<p>Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.</p>

<p>Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.</p>

<p>The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.</p>

<p><a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.</p>

<p>The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.</p>

<p><img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" /></p>

<p>Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.</p>

<p>"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.</p>

<p>The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.</p>

<p>The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.</p>

<p>Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.</p>

<p>Bakir said the project had been designed to respond to that shift in buyer expectations.</p>

<p>"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.</p>

<p>Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.</p>

<p>Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.</p>

<p>Early site works are underway, with construction expected to commence later this year.</p>


Joel Robinson

Homecorp approved for Budds Beach apartment tower, Lýon Residences

<p>New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.</p>

<p>Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.</p>

<p>Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3823]</p>

<p>Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.</p>

<p>The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.</p>

<p>"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.</p>

<p>"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3826]</p>

<p>The rarity of the development hasn't been lost on prospective buyers, McSweeney says.</p>

<p>For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.</p>

<p>"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."</p>

<p>The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe></p>

<p>A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.</p>

<p>The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.</p>

<p>At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=372542]</p>

<p>The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.</p>

<p>Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.</p>

<p>Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.</p>

<p>"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."</p>

<p>Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.</p>

<p>[smartcode_project_cta:default project_id=28384]</p>


North-facing Swan River views drive demand at Rivière Residences in Applecross

<p>Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.</p>

<p>The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374768]</p>

<p>McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.</p>

<p>"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.</p>

<p>"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374767]</p>

<p>A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.</p>

<p>The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374760]</p>

<p>Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.</p>

<p>Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.</p>

<p>"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."</p>

<p>Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374761]</p>

<p>Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.</p>

<p>"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.</p>

<p>She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.</p>

<p>Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.</p>

<p>Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.</p>

<p>Construction is underway, with completion expected in the second half of 2027.</p>

<p>[smartcode_project_cta:default project_id=143337]</p>


More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

<p>Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.</p>

<p>The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.</p>

<p>"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.</p>

<p>"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”</p>

<p>He said the declaration reflected the rapid progress achieved since acquiring control of the site.</p>

<p>"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."</p>

<p>When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.</p>

<p>"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.</p>

<p>"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."</p>

<p>The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a></em></p>

<p>The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.</p>

<p>Takada previously said the design was driven by a philosophy of integrating nature into the built environment.</p>

<p>"The concept for this development is born from our design approach to naturalising architecture," Takada said.</p>

<p>"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."</p>

<p>Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.</p>

<p>"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.</p>

<p>The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;</p>

<p>The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.</p>


Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

<p>The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.</p>

<p>Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."</p>

<p>That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.</p>

<p>Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297740]</p>

<p>Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.</p>

<p>The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297741]</p>

<p>The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.</p>

<p>Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297735]</p>

<p>Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.</p>

<p>Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.</p>

<p>[smartcode_project_cta:default project_id=144913]</p>


Garden-led design drives buyer demand at Yarraville Green

Investor Loans

<html><body>
<div>It certainly seems that way.</div>
<div> </div>
<div>New South Wales investor loans burned 49 percent higher than a year earlier in January as investors chase Sydney property prices higher.<br><br>
</div>
<div>In Victoria, investor loans were up by 35 percent, with Melbourne dwelling prices also rising. </div>
<div> </div>
<div>On the flip side, the value of investor loans in Western Australia was down by 16 percent year-on-year. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/03/16/A1.jpg" target="_blank">Click to enlarge</a></p>
<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/2017/03/16/A1.jpg" alt=""></p>
<p>In Darwin and the Northern Territory, meanwhile, the value of investor loans has dropped to the lowest level in a decade.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/03/16/A2.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/03/16/A2.jpg" alt=""></div>
<p><br><span>Such can be the reflexive nature of markets.</span><br><br><strong><span style="text-decoration: underline;">Total lending pulls back</span></strong></p>
<div>Overall, January wasn't a particularly strong month for total lending according to the Australian Bureau of Statistics (ABS), with a decline in commercial lending in the month. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/03/16/A3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/03/16/A3.jpg" alt=""></div>
<div class="separator"> </div>
<div>After a recent spike in November - a near record month - total lending pulled back quite sharply at the beginning of 2017.<br><br>In fact, the result for total lending at $67.6 billion was a 5-month low. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/03/16/A4.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/03/16/A4.jpg" alt=""></div>
<p><span>Meanwhile, investors pile into Sydney and Melbourne, fearful of changes being made to legislation.</span></p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
<p><span> </span></p>
</body></html>

pwargent-M4siyDbqQY

Rising prices beget more buyers?

<html><body>
<p>A quick look at half a dozen of the more interesting housing finance slides for January 2018.</p>
<p>Total housing finance increased by +0.7% in seasonally adjusted terms to $33 billion, but was pretty flat in trend terms, with investor loans continuing to decline and owner-occupier lending growing at +7% per annum to fill the breach.</p>
<p>Click here <a href="https://3.bp.blogspot.com/-M24lH5yOIb0/WqdKC1BohRI/AAAAAAAAo3Y/uStoaGTkvc0KHaEzNHMWx4EbCygq9IxBACEwYBhgL/s640/HF4.jpg" target="_blank">to enlarge. </a></p>
<p><img src="https://3.bp.blogspot.com/-M24lH5yOIb0/WqdKC1BohRI/AAAAAAAAo3Y/uStoaGTkvc0KHaEzNHMWx4EbCygq9IxBACEwYBhgL/s640/HF4.jpg" width="640" height="376" data-original-height="812" data-original-width="1377"></p>
<p>January is generally a quiet month due to summer holidays, but first homebuyers continue to be drawn into the market by concessions, now accounting for a market share of 18% in the month. </p>
<p>Click here <a href="https://4.bp.blogspot.com/-ag8KiMutZ-8/WqdLJLhxNrI/AAAAAAAAo4A/3-pDL-QN38ITRbwAKoRjKZRiNWwSYJ3xQCLcBGAs/s640/FHB.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://4.bp.blogspot.com/-ag8KiMutZ-8/WqdLJLhxNrI/AAAAAAAAo4A/3-pDL-QN38ITRbwAKoRjKZRiNWwSYJ3xQCLcBGAs/s640/FHB.jpg" width="640" height="382" data-original-height="818" data-original-width="1367"></p>
<p>While first homebuyers are on average struggling to increase their loan sizes due to serviceability caps and stress-testing at above 7% mortgage rates, established owners have been able to use more leverage. </p>
<p>Click here <a href="https://4.bp.blogspot.com/-ruSrZ6NBTT0/WqdKCqS0GnI/AAAAAAAAo3U/j7Bj1E2K1wI0ovyEfh9IzQ9JT_gqM0PqgCLcBGAs/s640/HF1.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://4.bp.blogspot.com/-ruSrZ6NBTT0/WqdKCqS0GnI/AAAAAAAAo3U/j7Bj1E2K1wI0ovyEfh9IzQ9JT_gqM0PqgCLcBGAs/s640/HF1.jpg" width="640" height="372" style="font-size: 12.16px;" data-original-height="809" data-original-width="1390"></p>
<p>That's especially true in Victoria where the average loan size for non-first homebuyers hit a record high. </p>
<p>Click here <a href="https://1.bp.blogspot.com/-J8LLXGMj_SM/WqdKCR0vYCI/AAAAAAAAo3Q/tt-VaLWXam0tMPaj2XM1cmbUe6deQYlQQCLcBGAs/s640/HF2.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://1.bp.blogspot.com/-J8LLXGMj_SM/WqdKCR0vYCI/AAAAAAAAo3Q/tt-VaLWXam0tMPaj2XM1cmbUe6deQYlQQCLcBGAs/s640/HF2.jpg" width="640" height="380" data-original-height="819" data-original-width="1377"></p>
<p><strong>Surge of completions</strong></p>
<p>A number of indicators have suggested that the Sydney market saw a huge number of dwelling completions in or around the final quarter of 2017, as construction activity now drops back from record highs and a spike in vacancy rates is observed. </p>
<p>The number of finance commitments for new dwellings is coming down off four-decade highs.</p>
<p>Click here <a href="https://2.bp.blogspot.com/-8h3hCJlrxJM/WqdKDkn_fDI/AAAAAAAAo3c/GJx-yaHcc0c2Eq7JbEfbZMNOUrViqXVdQCLcBGAs/s640/HF5.jpg" target="_blank">to enlarge.</a> </p>
<p><img src="https://2.bp.blogspot.com/-8h3hCJlrxJM/WqdKDkn_fDI/AAAAAAAAo3c/GJx-yaHcc0c2Eq7JbEfbZMNOUrViqXVdQCLcBGAs/s640/HF5.jpg" width="640" height="380" data-original-height="801" data-original-width="1342"></p>
<p>New South Wales has seen more new dwellings financed by homebuyers than ever before over a 12-month stretch, underscoring the point. </p>
<p>Click here <a href="https://3.bp.blogspot.com/-k9QfN15EP3s/WqdKEO_HtDI/AAAAAAAAo3g/_20z2zxy8N4Ik_9evFiPhEKP-GPba0g4QCLcBGAs/s640/HF6.jpg" target="_blank">to enlarge.</a></p>
<div class="separator">
<img src="https://3.bp.blogspot.com/-k9QfN15EP3s/WqdKEO_HtDI/AAAAAAAAo3g/_20z2zxy8N4Ik_9evFiPhEKP-GPba0g4QCLcBGAs/s640/HF6.jpg" width="640" height="388" data-original-height="831" data-original-width="1364"><p><strong>The wrap</strong></p>
<p>Overall, if you piece this together with other figures out recently including from APRA, the stats point toward a surge in apartment completions in Sydney, and investor lending being quelled as first homebuyers are increasingly drawn into the market by stamp duty and other concessions.</p>
<p><span>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank">blogger</a><span>.</span></p>
</div>
</body></html>

Investor loans in decline: Pete Wargent

<html><body>
<p>EXPERT OBSERVATION</p>
<div id="post-body-5825783051489187345" class="post-body entry-content">
<div>The most timely JLL report showed that the residential construction pipeline is now shrinking fast on tighter lending criteria for developers and investors.  </div>
<div> </div>
<div>In time this will inevitably lead to tighter rental vacancies, especially as we head into and beyond the traditionally busy Christmas and New Year period, with more Airbnb offerings also set to eat into the rental market through this cycle. </div>
<div> </div>
<div>With the greatest volume of apartment construction through this cycle Sydney and Melbourne will be the last markets to know about the tightening (although when D-Day does come the presently record high population growth in these cities means that the tightening of rentals market may also be felt most acutely).</div>
<div> </div>
<div>We're already hearing more and more stories of failed or delayed settlements, so the slowing in supply could come about sooner than expected. </div>
<div> </div>
<div>The initial impacts will be felt in Hobart, Canberra, Adelaide, and an array of rental markets around regional Australia.</div>
<div> </div>
<div>Indeed, SQM's latest figures showed that rental vacancies had already fallen to the <a href="http://petewargent.blogspot.com/2018/11/lowest-vacancies-since-early-2014" target="_blank">lowest level since 2014</a> by the end of last month, so the process is well underway.</div>
<div> </div>
<div>The HIA forecast today in its National Outlook that housing starts will fall by more than 50,000 from the peak, noting (or lamenting) that:</div>
<div> </div>
<div>'APRA’s restrictions were designed to curb high risk lending practices but we are now seeing ordinary home buyers experience delays and constraints in accessing finance.'</div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-wxY4L0r9wvY/W_H50SPIkUI/AAAAAAAAs8A/nEtQ0ROLbqw-nzYBU5UQ6h7qiDj0VmVbACLcBGAs/s1600/HIA.jpg"><img src="https://3.bp.blogspot.com/-wxY4L0r9wvY/W_H50SPIkUI/AAAAAAAAs8A/nEtQ0ROLbqw-nzYBU5UQ6h7qiDj0VmVbACLcBGAs/s640/HIA.jpg" width="640" height="320" data-original-height="728" data-original-width="1454"></a></div>
<div class="separator"> </div>
<div>Note that all of this is before Labor's proposed changes to negative gearing come about, which were originally designed to slow investor activity in the raging hot markets of 2016. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Arrivals hit record high</span></strong></div>
<div> </div>
<div>The ABS released its arrivals and departures figures for the month of September 2018 this morning, which showed permanent and long-term arrivals rising to 823,090 over the year to September. </div>
<div> </div>
<div>This represents an increase of 6 per cent from a year earlier, and is the highest figure on record for Australia (the equivalent figure around the time of the Sydney Olympics was about 300,000, which is a measure of just how popular migration to Australia has become).</div>
<div> </div>
<div>
<div class="separator"><a href="https://2.bp.blogspot.com/-GgP_6qeACl4/W_IH3qhIk-I/AAAAAAAAs8Q/UA8Qz6OuBs4uLZfomR7yzd6SgnPhAQ3gACLcBGAs/s1600/A1.jpg"><img src="https://2.bp.blogspot.com/-GgP_6qeACl4/W_IH3qhIk-I/AAAAAAAAs8Q/UA8Qz6OuBs4uLZfomR7yzd6SgnPhAQ3gACLcBGAs/s640/A1.jpg" width="640" height="372" data-original-height="796" data-original-width="1364"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
</div>
<div>Short-term arrivals into Australia have also boomed in recent years, rising to a record high of 9.2 million in September. </div>
<div>
<br>Interestingly the growth is no longer being driven by Chinese tourists, with a range of other countries picking up the mantle, including India.<br><br><div class="separator"><a href="https://2.bp.blogspot.com/-9e36O96FObc/W_IIPQ4rEKI/AAAAAAAAs8Y/sauXuXL3M88cp9P4W5h8nuuXZV_WA_JCgCLcBGAs/s1600/A2.jpg"><img src="https://2.bp.blogspot.com/-9e36O96FObc/W_IIPQ4rEKI/AAAAAAAAs8Y/sauXuXL3M88cp9P4W5h8nuuXZV_WA_JCgCLcBGAs/s640/A2.jpg" width="640" height="352" data-original-height="799" data-original-width="1447"></a></div>
<br>Education arrivals were also up by 5 per cent from a year earlier to a record high of 596,400.<br><br><div class="separator"><a href="https://2.bp.blogspot.com/-BeHBJ35BtQ0/W_IKs0Qkn9I/AAAAAAAAs8s/XzTDMdxiWHs0kmY8ed9iJjFEdByWn8HGgCLcBGAs/s1600/Education.jpg"><img src="https://2.bp.blogspot.com/-BeHBJ35BtQ0/W_IKs0Qkn9I/AAAAAAAAs8s/XzTDMdxiWHs0kmY8ed9iJjFEdByWn8HGgCLcBGAs/s640/Education.jpg" width="640" height="374" data-original-height="793" data-original-width="1357"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
</div>
<div>Finally, at the state level short-term arrivals were up by 4 per cent in New South Wales to 3.45 million for the year to September, but growth was stronger in Victoria (up 8 per cent to 2.3 million) and Queensland (up 8 per cent to 2 million).</div>
<div> </div>
<div>
<a href="https://2.bp.blogspot.com/-BQ5Zsf2TBjQ/W_IIrT42XKI/AAAAAAAAs8g/vzjR8vNOBGA1kafBkeVaYabmGUZesD40gCLcBGAs/s1600/A4.jpg"><img src="https://2.bp.blogspot.com/-BQ5Zsf2TBjQ/W_IIrT42XKI/AAAAAAAAs8g/vzjR8vNOBGA1kafBkeVaYabmGUZesD40gCLcBGAs/s640/A4.jpg" width="640" height="358" data-original-height="797" data-original-width="1418"></a><br><br>Queensland was a little flattered here by the <a href="http://petewargent.blogspot.com/2018/04/gc2018hockey" target="_blank">Commonwealth Games XXI</a>, held at Gold Coast earlier this year...although that all seems like a long time ago now!<br><br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><br>Both short- and long-term arrivals hit record highs for the year to September 2018, with accordingly significant implications for housing market demand over the year(s) ahead.<br><br>Australia's visa programme is tilted towards those aged under 30, so there are dramatic implications for rental market demand here as construction slows, as well as pent up demand for entrants to home ownership over the years ahead. </div>
<div> </div>
<div><em>PETE WARGENT 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></div>
</div>
</body></html>

Rental vacancies to tighten: Pete Wargent

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>OK, first things first. </div>
<div> </div>
<div>I am indeed a so-termed vested interest: I would like to see full employment, stronger wages and household income growth, the Aussie economy growing at least at trend or ideally above trend, and I don't want to see the housing market getting zinged unnecessarily. </div>
<div> </div>
<div>Yep, you got me on that one. </div>
<div> </div>
<div>With these formalities out of the way, I saw APRA's latest ADI exposures today described as 'red alert lending data', very 'concerning', a 'loosening' of lending standards, that should be 'ringing alarm bells' to APRA due to lenders 'breaking their own rules', among various other remarks (source: Digital Finance Analytics). </div>
<div> </div>
<div>For the record, while blog-flaming isn't really my bag, I must wholeheartedly disagree on each and every point!<br><br>Whatevs, I'll post a few deets and you can make your own mind up...</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Stock of IO loans plunges</span></strong></div>
<div> </div>
<div>Firstly, the flow of new interest-only (IO) loans in Q2 2018 was a meagre 16.6 per cent of residential term loans, absolutely miles below the initially proposed cap of 30 per cent (and a world apart from the 45.6 per cent record high of Q2 2015). </div>
<div> </div>
<div>With far fewer loans written overall from a year earlier in spite of a strong increase in the Aussie population, this represented a modest increase in percentage terms from the preceding quarter.</div>
<div> </div>
<div>However, the actual number of interest-only loans was some 52 per cent lower than in the corresponding quarter of the prior year - and almost 70 per cent lower than the number written at the peak of IO lending in 2015.</div>
<div> </div>
<div>A 'loosening'? Hardly.<br><br>But even if more IO loans were to be written henceforth I personally don't believe that would be <span>a bad thing.</span>
</div>
<div><span> </span></div>
<div><span>The last thing<span> we need <span>is $½ trilli</span>on of IO</span> mortgages being reset with undue haste - unless you actually want to see the housing market get stiffed, which of course many people do - and some breathing space would surely be welcomed by a portion of existing IO borrowers. </span></div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-tFVWEE8Ibxg/W5kafR9EsAI/AAAAAAAAr3M/i525R8a2Vz0RTipYynJRdMnqcv0vtlPHwCLcBGAs/s640/IO1.jpg" width="640" height="372" data-original-height="803" data-original-width="1377"></div>
<p> </p>
<div>Regardless of your views on that, there was another enormous decline in the stock of IO loans in the June quarter, with IO loan balances outstanding now having plunged some $119 billion lower over the past five quarters. </div>
<div> </div>
<div>The share of IO loans outstanding through June 2018 was thus by some margin at the lowest level across the entire data series at about 29 per cent, down from close to 40 per cent in late 2015. </div>
<div> </div>
<div>Note that these numbers only run to the end of the 2018 financial year; at the current trajectory the share of IO loans will likely be around 26.9 per cent by the end of this month, a figure that was truly unthinkable only last year, and the lowest level in decades. </div>
<div> </div>
<div class="separator"><img src="https://2.bp.blogspot.com/-VvYLsKyPgs4/W5kafal-H0I/AAAAAAAAr3c/Z0gyForrg7IQlC8ki_SD-5ePZVQnPQW_wCEwYBhgL/s640/Io3.jpg" width="640" height="374" data-original-height="801" data-original-width="1367"></div>
<p><br><span>A loosening...very droll.</span><br><br></p>
<div>
<strong><span style="text-decoration: underline;">Less and less and less high-LVR lending</span></strong><br><br>Secondly, in relation to DFA's 'red alert' on lending standards, the loan-to-value (LVR) ratios on new loans have been tightening incrementally for the better part of half a decade now.</div>
<div> </div>
<div>Loan volumes are down, there was a miniscule change in Q2 for the share of new loans written at 80 per cent LVR or above, while loans written above 90 per cent LVR or above have never been as low as they are today since the available records began.</div>
<div> </div>
<div>'Red alert'? You must be having a giraffe, surely - we've literally never seen lending standards remotely like it!</div>
<p> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-myr13CMquKE/W5kafSp7IYI/AAAAAAAAr3I/yRholEdAVYs5ZbZ6AiRGWIEbZtAQeLy0QCLcBGAs/s640/IO2.jpg" width="640" height="368" data-original-height="796" data-original-width="1381"></div>
<div> </div>
<div>Thirdly, low-doc and other non-standard loans are also tracking at the lowest level on record. </div>
<div> </div>
<div>Fourthly, the quarterly flow of new investment loans plunged by the best part of $5 billion year-on-year, so how you conclude a sudden loosening of standards from that I can't fathom (automatic red card for anyone directly comparing volumes from Q1 to Q2). </div>
<div> </div>
<div>And fifthly, a word that is devilishly hard to spell at the best of times, DFA cites loans approved outside serviceability, noting that these should be ringing 'alarm bells' to the regulator.</div>
<div> </div>
<div>Fair suck of the sauce bottle, mate, but this almost certainly represents a timing issue and reflects <em><strong>tighter</strong> </em>lending standards, not looser.</div>
<div> </div>
<div>You can't tell me with a straight face that banks are blithely waving through marginal or borderline applications and then willingly reporting them as such in the current lending environment. Not happenin'.</div>
<div> </div>
<div>'I could go on...', as Jon Culshaw's impersonation of Russell Crowe might drily observe.</div>
<div> </div>
<div>Due apologies for the apparent curtness, but this stuff has a tendency to be uncritically reported by rote, so someone needs to chime in with a few of these inconvenient actualities.<br><br>Much obliged. As you were :-)</div>
</body></html>

Interest-only loans running at 70 per cent down on 2015 peak: Pete Wargent

<html><body>
<div>As promised, a quick look around the traps at where APRA's cooling measures have slowed investor lending the hardest, and where some or all of the hot air is coming out of the investor market.</div>
<div> </div>
<div>New South Wales saw $5.6 billion of investor loans in September 2015, taking activity back down to the breached for the first time in December 2014 - though as I analysed here previously, owner-occupier lending has (apparently) soared to unprecedented heights in recent months, more than compensating for the decline.<br><br><span><span>Macroprudential measures undertaken to cool housing markets will inevitably have some unintended consequences, one of which may be that lenders demanding high returns on target potential borrowers with existing equity, which in a curiously reflexive manner might temporarily skew lending towards markets which have already outperformed through the cycle (i.e. Sydney).</span></span><br><span><span><br></span></span><span><span>That's one to watch for next year, but for now total lending for NSW housing of more than $14 billion in September was the biggest month on record, even if the numbers were somewhat fishy.</span></span>
</div>
<div><span><span> </span></span></div>
<div><a href="/images/2015/11/17/A1-1.jpg" target="_blank"><span><span>Click to enlarge</span></span></a></div>
<div><span><span><img src="/images/2015/11/17/A1-1.jpg" alt=""></span></span></div>
<div> </div>
<div> </div>
<div>It's a near-identical story in Victoria, with a notable decline in investor lending, but a corresponding leap in owner-occupier lending.</div>
<div> </div>
<div><a href="/images/2015/11/17/A2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/17/A2.jpg" alt=""></div>
<div> </div>
<div>
<span>In Queensland the decline in investor lending has been relatively marked from $2.0 billion in March, although there was a slight rebound in September to $1.67 billion. A spirited increase in owner-occupier lending means that total lending has increased moderately over the past year.</span><br><br><span>Queensland's property markets are something of a multi-speed affair, with certain areas of SEQ - such as some sub sub-regions within Brisbane and the Gold Coast - faring relatively well, but many regional markets decidedly in the doldrums. </span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/11/17/A3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/17/A3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Not much in the way of good news to report for Western Australia, with investor lending tailing off sharply in recent months from $1.26 billion in December 2014 to just $0.82 billion in September 2015.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/11/17/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/17/A4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>It hasn't been a great time for the South Australian economy in recent years, with the trend unemployment rate of 7.7% way above the national average of 6.1%, while employment growth has been non-existent for years now.<br><br>Fortunes for the state waned further this week when it was finally confirmed that Arrium will cut 250 jobs from its Whyalla steelworks, with further cuts expected from Alinta.</div>
<div>
<br>Despite the ongoing labour market shock, South Australia is home to a number of relatively affordable property markets after so many years of lacklustre growth.<br><br>As such South Australia is also the one state where investor lending is actually in an uptrend on a 12mMA basis, with the $469 million in investor lending in September representing a solid increase on the prior year equivalent figure of $390 million.</div>
<div> </div>
<div><a href="/images/2015/11/17/A5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/17/A5.jpg" alt=""></div>
<div> </div>
<div><span>The outlook has been looking up for the economy and labour market of Tasmania lately, but a lack of existing equity in the market following no real dwelling price growth for close to a decade appears to have knocked the investor market for six, with volumes declining from a record high $86 million in June to only $60 million in September.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/11/17/A6.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/17/A6.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>The Australian Capital Territory (ACT) continues to meander along, with investor lending pulling back since June here too, declining from a record spike of $224 million to $142 billion.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/11/17/A7.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/17/A7.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<span>Finally, there are no positives at all to draw from this data series for the Northern Territory, where investor lending has all but collapsed over the past year from $122 million to $75 million.</span><br><br><span>With elevated vacancy rates and nose-diving rents, Darwin and other parts of the Top End are heading for a potentially sharp and long overdue property market correction.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/11/17/A8.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/17/A8.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<span>Overall, it has become clear that APRA's cooling measures have worked quickly and effectively, knocking out a good deal of riskier investor lending right across the board.</span><br><br><span>The property markets story for 2016 will largely be of to what extent lenders can push up the market share of owner-occupier loans in order to compensate for the evident decline in investor volumes.</span>
</div>
<div><span> </span></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>
</body></html>

APRA's traps and investor loans: Pete Wargent

<html><body>
<p>NAB has cut the rate on its Base Variable Rate Special Offer for investors to bring the rate down to 3.09% for principal and interest loan repayments and 3.29% for interest only repayments.</p>
<p>These rates are well below the average variable rate investors say they are paying, with a recent Canstar survey finding investors are paying an average rate of 4.06%.</p>
<p><img src="https://www.urban.com.au/images/2020/8/13/NAB%20Investor%20Loan%20rates.JPG" alt=""></p>
<p>Canstar research shows that 16 lenders made cuts to 38 investment variable rates since July 1.</p>
<p>It comes as the latest ABS Lending Indicators data released last week pointed to a 8.1% rise in the value of new loan commitments to investors in June, but still down 6.1% on June 2019.</p>
<p>Canstar’s finance expert, Steve Mickenbecker said this is a sign that the banks are looking to entice investors.</p>
<p><img src="https://www.urban.com.au/images/2020/8/13/NAB%20Investor%20Loan%20rates%20BIG%204.JPG" alt=""></p>
<p>“The housing market has been in the doldrums and new lending to investors in particular is even lagging the owner occupied market, leaving lenders competing hard for the quality business that is available,” said Mickenbecker.</p>
<p>“With new investment demand flat, the race is on for market share of the refinance market, and investors are a tried and tested group being targeted by lenders."</p>
<p>“With investors saying they are paying rates around 4.06%, it’s time they looked at refinancing. The lowest variable rate in the market for investors right now is almost 1.5% lower at 2.59% and the lowest fixed rate is down to 2.29%,” he concluded.</p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

NAB cuts investment loan rates to lowest in Big 4

<html><body>
<p>The Senate Economics Legislation Committee, Canberra have been given some charts which APRA chair Wayne Byres considered was helpful for any discussion on the house mortgage market.</p>
<p> <img src="https://www.urban.com.au/images/2018/3/1/20180301-OpeningStatement-8.png" alt=""></p>
<p>The APRA benchmark of no more than 30 per cent of new lending by Australian banks being on interest-only terms was not overly restrictive for borrowers who genuinely need the form of finance, APRA noted recently.</p>
<p>While roughly 1-in-3 loans granted can still be on an interest-only basis, APRA boss Wayne Byres advised last month that data for the last quarter of 2017 shows that only about 1-in-5 loans were interest-only.</p>
<p> </p>
<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/2018/3/1/OpeningStatement-2.jpg" alt=""></p>
<p>Byres said it had required the major interest-only lenders to establish strategies that incentivise more borrowers to repay their principal.</p>
<p>"The industry has been quite successful in doing so:, and the number of interest-only loans with high LVRs continued to fall to quite low levels.</p>
<p>"All of that is positive for the quality of loan portfolios," he told the A50 Australian Economic Forum dinner.</p>
<p>"While the direction in asset quality is positive, we’re not declaring victory just yet.</p>
<p>"We still want to see that the improvements the industry has made are truly embedded into industry practice.</p>
<p>"And we can modify our interventions as more permanent measures come into play.</p>
<p>"That will include, amongst other things, further strengthening of borrower serviceability assessments by lenders, strengthened capital requirements for mortgage lending imposed by us, and comprehensive credit reporting being mandated by the Government.</p>
<p>"Through these initiatives, we are laying the platform to make sure prudent lending is maintained on an ongoing basis," he said.</p>
<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/2018/3/1/OpeningStatement-3.jpg" alt=""></p>
<p><span>Byres told yesterday's hearing APRA did not have any particular target for house prices.</span></p>
<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/2018/3/1/OpeningStatement-4.jpg" alt=""></p>
<p data-reactid="55">A recent review of the financial sector by the Productivity Commission found the clamp-down on interest-only applications may have actually provided a windfall for the banks and a cost to taxpayers.</p>
<p data-reactid="57">Byres said he wasn't about to challenge the commission's calculation but said its view was oversimplified and believed there were other drivers at work.</p>
<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/2018/3/1/OpeningStatement-5.jpg" alt=""></p>
<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/2018/3/1/OpeningStatement-6.jpg" alt=""></p>
<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/2018/3/1/OpeningStatement-7.jpg" alt=""></p>
<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/2018/3/1/OpeningStatement-8.jpg" alt=""></p>
<p> </p>
</body></html>

Investor Loans

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Investor Loans

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News