<p data-end="205" data-start="95">Display apartments play a crucial role in helping buyers imagine how a space will look and feel once complete.</p>

<p data-end="485" data-start="207">At <a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> in Melbourne, development giant Mirvac has partnered with furniture maker and retailer MCM House to create a fully furnished, full-scale prototype that showcases the proportions, finishes, and design intent of the project’s three-bedroom residences.</p>

<p data-end="758" data-start="487">As an added incentive, purchasers of any two- or three-bedroom apartment can receive up to $50,000 worth of MCM House furniture, allowing them to curate their new home with the same craftsmanship, contemporary design, and aesthetic showcased in the display apartment.</p>

<p><a data-entity-type="file" data-entity-uuid="ae2e947b-2d51-4288-88fa-a35638e3be0f" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.27.26%E2%80%AFAM_1.png?VersionId=T5uSwgtTFwd1m5EdQF1inB.tBDgxqbtZ" /></a></p>

<p data-end="758" data-start="487">Oversized sofas, solid timber dining tables, and relaxed, low-profile seating demonstrate how the space accommodates real furniture, helping buyers clearly visualise how their new apartment could look, complete with pieces that genuinely suit the scale and design of the home.</p>

<p data-end="758" data-start="487">The styling is simple but deliberate, with materials that pick up on the apartment’s natural light and neutral tones, creating cohesion without crowding the space.</p>

<p data-end="758" data-start="487"><a data-entity-type="file" data-entity-uuid="355f10d8-ee75-4546-a42e-4a54abcc806e" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="file" data-entity-uuid="3e0b920b-3f17-47f0-8885-f67697a5f842" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%201.17.07%E2%80%AFPM.png?VersionId=tPcmBls5kt_SLqE2ONXrxgk5SnC1xERs" /></a></p>

<p data-end="1126" data-start="760">Mirvac is now welcoming buyers through the display at The Albertine. Quietly yet conveniently positioned just off St Kilda Road on Queens Road, the development has attracted strong interest from inner-Melbourne and Bayside downsizers, professional couples seeking luxurious low-maintenance living, and design-focused buyers who want proximity to the CBD.</p>

<p>Apartments have been designed by Mirvac's inhouse design team with owner-occupiers at the forefront.&nbsp;The living and dining areas open directly onto a balcony, reinforcing the project’s emphasis on indoor-outdoor flow, while kitchens feature integrated appliances and soft-curve cabinetry which mirror the larger architectural themes at play throughout the building.</p>

<p><a data-entity-type="file" data-entity-uuid="e8f9b371-17e1-4122-a615-074113096135" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.30.16%E2%80%AFAM.png?VersionId=NCYvtMavnE1_YDhX6slAr7g84MWP0Ymp" /></a></p>

<p>The Albertine offers one to four-bedroom residences complemented by exclusive resident-only amenity, including The Circadian Club, a wellness centre with an indoor pool and spa, gym, yoga and Pilates studio, and sauna, as well as The Elysian Room, a private dining space on level 10 with sweeping views across Melbourne.</p>

<p>Mirvac will welcome residents to The Albertine in 2026, having recently celebrated topping out the&nbsp;</p>

<p><a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>&nbsp;recently topped out&nbsp; the topping out of The Albertine, with completion expected in 2026.</p>

<p>To find out more about the generous furniture offer with MCM House, enquire below.</p>

<p>[smartcode_project_cta:default project_id=138659]</p>


Joel Robinson

Mirvac unveils The Albertine display, offering up to $50k in MCM House furniture

<p>Since the pandemic hit Australia, there’s arguably not been a suburb anywhere in the country more popular than Palm Beach. Data from Apartments.com.au showed that from 2020 to 2021, enquiry spiked by 130 per cent, driven predominantly by local and interstate purchasers snapping up luxury beachfront apartments.</p>

<p>While enquiry levels returned to early (though not pre-pandemic) levels in 2022, the appetite for living in the coastal enclave didn’t fade. The dip in enquiry was due simply to supply running out; every development was selling out in record time. Search traffic, one of the clearest indicators of buyer interest that reflects demand beyond available supply, remained as high as when enquiries peaked.</p>

<p>Developers responded quickly. They were snapping up sites left, right, and centre, racing to bring projects to market to meet the ongoing demand. Many of those who benefited from the COVID-induced boom are now back in the suburb again.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is one such developer. Having perfectly timed its entry into the Palm Beach market, Sherpa launched Perspective Two Sea and Perspective 488 at the height of the boom. Perspective 488 sold out in three months, impressive in itself, before the developer went on to sell out Perspective Two Sea, just nine full-floor apartments, in a matter of weeks, with prices ranging between $3.5 million and $4.75 million.</p>

<p>Sherpa has since completed Perspective Nexus, which sold out prior to its recent construction completion, and has just commenced work on <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Amargo</a> on Sixth Avenue, the first project under its new Flourish brand, designed to offer more price-accessible apartments. Already, 85 per cent of Amargo’s apartments have sold, starting from under $600,000, and Sherpa has secured three more sites in the suburb for future projects.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=306037]</p>

<p><a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a>, led by Josh Foote, followed a similar trajectory. Foote delivered Periscope in 2019, then rode the post-COVID boom, selling out Cabana Palm Beach, 30 apartments, in just eight weeks. It was one of the fastest-selling projects on the Gold Coast at the time, with prices ranging from $1.775 million to over $5.5 million.</p>

<p>Foote has now re-entered the Palm Beach market with <a href="https://www.apartments.com.au/new-apartments/retreat-palm-beach-188-jefferson-lane-palm-beach-qld-4221">Retreat Palm Beach</a>, a 56-apartment development on Jefferson Lane, featuring two- and three-bedroom residences, most with butler’s pantries, private outdoor spaces, and curated interior finishes. Prices range from $1.35 million to $3.95 million. Ignite will soon commence construction, having recently brought building capability in-house.</p>

<p>[smartcode_project:default project_id=134965 project_image_fid=1851]</p>

<p>Foote says Palm Beach has transformed dramatically in the last six years. “The buildings we knocked down for Periscope had needles and all sorts falling out of the walls. The units themselves literally had junkies and prostitutes living in them,” Foote recalls. “In many ways, the development in Palm Beach has obviously done the suburb a huge benefit. I feel the planning department could be a little loose now though, and there will be regrets later as it changes so rapidly.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=134965 project_image_fid=1845]</p>

<p>It’s been a little longer between projects for Brisbane-based <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a>, which completed Sable Palm Beach in 2019, shortly before the COVID boom. The developer is now returning with plans for a 14-storey tower featuring 68 apartments and three double-storey townhouses facing Jefferson Lane.</p>

<p>BPG Director Glen Williams, who runs the company alongside Nick Parr, says the duo only develop in locations they love. “I’ve been a part of the Currumbin Surf Club for the last two decades,” Williams says. “We love the southern end of the Gold Coast and are looking forward to bringing more apartments to the area.”</p>

<p>The appeal of Palm Beach has also drawn interstate developers. Sydney-based <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> selected the suburb for its Gold Coast debut, securing a site on Mawarra Street near Palm Beach State High School. The developer is nearing completion of <a href="https://www.apartments.com.au/new-apartments/villea-palm-beach-26-mawarra-street-palm-beach-qld-4221">Villea</a>, a 69-apartment project that will sit above an activated ground plane. Abadeen Founder and Chairman Justin Brown says Palm Beach was a natural choice.</p>

<p>“We recognised an opportunity to introduce our prestigious brand into a location that is absolutely thrumming with demand for high-end living,” Brown says. “Palm Beach is widely regarded as the embodiment of coastal idyll and one of the Gold Coast’s premium lifestyle locations, and we intend to honour that with a collection of contemporary residences that accentuate the area’s appeal.”</p>

<p>[smartcode_project:default project_id=106840 project_image_fid=336441]</p>

<p>Also nearing completion is <a href="https://www.apartments.com.au/new-apartments/elevaire-palm-beach-1409-1411-gold-coast-highway-palm-beach-qld-4221">Elevaire</a>, a 40-apartment project at the northern end of Palm Beach on the Gold Coast Highway. The building includes hot and cold magnesium plunge pools, with remaining apartments starting from just under $1.4 million.</p>

<p>SRQ Projects Director Nicholas Clydsdale, who is marketing both Villea and Elevaire, says Palm Beach continues to top the list for buyers for a number of reasons. “It’s the most accessible beachfront suburb on the southern Gold Coast,” Clydsdale says. “It’s also got the most beautiful beach, bookended by two of Queensland’s most stunning headlands — Currumbin and Burleigh.”</p>

<p>[smartcode_project:default project_id=112941 project_image_fid=216015]</p>

<p>Also joining the Palm Beach boom are Gold Coast locals Tim Gordon and Bruce Mathieson, the duo behind the ultra-luxury Mantaray Residences and Marina at Main Beach’s The Spit. Their project, Elle on Jefferson, designed by Cottee Parker, comprises 58 apartments and a suite of wellness amenities, including a 15-metre lap pool, hot and cold plunge pools, private cabanas, a sauna, steam rooms, and a holistic gym offering cardio, weights, yoga, and Pilates.</p>

<p>[smartcode_project:default project_id=147111 project_image_fid=356658]</p>

<p>Having developed Lyra Hope Island, Sydney and Gold Coast developer Changfa found an affordable pocket for their recently launched new development Corallo, where one-bed apartments start from just $845,000.</p>

<p>The $200 million mixed-use project on the corner of the Gold Coast Highway and Palm Beach Avenue includes ground floor dining and retail and is considered so valuable its developer,&nbsp;<a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=805]</p>

<p><a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>&nbsp;International, Director, David Higgins, said the development’s location, just metres from the beach,&nbsp;influenced the sculptural design by the acclaimed&nbsp;<a href="https://www.apartments.com.au/architects/plus-architecture" target="">Plus Architecture</a>&nbsp;studio.</p>

<p>“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>&nbsp;locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=799]</p>

<p>“The orientation of the apartments captures views of the coastline from&nbsp;<a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217" target="">Surfers Paradise</a>&nbsp;to&nbsp;<a href="https://www.apartments.com.au/developments/currumbin-qld-4223" target="">Currumbin</a>, and the diversity of floor plans and apartment types provide an exceptional level of choice.</p>

<p>“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."</p>

<p>&nbsp;</p>

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<p>&nbsp;</p>


No slowing down Palm Beach as new apartment market takes centre stage, again

<p>Plans have been revealed for the third and final stage of <a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a>’s $3 billion Rhodes Central masterplan, bringing the iconic new town centre closer to completion.&nbsp;</p>

<p>The final tower, <a href="https://www.apartments.com.au/new-apartments/cascade-23-25-marquet-street-rhodes-nsw-2138">Cascade</a>, at&nbsp;23-25 Marquet Street in Sydney’s inner west, will comprise 361 new dwellings, a mix of critically needed affordable housing and multi-generational apartments.&nbsp;</p>

<p>Vibrant retail, interactive public space, an upscale food and beverage offering and an alfresco dining plaza will also be delivered alongside Cascade tower as part of the final stage, which comes off the back of&nbsp;the masterplan’s successful first two stages.&nbsp;</p>

<p>Stage one saw 568 apartments delivered along with the national award-winning Rhodes Central shopping centre, while stage two has delivered a further 673 apartments atop the $85 million Rhodes Recreation Centre.&nbsp;</p>

<p>Officially opened in November 2025 by Mayor Michael Megna, the Recreation Centre was delivered under a Voluntary Planning Agreement with City of Canada Bay Council. It features essential community facilities including a gym, early childhood learning centre, indoor sports courts, and a gymnastics area as well as commercial tenancies and amenities.</p>

<p>Once complete, the five-tower Rhodes Central masterplan will deliver a combined total of over 1,600 new homes for about 3,500 people, along with community infrastructure, retail, dining, and an expansive new public domain and plaza along Marquet Street. A new basement and podium rooftop will connect all five buildings and allow residents to share amenities.</p>

<p><img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="973ae3a2-58e6-4994-8965-ed9332a57e8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Masterplanaerialimage.jpg?VersionId=Mj.mjUQyfh334xG71LQr7wCFu3mmDxnj" /></p>

<p>“We’re now a step closer to realising our vision for Rhodes Central,"&nbsp;said Saul Moran, Development Director – Planning and Design at Billbergia..</p>

<p>"With brand new retail and more public open space, this final stage embodies our commitment to creating connected communities and delivering housing diversity amid Sydney’s housing crisis. It also completes the landmark town centre precinct that has been almost 20 years in the making."</p>

<p>The project sets a benchmark for Transport Orientated Development. It brings life to Billbergia’s vision for a future-focused, liveable urban environment that prioritises amenity, not just density. &nbsp;Overall, it will deliver more than 25,000 sqm in publicly accessible amenity, including Rhodes Central Shopping Centre, Rhodes Recreation Centre, commercial office space and a further 1,200 square metres of retail space in stage three.</p>

<p>“Rhodes has evolved over two decades from a former industrial site into a connected, thriving community," said John Pradel, Partner and Master Plan Lead at SJB.</p>

<p>"Each stage has built on the last, adding not just housing, but the civic and social spaces that make a place truly liveable and allow the community to flourish."</p>

<p><img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="7e96de93-e50a-424f-9de8-7b3d9c2c0f12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BLBG0900_RCSGIII_R02%20Retail%20Laneway%20copy.jpg?VersionId=3TksNisT5iwyBCGhGUvHDtR9aIca9_OQ" /></p>

<p>Ideally positioned adjacent to the 13,000 sqm Rhodes Central shopping centre, stage three will boast an additional 10 per cent of retail space, an upmarket restaurant offering, an open-air dining plaza and an expansive 2,000-square-metre addition to the public domain extending into the retail forecourt.&nbsp;</p>

<p>This new realm will enhance pedestrian connectivity while showcasing an interactive water feature and engaging public art. It has been designed as an active community space and will also feature pop-up civic infrastructure, including a community stage and kiosk for placemaking events.</p>

<p>The residential tower Cascade will comprise 361 apartments over 39-levels, including 72 affordable dwellings. Apartments will be available in a range of floorplans from one to four-bedroom configurations, with a luxe two-storey “skyhouse” spanning the top two levels. Communal viewing decks and gardens with BBQ facilities will crown Cascade’s rooftop, offering expansive views of the Blue Mountains to the West and Brays Bay and Sydney CBD to the East.&nbsp;</p>

<p><img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="814da600-5368-49d3-8fec-025521a4d0e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BLBG0900_RCSGIII_IN01%20Apt%2037.04%20Livingy%20copy.jpg?VersionId=.xA6cpRQLx4kJiQayt3OrydVQ9ReGmXP" /></p>

<p>High-profile architecture firm <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> will design the final stage after winning a design excellence competition in collaboration with Land and Form in September 2024. The Rhodes Central masterplan was originally conceived by SJB in 2005, with the firm subsequently delivering the design for Stages One and Two.&nbsp;</p>

<p>Cascade has a striking design with a slender tower grounded by a four-storey podium. The tower is divided into three forms, with a distinctive silhouette that resembles three fingers. The design optimises amenity and privacy while maximising views towards both Sydney CBD and Homebush Bay.&nbsp;</p>

<p>According to SJB, the project’s design aims to deliver a range of dwelling types, including multi-generational floorplans, catering to emerging needs of the growing population.</p>

<p>Emily Wombwell, Director and Design Lead at SJB, said their concept encompasses a broader site vision that integrates this site with Rhodes Town Centre through a new iconic building and generous public domain.</p>

<p>"Cascade’s design offers a variety of living typologies that cater to a diverse range of existing and emerging demographics. The proposal aims to improve social and environmental connections by creating a safe and welcoming landscape for existing and future communities of Rhodes."</p>

<p>Billbergia has filed a&nbsp;State Significant Development Application (SSDA) for the final stage. Demolition has been completed on site, early works including excavation will begin early 2026, with completion estimated in 2030.</p>

<p>[smartcode_project_cta:default project_id=135080]</p>


Billbergia unveils new Cascade apartment tower with final stage of $3 billion Rhodes Town Centre

<p><a href="https://www.apartments.com.au/new-apartments/veue-grand-at-the-orchards-norwest-15-19-spurway-drive-norwest-nsw-2153">Veue Grand</a>, one of the latest stages to launch within Sekisui House Australia’s $1 billion The Orchards masterplan, is uniquely positioned at the literal and conceptual centre of Norwest’s growing residential precinct.&nbsp;</p>

<p>Surrounded by the evolving green corridors, community amenities and transport links that define this landmark development, Veue Grand stands as a pivotal piece in the masterplan’s broader vision of lifestyle-driven urban renewal.</p>

<p>Comprising 217 apartments spread across two mid-rise buildings of 11 and 18 levels, Veue Grand is the final release in Stage 4 of The Orchards. This centrally located release offers direct access to the project’s expansive parklands, kilometres of cycling and walking paths, and a soon-to-be-thriving village ecosystem. Buyers will also benefit from proximity to Norwest Metro Station, which places Sydney’s Martin Place within a 45-minute journey.</p>

<p>[smartcode_project:default project_id=149249 project_image_fid=333202]</p>

<p>Sales momentum has been immediate. Over $65 million in transactions were secured at launch, including a record-setting four-bedroom penthouse that sold for over $4 million, the highest recorded sale in Norwest to date.&nbsp;</p>

<p>According to David Lee, Sales Manager at <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, this level of demand underscores both the trust in the developer and the appeal of the apartments’ design and positioning.&nbsp;</p>

<p>“We have witnessed strong demand across all apartment types… [and] achieved a record sale, which speaks volumes about both the quality of the product and confidence buyers have in the brand,” he said.</p>

<p>[smartcode_project:default project_id=149249 project_image_fid=333212]</p>

<p>At Veue Grand, layout diversity plays a central role in meeting buyer expectations. One, two, three and four-bedroom apartments have been designed with natural light and open-plan living in mind, with a notable focus on introducing efficient, entry-point two-bedroom, one-bathroom homes. This new typology accounted for nearly a quarter of all initial sales, a clear signal that the project is successfully addressing affordability pressures while maintaining quality standards.</p>

<p>Each residence benefits from full-height glazing, generous balconies, and the surrounding views of landscaped water features, parklands and bushland.&nbsp;</p>

<p>The buildings’ form, designed by <a href="https://www.apartments.com.au/architects/crone-architects">Crone Architects</a>, draws on organic geometry and a muted natural palette, aligning with The Orchards’ broader design language and sustainability goals.</p>

<p>[smartcode_project:default project_id=149249 project_image_fid=333205]</p>

<p>Resident amenity is a key feature of the Veue Grand offering. A dedicated indoor pool, spa, gym, and communal function spaces will be complemented by access to The Orchards’ future community centre and outdoor cinema. These facilities are embedded within an expansive green setting that includes 1.4 hectares of landscaped public space, including a natural creek and dense native planting.</p>

<p>Buyers are not only responding to architecture and amenity but to the promise of lifestyle continuity. Downsizers from within a 10-kilometre radius have shown strong interest in the larger apartments and penthouses, while first home buyers and investors are leveraging recent interest rate shifts to secure stock in one of the Hills District’s most connected neighbourhoods.</p>

<p>With construction already underway and tracking ahead of schedule, Veue Grand is slated for completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=49249]</p>


Staff Writer

Veue Grand takes centre stage at The Orchards, Norwest masterplan

<p>There are few property developers nationally that can boast a workbook like the ASX-listed developer Cedar Woods. With eight apartment buildings under construction across four states, Cedar Woods is well positioned to take advantage of what Managing Director Nathan Blackburne says is a “national shortage of apartments.”</p>

<p>Cedar Woods purposefully has a diversified portfolio of apartments, townhouses, commercial, and residential communities across the country, enabling the business to remain resilient through market cycles and respond to shifting buyer demand.</p>

<p>Blackburne says there is a great shortfall of housing of all typologies, none more so for apartments. He says that is the case particularly in Perth, where the lack of new apartment projects has been particularly acute.</p>

<p>“Perth has been more affected than Melbourne,” Blackburne explains, noting that over the past five years, “very few new apartment projects” have been launched in either city. Historically, apartments made up around 20 per cent of new housing nationally. Cedar Woods estimates that figure has fallen to around 10 per cent today, a gap they believe must close.</p>

<h2>Apartment appeal rebounding as supply shrinks</h2>

<p>There are signs the tide is turning however. Blackburne says buyer apartment sentiment really picked up in mid 2025. “In October we saw our strongest sales month for apartments in Perth.” The buyer demand has driven their Subiaco apartment development, Incontro, to nearly 70 per cent sold. The increased buyer sentiment has strengthened Cedar Woods’ confidence in bringing forward the next apartment project in Western Australia, a three tower development planned for the prime site on Upham Street in Subiaco, adjacent to Incontro.</p>

<p>Demand is being driven by several factors; the lack of new apartments coming to the market, the increased demand with migration far outstripping the aforementioned supply, and the appetite to live closer to the city.</p>

<p>“Over the past three years, Perth’s population has grown by around 250,000 people, while only around 50,000 dwellings have been delivered,” Blackburne says, adding that more than twice that number would be needed just to keep up.&nbsp;</p>

<p>He said that many buyers are being forced to the urban fringe because of the greater supply of land product, but that, Blackburne argues, is pushing the fringe further out and motivating a re-evaluation of the value of inner- and middle-suburb apartments.</p>

<p>Demographic shifts are helping drive this rethink. Cedar Woods is seeing more boomers downsizing, young professionals entering the market, and a rising number of single-person households. There’s also a growing trend of parents buying apartments for teenage children, motivated by fears that housing prices will become out of reach. “It’s not only a strong investment now, but it can serve as a first home when their children move out.”</p>

<h2>National diversification strategy</h2>

<p>Cedar Woods’ strategy is not limited to Perth. Blackburne outlines their aim to diversify by price point, product type, and geography, which “gives us a broad customer base and smoother earnings profile.” Throughout their markets, they’re combining apartments, townhouses, and masterplanned communities, allowing flexibility to pivot toward undersupplied segments as demand evolves.</p>

<p>In Victoria, Cedar Woods is pressing ahead with a major site in Fairfield, just northeast of Melbourne’s CBD, a site which Blackburne says the company has had its sights on for many years. They are planning to deliver three towers with over 300 apartments, with the plans likely to be submitted in early 2026.</p>

<p>Blackburne also expresses optimism about broader inner-Melbourne supply dynamics.<br />
<br />
“While Melbourne’s apartment market is better supplied than Perth’s, and population growth remains strong, Cedar Woods believes the current stock will be absorbed quickly,” Blackburne says, however he warns that policy disincentives remain. “In Victoria … there are quite a lot of obstacles for apartment buyers,” he says, adding that the industry is working with the state government to “remove those barriers” and avert prolonged undersupply.</p>

<p>Cedar Woods has plans on the desks of the VIC Government to develop a 20-storey tower in Southbank, in the heart of Melbourne’s arts precinct. Designed by Rothelowman, the proposed tower will deliver 180 apartments, ranging from studios to three-bedrooms, along with creative amenity space devoted to arts and digital industries, a food and drink tenancy at street level, and a 700sqm recreation deck with indoor lounge space will provide a resident amenity hub.</p>

<p>Blackburne frames the project as a response to Melbourne’s growing undersupply of signature inner-city living. “We saw a thematic: a looming undersupply in inner-Melbourne, particularly in high-quality apartments, and wanted to capitalise on that,” he says. The site’s proximity to the Melbourne Arts Precinct, key tram lines, and Southbank’s cultural fabric makes it especially appealing, Blackburne says.</p>

<h2>Charting the course forward</h2>

<p>On top of the apartment developments underway and planned in Perth and Melbourne, Cedar Woods has a multi-stage apartment development in Brisbane’s Woolloowin, and several years remaining on their masterplanned communities in Williams Landing in Melbourne and Glenside in Adelaide, both of which offer a mix of apartments and townhouses.</p>

<p>Blackburne says the developer has been able to mitigate some of the macro risks currently at play in the new development space, particularly in the construction sector.</p>

<p>“Cedar Woods has been able to make many apartment projects work because of good buying of the raw land in the first place, as well as its strong pipeline of apartment projects, enabling the company to attract builders to build deep, multi-year relationships.”&nbsp;</p>

<p>For Cedar Woods, 2026 is set to be significant, with anticipated approvals and submissions laying the groundwork for fresh apartment supply and multiple launches in 2027.</p>


Cedar Woods ramps up apartment development amid Australia’s deepening housing shortfall

Lending

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<p class="post-title entry-title"><strong>EXPERT OBSERVER</strong></p>
<p class="post-title entry-title">There was an explosion in refinancing in May 2020, taking total lending to owner-occupiers up to record monthly highs.</p>
<div>This will effectively act as a rate cut (or perhaps two) for many of these borrowers.</div>
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<div>But once you strip out the massive surge of 21,227 refinancing approvals there was the expected decline in housing lending, as the economy was largely shut back in May. </div>
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<p class="post-body entry-content"><br>Activity was down pretty much everywhere, as you might reasonably expect.<br><br></p>
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<p class="post-body entry-content"><br>First homebuyer transactions were...down.<br><br></p>
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<div>And the average mortgage size also declined, although borrowing capacity for many borrowers has increased compared to 18 months ago thanks to the salvo of five interest rate cuts, and the average mortgage size was up by some +18 per cent from a year earlier. </div>
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<div>In particular borrowers in Sydney and Melbourne have been flexing their extra borrowing capacity over the past year or so. </div>
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<p class="post-body entry-content"><br><span style="text-decoration: underline;"><strong>The wrap</strong></span><br><br></p>
<div>Overall, once you strip out the huge rip in refinancing there was much less housing lending and transactional activity in May. </div>
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<div>Housing prices have drifted a little lower since rolling over around the end of Q1 2020, but on much thinner volumes, and stock levels have fallen very sharply which has somewhat underpinned prices.</div>
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<div>Naturally the Victorian government now opting for a fresh <em>six-week</em> lockdown is going to lead another wave of local business closures over July and August, which will bring its own downside risks for Melbourne.</div>
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<div>Sydney, on the other hand, is now steadily reopening for business, and most other housing markets have been fairly flat through the COVID shutdown.</div>
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<div>Of course the lending figures are, as always, old news, reflective of historic activity from the end of April to the end of May.</div>
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<div>More timely indicators from the REA Group appear to be relatively upbeat.</div>
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<strong>Pete Wargent</strong> is the co-founder of AllenWargent property buyers and a best-selling author and blogger<strong> </strong>
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Refinancing explodes to record high: Pete Wargent

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<em>60 Minutes</em> was an interesting talking point this week, wherein some American geezer claimed that he "could" have got a 95 per cent mortgage using a "fake income" by pretending to be a "gay couple".<br><br>OK. Given that he didn't actually get a mortgage written, it is a little perturbing how often people choose to believe what random punters say in preference to the actual data, but such is the nature of confirmation bias.</div>
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<br>Household debt is high, no doubt, and some lending has been reckless, particularly in mining towns, but by the same token not everything that is claimed on the internet or elsewhere is true.<br><br>For example, some years ago bearish commentators got sucked in to believing erroneous figures which claimed that an incredibly high percentage of lending was 100 per ent mortgages.</div>
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<br>Of course, the data sources quoted advertised loans rather than actual loans written, a rookie error that surely wouldn't pass the sniff test.<br><br>Another favourite trick is to tap a few notional numbers into a mortgage calculator and use this as "evidence" of irresponsible lending, conveniently neglecting to mention the key words "<strong>may</strong> be able to borrow". Clickbait ahoy!</div>
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<div>It's one of the reasons I write blogs - not to get a readership, mainly just so I can stop annoying my missus by regurgitaing every blasted "fact" that I read in the media and on the internet.<br><br><strong><span style="text-decoration: underline;">APRA exposures data</span></strong>
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<div>Back in the real world APRA released its latest ADI Q4 2015 property exposures data today, which showed that the share of new loans whereby lenders extended a 90 per cent or more loan-to-valuation ratio (LVR) has continued its long and steady decline from more than 18 per cent in the March 2008 quarter to under 10 per cent in the December 2015 quarter.</div>
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<div>The share of loans whereby an 80 to 90 per cent LVR loan was advanced has also declined significantly over the last eight years from 20 per cent to only 14 per cent, meaning that the overwhelming majority of loans see a deposit of 20 per cent or more used. </div>
<div> </div>
<div>I'll just clarify that.<br><br>In aggregate high LVR lending has been in decline for years, while low-doc loans and other non-standard now loans represent just a small and rapidly declining fraction of new loans and total residential mortgage market exposures.</div>
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<div><a href="/images/2016/02/25/APRA2.jpg" target="_blank">Click to enlarge</a></div>
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<div>Within the "big four" major banks 90 per cent plus LVR loans have fallen even more sharply from 21.6 per cent in 2009 to just 9.1 per cent, while 80 to 90 per cent LVR loans have declined from 22 per cent in 2011 to only 14.2 per cent. </div>
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<strong><span style="text-decoration: underline;">Lending shifts to homebuyers</span></strong><br><br>If there is anything suspicious in the APRA figures related to lending standards, I believe it is in the incredibly smooth transition from investment loans to owner-occupier loans. </div>
<div> </div>
<div>The market has barely skipped a beat in recording remarkably similar headline quarterly data while the percentage share of loans conveniently swings from investors to homebuyers. </div>
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<div><a href="/images/2016/02/25/APRA1.jpg" target="_blank">Click to enlarge</a></div>
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<span>Draw your own conclusions from that, but I'd hazard that some of these homebuyers may well be would-be investors sneakily veiled behind a Scooby-Doo mask.</span><br><br><span>The </span><em>60 Minutes</em><span> segment claimed that household debt is "exploding", and indeed the above chart shows that the total stock of outstanding credit has more than doubled since 2008.</span><br><br><span>However, the aggregate of outstanding household debt nearly always rises in an inflationary economy with rising household incomes and a strong population growth.</span><br><br><span>The truth is that after accounting for record high mortgage buffers and offset balances, the figures show that the household debt to income ratio is unchanged in Australia since 2008. Australia has a unique mechanism whereby loan repayments often continue at the same level when interest rates fall, as they have been since 2011.</span><br><br><em>60 Minutes</em><span> also claimed that "half" of all loans are interest only.</span><br><br><span>The true figure as revealed in APRA's figures today is 39 per cent - still too high for comfort, granted, but this mostly reflects tax strategy rather than that people "can't afford to pay the debt back", and the interest-only loans figure should theoretically now decline following the crackdown on investor lending.</span><br><br><span>The truth according to the Reserve Bank of Australia (RBA) research is that on average homeowners are miles ahead on home loan repayments, by fully two years which is an unprecedented margin. </span>
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<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>
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High LVR loans have been declining for years: Pete Wargent

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<p>The Australian Prudential Regulation Authority (APRA) released its December 2015 quarterly data on property exposures by Australian authorised deposit-taking institutions (ADIs).</p>
<p>The data is always interesting to analyse in order to get further insight into the current state of the mortgage market.</p>
<p>The first data point is residential term loans to households which have a total outstanding balance of $1.384 trillion which has increase by 8.9% over the past year. The total value of outstanding owner occupier loans is $884 billion having increased by 12.8% over the past year and accounting for 63.9% of all outstanding loans. The remaining 36.1% of outstanding loans are to investors, having increased by 2.6% year-on-year to $500 billion. </p>
<p>Growth in outstanding loans has tilted away from investors to owner occupiers.  After year-on-year growth in investor loans peaked at 18.2% in March 2015 it has slowed to 2.6% growth while owner occupier credit troughed at an annual rate of 2.2% in March 2015, before rebounding to the current annual rate of 12.8% (the fastest annual growth rate since June 2010).</p>
<p><a href="/images/2016/03/Chart-1-3-580x204.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/Chart-1-3-580x204.jpg" alt=""></p>
<p>In terms of the types of loans outstanding, 42.3% have an offset facility, 39.3% are interest-only, 0.2% are reverse mortgages, 2.0% are low documentation loans and 0.1% are other non-standard loans.  The year-on-year change across these loan types has been recorded at: +22.0% for loans with an offset facility, +11.6% for interest-only loans, +1.6% for reverse mortgages, -16.6% for low documentation loans and -5.7% for other non-standard loans.  Importantly, the value of outstanding residential loans for low-documentation loans is now at a record low.</p>
<p><a href="/images/2016/03/Chart-2-3-580x207.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/Chart-2-3-580x207.jpg" alt=""></p>
<p>The data highlights that the average outstanding balance on a residential loan is $248,800, up by 1.0% over the quarter and by 4.4% year-on-year.  Reverse mortgages ($95,700), low-documentation loans ($192,800) and other non-standard loans ($195,900) all have much lower outstanding balances.  Meanwhile, loans with offset facilities ($303,700) and interest-only loans ($330,000) have significantly higher outstanding balances. </p>
<p>The year-on-year changes to the outstanding loan balances have been recorded as follows: +7.2% for loans with an offset facility (fastest year-on-year growth since June 2011), +4.9% for interest-only loans, +2.8% for reverse mortgages (slowest year-on-year growth on record), -1.5% for low-documentation loans and -6.8% for other non-standard loans.  The data shows a slowing in the growth of outstanding loan values for reverse mortgages while riskier lending types (low-documentation and other non-standard) have seen an ongoing fall in outstanding loan amounts.</p>
<p>While the previous data looked at the total value of residential mortgages outstanding, the following data focuses on new residential mortgages over the final quarter of 2015.</p>
<p>Over the December 2015 quarter there was a record-high $98.130 billion worth of new residential mortgages approved, $69.091 billion worth were owner occupied with the remaining $29.040 billion being for investment purposes.  Year-on-year the value of new owner occupier loans is 28.8% higher, its greatest change on record, while investor mortgage lending is -24.9% lower, its largest fall on record.</p>
<p><a href="/images/2016/03/Chart-3-3-580x212.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/Chart-3-3-580x212.jpg" alt=""></p>
<p>Looking at the types of mortgages approved over the quarter: a record low 0.3% were low-documentation, 37.0% were interest only which was its lowest proportion since March 2013, 0.1% were other non-standard loans, 47.4% were originated by third parties and 3.7% were loans approved outside of serviceability.</p>
<p>Focussing on the year-on-year change; low documentation loan approvals are -41.8% lower (their largest year-on-year fall since March 2013), interest-only loan approvals are -11.0% lower (their largest year-on-year fall since March 2009), other non-standard loan approvals are up 28.2% (their largest year-on-year increase since December 2013), third party originated loans are up 6.2% and loans approved outside of serviceability are up 41.3%.  The data indicates there has been a significant pull-back in low-documentation loans and interest-only loans. </p>
<p>At the same time, non-standard and loans approved outside of serviceability are rising significantly which may be a potential point of concern for APRA.  Although they make-up a small overall proportion of lending it will be something to keep a close watch on over the coming quarters especially since both have also recorded a quarterly increase.</p>
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<p><img src="/images/2016/03/Chart-4-3-580x207.jpg" alt=""></p>
<p>Finally the data breaks out new lending by loan-to-value-ratio (LVR) bands.  Over the quarter, 23.4% of all new loans had an LVR of less than 60%, 53.4% had an LVR of between 60% and 80%, 14.5% had an LVR of 80% to 90% and 8.7% had an LVR of more than 90% which was its lowest proportion on record. </p>
<p>Looking at the year-on-year changes, the value of lending for LVRs of less than 60% was 16.1% higher, LVRs of between 60% and 80% increased 6.1%, LVRs of 80% to 90% increased 14.3% and LVRs greater than 90% fell by -20.1% which was the largest year-on-year fall June 2010.  Based on the data it is clear that lenders have been tightening lending requirements over recent quarters which has led to a sharp decline in new mortgage lending for LVRs above 90%.</p>
<p>Overall the data indicates that the market is responding to regulatory changes in the lending space implemented over the past year.  There is less new lending to high LVRs, fewer low documentation and interest-only mortgages being written. </p>
<p>On the other-hand some other potentially more risky lending types such as non-standard and outside of serviceability loans are continuing to rise.  It will be interesting to see whether APRA starts to look to crack-down on some of these types of lending in order to ensure stability within the mortgage market.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
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APRA data shows a further tightening of lending standards: Cameron Kusher

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<p><span>April 24th, 2015 was a significant date in the Australian property investment landscape. Why? On this date, APRA (the Australian Macro Prudential Authority – an institution who helps regulates the rules of play for banks and other kinds of lenders) implemented some new rules / codes of conducts for lenders to adhere to.</span></p>
<p><span>The new rules mean that for some lenders who previously had very liberal lending rules and practices for local Australian property investors; had to tighten them up to comply with APRA’s policies.</span></p>
<p><span>Whilst it is still early days; we have seen a number of “Big 4</span><span>″</span><span> lenders, as well as many other tier #2 and tier #3 lenders, begin to implement more restrictive borrowing rules for investor-based loans.</span></p>
<p><span>These have come in all shapes and sizes, such as (but not limited to):</span></p>
<p><span>- Restricting maximum LVR (loan to value ratio) allowance for ‘investment’ category mortgages from, say, 90/10 to 80/20. Part and parcel with this has been some lenders refusing to allow LMI (Lender’s Mortgage Insurance) as a capitalised cost on to loans at those higher (say, 90/10) LVR ratios.</span></p>
<p><span>- Removal of discounted interest rate package deals for their mortgage products; again, for investor-only mortgages (many lenders have retained discounts for owner-occupied, or PPOR – Principal place of residence – loan products)</span></p>
<p><span>- In light of further interest rate cuts from the RBA in recent months; some lenders have; whilst passing on rate ‘cuts’ not actually reduced their ‘calculation of repayment capability’ for mortgage applicants. What this means is, let’s say when interest rates were 0.50 basis points higher, several months ago, and lenders were calculating an applicant’s serviceability based on a scenario where interest rates spiraled to say, 7% (they run these calculations as standard for all applicants); typically when RBA rates drop by 0.50 basis points; so too should the lender’s serviceability calculation assumptions (I.e. their calculation should be using a rate of say 6.50%, not 7%). However, lenders in recent months have maintained say that 7% figure in that calculation.</span></p>
<p><span>These changes have substantial implications for would-be property investors: </span></p>
<p><span>1) The reduced LVR allowance by lenders means borrowers need to cough up more initial deposit. Say you wanted to borrow to buy a $300K investment property. Some lenders at 90/10 LVR acceptance would only require your $30K (10%) deposit, plus purchase costs. A drop to 80/20 means borrowers need to find another $30K to make up a $60K deposit.</span></p>
<p><span>2) Removal of discounted interest rates also is a deterrent to first-time investors entering the market, as their interest repayments will now be slightly higher than what home owners pay. There could thus be a cooling of investors being active in many markets throughout Australia.</span></p>
<p><span>3) For investors who remain active or don’t perceive the above two changes to inhibit their ambitions; they’ll continue with their property investment purchases. However, they simply won’t be allowed to borrow as much. If banks are calculating serviceability based on a higher ‘worst case scenario’ forecast; the banks won’t lend as much. To some investors, this could be the difference between being allowed to buy a $500K investment property, to now only perhaps $320K – $350K. If this eventuates, this will be a game-changer in the market as it’ll wipe a lot of the Sydney and Melbourne potential investor buyers out (who can play in the Sydney and Melbourne markets with &gt;$350K, these days) and into lower-median markets such as Brisbane, Adelaide, Hobart, and some regional centers.</span></p>
<p><span>The role of foreign investors in amongst APRA rules for local lenders: </span></p>
<p><span>And what of the foreign investors? What will be the effect on foreign investor demand of APRA-inflicted local bank and non-bank lender restrictions on investment-based loans? This is hard to infer with any kind of concrete certainty; due to all data relating to foreign residential property investors (including actual volumes of them; types of financing etc.) not being readily available to the public.</span></p>
<p><span>As such, there is already speculation and confusion on just how many foreign investors are using the following kinds of financing for their Australian purchases:</span></p>
<p><span>a) Pure cash from overseas sources/local funds, to buy (no loans required). In this instance; APRA regulations on local lenders will have zero consequence on foreign buyers; or;</span></p>
<p><span>b) Financing/loans given by their local country’s lenders (in these instances; the lending rules imposed by APRA on local Australian institutions don’t apply – meaning foreigners may continue to have access to great cost-efficient mortgage products, for the purchase of Australian property); or;</span></p>
<p><span>c) Foreign buyers who are accessing local Australian lender mortgage products. For this type of foreign buyer; the APRA rules will have the same consequence as for local buyers.</span></p>
<p><span>When comparing drivers for foreign investors to local investors, we must be mindful that there are so many more variables beyond purely the loan or finance structure of choice, that affects their overall attraction to buying property in this country. For instance; exchange rates, FIRB levies or taxes they must pay, the type and condition of the housing stock they have access to, to purchase, are just a few of the many other factors related to foreign investor demand in this country’s residential housing stock.</span></p>
<p><span>So – and I must stress this is pure speculation based on the resources and news I’ve been reading on this subject – there are two quite likely outcomes I would speculate as a result of the tighter APRA rules on local lenders, in regards to the effect of these on foreign investor interest in the market, and on residential property values as a result:</span></p>
<p><span>1) Local buyers (investors, not home owners) get scared off and this takes a substantial amount of ‘heat’ out of 'most' markets. I say ‘most’, because the exception (as in; the markets that will still remain hot despite the APRA rulings) will be the foreign-investor ‘obsessed’ postcodes around Australia. These are the suburbs built in areas where foreign buyers and local buyers alike; both highly desire to purchase in. I say this because though we don’t know what foreign investors are using what finance structures; a more consistent and reliable metric of measurement here, is the actual postcodes they take interest in buying within.</span></p>
<p><span>2) Or, more markets will remain hot anyway. Why? Because those wannabe local first home buyers (FHB’s) who were thinking of applying the recently growing strategy of ‘Keep renting and buy an investment property now instead of a home; to kick start some growth so I can have enough money for a home deposit later on’, will throw that strategic approach straight out the window and say ‘nope, forget investment, the APRA rules don’t make it worth the effort; I’m going to go for that home purchase straight off the bat; better rates, discounts, and possibly LVR’s (depending on their chosen lender…) so I might as well go ‘all-in’ and buy my dream home’. </span></p>
<p><span>Unfortunately, for FHB’s who want to buy into suburbs that also happen to double as hotbeds for foreign buyers; the same bubbling of high housing prices will remain, and continue further. However, in this instance, opportunity could present for FHB’s buying in non-foreign-buyer postcodes, as the local investor volumes will dilute, which should deflate the bubble in those other postcodes enough to help FHB’s.</span></p>
<p><span>So, if either of these outcomes eventuate, I think it can only be a good thing for FHB’s, and less so for local investors. Foreign investors will likely remain unperturbed in their relentless pursuit of the postcodes that they so desire.</span></p>
<p><span>This means that in postcodes where the top 10-20 schools are, per-state (the ones where the Chinese investors specifically, are most active); prices will likely remain as high as ever.</span></p>
<p> Cameron McEvoy is a NSW-based property investor and maintains a blog, Property Correspondent. He can be contacted <a href="https://www.propertycorrespondent.com.au/contact-us/" target="_blank">here</a>.<span style="line-height: 1.3em;"><br></span></p>
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Liberal local lending rules tightened: Cameron McEvoy

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<p>EXPERT OBSERVER</p>
<p>This cemented a robust rebound in lending flows since the election, mainly driven by owner-occupiers (+23 per cent).</p>
<p>Investment loans are also up +15 per cent since the election, but from a very depleted base.</p>
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<p>Since the election the rebound in home loans has been driven by New South Wales (+27 per cent), Queensland (+22 per cent), and Victoria (+21 per cent). </p>
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<p>First homebuyer numbers hit decade highs, even ahead of the rapid take-up of the deposit scheme in January. </p>
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<p>There was also a big jump in the average loan size to $500,000, but I'm less sure of the integrity of this data trend.</p>
<p><strong>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></p>
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Housing lending ended 2019 on a high: Pete Wargent

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<p>The Australian Securities &amp; Investments Commission has updated its guidance surrounding responsible lending rules for the first time in five years.</p>
<p>The National Credit Laws provide consumers with important protections when seeking credit directly from a lender or through a broker.</p>
<p>ASIC’s revised guidance is intended to assist lenders and brokers to comply with their responsible lending obligations and ensure that they do not recommend or provide credit that is unsuitable.</p>
<p>ASIC Commissioner Sean Hughes said ASIC conducted extensive consultation on this important issue.</p>
<p>The aim is to stop banks and finance companies saddling consumers with unsustainable debt by requiring they obtain sufficient, reliable and current information about a customer’s financial position.</p>
<p>It follows ASIC's decision to appeal an adverse Federal Court ruling on alleged responsible lending breaches by Westpac.</p>
<p>The regulator advised that the decision in the appeal to the Full Federal Court would be reflected in any revised guidance.</p>
<p>Australian Banking Association chief executive Anna Bligh said the updated rules would provide clarity to banks on ASIC’s views on what responsible lending obligations require before offering credit to customers.</p>
<p>“This is an important document for the industry to guide each bank’s approach to responsible lending which we will now study closely to assess any impacts it may have on borrowing for customers,” Ms Bligh said.</p>
<p>“The industry is pleased to see ASIC has maintained a principles based approach to lending, which as an industry we have called for, and to ensure banks are able to fulfil their obligations without the process becoming too restrictive for customers,” she said.</p>
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Responsible lending rules updated by ASIC

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Active first home buyers; investors on strike: Craig James

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<p>The value of new lending commitments to households rose 2.6% in February 2019, seasonally adjusted, according to the latest ABS figures.</p>
<p>The rise in lending to households in February follows a 2.3% fall in January 2019. </p>
<p>ABS Chief Economist, Bruce Hockman said: "Despite the rise in February, the longer term story is largely unchanged with new lending to households remaining subdued and well down on levels seen over the past five years. </p>
<p>"Lending for owner occupier dwellings in New South Wales is a good example of this broader story, with the series still down over 20% from the peak of lending in August 2017, even after recording an 8.2% monthly rise in lending commitments in February."</p>
<p>At the national level, the value of lending for owner occupier dwellings rose 3.4% in February, while lending for investment dwellings recorded a more modest rise of 0.9%. </p>
<p>The number of loans to owner occupier first home buyers rose 1.8%, slightly outpacing the rise in the number of loans to owner occupier non-first home buyers (up 1.6%). Both series though remain well below February 2018. </p>
<p>Lending to households for personal finance rose 0.4% in February after a 1.2% rise in January.</p>
<p>While this is the first back-to-back increase in lending for personal finance since late 2017, the components of this lending generally linked to household consumption remained relatively weak. </p>
<p>In trend terms, the value of new lending commitments to businesses fell 2.4% in February with weakness across most business lending categories.</p>
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