<p data-end="223" data-start="130">For the new generation of residents, an apartment’s value extends well beyond its four walls.</p>

<p data-end="497" data-start="225">Comfort, convenience, and community now sit on the same priority list as layout and finishes. As expectations rise, developers are responding with private amenities that elevate everyday living, transforming buildings into complete environments where residents can thrive.</p>

<p data-end="722" data-start="499">ASX-listed developer Mirvac knew they were setting new benchmarks when they began creating the plans for Harbourside Residences, the residential component of the Harbourside Shopping Centre redevelopment on Darling Harbour.</p>

<p data-end="930" data-start="724">During the design phase, working with its in-house design team and co-collaborators Snøhetta+Hassell and Bates Smart, Mirvac conceived a level of resident amenity rarely seen in inner-city apartment living.</p>

<p data-end="1002" data-start="932">[smartcode_project:default project_id=141327 project_image_fid=352388]</p>

<p data-end="1051" data-start="1004">The focus was firmly on wellness and lifestyle.</p>

<p data-end="1273" data-start="1053">The dedicated wellness zone brings together an indoor lap pool, traditional sauna, steam room, ice bath, and a yoga and Pilates studio—features typically found in top-tier resorts, now tailored for daily residential use.</p>

<p data-end="1345" data-start="1275">[smartcode_project:default project_id=141327 project_image_fid=352382]</p>

<p data-end="1404" data-start="1347">The building’s social spaces follow a similar philosophy.</p>

<p data-end="1600" data-start="1406">A residents’ cinema room, golf simulator, and private lounge—complete with show kitchen and formal dining space—support multiple modes of use, from casual gatherings to large-scale entertaining.</p>

<p data-end="1672" data-start="1602">[smartcode_project:default project_id=141327 project_image_fid=352383]</p>

<p data-end="1770" data-start="1674">What truly sets Harbourside apart is the amount of outdoor amenity they’ve been able to deliver.</p>

<p data-end="1994" data-start="1772">On the podium level sits a lagoon-style pool framed by garden terraces and shaded pathways that open toward uninterrupted harbour and city views—a rare outlook given the limited new development along the western foreshore.</p>

<p data-end="2167" data-start="1996">Cabana seating along the lounge deck offers a sense of retreat seldom found in inner-city developments, creating a calm interface between private life and the city’s edge.</p>

<p data-end="2239" data-start="2169">[smartcode_project:default project_id=141327 project_image_fid=352372]</p>

<article data-scroll-anchor="true" data-testid="conversation-turn-8" data-turn="assistant" data-turn-id="request-WEB:5fbbf2d6-867e-48bc-88da-0cfee6acf80e-3" dir="auto" tabindex="-1">
<p data-end="447" data-is-last-node="" data-is-only-node="" data-start="74">Future residents at Harbourside will have direct access to the Darling Harbour foreshore, which is undergoing a $15 billion regeneration. The revitalisation will include a new shopping centre with a series of retail and hospitality venues, adding to an already popular precinct and elevating its prestige to rival its glamorous neighbours, Barangaroo and Circular Quay.</p>

<p>The first-stage release of apartments in November last year achieved more than $700m in pre-sales in a single sell-out weekend with more than $800m total pre-sales to date.</p>
</article>

<p data-end="2626" data-start="2459">The development giant has now released the most coveted apartments in the building: the three- and four-bedroom homes positioned toward the top of the 48-storey tower.</p>

<p data-end="2828" data-start="2628">Construction of Harbourside Residences is well underway. Mirvac—designing, building, and delivering its own projects, a model that reduces risk and ensures consistency—expects completion in late 2027.</p>

<p data-end="2879" data-start="2830">[smartcode_project_cta:default project_id=141327]</p>


Staff Writer

Mirvac matches Darling Harbour doorstep amenity with private resident amenity at Harbourside

<p><a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a> has officially submitted its plans to the Department of Planning, Housing and Infrastructure (DPHI) for a State Significant Development Application (SSDA) for the Rhodes Bay Masterplan, a $3.2 billion mixed-use project in Sydney’s Inner West.</p>

<p>The project will deliver over 1,800 new waterfront dwellings alongside over 16,000 sqm of new public open space dedicated to a range of sporting facilities and water activities, community parklands and a retail and dining precinct.</p>

<p>The Rhodes Bay Waterfront Masterplan spans 3.1 hectares across four amalgamated sites, fronting Cavell Avenue, Averill Street and Leeds Street in Rhodes. Located on the northern tip of the Rhodes peninsula, the site is one of the suburb’s last remaining north-facing developments that fronts the Parramatta River.</p>

<p>It will see former industrial land transformed into a thriving mixed-use residential village, connected to public transport and community amenities.</p>

<p>Significantly, it will open up previously privatised industrial land on the Parramatta River foreshore and return it to public access for the first time in more than a century.</p>

<p><img alt="Billbergia’s $3.2 billion vision for Rhodes waterfront to deliver more than 1,800 new homes" data-entity-type="file" data-entity-uuid="c48b7d1f-550f-4369-b76c-8521426217c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Active%20waterfront_1_smaller.jpg?VersionId=KmIu65J3EQDxAHsOxQZxA29lBNVuzURs" /></p>

<p>The masterplan has been designed by award-winning architects <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>. It features eight residential towers between 22 and 40 levels, providing a total of 1,840 dwellings. Abundant new community infrastructure will be delivered, including a foreshore promenade and over 16,000 square metres of new public open space and sporting facilities.</p>

<p>The masterplan builds on an earlier Rhodes Place Strategy and now delivers more than double the amount of open space. It is also aligned with the Government’s long-term vision for connected walking and cycling paths along the Parramatta River.</p>

<p>Subject to approvals, 800 of the new apartments will be delivered before 2029 under the Government’s Housing Accord Targets, while the overall precinct could be completed by 2034.</p>

<p>The new Masterplan sits adjacent to Billbergia’s existing Rhodes Bay Stage 1, already approved and under construction delivering a further 400 apartments via a separate SSD process, prior to the Masterplan being prepared.</p>

<p>“We are excited to contribute to the ongoing urban renewal of the peninsula from its industrial past to deliver a new urban village that will unlock public access to the Parramatta River waterfront,"&nbsp;said Saul Moran, Billbergia’s Development Director</p>

<p>"This world-class project will redefine liveability, seamlessly blending modern homes with retail, dining, and essential services – all set among parklands down to the water. More importantly, Rhodes Bay will deliver abundant new amenities for the existing community – with a waterfront promenade, community gardens and a multi-purpose sports, retail and dining precinct.”</p>

<p>Separately, the NSW Government has provided funding for a new Public Primary School on an adjoining site that will include fit-for-purpose classrooms and core facilities to meet the needs of the growing local community.</p>

<p><img alt="Billbergia’s $3.2 billion vision for Rhodes waterfront to deliver more than 1,800 new homes" data-entity-type="file" data-entity-uuid="4a93defd-7005-4d0e-91e8-aae61adf8fe2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BLBG1400_Leeds%20St_E01_Podium%20Stair%20copy%202_smaller.jpg?VersionId=lqETZ9UJKSCAlqbPiYqM4A78CiM_7pXM" /></p>

<p>According to Billbergia, staged construction of the new masterplan could start by late 2026.</p>

<p>The application aligns with the NSW Government’s Housing Accord targets to deliver 322,000 homes across Greater Sydney by 2029.</p>

<p>The Rhodes Bay Masterplan will also deliver more than $150 million in contributions toward State and Local Government infrastructure including affordable housing.</p>

<p>Leading Rhodes’ urban renewal for more than 15 years, Billbergia is the single-largest provider of homes and privately-funded social infrastructure in the suburb. Billbergia has already delivered more than 3,000 homes alongside social infrastructure, including the 1.2-hectare Phoenix Park, 13,000-square-metre Rhodes Central Shopping Centre, $63 million Bennelong Bridge and the new $90 million Rhodes Recreation Centre that opened on 20 October 2025.</p>

<p>Detailed planning, technical studies and early consultation has been undertaken to support a submission to the Department of Planning, Housing and Infrastructure (DPHI), with assessment and public exhibition expected in the New Year.</p>


Joel Robinson

Billbergia’s $3.2 billion vision for Rhodes waterfront to deliver more than 1,800 new homes

<p>Boutique Melbourne developer JMSN has filed plans for its second apartment development in the inner city, lodging an application through the&nbsp;Department of Transport and Planning for a second project in the Fitzroy area.</p>

<p>Fresh off topping out its debut project ns277 in Fitzroy, JSMN, led by Sam Jamieson, is proposing <a href="https://www.apartments.com.au/new-apartments/301-317-rae-street-fitzroy-north-vic-3068">27 apartments in Fitzroy North</a>. The seven-storey building will replace a single-storey brick warehouse on a 1,069 sqm corner site on the corner of Rae and Alfred streets, within the&nbsp;Nicholson Street Neighbourhood Activity Centre.</p>

<p><img alt="JMSN" data-entity-type="file" data-entity-uuid="31fe7f2d-6585-427c-bdb2-c44418ff7294" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-17%20at%2011.36.54%E2%80%AFAM.png?VersionId=I1r4AFIIQG6K4EmKdtuIeI7RlYev4gvj" /></p>

<p data-end="1556" data-start="1196">The apartment mix includes 10 two-bedroom apartments, six of which are loft-style homes across the lower levels, and 17 three-bedroom apartments, targeting owner-occupiers and downsizers seeking larger configurations in an established inner-city suburb. Vehicle access is proposed via the rear laneway, with parking provided across two basement levels.</p>

<p data-end="2043" data-start="1558">According to the planning report, the project is intended to be a “contextually driven response that will sit comfortably in the established streetscapes of Rae and Alfred Street,” with the built form carefully scaled to respect neighbouring heritage buildings. Upper levels are stepped back and articulated to reduce visual bulk, while materials including brick, rendered concrete and green tile have been selected to reference the area’s industrial and residential character.</p>

<p data-end="2043" data-start="1558"><img alt="JMSN" data-entity-type="file" data-entity-uuid="4b243f1b-d7ae-420b-812b-c103d36a4cd3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-17%20at%2011.36.59%E2%80%AFAM.png?VersionId=qcPl6Z_0Nc9FeWaAPuAFIATO1d4iQfkb" /></p>

<p data-end="2428" data-start="2045">The design was workshopped extensively with the Office of the Victorian Government Architect under the state’s Great Design Fast Track process, aligning with the seven published design principles. The report notes the development will achieve an average 8-star NatHERS rating, with a strong focus on natural ventilation, thermal comfort and low ongoing operational costs.</p>

<p data-end="2745" data-start="2430">Communal amenity is centred around a 218 sqm ground-floor courtyard, complemented by landscaped breezeways and seating throughout the building. Landscape architecture by Vivid Green extends into the public realm, with new planting and additional bicycle infrastructure proposed along Rae and Alfred streets.</p>

<p data-end="3043" data-is-last-node="" data-is-only-node="" data-start="2747">The planning report added the project will “rectify the industrial legacy of the existing building and release much-needed sustainable housing” in an area undergoing significant infill development, while maintaining a respectful relationship with Fitzroy North’s valued heritage context.</p>

<p data-end="3043" data-is-last-node="" data-is-only-node="" data-start="2747">The next project to launch in Fitzroy North will be <a href="https://www.apartments.com.au/new-apartments/edison-north-fitzroy-197-205-st-georges-road-fitzroy-north-vic-3068">Edison</a>, just 17 apartments designed by Austin Maynard Architects on St George's Road.</p>


JMSN plots second Fitzroy building after topping out debut Melbourne project

<p>Australian developer <a href="https://www.apartments.com.au/developers/homecorp">Homecorp</a> has officially launched its $210 million Florence Residences to the market, as demand for coastal and wellness-inspired living across the Gold Coast continues to surge.&nbsp;</p>

<p>Soaring 26-storeys above Cascade Gardens, <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">Florence Residences</a> will deliver 120 homes paired with a private residents’ only wellness club.</p>

<p>Recent findings from the Global Wellness Institute reveal Australia now ranks fourth globally for wellness real estate, with a third of the country’s wellness market growth coming directly from residential development, making it one of the fastest-growing segments in the sector.&nbsp;</p>

<p>Discerning buyers are increasingly seeking homes that prioritise wellness amenities, connection and lifestyle, a trend born post-pandemic that reflects a renewed focus on living well, not just living comfortably.&nbsp;</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=357949]</p>

<p>“The Gold Coast’s next era of luxury living has arrived and it is putting wellness and community at the centre of design,” said Ron Bakir, CEO and Founder of Homecorp.&nbsp;</p>

<p>“Buyers are looking for a sanctuary - a home that feels like an escape from the everyday, a place to unwind, recharge and connect. At Florence Residences, we have created exactly that: a community where architecture, lifestyle and wellness converge. It is a design philosophy that embraces natural materials, biophilic design and a sense of revitalisation, setting a new benchmark for coastal living on the Gold Coast.”</p>

<p>Florence, inspired by its namesake Italian city,&nbsp;introduces a holistic lifestyle destination within one of the city’s most exclusive coastal and park-side enclaves. Beyond each residence lies a world dedicated to wellbeing and connection, featuring a resort-style rooftop pool, hot and cold plunge pools, spa retreat, state-of-the-art gymnasium, and a yoga and Pilates studio.</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=357946]</p>

<p>The project will also boast social and community-focused spaces, including a resident-only lounge with private dining and a rooftop bar, premium outdoor entertaining areas, a striking hotel-style lobby lounge, generous bike parking, and pet-friendly perks including a heated dog wash.</p>

<p>“Florence Residences has been designed as a home for the future, one that will truly stand the test of time. A place that can be passed down through generations, in a city where lifestyle never compromises. Here - health, longevity and luxury exist in perfect balance,” Bakir added.</p>

<p>Early site works are set to commence in the coming weeks, with construction scheduled to begin in early 2026 and completion anticipated by late 2027.</p>

<p>Prices will begin from $1,249,000.</p>

<p>[smartcode_project_cta:default project_id=150414]</p>


Homecorp launches $210 million Florence Residences as demand soars for wellness-inspired living on the Gold Coast

<p>Life in <a href="https://www.apartments.com.au/developments/fitzroy-vic-3065">Fitzroy</a> moves at a distinctly local rhythm - a neighbourhood where cafés open early, parks fill steadily, and everything from art to groceries is found within walking distance.&nbsp;</p>

<p>At the centre of this tightly knit urban fabric, just 150 metres from Brunswick Street’s café's and retail spine, this new address offers direct access to the suburb’s defining amenities while maintaining a sense of residential calm.</p>

<p><a href="https://www.apartments.com.au/new-apartments/napier-235-fitzroy-235-napier-street-fitzroy-vic-3065">Napier 235</a>, a boutique development from <a href="https://www.apartments.com.au/developers/romano-property-group">Romano Property Group</a>, introduces 14 north-facing residences into one of Melbourne’s most walkable and richly layered enclaves. Surrounded by iconic eateries, leafy gardens, and essential daily services, it situates residents within the full spectrum of Fitzroy’s cultural, culinary, and lifestyle offerings - all just two kilometres from the CBD.</p>

<p>[smartcode_project:default project_id=144904 project_image_fid=3219]</p>

<p>The immediate surroundings read like a curated guide to Melbourne’s culinary highlights: Bentwood café and the Napier Hotel, both local institutions, are just metres from the doorstep. Some of the city’s most acclaimed eateries are within a five to ten minute radius - Marion, Cutler &amp; Co, Lune Croissanterie, Alimentari, and Bar Rosella, to name a few. These venues sit alongside celebrated casual options like Hector’s Deli and Archie’s All Day, offering residents a diverse and constantly evolving dining experience.</p>

<p>For food shopping and specialty retail, the area continues to deliver. Morning Market and Gertrude Grocer offer curated produce and pantry goods, while Meatsmith, The Source Bulk Foods, and Gram Sustainable cater to conscious consumers.&nbsp;</p>

<p>National retailers including Coles and Woolworths ensure grocery needs are met with ease, and boutique outlets like Aesop, Le Labo, and Glou Wine Bar &amp; Shop add texture to the local retail mix.</p>

<p>[smartcode_project:default project_id=144904 project_image_fid=3216]</p>

<p>Public green space is one of Fitzroy’s defining attributes, and Napier 235 is perfectly positioned to take advantage of this. Carlton Gardens and Fitzroy Gardens provide expansive, historic parklands within walking distance.&nbsp;</p>

<p>Edinburgh Gardens, popular with locals for its open lawns and sporting facilities, is also easily accessible. Fitzroy Swimming Pool and the leafy surrounds of the Melbourne Museum further enrich the recreational landscape, while the Melbourne Cricket Ground offers a pedestrian-accessible connection to the city’s sporting calendar.</p>

<p>Transport connectivity is embedded into the daily rhythm of the suburb. Tram access on nearby Brunswick, Smith, and Nicholson Streets provides direct links to the CBD and broader inner-north. Meanwhile, major arterials such as Victoria Parade and Alexandra Parade support quick access by car or bicycle.&nbsp;</p>

<p>[smartcode_project:default project_id=144904 project_image_fid=3217]</p>

<p>Despite this rich offering, Napier Street itself remains a quiet, tree-lined corridor within Fitzroy’s residential grain, providing a sense of retreat from the surrounding activity. This balance of vibrancy and seclusion underpins the appeal of Napier 235, designed by Ewert Leaf with landscape by Florian Wild.&nbsp;</p>

<p>Each residence offers large private terraces and generous internal layouts that connect with the outdoors, while sustainability credentials place the project in the top five per cent of Victorian developments under current planning policy benchmarks.</p>

<p>Construction at Napier 235 is set to commence in Q1 2026 with&nbsp;<a href="https://www.apartments.com.au/builders/ag-constructions">AG Construct</a>. Two-bedroom residences are priced from $1,225,000.</p>

<p>[smartcode_project_cta:default project_id=144904]</p>


Napier 235 taps into Fitzroy’s lifestyle fabric

Housing Loans

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<div>
<span style="line-height: 1.3em;">APRA </span><span style="line-height: 1.3em;">released</span><span style="line-height: 1.3em;"> its latest property exposures figures for the June 2015 quarter today, which confirmed an ongoing surge in new housing loans. </span>
</div>
<div><span> </span></div>
<div><span>As at June 2015 the total of residential term loans to households held by all institutions (ADIs) was $1.33 trillion. </span></div>
<div><span> </span></div>
<div><span>In total this represented an increase of +$31.8 billion (+2.4%) from the prior quarter, and a solid increase of +$97.1 billion (+7.9%) over the year to June.</span></div>
<div><span> </span></div>
<div><span>There were a total of 5.4 million loans outstanding, with an average balance of $243,000.</span></div>
<div><span> </span></div>
<div><span><strong><span style="text-decoration: underline;">Investment loans surging higher</span></strong></span></div>
<div><span> </span></div>
<div><span>Investment loans totalled $518.3 billion, an increase of +$17.7 billion (+3.5%) from the March quarter and massive +$81.1 billion (+18.6%) from one year ago.</span></div>
<div><span> </span></div>
<div><span>That's huge, and well ahead of the rate that the regulator would or should be comfortable with.</span></div>
<div><span> </span></div>
<div><span>Interestingly while loans held by the major banks increased by +7.5% over the past year to $1,076 billion, loans held by other domestic banks increased by a much faster +18.8% pace to $155 billion.</span></div>
<div><span> </span></div>
<div>The major banks still accounted for close to 80 per cent of the domestic new housing loan market, however, with the remainder of the market comprising other banks, credit unions and particularly building societies.</div>
<div><span> </span></div>
<div>
<span>It should be noted that there have been a few issues relating to the reclassification of loans between owner-occupied and investment loans, with material revisions (&gt;10%) pushed through for the September 2014 to March 2015 quarters relating to ANZ and National Australia Bank.</span><br><span><br></span><span>You can see the jump in the chart below. </span><br><span><br></span><span>This has had the impact of accentuating the rate of increase in investment loans while dampening the growth in owner-occupier loans. </span>
</div>
<div><span> </span></div>
<div><span>In any case the trend in <strong>total </strong>loans outstanding since March 2008 has been more than clear, with total residential term loan exposures captured by this data more than doubling over that time.</span></div>
<div><span> </span></div>
<div><span>This is at least partly because the investor segment of the market often opts to amass new debt rather than paying loan balances down, particularly because Australia has prevailing tax legislation which encourages this behaviour.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/08/26/APRA1.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/08/26/APRA1.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>The data revealed that the overwhelming majority of new housing loans in the quarter at 89.3 per cent of new loans were of a loan to value ratio (LVR) of 90 per cent or lower. </div>
<br><div>As denoted by the pink area in the chart below there has been a surge in the number of borrowers using 20 to 40% deposits, now accounting for more than half of new housing loans in the last quarter.<br><br>This may imply that "cashed up" property owners with deep pools of equity are buying investment property at the expense of first time buyers who must save their deposits. </div>
<div> </div>
<div>More than one fifth of new loans in the quarter had a very low loan to value ratio of just 60% or lower.</div>
<div> </div>
<div><a href="/images/2015/08/26/APRA2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/08/26/APRA2.jpg" alt=""></div>
<div> </div>
<div>
<div>Higher risk "low doc" loans continued to represent only a tiny fraction of the Australian mortgage market in the June quarter at 0.4 per cent.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Market risks</span></strong></div>
<div> </div>
<div>With very few low doc loans written and the overwhelming majority of loans being written with deposits ranging from 10 to 40 per cent, where lies the risk?</div>
<div> </div>
<div>After all, it is hardly as though the market is highly leveraged in aggregate with aro<span>und <span>~</span>$1.4 trill</span>ion of debt sitting against a stonking $6 trillion residential housing market.</div>
<div> </div>
<div>For my money, in terms of the residential mortgage market the answer is that the risk lies in the very high percentage and concentration of interest only loans, whereby typically no repayments are made against the principal in the first five years. </div>
<div> </div>
<div>It is true that loans with offset facilities are continuing to flourish, but nevertheless a whopping 45.8% of new housing loans written in the June 2015 quarter were of the interest only variety.</div>
<div> </div>
<div>Although only 4% of new housing loans in the June quarter were written outside serviceability, it would not be a surprise to see APRA looking more closely at the elevated percentage of interest only loans with renewed interest.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
<div> </div>
</div>
</body></html>

pwargent-M4siyDbqQY

Investment loans power on: Pete Wargent

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>Housing conditions were strong up until the end of February, the last of the pre-Coronavirus data series showed. </div>
<div> </div>
<div><span style="font-size: 12.16px;">Total housing lending was fairly steady at $19.5 billion, representing an increase of +13.1 per cent from a year earlier, mainly driven by homebuyers. </span></div>
<p><span style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-Tj7kB74Cv28/Xo048SI75LI/AAAAAAAA1Jg/s4CFqoIWW4gX7Mo97meC-8FgegCjW6M7wCNcBGAsYHQ/s640/HF2.jpg" width="640" height="366" data-original-height="824" data-original-width="1440"></span></p>
<p><span>First homebuyer commitments rose to the highest level since 2009.</span></p>
<p><br><img src="https://1.bp.blogspot.com/-7d99RZVWWZM/Xo048PZtQVI/AAAAAAAA1JY/mkyCDs4_KPUAmZJBb1bFWbRLACAWaY3awCNcBGAsYHQ/s640/HF3.jpg" width="640" height="378" style="font-size: 12.16px;" data-original-height="828" data-original-width="1398"></p>
<div>At the state level, homebuyer loans (ex-refi) in Queensland and Western Australia were strong, while New South Wales and Victoria saw a partial retracement, although volumes in these states remained +15 per cent and +20 per cent higher than a year earlier respectively.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-Kiyhs8_oEo4/Xo048QGK6oI/AAAAAAAA1Jc/2-ANgNnHLDsVHpZypHKAfi0zxh4AET7kQCNcBGAsYHQ/s640/HF1.jpg" width="640" height="380" data-original-height="829" data-original-width="1392"></div>
<p><span style="font-size: 12.16px;">For home buyers purchasing existing dwellings the average loan size was steady at a near-record high.</span></p>
<div class="separator"><img src="https://1.bp.blogspot.com/-_n553QTxyPs/Xo049K_1vkI/AAAAAAAA1Jk/ubZ9VV4Y3DUgx9yKI7xSyX2DLjkbaiB5QCNcBGAsYHQ/s640/HF4.jpg" width="640" height="382" data-original-height="818" data-original-width="1369"></div>
<p><span>There was some variation around the states, partly impacted by refinancing activity.</span></p>
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<strong>The wrap</strong><br><br>Overall, lending volumes were considerably stronger than a year earlier up until February 2020, but transaction activity is now expected to drop sharply through March and April as movements are restricted. </div>
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<strong><br class="Apple-interchange-newline">PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
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j.ballantyne1990-6AQqhLzZaK

Housing loans declined slightly in February: Pete Wargent

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<p>The May 2020 Lending to Households and Business figures released today by the Australian Bureau of Statistics show the largest monthly fall in the history of the series with the value of loans for housing falling by 11.6 per cent in seasonally adjusted terms.</p>
<p>The fall is not unexpected with feedback from agents during May, as restrictions on movements throughout the month were in place and a general air of caution about the economy and its impact on activity in the housing market prevailed, suggesting that this would be the case.</p>
<p>The fall was driven by large reductions in the value of loan commitments for housing in New South Wales and Victoria and contributed to the yearly fall of 7.3 per cent. Smaller falls were reported for all other states except ACT.</p>
<p>The value of new loan commitments for investor housing fell 15.6 per cent for the month and 11.9 per cent for the year - again driven by Victoria and New South Wales.</p>
<p>New loan commitments for owner occupier first home buyers fell by a similar proportion to the overall fall in owner occupier commitments for dwellings with a fall of 10.5 per cent by value for the month in seasonally adjusted terms but a 19.3 per cent increase for the year.</p>
<p>NSW and Queensland drove the fall in the number of loan commitments for owner occupier first home buyers with all other states except ACT recording falls.</p>
<p>While reduced transactions in the housing market stifled new loan activity in May, the markets have held up through a low level of supply. A situation that is continuing in the larger markets.</p>
<p><strong>Adrian Kelly</strong><em> is the President of the Real Estate Institute of Australia. </em></p>
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May housing finance shows a historical fall: REIA's Adrian Kelly

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<p>The Australian Prudential Regulatory Authority has released a proposal that will require banks to differentiate risk weightings for residential mortgages.</p>
<p>It could potentially increase the cost of writing higher-risk loans.</p>
<p>The proposal seeks changes to the risk weightings banks should apply to owner-occupier, investor, interest-only and non-standard loans.</p>
<p>The paper noted APRA's view that there are "potential systemic vulnerabilities" to the financial system created from high levels of residential mortgages lending for investment purposes.</p>
<p>The Australian Broker news website reported ANZ and Westpac Group had introduced confidential changes to their assessment and approval of borrowers.</p>
<p>ANZ was adjusting the discretion available for its frontline mortgage assessors.</p>
<p>A spokesman for ANZ said the bank recently added "a higher level of approval for some discretions" used in its home loan policy for assessing serviceability.</p>
<p>Mortgage brokers claim banks seem to be showing less flexibility in interpreting guidelines on such matters as irregular income when assessing loan applications, BrokerNews advised after a report in the <em>AFR</em>.</p>
<p>The report also said that Westpac recently introduced strict tests of residential property borrowers' current and future capacities to repay their loans.</p>
<p>The change is said to be intended to identify scenarios that might affect borrowers' capacity to pay back their loans. These include having dependents with special needs that might require borrowers to spend on long-term care and treatment.</p>
<p>When asked for comment, a Westpac spokesperson told <em>Australian Broker </em>that the <em>AFR</em> report was based on a note the bank sent to brokers on Monday (12 February).</p>
<p>Earlier this month, Westpac amended its borrowing terms, including allowing the use of desktop valuations only for a maximum LVR of 90%.</p>
<p>A Westpac spokesperson told <em>Australian Broker </em>that the bank has also updated its household expenditure measure in line with the benchmark published by the Melbourne Institute for Social and Economic Research.</p>
<p>This followed Westpac's announcement in December that it would require home loan borrowers to disclose what they owe on short-term buy-now, pay-later loans on digital credit platforms like AfterPay and ZipPay. </p>
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High risk home loans targeted by APRA

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<p><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/2017/05/04/ratecity-logo.jpg" alt="" width="661" height="177"></p>
<p>SPONSORED POST</p>
<p>Don’t make the mistake of setting your mortgage and forgetting about it for the next 25 years – because it could cost you dearly.</p>
<p>One obvious <a href="https://www.ratecity.com.au/home-loans/refinancing-home-loans?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">benefit of refinancing</a> is that it gives you the chance to switch to a cheaper rate. Don’t forget, home loans are always changing, so even if you got the cheapest rate when you took out your mortgage, there’s a good chance that’s no longer the case.</p>
<p>Another benefit of refinancing is that it could allow you to access more flexible repayment terms, unlock equity to fund an investment property and consolidate a range of debts.<span style="font-size: 12.16px;"> </span></p>
<p>RateCity has made it easy to change lenders with its <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>. Here are the top five reasons to take part:</p>
<p><span style="text-decoration: underline;">1. Change to a cheaper home loan</span></p>
<p>Refinancing into a cheaper mortgage makes obvious sense. However, sometimes people don’t realise how much money they could save.</p>
<p>Imagine you had an interest rate of 4.25 per cent on a $400,000 mortgage that you were repaying at the rate of $2,500 per month. If you switched to a rate of 4.00 per cent and left your monthly repayments unchanged, your loan term would be reduced from 19 years and nine months to 19 years and two months. That would allow you to eliminate seven months of repayments, for a $17,500 saving.</p>
<p><span style="text-decoration: underline;">2. Change to a better home loan</span></p>
<p>Another advantage of refinancing is that it can allow you to move to switch to a more flexible mortgage.</p>
<p>That could allow you to access new features such as an offset account, a redraw facility, the ability to make extra repayments or even the ability to take a repayment holiday. You could also move to a fixed rate or move to a variable rate or move to a loan that is half and half.</p>
<p><span style="text-decoration: underline;">3. Unlock equity to fund an investment property</span></p>
<p>In certain circumstances, refinancing your home will allow you to access extra funds that you could then use as a deposit on an investment property.</p>
<p>To unlock extra equity, you need to get a new valuation on your home when you refinance, and that new valuation needs to be higher than the old one.</p>
<p>Imagine you originally borrowed $400,000 to purchase a $500,000 property – that would have given you a loan-to-valuation (LVR) ratio of 80 per cent. Now imagine you’ve since reduced your mortgage to $370,000 while the value of your home has risen to $550,000 – that would give you a new LVR of 67 per cent.</p>
<p>If your new lender allows you to increase your LVR to 80 per cent, you could increase your mortgage from $370,000 to $440,000. That extra $70,000 could then be used as a deposit on an investment property.</p>
<p><span style="text-decoration: underline;">4. Unlock equity to fund other expenses</span></p>
<p>Of course, there are other ways you could spend that hypothetical $70,000 mentioned above. You could use it to fund value-adding renovations. You could use it to replace your old car. Or you could put it into an offset account and spend it several years in the future.</p>
<p><span style="text-decoration: underline;">5. Consolidate debt</span></p>
<p>Imagine you were currently paying off a $370,000 mortgage at 4.25 percent, a $25,000 personal loan at 9.75 percent and a $15,000 credit card debt at 16.50 percent.</p>
<p>A new lender might allow you to refinance those three debts into a single $410,000 mortgage. Even if your new home loan was still priced at 4.25 percent, this sort of consolidation would not only make your life simpler, it would also allow you to repay the personal loan and credit card at a much cheaper rate.<span style="font-size: 12.16px;"> </span></p>
<p><span style="text-decoration: underline;">Refinancing made easy</span></p>
<p>RateCity is simplifying the refinancing process with its <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>, which will give borrowers access to market-leading rates.</p>
<p>Borrowers who are with ANZ, Commonwealth Bank, NAB or Westpac could save up to $39,000 over 15 years by switching through the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.</p>
<p>RateCity arrived at that figure after calculating how much borrowers would save if they switched from an average-sized mortgage from the average discounted variable rate offered by one of the big four banks to the lowest variable rate in the <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_article4&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969009" target="_blank">Switch &amp; Save Sale</a>.</p>
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jchancellor-FAypfDUnLy

5 reasons you must refinance your home loan: RateCity

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<p>GUEST OBSERVER</p>
<p>Private sector credit rose by 0.3 percent in February after a 0.2 percent gain in January. Annual credit growth of 5.0 percent is near 3-year lows.  </p>
<p>Investor housing: Investor housing finance lifted by 0.6 per cent in February to stand 6.7 per cent higher over the year – the fastest growth in 12 months.  </p>
<p>China data: The National Bureau of Statistics manufacturing purchasing managers’ index rose from 51.6 to 51.8 in March while the services gauge rose from 54.2 to 55.1 – a near 3-year high.  </p>
<p>What does it all mean?</p>
<p>The latest lending (private sector credit) figures suggest a subdued borrowing environment. But it is important to point out that lending recorded the biggest lift in 15 months in December and only partially gave back some of that out-sized growth over January and February. The subdued February reading was largely due to a modest slide in business credit which would be expected given the out-sized gain in December. The key will be how business borrowing performs in coming months.  </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%208.47.27%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%208.47.27%20AM.png" alt=""></p>
<p>Interestingly home lending continues to lift, dominated by investor credit growth. In fact annual growth in investor finance is now at a 12-month high. The measures taken over the last couple of year by regulators to curb investment lending had a temporary impact that has faded. And as such it is no surprise that the regulators have today looked at other avenues to tighten lending standards.  </p>
<p>The measures announced by APRA today are designed to keep modest pressure on the brakes of investor home lending rather than represent a slamming on the brakes. Annual growth of investor lending still remains comfortably below the 10 per cent annual growth limit although new lending has been lifting in recent months. Anecdotally the lift in interest rates on investor housing loans is already acting to slow interest in home buying.  </p>
<p>The stronger Chinese manufacturing and services data bodes well for the broader global economy. And given the strong trade links between Australia and China, policymakers would be encouraged by a strengthening Chinese economy.  </p>
<p>No doubt policymakers will continue to discuss key issues like housing affordability, but overall the central bank seems upbeat on the medium-term outlook for the Australian economy. CommSec expects no change to interest rates over the rest of 2017.  </p>
<p>What do the figures show?  </p>
<p>Private sector credit  </p>
<p>Private sector credit (lending) rose by 0.3 per cent in February after a 0.2 per cent gain in January. Annual credit growth eased from 5.4 per cent to a near 3-year   low of 5.0 per cent.</p>
<p>Housing credit grew by 0.6 per cent in February to be up 6.4 per cent on a year ago – annual growth is lifting of the lowest levels in 30 months.  </p>
<p>Owner occupier housing credit rose by 0.5 per cent in February to stand 6.2 per cent higher than a year ago – the slowest growth in 17 months. Investor housing finance lifted 0.6 per cent in February to stand 6.7 per cent higher over the year – the fastest growth in 12 months.  </p>
<p>Personal credit fell by 0.1 per cent in February to be down 1.3 per cent over the year – just up from the 1.4 per cent annual decline in January, which was the biggest annual decline in 41⁄2 years.  </p>
<p>Business credit fell by 0.1 per cent in February after a 0.4 per cent fall in January and 1.1 per cent rise in December. Business credit is 3.7 per cent higher than a year ago – slowest growth in 21⁄2 years.  What is the importance of the economic data?  </p>
<p>Private sector credit figures are released by the Reserve Bank on the last working day of the month. Credit is separated into three categories – housing, other personal and business. Private sector credit is effectively the amount of loans outstanding in the economy. If growth in lending is strong then it suggests that credit from financial institutions is freely available, underlying demand for assets such as cars and houses is firm and that the price of credit (interest rates) is attractive.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%208.46.29%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%208.46.29%20AM.png" alt=""></p>
<p>What are the implications for interest rates and investors?</p>
<p>The Chinese economic data remains encouraging, showing that the transition from the industrial sector to household sector remains on track. The manufacturing sector is expanding, while the services sector is clearly the driver taking up any slack.  </p>
<p>Interest rates are super-low but credit growth is slowing rather than rising. Excluding investor housing, demand for loans is modest. Consumers and businesses are still keen to pay down debt rather than take up new credit.  </p>
<p> Interest rates will remain on hold over the rest of 2017.  </p>
<p><em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em></p>
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Investor lending dominates borrowings: CommSec's Savanth Sebastian

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<p>The level of delinquent housing loans for prime residential mortgage-backed securities increased 1.29 percent in January from December's 1.15 percent, according to S&amp;P Global Ratings.</p>
<p>The category for mortgages 31-60 days in arrears showed the largest increase.</p>
<p>The report said the magnitude of the month-on-month increase in January 2017 was higher than in previous months.</p>
<p>"While some of the increase is due to a decline in outstanding loan balances, the category for mortgages 31-60 days in arrears showed the largest increase," the report found.</p>
<p>"This suggests more borrowers have fallen behind on their loan repayments for the first time.</p>
<p>"The major bank and regional bank sectors recorded larger increases in borrowers who are 31-60 days behind on their mortgage repayments.</p>
<p>"All originators except nonbank financial institutions recorded an increase in arrears in January compared with the previous month.</p>
<p>"Despite the increase, arrears levels in January remained close to long-term averages."</p>
<p>"Mortgage arrears rose in every state and territory in January from the previous month.</p>
<p>"Among the states, South Australia recorded the largest increase in arrears, rising to 1.81 percent from 1.53 percent in December, Home loan arrears in Western Australia rose to 2.33 percent in January from 2.10 percent in December.</p>
<p>"Arrears rose month on month in January to 1.03 percent in New South Wales and 1.18 percent in Victoria."</p>
<p>The report can be found at <a href="https://www.sfsurveillance.com.au/" target="_blank">https://www.sfsurveillance.com.au</a>.</p>
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Home loan delinquencies rise in January

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<p><span>Dwelling value growth increase in Sydney and Melbourne is substantially higher than any other capital city, according to CoreLogic head of research Cameron Kusher.</span></p>
<p><span>He said the </span><span>current housing market growth phase has really been all about Sydney and Melbourne. </span><span><br></span></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/23/Screen%20Shot%202017-02-23%20at%202.04.38%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="https://www.urban.com.au/images/2017/02/23/Screen%20Shot%202017-02-23%20at%202.04.38%20PM.png" alt=""></span></p>
<p><span>"The change in capital city dwelling values over the current growth phase began to take off in June 2012," he said.</span></p>
<p><span>"Over this period, only Sydney and Melbourne recorded value rises greater than 21 percent. </span></p>
<p><span>“The </span><span>rise in values has been supported by low interest rates and availability of mortgage finance however, other factors such as localised economic performance, population growth and foreign demand have driven the much stronger growth in Sydney and Melbourne than across the other capital cities.</span></p>
<p>“With the demand focused so much on New South Wales and Victoria, it’s not surprising values in Sydney and Melbourne have increased so much more than in the other capital cities.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/23/Screen%20Shot%202017-02-23%20at%202.05.53%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/02/23/Screen%20Shot%202017-02-23%20at%202.05.53%20PM.png" alt=""></p>
<p>“While steps have been implemented to cool mortgage demand, particularly from investors in Sydney and Melbourne, the data points to the fact that demand is unquestionably, very strong.</p>
<p>“Clearly with interest rates remaining at close to historic lows, further changes will be required in order to slow mortgage demand and dampen the increases in dwelling values being experienced in Sydney and Melbourne.” </p>
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jonathanchancellor-7SQnKwU6yx

New South Wales, Victoria lead capital city dwelling value increase: CoreLogic

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<p>GUEST OBSERVER</p>
<p class="p1"><span class="s1">Australian housing finance approvals to owner occupiers edged up 0.4 percent in Dec, slightly softer than the 1 percent gain expected but with the detail mostly positive.</span></p>
<p class="p1"><span class="s1">Nov’s 0.9 percent gain was tweaked up to 1.3 percent and the number of loans ex refi (“new loans”) posted a solid 2.4 percent gain to be up 0.9 percent/yr.</span></p>
<p class="p1"><span class="s1">Construction-related loans were flat but loans for the purchase of newly built dwellings rose 3.2 percent to be up 11.9 percent/yr – the gain reflecting settlements on ‘off the plan’ purchases of apartments now being completed.</span></p>
<p class="p1"><span class="s1">The value of housing finance approvals to investors dipped 1 percent in the month – a bit softer than might have been expected given the wider market’s strong finish to 2016 (centred on Sydney and Melbourne).</span></p>
<p class="p1"><span class="s1">Despite the dip the value of loans to this segment is still up 20 percent on the lows in late 2015.</span></p>
<p class="p1"><span class="s1">Overall, the numbers suggest more of the pick-up in momentum late in 2016 was from owner occupiers although the resurgence in investor activity still looks to be the prime mover.</span></p>
<p class="p1"><span class="s1"><br></span><span class="s2">Details</span><span class="s1"> </span></p>
<p class="p1"><span class="s1">Owner–occupiers (no.)   0.4%mth, –4.4%yr</span></p>
<p class="p1"><span class="s1">– ex-financing (no.)        2.4%mth, 0.9%yr</span></p>
<p class="p2"><span class="s1">Construction of dwellings (no.)               –0.3%mth, –5.8%yr<br> Purchase of newly built dwellings (no.)   3.2%mth, 11.9%yr     </span></p>
<p class="p2"><span class="s1">Value of loans:</span></p>
<p class="p2"><span class="s1">Owner-occupiers ($bn)   1.3%mth, –3.4%yr<br> Investors ($bn)                 –1%mth, 19.9%yr<br> Total ($bn)                         0.4%mth, 4.6%yr<br> Total ex refi ($bn)             0.8%mth, 10.2%yr</span></p>
<p class="p1"><span class="s1">Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/"><span class="s2">Westpac</span></a>.</span></p>
<p class="p2"><span class="s1"> </span></p>
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