<p><a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.</p>

<p>Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.</p>

<p>For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.</p>

<p>“I knew it was a good site as soon as I saw it,” Dabit said.</p>

<p>“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”</p>

<p>[smartcode_project:default project_id=89709 project_image_fid=360922]</p>

<p>That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.</p>

<p>Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.</p>

<p>Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.</p>

<p>At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.</p>

<p>[smartcode_project:default project_id=89709 project_image_fid=360915]</p>

<p>In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.</p>

<p>Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.</p>

<p>Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.</p>

<p>Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.</p>

<p>Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.</p>

<p>[smartcode_project_cta:default project_id=89709]</p>


Joel Robinson

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

<p>Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.</p>

<p>Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.</p>

<p>Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.</p>

<p>In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.</p>

<p>The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.</p>

<p>Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb</p>

<p>“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.</p>

<p>"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."</p>

<p>Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.</p>

<p>Its expanding portfolio of Metro-linked developments includes Tallawong Village, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.</p>

<p>Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.</p>


Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

<p>In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.</p>

<p>"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.</p>

<p>"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."</p>

<p>The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.</p>

<p>“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.</p>

<p>"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."</p>


Trump Hotel heads for the Gold Coast to become Australia's tallest building

<p>More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.</p>

<p>For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.</p>

<p>Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.</p>

<p>[smartcode_project:default project_id=143415 project_image_fid=359833]</p>

<p>Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.</p>

<p>The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.</p>

<p>[smartcode_project:default project_id=143415 project_image_fid=359841]</p>

<p>Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.</p>

<p>For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.</p>

<p>Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.</p>

<p>[smartcode_project:default project_id=143415 project_image_fid=359842]</p>

<p>With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.</p>

<p>As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.</p>

<p>[smartcode_project_cta:default project_id=143415]</p>


Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

<p data-end="174" data-start="72">When it comes to developing in Melb​ourne's Bayside region, <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> knows exactly what buyers want.</p>

<p data-end="346" data-start="176">With a longstanding presence in the area and a string of sell-out projects, Lowe Living consistently delivers developments that are as sought-after as their predecessors.</p>

<p data-end="585" data-start="348">Their latest instalment is in <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a><a href="https://www.apartments.com.au/developments/hampton-east-vic-3188">&nbsp;East,</a> the same postcode where they have previously delivered Hampton Hill and Oceano. The developer-builder recently commenced construction on its newest project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/marella-hampton-31-35-alicia-street-hampton-east-vic-3188">Marella</a>, a collection of 32 apartments just five minutes from the beach.</p>

<p data-end="945" data-start="587">Site acquisition is paramount to success. Lowe Living rarely brings a building to market that isn’t within walking distance of essential amenities, whether it be the beach, a prominent retail strip, or a train station. Marella is no exception, located at its Alicia Street address, less than a kilometre from the retail heart of Hampton Street and Hampton Station.</p>

<p data-end="945" data-start="587">[smartcode_project:default project_id=146197 project_image_fid=358495]</p>

<p data-end="993" data-start="947">Equally important to Lowe Living is the architecture.</p>

<p>For Marella, they appointed <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, who explains that the architectural vision was to create a contemporary reinterpretation of the Californian bungalow, a style that’s iconic to Hampton’s heritage.</p>

<p>"By borrowing, abstracting, and reinterpreting elements of this quintessential style, such as strong datum lines, articulated columns, exposed structures, and roof tiles, our design strikes a balance between modernity and familiarity," says Cera Stribley.</p>

<p>"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."</p>

<p data-end="1628" data-start="1460">[smartcode_project:default project_id=146197 project_image_fid=358499]</p>

<p>The building features terracotta brick, soft cream masonry, and exposed metal detailing, giving it a tactile presence that is intended to weather gently over time.</p>

<p>Internally, the focus on lasting quality continues, with two and three-bedroom residences anchored by sculptural stone kitchen islands, natural light, and clearly defined transitions between living, dining, and outdoor spaces.</p>

<p>The layouts have been carefully designed. Open-plan zones extend to private balconies, with light-filled interiors and generous kitchen proportions, supported by Miele wall ovens, induction cooktops, and integrated fridge-freezers. These are not small apartments rebranded as luxury; they have been designed at scale, with ample storage, hotel-style entry access, and secure basement parking provided as standard.</p>

<p data-end="2437" data-start="2024">[smartcode_project:default project_id=146197 project_image_fid=358492]</p>

<p>At the uppermost level, Marella’s Signature Collection penthouses offer city or bay views, large entertaining terraces (some with outdoor spas), and elevated finishes, including fully wrapped stone kitchen benches and a Liebherr wine fridge.</p>

<p>Flexible room arrangements allow for a fourth bedroom or secondary living space, sought-after by both empty nesters who want the space when family visits and families with older children.</p>

<p data-end="2870" data-start="2684">[smartcode_project:default project_id=146197 project_image_fid=358498]</p>

<p>A residents’ lounge on the ground floor reinforces the project’s small-community feel. With a fireplace, private dining area, and adjoining terrace, it’s one of several shared spaces that balance amenity with privacy and scale.</p>

<p>Construction has commenced, with completion expected in early 2027.</p>

<p>[smartcode_project_cta:default project_id=146197]</p>


Lowe Living continues Bayside legacy as Marella rises in Hampton

Loans And Mortgages

<p>While experts agree the RBA is unlikely to increase the cash rate for a while yet, this doesn&#39;t mean mortgage holders can rule out an out-of-cycle rate hike.&nbsp;</p>

<p>UBank announced an out-of-cycle move late last week, increasing its 3-year fixed rate from a near market-leading 1.75% to 1.85% (an increase of 10 basis points). Westpac also bumped up its fixed-term rates last Friday.&nbsp;</p>

<p>[smartcode_project:default project_id=28162 project_image_fid=141055]</p>

<p>If a homeowner with the average mortgage of $495,420* experienced a rate hike of 25 basis points from the current average variable rate of 4.27% to 4.52%, they would need to pay an extra $878 per year.&nbsp;</p>

<p>Over the course of a 30-year loan, this would cost them an extra $26,330 in interest.&nbsp;</p>

<p>Finder&rsquo;s Consumer Sentiment Tracker, a survey of 7,191 mortgage holders, found a monthly raise of $200 or less would cause financial distress for two in five mortgage holders (41%).</p>

<p><img alt="" height="464" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/finder_may_3.jpg" width="686" /></p>

<p>Cooke said that while the cash rate isn&rsquo;t going anywhere, that doesn&rsquo;t mean home loan rates will stay put.</p>

<p>&ldquo;The last time the cash rate was held for an extended period of 34 months, banks changed their interest rates on average 7 times &ndash; 5 of which were increases.&quot;</p>

<p>&ldquo;It&rsquo;s important that homeowners factor in potential rate increases when applying for a mortgage &ndash; keeping a cushion in your budget can keep your budget from getting dicey down the track,&rdquo; Cooke said. &nbsp;</p>


While experts agree the RBA is unlikely to increase the cash rate for a while yet, this doesn't mean mortgage holders can rule out an out-of-cycle rate hike

jordan_55689

Rate hikes could leave mortgage holders stranded with excess interest

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<p>EXPERT INSIGHT</p>

<p>New data suggests changes to mortgage lending rules in the near future are unlikely, despite rapidly rising home values. Recent data from the Australian Prudential Regulation Authority (APRA) suggests that while the proportion of loan originations that could be ‘higher risk’ showed a slight increase through the December quarter, the regulator saw no evidence of a “material relaxation in lending standards”.</p>

<p>Indicators of lending standards are being watched carefully. Borrowing for the purchase of residential property hit a record $28.8 billion in January 2021, up 34.8% from the decade average. This has also contributed to housing values reaching a new record high.</p>

<p>So far however, the December 2020 quarter has not shown any major deterioration in lending standards, suggesting there is no need for interventions in the form of tighter credit policies. The December 2020 quarter is of particular importance, because it marks a positive turn in Sydney and Melbourne dwelling values coming out of COVID-related restrictions.</p>

<p><strong>The share of interest only loans as a portion of new home loans ticked up to 19.2%</strong></p>

<p>The portion of new mortgages lent on interest only terms hit 19.2% in the December 2020 quarter, up from 18.5% in the previous quarter.</p>

<p>This is not far from the 18.7% average seen over the past two years. It is also well below the record high of 45.6%, which was recorded over the June 2015 quarter. However, it is worth noting there have been improvements to collection of banking statistics, and the historic series is not directly comparable with recent data.</p>

<p>Interest only lending was noted as a potential risk to broader financial stability in the years to 2017. At that time, it was becoming more common for borrowers to originate their loans on interest only repayment terms, or refinance and extend their interest only term period. This was leading to a delay in the paying down of loan principals, at a time when house prices and household debt were rising.</p>

<p>Interest only loan structures have generally been more popular among investors, who are eligible for tax deductions on their interest payments. Considering investors remain around record lows as a share of total lending, the risk to financial stability from interest only lending to this segment of the market remains low.</p>

<p>A key area regulators are likely to be watching is the proportion of interest only lending to owner occupiers. The number of interest only loans to owner occupiers increased by 32.5% over the September quarter and comprised a series high 45.7% of interest only loan originations. A sustained lift in owner occupiers not paying down their loan principal, could place upwards pressure on household debt levels, creating stability risks when interest rates eventually rise.</p>

<p><strong>Debt-to-income ratios of greater than, or equal to 6, hit a two year high</strong></p>

<p>APRA has previously cautioned lenders on exposure to loan-to-income ratios, and debt-to-income ratios, exceeding 6. The portion of new home loans originated on a loan-to-income ratio of greater than, or equal to 6 times reached 7.0% of loans over the December 2020 quarter. This is the highest across the series, which commences from March 2019. Loans originated with a debt-to-income ratio of 6 or more made up 17.2% of mortgages originated in the quarter, which was also a series high. APRA did not express concern around this metric in their report, arguing the share of debt-to-income lending was “within its historical average”.</p>

<p>Increased demand across Sydney and Melbourne property markets, as is being seen at the moment, will test debt-to-income ratios. This is because the house price-to-income ratio across Sydney has averaged around 8.5 since 2013, and has averaged 7.5 across Melbourne since 2015. As housing prices rise at a time when incomes are expected to remain relatively flat, there is the potential for both loan-to-income and debt-to-income ratios to lift further, which is likely to be seen as a riskier outcome by regulators.</p>

<p><strong>The proportion of loans originating on high loan-to-value ratios (LVRs) also rose for owner occupiers and investors</strong></p>

<p><img alt="" height="388" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lvr_80.jpg" width="897"></p>

<p>The portion of new home loans originated on a loan-to-value ratio of 80% or more increased to 42.0% across all borrowers in the December 2020 quarter, up from 39.9% in the previous quarter to be the highest proportion on record. The jump was greater the owner occupier space, where 45.7% of loans were originated on an LVR of greater than or equal to 80%, and 14.1% of loans were greater than or equal to 90%.</p>

<p>The regulator argued this increase reflects greater participation of owner occupiers in the market, particularly first home buyers. First home buyers may be accessing housing through loan guarantors, or even the first home loan deposit scheme, which reduced the risk of low-deposit home loans.</p>

<p>The latest data from APRA indicates there is no blow out of risk in mortgage lending, despite the recent surge in property prices across Australia. The publication follows a recent address from RBA governor Phillip Lowe, who reiterated the strategy of maintaining a low cash rate for years to come, which is likely to continue supporting housing demand.</p>

<p>But a deterioration in lending standards can be mitigated, as we’ve witnessed before. This could be achieved by tightening serviceability assessment rates, loan sizes relative to incomes or debt (LTI or DTI ratios) or loan sizes relative to home valuations (LVR). In a recent statement, the Council of Financial Regulators reiterated that while lending standards were generally being maintained at this stage, they have responses up their sleeves if lending conditions do become risky.</p>

<p>While APRA’s December quarter statistics show a trend towards ‘riskier’ styles of lending, the magnitude is not likely to be large enough to trigger a regulatory response; but if this trend continues, or indeed accelerates, it becomes more likely we will see a regulatory intervention aimed at curbing financial stability risks related to the housing sector.</p>
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pchatterjee-seVgoiQgz5

Housing lending may be cheap, but regulators argue it is not yet risky: CoreLogic's Eliza Owen

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<p>Westpac have followed ANZ and NAB and cut their two and three year fixed mortgage rates for new owner-occupiers.</p>

<p>They now have the lowest two year fixed rate on the market at 1.79 per cent, having chopped 20 basis points from their record-low 1.99 per cent offering.</p>

<p>Westpac's three year rate has seen an 11 basis point cut, now at 1.88 per cent.</p>

<p>The rates are only for owner-occupiers paying principal and interest with an LVR ratio of 70 per cent or less.</p>

<p>The two year investor fixed rates have also been cut by 0.2 per cent.</p>

<p>[smartcode_project:default project_id=22584]</p>

<p>RateCity.com.au database shows that 57 lenders now have home loan rates under two per cent, including three of the big four banks.</p>

<p>“Westpac has thrown down the gauntlet to its competitors today proving there’s still heat in the fixed rate market.” RateCity.com.au research director Sally Tindall said.</p>

<p>“While we’re nearing the bottom of the rate cycle, provided the cash rates remains above zero, it’s likely there’ll be more cuts in the weeks to come as banks compete for the record levels of new lending coming through the door.</p>

<p>“Lenders are currently in a strong position to offer low fixed rates, which also have the benefit of locking a customer in for the fixed term.</p>

<p>“Westpac is now offering the lowest 2 year fixed rate, and was already offering the lowest 4-year fixed rate in the market – an unusual position for a big four bank.</p>

<p>[smartcode_project:default project_id=2772]</p>

<p>Tindall says home loans at the nation's largest lender, Commonwealth Bank, are starting to look outdated, with just one fixed rate under 2 per cent.</p>

<p>“Westpac group is reserving its sharpest rates for people who own at least 30 per cent of their home.</p>

<p>“Property price rises aren’t just helpful for people planning to sell. If you’ve had your home loan for a few years you might find you have more equity than you think and qualify for one of these low-rate loans."</p>
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RateCity.com.au database shows that 57 lenders now have home loan rates under two per cent, including three of the big four banks.

Westpac offer lowest two-year fixed rate mortgage after cutting home loans

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<p>UBank, a subsidiary of NAB, has announced the new lowest fixed rate in Australia – 1.75 per cent for three years.</p>

<p>But customers will have to be quick, with the rate set to expire in a little over a month.</p>

<p>The three-year fixed rate is 0.13 per cent below the next lowest fixed rate and 1.34 per cent lower than the average existing owner-occupier rate of 3.09 per cent (RBA data).</p>

<p>UBank has also cut its other fixed rates by up to 0.35 per cent for new customers.</p>

<p>There are now 53 lenders offering at least one fixed or variable rate under 2 per cent on over 120 different home loans, according to RateCity.com.au data.</p>

<p>RateCity.com.au research director Sally Tindall said while the RBA was set to keep rates on hold, competition between lenders was still driving home loan rates down.</p>

<p>“Lenders have been offering home loan rates under 2 per cent since June last year, yet thousands of existing mortgage holders seem content with the idea of paying a rate starting with a ‘3’,” she said.</p>

<p><img alt="" height="459" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cheaper_fixed_rates_urban.jpg" width="1200"><br><em>Source: RateCity.com.au</em></p>

<p>“UBank’s decision to offer a market-leading rate for just over a month is designed to get people to act.</p>

<p>“Putting an expiry date on this deal could help combat complacency among mortgage holders.</p>

<p>“Mortgage holders suffering from inertia are likely to be getting fleeced,” she said.</p>

<p>“Fixed rates are typically less flexible than variable ones, so if you want access to an offset account and unlimited repayments, you might look at splitting your loan or consider a variable rate loan,” she said.</p>
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UBank, a subsidiary of NAB, has announced the new lowest fixed rate in Australia – 1.75 per cent for three years.

UBank announce Australia's lowest fixed rate home loan

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<p>Australian Finance Group secured a record-breaking December quarter with more than $19.9 billion of home finance lodged by AFG brokers.</p>

<p>AFG CEO David Bailey advised the national figure represented an increase of 9.5% on the prior quarter and a 30% increase on the corresponding quarter in 2019.</p>

<p>But the percentage of investor loans remained at an all-time low of 21%.</p>

<p>Some 42% of lodgements were for those upgrading their homes.</p>

<p>With government incentives, first home buyers represented 22% of lodgements, triggering a record high loan to value ratio of 73% due to the high proportion of first home buyers who typically have smaller deposits.</p>

<p>Overall the broker saw gains across the country lead by Victoria up 18% and Western Australia recording a 13.3% jump on Q1 2021. </p>

<p>New South Wales up 3.5% for the quarter, Queensland up 7.8%, South Australia up 0.4%. </p>

<p>The Northern Territory recorded a drop of 10%.</p>

<p>The average loan size was also at record levels, coming in at $544,359 for the quarter.</p>

<p>A record 88% took a principal &amp; interest product over an interest only loan. </p>

<p>The average loan size was also at record levels, coming in at $544,359 for the quarter.</p>

<p>“The market is well aware that low interest rates are likely bottoming out and this has seen the percentage of customers choosing a fixed rate product still high at 29.2%,” Bailey said.</p>

<p>With the four big banks leveraging their funding advantage through very competitive pricing and cash back offers, smaller lenders’ share of the market remained at 41%.</p>

<p>The Westpac stable of brands – Westpac, BOM, BankSA and St George – have increased their combined market share of AGF loans by 2.5% to be sitting at 18.7% while CBA group – CBA and Bankwest – dropped 4.7% to now be holding 20.7% of the market.</p>
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jchancellor

Australian Finance Group write record-breaking $19.9 billion worth of loans in December quarter

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<p>Australian homeowners rank paying off their mortgage as their greatest life priority yet over 50% don't know the exact current interest rate on their home loan, according to new research commissioned by Mortgage Choice.</p>

<p>The research survey found a disconnect between the increased financial concerns borrowers are experiencing from COVID-19 and knowledge of whether their interest rate is competitive.</p>

<p>Only 46.5% of respondents knew their current interest rate, Much fewer in 2020 compared to previous surveys commissioned by Mortgage Choice (61.5% in 2018 and 71% in 2016).</p>

<p>This increased complacency comes at a time when the coronavirus pandemic has put more people under financial pressure. Over 62% of Australians admit that COVID-19 has caused them to worry more about money, with 65.6% trying to boost their resilience by saving more, spending less and improving their financial knowledge.</p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mortgage_choice_2020.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/mortgage_choice_2020.jpg?itok=Bk5UqzeU" width="580"></a></figure><p>"Our research suggests that Australians are more focused than ever on their finances, yet many are being complacent with their biggest expense and potentially biggest saving, Susan Mitchell, Chief Executive Officer at Mortgage Choice, said.</p>

<p>Homeowners aged 30 to 39 were the most likely to not know their interest rate (64.5%), with those aged 50 to 59 years close behind at 56.4%.</p>

<p>Ms Mitchell said, "it's so important to know your interest rate because if you’ve been complacent the chances that you are paying too much are extremely high. Every Australian should make it a New Year resolution to review their home loan. Give yourself an early Christmas present by reducing your rate and saving on repayments.”</p>

<p>However, Australians are not keeping track of interest rates or checking to see if they are getting the best deal. Asked how often they review their home loan, 13.7% said never, and 44.4% said every couple of years. Even fewer (41.9%) review their loan annually.</p>

<p>“I strongly encourage all borrowers who haven’t had their loan reviewed in the last 24 months to speak to their broker or their lender to learn if they’re still in a competitive home loan," added Ms Mitchell.</p>

<p>"In the past year alone, the cash rate has dropped by 65 basis points, and many lenders are open to negotiating on rate reductions. Let's say your principal and interest rate is 3.99% and shopping around with the help of a mortgage broker enables you to drop by 50 basis points to 3.49%. On a 30-year home loan of $600,000, the savings could be in the vicinity of $170 a month," she concluded.</p>
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Only 46.5% of those surveyed by Mortgage Choice knew their current interest rate, much lower than 61.5% in 2018 and 71% in 2016

urban.com.au

Majority of Australians don't know their home loan's interest rate

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<h3 class="x_post-title x_entry-title"> </h3>
<div id="x_post-body-3434663202090627287" class="x_post-body x_entry-content">
<div>APRA released its quarterly property exposure figures today for the period ended 30 September 2016.</div>
<div> </div>
<div>If there has been a slowdown in lending, sheesh, it's hard to make out from the chart. </div>
<div> </div>
<div>Total domestic residential property exposures increased by +7.9 percent from a year ago to a new high of $1.46 trillion.</div>
<div> </div>
<div>Exposures are now some +130 percent higher than they were in 2008.</div>
<div> </div>
<div>The growth in exposure to investors has been stopped in its tracks, however, with new loans to investors down 14 per cent from a year ago. </div>
<div> </div>
<div>However, owner-occupier loans stepped in to breach the gap, with exposures rising by +12.9 percent over the year to September, and the value of new loans to homebuyers rising by some +14 percent. </div>
<div> </div>
<div>In short, lenders have switched focus from investors to homebuyers.</div>
<div> </div>
<div><a href="/images/2016/12/01/APRA1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/12/01/APRA1.jpg" alt=""></div>
<br><div>The regulator has taken a number of measures to limit riskier lending.</div>
<div> </div>
<div>For example, loans of 90 percent or higher loan-to-value ratio (LVR) are now just 8.5 percent of the market, down from 22 percent in 2009. </div>
<div> </div>
<div>Thus, most borrowers are using substantial deposits, whether borrowed from parents or from existing loans (some may even be saving deposits, who knows?!). </div>
<div> </div>
<div><a href="/images/2016/12/01/APRA2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/12/01/APRA2.jpg" alt=""></div>
<div class="x_separator"> </div>
<br><div>Low-doc loans and loans approved outside serviceability are also now a small segment of lending.</div>
<div> </div>
<div>There has been a sharp pullback in the number and value of interest only loans over the past year, with this sector of the market dropping by 15 per cent from a year ago. </div>
<div> </div>
<div><a href="/images/2016/12/01/APRA3.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/12/01/APRA3.jpg" alt=""></div>
<br><div>Buried in the small print there were some upward revisions to previously reported interest only loans reported by one institution. </div>
<div> </div>
<div>While exposures to investors has decreased, there does not seem to be much clarity surrounding the categorisation of outstanding loans (as evidenced by previous revisions), and as such in aggregate there may be more investors in the market than implied.  </div>
<div> </div>
<div>The average loan size over the year increased from $244,000 to $255,000. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
<div> </div>
</div>
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pwargent-M4siyDbqQY

Lenders switch focus from investors to homebuyers

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<p>Despite the preference for lenders to cut their fixed rates to entice new customers, there are some lenders cutting their variable rates.</p>
<p>Canstar found that last week over 10 lenders cut their variable rates, at an average cut of 20 basis points, or 0.20 per cent.</p>
<p>The home lenders who cut rates are:  </p>
<ol>
<li><span>AMO Group</span></li>
<li><span>Aussie</span></li>
<li><span lang="EN-US">Greater Bank</span></li>
<li><span>G&amp;C Mutual Bank</span></li>
<li><span>Heritage Bank</span></li>
<li><span>Hume Bank</span></li>
<li><span>MOVE Bank</span></li>
<li><span>Qudos Bank</span></li>
<li><span>Suncorp Bank</span></li>
<li><span>The Capricornian</span></li>
<li><span>Tic Toc Home Loans</span></li>
</ol>
<p> Over the last week, 30 lenders cut 576 fixed rates by an average of -0.32 per cent.</p>
<p>The average variable interest rate for owner occupiers paying principal and interest is 3.33% and the lowest rate is 1.77% (60% LVR) or 1.99% (80% LVR)</p>
<p dir="ltr"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/23/Owner%20occupier%20PI.jpg" alt=""></p>
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wdavis-8cCN98p7xp

Lenders cutting variable and fixed rates

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<p>Mortgage approvals jumped over 10 per cent over July to bounce back to pre-pandemic levels, recent statistics from the ABS found.</p>
<p>The number of mortgages approved rose from 25,713 in June to 28,322 in July, the largest monthly increase since COVID started to impact Australia.</p>
<p>There was a $1.2 billion spike between June and July for owner occupier property purchases, with 59 per cent of Australia believing now is a good time to buy property, Finder.com.au research suggests.</p>
<p><img src="https://www.urban.com.au/images/2020/9/30/Finder%20loans.png" alt=""></p>
<p>Finder's insights manager Graham Cooke said the figures signal fresh energy in the housing market.</p>
<p><span>“Judging by the surge in activity, plenty of Aussies are fired up about property again", Cooke said.</span><br><br><span>“The housing market is also benefiting from the pent-up demand released with the restarting of auctions and inspections in several places. </span><br><br><span>“The full economic impact of COVID-19 has yet to be realised, but Aussies are unshakable in their love of housing,” he said. </span></p>
<p><span>Finder's</span> research shows 11,018 first home buyers have got a foot in the property market in July, 20 per cent more than May.</p>
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jrobinson-rf4aSBido9

Mortgage approvals jumped to pre-COVID levels in July

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<p>Mortgage holders are continuing to refinance their home loans as banks fight for market share as interest rates continue to hold at record lows.</p>
<p>There's no suggestion from the RBA that rates will change until at least 2022 as the central bank attempt to drive the economy.</p>
<p>And as fixed rate mortgages expire, more and more mortgage holders are likely to refinance.</p>
<p><img src="https://www.urban.com.au/images/2020/9/14/Refinancing.png" alt=""></p>
<p>According to CoreLogic's early market indicators, refinancing mortgages have rose 1.4 per cent.</p>
<p>That takes refinancing up over 23 per cent year on year.</p>
<p>Mortgages for new purchases dropped slightly over the last week, down -01.8 per cent, but are still over 25 per cent up year on year.</p>
<p>And CoreLogic has seen a -42 per cent decline over the week in MIP reports, which is reports for a mortgagee in possession valuation..</p>
<h1>Newly Advertised Properties</h1>
<p>Newly advertised properties were up 2.41 per cent over the week, according to CoreLogic's database.</p>
<p>New listings however are still -5.6 per cent down over the month.</p>
<p>Rental listings are up 5.2 per cent, again still down over the month.</p>
<p><img src="https://www.urban.com.au/images/2020/9/14/Newly%20advertised%20property.png" alt=""></p>
<h1>Pre-listing Activity</h1>
<p>There's been a small rise in pre-listing activity, which CoreLogic define as more comparative market analysis reports being generated through their platform.</p>
<p>This report is essentially an indicator of new listings on the horizon.</p>
<p><img src="https://www.urban.com.au/images/2020/9/14/pre-listing%20activity.png" alt=""></p>
<p> </p>
<p> </p>
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