is organised around a central atrium designed to bring daylight deep into the building and create a greater sense of openness.

At ground level, the inclusion of five townhomes introduces a typology more commonly associated with Mosman Park’s established streets, each with private courtyards and direct frontage, offering a transition between traditional housing and apartment living.

[smartcode_project:default project_id=148957 project_image_fid=364103]

Interiors have been led by Melbourne-based Hecker Guthrie, with an emphasis on practical, long-term liveability. Residences incorporate sculpted joinery, generous storage and flexible multi-purpose rooms that can adapt to changing household needs, whether for working from home, guest accommodation or additional living space.

Material selections draw on a restrained palette of textured stone, timber and neutral tones, with options for lighter or darker schemes. Detailing such as fluted glass, full-height joinery and integrated appliances is intended to balance functionality with a more refined residential finish.

Outdoor spaces are a consistent feature across the development, with balconies and terraces designed for dining and entertaining, and larger apartments incorporating outdoor kitchens. Orientation has been considered to allow residents to choose between morning or afternoon sun, while mature street trees and landscaped communal areas contribute to a softer streetscape.

[smartcode_project:default project_id=148957 project_image_fid=364107]

Shared amenities are positioned to support both day-to-day convenience and occasional use. These include a private dining room with a caterer’s kitchen, alfresco entertaining areas, and a bookable guest suite for visiting friends and family. Additional practical features such as a resident workshop, storage facilities, car and pet wash areas, and concierge-style services for cleaning and dry-cleaning collection reflect a focus on usability.

Positioned between the Swan River and Cottesloe Beach, and within reach of schools such as Iona Presentation College and St Hilda’s Anglican School, the development is aimed at a broad buyer group, from downsizers seeking a lower-maintenance alternative to larger homes, through to local residents looking to remain in the area in a different housing format.

Mos Lane represents one of the more significant additions to Mosman Park’s limited pipeline, combining new housing supply with a village-style retail centre in a suburb where opportunities for large-scale redevelopment are relatively constrained.

[smartcode_project_cta:default project_id=148957]

Living village precinct set for Mosman Park as ADC launches Mos Lane

An entity linked to I&amp;D Group Founder Ivan Filipović has filed plans for a new residential development at 188–202 Swan Street in Cremorne, targeting a prominent site within the tightly held Swan Street activity corridor.

The proposal seeks to redevelop the consolidated Swan Street landholding into a <a href="https://www.apartments.com.au/new-apartments/188-202-swan-street-cremorne-vic-3121">high-density mixed-use project</a>, replacing a series of existing commercial buildings with a significantly scaled residential outcome. The planning submission positions the development as a response to increasing demand for housing in well-connected inner-urban locations, particularly within established activity centres.

Plans outline the construction of a 14-storey building delivering 165 apartments above a four-level basement, alongside a ground-floor retail and commercial offering designed to activate the streetscape. A key feature of the scheme is a new north–south pedestrian link connecting Swan Street to Railway Place, intended to “enhance permeability and provide an active, publicly accessible connection through the site.”

<img alt="First Look: Plans lodged for Ivan Filipović-linked Cremorne apartment project on Swan Street" data-entity-type="file" data-entity-uuid="7332a8f8-dd2b-483d-b86e-320658838c84" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/cremorne.png?VersionId=cXm8vAaRdHh.LpYVbecrRkjckgu9mtAF" />

The development will retain part of the existing built form at 198–200 Swan Street, while the remainder of the site will be cleared to accommodate the new structure. Basement levels will provide 196 car spaces and 113 bicycle spaces, with vehicle access from Railway Place. Communal amenity is distributed across the building, including a shared outdoor area on Level 1 and a rooftop terrace for residents.

Ground level uses include retail tenancies fronting Swan Street and the pedestrian link, a residential lobby, and a flexible commercial space positioned to support community-oriented uses. The planning report notes this space “could be offered as a flexible space within the development for community groups,” supporting short-term or longer-term occupancy arrangements.

<img alt="First Look: Plans lodged for Ivan Filipović-linked Cremorne apartment project on Swan Street" data-entity-type="file" data-entity-uuid="8208bf7b-cc67-485d-ad0f-1d73a74c907f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/cremorne%20lane.png?VersionId=69ctjC0txXv0zCHy7qQUpJyGwvPAT7gw" />

The site sits within the Swan Street Major Activity Centre, surrounded by a mix of retail, hospitality, and emerging residential development, and directly opposite tram services along Swan Street. East Richmond Station is located to the south, providing strong rail connectivity, while the broader Cremorne precinct continues to evolve as a mixed-use hub.

I&amp;D Group, founded by Ivan Filipović, is regarded as one of Victoria’s largest formwork contractors, partnering with major construction firms across large-scale public and private developments. The Swan Street proposal signals a move into development-backed opportunities tied to strategic inner-city sites.

First Look: Plans lodged for Cremorne apartment project on Swan Street

Home Deposit

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Sunnybank Hills real estate agency Prestige &amp; Rich Pty Ltd, trading as Stephanie To Realty, has been fined $5,000 by the Holland Park Magistrates Court.
The Office of Fair Trading (OFT) alleged that Ms Stephanie To, the sole director and principal licensee of the agency did not return a deposit to a buyer from a failed sales contract, retaining a $20,000 sales commission which she was not entitled to.
The court heard that Stephanie To Realty was appointed the selling agent for the sale of a Sunnybank Hills property. A buyer entered into a contract to purchase the property but the contract was later terminated because the buyer could not obtain suitable finance.
The buyer requested Stephanie To Realty return the $24,500 deposit they had paid, as allowed for under the contract. The property seller also agreed that the deposit should be returned to the buyer.
However, in contravention of the Agents Financial Administration Act 2014 (AFAA), Stephanie To Realty did not release the funds from its trust account to the buyer and instead released the deposit to the seller minus a $20,000 sales commission payment to the agency.
The OFT issued an infringement notice to the agency, however, Ms To elected to have the matter heard in court.
The court found Stephanie To Realty guilty of one count of failing to pay a disputed amount from a trust account and a conviction was recorded.
Magistrate Robert Turra said that the defendant ignored advice and direction to benefit the agency and stubbornly insisted on the defendant’s own definition of the law.
The Queensland Civil and Administrative Tribunal (QCAT) upheld the OFT’s decision to award a $24,500 payment from the AFAA claim fund to the buyer, dismissing a review lodged by Stephanie To Realty.
QCAT confirmed the OFT’s decision to award the claim fund payment as compensation for the misappropriated deposit was appropriate.
The amount of $24,500 will be recovered from Stephanie To Realty to repay the AFAA fund.
Fair Trading Executive Director Brian Bauer said real estate agents regularly dealt with large sums of money and needed to act with integrity to have a position of trust in the community.
“Agents not dealing with consumers’ money in accordance with the law will be held accountable by the OFT,” Mr Bauer said.
“The purchase and sale of properties are the biggest transactions in most people’s lives, and Queenslanders need to know agents will follow the rules.”
The median price for a house in <a href="/developments/sunnybank-hills-qld-4109">Sunnybank Hills</a> is $685,000, according to CoreLogic data.
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j.ballantyne1990-6AQqhLzZaK

Failed sale deposit dispute on Sunnybank Hills sees agent fined

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Banks have put the brakes on lending to people with small deposits, according to new research from RateCity.
Banks have slashed the number of mortgage products with a maximum loan-to-value ratio (LVR) of 95% in the past three years. 
Fewer than a third of home loans in the RateCity database now offer lending up to a maximum of 95% of the value of the property.
That’s down from 76% of all loans on offer in early 2015, in line with lending guidelines by the Australian Prudential Regulation Authority (APRA), who want banks to loan with small deposits to be the exception, rather than the rule.
Sally Tindall, spokesperson at RateCity, said the banks were actively looking for deposits of 20%, if not more.
“For Australians battling to crack into the highly competitive home loan market, low-deposit loans have been a doorway in," Tindall suggested.
"But the rules have changed and now borrowers that might have been given the green light three years ago are starting to be turned away."
RateCity research shows that upgrading from a 5% deposit to a 20% deposit on a $500,000 mortgage will require a buyer to stump up an extra $75,000 in cash.
“These new LVR requirements will set a lot of potential buyers back, because they just don’t have access to that kind of money.
“But the alternative is worse. Stretching yourself thin at record low interest rates can be a recipe for disaster.
“It’s been over seven years since we’ve experienced an RBA rate hike and people have become complacent. These new LVR rules will sharpen the focus who is serious about securing housing finance,” Tindall said.
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jonathanchancellor-7SQnKwU6yx

Banks tighten the screws on small-deposit home loan borrowers

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<div>
Liquidators are warning property buyers caught in the collapse of Deposit Power that there is no update yet on their deposit bond guarantees.
"It appears that, at this point in time, the interim liquidators cannot advise the timeframe in which claims will be paid or the dollar value that will be paid," stakeholders were told by the interim administrator.
<div>Deposit Power, which provided interim finance to property buyers, went into liquidation on February 23.</div>
<div> </div>
<div>Deposit Power offered deposit guarantee bond products, assisting Australian borrowers and investors to buy residential and commercial properties without the need to provide a cash deposit.</div>
The Administrators have urge all stakeholders, including property purchasers who have purchased deposit guarantee bonds to seek independent legal advice as to their rights generally. 
It means deals potentially coming undone if vendors are unwilling to wait for buyers to find alternative finance, according to mortgage brokers.
Existing deposit guarantee bonds cannot be amended because Deposit Power's parent, CBL Insurance, is in interim liquidation after the parent company into interim liquidation.
Gavin Moss, is the interim administrator of Deposit Power, which closed after the collapse of New Zealand's CBL Insurance.
</div>
<div>
<div id="article-inline-ad">Bids for Deposit Power were being made on this month.</div>
<div> </div>
<div>An estimated 4000 local residential, commercial and property investors - down from the initial 10,000 in the initial Australian Financial Review report - have an estimated $200 million of deposits unresolved now for more than a month after the bond issuer and guarantor was placed in interim liquidation.</div>
<div> </div>
<div>Deposit Power had links with most of the major property broker networks and major banks through their broker networks.</div>
</div>
<div>
Deposit Power was on the product panel of most of the leading mortgage brokerages and aggregators, including Mortgage Choice.
</div>
 
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Deposit Power collapse imperils smooth property settlements

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Nearly 95,000 first homes were purchased in the year to August 2017, the highest figure since June 2015, says a new report from Bankwest.  
Even though the 94,135 first homes bought till August represent a year-on-year increase of 5.6%, and a slightly cooling property market, the 2017 Bankwest First Time Buyers Report shows the amount of time Australian first time buyers will take to save for a deposit is still on the increase. 
The data also showed that the first home buyer figure accounts for 14.3% of all purchases over the same period. 
The report shows first time home buyer couples (FTB) will have to save for an average of 4.6 years to accumulate the $111,080 needed for a 20 per cent house deposit on a median priced home. This is three months longer than in 2016 (4.4 years) and a $7,173 increase on the $103,907 deposit required last year. 
<a href="https://www.propertyobserver.com.au/images/2017/12/1/FHBAus.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/FHBAus.png" alt="">
FTB couples on average took two months longer to save for a deposit in the major cities except Perth and Darwin, said Bankwest general manager Personal &amp; Small Business Banking, Donna Dalby.
“Perth and Darwin as cities buck the national trend, being the two places where the savings times for first time buyers have dropped year on year. Perth’s house prices have dropped by 4.3% which means the saving time to get the 20 per cent deposit of $103,046 (down $4,627 from 2016) has dropped by three months to 3.9 years,” she said.
“Likewise WA as a whole is the most accessible mainland state for first time buyers. Our report shows in WA it takes 3.6 years to save the necessary $94,651 deposit.” 
“Low interest rates and a 6.9% increase in house prices with sluggish wage growth of only 2% during the same period are making it increasingly difficult for first time buyers to get a foot on the property ladder. 
“While lower interest rates are beneficial for those who already own their homes in the form of lower loan repayments and interest, they can also bring more buyers into the market and this can drive up house prices, making home ownership less affordable for first time buyers.” 
However, Perth’s Peppermint Grove defies the notion of WA’s accessibility and the local government area (LGA) has the longest savings time in all of Australia.
The salubrious suburb takes this unenviable title with a saving time of 21.2 years to save the $672,944 deposit need to put down a deposit (down from 21.7 years a year ago). The suburb of Mosman on Sydney’s north shore is threatening to end Peppermint Grove’s long reign, with the average couple needing 20.4 years to save a deposit – four years longer than in 2016. This is largely due to Mosman house prices appreciating by almost a third (29.8%) in the year to June 2017. 
The report suggests that FTB couples could get on the property ladder quicker if they opted for an apartment instead of a house.
The average savings time for a unit across Australia is 4.2 years, 5 months less than the what’s needed for a house. 
“Everyone dreams of having their own house but medium and high density housing is on the increase across the country and can offer a noticeably quicker route to home ownership than aiming at a house purchase,” said Donna. 
At the other end of the scale the LGA of Dundas in south eastern WA is the area with the shortest saving time – just 0.7 years are needed to save the necessary 20% deposit of $16,346. 
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More first time buyers enter housing market but saving for deposit an uphill task: Bankwest

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GUEST OBSERVER
At the start of a new year many of us make a number of resolutions that we wish to integrate into our lives. These resolutions can often include a commitment to eat better, exercise more or be better with our finances. Whether you’re aiming to become a better saver, or you’re wanting to save for a home deposit, the key is to not let your resolution fall flat. There are a few easy steps everyone can follow to ensure any financial resolutions become a reality. 1.  Set a goal  The key to saving more money is setting a financial goal that is specific and realistic.   You can have a large goal in mind, such as buying a home, but you should also break it up into smaller goals that will be easier to achieve.   If your goal is to save more money, give yourself a dollar figure and a target date to achieve that by, as this will keep you accountable. 
Savings calculators are helpful tools that can assist you in working out how much you can save a month and how long it will take for you to reach your savings goal.   You should review your goals at least once every six months to track how you’re doing. If you find that you are not making much progress, rather than giving up, make changes so that you can achieve your goals.   2.  Set up a budget  Mr Flavell said a budget was an essential factor in achieving any financial goal.     By creating a budget, you will have full control of your finances as you will know how much you are spending and saving.   Tracking where your money is going also allows you to make clear decisions about your purchases, see what expenses you can potentially cut back on, and plan your spending ahead of time.   A budget did not have to be too complicated.   It can be a simple document such as a spreadsheet, where you note down your income and all your expenses for the month.   The trick is to review and update it regularly to make sure it always aligns with your current financial or personal situation.   3.  Review your spending  You can boost your savings significantly by cutting back on certain expenses, or finding more affordable options. Look at your current contracts – like gym memberships and or your phone contract and see if there are easy ways for you to reduce the amount you spend each month. Call your gym up and ask for a discount, or research your phone provider options online and see if there is a cheaper supplier on the market.   While you may only save a few dollars here and there, not only does every cent count, but every cent takes you one step closer to your end financial goal. 4.  Reduce debt  Another great way to reach your financial goal faster is to pay down your existing debt.   The Christmas period is an expensive time of the year, so you have probably racked up debts on your credit card.   When you get your credit card bill, aim to pay these off completely or minimise them as soon as possible. You should also try and pay more than the minimum amount, which is typically 2 percent of your closing balance, to avoid paying additional interest.   When you pay off your debts, you free up your cash flow. This means you have more money in your back pocket each month that you can put towards your financial goals.   5.  Shop around for better deals  Now that you know how much you’re saving and how to potentially increase your cash flow, the next step is working out the best place to put your money.   If you want your money to work as hard as possible for you, you need to ensure you are saving it in the right location.   Get online and research the various options provided by Australia’s lenders. By doing your research, you will see what term deposit facilities or savings accounts will offer you the greatest return on your dollar.    Before making any final decisions however, speak with your bank or your local broker to ensure it is the right financial move for you and your end goals.
John Flavell is chief executive officer <a href="https://www.mortgagechoice.com.au/" target="_blank">Mortgage Choice</a>.
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