A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Home Loan Rates

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Bargaining a better mortgage rate is a skill mastered by only one in three Australian homeowners.
According to finder.com.au's survey of 1,286 homeowners 33% having been successful in negotiating a lower interest rate on their home loan. Forty three percent of homeowners have attempted to get a discount and of those who asked, 77% were successful. The research also shows almost half of homeowners (45%) didn’t know you could ask for a discount or simply didn’t bother to request one upon application.  Men (37%) were more likely than women (29%) to have asked for and received a rate discount. Bessie Hassan, money expert at finder.com.au, says mortgage holders need to embrace negotiation.  “Don’t settle for the advertised rate. Have the confidence to ask for a lower rate, and reap the reward that will come with making smaller mortgage repayments. “If you don’t ask, you don’t get,” she says. A discount of 0.2 percentage points could save you $20,000 over the course of the average mortgage. Generation X were the most likely to have received a discount (38%) followed by Generation Y (32%). Perhaps surprisingly, Baby Boomers were the least likely (28%) to secure a rate discount. 
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j.ballantyne1990-6AQqhLzZaK

Baby boomers least likely to secure home loan discount

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<div class="article_body">
The ANZ is reducing the headline rate on its Simplicity PLUS home loan for borrowers to 3.99 per cent by increasing the discount by 4 basis points to 56 basis points.
It applies to owner occupiers paying principal and interest only borrowing.
The Teachers Mutual Bank’s Classic Home Loan variable rate has been cut by 30 basis points to 3.84% for new business across its three key brands: Teachers Mutual Bank, UniBank, and Firefighters Mutual Bank.   Fixed rates across a number of home loan products have also been cut for all brands.    “We always seek to provide some of the most competitive rates on the market, and these new rates achieve that aim”, said Teachers Mutual Bank’s head of third party distribution, Mark Middleton.   These rate changes follow on from Teachers Mutual Bank Limited’s recently announced annual results, which highlighted the brand’s strong home loan performance, with first and third party lending growing by a total of 20 percent in 2016-2017.</div>
<div class="article_body">
Macquarie is launching a mortgage and credit card package linked to the variable, principal and interest rate of 3.69 per cent.
The loan offer retains features offset account, a cut in the annual package fee from $398 to $248 and a credit card rate of 5.9 per cent.
Meanwhile the Canstar weekly interest rate summary is below - the number of movements this week in home loan rates has been relatively low. There have been a small number of decreases to owner occupier principal and interest loans while this week marks another consecutive week of little movement in investment loan rates.
Principal and interest only
</div>
<a href="https://www.propertyobserver.com.au/images/2017/11/1/HomeLoansPI.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/2017/11/1/HomeLoansPI.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/11/1/HomeLoan2.jpg" target="_blank"> Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/11/1/HomeLoan2.jpg" target="_blank"><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/2017/11/1/HomeLoan2.jpg" alt=""></a>
 
Interest only 
<a href="https://www.propertyobserver.com.au/images/2017/11/1/HomeLoan3.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/2017/11/1/HomeLoan3.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/11/1/HomeLoan4.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/2017/11/1/HomeLoan4.jpg" alt="">
 
 
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All the latest home loan rate movements: Canstar

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With the Springtime property season starting, lenders are going all the way to woo potential borrowers and grow their market share.
The latest to join the trend is HSBC, following moves by major banks such as Westpac and NAB. 
Westpac recently announced it was cutting mortgage interest rates by up to 85 basis points and waiving fees on other products.
Comparison website Mozo too announced its list of the best home loans in the market, with the lowest product being Loans 3.64 percent variable rate.
The Essentials Variable 80 also didn’t have any ongoing fees, though it had an upfront fee.
In second place on Mozo’s list was the Newcastle Permanent Discounted Variable Home Loan product.
It too had a 3.64 percent variable interest rate, no upfront fees and allows a borrower to get a loan with just 5 percent deposit.
Close on its heels was UBank’s UHomeLoan which offered a 3.74 percent variable rate. It also has no ongoing or upfront fees.
Mozo said the product won in categories including best Low Cost, Split Home Loan and both Fixed and Variable Investor Loans. 
Interestingly, the only lender that had two products in the top seven list from Mozo was Loans.
Its second product was the Offset Variable 80 which had a 3.72 percent variable rate. Again, the product has no ongoing fees though there is an upfront fee of $250. 
Below is a table of offers for owner occupiers and investors from Loans.
<a href="https://www.propertyobserver.com.au/images/2017/09/05/LoansOwner.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/05/LoansOwner.png" alt="">
According to Mozo, the product is well suited to borrowers looking for an offset home loan to help pay less interest and repay their loan faster. It's available to owner occupiers borrowing up to 80% of a property's value.
None of the Big Four banks were on the list.
On lower interest rate products, HSBC Australia’s head of mortgages and third party distribution, Alice Del Vecchio, said “lower rates in the market are encouraging customers to refinance their loans, but 25% of mortgage holders don’t know what their home loan rate is, making it harder for them to recognise the financial benefit of switching their loan”.
Del Vecchio added that its 3.65% p.a. rate can “make a huge impact on the savings over the life of the loan, not to mention freeing up money in the short-term with potentially lower repayments”.
A home owner with a $700,000 variable rate loan at 4.00% p.a. will save more than $40,000 over the life of the loan by switching to HSBC’s lower rate.
The bank also ran a survey, along with RFi Group, on 2,000 mortgage holders in Australia to get a feel for home owner attitudes and motivations.
Of those polled, 30% said speaking to a mortgage broker was one of the first steps towards refinancing a mortgage while 25% said they researched loans online.
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Lenders slash rates for property spring season

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ME Bank will decrease its principal-and-interest variable home loan offer by 10 basis points.
This reduction will be available to new owner-occupier borrowers who are applying for a loan in a member package valued at $150,000 or more and with an LVR at 80% or less.
All interest-only vairable and fixed home loan offers to new borrowers will increase by 40 basis points.
Both these changes are effective July 1.
In August ME will increase its reference rates on all existing variable interest-only loans by 40 basis points
The bank said the changes were being made to manage regulatory requirements on interest-only lending.
ME CEO Jamie McPhee, said the changes are necessary to ensure the Bank complies with macro-prudential measures introduced by APRA, while encouraging existing interest-only home loan borrowers to switch to principal-and-interest.
“Owner-occupier principle-and-interest home loan rates are at record lows.
"Now is a great time to pay down the principal on your home loan.
“ME does not apply a fee for switching from interest only to principal-and-interest.”
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jrobinson-rf4aSBido9

ME Bank moves home loan rates

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Westpac has raised the fixed rates attached to nearly all of its interest only packaged loans.
The bank lifted fixed rates by up to 30 basis points, with interest only rates for owner occupiers now on par with the rates available to investors. 
Owner occupiers on interest-only fixed loans will be the hardest hit — iincreasing rates by 30 basis points across 1, 2, 3, and 5 year fixed deals.
Westpac’s sister banks St.George, BankSA and Bank of Melbourne also joined the rate hike with increases of up to 25 basis points.
A small number of four year fixed rates were slashed however, with 25bp being the most generous cut among them. 
This news comes after CommBank hit investors across 14 of its mortgage products last Friday, with hikes of up to 0.50 basis points.
Last month Westpac increased its variable home loans interest rates for: 
<ul>
<li>Owner occupiers customers by 0.03% to 5.32% per annum with principal and interest repayments (comparison rate 5.46% per annum*)</li>
<li>Owner occupiers customers by 0.08% to 5.49% per annum with interest only repayments (comparison rate 5.63% per annum*)</li>
<li>Residential investment property loan rate customers by 0.23% to 5.79% per annum with principal and interest repayments (comparison rate 5.93% per annum*)</li>
<li>Residential investment property loan rate customers by 0.28% to 5.96% per annum with interest only repayments (comparison rate 6.01% per annum*)</li>
</ul>
 
Comparison site finder.com.au found the likely <a href="https://www.finder.com.au/bank-interest-rates" target="_blank">average home loans rates</a> (below).
They compared the <a href="https://www.finder.com.au/cheapest-home-loans" target="_blank">cheapest home loan rates available</a> and found UBank have the lowest interest rates at 3.74 percent.
<a href="https://www.propertyobserver.com.au/images/2017/04/26/Finder%20home%20loans.jpg" target="_blank">Click here 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/2017/04/26/Finder%20home%20loans.jpg" alt="" width="614" height="184">
Mozo have too <a href="https://mozo.com.au/home-loans/fixed-rate" target="_blank">compared the best fixed rate home loans</a>, suggesting CUA offer the lowest interest rates at 3.84 percent.
In a ratecity.com.au's '<a href="https://www.ratecity.com.au/home-loans" target="_blank">Todays top loans section</a>', Beyond Bank offers a rate of 3.88 percent.
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Westpac raise interest-only fixed rates for owner occupiers and investors

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Most Aussies can remember their phone number (94 percent), their number plate (77 percent) and their parent’s phone number (76 percent), but new research from UBank has revealed 85 percent of Australians don’t know their home loan rate.
For the second year, UBank has released The UBank Know Your Numbers Index.
The 2017 report reveals a slight rise in people not knowing their exact home loan rate – up from 84 percent in 2016.
Of those surveyed 44 percent could only recall an approximate figure for their home loan rate while the remainder (41 percent) simply didn’t know their rate at all.
Lee Hatton, chief executive officer of UBank said actively monitoring and seeking the best rate should be a priority for home owners as there are some great benefits on offer.
"We are seeing some of the lowest home loan rates on record, so now is the perfect time to know your numbers, and consider refinancing," she said.
"Simply knowing your exact home loan rate and managing it closely could save you thousands of dollars a year.”
The research, conducted amongst 1,021 Australians with a home loan, also revealed Aussie’s are feeling financially strained, with 54 percent admitting that their financial situation is causing worry and stress.
While a further 33 percent of Australians constantly worry about their future.
“Unfortunately, more and more Australians are making significant sacrifices due to being financially overstretched," she said.
"The better acquainted you are with your numbers, the less stress and more money you’ll have in your back pocket.
"It’s important Australians borrow less and live more.
"Home owners currently paying 4.24 percent p.a. on a 30 year, $360,000 home loan could end up paying more than $37,000 more than they need to.
"If they were on UBank's low variable rate of 3.74 percent p.a. instead, they could have an extra $1246 in their wallet each year."
The UBank Know Your Numbers Index also discovered that nearly one in four (23 percent) think that refinancing a mortgage to save money is a good idea but are yet to find the right competitive rate.
This year for the first time, UBank’s research also surveyed mortgage holders with credit cards and found only 14 percent know what their current credit card interest rate is, while 49 percent don’t know it at all.
A surprising three out of four Australians don’t know how much credit card debt they owe, and 80 percent don’t know exactly how much they are paying each month in credit card interest.
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Majority of Aussies don't know their home loan rate

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A new RateCity.com.au study shows 33 lenders – including two major banks, ANZ and NAB, – have lifted some of their popular home loan rates in recent weeks.
A total of 382 home loan rates, including 265 fixed and 117 variable products, have been hiked since January 1.
Peter Arnold, data insights director at RateCity.com.au, said lenders had lifted home loan rates by as much as 0.60 percentage points.
“After several years of record low rates, Australian home owners are facing unwelcome news to start the year as more banks quietly raise rates on their mortgages,” he said.
“The banks began lifting home loan rates late last year, with the biggest hikes being applied to their fixed deals at the time.
As a result, most of the impact last year was felt by new customers who were looking to fix their home loans and were prepared to cop the higher rates on the chin. But that's about to change.
The difference now is that more variable rates are under attack, with 117 hikes in the last five weeks largely hitting existing customers.
This is just the start for higher rates and we expect this trend to continue as banks face higher lending costs both from nervous international funding sources and increased pressure from our local regulator to hold more capital.
Variable borrowers should get set for higher expenses this year or be prepared to switch," he said.
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ANZ and NAB lift home loan rates

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Home loan rates continue to drop with close to 200 cuts in the past month.
A new analysis by <a href="https://www.ratecity.com.au/" target="_blank">RateCity.com.au</a> shows 106 variable rate home loan rates have been cut by 0.17 percentage points on average since September 1.
Fixed rates have also dropped in that time, with 74 rates cut by an average of 0.23 percentage points.
Peter Arnold, data insights director at RateCity.com.au, said a huge portion of rates on offer are now under the 4 per cent mark and further cuts are imminent. 
“The cash rate is on hold yet we are still getting home loan cuts as there is so much competition to get new customers and we don’t expect that to change in the near future,” he said.
“There are now 834 home loans with rates under 4 per cent with ongoing variable rates as low as 3.35 per cent, and three-year fixed rates starting from 3.59 per cent.”
RateCity calculations shows that while a typical RBA rate cut of 0.25 per cent frees up $45 a month on a typical $300,000 home loan, switching from the average standard variable rate of 4.62 per cent to one of the lowest available could save borrowers $220 per month.
Arnold said the fact that rates were on hold this month could make buyers complacent when it comes to finding a home loan.
“If you’ve been sitting on a rate it’s as good a time as ever to get a good deal as there’s a lot of the banks fighting hard for customers.”
“Whether it’s variable, or fixed, rates are at historic lows and buyers will end up ahead if they make the most of the competition in the marketplace,” he said.
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Home loan rates at under 4 percent: RateCity

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GUEST OBSERVER
Recent changes to investor lending is failing to have a significant impact on home loan demand, new data has revealed. 
According to the July Housing Finance Data from the Australian Bureau of Statistics, 53,095 home loans were approved over the course of the month – up 0.3% on the month prior. 
The total value of all dwelling commitments was also up, with more than $32 billion in home loans written throughout July. 
The spike in home loan demand and value of dwelling commitments was interesting, especially given the current market conditions. 
Over the last few months, Australia’s lenders have made some sweeping changes to their policy and pricing in a bid to reduce their level of investment lending. 
As such, you would expect these changes to have some impact on the level of investment demand. But, according to today’s data at least, the changes seem to have had little to no impact on the level of demand.
Of course it is still early days, and considering most of the changes were made in June and July, we are unlikely to see the true impact of these changes for some months yet.
Commenting on the 1.5% spike in the value of all loans written over the month of July, Mr Flavell said the result wasn’t surprising given that property prices across the combined capital cities continue to rise. 
Data from CoreLogic found property values actually climbed 2.8% across the combined capital cities over the month of July. 
Sydney and Melbourne were once again the standout performers, with the two capital cities recording property price growth of 3.3% and 4.9% respectively.
With property prices continuing to rise quite quickly month after month, there is little wonder why we are seeing growth in the value of all loans written.
John Flavell is chief executive officer <a href="https://www.mortgagechoice.com.au" target="_blank">Mortgage Choice</a>.
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Home loan demand higher despite changes to investor lending: Mortgage Choice's John Flavell

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<div>These are the top variable investor loan rates available right now, including minimum loan amounts and maximum LVRs, according to banking comparison website Mozo.</div>
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Commonwealth Bank is applying a premium to its fixed rates for investors - 30bp for 1 and 4 years, 40bp for 2 and 3 years, and 10bp for 5 years. </div>
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Bankwest has capped LVR's at 80% for investors across most products. Rates are higher for investors on its 2 year fixed rate and the 3 year introductory rate on its Super Start Home Loan. </div>
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NAB is limiting the maximum LVR on investor loans to 90%. </div>
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St.George/BankSA/Bank of Melbourne has a discount on its Basic Home Loan of 34bp for owner occupiers and its 2 year fixed rates are 20bp lower for owner occupiers. </div>
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<div>2nd TIER LENDERS</div>
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ING Direct increased fixed rates for investors by 20bp and removed discounts for investors with larger loan amounts and lower LVR's on its Orange Advantage and Mortgage Simplifier variable rate loans. The interest only option is now only available on loans with LVR's less than 80%. </div>
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ME Bank now applies a premium for investor loans of 15bp to the variable rates on its Flexible Home Loan Member Package. </div>
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AMP has ceased accepting applications for investor loans and adjusted the rates and tier levels on its Professional Package. Variable rates now start at 4.12% for loans over $750,000. ANZ's Simplicity PLUS loan is no longer available for investors and there's a premium on the bank's fixed rates of 40bp for 1 and 4 years, 60bp for 2 and 3 years, and 30bp for 5 years. </div>
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Suncorp is charging a premium to investors on its variable Home Package Plus which varies depending on loan amount and LVR, and has imposed a maximum LVR for investors of 90%. For LVR's less than 80% the rate for owner occupiers borrowing more than $750,000 stayed at 4.15%, but increased by 9bp for owner occupiers borrowing less than that, while increasing by 29bp for investor loans under $750,000 and increasing by 24bp for investor loans over that amount. For LVR's 80 to 90% the rate was cut to 4.34% for all owner occupiers but for investors the rate stays at 4.49% for under $750,000 and 4.44% for more than that.</div>
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<div>NON-MAJOR LENDERS</div>
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Freedomlend has increased rates for investors by 10bp and capped LVR's at 80%. </div>
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Heritage Bank increased variable rates for investors by 30bp across most products and there's now a 10bp premium for its fixed rates. </div>
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Homestar increased rates for investors by 10bp and now has a maximum LVR of 85%. </div>
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<div>BUILDING SOCIETIES, CREDIT UNIONS &amp; MUTUALS</div>
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CUA has dropped the maximum LVR on its Fresh Start loan from 80% to 70% for investors, and launched two new products (Fresh Start Access and Fresh Start Basic) that are priced 30bp higher for investors. </div>
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Newcastle Permanent Building Society will lend up to 80% LVR for investor loans and applies a $550 application fee. </div>
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UBank will apply a 29bp premium to investor and interest only loans from 10th August.
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Westpac has capped LVR's for investor loans at 80%, and is charging an extra 15bp for investors during the 2 year introductory rate period on its Flexi First Option Home Loan.
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ANZ's Simplicity PLUS loan is no longer available for investors and there's a premium on the bank's fixed rates of 40bp for 1 and 4 years, 60bp for 2 and 3 years, and 30bp for 5 years.
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<div><a href="/images/2015/08/04/investor_loans.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/08/04/investor_loans.jpg" alt=""></div>
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 FOR INFORMATION ON PROPERTY LOANS, RATES AND MORE, VISIT MOZO.COM.AU OR <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">CLICK HERE</a> FOR THE FREE PROPERTY OBSERVER EBOOK, GET LOAN-SAVVY – TIPS FOR A FIRST TIME, INVESTMENT OR REFINANCING LOAN, WHICH HELPS YOU DECIDE ON A HOME LOAN THAT MEETS YOUR REQUIREMENTS.
</div>
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