Brisbane-based developer <a href="https://www.apartments.com.au/developers/azure">Azure</a> is has been greenlit for its $115 million residential project within the Gold Coast Health and Knowledge Precinct in Southport

Following the acquisition of the site at <a href="https://www.apartments.com.au/new-townhouses/1-clarke-street-southport-qld-4215">1 Clarke Street</a> in October 2025 with development application Lodgement in January 2026, Azure has been granted approval for the 114 terraces which will form the final stage of the wider Lumina development.

“It’s a fantastic milestone for us to receive the green light on our second Gold Coast project,” said Trent Keirnan, Founder of Azure.

“The Gold Coast continues to evolve, with demand for considered, high-quality residences at an all-time high. This project has been thoughtfully shaped to respond to that demand.

“We’ve worked closely with Economic Development Queensland to bring this project forward, and the collaboration has been both proactive and highly considered. Their shared commitment to quality housing outcomes has enabled a streamlined approvals process and a strong result for the precinct.”&nbsp;

Appealing to a wide demographic, the project will deliver a range of two- and three-storey designs comprising a collection of three-bedroom terrace homes as well as one- and two-bedroom apartment-style residences. The designs by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>&nbsp;focus on&nbsp;“urban coastalism”.

Residents will have access to an array of lifestyle amenities, including a resort-style pool with multiple lounging zones and landscaped gardens.

The residential offering will support the thriving Health and Knowledge Precinct, which includes Griffith University, Gold Coast University Hospital, Gold Coast Private Hospital and the new RDX Lumina and Proxima Towers, which are home to a range of health, education and research tenancies, including a 200-place childcare centre.

Azure aims for an off-market release for the project in the third quarter of this year, at the same time as construction is anticipated to start.

Joel Robinson

Azure approved for new townhouse development in Southport

Fortis has secured approval for a 57-room hotel at Richmond Square, marking another milestone in the delivery of the $330 million mixed-use precinct in Melbourne's inner east.

The hotel will occupy Levels 1 and 2 of Carmine House and forms part of Fortis' vision for Richmond Square, a precinct that will bring together apartments, hospitality, wellness and lifestyle offerings between Richmond and Cremorne.

Once complete, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> will comprise 107 residences across Wiltshire House and Carmine House, alongside the hotel, hospitality venues, wellness facilities and a range of services aimed at both residents and visitors.

[smartcode_project:default project_id=13181 project_image_fid=348529]

The approval adds another layer to what Fortis is creating at Richmond Square, as developers increasingly look beyond standalone apartment buildings and towards mixed-use precincts that provide amenity and activation beyond the front door.

Jordan Winada, Head of Acquisitions (Commercial) Victoria at Fortis, said the approval was an important step in delivering the broader vision for the project.

"Richmond Square has always been about creating a destination rather than simply delivering residential apartments," Winada said.

"As buyer expectations continue to evolve, we're seeing increasing demand for developments that offer convenience, connection and access to high-quality experiences and amenity as part of everyday life.

"The hotel approval allows us to further realise that vision and create a precinct where residential living is complemented by hospitality, services and amenity in a way that is rarely seen in Melbourne's CBD and city fringe."

[smartcode_project:default project_id=13181 project_image_fid=348530]

The hotel will also support a range of optional services for residents of Carmine House, including housekeeping and linen refresh programs, laundry and dry-cleaning services, in-residence food and beverage delivery, grocery and pantry stocking services, and concierge assistance.

The approval comes as owner-occupiers continue to dominate Australia's new apartment market, with buyers increasingly seeking developments that offer convenience, flexibility and lifestyle amenity alongside their homes.

Winada said buyers are now placing greater emphasis on the broader precinct and surrounding amenity when making purchasing decisions.

"Residential amenity is no longer limited to what sits within an apartment building. Buyers are increasingly assessing the broader lifestyle ecosystem surrounding their home and the ways in which a precinct can support their day-to-day needs.

"Richmond Square has been designed to provide that experience through a carefully curated mix of residential, hospitality and lifestyle offerings that work together to create a more connected way of living."

[smartcode_project:default project_id=13181 project_image_fid=348534]

The hotel is expected to open in early 2027, with the operator to be announced later this year.

Further hospitality, retail and lifestyle tenants are also expected to be revealed in the coming months as Fortis continues to shape the offering at Richmond Square.

[smartcode_project_cta:default project_id=13181]

Fortis approved for hotel component of Richmond Square precinct

Having successfully expanded into a new region with its Caloundra apartment development, Sunset by Dusk Group, growing South East Queensland developer Dusk Group is again venturing into new territory.

The developer has lodged plans for a 70-apartment project in the Moreton Bay region, to be known as <a href="https://www.apartments.com.au/new-apartments/sunrise-on-sutton-25-sutton-street-redcliffe-qld-4020">Sunrise on Sutton</a>, named after its prime Sutton Street location, just one street back from Suttons Beach.

<img alt="Sutton" data-entity-type="file" data-entity-uuid="88a9f9ee-6ace-47f5-a0c6-8fb134b27e98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.42%E2%80%AFAM.png?VersionId=iMXmJ7_BNZAmCt.jjupMSLdV_Qa9zJAK" />

Dusk Group Directors Huw Feeney and Anthony Short seized the opportunity to acquire the near-1,800 sqm amalgamated corner site at Sutton and Ella Streets for their first project in the area.

They have again enlisted MAS Architecture Studio, the architects behind Sunset by Dusk, to design the new eight-storey development.

The building will comprise a mix of one, two and three-bedroom apartments and has been designed to maximise views towards Suttons Beach, Margate Beach and Moreton Bay.

Pending approvals, the project could launch before the end of the year.

<img alt="Dusk" data-entity-type="file" data-entity-uuid="90c0c26c-096c-4ceb-8c58-f8303aea542f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.49%E2%80%AFAM.png?VersionId=nw8bqQtpOrf5nA95tuYhtqdB59YUzmO0" />

The development will provide 111 car parking spaces and 40 bicycle spaces.

Positioned within walking distance of Suttons Beach, Bluewater Square, Redcliffe Hospital and the Redcliffe Paceway, the development will sit within one of the peninsula's increasingly urbanised coastal pockets.

Redcliffe's new apartment market remains exceptionally tight, with Gardner Vaughan Group's One Redcliffe currently the only new apartment development actively being marketed in the beachside suburb.

It's another beach-focused development for Dusk Group, who has seen considerable success at its Caloundra apartment development, <a href="https://www.apartments.com.au/new-apartments/sunset-by-dusk-group-caloundra-5-7-bombala-terrace-caloundra-qld-4551">Sunset by Dusk Group</a>.

Over 80 per cent of the 36 apartments have sold ahead of its early 2027 completion.

&nbsp;

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

First look: HSN, Rebel, advances Woolloomooloo precinct plans

Loan Deposit

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There could be 20,000 first home buyers in 2020 who buy their property with a deposit of as little as 5% under the new Federal Government home loan deposit guarantee scheme.
The number of applicants across Australia will be capped at 10,000 every financial year, but as the initiative begins on January 1, there will be the double opportunity during 2020.
The 10,000 opportunities that allow low-and middle-income earners to participate on a first come basis from January 1 and then from July 1.
Even with 20,000 likely participants in 2020, it is likely some 80,000 first home buyers will need to find their own regular borrowing arrangements.
Sydney first-home buyers wanting to buy next year using the federal government's new home loan deposit scheme will need to buy properties costing less than $700,000.
The price cap will also apply to the large NSW regional centres with a population of 250,000 plus, namely Newcastle, Lake Macquarie and the Illawarra around Wollongong.
Buyers in the rest of the state can spend up to $450,000 to be eligible to buy under the scheme.
The Sydney house median sits at $900,000 and for units it is $710,000 according to CoreLogic.
It is $600,000 for Melbourne buyers, $500,000 in the ACT and $475,000 for Brisbane buyers.
The scheme to be known officially as the First Home Loan Deposit Scheme (FHLDS) will apply to owner-occupied loans on a principal and interest basis.  
Many first-home buyers are already setting their hopes based on the already available stamp duty tax incentives and available grants, which is centred around a $650,000 purchase.
To be eligible for the (FHLDS) the contract of sale must be dated after 1 January 2020.
It removes the cost of lenders mortgage insurance for FHBs with an annual income of up to $125,000 or couples with a combined $200,000 per year who haven't saved the standard 20% deposit.
There are to be no more than two borrowers on any loan and where there are they must be the spouse or de facto partner of the other borrower.
Off the plan purchases can be made under the scheme.
If the loan relates to the purchase of vacant land, it must also relate to the construction of a dwelling.
The scheme will only apply to Australian citizens.
The loan-to-value ratio will be be between 80 and 95% for loans not more than 30 years.
Repayments will be required for the principal of the loan for the full period except for construction loans where the loan agreement may permit interest-only repayments.
Any building contract requires construction commencement within 26 weeks of the settlement date and the issuance of an occupancy certificate within 15 months.
Treasurer John Frydenberg and Housing Minister Michael Sukkar have been credited with getting the balance right in recognising the variations in markets around the country, between metropolitan and regional areas.
It is however likely more loans will be for apartments than houses.
The National Housing Finance and Investment Corporation (NHFIC), who will be responsible for implementing the First Home Loan Deposit Scheme, is currently seeking lenders.
No more than two of the major banks will participate along with smaller lenders set to join the lending panel two months after its initial commencement. 
The government guarantees cease once the outstanding loan is at 80% or less.
The information now available should help the first home buyers to start making plans.
This article was first published in the Saturday Telegraph.
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jchancellor-FAypfDUnLy

20,000 FHBs set to take up the low deposit scheme in 2020

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<div>
Liquidators are warning property buyers caught in the collapse of Deposit Power that there is no update yet on their deposit bond guarantees.
"It appears that, at this point in time, the interim liquidators cannot advise the timeframe in which claims will be paid or the dollar value that will be paid," stakeholders were told by the interim administrator.
<div>Deposit Power, which provided interim finance to property buyers, went into liquidation on February 23.</div>
<div> </div>
<div>Deposit Power offered deposit guarantee bond products, assisting Australian borrowers and investors to buy residential and commercial properties without the need to provide a cash deposit.</div>
The Administrators have urge all stakeholders, including property purchasers who have purchased deposit guarantee bonds to seek independent legal advice as to their rights generally. 
It means deals potentially coming undone if vendors are unwilling to wait for buyers to find alternative finance, according to mortgage brokers.
Existing deposit guarantee bonds cannot be amended because Deposit Power's parent, CBL Insurance, is in interim liquidation after the parent company into interim liquidation.
Gavin Moss, is the interim administrator of Deposit Power, which closed after the collapse of New Zealand's CBL Insurance.
</div>
<div>
<div id="article-inline-ad">Bids for Deposit Power were being made on this month.</div>
<div> </div>
<div>An estimated 4000 local residential, commercial and property investors - down from the initial 10,000 in the initial Australian Financial Review report - have an estimated $200 million of deposits unresolved now for more than a month after the bond issuer and guarantor was placed in interim liquidation.</div>
<div> </div>
<div>Deposit Power had links with most of the major property broker networks and major banks through their broker networks.</div>
</div>
<div>
Deposit Power was on the product panel of most of the leading mortgage brokerages and aggregators, including Mortgage Choice.
</div>
 
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j.ballantyne1990-6AQqhLzZaK

Deposit Power collapse imperils smooth property settlements

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Deposit guarantee company Deposit Power is now under external administration following the placement of Auckland-based CBL Insurance into interim liquidation.
External administrators from Chifley Advisory were appointed to the company.
Deposit Power offered deposit guarantee bond products, assisting Australian borrowers and investors to buy residential and commercial properties without the need to provide a cash deposit.
In a report by the Australian Financial Review, an estimated 10,000 residential, commercial, and property investors could be affected by the company’s collapse.
The deposit bonds are a form of bridging finance for up to 48 months for off the plan buyers.
Investors calling the Sydney office are met with a recorded message that the company is facing "external issues."
Deposit Power's bonds were sold to first time buyers.
Self managed super funds purchasing commercial or residential property are also using the deposits bonds. 
After the interim liquidation, insureds and beneficiaries under policies and surety and financial risk bonds are being urged to obtain advice from their insurance brokers to determine whether they need to purchase new insurance cover or secure additional or replacement bonds. 
A notice from the external administrators says CBL Insurance is “liable to pay any valid claims payable to any beneficiary of any guarantee issue by them”, and that all claims should be directed to CBL Insurance.
New Zealand’s High Court ordered CBL Insurance last month to be placed into interim liquidation following the Reserve Bank of New Zealand’s application.
Auckland-based insurance broker and building warranty provider Stamford Insurance said in a statement yesterday that it has stepped in to protect CBL Insurance clients. Stamford said it has secured Lloyd's of London’s help to protect buyers and homeowners.
It is not clear from the company's statement if its scheme to protect CBL Insurance clients will cover those in Australia as well.
“The underwriters in London responded immediately to our request and are committed to providing New Zealand homebuyers with the finest building warranties," said Stamford director Duncan Colebrook in the statement.
Stamford said its scheme will do the following:
<ol>
<li>For buyers who have signed a contract and paid a deposit where work has yet to start, Stamford will cover the risk that they may lose their deposit if their builder becomes insolvent.</li>
<li>If construction has already started, Stamford will guard against builder insolvency and provide 10 years’ defects cover on completion.</li>
<li>For homeowners who have taken possession of their homes within the past 12 months and who may have lost their protection against major defects arising with their home, Stamford will offer them a new 10 year policy.</li>
</ol>
Deposit Power’s external administrators said in the notice that an interested party may buy the company’s business, but that “the sale has its complications as the company was only an agent/authorised manager of CBL Insurance”.
“Given the nature of the company’s operation, any sale transaction will need to happen quickly, or it will not happen at all.”
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Deposit Power collapse to affect 10,000 home buyers

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One third of Australians spend over five years saving for a deposit, according to new research commissioned by finder.com.au.
The 2,006 person survey also found the majority of people take 3.7 years to save a deposit on average.
Would-be home buyers from Queensland and New South Wales take nearly four years, or 47 months, to save for a home deposit on average, the highest across the states and territories.
Home buyers in Victoria come in at third place, taking an average of 45 months to save for a deposit.
The median apartment price nationally is $545,000 and most borrowers need a minimum 10 percent deposit, the equivalent to $54,500.
<a href="/images/2016/11/02/State%20by%20state%20breakdown.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/02/State%20by%20state%20breakdown.jpg" alt="" width="401" height="460">
Men take slightly longer than women to save for a deposit, according to finder.com.au money expert Bessie Hassan.
On average, women take 43 months (3.6 years) to save for a deposit, while men take 45 months (3.8 years).
Over 11% of Aussies have saved for 10 years or more to have enough funds to complete a deposit.
Prospective home buyers in South Australia take the least time to save for a home deposit, with almost three quarters (72.27%) taking under five years.
“With interest rates at a historic low of 1.5%, first home buyers are madly saving to pursue the Australian dream and break into the property market," Bessie said.
“Although saving for a deposit can require financial discipline and personal sacrifices, it’s not unattainable.
“Set yourself a savings goal and come up with actionable ways to achieve your goal.
"For example, you can boost your savings by cutting back on unnecessary costs such as entertainment or travel expenses, or by consolidating any existing personal debt that you have,” Hassan said.
<a href="/images/2016/11/02/Generation%20breakdown.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/02/Generation%20breakdown.jpg" alt="" width="404" height="459">
“For a full documentation loan, however, you should aim to save at least 20% of the purchase price so you don’t have to pay lenders mortgage insurance,” she says.
There are a range of other costs to account for when it comes to buying real estate including legal fees, inspection costs, stamp duty, home loan application or establishment fees, and insurance.
“It’s definitely not a short-term goal for most.
"You have to trim expenses and make sacrifices for many years.
“The next generation of home buyers should be realistic about the length of time it takes to save a deposit as well as the financial commitment required to hold and maintain a property.
“As well as a deposit and upfront costs of purchasing a property, there are also several ongoing charges including periodic mortgage repayments, repairs and maintenance, cleaning, and taxes,” she says.
 
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One in three first home buyers stuck saving for a deposit for over five years

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Westpac, the country's biggest lender to landlords, is lowering the size of the deposits it will require from property investors.
The decision partially reverses last year's crackdown.
Westpac and St George has told mortgage brokers the maximum loan-to-valuation ratio (LVR) for new mortgages for property investors would rise to 90 percent, up from 80 percent.
The change means property investors need a deposit of 10 percent of a property's value, compared with 20 percent previously.
Fairfax Media reported Westpac's lending to investors grew only 7.2 percent in the year to March, down from growth of more than 11 percent in the first half of 2015.
The LVR changes bring Westpac into line with rivals. 
Aside from Westpac's move on LVRs, banks are offering more competitive interest rates to property investors, with St George on Monday offering cut-price variable home loan rates of 4.24 percent for investors.
Westpac's move marks a partial reversal from the industry-wide clampdown on investor lending last year, triggered by the Australian Prudential Regulation Authority which was seeking to limit growth in lending to investors to 10 per cent a year to cool the heated property market in Sydney and Melbourne.
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